Traditional Wealth Management is Broken. Here's How Range is Fixing It with AI

Traditional wealth management is >> broken.

>> Why?

>> Too expensive, too slow, not built for the modern world, relying on human relationships.

The world around us is changing and transforming. And it just felt like this

transforming. And it just felt like this industry has been left behind. And that tells me everything about why range is going to win and why range is going to transform

the industry with technology is because we have the DNA of a tech company. Why

didn't Encyclopedia Bratannica become Google? They had all the information,

Google? They had all the information, right? They had a head start. They had

right? They had a head start. They had

all the info in the world. Uh they

should be Google, but they're not. When

someone from outside the industry approaches the same problems the industry's been looking at for 5, 10, 50, 100 years, their perspective is just very different. Mark Cuban says this a

very different. Mark Cuban says this a bunch. He says, "If you want to disrupt

bunch. He says, "If you want to disrupt an industry, don't hire industry insiders." I completely believe in that.

insiders." I completely believe in that.

We're not blinded by fixing problems the industry knows about to make them more efficient or better in their own world.

I'm just trying to solve the problem that I have as a customer where I want a great product experience without an intermediary in the middle. And and

that's really what we believe at range with the power of AI. You do not need an a human intermediary. My question for firms that believe that it can only be

AI assisted is where is the AI going to fail where the human has to pick up the pieces? And no one's been able to

pieces? And no one's been able to clearly answer that for me, right? How

is a human going to fill the gap? Like

what gap is a human filling that AI is not going to be able to fill? Like I

don't I don't know. I've never needed that gap filled at Robin Hood. I've

never needed to talk to a stock broker there. I used it for 10 years. Great

there. I used it for 10 years. Great

product. Uh I've never needed a gap filled at Whimo. I take it all the time when I'm in San Francisco or other markets where they have it. I don't need a driver to drive me around anymore. I'm

totally cool being in a fully autonomous vehicle. I have no idea why in wealth

vehicle. I have no idea why in wealth management you would need a human being to pick up where AI leaves off cuz I don't really know where AI would leave off. And so today we are solving

off. And so today we are solving problems for high-income households that are in their 30s and 40s and early 50s

that have a lot of complexity that want to use technology that have a complex tax situation that have multiple rental properties that have high income growing net worth a complex life and they're

digital natives right millennials like myself. I'm 40, married two kids. I grew

myself. I'm 40, married two kids. I grew

up on the internet. I grew up in the '90s coding. I grew up entirely on the

'90s coding. I grew up entirely on the internet. Range is solving problems for

internet. Range is solving problems for the roughly 10 million Americans. They

don't want to go to traditional adviserss to pay exorbitant fees. They

don't want to go to traditional adviserss to meet with them all the time. Tens of millions of Americans that

time. Tens of millions of Americans that are craving a solution where they're stuck in spreadsheets. They're stuck in tax hell, if you will, investing hell.

They have no idea what their fees are that they're paying. They want someone to come in and help