Kaizen: Nothing Is Ever Complete And There Is Always Room For Improvement

Episode 060: On this week’s episode of The Connected Advisor, I talk with Chrissy Lee,  Chief Operating Officer of Merit Financial Advisors.

Operations is the cornerstone of any organization, and technology is integral to successful business operations. Their integration revolutionizes any organization, and wealth management is no exception. By automating tasks, streamlining workflows, and connecting disparate systems, technology has become an indispensable tool for improving operational efficiency. This increased efficiency empowers advisors to focus more on what they do best: serving their clients, building lasting relationships, and providing personalized financial guidance.

Chrissy is responsible for the day-to-day operations of the firm, working within the executive leadership team and each department within the organization to create efficiencies and streamline the client service experience. She is also responsible for operational strategy, driving strategic growth through mergers and acquisitions, and overseeing onboarding processes, business development, and technology implementations to create a best-in-class experience for the Merit community.

We talked about the importance of operational efficiency in wealth and asset management. She discusses the challenges of integrating technology, the significance of human relationships in wealth management, and how technology should enhance, rather than replace, these relationships.

Key Takeaways

• Operations and technology go hand in hand. Operations is at the heart of any organization. And technology is an integral component of successful operations.

• Integrating operations with advanced technology can streamline processes and enhance client interactions.

• Operational efficiency, meticulous planning, and client-focused strategies are crucial for consolidation and acquisition firms.

• Technology automates and streamlines processes, allowing advisors to focus on serving their clients.  

Quotes

[15:27] - "One of the things that really takes away from advisors is productivity. Why not allow advisors to stay in their "hot zone," which is to serve their clients and have that relationship with the clients?" ~ Chrissy Lee

[20:11] - "Operations and technology go hand in hand. Operations is at the heart of an organization because you have the relationships. And if we don't have the right technology or if it's limited, it is difficult because it becomes a manual process." ~ Chrissy Lee

[27:46] - "People are not numbers. You can only send so much data and analysis to someone, you know? They want someone who cares, who is listening, and who is hearing their story." ~ Chrissy Lee

Links 

• Chrissy Lee on LinkedIn

• Merit Financial Advisors

• Farmers Insurance

• Merit Connect

• The Map

Connect with our hosts

• Milemarker.co

• Kyle on LinkedIn

• Jud on LinkedIn

Subscribe and stay in touch

• Apple Podcasts

• Spotify

• YouTube

While there, please don’t forget to Download, Like, and Subscribe.

If you’d like to schedule a time to talk with me about anything we cover on our podcast or Milemarker, click here for 15 minutes.

Kyle Van Pelt