A new era in wealth: A conversation with April Rudin
By Kristen Oliveri
April Rudin has long been at the forefront of innovation in wealth management. As the founder and CEO of The Rudin Group, she has helped brands around the world navigate the nuances of this complex and evolving industry. Most recently, she co-authored a book titled Wealth Management with a Difference. In this conversation with Kristen Oliveri, Rudin discusses how wealth is getting a facelift—and how she’s been a driving force behind the movement.
April, you’ve built an impressive reputation as an entrepreneur and trailblazer in wealth management marketing. What inspired you to take on the challenge of writing Wealth Management with a Difference at this point in your career?
Wiley is one of the world's most prestigious publishers so when they called, I listened. It turns out that there are no books on the wealth management industry - particularly globally. Each day, I see more changes in it due to the increase of ultra-high-net-worth (UHNW) individuals, quickly changing the wealthtech landscape and younger, entrepreneurs and women gaining steam as investors.
All of these factors represent opportunities for wealth managers, hence the subtitle "Wealth Management With A Difference - Your Guide to Achieving Client, Generational and Business Success" all of those areas add up to success!
Co-authoring a book can be quite the adventure. How did you and Nick [Rice] decide to team up, and what was your creative process like?
Happily, we've known each other for more than ten years and in a variety of capacities. I had been Nick's source at Fundfire/Ignites, he was my client at UBS and now he is part of the Financial Services practice at Brunswick group. I needed a journalist who knew wealth management and Nick immediately came to mind. We are a very good balance for each other as Nick is British, a bit more conversative, more investment heavy and communications/media experienced. Good yin/yang!
The book dives deep into generational shifts and the changing face of wealth. How does your own entrepreneurial journey reflect the themes you explore in the book?
I started my business in 2008 and a well-known industry expert told me at the time that I was too old to be an entrepreneur, banks would never hire outside firms, high-net-worth (HNW) people would never be "on" the internet and social media was a fad.
Instead of quitting, I leaned into all of those "no's" and made each of those "yes's." Also, my own Gen z kids were a huge inspiration. When I started in family office, I was stunned by the dull, old, musty looking brands that dominated the industry. I knew wealth was getting a facelift!
You’ve always been ahead of the curve on trends like next-gen wealth and women in wealth. Which topic in the book are you most excited for readers to discover?
I know it is silly to say "everything" but Nick and I remarked how much we each learned doing 80+ interviews with global wealth experts. Although we have a chapter on wealthtech, it really underpins everything that is changing in the industry from talent, to operations, to compliance, really everything!
Another seminal chapter is retirement. With 60-70% of advisors aging out and retiring over the next ten years, the lack of awareness or misconception of what a financial advisor does, and the demand for advice soaring, the retirement landscape for advisors becomes crucial for the industry. Combine that with the burgeoning number of people retiring and you can see what a major challenge we will have shortly.
Writing a book is no small feat for a busy CEO. How did you stay motivated and carve out time to bring this vision to life?
This project took us almost exactly one year from start to finish. The interviewing phase was the most fun and interesting, obviously, but then came the conceptual and writing phases. Your motivation for such a long project waxes/wanes as do business and life demands. We did do a "full court press" as our deadline approached. That was motivational!
What do you hope Wealth Management with a Difference inspires in today’s wealth managers and advisors? What’s next for you after this milestone?
We are hoping to bring Wealth Management with a Difference to life by offering training sessions for teams of financial advisors and leaders, but also even higher level insights for boards and advisors of major banks and wealth management firms. We are inspired to see it in action and not have it be a book that's read and put on the shelf. It's a playbook and not a textbook! What's next will be the action steps of putting the knowledge to use.
When you aren’t working, what’s your favorite thing to do?
Sleeping. I have grown fond of getting more rest. It makes a huge difference. I've been a lifelong tennis player, but I have recently been bitten by the pickleball bug!
Finally: what’s your superpower?
My superpower is my community and contacts and colleagues. I am proud to have built friends and a community that has helped me grow both personally and professionally. That includes YOU! I think we've known each other almost fifteen years!