With over 20 years of financial services experience, Dana Rhodes is the COO of Axtella, contributing valuable expertise on money matters and successfully crafting impactful wealth management programs. Working closely with financial professionals, she uses her keen eye to identify their product and compliance needs, skillfully combining both to gain a panoramic view of the advisory landscape. As a driving force and spirit behind establishing our NOVA Women’s Collective, Rhodes passionately advocates for the support and guidance of women in our industry and leads a united front in the pursuit of solidarity and success.
VettaFi: What brought you to Axtella? How is it different from other financial institutions you’ve worked for?
Rhodes: After a lengthy career in the independent broker-dealer space, I left to pursue an opportunity in fintech. While I loved my time there, I felt a calling to go back to what I love – creating platforms and processes to empower financial professionals. I knew about Axtella through my work in the industry and was drawn to its culture. In a time when there aren’t many privately held midsize broker-dealers in this business, the Rydell family is investing in people, technology, and taking the firm to the next level, so I wanted to be a part of that. Axtella is similar to its competitors in the product and technology offering, but it’s differentiated by its people, its personal touch, and its mission.
VettaFi: Axtella is a network of firms that houses two broker-dealers and an RIA. Is it challenging to cater to the needs of professionals that require different capabilities, or how does Axtella execute that balance?
Rhodes: We prefer to look at having a network of two broker-dealers and an RIA as less of a challenge and more of an opportunity. We’re able to demonstrate our commitment and versatility while catering to a larger audience full of diverse needs. Having a network of firms also means we must be proactive in anticipating the unique needs of each financial professional, and pivot or tailor our approach and services accordingly.
VettaFi: One of Axtella’s central tenets is “going the extra mile” for their advisors and their clients. Would you talk more about what that means to you?
Rhodes: “Going the extra mile” is a core tenet that should guide and inform our actions. At its core, it means providing exceptional service at every turn and delivering solutions that exceed expectations. It’s about putting the needs of the financial professional first, ensuring the small details matter, and committing to excellence. I think this is what sets us apart.
VettaFi: There’s a lot of industry chatter about the upcoming wealth transfer away from baby boomers and toward Gen X, millennials, and Gen Z. What sort of services or approaches does Axtella offer that speak to this wealth transfer?
Rhodes: To cater to the unique needs, preferences, and expectations of each generation, Axtella has developed a variety of services and approaches. We are leveraging technology to provide digital solutions that appeal to younger audiences and cybersecurity measures to protect their wealth. We’ve launched modern communication tools like MyRepChat to allow for quick and efficient client interactions. Likewise, we support various fee-for-service models. Younger generations often haven’t amassed significant assets, but they still need advice, so we leverage AdvicePay for ongoing planning services. We believe that all generations appreciate transparency, so we strive to provide clear and concise information. We continuously adapt to the ever-changing needs of each generation while remaining focused on high-quality and exemplary service.
VettaFi: One of Axtella’s values is demonstrating to end-investors how financial professionals aren’t just suits – they’re able to help people accomplish their dreams. Would you talk more about what that entails, and why it’s so important to your firm’s mission?
Rhodes: We believe that financial professionals don’t just help manage wealth but are partners in their client’s journey. This involves a commitment to understanding client needs, dreams, goals, and aspirations. We believe in empowering clients through financial literacy and education – which helps clients to make informed decisions. Adding to people’s lives in this way contributes to overall well-being. Overall, "we’re not just another suit" is a human-centric approach and commitment.
VettaFi: Finally, Axtella just completed a rename and rebrand within the past year. What sparked that decision? How has the change been received by your employees and financial professionals?
Rhodes: Axtella’s launch was a defining moment in our firm’s history, a moment of intertwining our legacy and the future. There was a desire to better reflect our mission, values, and our unique culture. Rebranding was also an opportunity to strengthen our commitment to financial professionals and our dedication to providing exemplary support and service. The new brand is a fresh, modern look and feel that connects the dots between our past, present, and future. The rebrand renewed a sense of pride and commitment within our organization because we built the brand as a connection point for all who share a collective mindset and desire to leave a positive impact on financial professionals and the industry.
For more news, information, and strategy, visit ETF Trends.
