Capintel with James Rockwood | E204
Investment reporting made clean and easily digestable.
In today’s episode, Jason is going to talk to James Rockwood, founder, and CEO of Capintel. Capintel is an investment analytics company that tells you how your performance looks and does all kinds of proposal building, automation, and team collaboration tools that reduce the heavy lifting and let us go back to focusing more time on what matters that’s the one on one time with our clients.
Episode Highlights:
00.42: Capintel is an investment comparison proposal platform for financial advisors that help them organize how they present and pitch investment products to their customers.
02.12: James has heard a lot about Robo’s advice, and there is a ton of media and a ton of coverage about the changing of a financial advisor landscape.
03.22: It is always a lot easier to gain traction, foothold, and people paying you if you’re a B2B player or enterprise, play in the investment world, says Jason.
06.15: Jason says that industry people focus on demonstrating how smart they are to the client instead of speaking their language.
07.42: The significant part about selling financial products and the financial advisory relationship is a trust-based relationship. So as an advisor, you want to strike a balance between showing somebody credible information and explaining your thoughts without overwhelming them.
09.00: Most advisors deal with tons of different metrics and data. They have complex reasons for recommending fund A versus fund B or portfolio A versus portfolio B, says James.
11.40: One of the bigger things going on around the world is they move towards even greater transparency and regulatory reform around any number of things, says Jason.
16.08: Client focus forms will be good for the industry. It will be excellent once we get through the specificity of understanding, like how much information is enough, says James.
20.07: James felt fortunate that they were able to run into people early on and bring on many banks and some of the prominent wealth managers in the country pretty quickly because of their trust in us and their willingness to see not what the product was at that moment but what it would look like at the end of the year.
21.41: It is interesting how in the 80s, the advisors had all the access, and now you could argue that retail clients have slightly more access because they can now access these random securities like NFTs in crypto, says James.
23.00: Jason asks if you had one wish for something that you could change in your company or industry as a whole, would it be?
26.00: In 2022, Canadian fintech startups will be able to submit a three to five-minute video to pitch their idea. We will provide them with access or select companies with slightly used MacBook Pros and then introductions to some of our Angel investors, says James.
27.18: The future of the business and how we can help transition the industry into a more tech-enabled industry is the thing that keeps me coming back for more and excited about the future. At least, the most important wealth to me is an incredibly important industry, says James.
3 Key Highlights:
Capintel has a product management component where you can build your models. Then, you will organize it the way you want and make that into capital by entering the codes, the fund tickers, and allocations.
Financial goals are not met with a single financial product. Instead, it is a combination of financial products like a mixture of investments, insurance, willingness, date planning all over the place, says James.
The amount of change required in regulation for financial advisors from a reporting perspective or a record-keeping perspective is massive and shouldn’t be underestimated. In addition, people had to make huge changes to their day-to-day workflow to be able to do it.
Tweetable Quotes:
“If you are pitching a presentation to CFA or an accountant or an engineer, you will probably want to provide them a lot of data because those profiles clients tend to love looking at all the data. If it is somebody who has less sophistication with finance, they can be more easily overwhelmed.” – James
“Being able to strike the right balance between informative and easily digestible is hard. Simplicity itself is a beautiful art but difficult.” – Jason
“When it comes to the math component, people have different levels of understanding, and if they’re looking at a hypothetical return chart, that can be intuitive to some people and can be very confusing and scary to others.” - James
“We are excited to be trying to build up more advisors’ abilities to address that holistic wealth problem because it will be a combination of the advisor’s judgment and knowledge of the client.” – James
“We modified the platform, building out some CFR-specific modules to allow a lot of work to be automated. This is how we help you save the information and make sure you have robust information to provide to the regulator if you ever need to.” – James
“You want to be robust, but you also want to balance the amount of administrative time it will take to have that robust information. So trying to strike that balance from a startup perspective is difficult.” – James
“People will be looking more and more for broader-based advice instead of Hollistic traditional investment management role.” - James
Resources Mentioned:
Facebook – Jason Pereira’s Facebook
LinkedIn – Jason Pereira’s LinkedIn
Woodgate.com – Sponsor
James Rockwood – Linkedin