On this week’s episode of the Financial Planning Podcast, Anthony Stich says the best part of shaking things up is what follows once things settle.
Stich, chief revenue officer at the custodial platform Entrustody, swings by the Financial Planning podcast this week to explain why the disruption happening in the RIA custodian landscape is boon to advisors and investors alike.
From mergers and new entrants to the establishment of a new big three, 2023 has seen plenty of change in the space, and Stich’s firm has played a role in plenty of the remixing.
But more than growing the business, Stich says he wants to make it better for everyone who touches it. It’s a mission-based mindset that goes back to his childhood, a time when he saw the power of money first hand.
“I went through a significant money moment with my family. My parents, they had a lot of kids. In fact, I’m from a family of 10 children. And so there’s a lot of financial challenges with that,” Stich said. “Now I’m not going to say I was poor. I don’t think that’s fair to say, but we were challenged with money to the point where we actually went through a bankruptcy and we lost our home.
“So I think that money moment coupled with my desires around psychology and sociology really was the perfect formula for being attracted to and staying in this industry.”
