Modernizing Wealth Management’s Data Infrastructure with Kyle Van Pelt

Milemarker’s CEO, Kyle Van Pelt appeared on Mammoth’s Beyond the Ordinary recently.

The market is flooded with financial data. Firms are sitting on goldmines of information, yet most are not deriving maximum value from it. To unlock this value, data integration is key. It enables different systems, including those used by advisors and their clients, to communicate with each other. By having all of the data centralized in one place and accessible by all relevant systems, firms are able to gain a holistic view of their clients and their portfolios. Only then can they deliver truly excellent customer experiences.

In this episode, Tommy talks with Kyle Van Pelt, CEO at Milemarker, an Integration as a Service (IaaS) company that delivers a fully-managed data integration platform for financial services companies. Prior to joining Milemarker, Kyle held leadership positions with several advisor tech companies, including wealth management platform Skience and risk management software Riskalyze.

Kyle talks with Tommy about how technology integration is a challenge for advisory businesses and how Milemarker can help solve it, new developments taking place in the wealth management industry, and why data integration is key to delivering excellent client and advisor experiences.

Key Takeaways

  • [01:57] – How Kyle began his professional career.
  • [03:58] – Kyle’s journey into the fintech and wealth tech industries.
  • [05:39] – What cold calling is and how it works.
  • [09:28] – How Kyle developed his expertise in wealth technology.
  • [12:50] – How technology integration is a challenge for advisory businesses.
  • [14:37] – How Milemarker solves data integration problems among financial services companies.
  • [15:46] – An example of how an API (Application Programming Interface) works.
  • [19:04] – What developments have been taking place in the wealth management industry.
  • [23:05] – The power of data in delivering excellent advisor and client experiences.
  • [26:29] – What Kyle learned from college sports setbacks.

Quotes

[13:48] – “Every financial advisor at the end of the day, their business is how well they serve their clients. So, when your technology is not talking to itself the way that you need it to, these firms cannot accurately represent themselves the way that they want to clients and to prospective clients ultimately because they are not in control of their own data journey.” – Kyle Van Pelt

[22:27] – “We like to say at Milemarker, it’s your data, your rules. If you have all of that at your control, you can write the rules about what type of client experience you want to build, what type of advisor experience you want to build, and what type of executive experience you want to build.” – Kyle Van Pelt

[25:02] – “You shouldn’t be driving around with a foggy windshield in your business. You shouldn’t be driving around without being able to answer the strategic questions. Your data, your rules.” – Kyle Van Pelt

Author avatar
Jud Mackrill
https://www.milemarker.co
Serving Financial Advisors since 2004, Creator of Award Winning Technology and Companies. CEO @ Milemarker. InvestmentNews 40 Under 40. Winner, XYPN Fintech Competition, Winner Fuse Best Advisor Innovation

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