If WealthTech was easy everyone would do it.
But because it’s not you have three choices.
You can build it. Buy it or partner.
What to do?

Build.

It’s the best long-term answer. It’s the right answer, but only if you have two or three things.

Patience.
Money.
Team.

Patience – 5-year outlook.
Money – US$ 20m at least.
Team – this is the hardest. Don’t use people in your business who think they can build a robo. They probably can’t. We thought we could when we started, we couldn’t. Took us 3 years to learn the basics of our craft. and 2 years more to hone it. Now, in year 7 we are getting really good. You have to hire some people who really know. Who knows all the trapdoors that will stop the project? Who knows what to see that isn’t there? To know how to market it like others won’t. To read the data like others can’t. And to build a tech stack that others didn’t think of.

If you have 20 million, a 5-year view, and the A team. Crack on.

Partner.

This is probably the safest option. Investcloud. FNZ. Bambu. Quantifeed. Investsuite etc. Many of us but not lots of us. All different. All unique. But one will suit you.

But don’t do an RFP. RFP doesn’t optimize for outcomes. It optimizes for who to blame when it goes wrong.

Meet. Talk. Look. Test. Understand. Once the partnership feels right, go for it. It’s not an exact science. But the RFP is the bluntest of tools. Human instinct is the best.

Buy.

It’s a buyer market. Valuations are down. Eagerness is up. But just like parenting it has to feel right. More than right. Fit like a glove. Because you are going to be working together for a long time. But if you find the right buy. That feels just right, the time is now.

You get Team. Tech. Brand. AUM. Clients. Experience.

That’s a valuable combo.

Buy. Build. Partner.
Only you know. But then again only you know.

Best,
Ned Phillips
Founder & CEO