Orion's The Weighing Machine

This week, Rusty and Robyn talk with Julie Abbett, Head of Americas ETF Sales for Equity and Credit at JPMorgan. In this episode, we take a closer look at the growth of the ETF industry. In addition, we will discuss the future of active ETFs, shifts in client demand, fixed income ETFs and much more.

This week, Rusty and Robyn talk with John Kerschner, Head of US Securitized Products and a portfolio manager at Janus Henderson Investors. In this episode, we take a closer look at the Bond Market, in particular the securitized segment of the market, including an area with increasing investor demand - CLOs. We take a look at what CLOs are and why investors and financial advisors should be interested in them.

This week, Rusty and Robyn talk with Paul Curley, Director of Savings Research at ISS Market Intelligence. In this episode, we take a closer look at the most popular attributes of 529 plans and how they are changing. We will also discuss the implications of policy, shifting demographics, the availability of ESG and alternative options and how these elements can affect 529 plans.

This week, Rusty and Robyn talk with Saira Rahman, Vice President of New Investor Initiatives at Fundrise. In this episode, we take a closer look at access to Alternative investments and their rising popularity. In addition, we discuss the impact of changing demographics on investing and much more.

This week, Rusty and Robyn talk with Michael Patchen Co-Founder and CEO at Colleva. In this episode, we take a closer look at how Artificial Intelligence is transforming professional development by creating life-like, interactive coaching experiences. We will discuss how it enhances presentation skills, boosts sales effectiveness and elevates overall performance.

This week, Rusty and Robyn talk with Ryan Issakainen, Senior Vice President, Exchange-Traded Fund Strategist at First Trust Advisors. In this episode, we take a closer look at the ins and outs of Buffered ETFs, the Exchange Traded Fund landscape in general and what interest rate cuts might mean for the markets. In addition, we will discuss investment themes like reshoring, de-globalization and artificial intelligence.

This week, Rusty and Robyn talk with Yuri Khodjamirian, Chief Investment Officer of Tema ETFs. In this episode, we take a closer look at investment themes such as: American reshoring, themes within healthcare, alternative investments and much more. In addition, we will discuss “Moat Investing” - what is it and what are its potential upsides and downsides?

This week, Rusty and Robyn talk with John Hoffman, Ryan Alderman, Jimmy Dooling, Greg King and Chris Hart from Brinker’s Due Diligence team. In this episode, we discuss how to evaluate managers and strategies, how to prepare for a manager due diligence meeting, what can go wrong in a meeting and much more.

This week, Rusty and Robyn talk with Jerry Parker, Chief Executive Officer of Chesapeake Capital. In this episode we will discuss trend following, the famous turtle trader experiment from the 1980’s and what that taught us about systematic investing. In addition, we will take a closer look at ETFs, trend strategies and much more.

This week, Rusty and Robyn talk with Joe Smith, Co-Founder and Chief Investment Officer of Parti Pris. In this episode, we will discuss what is driving demand for Unified Managed Householding and how to access it. In addition, we will discuss lessons from an entrepreneur and how to build a cohesive company culture.

This week, Rusty and Robyn talk with Scott Davis and John Finneran of Capital Group. Scott Davis is Head of ETFs at Capital Group and John Finneran is an ETF Sales Specialist at Capital Group. In this episode, we take a closer look at the most successful Active ETF launch in history. In particular, we will discuss the introduction of Active ETFs by Capital Group, the origin story, questions you should ask of Active ETF managers, what’s ahead for Active ETFs and much more.

This week, Rusty and Robyn talk with Ben Cruikshank, President at Flourish Financial. In this episode, we focus on the importance of cash management, optimizing cash holdings and the market outlook for cash interest rates. In addition, we will take a closer look at the most popular annuity options and which investors should consider them.

This week, Rusty and Robyn talk with Adam Abbas, Head of Fixed Income and Portfolio Manager at Harris Associates. In this episode, we take a deep dive on Fixed Income. In particular, we will take a closer look at how to apply a value philosophy to Fixed Income, how to size Fixed Income positions, how to select securities and much more

This week, Rusty and Robyn talk with David Ricci, a Portfolio Manager at William Blair in Chicago. In this episode, we will discuss the future of growth investing. In particular, we will take a closer look at growth strategies, passive vs. active investing, a market outlook for the remainder of the year and much more.

This week, Rusty and Robyn talk with Eric Crittenden, Founder and Chief Investment Officer at Standpoint Asset Management. In this episode, we will discuss what it really means to take an “all weather approach” to investing. In addition, we will take a closer look at Systematic Investing and rethinking balanced portfolios.

This week, Rusty and Robyn talk with Mike Singleton, Senior Analyst and Principal at Invictus Research. In this episode, we will discuss the outlook for the stock market, inflation, The Federal Reserve and much more.

This week, Rusty and Robyn talk with James St. Aubin, Chief Investment Officer of Sierra Investment Management and Ocean Park Asset Management. In this episode, we will discuss the outlook for the stock and bond markets, risks to be aware of and how to adjust poortfolios in the current environment. In addition, we will take a closer look at AI and the availability of data.

This week, Rusty and Robyn talk with Tyson Walker, Director of Portfolio Strategy at Orion OCIO. In this episode, we take a closer look at the ins and outs of portfolio audits. We will discuss the goals of portfolio audits, how they help advisors evaluate asset allocations and much more!

This week, Rusty and Robyn talk with Kostya Etus, CIO of Dynamic Advisor Solutions. In this episode, we will discuss the building blocks of investment models. In addition, we will take a closer look at Berkshire Hathaway’s shareholder meeting takeaways, the most anticipated summer movies to watch and potential strategies for the upcoming Fantasy Football Season.

