01:57:35 · John Coogan, David Faugno, Andre Haddad
[01:57:35] S1: And the [01:57:36] S2: first thing that they do when they're there is they look around and say, well, what access is standing around here? What can I get access to immediately by just getting credentials? So you can go all the way back to where, you know, the Hugging Face incident started to make its way into the public discourse to everything that happened this week. And it's, you know, case after case, credentials being found and compromised. And that's our mission. Let's get that get that cleaned up from starter, and then let's make sure that we don't propagate that problem as we use AI internally and and make the problem worse over time. [01:58:07] S1: What is the one password house recommendation for personal use of hardware keys? Yeah. So... Is that something I should be onboarding my family members to after I [01:58:19] S7: got them on [01:58:20] S1: one password? [01:58:20] S2: Hopefully, you use multi factor authentication. [01:58:23] S1: Of course.
01:58:23 · John Coogan, David Faugno
[01:58:23] S1: Of course. [01:58:24] S2: You know, it's interesting. You can ask your agents to to stack rank the different forms of multi factor authentication in terms of security. The agents will tell you that, you know, a hardware key is going to be the most secure. It's also got some challenges associated with it. Sure. I use pass keys for second factor all... As much as I can, which I think is a really good way if you don't wanna go to the hardware way. SMS is probably the easiest to be compromised. Yep. SIM swapping is a real thing and it's pretty easy to implement. So the bad guys wanna get in, think you're covered through MFA. So at a minimum, I would look at TOTP or pass keys on one level. But if you're really concerned, a hardware key is helpful. And then really just the other thing that people are doing is they're just sort of like getting lazy about it. Well, you know, I'll store it in my browser you know, variety of different ways. But like having that end to end encryption and having that just in time delivery where the secret is never exposed or can't be read from a file is going to be really important because the cost to attack is going to zero. That means everybody's a target. [01:59:28] S1: Yeah. Right before it
01:59:28 · John Coogan, David Faugno, Jordi Hays
[01:59:28] S1: Yeah. Right before it [01:59:29] S2: was just the guys that were were big enough to be worthwhile going after. Yeah. When when the cost is auto... When it's automated and the cost is almost zero, really any standing access is a potential problem. Yeah. And so you really wanna make sure that that central control point, you know, is is the is the way that your agents or you get access to the things that are most important to you. [01:59:49] S1: Yeah. It used to be the most secure way was just writing down a sticky note, putting it on the desk. But now the smart TVs have cameras. They're spying on you. And so they'll see from the camera the pic... The picture picture of this of the sticky note with your password on it. And so there's no there's no other solution. You have to use one password. It's it's it's gonna be bad for the sticky note industry. I I It will. Knock on effect. You're if you're really as successful as I think you're gonna be. Some money to be made shorting sticky notes. I love the industry but it's it's it's bad news. Bad news, but your building's good. But thanks so much for coming on the show. Awesome. Awesome. Have a great rest of your day. [02:00:26] S0: Good stuff, David. [02:00:27] S1: Take you to the day. [02:00:28] S0: Thanks for the update.
02:00:28 · Jordi Hays, John Coogan, Mark Swan
[02:00:28] S0: Thanks for the update. [02:00:28] S1: Goodbye. Cheers. Let me tell you about the New York Stock Exchange. Wanna change the world, raise capital at the New York Stock Exchange. We're very excited to partner with the New York Stock Exchange. Our next guest is from the co founder and CEO of Netis, Mark Swan is with us with another Gong worthy moment. Welcome to the show, Mark. How are doing? [02:00:50] S3: Very, very good. Honored to be here, so thanks for having me. [02:00:53] S0: Honored to to have you. [02:00:54] S1: Thank you so much for coming on the show. Please introduce yourself and the company. [02:00:59] S3: Yeah. I'm Mark Swan. I'm the CEO and one of the cofounders of Nevis, and we're building an AI platform for wealth management. [02:01:06] S1: Very, very cool. Is there a particular scale of wealth manager that you're going after? Are you targeting the... Like, the big banks like UBS, JPMorgan to start or smaller firms, everything in between? How have you thought about Yes. Slicing up the market? [02:01:21] S3: So so our customers are primarily registered independent advisory firms, which make up the other big part of of the wealth management industry. And today, you know, our customers are some of the fastest growing, largest firms in the industry. There are about 700,000,000,000 of assets under management across all of them. And then that's... You know, we add about 50,000,000,000 of assets across those customers every single month. So it's it's a it's a big portion, but it's more on the RIA side rather than banks.
02:01:21 · Mark Swan, John Coogan
[02:01:21] S3: So so our customers are primarily registered independent advisory firms, which make up the other big part of of the wealth management industry. And today, you know, our customers are some of the fastest growing, largest firms in the industry. There are about 700,000,000,000 of assets under management across all of them. And then that's... You know, we add about 50,000,000,000 of assets across those customers every single month. So it's it's a it's a big portion, but it's more on the RIA side rather than banks. [02:01:46] S1: What is the killer feature that you're advertising to your customers? [02:01:52] S3: Yeah. So, like, we give financial advisers access to agents that help them automate pretty complex workflows end to end. So building investment strategies, tax strategies, all the way through to the operational things like moving money and open custody accounts. And so a financial adviser on Nevis can actually automate a lot of that work so they can grow their book of business and deliver more service that previously maybe wasn't possible without AI. [02:02:17] S1: And do you... Are you still working on, like, the intermediate artifacts of that? Like, there might be an Excel sheet or a or a spread or, a PowerPoint deck that gets sent to a client to say, hey. This is the strategy we're recommending. Here's a couple scenarios. We modeled it out all for you based on what we know about your financial position today.
02:02:17 · John Coogan, Mark Swan, Jordi Hays
[02:02:17] S1: And do you... Are you still working on, like, the intermediate artifacts of that? Like, there might be an Excel sheet or a or a spread or, a PowerPoint deck that gets sent to a client to say, hey. This is the strategy we're recommending. Here's a couple scenarios. We modeled it out all for you based on what we know about your financial position today. [02:02:34] S3: Yeah. We build actually a lot of that, like, in house. Okay. So so, like, there's tools, like, we'll build our own financial planning tools. We'll build our meeting prep materials. Sure. Like, more of that is actually getting, like, built vertically within Nevis. Yeah. But we also are, you know, obviously interacting with things like Excel and other systems as well. [02:02:52] S0: Yeah. You said meeting notes. Are you guys doing like a meeting? You have like Call a meeting recorder. Recordings? Like is that something that you brought in house? Exactly. It feels like... [02:03:01] S1: Exactly. Yeah. Yeah. You have an in house solution and not like... Because a lot of them might... A lot of wealth managers I imagine have like an ensemble of tools cobbled together, but you want to be more of like a compound startup?