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The Future Of The Innovative Digital RIA Firm: Infrastructure Ownership & Retire On Track

The Future Of The Innovative Digital RIA Firm: Infrastructure Ownership & Retire On Track

Right now, it seems like everybody's trying to make a name for themselves in the fintech space. Not only is it extremely competitive, but ideas can be a bit redundant. Luckily, metro-Detroit based David Phillips, founder of Retire On Track, has been in the fintech and digital lead generation industry for years and offers a niche product and service.

Here’s the idea: instead of generating shared leads for clients, Retire On Track builds clients their own digital infrastructure. In the end, this helps clients capture exclusive service-based leads. For the most part, Retire On Track works with financial advisors looking to build their client pool with scalable digital solutions.


If you’re looking for leads, owning your own digital infrastructure is invaluable. Because you own the infrastructure, you own the data. And, the data is in a secure and FINRA and SEC compliant network.

This is especially important as of late. Think about how complicated recent data breaches have been; absolutely nobody wants to be the face of another security or privacy scandal. It can ruin both your reputation and business. When you’re working with leads and data ownership, security, and compliance trump all.

Data and digital infrastructure ownership also allows for something else: more growth potential for an advisory firm. Automated leads in a targeted marketplace - in this case, those seeking retirement planning - activate this potential. And, in the end, if you’re in the business of growing an advisory firm with an exit strategy in mind, this is of the utmost importance. Most RIA firms that Retire On Track consults with have strategic growth goals between one and one hundred billion dollars.

'Take The Wheel'

Phillips, the self-proclaimed blue collar founder and CEO, prides himself on his business model. Looking ahead, he thinks the model is the future of digital lead generation. He believes that “future industries depend on building their own marketing platforms” and that it allows business to “take the wheel and truly be behind the business.”

And, Phillips has found a believer. A large independent advisor has signed on for year one: Kevin Conard, CEO of The Retirement Planning Group. The Kansas-based firm sought out Phillips’ exclusive lead model earlier this year and went live on May 1.

For Conard, owning the lead generation data creates an environment where competition is low and consumers are more comfortable.

Conard notes that now, more than ever, consumers are taking the digital route when seeking out an advisor. Consumers are intimidated to meet with an advisor face-to-face; if they find an advisor online, they don’t feel pressured or trapped to buy into a product or service. They can look at photos, videos, and products at their own pace. And, most importantly, they can say yes or no with the click of a button. That’s an empowering consumer experience.


Consumer accessibility also played a large part in Conard’s decision to sign on. Those looking for retirement planning advisors online are often comfortable with taking appointments over the web via video chat. That way, Conard’s advisors can take more appointments and his clients can meet with an advisor in the comfort of their own homes - a win for both parties.

And, higher accessibility leads to growth. Conard believes The Retirement Planning Group is larger than Kansas and the Midwest and with the help of Retire On Track, they’ll be able to reach scale. In fact, Conard says he’s gotten more accomplished in the last thirty days than the last five years with his former digital partner.

At the end of the day, Conard’s team wants to find the people who are searching for assistance in financial planning and help them build a solid plan for retirement. He says that, “Retire On Track gets you in front of the eyeballs of people looking for help.”

Posted-In: Education General Best of Benzinga


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