The Evolution of Personalized Wealth Management with Mark DeLotto

Episode 036: On this week’s episode of The Connected Advisor, I talk with Mark DeLotto, Managing Partner and COO at Simon Quick Advisors, about the transformative effects of AI and technological innovation on wealth management.

We discuss the challenges of integrating family office services within an RIA framework, focusing on the importance of multi-generational teams, goal-based financial planning, and maintaining a high-quality customer experience while scaling personalized advisory services. Mark emphasizes the need for a cohesive technology platform to support operational efficiency and meet the evolving demands of clientele while reflecting on his motivations in finance, inspired by his grandfather's financial wisdom.

Key takeaways from this episode:

1. Embrace technology and AI in financial planning to enhance efficiency and improve data usage. They are rapidly changing the financial industry and offering new possibilities for better service delivery.

2. Recognize the importance of goal-based financial planning, and don’t shy away from meaningful conversations about legacy.

3. Consider a multi-generational team approach to cater to the diverse needs of different generations within client families. This helps ensure long-term client relationship satisfaction.

4. Service excellence is non-negotiable; it requires a culture of continuous improvement and an ownership mindset.

The episode is available now on your favorite podcast platform:

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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