How to Leverage Technology and Culture to Drive Business Growth with Jeremy Nelson
Episode 076: This week, Kyle Van Pelt talks with Jeremy Nelson, President at Element Wealth. Jeremy shares his journey from discovering investing as a 10-year-old in Canada to building Mississippi’s fastest-growing RIA. Jeremy discusses merging with Ross and Yerger, prioritizing culture and client relationships, and leveraging technology for growth. He explores AI’s potential to enhance advisory efficiency while maintaining human-centered service. From integrating new team members to fostering client trust, Jeremy highlights the importance of leadership, transparency, and personal connections in driving success.
In this episode:
- (00:00) - Intro
- (00:57) - Jeremy's Money Moment
- (02:38) - Early career and internship experience
- (04:27) - Client retention and referrals
- (06:27) - Merging with Ross and Yerger
- (10:09) - Maintaining company culture
- (16:25) - The role of technology in business growth
- (21:38) - Future trends: AI in the RIA industry
- (28:37) - Milemarker Minute
Key Takeaways
- Prioritize Culture and Client Relationships: Building a strong organizational culture and fostering deep client relationships are fundamental to sustainable growth in financial advising.
- Embrace Technology and AI: Leveraging technology, including AI, can enhance efficiency and client service, but it’s crucial to maintain a human-first approach to preserve personal connections.
- Navigate Mergers with Transparency: When merging firms, clear communication and transparency are vital to integrate teams effectively and maintain trust with clients.
- Invest in Leadership Development: Developing leadership skills within the team ensures adaptability and resilience, enabling the firm to navigate industry changes successfully.
- Balance Innovation with Personalization: While adopting new technologies is important, ensuring that client interactions remain personalized and human-centric is key to differentiating your advisory services.
Quotes
“I think AI is going to become a massive productivity tool that we're going to be able to leverage and we're just scratching the surface.” ~ Jeremy Nelson
“ The only way to be efficient is technology, right? And by putting that at the center of our business, operationally, it enables us to handle more and more clients.” ~ Jeremy Nelson
“When you do a good job with your clients—when you connect with them on a personal basis, when you understand where they are in life, what they're trying to achieve— you're working together in a partnership. They're going to be really willing to refer you because they like you.” ~ Jeremy Nelson
Links
- Jeremy on LinkedIn: https://www.linkedin.com/in/jeremy-my-element-wealth/
- Element Wealth: https://myelementwealth.com/
- Legg Mason: https://en.wikipedia.org/wiki/Legg_Mason
- Nintendo: https://www.nintendo.com/
- Ross and Yerger: https://www.rossandyerger.com/
- Juli-Ann Marquette: https://www.linkedin.com/in/juli-ann-my-element-wealth/
- Principles for Dealing with the Changing World Order by Ray Dalio: https://www.amazon.com/Changing-World-Order-Nations-Succeed/dp/1982160276
- The Psychology of Money by Morgan Housel: https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
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