Summary:
In this 7th episode of the Fintech Impact podcast, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Yon Perullo, the CEO of RiXtrema, a United States-based fintech that specializes in helping financial advisors build their practice and assist with the fiduciary responsibilities that they face in their practice.
Show Notes:
●01:01 – RiXtrema started in risk-management in the financial advisement space and evolved into many areas of fiduciary risk management.
●01:32 –Yon began his career as a Director of Quantitative Analytics at FactSet and moved to managing hedge funds and mutual funds.
●03:29 – Yon came to RiXtrema as an early adopter.
●04:11 – RiXtrema created the Portfolio Crash Test for advisors to load their portfolios for their clients to get robust scenario testing.
●10:48 – One of the tools that was developed out of the Portfolio Crash Test is called the IRA Fiduciary Optimizer.
●13:40 –The 401kFiduciary Optimizer is another tool that RiXtrema developed that can, among other things help advisors prospect, to help for new customers.
●18:10 – One of the big selling points behind RiXtrema’s fiduciary tools are that participants have potentially better outcomes at lower costs.
●21:49 – The acquisition of Larkspur included their Planishere software that is a searchable, online database of qualified plans,
●22:22 – The Executive Tab which is a list of the executives at the firm that you are trying to reach.
●25:59 –The Annuity Optimizer allows advisors, or anybody, to compare an existing annuity and the cost of rolling into another annuity.
●34:27 – Yon’s role currently is to pull the reigns back a little on development, and focus on integrating what they have already created, and leveraging it into other avenues.
3 Key Points:
RiXtrema provided the Portfolio Crash Test for advisors to load their portfolios for their clients to get strong scenario testing.
RiXtrema’s acquisition of Larkspur included their Planishere software that is a searchable, online database of qualified plans.
The Annuity Optimizer makes it possible for advisors to compare an existing annuity and the cost of rolling into another annuity.
Tweetable Quotes:
-“Clients want simplicity in the way their workflow happens.“ – Yon Perullo
-“We just launched something in the two tools that we are calling the Executive Tab, which is a list of the executives at the firm that you are trying to reach.“ – Yon Perullo
-“The paradox of choice: everybody wants to have all the options available to them.
Then they are just going to default to whatever is easiest.“ – Jason Pereira.
Resources Mentioned:
●LinkedIn – Jason Pereira’s LinkedIn
●Facebook – Jason Pereira’s Facebook
●Woodgate Financial – Website for Woodgate Financial
●RiXtrema– Website for RiXtrema
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