RJM Resources Articles
Transforming Wealth Management Platforms
Published by Russell Morse
"This White Paper is intended to provide insight into how Wealth Management organizations might transform their legacy systems and processes into a modern Wealth Services delivery platform. The information provided assumes the reader has some general understanding of Wealth Management and Fiduciary Trust. The following information will be discussed in this paper:
- A brief biography of the author(s)
- The driving factors leading to a provider review
- An overview of the vendor selection process
- The Culture debate – Managing the emotion and fear associated with change
- The Conversion – The Essentials
- Overview of a successful Wealth Management Transformation
Summary Observations"
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Featured in the Press
Why trust departments stay with legacy tech—and why that’s a risk
Published by Cheetah, Inc.
"Why do so many trust providers and wealth managers still rely on outdated, clunky technology—when better alternatives clearly exist?
According to Russell Morse, a veteran wealth management consultant and Director of RJM Consulting, it’s not for lack of interest.
'When I get called in, it’s because there is an appetite for change on the wealth management side,' Morse said.
But that curiosity rarely translates into action, especially in the bank/trust environment.
For every ten firms that recognize the need to move on from legacy systems, Morse estimates only about three make a real push to change—and just one follows through."
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Why trust departments struggle with profitability—and how to fix it
Published by Cheetah, Inc.
"Trust departments are often treated as a necessary but unprofitable part of a bank’s offering.
'Leaders accept them as a cost of doing business, a service required to retain high-net-worth clients—even if the department itself runs in the red. But what if the lack of profitability isn’t a given? What if it’s the result of internal habits and outdated assumptions?'
Russ Morse, a wealth management consultant and Director of RJM Consulting, has spent decades working with trust departments across the country. His take is clear: profitability isn’t impossible—it’s a discipline problem.
Below, we break down the most common issues and outline a practical path forward."
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Bank trust departments: Are they leaving money on the table?
Published by Cheetah, Inc.
"Russ Morse, wealth management consultant and Director of RJM Consulting, who has more than 20 years in the trust world, echoed Stone’s sentiments and offered additional context into why internal referrals often fall short.
'It’s still a very siloed business,' Morse said. 'The folks on the bank side don’t know what trust does, and the trust side really doesn’t know what the bank side does. There’s just a lack of education.'
With independent investment managers increasingly offering trust services, the competitive landscape is shifting fast. Banks that fail to adapt risk leaving billions of dollars in assets under management (AUM) on the table."
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