Creating a Software Roadmap and Getting Creative With Sheryl O’Connor

Sheryl O'Connor

In today’s episode of Framework, Jamie talks with Sheryl O’Connor, the CEO of Wealth Conductor, a retirement income-based software that helps advisors demonstrate retirement income plans for their clients, track it, and update it throughout retirement.

Sheryl was recognized as a 2018 Female Founder in FinTech along with other accolades, but she started as a professional musician. She performed (and still does) for a while and then moved on to teaching before she started working with a large insurance firm, which is where she started blending technology into existing product lines.

When her husband came to her with the idea to start an investment firm, she jumped at the chance to be an entrepreneur. Seeing a need in the market for a focus on retirement income, Sheryl founded IncomeConductor.

Sheryl talks with Jamie about how it’s important for advisors to have a roadmap for their business, not to rely on software, and to provide what AI cannot. We also dive into the future of technology, the importance of being product agnostic, and how to package these together to truly deliver on your value proposition.

“I think there’s no more important phase of life when those things are needed than in retirement. But if they could focus on that and then use technology or outsourcing to take care of the rest of their business, then they could grow their business exponentially. And not only will they grow it, they will develop much deeper relationships with their clients because they’ll have the time to do it. ~ @incomeconductor

Main Takeaways

  • Being overwhelmed with technology choices is normal. Roadmap your relationship with your client and what you want to provide for them, then look for technology that supports those goals.
  • Creating a plan year-by-year with no long-term vision creates uncertainty for the retiree.
  • There’s a massive market opportunity in retirement planning specialization and almost exponential room for growth because as retirees age, they often want to be less involved in asset management.
  • Finding new and better value propositions in an increasingly automated world will be tough, but focusing on creativity and empathy and automating more menial tasks is a recipe for success.

Links and Important Mentions

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