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“Big data can help you plan better,” said Jud Mackrill, CEO and co-founder of Milemarker, a data integration platform. “Most firms have silos of data left unutilized. Getting data into central repositories and creating APIs can help firms make better business decisions.”
At the beginning of the year, Mackrill left his role as chief marketing officer at Carson Group to start his own wealthtech to help the financial advice industry manage data so that advisers can focus on their core businesses. Without integrated technology and data, advisers cannot effectively create cohesive client experiences.
Think of Amazon.com Inc., Mackrill said. The e-commerce behemoth drives value through its use of data to prompt its customers with suggestions and perspectives on what they could be doing next. Financial advisers can, and will, be held to a standard to do the same. “
In this episode, Jack talks with Jud and Kim Mackrill, Co-Founders and CMOs at Milemarker.
Kim and Jud Mackrill are partners in life and in business. Together, they have built careers on providing solutions in tech integration for the finance world. Before Milemarker, they helped advisors innovate through their marketing company, Mineral Interactive. After Mineral’s acquisition, Kim and Jud led the rebranding of Carson Group.
Kim, Jud, and Jack discuss harnessing the power of data, modernizing your firm’s tech stack, and the importance of client behavioral psychology in tech implementation.
“This is the path. You have to really start with empathy designed for the user, build the data model, and then deliver it because the future is far more complex.” ~ Jud Mackrill
Big data can help you plan better. Most firms have silos of data left unutilized. Getting data into central repositories and creating APIs can help firms make better business decisions.
Understand the psychology of your clients. Getting a good grasp of clients’ behavioral psychology can help you design better user-oriented platforms. Know what is digestible to the user and improve implementation through tech.
Modernize your tech stack. A new data-driven wealth management company has more edge than old-timers and veterans who refuse to adapt.
Jud is well versed in helping companies dramatically increase value with his portfolio of experience as a Founder, Chief Marketing Officer, or Consultant accompanying business exits or recapitalizations of over $1.9B.
Jud is passionate about modernizing independent wealth management and helping make private investing more accessible and transparent throughout the fast-growing Registered Investment Advisory (RIA) channel.