Jud Mackrill, the chief marketing officer of Carson Group, an Omaha, Nebraska-based wealth manager with $7.5 billion in assets, is joining the advisory board of LifeYield, a cloud-based software company that recommends tax and risk-conscious actions for investor portfolios.
Mackrill has made a career out of working on technology for the wealth management industry. In 2015, he co-founded Mineral Interactive, a technology and marketing firm for advisors, which was acquired by Carson Group in 2018 as he simultaneously became the company's CMO. He also previously served as CMO at Orion Advisor Services.
Joining the board is a chance to learn from the company and other advisory board members, as well as help LifeYield engage more registered investment advisors, Mackrill told WealthManagement.com.
He added that his position on the board is not a precursor to any future relationship between Carson Group and LifeYield. The two companies do not currently have a relationship and any potential for one would be explored by other executives at Carson, Mackrill said. Removing himself from those conversations allows him to consider LifeYield separate from Carson, he said.
Mackrill is already familiar with LifeYield. Steve Zuschin, executive vice president and head of sales at LifeYield, is a friend and the two have kept in touch for years, he said.
In November 2017, Morgan Stanley Wealth Management integrated LifeYield’s tax optimization software with its digital planning tools, ahead of other brokerages, but LifeYield CEO Mark Hoffman said the company was conversing with “virtually every major firm.” The software company has since added features and partnered with others, including asset manager Russell Investments.
“It’s an honor for me to be able to have this opportunity," Mackrill said. "I’m very excited to help them get into the RIA market.”