This week, Rusty and Robyn talk with Kevin Carter, Founder and Chief Investment Officer of EMQQ Global. In this episode, we will discuss the opportunities and obstacles for Emerging Market Investing. Also, we take a closer look at the future of China & India and thoughts on sizing EM positions.

This week, Rusty and Robyn talk with Gerard O’Reilly, Co-CEO, Co-CIO and Director of Dimensional Fund Advisors. In this episode, we will discuss the active, passive and pure Indexing strategies of a global asset management firm. In addition, we will take a closer look at innovations across the industry, alpha generation and much more. Lastly, we will discuss how AI might impact investment strategies moving forward.

This week, Rusty and Robyn talk with Bill Wostoupal, EVP of OCIO at Orion. In this episode, we take a closer look at various use cases for Custom Indexing. In addition, we will discuss industry trends, the future of Orion and much more.

This week, Rusty and Robyn talk with Jessica Golson, Senior Vice President of Investments and Trading at Carson Wealth Management. In this episode, we take a closer look at the future of the Wealth Management Industry and how we can do a better job of encouraging more women to join it. In particular, we will discuss new strategies and an exciting business partnership platform from The Carson Group. In addition, we will cover what clients expect from advisors and top qualities to look for when recruiting. Learn more at orion.com.

This week, Rusty and Robyn talk with Greg Wilensky and Jeremiah Buckley, head of US Fixed Income and Portfolio Manager at JanusHenderson respectively. In this episode, we take a closer look at the current state of Fixed Income and how to best build out a balanced portfolio. Specifically, we will discuss the future of the 60/40 Portfolio, quality growth equities, the case for Fixed Income, the outlook for interest rates and much more. Learn more at orion.com.

This week, Rusty and Robyn talk with Alex Fink, Retired US Army Major General and former Chief Marketing Officer for the US Army. In this episode, we take a closer look at what it takes to be an effective leader, how to build a successful team and much more. Learn more at orion.com.

This week, Rusty and Robyn talk with Paul Baiocchi, Chief ETF Strategist at SS&C ALPS Advisors in Denver, CO. In this episode, we take a closer look at innovation in the ETF Marketplace and the outlook for active ETFs. In addition, we will discuss the future of Small Caps, International Stocks and much more. Learn more at orion.com.

This week, Rusty and Robyn talk with Harry Hartford, a Portfolio Manager at Causeway Capital Management in Los Angeles, CA. In this episode, we take a closer look at the market outlook for International Stocks, Small Caps and the US Dollar. We take a look at whether or not non-US securities can outperform, relative to the US, when the dollar gets stronger. In addition, we will discuss risk management and more. Learn more at orion.com.

This week, Rusty and Robyn talk with Michael Arone, Chief Investment Strategist and Managing Director at State Street Global Advisors. In this episode, we take a closer look at the likelihood of seeing Stagflation in the economy and consider how investors should prepare for this scenario. In particular, we will look at the ingredients for Stagflation plus a possible liquidity squeeze and three things investors should pay attention to. Learn more at orion.com.

This week, Rusty and Robyn talk with Brian Storey and Andrew Goins of Brinker Capital, Deputy Chief Investment Officer and Senior Portfolio Manager at Brinker Capital respectively. In this episode, we take a closer look at the Destination Strategies from Brinker Capital. In addition we will discuss insights on Portfolio Manager due diligence, key attributes of money managers and much more. We ask if we could finally be seeing a shift away from US, large cap growth dominants to a market environment that favors global, multi-asset portfolios using active management? Learn more at orion.com.

This week, Rusty and Robyn talk with Ricky Schneider, Vice President and Senior Portfolio Manager at Fort Washington Investment Advisors. In this episode, we take a closer look at Securitized Income and Structured Products. We break down these technical terms and explain what you should know about them. We will also discuss various Fixed Income segments, their value proposition and their risk. In addition, we will take a look at how the Securitized Market has changed since 2008, the outlook for the Fixed Income Market, commercial real estate and much more. Learn more at orion.com.

This week, Rusty and Robyn talk with Matt Brown, Founder and CEO at CAIS. In this episode, we take a closer look at Alternative Investments and what is ahead for Alternative strategies. We will also discuss how Alternatives have changed, how technology is transforming the way people invest in them, the biggest opportunities in the space and much more. Learn more at orion.com.

This week, Rusty and Robyn talk with Jason Mertz, Director and Fixed Income Investment Strategist at AllianceBernstein in New York. In this episode, we take a closer look at the Muni Market and Municipal Bonds in particular. We will also learn how to manage volatility in the Muni Market and about the benefits of a custom, separate account. In addition, we will discuss trading alpha, speed alpha, tax alpha and much more.

This week, Rusty Vanneman and Robyn Murray talk with Eduardo Repetto, Chief Investment Officer at Avantis Investors. This week, we will dig into some of the latest trends and developments in the ETF markets, take a look at which ETF strategies are growing fast and discuss how to build long term, resilient portfolios.

This week, Rusty Vanneman talks with Josh Flade, deputy CIO at Orion, head of diversifying asset classes, senior portfolio manager and head of Orion Fixed Income. We look specifically at diversifying asset classes and the value they can add to your portfolio. In addition, we will talk a bit more in depth about Fixed Income and why many investors prefer Fixed Income separate accounts over funds. Lastly, we will discuss alternative investments. Learn more at orion.com.

This week, Rusty Vanneman and Robyn Murray talk with Frank Nickel and Tom LaBarbera from Orion Portfolio Solutions. This week, we take a thorough look at Direct Indexing and what you need to know about it. Specifically, we will discuss customized and model based direct indexing, as well as risk management and much more. Learn more at orion.com.

This week, Rusty Vanneman and Robyn Murray talk with Chris King, founder and CEO of Eaglebrook Advisors. We take a look at the basic argument for digital assets, the future of Bitcoin, Bitcoin SMAs and ETFs, how to allocate to crypto and much more.

