The Legends of WealthTech with John Thiel, John Connors, and Rich Aneser

The wealth management industry has changed tremendously over the last 20 years, and it’s difficult to remember that what we now consider the norm developed over time. Merrill Lynch’s shift towards goal-based wealth management transformed the industry and moved beyond a narrow focus on ROI. This new approach better-served clients by prioritizing their actual goals such as supporting family members, buying homes, or securing a comfortable retirement. The firm gained a substantial edge in an industry characterized by uniformity.

The people behind this approach are three wealthtech legends: John Thiel, Executive Advisor and Board Director and former Head of Merrill Lynch Wealth Management, Rich Aneser, Chief Strategy Officer at Envestnet, and John Connors, CEO and Co-Founder of Boathouse. The three discuss their tactics to shift advisors' perspectives in an industry averse to change.

In this episode, the three guests talk with Jack about how Total Merrill got started, how they successfully shifted advisors’ perspectives, and the challenges of building a business in the wealth management space.

Key Takeaways