Reinvention of Decision-Making Tactics in Financial Services – WealthManagement Informa
Following the Strategy & Resources Executive Roundtable held in Informa’s Manhattan Office on March 8, 2022, Michael Richardson, founder and CEO at Tech-Azur, commented on the challenging world situation and shared the emerging decision-making tactics in the wealth management world and financial services with the viewers of the WealthManagement Infoma’s YouTube channel.
Michael Richardson addressed the challenge of reinventing decision-making tactics in a fluent and rapidly changing post-pandemic era. He also stressed the crucial role of business communities’ support in mitigating the painful impact of the Russian invasion of Ukraine.
Rising up to New Challenges in Financial Service World
Michael is firmly convinced that global markets must bear new challenges today, in particular, the so-called Great Resignation, which demands deeper comprehension. It’s time for executives to abandon old operational and staff management strategies.
‘From my own career perspective, as I reflect on different times of chaos and flux like this, it’s times when great decisions are made, great teams emerge,’ Mr. Richardson said. ‘Thought leaders differentiate themselves by the things that they can synthesize from these challenges. It’s all about finding opportunities in the challenge, finding like-minded people to work with.’
Sharing Common Passion Across Business Teams
Mr. Richardson also endorses the idea of lean, agile methodology, replacing the traditional waterfall approach:
‘People say, “Oh, this is going to be a three-year project, and we’re going to plan it out for the first year and so forth. Life just doesn’t work that way at this stage, whatever industry we’re in.’
Michael emphasized that business growth should start with finding like-minded individuals. Then, teaming up, they grow their business and also create opportunities for the next generations of people. Such an approach encourages inclusiveness, as more people these days wish to address important topics. They wish to work on sustainability issues and defy global geopolitical turbulence.
Commitment to Ideals and Values
For those professionals who have been working with Ukrainian fintech specialists for years, just like Michael Richardson, the disastrous consequences of the russian aggression are quite personal:
‘...my team, people I’ve worked with for years, are affected. They’re in Ukraine, and their families are deeply and directly affected by what we see on TV in this part of the world.
So we’re trying to take action and seeking help from others who want to do more than just watch the news. We’ve put up a webpage Tech-Azur.com/Ukraine, an international community of people who can engage and support the humanitarian and relief efforts and do it on a person-to-person level.’
Michael strongly believes it’s essential to put your money where your mouth is: ‘If we don’t take action on our values, do we really get to claim them? This is a time in which really terrible things are happening, but really great things can result. And that’s what we were trying to focus on.’