The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Scott: Wealthtechs scale by helping advisors win clients, not migrating assets
“If you're serving this kind of client, especially investment management, it's very difficult to convince someone to invest millions of dollars with you when you don't have millions of dollars under management, right? Like this is just a chicken egg zero one cl…”
Scott: 'Move fast and break things' does not work in asset management
“We can't go and do this sort of move fast and break things type software man's mindset because you can't do that in institutional capital management.”
Doug Scott: Finance is shifting toward transparency like the food industry
“That same thing is going to happen and is happening in financial services where the sort of increase in commoditization and product and products within products, you've lost connection with what you're actually investing in or whether those things are actually…”
Scott: Enterprise sales into wealth firms requires activating every organizational level
“If you want to have real success, you've actually got to activate each of these different levels. Like you have to make sure you're connected at the executive level.”
Scott: Ethic grew from $5M to $250M AUM between 2017 and 2019
“Between 2017, we're a handful of million unmanaged at the end of 17. Fifty million, at the end of 2019, we're about two hundred fifty million.”
Scott: Ethic pitched over 100 investors to close its early rounds
“Oh, well over a hundred, and a very small portion of those ended up investing.”
Ethic distributes personalized portfolios exclusively through financial advisors as a sub-advisor
“It's all with financial institutions. So our customers are like a, an ideal sort of customer fit for us would be a registered investment advisor here in the year. So wealth advisor that's working with, let's say, a 150 clients managing a few billion dollars. T…”