For decades, the asset management industry has remained largely unchanged. Despite headlines about innovation and disruption, the landscape today bears a striking resemblance to that of a decade ago. The last significant product innovation, the Exchange Traded Fund (ETF), came from my previous firm BlackRock back in 1993!

Recent industry changes have primarily focused on two areas: pricing and consolidation. Many custodians have dropped commissions to zero, and asset managers have been lowering their fees year over year. However, this lack of pricing power is more indicative of commoditization than innovation. When nothing has changed, the only way to differentiate is to charge less. Simultaneously, we've seen widespread consolidation of advisors, asset managers, TAMPs, and everything in between. Commodity businesses often become businesses of scale, and scale requires extreme consolidation.

Then I saw Vise. In my 25 years in finance, I've never encountered anything quite like it. Here was a single platform that brought together portfolio construction, trading and rebalancing, reporting, and asset management—all in one place. It wasn't just another incremental improvement; it was a complete reimagining of how wealth management could work.

The moment I understood what Vise had built, I knew I had to be a part of it. That's why I'm thrilled to announce that I'm joining Vise as its President. This isn't just a new job; it's an opportunity to be at the center of the bold, radical thinking our industry desperately needs.

As President, I'll be working to ensure that Vise continues to push the boundaries of what's possible in wealth management.