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Jeff Marsden is Chief Product & Strategy Officer at Xtiva Financial Systems. He has founded or co-founded five companies across several industries. He is a frequent contributor to industry publications, patent holder, mentor to founders of start-ups, and member of the Board of Directors of Bristol Gate Capital Partners.
Takeaway Quote:
“We need to think about how you can use technology to understand your clients in a different and more profound way.”
Show Timeline:
1:56 An introduction to Xtiva Financial Systems
2:59 Notable trends that Jeff sees affecting the financial services industry in the near future
7:37 How technology is enhancing advisory performance and client confidence
12:58 How advisors can take advantage of technological tools in spite of corporate limitations
16:38 Xtiva’s five-step guide to create a more engaging client experience
21:49 Using technology with clients in more innovative ways to gain a deeper understanding of their needs
27:02 Examples of personalizing digital tools to work for your business and clients
33:10 The impact of deeper client conversations on your business and how to take action
Links:
Websites: https://xtiva.com/
LinkedIn: https://www.linkedin.com/in/jeffmarsden/
Twitter: https://twitter.com/Jeff_Marsden
Want more?
Stephen Wershing: www.TheClientDrivenPractice.com/checklistblog
Julie Littlechild: www.absoluteengagement.com/blog
Episode Transcript:
Julie Littlechild:
Welcome to another episode of Becoming Referable, the podcast that helps you be the kind of advisor people can’t stop talking about. I’m Julie Littlechild, and on this week’s show Steve and I are joined by Jeff Marsden to look forward at the industry and how current trends will impact how we generate referrals. Jeff is the chief product and strategy officer for Xtiva Financial Systems, which provides the industry with sales performance management and incentive compensation management technology systems.
Now, Jeff has a great strategic mind, so we talked to him about some of the trends that are impacting how advisors will deliver advice and create a more engaging client experience in future. We look at what Robo 2.0 will look like, and other digital trends that will transform the client experience. We asked Jeff to share examples of how technology is driving deeper engagement, and of course how all of that ties into more referrals. With that, let’s get straight to the conversation with Jeff.
Hey, Jeff. So happy to have you here today. Welcome to Becoming Referable.
Steve Wershing:
Welcome, Jeff.
Jeff Marsden:
Well, thanks for having me. It’s a real pleasure to join you. It’s been anticipating this for a quite a few weeks, so let’s get to it.
Julie Littlechild:
Absolutely. I am lucky enough, Jeff may argue this, but to call Jeff a friend as well as a colleague. It depends on the day really, doesn’t it Jeff?
Jeff Marsden:
Thankfully you tolerate me from time to time.
Julie Littlechild:
Yeah, indeed. I want to talk to you about industry trends at a higher level because you’ve got a great strategic mind, and I’d love to get that before we dig in a little. But even before we get to that point, can you just start and tell us a little bit about Xtiva and the work that you’re doing now?
Jeff Marsden:
Yeah, sure. Thanks, I’m happy to do that. We are the only sales performance management platform dedicated to the financial services vertical. That’s probably the most simple summary. From a market segment perspective, we’re a sales performance management firm. Rather than worry about consumer packaged goods or travel or any of those other market segments, we’re just 100% focused on financial services. We think it has unique needs, unique issues, and we’ve got a track record in the space, and we love it. I guess to phrase it a different way, we’re focused on helping change how sales, service, and advice channels in financial services globally perform.
Julie Littlechild:
Well, that’s a big mandate.
Steve Wershing:
It is.
Julie Littlechild:
There you go. We’ll make sure there’s links so the people can learn more about that. But as we’re talking about big issues and big mandates here, I did want to talk to you about some of the trends that you see impacting advisors and how they deliver advice, how they deliver a strong client experience going forward.
Jeff Marsden:
Sure. Well, what a period of change we’ve been through over the last decade, Julie. We’ve been observers of this industry and practicing in it together and independently for quite a few years. I would say the last few have been monumental. But you asked about some of the bigger trends that we see or I observe, and specifically perhaps related to advice. Look, I think maybe there’s maybe four or five that we reflect on on a regular basis, and I might start with the one that is commonly in the press, which is the shifting regulatory environment. It’s hard to ignore that. We’ve come out of this from the US market perspective with that crazy “Is the DOL going to happen, not going to happen? What’s it going to look like? Oh, it’s going to happen again?” But that’s just symptomatic of a regulatory environment which I think has struggled to keep up with customer needs and customer demand, and the complexity in the marketplace. And that’s affecting how advisors work. It’s affecting how firms structure themselves. It’s, quite frankly, representative of what the customer experience maybe ought to be in the future.
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