Savvy Wealth with Ritik Malhotra | E324
Creating an RIA with a tech first approach.
In this episode of Fintech Impact, host Jason Pereira welcomes Ritik Malhotra, Co-Founder and CEO of Savvy Wealth, to discuss the intricacies of their digital platform designed to empower financial advisors. They dive into the platform's capabilities, its origin story, and the pressing challenges it aims to solve in the financial advisory landscape, enhancing both the advisor's efficiency and the client experience.
Episode Highlights:
00:11: Jason introduces Ritik Malhotra and Savvy Wealth, a platform revolutionizing how financial advisors manage and grow their practice by automating non-client facing tasks and implementing modern technological solutions.
00:31: Ritik expresses his excitement about the opportunity to share the vision and capabilities of Savvy Wealth, highlighting the platform's innovative approach to problem-solving within the industry.
00:38: Ritik elaborates on the essence of Savvy Wealth, emphasizing its role in modernizing financial advisory practices through automation and a suite of tools encompassing operational, compliance, and marketing functions to deliver a superior client experience.
01:11: Ritik shares the journey from experiencing personal financial advisory needs to the inception of Savvy Wealth, driven by his dissatisfaction with traditional advisory services and a vision to enhance the industry through technology.
02:12:Through his personal quest for a financial advisor, Ritik discovered the significance of the advisor-client relationship and the value advisors bring in navigating complex financial decisions, which shaped the philosophy behind Savvy Wealth.
03:51: The realization of widespread advisor frustrations with existing technological and operational constraints led Ritik to envision Savvy Wealth as a comprehensive solution catering to the modern demands of both advisors and their clients.
04:51: Ritik describes the unique approach of developing both the advisory business and the technological platform concurrently, underlining the innovative strategy that sets Savvy Wealth apart.
05:06: The initial focus on improving the onboarding process revealed the broader potential for technology to significantly enhance advisor efficiency and the overall client experience.
07:23: Exploring the pivotal role of technology in reshaping the advisory landscape, Ritik discusses the development of a comprehensive, integrated platform designed to streamline operations and elevate service delivery.
07:50: Ritik details the seamless, automated, and enriched client journey facilitated by Savvy Wealth, from discovery and onboarding to ongoing maintenance and interaction through an intuitive client dashboard.
10:43: Advisors praise the efficiency gains and enhanced client relationships made possible by the Savvy Wealth platform, highlighting the transformative impact on their practice.
Key Points:
Savvy Wealth's platform is a testament to the powerful role of technology in augmenting the capabilities of financial advisors, enabling them to focus more on client relationships and strategic advisory roles.
The platform eschews traditional, manual processes in favour of automation and integration, ensuring a smooth, streamlined experience for both advisors and their clients.
The development of Savvy Wealth underscores the importance of listening to industry needs and working closely with advisors to create solutions that address real, pressing challenges in the financial advisory landscape.
Tweetable Quotes
"Excited to do this and share how we're transforming the advisory landscape." - Ritik Malhotra
"Making something people want, seeing it solve real problems for advisors, that's what excites me." - Ritik Malhotra
"Efficiency isn't just a buzzword; it's the heart of what Savvy Wealth brings to financial advisors." - Jason Pereira
Resources Mentioned
Facebook – Jason Pereira's Facebook
LinkedIn – Jason Pereira's LinkedIn
Woodgate.com – Sponsor
https://www.linkedin.com/in/ritikmalhotra/
https://www.savvywealth.com/