 Today I have the pleasure of speaking with Jeff Mount from Real Intelligence. Is that correct Jeff? Yes, Tracy. Thanks. Nice to see you. Well, I have to tell you it's rare in my life I think this may have been one of the the best written news releases. I've ever seen Did you write this yourself Jeff? Or did you hire someone to do this? Combination. Yeah, a little bit that was mine and those Contribute contributions from our PR team. And for those of you out there that did not have the pleasure of having this come across your desk Listen to this. It says industry leaders such as Blockbuster, Toys R Us, Borders and Pan Am all ignored warnings to pivot then quickly failed to exit. Real intelligence and authority on the dynamic American financial landscape warns against behaviors that will lead Uneducated and under-trained financial advisors into her relevancy as artificial intelligence rises So how about we just start right there? What gives you the know-how put that kind of very powerful news release out to the rest of us? So we are seeing massive industry consolidation We are certainly seeing the rise of artificial intelligence as it relates to trading financial planning And of course we have robo advisors, which have very quickly Risen to compete in terms of assets and new management with even the insurance companies and bank brokerages I don't know that they'll ever take take over the big wire houses But they certainly have done a very impressive job in terms of growth and assets and new management with those smaller accounts I was recently at a group of investors. They had a room full of computers. They were explaining how 60% of everybody who enters the Day trading loses all their money because they make decisions based on emotions and the benefit of this artificial intelligence It is this true. I mean, you know, I can certainly look at my own portfolio and cease some validity to their argument It could be I mean time will tell I know last year I saw an article about SRI socially responsible investing on a robo based Format versus what advisors have been doing and the Robo's one but again, that was just one year We will see over time how that actually plays out But yes AI definitely is going to be challenging to compete against I think socially responsible investing by our Robo investors would definitely be down around I don't know our 10th episode if we can even get our heads around this so help me understand this I mean, I know you know 10 years ago when we were walking in in as investment bankers And they were telling us how our analysts and was Chinese Paul And we realized that it wasn't to take long before these senior analysts weren't going to have a job because they couldn't fight To hold on to these top brains and and intellectual abilities. You know, I know we We we hunt them we hunt for these these brains Can you tell me though how this artificial intelligence is going to replace our brains our experience But there's no question. It can do math far faster than any of us Is it going to understand the human condition better than us? No, that's where I think Human-centered financial planning is going to be valued by those people who have the most at risk Okay, we don't want to miss out on this. What do we do? I noticed your your website basically says You know, it's it's kind of I'd like to recommend more people check out here. You're linked in for sure I mean, it sounds like you take us, you know Sad depressed middle-class millionaires and help us become what happy middle-class millionaires or what's really the goal here? I'm actually quite curious. I found the marketing quite entertaining quite frankly. Thank you, Tracy So the objective here is to help the middle-class millionaire feel more confident about Matching up their assets versus their liabilities have a clear understanding as to what they can and cannot do and know that there is a human-centric Financial planner who is behind this to make sure that the strategic thought that comes out of the plan can be applied very quickly and very easily Okay, we know how this game works. We hire ourselves and you know investment manager investment advisor for giving get the get the terms Right, I got a lot of emails. We go out for lunch They tell us how they're taking care of us and we both know those aren't the brains making the decisions and you know We sign up with company a we're pretty much committed to all the tools and instruments sold by that company But we're restricted by it. Is this gonna provide us with more options in the future? I think what it's gonna do is number one offer a little bit more certainty as it relates to risk management because our Process of managing risk is less to do with the old institutional way Which of course is to do the risk profile questionnaire and rebalance systematically We don't believe in that at all instead We believe in aging of portfolios and we need to separate the portfolios on a purpose base Purpose basis if you will whether it's college tuition planning whether it's retirement Capitalizing a small business in the future the actual aging of the portfolio will be managed to the distribution date The advisor then has to deliver an experience that is going to deliver three sets of value propositions They'll be valued by the investor and those value propositions look and sound an awful lot like what you would expect from a family office Client service model which of course is generally reserved for very very wealthy people But we generally bring that to people who are in that middle-class millionaire time frame So those three value propositions or preservation of wealth in multiple ways Obviously we have an eye on investment risk But also managing taxes and managing the possibility of frivolous and fraudulent lawsuits Secondly restore their time to focus and family in their profession and last but not least a high degree of privacy and discretion Well, I don't want to offend you here, but you know frankly you look like a middle-class millionaire How are you finding out and breaking in creaking this door open into these? Multigenerational wealthy family secrets that the rest of us would like to know about I I noticed Your your company says you're gonna provide us with growth maintenance and exit And I know there's many people many of my peers that love all three of those terms and depending on where we are You know our enthusiasm So that the growth maintain and exit really is aimed at the advisor not the actual investor different message for a different group of people but as far as the family office format goes I happen to live in Fairfield County, Connecticut Which is a very very wealthy suburb of New York City surrounded by traditional family offices I'm heavily exposed to what the actual experience is like and Quite frankly we're at an age now where even the things that used to be Unaccessible for the middle-class millionaire really are becoming accessible like private equity investing through mutual funds and ETFs Just putting together the model requires some legwork from the advisor Okay, well, I'm just imagining you you right now sitting in Connecticut with your martini eavesdropping to the guy sitting next to you and taking notes Almost the the Robin Hood for the the middle-class millionaires Anyways, we would love to have you back again. Thank you so much for joining us today I'm absolutely certain our audience will enjoy this. Thank you, Tracy