Entrustody's Anthony Stich says RIA custody deserves a little disruption

Financial Planning's Justin L. Mack and Entrustody Chief Revenue Officer Tony Stich talk RIA custody and fresh kicks at Future Proof 2023.

As 2024 begins and temperatures on Wall Street plummet, allow Financial Planning to transport you back to warmer days and one of the hottest wealth management events of 2023.

Financial Planning is taking a special look back at the annual Future Proof Festival, a one-of-a-kind industry gathering that attracted nearly 3,000 financial advisors, wealth management executives, fintech leaders, emerging startups, rap icons and more to Huntington Beach, California, during the second week of September.

Our walk down memory lane is a series of exclusive interviews with insiders and newsmakers conducted by Financial Planning Wealthtech Reporter Justin L. Mack, who also served as a panel moderator during the event.

In this clip, Mack chats with Anthony Stich, chief revenue officer at the custodial platform Entrustody. In addition to stealing the show on the Future Proof boardwalk with his retro Bo Jackson sneakers, the man known as "Mr. Purple" by his wealthtech peers said he was at the popular industry event to shine a light on the disruption taking place in the RIA custody space.

It was at Future Proof 2022 where Entrustody launched its platform during the Fintech Demo Drop, and Stich said the calls for even more custodial shake-ups have not quieted since then.

"The sentiment, the palpability of what [advisors] want out of a new custodian, this modern custodian … that's what I'm not only evangelizing on, but also learning about. It's bi-directional, and this space deserves … it's ripe for disruption," Stitch said. "The consolidations, it's too much for these advisors. Quite frankly, I get calls all the time and they're saying, hey, we just need to diversify. We don't want this to happen to us again. No more consolidation. So what a great time to talk about this, this is exciting. 

"This type of advisor, these 'future proofers,' these people who are thinking about the future … that's who I want as clients. And I'm confident that our platform will not only please them, but their investors as well."

Check out the full interview below.

Future Proof, an event billed as the first wealth festival, is making its return next summer and dates for Future Proof 2024 have already been announced. The event is slated to return to Huntington Beach Sept. 15-18, 2024.

Future Proof is also expanding in the new year with the addition of Future Proof Retreat, an additional event for wealth management leaders that will take place March 24-27 in Colorado Springs. 

And while you're here, make sure to check out more videos of FP @ FP:

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Technology Wealth management Fintech Practice and client management RIAs