This week, Rusty Vanneman and Robyn Murray talk with Fritz Folts, Chief Investment Strategist at 3EDGE Asset Management. We discuss both the bull and bear case for 2024, The Federal Reserve, the presidential election and much more. In addition, we take a look back at the year that was and a look forward at the year to come.

This week, Rusty Vanneman and Robyn Murray talk with Ron Ahluwalia, Mili Rosen and Will Girton, three members from Brinker Capital’s award winning due diligence team. Ron Ahluwalia is Director of Due Diligence at Brinker, Mili Rosen is a Senior Investment Analyst and Will Girton is an Investment Analyst. We will discuss why money manager due diligence is important, what is required for building a “supermarket” of strategies, how to find the best money managers and much more.

This week, Rusty Vanneman and Robyn Murray talk with Jeff Sherman, the Deputy Chief Investment Officer at DoubleLine Capital. We take a look at the Goldilocks economy and how long it may last, as well as: inflation, interest rates, fixed income investing, ETFs, preparing for the presidential election and much more.

This week, Rusty Vanneman and Robyn Murray talk with Ron Temple, Chief Marketing Strategist at Lazard Asset Management. In this episode, we look ahead at inflation, economic growth, international markets and more. In addition, we discuss artificial intelligence, biotech and other trends to watch. Ron will also walk us through some of the pressing questions of the moment, such as: when will small caps outperform again, when will diversified portfolios start to outperform on a risk adjusted basis again and when will bonds generate positive 3 year returns again?

This week, Rusty Vanneman and Robyn Murray talk with Alex Rabinovich, Head of Enterprise Sales at Halo Investing. In this episode, we take a closer look at the Defined Outcome landscape including: structured notes, buffered ETFs, annuities and more. We also take stock of how the 2024 market is going thus far.

This week, Rusty Vanneman and Robyn Murray talk with Phil Toews, Chief Executive Officer of the Toews Corporation and a Portfolio Manager of Toews Asset Management. For our first interview of 2024, we wanted to take this moment to look ahead at what may be in store for 2024. In this episode we will discuss: market outlooks, the odds for a recession, inflation waves, tactical & hedge strategies and how best to use them. We will also learn about a new holiday that the team at Toews helped start.

This week, Rusty Vanneman and Robyn Murray talk with Jeff DeMaso, editor and founder of The Independent Vanguard Adviser. With the year coming to a close, this episode takes a closer look at the market’s historic year, offers a preview on the year to come, covers bond predictions, global investing and much more. Jeff also shares his unique insights on Vanguard, including: what are some unique challenges Vanguard faces, what do they do best, where do they fall short and what were some of the biggest events for Vanguard in 2023? Learn more at orion.com.

This week, Rusty Vanneman and Robyn Murray talk with Kim Arthur, a founding partner of Main Management, LLC. He currently serves as Main’s CEO and Portfolio manager. In 2009 Kim was recognized by Institutional Investor Magazine as a “Rising Star” of Foundations and Endowments. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida in January 2018. Kim has been profiled in articles by Index Universe and referenced in Barron’s, Wall Street Journal, Business Week and Fortune Magazine among others. Kim began his financial career in 1987 when he joined Montgomery Securities in their Institutional Sales division, marketing U.S. equities to Japanese institutions. He was promoted to Managing Director of Institutional Sales in 1997 during the period when Montgomery was purchased by Nations Bank. By 1999 he had advanced to the transitional head of International Sales for Banc of America Securities, following Bank of America’s takeover of Nations Bank. From 2000-2001 Kim was named the head of the Institutional Sales and Trading Department overseeing 60 sales traders in 6 cities. From January 2002 through August 2002 he was appointed the head of Equity Product Marketing. He served on the Investment Policy Committee and the Executive Management Committee at Banc of America Securities from 2000-2002.

This week, Rusty Vanneman and Robyn Murray talk with Caleb Brown, Co-Founder and Partner at New Planner Recruiting. Caleb is a CFP™ certificant, Kolbe CertifiedTM Consultant, and original creator of the FPA Career Day program, which began with the Dallas/ Ft. Worth chapter and subsequently, has been implemented by other FPA chapters across the nation. Throughout Brown's career, he has mentored, hired, managed and coached many career changers and college students seeking internships and full time positions in financial planning, as well as the firm owners who hire them. Brown is a frequent speaker on career development topics pertaining to the hiring and successful integration of new planners into financial planning firms. He has been featured in Investment News, NAPFA Advisor, Financial Planning, Financial Advisor, Virtual Office News, FPA Solutions and the Journal of Financial Planning regarding his efforts to create a career path for up and coming planners. Caleb is a member of the FPA New Professionals Advisory Council and the Chairman of NexGen, an FPA community for new financial planners. He was named the Next Generation Influencer by Financial Planning magazine for 2012. He is a graduate of the Texas Tech Personal Financial Planning Program and spent over five years in an RIA firm in North Texas helping a sole practitioner transition the firm to an ensemble model. Learn more at orion.com.

