PureFacts with Jeff Marsden | E365

Comprehensive revenue management.

In this episode of Fintech Impact, Jason Pereira interviews Jeff Marsden, Chief Product Officer at PureFacts, a leader in revenue management for financial advisory and investment management firms. They explore the complexities of revenue management, including regulatory challenges, individualized advisor fee structures, and data integration from multiple sources. The discussion also touches on the company’s strategic acquisitions, the integration of AI to enhance data quality and operational efficiency, and future industry trends like outcome based models in wealth management.

Episode Highlights:

  • 00:09: Introduction by Jason Pereira about Jeff Marsden and PureFacts, focusing on complexities in revenue management.

  • 00:27: Jeff Marsden expresses his pleasure in being on the show.

  • 00:29: Jeff Marsden discusses the history of PureFacts and their global expansion.

  • 01:09: Jeff digs into the DNA and history of the company, emphasizing late 90s billing systems.

  • 02:16: Overview of the services provided by PureFacts, including comprehensive revenue management.

  • 02:54: Conversation about fee complexities, daily moving numbers, and regulatory influences.

  • 03:52: Discussion on regulations, data calculations, and advisor relationship complexities.

  • 04:54: Description of the comprehensive and customizable nature of PureFacts' platform.

  • 05:01: Details about the different advisors’ unique propositions and fee models.

  • 05:32: Jason Pereira highlights challenges in calculating fees for numerous advisors at broker dealers.

  • 06:56: Jeff outlines the significant data challenge in revenue calculations and client transparency.

  • 07:42: Discussion on regulatory disclosure issues such as CRM3 and its complexities.

  • 08:27: Jason asks about comprehensive revenue management; Jeff explains technical and business perspectives.

  • 09:24: Jeff outlines the technical flow from data integration to output for client statements.

  • 11:07: Jason inquires about merging multiple companies; Jeff explains the strategy behind acquisitions.

  • 13:20: Discussion on the benefits of acquisitions for existing customers and market expansion.

  • 15:04: Jeff talks about three years of AI integrations improving data management and client service.

  • 18:02: Jason commends the reduction of burdens through AI, easing enterprise-grade software onboarding.

  • 19:35: Emphasis on using AI for reducing friction and improving value between clients and advisors.

  • 22:20: Jeff outlines future roadmap focusing on enhanced reporting, client needs, and decision support.

  • 26:58: Discussion on industry shifts towards outcome-based models with value transparency in pricing.

  • 28:15: Conclusion with Jeff reinforcing the importance of proper value and revenue understanding.

Key Points:

  • Revenue management in financial services is complex, involving regulations and unique fee structures for advisors.

  • PureFacts integrates AI to improve data accuracy, operational efficiency, and onboard processes for new clients.

  • The future of wealth management may see a shift towards more outcome-based models with clear value alignment.

  • Strategic acquisitions have enabled PureFacts to enhance their service offerings and expand geographically.

Tweetable Quote:

  • "Revenue management is more complex than just a spreadsheet problem; it's about evolving data and regulations." - Jeff Marsden

  • "AI is fundamentally transforming how we sanitize data and optimize operations for maximum client value." - Jeff Marsden

  • "The future of wealth management is an outcome-based model focusing on true client value." - Jeff Marsden

  • "Merging knowledgeable companies has created a powerhouse in comprehensive revenue management." - Jeff Marsden

Resources Mentioned:

Fintech ImpactJason PereiraFintech