Tag: AI Adoption
From WealthTech Chaos to Clarity with Larry Shumbres (Ep. 6)

From WealthTech Chaos to Clarity with Larry Shumbres (Ep. 6)

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The WealthTech space is bursting with options, but more choices don’t always mean better solutions.

Why are so many firms building one-off tools without considering the full advisor experience? And how can entrepreneurs design, grow, and even sell companies in this crowded market?

In this episode of The Outstanding Shift, Andrew Evans talks with Larry Shumbres, CEO and Founder of Archive Intel, about the state of WealthTech, the power of user stories, and the steps to successfully grow and exit a tech company. Larry also shares insights on AI adoption and the importance of iterative product development.

Larry discusses:

  • The evolution of WealthTech and why too many disconnected tools frustrate advisors and firms
  • How the lack of user stories and persona mapping leads to gaps in product functionality
  • The importance of building for smaller firms first, iterating, and scaling up to enterprise clients
  • Why advisory firms risk falling behind if they avoid AI and how to integrate it effectively
  • Key metrics, processes, and readiness steps for selling a tech company at a strong valuation
  • And more!

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About our Guest: 

Larry Shumbres is a seasoned entrepreneur and prominent figure in the FinTech sector, is dedicated to elevating the investment journey for both advisors and institutions through innovative and regulatory-compliant technology. With a wealth of experience spanning over 20 years and affiliations with industry giants like Charles Schwab, Morningstar, and New York Life Investments, Larry’s expertise is widely acknowledged. He recently founded, developed, and successfully exited Totum Risk, a pioneering risk tolerance platform, to TIFIN. Prior achievements include building SmartVision by eVestment, acquired by Nasdaq, and leading the sales team at eMoney, culminating in their acquisition by Fidelity. A sought-after advisor, Larry sits on multiple corporate boards, contributes to NASDAQ as a writer, publishes articles in industry journals, and has been featured in interviews on Bloomberg.

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Redefining Financial Services with Andrew Evans (Ep. 1)

Redefining Financial Services with Andrew Evans (Ep. 1)

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Is your firm doing too much and delivering too little?

In this first episode, Andrew Evans kicks off The Outstanding Shift by sharing his refreshingly honest views on the financial services industry, his bold approach to building Rossby Financial, and the power of focusing on “less but better.” He also reflects on cultural icons and what it truly takes to become “outstanding.”

Andrew discusses:

  • Why he left the traditional firm model to build a streamlined RIA that avoids conflicts of interest
  • The creation of ROffice: an on-demand support platform for advisors needing help only when they need it
  • His belief in “less but better,” drawing inspiration from essentialism to eliminate unnecessary tools, costs, and systems
  • Using business growth as a platform to develop the next generation, especially those overlooked in big firms
  • Why embracing AI is no longer optional for financial professionals aiming to stay relevant
  • And more!

Resources:

Connect with Rossby Financial: 

Connect with Andrew Evans: 

About Andrew Evans:

Andrew Evans is CEO of Rossby Financial. As the head of this organization, Andrew’s daily activities range from advisor/client engagement to paying the internet bill. With a solid background in field development and a love of technology, Andrew builds Rossby’s advisor experience to never outgrow the industry with the help of the amazing people around him.

Prior to Rossby, Andrew served as Executive Vice President of TAG Advisors and a Securities Principal of Cambridge Investment Research. Andrew served in various roles with Waddell & Reed, Raymond James & Associates, Merrill Lynch, and Charles Schwab & Co. He received his Masters of Business Administration from Indiana University of Pennsylvania and has completed the Executive Certificate in Financial Planning from Duquesne University. Andrew received a BFA in Communications from Ohio Northern University. Andrew is on the Technology Council for Cambridge and actively participates in industry technology events. Andrew and his family are residents of Melbourne, FL.

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