Interview with Sloan Shanahan of FusionIQ: Why Behavioral Finance Is the Unsung Hero of Wealth Management

Host - Rory Holland - cstmr.com - Linkedin: CSTMR

Interviewed - Sloan Shanahan, FusionIQ - LinkedIn: FusionIQ

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In this Episode

In this conversation, Rory Holland interviews Sloan Shanahan, the CRO of FusionIQ, discussing the company's mission to enhance wealth management through technology and the principles of behavioral finance. Sloan talks about how her time as a collegiate golfer at Clemson informed how she builds sales teams. She also explains how the future of the financial services industry will be dependent on collaboration between fintechs and financial institutions.

Key Takeaways

• FusionIQ helps banks and credit unions capture deposits and grow revenue through wealth management.
• Sloan's upbringing in a high-performing environment shaped her work ethic.
• Playing college-level golf at Clemson taught Sloan time management and accountability.
• Generational wealth transfer presents both challenges and opportunities for banks.
• FusionIQ's platform helps banks engage younger clients effectively.
• Behavioral finance heavily informs FusionIQ’s product development roadmap.
• Sloan emphasizes the importance of aligning personal and organizational missions when building a career.
• If fintechs want to survive, they need to collaborate more closely.
• Staying informed about industry trends is essential for developing a career in fintech.

Chapters

00:00 Introduction to Fusion IQ and Personal Background

02:36 The Journey of a Competitive Athlete

05:15 Understanding Fusion IQ's Wealth Tech Platform

06:49 Understanding FusionIQ's Prospect Universe

08:22 How Do Financial Institutions Perceive FusionIQ?

10:51 The Challenge of Wealth Management at Banks and Credit Unions

15:45 How Behavioral Finance Is Changing Wealth Management

18:43 Using Behavioral Finance to Improve Education

20:17 Enthusiasm from Prospects In the Marketplace

21:46 How Clients Are Using FusionIQ and Winning

23:39 What FusionIQ Can Do for Non-Traditional Financial Providers

25:32 The Importance of Client Education and Holistic Experience

27:01 Sloan's Origin Story in Fintech

30:35 The Gifts of Mentorship and Competitive Sports

35:31 Future Aspirations and Hyper Growth in Fintech

37:36 Cooperative Ventures and Fintech Ecosystems

39:49 Advice for Aspiring Fintech Professionals