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In this conversation, we chat with William (Bill) Capuzzi, CEO at Apex Fintech Solutions. In his role as Chief Executive Officer at Apex Fintech Solutions, Bill sets the vision and strategy to help Apex identify and realize new areas of growth and opportunity. Prior to his role as CEO of Apex, Bill worked at Convergex Group where he was Chief of Staff and a member of the firm’s Executive Committee. Bill also served as Director at Pershing LLC, responsible for their institutional product suite and directed their global re-engineering efforts firm wide.
Bill was elected to the DTCC Board of Directors in March 2022 and is also a current board member of TraderTools, Apex Fintech Solutions Inc., and Apex Clearing Corporation. Additionally, Bill is an EY Entrepreneur Of The Year 2021 Southwest Award Winner. Bill earned a Bachelor of Arts degree from Wesleyan University in Connecticut and a Master of Business Administration in Strategic Management from Rutgers University.
In Partnership
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1’50”: A breakdown of Bill’s foundational experiences
13’37”: Definitional breakdowns of custody, clearing, and settlement
19’19”: Unbundling custody solutions from broker-dealers and retail distribution, and the regulatory implications
27’04: The dynamic between digital wealth management platforms and either robo-advisors or traditional advisors using robo platforms that plug into their custody
31’07”: Joining Apex in 2010 - the customer profiles, tech stack, opportunities, and vision to where Apex is today
33’31”: Hyper efficiency - offering zero commission and fractional shares in 2015/16
36’52”: The current winning formula for B2C tech-enabled financial companies that Apex supports
40’27”: Channels to use to connect with Bill & learn more about Apex Fintech Solutions
Sneak Peek:
Bill Capuzzi: …there's kind of two dimensions of convergence. One, within FinTech, the convergence between banking and investing, investing and lending, we're seeing sort of this advent of super app. So, you have that on one side and then you have sort of traditional advisory, which by the way is where most of the assets live today.
I don't know about you, but through the pandemic, I sat at home, and I had CNBC on every day. I would watch these commercials for Schwab Intelligent Portfolios, which is sort of their robo product for the end customer. The commercial depicted this sort of goofy advisor interviewing a married couple and asking questions around how they manage the money. And the couple would respond by saying, "Here's all the cool things this Intelligent Portfolios does." And the advisor would be like, "Damn that Schwab." And I found that commercial striking because Schwab today sort of plays both sides, right? So, they have a direct-to-consumer product that's getting even bigger through the acquisition of TD, but they also support B2B, all these advisors that are sitting on their platform leveraging them as a sort of custodian where we started the conversation. And so, there's just conflict there, right?
Part of the reason the industry, at least the advisory industry, has tolerated it is because there really haven't been any good alternatives. So, if you're an advisor and you're managing a billion dollars, where are you going to go? And you're sitting in the US, you have Schwab, you have Fidelity, you have Pershing, which is purely B2B, but…
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