Happy Memorial Day Weekend!

I hope you’ve got some fun plans—or at least some well-earned downtime—as we kick off summer across the country.

Around here, we’re officially entering what we affectionately call Data Lake Summer (credit to Josh Brown and Michael Batnick for coining the phrase). It’s a season of building: We’re helping firms across the country seamlessly add powerful data lakes and empowering advisors to take more control over how they build their business on top of their tech stack.

This week, I’m sharing a piece I originally wrote for Financial Advisor Magazine—a message that’s been resonating more and more:

You are a tech company, whether you want to be or not.

And if that’s true, it means changing how we think, operate, and lead.

Personally, I’m also celebrating a big milestone—our oldest is graduating today—and I’m reflecting with gratitude on what lies ahead. These next few months feel like an open runway. I hope you feel the same in your own business.

Here’s to the weekend.

Here’s to the work.

Hope you’re sipping on something great.

—Jud

1. You Are A Tech Company. Act Like It.

2. On the Pod: Thriving Through Disruption: Building a Future-Ready RIA 🎧

3. Bookmarks

   1. Register: What the Heck is a Data Lake - Workshop

   2. Mogwai + Pan Am 103?

4. Milemarker On the Road ✈️

You Are A Tech Company. Act Like It.

Originally Published in Financial Advisor Magazine

In 2011, Blockbuster had over 9,000 stores. By 2013, it had one. Everyone knows the story: Netflix came in, rewrote the rules, and Blockbuster got crushed. But this wasn’t just a tale of competition—it was a tale of identity.

Blockbuster thought it was a video rental company. But it wasn’t. It was a technology company that rented videos—and it failed because it didn’t act like one. The difference between those two mindsets? About 8,999 locations and a few billion dollars.

So, What’s This Got To Do With You?
If you run a financial firm today—RIA, OCIO, family office, broker-dealer—here’s something you may not want to hear: You’re a tech company. You just happen to sell advice, manage assets or serve clients. You don’t have to like it. But you do need to understand it.

The Reluctance Is Real
Let’s be honest: a lot of advisors, executives and operating officers are tired of tech promises. “This will change everything.” “It’ll automate your life.” “It’s the missing link.”

And yet, what actually changes? Not much—other than your bill going up. You may already feel like you’ve bought too much technology. Your team might be frustrated. Your MSP might be giving you vague answers. And you’re probably still cobbling together reports from eight different systems.

But here’s the truth: Technology is not going away. You’re going to be using more of it in 2026 than you do today. And by 2029? Forget it.

So, the question isn’t “Do we want to be a tech company?” It’s “How do we win by thinking like one?”

The Mindset Shift: From Tech Buyer To Tech Company
Stop thinking of yourself as a firm that uses software. Start thinking of yourself as a company that runs on software—and makes strategic decisions like a tech company would:
• You document how things work
• You train your people to do it better
• You govern your tools and vendors
• You train your people to do it better
• You govern your tools and vendors
• You scale intelligently

Because if you don’t, here’s what happens:
• Growth stalls
• Tech debt piles up
• Your best people burn out
• And your top clients start looking elsewhere

7 Things Real Tech Companies Actually Do

Let’s make this practical. Here are seven steps you can take to start acting like a tech-native firm today:

1. Standardize Your Stack
What most firms do:
Buy tools based on a conference booth or a colleague’s recommendation.

What tech-native firms do:
Create a roadmap, define use cases and select platforms that integrate, scale and serve multiple teams.

2. Run A Real Vendor Diligence Process
Before you sign a contract, ask:
• How is data handled?
• Are they SOC 2 or ISO 27001 certified?
• Can they integrate directly with your systems (API, Snowflake, warehouse)?
• Do they align with your broader tech strategy?

3. Train Like You Mean It
You don’t rise to the level of your software—you fall to the level of your training. Build formal onboarding. Create SOPs. Reward adoption. Run refreshers. Because if no one uses the tool, the tool doesn’t exist.