The case for investing in Texas goes beyond its iconic cowboy culture and vast scenery. It's deeply rooted in the state's business-friendly environment and thriving economic network. Capitalizing on its unique blend of tax advantages and unmatched potential for economic growth, Texas has emerged as an attractive destination for financial investments. Meanwhile, the ETF industry is expected to sustain its upward trajectory, with more assets flowing from mutual funds to ETFs. In this episode, Rusty and Robyn talk with Edward Rosenberg, Managing Director and Head of ETF and Funds Management at Texas Capital Bank. Edward believes that every firm needs to have ETFs in its offerings, whether they realize it or not. Why? ETFs offer trading flexibility, diversification, greater transparency, tax benefits, and lower operating costs than traditional open-end funds. There is so much room for expansion, and the possibilities are endless.  Edward talks to Rusty and Robyn about the case for investing in Texas. He explains how Texas's business-friendly environment and tax benefits can contribute to a company's bottom line. Edward also shares his thoughts on the future of the ETF industry, including the projected growth and the role of direct indexing and model portfolios. Key Takeaways [02:59] - What led Edward to specialize in ETFs? [05:20] - An overview of Texas Capital Bank and its ETF lineup. [07:50] - The case for investing in Texas. [12:21] - Composition of the Texas Capital Texas Equity Index ETF. [14:01] - How ETFs fit into a portfolio. [16:09] - The projected growth of the ETF industry. [19:03] - How direct indexing complements ETF portfolios. [21:58] - How the ETF models can compete against the models from big firms. [24:25] - Edward's thoughts on the ETF industry and its future. [27:14] - How Edward maintains his energy to perform at a high level. [28:28] - Edward's favorite investment idea. [31:06] - The people Edward is thankful for professionally. [33:07] - Edward's recommendations for content. Quotes [09:39] - "The business environment of the Texas estate along with the tax benefits that individuals get can really add to a company's bottom line." ~ Edward Rosenberg [11:17] - "Texas has more companies publicly traded or listed on the exchanges than any other state. This shows a diverse economy growing much faster than the entire U.S. economy and in most states across the board." ~ Edward Rosenberg [23:09] - "If everybody's the same and you're an advisor, how can you differentiate yourself? You have to look at the newer products or active ETFs. You have to be different to really add value to what you're doing." ~ Edward Rosenberg Links  Edward Rosenberg on LinkedIn Texas Capital Bank The Black Crowes Aerosmith Vanguard Northern Trust American Century Investments Rob Holmes Morningstar Merrill Lynch Morgan Stanley LPL Financial BlackRock iShares Charles Schwab Shundrawn Thomas ETF.com NYSE Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3364-OPS-12/27/2023

The music industry is a powerful force, shaping culture and influencing society across the globe. As the industry experiences a golden age, driven by increased streaming subscriptions, the resurgence of live music, and the advent of digital technology, those with a keen eye for innovation recognize that investing in the music industry is not just about the present but also a journey into the future of exciting possibilities. In this episode, Rusty and Robyn talk with David Schulhof, Founder and CEO of MUSQ. David is an American music industry executive and investor with 30 years of experience in the field. David’s background in the music industry is extensive, having previously served as the president of music publishing at LiveOne, a global media company for live streaming and on-demand audio, video, and podcast content. He is also the former president of music at AGC Studios and IM Global Studios and was the co-founder and CEO of Evergreen Copyrights, where he pursued a global acquisition strategy of music publishing catalogs. Having worked with top artists and Grammy winners and founded multiple music companies, David talks to Rusty and Robyn about the growing music industry and the investment opportunities it presents. He explores the different segments of the industry, including streaming, content, live music, technology, and radio. David also highlights the rapid growth of the music industry, particularly in streaming and live music, and the potential for further expansion in emerging markets.  Key Takeaways [03:24] - David's career in the music industry. [04:37] - The reason behind the creation of the MUSQ ETF. [05:42] - How to get into MUSQ ETF. [06:46] - Investment case for the music industry. [11:35] - The expected growth in the music industry across different segments. [15:44] - Global growth in the music industry. [17:11] - The biggest players in streaming services. [18:36] - Other companies investors should be paying attention to. [19:52] - Valuations of music companies compared to other media companies. [20:41] - The potential benefits and risks of AI in the music industry. [23:33] - David's recommendations for new music. [26:28] - How David maintains his energy and ability to perform at his best. [28:11] - The people David is grateful for professionally. [29:02] - David's recommendations for content. Quotes [06:54] - "Music today is the most overlooked, underhyped, and under-monetized media asset. And music today is the best content story in the history of media." ~ David Schulhof [09:02] - "The music industry's really going through a golden age. It's growing and outperforming the GDP by four times." ~ David Schulhof [13:53] - "In terms of music, AI is really disruptive right now. It is revolutionizing creativity and productivity for artists and songwriters." ~ David Schulhof Links  David Schulhof on LinkedIn David Schulhof on Twitter MUSQ ETF Rock The Bells by LL COOL J Made You Look by Nas Bust A Move by Young MC Interscope Records Universal Music Robert Rodriguez Kevin Smith KKR Apollo Global Management Providence Equity Goldman Sachs Taylor Swift Beyoncé Harry Styles Ed Sheeran Sony Music JYP Entertainment SM Entertainment Yamaha Corporation  Sonos Roland Spotify Apple Music Amazon Music Google Play Music LiveOne NexTone Inc. Live Nation Entertainment SoundCloud Zach Bryan Chris Stapleton Morgan Wallen Bruce Springsteen Music Money and Success by Todd and Jeff Brabec Music Business Worldwide All You Need To Know About the Music Business by Donald Passman Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3313-OPS-12/15/2023

