Why knowledge equals power in Wealth Management

Maximising Supplier Value in Wealth Management

In this special episode of FinTech Focus TV, recorded live at the Summit for Wealth Management in London, Toby Babb sits down with Robert Hupe, Management Consultant and Practice Head at Knadel Solutions Ltd. The conversation offers a comprehensive look at supplier strategy within the wealth and asset management industries. It delivers essential insights into how organisations can improve supplier relationships, mitigate risk, and use the right tools and structures to scale profitably in a competitive, technology-driven world.

As a leading FinTech recruitment business, Harrington Starr is committed to promoting conversations that matter. This episode explores crucial topics for anyone invested in the digital transformation of wealth and asset management, including the importance of long-term supplier partnerships, supplier risk oversight, operational resilience, and the intersection of consultancy and technology in the FinTech space.

FinTech Supplier Strategy: Addressing the Value Gap

At the heart of Robert’s message is the observation that financial organisations are not maximising the value of their supplier relationships. While firms are increasingly reliant on third-party vendors—from software providers to full business process outsourcing—many are failing to fully realise the return on those investments. This misalignment often stems from a misconception: organisations treat supplier selection as the endpoint of a process, rather than the beginning of a strategic partnership.

Knadel Solutions addresses this issue by helping organisations through both consultancy and technology arms. They provide practical solutions to help firms meet the expectations set at the outset of these supplier relationships. The emphasis is on optimising supplier performance and collaboration over time, rather than just securing the contract.

Robert outlines how firms often invest a considerable amount in supplier selection and implementation but then move on to the next project or initiative as soon as the system goes live. As he rightly points out, this is a flawed approach—the go-live stage should be viewed as the beginning of the journey. Continued focus, collaboration, and measurement are essential to achieving the outcomes originally outlined in the business case.

Strategic Partnering in FinTech Supplier Selection

Robert and Toby discuss a widespread challenge in FinTech supplier engagement: companies are inundated with sales pitches and demos but lack the structured expertise to assess which partners will actually deliver value in the long run. Robert stresses that companies need to go beyond superficial selection processes and instead treat vendor selection as a critical part of business planning, one that hinges on cultural compatibility and long-term alignment.

Robert notes that the success of any supplier relationship relies on three key elements: solving a genuine business need, selecting a true partner (not just a vendor), and creating a governance framework that allows for continual collaboration and improvement. He explains how Knadel Solutions brings subject matter expertise into the process, helping clients cut through the noise and select suppliers based on practical, lived experience rather than theoretical checklists.

This point aligns with our own observations at Harrington Starr, where many clients seek more than just recruitment services—they want industry insight, benchmarks, and recommendations based on real outcomes. Just as Knadel offers guidance on supplier suitability, we aim to provide FinTech recruitment strategies that are tailored to long-term business success.

Wealth Management Growth Requires Scalable FinTech Platforms

One of the standout moments of the episode is Robert’s reflection on his keynote session at the Summit for Wealth Management. He highlights that the industry is ripe with growth potential but requires robust, scalable operating models to take full advantage of it. Whether growth is achieved organically or through acquisition, organisations must ensure their platform can support both.

Robert explains that supplier selection plays a vital role in this scalability. Choosing the wrong supplier—or failing to extract the full value from a supplier—can create friction that hampers growth. On the other hand, a well-integrated, collaborative supplier can enhance agility, enable cost efficiencies, and drive innovation.

At Harrington Starr, we see similar themes when helping FinTech firms recruit for roles in software engineering, infrastructure support, and project management. The best hiring strategies, like the best supplier strategies, focus on long-term alignment, scalability, and collaboration.

Supplier Oversight and Risk Management in the FinTech Sector

A central theme in this conversation is the importance of oversight. Robert shares sobering findings from a Knadel Solutions survey that show significant gaps in supplier management. One-third of respondents reported being unable to manage supplier-related risks, many lacked awareness of the full costs associated with their suppliers, and only 15% said they had the tools and data needed to manage supplier relationships effectively.

This lack of visibility creates operational vulnerabilities and regulatory exposure, especially troubling in the wealth and asset management sectors, where oversight and compliance are non-negotiable. Robert introduces Supply Vision, Knadel’s proprietary technology tool, as a solution. The platform gives organisations a single, integrated view of supplier contracts, commercials, issues, and changes. It’s a powerful enabler for boards and executive teams to make informed decisions and maintain control over their supplier ecosystem.

