Listen to this week’s episode

Episode 137

On this week’s episode of Next Mile, I sit down with Verity Larsen, Founder & CEO of Versoft Consulting. Versoft partners with RIAs to help navigate complex technology decisions, system conversions, and data strategy.

We discuss the realities behind data lakes in wealth management and why maintaining clean, accurate data is harder than it looks for RIAs. From the myth of "clean data" to the hidden costs of data lakes, Verity shares a behind-the-scenes look at why so many firms struggle to turn data into actionable insights. She also explores the limitations of AI, the operational disconnects that quietly slow firms down, and what it truly takes to make data work for growth and better decision-making.

Key Takeaways

• Start with the outcome, not the infrastructure. It's tempting to jump on trends like data lakes or AI, but without a clear use case, you'll end up with expensive systems that don't deliver value.

• Your data isn't as clean as you think. Many firms assume their data is accurate until they attempt to migrate or validate it. Taking the time to clean and fully understand data upfront can prevent months or even years of frustration down the line.

• Growth comes from visibility. When your data is structured and accessible, it becomes a powerful tool for identifying opportunities, improving profitability, and intentionally scaling your business.

Quotes

"A lot of people have been talking about collecting their data into a single source. They start with that initiative, but they don't actually think about what they want to do with that information once it's all together." ~ Verity Larsen

"Most people assume that their data is clean. So, they think that validating that data is going to be easy, and it's not." ~ Verity Larsen

"If you are looking to change systems or expand data warehousing services, make sure you scrub your data in advance so your source data is accurate, you know what you have, and you know what problems to expect if that data is moved into a different system." ~ Verity Larsen

Links

• Verity Larsen on LinkedIn

• Versoft Consulting

• SS&C Advent

• Joshua Brown

• Ritholtz Wealth Management

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• Milemarker.co

• Kyle on LinkedIn

• Jud on LinkedIn

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Kyle Van Pelt