Value investing has proven to be a successful strategy over the long term. While growth stocks have dominated the market, factors such as economic recovery, higher interest rates, inflation, and geopolitical risks could contribute to a sustained period of outperformance for value investing. By strategically investing in undervalued assets with strong upside potential, investors can navigate the complexities of the market, achieving superior returns over the long run. In this episode, Rusty and Robyn talk with Rand Wrighton, Managing Director and Senior Portfolio Manager at Barrow Hanley Global Investors. Rand began his investment career at Barrow Hanley as a research analyst covering the Industrials, Energy, and Technology sectors. In 2006, he joined an internal group at Barrow Hanley to lead the firm's expansion into non-U.S., Global, and Emerging Market investment products. In his current role, Rand manages portfolios for the Barrow Hanley Emerging Markets and Non-U.S. Value strategies. A value investor who focuses on finding undervalued stocks with strong fundamentals and good balance sheets, Rand talks about the current state and best market conditions for value investing. He also shares his insights on the current economic outlook and the impact of geopolitical risks. He touches on the U.S. dollar, the energy sector, recession, and inflation risk and offers advice on how to invest successfully in value.  Key Takeaways [03:43] - Rand's professional background and how his experience shaped him to where he is today. [06:02] - What sets Barrow Hanley apart from other firms? [07:01] - How Barrow Hanley defines value investing. [07:59] - The best market conditions for value investing. [11:49] - How Barrow Hanley adapts its value investing strategy to changing market conditions. [13:32] - Rand's outlook on recession and inflation risks. [17:11] - How geopolitical risks impact Rand's decision-making. [21:49] - How Rand positions his portfolio in the energy sector. [24:35] - The impact of the U.S. dollar on Rand's portfolio positioning. [26:38] - Rand's advice on how to be successful in value investing. [29:04] - The people who have influenced Rand in value investing. [30:20] - Rand's criteria for diversification within portfolios. [32:21] - How Rand maintains his physical and mental energy to perform at his best.  [33:20] - The people Rand learned life lessons from. [34:59] - Rand's recommendations for content. Quotes [09:30] - "Recessions are where you reallocate human and physical capital from areas that have been good places to be to areas that will be the next good places to be." ~ Rand Wrighton [26:57] - "You need to think about investments in a way that makes sense to you and is tailored to your knowledge set, and that is something you can stick with." ~ Rand Wrighton [30:07] - "Sticking to your discipline is really one of the secrets to success in our business." ~ Rand Wrighton Links  Rand Wrighton on LinkedIn Barrow Hanley Moneytalks by AC/DC Deutsche Bank The Intelligent Investor  Emerson Electric Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3303-OPS-12/13/2023

Current economic conditions, marked by fluctuating interest rates and potential recessions, have sparked many investors to re-evaluate their investment strategies. By diligently monitoring trends and strategically adjusting asset allocations, investors can position themselves to not only weather the challenges but also capitalize on opportunities that arise from the ups and downs of the interest rate market. In this episode, Rusty and Robyn talk with Andy Smock, Chief Investment Officer and Managing Principal at Merganser Capital Management. Andy joined Merganser in 2003. Earlier in his career, he focused on researching and trading both residential and commercial mortgage-backed securities. In his current role, Andy oversees the company's investment team and is a portfolio manager for their longer-duration strategies.  With extensive experience in the fixed-income market, Andy talks to Rusty and Robyn about fixed income and fluctuations in the interest rate market. He discusses the reasons behind the large swings in interest rates and the trends within fixed income, including shifting demands from investors. Andy also shares his macro perspective on inflation and the potential for a recession and provides insights on the status of regional banks and the commercial real estate market. Key Takeaways [02:32] - Andy's background and work at Merganser Capital Management. [03:27] - The reasons behind the large swings in interest rates. [05:22] - Strategic allocation shifts in response to interest rate movement. [06:54] - Notable trends in fixed income. [08:20] - What Andy sees as demands from investors. [09:57] - Andy's view on inflation. [12:05] - The possibility of a recession. [14:12] - The reasons for a bank crisis. [15:38] - The challenges facing commercial real estate. [18:46] - How Andy maintains his mental and physical energy to perform at a high level. [20:36] - The people Andy is professionally thankful for. [23:16] - Andy's recommendations for content. Quotes [05:02] - "The drivers [large swing of interest rates] have been all over the place. You can really point to economic data on certain days or geopolitical." ~ Andy Smock [10:04] - "Inflation is definitely coming down. Every way I look at the data, it's clearly dropping from really disturbingly high levels." ~ Andy Smock [11:35] - "Inflation is coming down. And for it to meaningfully come down and quickly come down to target, we're going to need to see weakness in the consumer much more than we have." ~ Andy Smock Links  Andy Smock on LinkedIn Merganser Capital Management Close to Me by The Cure Indiana University From Strength to Strength by Arthur Brooks A Bird's-Eye View of the Bond Market Podcast Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3225-OPS-12/1/2023

Building strategic partnerships with attorneys and accountants can be a game-changer for financial advisors with the power to redefine the trajectory of an advisor's career. By unlocking the code of how to build a strategic partnership with these professionals, financial advisors can have a consistent flow of high-net-worth referrals. In this episode, Rusty and Robyn talk with Brett Van Bortel, Director of Consulting Services at Invesco Consulting. Brett has been with Invesco since 2010 and specializes in helping financial professionals be more profitable, effective, and productive. He has developed and delivered numerous consulting programs designed to increase the profitability, effectiveness, and productivity of financial professionals. As a speaker and consultant, Brett focuses on helping financial professionals build strategic partnerships with attorneys and CPAs to create a pipeline of high-net-worth referrals. Brett joins Rusty and Robyn to discuss how financial advisors can build strategic partnerships that grow their businesses. He dives into the importance of creating pipelines of high-net-worth referrals from attorneys and accountants and how to build successful client relationships. Brett also shares the challenges and solutions in building these partnerships and the five criteria for evaluating potential strategic partnerships. Key Takeaways [03:25] - Brett's career background. [04:10] - What separates Invesco apart from other firms? [04:52] - Why “The Referral Code” resonates with financial advisors. [06:05] - The question financial advisors need to ask when starting a business. [06:52] - How financial professionals create successful strategic partnerships. [13:48] - The challenges and solutions in building strategic partnerships. [16:28] - The five criteria for evaluating potential strategic partnerships. [20:30] - The meaning of 'next' in Brett's “The Referral Code” presentation. [22:08] - An overview of Invesco's Practice Innovation Index. [24:09] - What Invesco's Total CX is all about. [25:05] - How AI impacts the financial markets. [26:38] - The people Brett is thankful for professionally. [28:05] - Brett's recommendations for content. Quotes [07:54] - "One good COI (center of influence) doesn't make your year. It makes your career." - Brett Van Bortel [11:02] - "You don't have to network with a huge number of people to be successful." ~ Brett Van Bortel [26:14] - "The ability of the advisor to demonstrate that level of care really can't be matched by AI as we know it today." - Brett Van Bortel Links  Brett Van Bortel on LinkedIn Invesco I Won’t Back Down by Tom Petty The Referral Code presentation The Referral Code file Practice Innovation Index Paul Brunswick Paper Money Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3177-OPS-11/27/2023

