In Charge with Shalicia Harris | E304

Merging engagement and discovery.

In today’s episode of Fintech Impact, we have Shalicia Harris, founder and CEO of In Charge; a platform designed to empower financial advisors in growing their businesses and fostering stronger relationships with clients. The focus is on personalized financial literacy, aiming to empower clients in making informed decisions about their money. The platform enables advisors to seamlessly create tailored campaigns, emphasizing transparency and education to eliminate negative experiences in client-advisor interactions.

Episode Highlights:

  • 00:30: Shalicia explains that In Charge is a platform designed to empower advisors in growing their businesses while helping clients feel in control. The platform focuses on mending relationships between advisors and potential clients.

  • 02:03: Shalicia discusses the solution, emphasizing the need for personalized financial literacy to empower clients in making informed decisions about their money.

  • 03:51: Shalicia explains the focus of In Charge on personalization, allowing advisors to send tailored information to potential clients, making the prospecting journey smoother.

  • 04:19: Jason asks about the step-by-step approach, and Shalicia describes the seamless and automated experience for advisors, from inputting prospect details to creating personalized campaigns. He also seeks clarification on the end goal of the personalized campaigns and journeys created by In Charge.

  • 06:37: Shalicia emphasizes the deeper and more personalized customer journey created through market surveys. She mentions the inclusion of market surveys in the insurance world, allowing for a more personalized customer journey.

  • 07:00: Shalicia emphasizes the creation of transparency and education as the primary goals. She discusses the importance of making financial information palatable and eliminating negative feelings in client-advisor experiences.

  • 09:32: Shalicia notes that the platform is popular among new advisors, offering them a valuable tool to navigate compliance and gather essential KYC data. Advisors appreciate the ability to strategize and understand clients' financial situations comprehensively, leading to a high conversion rate of up to 75%.

  • 10:34: Shalicia highlights the impact of personalized financial literacy in the advisor-client relationship, allowing both parties to walk through the client's current financial state and refine future goals, resulting in a clearer understanding and increased alignment on the next steps.

  • 11:05: Jason acknowledges the impressive conversion rate and discusses the commitment aspect in the journey, emphasizing the educational and engaging approach of In Charge.

  • 12:01: Shalicia introduces the "5 key pillars of personal finances," covering debt, housing, investment, financial resilience, and creditworthiness and describes a 3 to 5-minute assessment and breakdown of client finances.

  • 14:38: Shalicia explores the platform's future direction, emphasizing continued education and engagement, helping advisors identify their niche, and providing timely value to clients.

  • 15:49: Shalicia foresees In Charge evolving as an education-centric and engagement-focused platform and highlights the importance of segmenting and delivering value to consumers at the right time. She emphasizes the need for advisors to identify their niche.

  • 17:49: Shalicia finds excitement in positive feedback, knowing clients feel empowered, and the impact of In Charge in promoting financial literacy.

Key Points:

  1. Shalicia's goal is to make financial advice more accessible to everyone and eliminate the fear associated with seeking financial guidance.

  2. Change management is a significant hurdle in the financial advice industry due to heavy compliance ties. Shalicia highlights the need for overcoming the industry's resistance to change and embracing technologies like AI.

  3. In Charge focuses on empowering clients by providing transparency and personalized financial literacy. The platform aims to bridge the knowledge gap, allowing clients to make informed decisions and fostering trust between advisors and clients.

Tweetable Quotes:

  • "In Charge is a platform to help advisors be In Charge of the growth around their business and help their clients feel In Charge at the same time." - Shalicia Harris.

  • "Transparency is huge, and education is huge. We're living in an age where the majority of consumers have some sort of high school, college, university degree, and even master's degrees are quite high at this time." - Shalicia Harris

  • "The feedback from clients is that this made me trust my advisor a little bit more because they felt that they weren't hiding things. Transparency itself becomes a part of that trust foundation." - Shalicia Harris

Resources Mentioned:

Fintech ImpactJason PereiraFintech