Technological tools optimize operations, enhancing efficiency and allowing businesses to do more with less. These innovations empower the companies that use them to give their clients better-quality service at a lower price.
In the financial services sector, many companies have been slow to embrace, develop, and deploy the latest technology tools. Consequently, many consumers seeking financial services are forced to endure out-dated offerings and pay fees that are higher than they need to be.
“While the rest of the business world has evolved by adopting new technologies that empower lower costs and higher efficiencies, the financial services sector has lagged behind,” says Aaron Cirksena, founder and CEO of MDRN Capital. “When we saw in the aftermath of Covid that our clients were comfortable with the technology, we knew it was time to put it to use to deliver better services at lower costs.”
Cirksena has been a financial advisor for over a decade, working with multiple $1 billion teams at Morgan Stanley and independent financial firms. One of his areas of expertise is advising clients on optimizing their finances to achieve their retirement goals. He is a sought-after expert on financial planning, with his insights appearing in Forbes, Yahoo Finance, Kiplinger, and the Wall Street Journal.
MDRN Capital optimizes the benefits that Cirksena and his team offer to their clients by leveraging the power of modern technology. As a fully digital firm, MDRN Capital prioritizes efficiency and convenience, providing remote consultations and digital account openings. It focuses on delivering extensive services without the need for in-person meetings, allowing clients to enjoy their retirement while their financial needs are expertly managed.
“I designed MDRN to embrace a new era in the business world,” Cirksena says. “Our clients get a comprehensive range of services, including income planning, investment management, tax planning, healthcare, and estate planning, all with a greater degree of effectiveness compared to traditional providers. It’s financial planning for the modern world.”
Embracing the new normal of financial planning
Cirksena’s vision for MDRN Capital evolved during the COVID-19 pandemic. During that time, shelter-in-place orders and clients’ concerns about being in public places forced financial advising to be online.
As Cirksena and the firm he worked for pivoted to meet the new demands, they created an approach that was more comfortable and convenient. When in-office meetings were once again possible, Cirksena realized clients would rather participate in online appointments.
“I thought virtual meetings would be a temporary fix — something we did during Covid to keep things moving, ” Cirksena confesses. “I realized I was wrong after the controls were lifted. My clients still wanted to meet virtually, even those who only lived a few minutes from our nice Class-A offices. It made me realize it was time for a change.”
Offering clients better service and greater savings
As Cirksena thought through the possibilities of a fully digital firm, he realized it could deliver more than just convenience and comfort.
“Our model allows us to do away with the overhead expenses that drive up the fee structure at traditional firms,” Cirksena explains. “As a result, our clients enjoy fees on the entire client portfolio that average 30 to 40 percent lower than the typical advisor utilizing a conventional model. They also get services like estate planning, tax planning, and tax preparation at no additional cost.”
While the reduced fees that MDRN Capital offers would be welcome in any financial environment, they are especially helpful now as many retirees struggle to establish financial security. Recent reports show that only 34 percent of Americans are on track with their retirement savings, while 1 in 5 Americans over the age of 50 have yet to begin saving for retirement.
Many of today’s retirees must make do with less than they anticipated having in their retirement savings, which means looking for ways to save wherever possible. By cutting back on retirement planning fees, MDRN Capital helps its clients boost the impact of their investing and improve their retirement security.
“For retirees who got a late start or who are feeling the pinch of rising inflation, it’s definitely helpful to reduce spending on common expenses like gas and groceries,” Cirksena says. “Cutting investment management costs, however, allows retirees to save significantly more money over time than lower prices on consumer goods ever could.”
MDRN Capital’s model considers all of the needs of the modern retirement investor. It makes the process more comfortable, more convenient, and more affordable, providing retirement investors with services that meet them where they are and take them where they want to go.