With some of the best, most innovative, and well-run businesses located beyond U.S. borders, limiting one's investments to the domestic market may inadvertently limit their portfolio's potential growth. While the world's economic activity is dynamic and diverse, smart investors are now exploring opportunities in previously seen as distant and foreign markets. In this episode, Rusty and Robyn talk with Daniel Fields and Todd Morris, portfolio managers and analysts at Polen Capital Management. Before joining Polen Capital, Daniel spent eight years in Hong Kong, working for Gavekal Capital and Marshall Wace LLP as a research analyst evaluating Asian growth companies. Todd worked in research and marketing roles with Prudential Insurance and Millennium Global Asset Management, respectively, and served in the U.S. Navy for seven years.  Managing Polen Capital's international growth strategy, Daniel and Todd discuss with Rusty and Robyn the case for high-quality and international investing. They emphasize the importance of investing outside the United States. They also highlight the potential for international outperformance in the future, as well as the attractive valuations currently available in international markets. Key Takeaways [03:21] - Daniel and Todd's personal and professional backgrounds. [04:35] - An overview of Polen Capital's culture and what makes it unique. [05:45] - What compounders are and why they are important for investing. [08:00] - Why Polen Capital invests in concentrated portfolios. [08:48] - What Polen Capital's article, “Hidden in Plain Sight” is all about. [10:59] - How Polen Capital specifically defines high-quality companies. [13:11] - Potential catalysts for the dollar to weaken. [15:24] - Key takeaways from Polen Capital's “Opportunity Beyond Borders” article. [17:21] - Recommended allocation for non-U.S. securities. [19:34] - Daniel and Todd's take on how AI impacts the markets and financial advice. [21:19] - How Daniel and Todd maintain their physical and mental energy to perform at their best. [22:32] - The people Daniel and Todd are thankful for professionally. [24:47] - Daniel and Todd's recommendations for content. Quotes [08:33] - "We feel that concentration specifically among high-quality, profitable businesses offers the best odds of success over the long run. And so that is very central to how we think and operate as investors." ~ Todd Morris [09:02] - "If you're not investing outside the United States, you're missing out on a whole lot of really good companies. Some of the best, most innovative, and well-run businesses are located outside the United States." ~ Daniel Fields [15:42] - "More than 75% of global activity is happening outside the United States. And while a US-centric or a US-biased allocation has been sensible and has worked well for the last 15 years, that may not always be the case. We should all remember that much of the world's economic activity is happening outside our borders." ~ Todd Morris Links  Daniel Fields on LinkedIn Todd Morris on LinkedIn Polen Capital Neighborhood #1 by Arcade Fire Thunderstruck by AC/DC Aon Fisher Investments Gavekal Capital Hidden in Plain Sight Opportunity Beyond Borders John Wooden James Stockdale Louis-Vincent Gave Alfred Ho The New Map The Economist Admiral Chester Nimitz The World For Sale Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3129-OPS-11/17/2023

Historically, investors have predominantly relied on traditional assets such as stocks and bonds to build portfolios. These classic investments have undoubtedly proven their worth over time. However, the modern era has ushered in new opportunities that challenge the status quo. Liquid alternatives, also known as alternative investments, are at the forefront of this revolution.  In this episode, Rusty and Robyn talk with Michael Green, Portfolio Manager and Chief Strategist at Simplify Asset Management. Michael has been a student of markets and market structure for nearly 30 years. His proprietary research into the shift from actively managed portfolios and investment funds to systematic passive investment strategies has been presented to the Federal Reserve, the BIS, the IMF, and numerous other industry groups and associations. Michael joined Simplify in April 2021 after serving as Chief Strategist and Portfolio Manager for Logica Capital Advisers. Known for his expertise in alternative investments, Mike talks to Rusty and Robyn about the rise of liquid alternatives, such as ETFs and managed futures, and their benefits to investors. He emphasizes the need for diversification and the opportunity to do something different in a market dominated by passive equity and bond exposure. Mike also shares insights on the role of commodities in portfolios.  Key Takeaways [02:18] - Mike's background and how he got to his current position. [03:38] - How Simplify differs from other investment firms. [05:02] - Why investors should consider investing in alternatives. [06:33] - Mike's thoughts on liquid alternatives such as ETFs. [08:13] - Challenges and reasons for the limited number of ETFs in the alternative space. [09:49] - Examples of alternative strategies that work well in an ETF format. [11:27] - The pros and cons of managed futures as a strategy. [14:38] - Mike's view of commodities from a strategic standpoint. [21:03] - The recommended strategic weight for alternatives in portfolios. [23:08] - The concept of crowding out in passive investing.  [29:23] - The catalysts for a shift in portfolio construction. [32:34] - Mike's take on the credit markets. [37:18] - Mike's thoughts on how AI impacts the markets and financial advice. [39:27] - How Mike maintains his physical and mental energy to perform at a high level. [42:12] - The people Mike is thankful for professionally. [43:44] - Mike's recommendations for content. Quotes [05:26] - "The opportunity to do something different is actually a chance to get in front of the crowd in terms of changing the allocation." ~ Michael Green [11:54] - "The real core behind managed futures is simply to reinforce momentum trends and the strength of those trends. It's a strategy that does really well in periods of uncertainty, moving to the resolution of that uncertainty." ~ Michael Green [15:13] - "Commodities are something that we require on a go-forward basis. It's one of the better vehicles for protecting yourself against potential inflationary outcomes. It's also one of the more powerful tools for effectively isolating very significant changes in either supply or demand characteristics in the global economy." ~ Michael Green Links  Michael Green on LinkedIn Michael Green on Twitter Michael Green's Substack Simplify Asset Management Highway to Hell by AC/DC Logica Funds Canyon Partners Facts and Fantasies about Commodity Futures Grant Williams Mitchell Julis Matt Stoller BIG by Matt Stoller Honestly Podcast Hidden Forces Podcast Danielle DiMartino Booth Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3072-OPS-11/10/2023