This is particularly important in the FinTech world, where the pace of change is fast and the cost of missteps is high. The rise in regulations like the FCA’s operational resilience rules in the UK, or DORA across the EU, mean that having strong tools and governance structures isn’t optional—it’s essential. For FinTech staffing agencies like ours, this trend has translated into increased demand for governance professionals, vendor risk managers, and supplier relationship specialists.

Consulting and Technology: A Converging Model in FinTech

One of the most insightful parts of the discussion is the exploration of how consultancy and technology services are increasingly converging in FinTech. Robert explains how Knadel Solutions maintains distinct consulting and tech arms, yet the two work symbiotically to deliver better outcomes. The consulting team may recommend tools like Supply Vision, while the technology team gains insights from real-world use cases that feed back into the consultancy side.

This convergence reflects what we’re seeing more broadly across FinTech recruitment. Clients want hybrid skill sets: project managers who understand technology, engineers who can communicate with business stakeholders, and consultants who bring both strategic insight and practical execution skills. The lines between roles are blurring, and firms are rethinking what capabilities they need to build resilient, agile teams.

Robert notes that their consulting team doesn’t follow the traditional "land and expand" model used by larger consultancies. Instead, Knadel’s strength lies in its seasoned consultants—industry veterans with over two decades of experience—who can act as trusted advisors. This level of expertise, rather than headcount or brand name, is what delivers real value to clients.

FinTech in a Volatile World: How Consulting is Evolving

Robert and Toby also reflect on how the consulting world has changed in response to global volatility. Economic uncertainty, regulatory shifts, and relentless technological advancements have forced organisations to re-evaluate their supplier strategies and demand better answers to tough questions.

Robert explains that this new environment puts consulting firms like Knadel in the spotlight. Clients are asking: Are we spending wisely? Are our suppliers enabling scale or creating friction? How can we adapt to a more regulated, cost-conscious world? In response, Knadel provides benchmarking, comparative insight, and proven methodologies that allow firms to answer those questions confidently.

At Harrington Starr, we’ve seen volatility shape hiring decisions as well. Businesses want people who can lead during times of uncertainty. They’re recruiting for change managers, risk professionals, and digital transformation experts who can help them steer through turbulent waters.

Robert’s message is clear: volatility creates pressure—but it also creates opportunity. Firms that ask the right questions and invest in the right partners will not only survive but thrive.

Modernising Asset and Wealth Management Through FinTech Innovation

Robert offers a candid assessment of how wealth and asset management have historically approached technology. For years, the sector lagged behind in innovation. Robert recalls being asked over a decade ago to find exciting buy-side FinTech companies for a “beauty parade”—and struggling to find suitable candidates. That’s no longer the case.

Today, there’s been an explosion in FinTech innovation, with solutions for everything from order management to portfolio analytics to AI-driven client onboarding. But with this explosion comes complexity—and risk. Robert describes the current market as a “barbell,” where firms must balance the strengths of traditional suppliers offering reliable core services with the agility and creativity of new, sometimes unproven, startups.

He advises that embracing FinTech innovation is essential—but must be done with eyes wide open. Firms should evaluate funding models, understand contractual risks, and build robust contingency plans for supplier failure or disruption. Cultural fit, scalability, and resilience should be top priorities.

Achieving Interoperability and Overcoming Procurement Hurdles

Toby and Robert close the episode by discussing a recurring challenge in the FinTech ecosystem: interoperability. Today’s organisations are made up of diverse, often disconnected systems. To build a seamless digital experience, firms need their technologies—and their suppliers—to work together.

This is where supplier strategy becomes especially important. Choosing tools and vendors in isolation risks creating silos or, worse, breakdowns. Firms need advisors who can help them select interoperable systems and build architecture that supports collaboration and innovation.

Procurement also comes under scrutiny. While procurement teams play a vital role in managing cost and risk, they can sometimes slow down innovation by making it difficult for firms to onboard promising new vendors. Robert argues that successful supplier strategies require aligning procurement, risk, operations, and executive stakeholders around a shared understanding of risk tolerance and performance expectations.

Conclusion: The Role of Expertise in FinTech Supplier Success

This episode of FinTech Focus TV is packed with wisdom for anyone involved in supplier management, vendor selection, or digital transformation in financial services. Robert Hupe’s experience and clarity shine throughout the conversation. He offers a compelling argument for why subject matter expertise, long-term partnerships, and robust governance frameworks are essential to the success of any supplier strategy.

At Harrington Starr, we believe the lessons from this conversation apply directly to FinTech recruitment. Whether you're hiring a Chief Technology Officer, building a vendor management team, or onboarding strategic consultants, the goal is the same: find the right partner, with the right fit, and build something that lasts.