Transforming Wealth: Silicon Valley Wealth Management Alums "Marry" Talents to Form New Wealth Technology Venture
SAN FRANCISCO, Oct. 19, 2017 /PRNewswire/ -- Doug and Liz Fritz, two former wealth management executives in major banks, have formed F2 Strategy — a Silicon Valley-based wealth management technology and marketing firm. "I wish I had had a service like F2 Strategy when I was a Chief Technology Officer to help me bridge the gap between emerging client needs and the current lack of a digital wealth experience," says Doug Fritz CEO of F2 Strategy. "None of the large consulting firms had the experience of delivering modern innovation from within a large financial services organization. Most of my lessons were learned the hard way. I decided to start F2 Strategy to save others from going through the same trial and errors as I did."
"The meaning of a great customer experience has evolved from a firm handshake to a live human at the other end of a phone, to a 24/7, multi-channel experience for the customer, whether through their smartphone browser or sitting across the table from their financial advisor." said Liz Fritz, Chief Marketing Officer of F2 Strategy. Over the next 30 years, $30 trillion will change hands as wealth is transferred from Boomers to their heirs.1 Caught in the midst of this transfer are wealth management firms, banks, financial advisors and other investment advisory organizations, which face shifting customer expectations and the rise of digital-first technology that threaten to upend the business model that has existed in the wealth management space to this point.
Doug's 20 years of experience as Senior Vice President and Chief Technology Officer at the private banking arms of Wells Fargo and First Republic is complemented by Liz's experience of more than a decade leading marketing efforts for the HNW and UHNW segments at Bank of the West Wealth Management, a subsidiary of one of the largest wealth managers in the world, BNP Paribas, Wells Fargo Abbot Downing and Ascent Private Capital Management of U.S. Bank.
"The wealth management industry is facing an existential moment," said Doug. "Wealth management firms with decades of history, experience, and financial stability are facing the task of addressing the needs of a customer who is looking for an increasingly digital, user-friendly, boundary-less experience with their wealth. Firms who don't evolve alongside their clients face a challenging future while those who are proactive in using technology to their own benefit will put themselves in a position to thrive."
"There is an incredible opportunity for using wealth technology to better serve clients," said Liz. "A differentiated experience and a brand that reinforces that value is essential for doing business in the wealth management industry today, and will only continue to become more so moving forward."
Examples of recent F2 Strategy client engagements include:
- Build/buy assessment for large global wealth management firm
- Fund distribution model innovation through digital advice for one of the largest global fund managers
- Digital wealth management roadmap and vendor assessment for a leading regional bank
- Technology vision and implementation for well-known Silicon Valley based RIA
"F2 Strategy sits in a unique position within the wealth management industry," said Doug. "Our deep technological and marketing experience is the perfect complement for any wealth management firm, family office, or RIA, whether they are innovators looking to maximize customer satisfaction or firms just trying not to be left behind."
About F2 Strategy
F2 Strategy provides boutique consulting services globally to support existing technology teams and marketing departments within the wealth management, family office, RIA and wealth manager space, to help these companies align their technology platforms and distribution channels with the wealth management experience that their clients expect.
1 Accenture, The "Greater" Wealth Transfer, https://www.accenture.com/us-en/~/media/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Industries_5/Accenture-CM-AWAMS-Wealth-Transfer-Final-June2012-Web-Version.pdf
SOURCE F2 Strategy
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