Growth investing has long been a favored strategy for investors seeking to capitalize on the potential of high-growth companies. It's a path often chosen by those who firmly believe in the power of innovation, the potential of disruptive technologies, and the dynamic nature of markets in constant flux. While growth investing is not without risks, it promises the thrill of discovering the next big thing. In this episode, Rusty and Robyn talk with Tom Galvin, Lead Portfolio Manager at Columbia Management. Tom has led the strategy since he joined one of the Columbia Threadneedle Investments legacy firms in 2003. With over 20 years of experience as a leading equity strategist and securities analyst, Tom has been named to Institutional Investor's All-America Research Team and The Wall Street Journal’s All-Star Analyst Team. Known for his expertise in highly concentrated growth investing and deep understanding of the technology and consumer sectors, Tom talks about growth investing, diversification, and the future of active management. He also shares his thoughts on the current market conditions, the impact of higher interest rates on growth companies, and his outlook for the “magnificent seven” stocks. Key Takeaways [02:46] - Tom's background and experience at Columbia Threadneedle Investments. [05:36] - How Tom manages his team through the changes in the industry. [06:41] - Three ways investors can implement the growth strategy. [11:09] - Using correlations to reduce risk and increase diversification. [14:56] - Money managers who are great at growth investing. [16:45] - How active managers using fundamental analysis perform. [18:19] - The connection between the markets and the economy. [23:00] - How higher rates impact growth investing. [25:40] - Tom's outlook for the “magnificent seven” companies. [30:10] - Analysis of Apple's growth potential. [32:23] - The impact of AI on markets and financial advice. [35:46] - Tom's perspective on Schwab's performance this year. [37:38] - Mentors and colleagues Tom is professionally thankful for. [40:47] - How Tom maintains his physical and mental energy to perform at a high level. [41:58] - Tom's recommendations for content. Quotes [07:01] - "Our growth strategy is not 'the' solution, but we're part of a solution." ~ Tom Galvin [16:13] - "As analysts or portfolio managers, we are like detectives. Any detective story you have ever seen on TV usually follows the money trail. That's exactly what we're trying to accomplish." ~ Tom Galvin [18:45] - "The market tends to lead the economy because it's less interested in what happened last year and more interested in what might happen in the future." ~ Tom Galvin Links  Tom Galvin on LinkedIn Columbia Threadneedle Investments Columbia Threadneedle Investments on LinkedIn The Rising by Bruce Springsteen Charles Schwab Bank of America Who Moved My Cheese Peter Lynch Fidelity Investments Fidelity Magellan Fund Adobe Palo Alto Networks CrowdStrike Intuit McCormick & Company Greenwich Historical Society Clark Art Institute Against the Rules with Michael Lewis The Rewatchables Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 3052-OPS-11/8/2023

For many, faith provides a moral compass, guiding decisions and actions in both personal and professional matters. This compass extends its influence into the world of investing, giving rise to faith-based investing. This approach allows individuals to merge their faith with their financial portfolio, fostering a harmonious coexistence of monetary growth and ethical principles. In this episode, Rusty and Robyn talk with Bob Doll, Chief Investment Officer at Crossmark Global Investments. With over 40 years of experience in the investment management business, Bob has a deep understanding of managing large-cap U.S. equities. He is known for his expertise in faith-based investing and helping clients align their investments with their values. He also utilizes his investment expertise to provide weekly and quarterly investment commentaries and annual market predictions. Bob is a regular guest and contributor to multiple outlets such as Bloomberg TV, Fox Business News, CNBC, and Faith & Finance Live Radio. A legend in the financial services industry, Bob talks about faith-based investing, market predictions, and the current market outlook. Bob shares his insights on the impact of values in investing and how investors can align their investments with their personal beliefs. He also provides his outlook for the economy and the market, including his predictions for inflation, the Fed, and interest rates. Key Takeaways [02:33] - Bob's background and experience in investment management. [03:24] - What Crossmark Global Investments is all about. [04:54] - Aligning faith with financial decisions. [06:26] - The long-term viability of value-based investing. [07:21] - How people can learn more about faith-based investing. [08:17] - How Bob's top 10 predictions for 2023 turned out. [10:12] - Bob's thought process for creating the top 10 predictions.  [11:35] - Bob's current economic and market outlook. [13:13] - Possible projections for inflation and interest rates. [14:58] - Outlook on the “magnificent seven” companies. [18:34] - Portfolio allocation between high-yield bonds and fixed income. [22:11] - The impact of geopolitics on investment. [25:15] - How Bob maintains his physical and mental energy to perform at his best. [26:54] - How AI can impact the markets and financial advice. [28:11] - The people Bob is thankful for professionally. [29:56] - Bob's recommendations for content. Quotes [04:24] - "People spend a lot of time making sure that how they spend money lines up with who they are. But in between the investment piece, 'Oh, I'll leave that to somebody else.' And they end up owning investments they may not know a whole lot about." ~ Bob Doll [05:13] - "We do our best job to suggest what good values might be in terms of the companies we exclude and the companies we give. My faith as a Christian is there's a standard. It's called God's word, the Bible. We use that as our best attempt to figure out what should be included and what should get excluded." ~ Bob Doll [05:35] - "We sit down with our clients and say, 'What are your values? Let's define them. Get them on a piece of paper so we can try to manage money to fit those values.'" ~ Bob Doll Links  Bob Doll on LinkedIn Crossmark Global Investments The Sound of Music  The Economist Bernstein Private Wealth Management Bob Doll's Deliberations Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2951-OPS-10/27/2023

