Wealth as a Service: The Future of Wealth Management with Justin Singer

In this episode, Jack Sharry talks with Justin Singer, Partner at EY. Justin provides strategy and management consulting services to many top wealth management, asset management, insurance, and retirement firms to drive growth and retention, improve their offerings, and achieve stronger operating margins through strategic and tactical projects.

Jack and Justin discuss why WaaS (Wealth as a Service) is the future of financial services. Justin explores how financial institutions can use this integrated, cost-effective, scalable solution to drive efficiency and growth. He also dives into the key drivers behind this shift, the players involved, the exciting opportunities it presents, and the broader industry implications.

In this episode:

(00:00) - Intro

(02:23) - Wealth as a Service defined

(05:23) - Service providers in the wealth management space

(08:56) - The expected consolidation of broker-dealers and RIAs

(11:14) - Challenges for firms in operating wealth management businesses

(16:20) - How WaaS improves client outcomes and advisor efficiency

(18:51) - The industry's reaction to EY's Wealth as a Service research