Why RIAs That Take Workflow Management Seriously Are Growing 33% Faster Than Their Peers

Modern Financial Advisor

How I Built and Sold My FinTech Startup: Louis Retief of Hubly on The Modern Financial Advisor Podcast

In this episode of the Modern Financial Advisor Podcast, host Mike Langford sits down with Louis Retief, co-founder of Hubly, for an in-depth conversation about his entrepreneurial journey in the wealth tech industry.

Louis shares his experience of founding Hubly right out of college, the challenges and opportunities he encountered, and what it's like to have his company acquired by Docupace. They discuss the importance of efficiency and workflows for advisory firms, the role of operations managers in decision-making, and the ongoing consolidation in the wealth management tech space.

Louis also provides insights into how Hubly and PreciseFP are working together post-acquisition and the long-term vision for integrated solutions in financial advisory firms. This episode is a must-watch for anyone interested in fintech, wealth management, and entrepreneurship. Don't miss it!

Chapters:

00:00 Introduction to Hubly and Efficient Advisory Firms

00:52 Welcome to the Modern Financial Advisor Podcast

02:12 Louis Retief's Journey and Hubly's Origin

03:12 The Importance of Workflow Automation

17:13 Challenges and Solutions in Financial Advisory Firms

27:20 Understanding the Financial Advisory Market

33:27 Building for the Back Office

34:43 Lessons from Social Wear

36:38 Hubly's Strategic Pivot

37:43 Acquisition by Docupace

39:15 Research and Decision Making

47:00 Post-Acquisition Integration

49:17 Future Vision and Product Development

53:27 Entrepreneurial Insights and Challenges

56:12 Importance of Long-Term Thinking

58:37 Due Diligence in Tech Partnerships

01:02:12 Final Thoughts and Farewell