5150 Taps Former Merrill Lynch Leader to Strategic Advisory Board

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John “Launny” Steffens, Spring Mountain Capital Chairman/CEO brings financial services marketing and distribution expertise to newly launched firm.

Phoenix, Arizona – April 2020 5150 Digital Marketing Group announced that John “Launny” Steffens has joined its Strategic Advisory Board. Mr. Steffens is currently the Chairman and Senior Managing Director of Spring Mountain Capital, a private investment firm specializing in alternative asset management. Prior to Spring Mountain Capital, he spent 38 years at Merrill Lynch and held numerous senior management positions, including Vice Chairman of Merrill Lynch & Co., Inc., and Chairman of the U.S. Private Client Group. 

“We could not be prouder or more honored to have Mr. Steffens be a part of our Strategic Advisor Group. I am not sure there is anyone in the industry with the marketing experience and investment success of Launny Steffens,” said 5150 President Joe Worden. During his time at Merrill Lynch, Mr. Steffens built and led one of the largest and most successful advisor groups in the history of Wall Street. Aside from building Merrill’s “Thundering Herd,” Mr. Steffens is also credited with shifting the marketing focus from “some things (stocks and bonds) to all people” to “all things for some people”— a market shift that helped take Merrill Lynch from $200 billion to nearly $2 trillion in AUM.

Steffens expressed his anticipation for the evolution of the 5150 initiative:

“As the financial services industry continues to be transformed by innovation and automation, data-driven firms are experiencing lower investor acquisition costs, increased investor retention, and higher investor advocacy rates. As the industry continues to shift away from traditional strategies and tactics, I am excited to watch Joe Worden and his 5150 team incorporate their unique views on relationship marketing, fund distribution and investor relations into their digital platform.”

5150’s strategic advisory group, comprised of a diverse group of distinguished leaders, has been assembled to provide unique insights and guidance as the firm prepares to enter the second phase of its paid beta testing. The firm plans to launch its data-driven digital solution for small to mid-sized wealth and asset managers in the first quarter of 2022, following the completion of its second phase of beta testing.

About 5150: Bridging the Digital Divide

Utilizing a subscription-based platform, 5150 allows firms to embrace the advantages of data-driven technology, simplifying the path to digital transformation by lowering the cost, removing the technology integration risk, and eliminating the need to hire additional talent. Through its digital platform, the company equips wealth and asset management firms of any size with the tools, technology, and support to compete in the rapidly evolving digital landscape. 5150’s integrated platform, The Digital Bridge, is the solution to many firms’ digital needs all powered by data-driven technology. Its main goal? To enhance marketing, prospecting, and communications effectiveness.

Contact 5150 Digital Marketing Group

(602) 855-9374
Joe Worden – jw@5150dmg.com

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