Jennifer Schell: Transforming Wealth Management through Behavioral Finance and AI
tl;dr
Jennifer Schell, CEO of Finliti, is transforming wealth management by integrating behavioral finance and AI-driven insights.
The platform, the Finliti Investor Profile Indicator (FIPI), helps wealth managers personalize financial strategies based on client behavior and risk tolerance.
Finliti’s hybrid approach empowers both wealth managers and individual investors, driving industry innovation and long-term growth through strategic partnerships and educational platforms like the Finlitiverse.
Jennifer Schell, founder and CEO of Finliti, is a visionary in the world of fintech, dedicated to revolutionizing how wealth managers and discount brokerages engage with clients. With over 15 years of experience in wealth management, she saw the need for more personalized approaches to understanding investor behavior and translating it into more informed financial strategies. Her work with co-creator Dr. Stefano Di Domenico, a personality psychologist from the University of Toronto, has produced Finliti’s groundbreaking Finliti Investor Profile Indicator (FIPI), a tool that brings behavioral finance to the forefront of wealth management.
From Wealth Manager to Entrepreneur: The Journey Begins
Jennifer’s entrepreneurial journey was born from her passion for both wealth management and creating solutions that make a difference. During her time in commercial banking and wealth management, she worked closely with many business owners whose drive and commitment to innovation left a lasting impression. This exposure sparked her interest in taking a more proactive role in financial solutions.
As the financial industry experienced digital transformation, Jennifer realized the existing models weren’t evolving quickly enough. She saw firsthand how many investors lacked the tools and guidance they needed to make sound decisions, often leading to poor financial choices, especially during market fluctuations. Instead of waiting for someone else to step in, Jennifer took the initiative to build a solution that empowers investors to make more informed decisions. This is how Finliti was born—a platform designed to provide individuals with the knowledge, control, and personalized advice they need to reach their financial potential.
The Inspiration Behind Finliti
The concept of Finliti arose during Jennifer’s years as a wealth manager, where she observed recurring patterns in investor behavior that often undermined their long-term goals. She noticed clients' tendencies to take on excessive risk during market booms and panic during downturns, which erased years of financial gains. Some investors even made decisions based on non-financial advice, such as horoscopes or television personalities, and often refused to sell profitable investments at the right time. This behavior highlighted a key issue: investor psychology was rarely considered in financial planning.
Jennifer realized that by understanding the psychological underpinnings of financial behavior, wealth managers could offer more effective, tailored solutions to their clients. Together with Dr. Di Domenico, Jennifer developed FIPI—a tool rooted in behavioral finance, backed by academic research, and designed to provide wealth managers with deeper insights into their clients' personalities and risk tolerance. FIPI is now the cornerstone of Finliti’s mission to blend human insight with technology for better financial decision-making.
Scaling Finliti: Innovation Meets Strategy
Finliti’s approach to scaling is as innovative as its core product. Jennifer and her team have drawn inspiration from successful SaaS models in the financial industry, leveraging AI, data, and digital tools to ensure Finliti remains future-proof. Finliti’s B2B2C model empowers wealth managers and discount brokerages to engage new clients while meeting regulatory requirements. Through key partnerships, particularly with RIA networks, Finliti is building a robust pipeline of clients who can benefit from personalized financial planning and data-driven strategies.
One of the most unique aspects of Finliti’s growth strategy is the development of the "Finlitiverse," a Web3 educational platform designed to engage clients in their financial journeys. This cutting-edge environment enables users to take control of their investments while allowing wealth managers to offer comprehensive financial services. The hybrid approach—offering solutions for both self-directed investors and those who prefer professional management—sets Finliti apart in an increasingly competitive landscape.
Challenges in the Fintech Landscape
As a fintech leader, Jennifer has encountered several challenges, including overcoming the industry's general resistance to change. Many financial institutions still adhere to traditional models, hesitant to fully embrace AI and other technological advancements. Jennifer and the Finliti team address this challenge by presenting AI as a tool that enhances, rather than replaces, the human element in financial advising. The FIPI model, for instance, continuously learns and optimizes based on new data, creating a seamless blend of technology and personal insight.
Another challenge Jennifer has faced is the financial industry’s slow adoption of innovative solutions, particularly when it comes to AI integration. However, Finliti positions itself as a solution that can minimize operational disruption while maximizing the benefits of modern technology. The company's approach to overcoming these challenges emphasizes educating potential clients about the transformative power of AI and behavioral finance.
The Road Ahead: Expanding Finliti’s Reach
Jennifer’s vision for Finliti is one of continual growth and expansion. The company is focusing on building strategic relationships with wealth managers and discount brokerages, particularly in key markets across the United States, including California, the East Coast, and southern states. By participating in industry events, speaking engagements, and strategic collaborations, Finliti is expanding its reach and positioning itself for long-term success.
The company’s Web3 educational platform, the Finlitiverse, is also poised to play a significant role in Finliti’s growth strategy. Through this platform, Jennifer aims to offer financial education in a more accessible, engaging way, helping investors of all experience levels navigate the complexities of personal finance. This focus on education not only empowers individual investors but also strengthens relationships between wealth managers and their clients.
Lessons Learned: A Founder’s Insight
Throughout her entrepreneurial journey, Jennifer has learned the importance of self-belief and perseverance. As a founder, she discovered that her passion for the intricate details of fintech sometimes needed to be translated into more relatable terms for others. However, staying true to her vision and aligning her solution with market needs has been key to Finliti’s growing success.
One of Jennifer’s most significant takeaways is the value of strategic partnerships. Building strong relationships with financial institutions and wealth managers who share Finliti’s vision has been instrumental in scaling the business. She has also learned the importance of managing burn rate and infrastructure to ensure sustainable growth, lessons that have helped Finliti engage with top financial institutions.
The Power of Networking: CWN’s Role in Finliti’s Growth
Jennifer credits much of her success to the network she has built through the Canadian Women’s Network (CWN). Attending Pathway, a CWN initiative, allowed her to meet fellow female entrepreneurs and build connections in Silicon Valley. These relationships have opened doors for Finliti, particularly in California, where the company’s unique blend of behavioral finance and AI has been well received. Jennifer continues to tap into this network for advice, growth opportunities, and collaborations that will help Finliti grow into a global leader in fintech.
Under Jennifer Schell’s leadership, Finliti is redefining wealth management by combining behavioral finance with cutting-edge AI technology. With her vision, passion, and commitment to making financial planning more personalized and accessible, Finliti is poised for rapid growth and long-term success.
Related Content
