April Rudin is a recognized expert in marketing to high-net-worth clients. She discusses how different attitudes towards technology can negatively impact firms. "Digital immigrants" who view technology as an expense rather than investment fall behind competitors and lose talented younger employees who expect up-to-date tools. Rudin argues technology generates revenue by improving client reporting, marketing, and speeding processes. Firms should upgrade from the "if it's not broke" mentality to see technology as a competitive investment.
2. April Rudin
April Rudin is the founder of The Rudin Group, a
wealth marketing firm that helps financial services
firms attract the high-net-worth clients they deserve.
A recognized expert in UHNW/HNW financial services marketing:
Frequent public speaker for groups such as the Family Office Exchange (FOX), Tiger 21, and
industry conferences.
Frequent contributor to Huffington Post, Family Wealth Report and many other publications on
wealth, next gen and technology.
Chair of HNW Advisory Board for the HFA (Hedge Fund Association).
Member of Advisory Board for PAM (Private Asset Management).
4. Digital Immigrants
Born before existence of digital
technology.
Adopted use of e-mail, smart phones,
etc. late in career.
Still may not be using social media.
(Why not?!)
6. Digital Natives
Grew up using digital technology.
Never known a work environment
without e-mail, video conferencing, etc.
View social media as an integral part of
their personal and professional life.
8. Why There Are Problems
ï Digital immigrants tend to hold senior positions at firms.
ïResulting Problem #1: The âtechnology is an expenseâ
mentality infects the entire firm, which leads to:
ïProblem #2: The company is light years behind the
competition in terms of technology and operations, and
ïProblem #3: Talented, tech-savvy younger workers
leave for better opportunities.
9. I Know What Youâre Thinking
âMy clients havenât complained yet.â
âHaving better technology would be nice
but we canât afford it.â
10. A Shift in Perspective
âTechnology is
an expense.â
must become
âTechnology is
a revenue
generator.â
11. What Tech Can Help
Client Reporting
Tech tool: 3D Printer
Aesthetically pleasing client
reports
Something new to show to clients
Tech tool: Client apps
Mobile reporting
Tech tool: Better CRM
software
Segmented and targeted
marketing and client reporting
12. What Tech Can Help
Attracting New Clients,
Keeping Current Clients Happy
Tech tool: Social media
training for staff
Maintain regular contact with
current and prospective clients
Create a âweb personaâ
Tech tool: Better web site
News flash: Your current web site
may be a turnoff.
13. What Tech Can Help
Speeding Up Processes
Fact: Better technology leads
to smarter, faster work.
Thus, it saves money.
Ask yourself : âWhatâs my
hourly rate?â
Need an example? Generating
client reports via CRM software
versus Excel spreadsheet.
14. Your Choice
âHey, It Still Worksâ
Mentality
âą Results in patched-
together, mismatched
infrastructure.
âTechnology = Investmentâ
Mentality
âą Makes you look like a
leading-edge firm.
15. Time for An Upgrade
âTo improve is to change; to be
perfect is to change often.â
â Winston Churchill