4. Secure The Edges
• You don’t need to be paranoid. But you do need to:
• Enforce MFA across the board
• Encrypt endpoints
• Restrict access to sensitive data
• Monitor for phishing, smishing, and other attacks
• Educate your team like it’s part of compliance—because it is

5. Don’t Treat Your MSP Like A CTO
Managed service providers (MSPs) are great at what they’re built for: scalable, consistent delivery. But let’s be clear: they are not your business. They often operate reactively. They’re not strategic. They’re not responsible for your firm’s growth—or competitive edge.

So, you need someone else. Someone who:

• Acts as a true technology fiduciary
• Thinks ahead
• Calls out gaps in your tech stack
• Doesn’t sign you up for a million things you’ll never use
• Isn’t so conservative you fall behind

That person could be internal or external. But they must act in your best interest—not their convenience.

6. Set A “No Excuses” Standard
When someone says, “I’m just not tech-savvy,” remember: It’s 2025. Tech is table stakes. Nobody’s asking your team to write Python. But understanding the systems that run your business? That’s part of the job now.
 

7. Own Your Data
You can’t claim to be a modern firm if you can’t answer:
• “How many clients do we serve right now?”
• “What’s our true AUM and where is it tracked?”
• “Who can access what systems—and how is that monitored?”

If that data is locked up, spread across PDFs, or stuck in someone’s desktop Excel file, it’s time to fix it.

You Don’t Need To Be Google
But you do need to think like a modern technology firm. That means:
• Discipline
• Documentation
• Standards
• Security
• Governance
• And a clear plan for scale

That’s how you avoid tech bloat. That’s how you protect your business. That’s how you create a firm that lasts.

TL;DR
You’re not just an advisory firm. You’re a technology company that delivers advice. And once you accept that truth—and build accordingly— you’ll stop surviving the future and start thriving in it.

______________________

On the Pod: Thriving Through Disruption: Building a Future-Ready RIA

Episode 094: On this week’s episode of The Connected Advisor,  Kyle Van Pelt talks with Jay Tarno, COO of Cornerstone Planning Group.  A former advisor turned operator, Jay helped lead Cornerstone’s transition to independence and rapid growth.

In this episode, Kyle and Jay discuss the risks and rewards of building a tech-forward firm from scratch. From navigating the choppy waters of the 2008 financial crisis to transitioning to independence during the COVID-19 pandemic in 2020, Jay shares his journey and the key strategies behind Cornerstone Planning Group's scalable growth.

(00:00) - Intro

(01:31) - Jay's money moment

(05:16) - Going independent during the pandemic

(07:47) - Building a tech stack from scratch

(13:02) - How Cornerstone supports advisors with niche markets

(16:42) - What it takes to be a great COO

(18:42) - Creating Cornerstone’s service team and its impact on growth

(21:51) - Cornerstone's approach to recruiting and developing talent

(24:08) - Jay’s outlook on the future of financial advice, tech, and client relationships

(26:50) - Jay's Milemarker Minute

⚡️Bookmarks

What the Heck is a Data Lake Workshop

I’m excited to share how Milemarker is helping firms take control of their data and scale faster. Join me for a fast, no-fluff webinar on what a data lake really is—and why your firm will be using one sooner than you think. Hope to see you there!

Mogwai Plays Through Pan Am 103

This part is for a few of my readers, but here it goes anyway.

I stumbled upon Mogwai’s latest release, the soundtrack for a film about the bombing of Pan Am 103.

If you need some well done music to give you a focused vibe or help you through your deliberative mood, this album is really well done. Now to see the film.

Milemarker on the Road
Catch my team on the road at the following events or cities:

1. June 10-13 - Boca/North Palm Beach/Miami, FL

2. June 22-28 - Minneapolis, MN

3. July 29-31 - Denver, CO

If you’re in any of those cities and want to arrange a meeting time, reply to this email, and we’ll get something on the calendar.

Jud Mackrill