FinTech Interview with Timothy Rooney, President at Marygold & Co

FTB News DeskMarch 8, 202312 min

The Fintech space is using technology to democratize financial services. Find out how MaryGold & Co. is thrusting this democratization even further!
Timothy Rooney, President at Marygold & Co

Timothy has spent 30 years building new businesses for large financial corporations, including Exchange-Traded Funds, mutual funds, and retirement plan organizations, and is excited to bring his experience to the next generation of financial innovation at Marygold & Co. His educational background includes a Master’s Degree from NYU’s Stern School of Business and executive education coursework at Harvard and The University of Pennsylvania’s Wharton School.

1. Kindly brief us about yourself and your journey as the President at Marygold & Co.
I am part of the founding team at Marygold. Marigold & Co. was incorporated in 2019, but corporate development began in 2020. I was hired to create, launch and manage the investment company for Marygold, which we call Marygold Advisory Services.

2. Please share with us your source of inspiration for venturing into the Fintech space.
Large corporations in the U.S. are not keeping up with technological innovation, and they are falling behind. The Fintech space is using technology to democratize financial services.

3. Brief us about Marygold & Co. and give us an overview of its standout services.
We’ll start with one: our Money Pools concept. Instead of just having one bank or brokerage account, we encourage our clients to define all the goals they are saving for with individual Money Pools for each savings goal. This way the client always knows how close they are to meeting that individual financial goal.

4. What are the core values on which the company is formed and how is it introducing secure ways to send, receive, spend, save, and invest with no banking fees or minimum balance requirements?
Providing ‘white glove’ service is central to everything we do. If you’re familiar with the concept of the Private Bank operation for wealthy customers in large banks, our goal is to give all of our clients the private banking experience regardless of how much money they have in their Marygold account. We work with cutting-edge companies to provide a secure environment, and we use the latest technology, so we do not need to charge banking fees.

5. Being a thought leader, how do you plan to strategically fulfill Marygold & Co.’s mission and vision?
We have had this vision for many years to provide a high-touch experience in managing the financial lives of clients cost-effectively. We just needed the technology to catch-up to the vision.

6. In your opinion, how beneficial is it to align technological advancements like AI and ML with the finance industry?

Technological advancements will continue because of AI and ML, as with many other industries. The key is to use innovation to improve the client experience and bring down the cost.

7. How has the integration of these technologies transformed the face of the finance industry?
Regarding AI and ML, we have just scratched the surface.

8. Having an extensive experience of 30 years, we would like to know how the finance industry has disrupted traditional financing to a new generation of financial innovation.
The innovation we are starting to see in the fintech space is the most dramatic innovation I have experienced, but the large banks and brokerage firms don’t have the incentive to change their models. Smaller and more nimble firms in the fintech space will continue to be the drivers.

9. What advice would you give budding entrepreneurs and leaders aspiring to venture into the fintech niche?
We are still in the early stages, so just start!

10. How do you envision scaling both–Marygold & Co.’s and your growth curve in the year 2023?
We are in beta testing now and will be launching soon. We don’t worry about scaling, we just focus on giving our clients the best experience possible! Everything else will take care of itself.

FTB News Desk

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