Revolutionizing Wealth Management for Advisors and Credit Unions with Mike Prior

Episode 056: Partnering with a platform that prioritizes service over growth offers valuable opportunities for advisors and financial institutions. This strategic approach, combined with the power of technology and data analytics, streamlines operations and fosters deeper client connections. Priority Financial Group's approach to wealth management, rooted in flexibility, control, freedom, and technology, is a blueprint for success in the financial services industry.

In this episode, Kyle talks with Mike Prior, CEO of Priority Financial Group. With more than 25 years of experience in the securities industry, Mike helps advisors and financial institutions reach their unique goals. He is a recognized industry expert and sought-after speaker who helps financial institutions adopt and implement a best practices approach to building successful investment services programs. 

Kyle and Mike discuss revolutionizing wealth management for advisors and credit unions, and the importance of data and technology in achieving clients’ goals.

In this episode:

• [02:27] - Mike's money moment
• [05:01] - What inspired Mike to start Priority Financial Group (PFG)
• [09:25] - Why Idaho Central Credit Union partnered with Priority Financial Group
• [10:52] - Why credit unions prefer the RIA model over traditional brokers-dealers
• [12:41] - Partnering with the University of Southern California
• [17:21] - Consolidation in the credit union space
• [19:03] - Mike's outlook on the future of credit unions
• [21:56] - How PFG helps credit unions capitalize on their data
• [24:30] - How PFG delivers its robo-advisor platform
• [26:43] - Mike's Milemarker minute

Key Takeaways

• Priority Financial Group's innovative approach to wealth management services for advisors and financial institutions sets a new standard in the industry, driving innovation and success in a competitive market.
• Providing options to RIAs and financial institutions enables them to tailor their services to meet the specific needs of their clients.
• The integration of technology and data analytics drives growth, streamlines operations, and enhances client relationships.

Quotes

[07:00] - "About 10 years ago, when we formed the RIA, it was to come up with a different idea, an alternative that was RIA-forward and RIA-focused. We are an RIA platform for advisors and financial institutions." ~ Mike Prior

[08:31] - "I've seen a lot of really neat things happening in the fintech space. But when financial institution people see what we have related to our core platforms, they're pretty impressed." ~ Mike Prior

[11:37] - "We care about every single advisor, every single client. That matters to us. Every institution is a client, a friend, and a partner. We don't have crazy growth goals; we have crazy service goals." ~ Mike Prior

Links 

• Mike Prior on LinkedIn
• Priority Financial Group
• Charles Schwab
• Fidelity Investments
• American Express
• Orion Advisor Solutions
• CRM - Redtail Technology
• Salesforce
• Idaho Central Credit Union
• University of Southern California
• USC Credit Union
• Difficult Conversations

Connect with our hosts

• Milemarker.co
• Kyle on LinkedIn
• Jud on LinkedIn

Subscribe and stay in touch

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• Spotify
• YouTube

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