Ep 357: Building A High-Tech High-Touch Advisory Firm With The Modern Advisor Tech Stack With Jon Henderson

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 31 October 2023

⏱️ 105 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jon Henderson is the Founder and CIO of Echo45 Advisors. Based in Walnut Creek, California, Echo45 Advisors oversees $163 million in assets under management for more than 180 client households. What sets Jon apart is his meticulous approach to integrating technology and personalized service, culminating in a finely-tuned advisor tech stack and a dedicated "Client Concierge" team member armed with a series of checklists to ensure unparalleled client experiences.

In this episode, we delve deep into Jon's journey, from his transition to his own firm after he left his more-than-$1 billion AUM team serving 420 clients at Merrill Lynch to his strategic use of technology. You'll learn about his "high tech and high touch" mindset as he expertly navigates the dynamic landscape of financial advisory and hear insights on his holistic perspective on delivering financial services in the modern age. From his pursuit of blockchain and digital asset knowledge to his unique amalgamation of cutting-edge software and personalized service, Jon's story is a testament to the coexistence of technology and human interaction in the realm of wealth management.

For show notes and more visit: https://www.kitces.com/357

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with
0:06.8	financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial
0:12.7	advisors navigated the inevitable challenges that arise on the path to success and get insight
0:18.3	from leading industry consultants about how to break through to the next
0:21.9	level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:28.7	Welcome to the 357th episode of the Financial Advisor's Success Podcast. My guest on his podcast is
0:34.7	John Henderson. John is the founder and CIO for Echo 45 advisors, an independent RIA based in Wannock,
0:40.4	Great California that oversees 163 million in assets and our management for more than 180
0:45.5	client households.
0:47.0	What's unique about John, though, is how he has carefully vetted and curated his advisor tech
0:51.0	stack of third-party software to provide a strong high-tech client experience,
0:55.4	and has then paired the technology with what he calls a client-concierge staff member
0:59.0	who leverages a series of internal checklist they developed to ensure that every client is
1:03.5	receiving a high-touch service as well.
1:06.1	In this episode, we talk in depth about how John evolved his high-tech and high-touch mindset to serving
1:11.5	clients by regularly iterating upon and updating his advisor tech stack while also elevating
1:16.3	his longtime client service administrator into a more holistic client concierge, because
1:21.0	the future isn't about tech or human service, it's tech and human service, each doing what
1:26.1	they're best at. Why John pursued a certificate in blockchain and digital assets from the Digital Assets Council
1:31.2	Financial Professionals and now uses a digital TAMP, Eaglebrook Advisors, to hold a 1% allocation
1:36.9	of cryptocurrencies for his clients.
1:39.0	And why, after 19 years at Maryland, John left his more than a billion-dollar AUM team
	...

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