The impact of fintech on financial advisory practices has been nothing short of transformative. The collaboration between fintech innovators and financial advisors not only drives innovation but significantly enhances the overall client experience, revolutionizing the way financial services are delivered and received. However, it is not merely about adopting technology. It's about being purposeful in adopting new technology and seeking solutions that align with the specific needs of their business. In this episode, Rusty and Robyn talk with Ryan Donovan, Senior VP of Institutional Sales, and George Svagera, Senior VP of Business Development for Enterprise at Orion. In his role, Ryan works to show registered investment advisors how Orion's technology and integrations can help them grow and improve efficiency. On the other hand, George oversees Orion's enterprise sales. He works with mainly broker-dealers, banks, and custodians in leveraging both the tech and wealth management sides. George and Ryan talk to Rusty and Robyn about disruptive trends, top tech features, and how advisors can leverage fintech to stay ahead of the curve. They highlight the impact of fintech on financial service providers and the importance of integration and seamless workflows for advisors. George and Ryan also discuss how emerging technologies change how advisors operate and deliver value. Key Takeaways [04:25] - George and Ryan's professional backgrounds and roles at Orion. [06:45] - What led to the creation of Ryan and George's podcast, The Fuse Show. [08:24] - FinTech trends impacting the financial advisory space today. [12:46] - How technology is changing the way advisors operate and deliver value. [23:06] - Features and capabilities advisors value the most. [27:59] - How advisors can leverage fintech to stay ahead of the curve and meet client expectations. [32:46] - Ryan and George's advice to financial advisors looking to leverage the fintech landscape. [34:49] - Ryan and George's favorite investment idea. [35:24] - How Ryan and George maintain their physical and mental health to perform at their peak. [37:15] - The people Ryan and George are thankful for professionally. [39:39] - Ryan and George's recommendations for content. [41:13] - Upcoming episodes of The Fuse Show that Ryan and George are excited about. Quotes [08:40] - "When you look at advisors, regardless of your affiliation with a broker-dealer or whether you're independent, you're an RIA, or you're with a wirehouse, ultimately, what you want is to minimize the friction of interacting with your clients so that you could serve them best." ~ Ryan Donovan [21:51] - "One of the biggest game changers that will impact advisors, but something that their firms don't necessarily have to do, is real-time data streaming more than anything else." ~ George Svagera [28:13] - "As a technology company, we leverage a lot of technology to run our business. You have to be purposeful in it. You have to set aside time to learn what it does to train yourself on it to understand what it does and how it can help run your day or make you more efficient." ~ George Svagera Links  Ryan Donovan on LinkedIn Ryan Donovan on Twitter George Svagera on LinkedIn George Svagera on Twitter Head Like A Hole by Nine Inch Nails X Gon' Give It To Ya by DMX The Fuse Show  Redtail Technology Dr. Daniel Crosby Orion BeFi20 The Risk Tolerance Questionnaire Future Proof Eric Clarke Todd Powell Yellowstone The Autobiography of Benjamin Franklin Only Murders in the Building Band of Brothers Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2905-OPS-10/23/2023

The future of ETF model portfolios and factor investing appears promising. With the continued growth of the ETF industry and the increasing demand for diversified and risk-adjusted investment solutions, ETF model portfolios are likely to gain further traction. As investors navigate the challenges of a deglobalized world environment, the principles of factor investing and quality investing will continue to play a crucial role in achieving long-term financial goals. In this episode, Rusty and Robyn talk with John Davi, Founder, CEO, and CIO at Astoria Portfolio Advisors. John is an award-winning research strategist with over 20 years of experience across macro ETF strategy, quantitative research, and portfolio construction. Before starting Astoria, he was the head of Morgan Stanley's Institutional ETF Content and advised many of the world's largest hedge funds and asset managers on ETF portfolio construction. John published hundreds of reports in his research career across various topics, from ETFs, indices, and futures to structured products.  John talks to Rusty and Robyn about ETF model portfolios and factor investing. He emphasizes the importance of active management, diversification, and quality investing in the current market environment. Key Takeaways [03:14] - What inspired John to get into investment management. [04:29] - An overview of Astoria Portfolio Advisors and its services. [05:53] - John's journey in developing ETF Model Portfolios. [07:36] - What sets Astoria's ETF Model Portfolio apart from others? [09:09] - How boutique ETF strategists can compete against major ETF providers. [10:32] - The future growth of the ETF industry and ETF models. [11:39] - How factor investing works. [16:02] - Why quality is Astoria's true north. [17:40] - How real estate investing is similar to factor investing. [18:51] - John's view on the macroeconomic landscape. [20:34] - Investing in a deglobalized world. [23:03] - John's outlook for the next three quarters. [25:25] - Recommended strategic weight for non-U.S. equities. [26:50] - John's view of artificial intelligence in investment management. [28:05] - John's favorite investment idea. [29:26] - How John maintains his physical and mental energy to perform at his best. [30:51] - The people John is thankful for professionally. [31:58] - John's recommendations for content. Quotes [09:55] - "Diversifying our factors and using liquid alts can help you get higher up in the efficient frontier." ~ John Davi [15:21] - "It's very attractive to just own beta. But when you own a few factors, you get a smoother return." ~ John Davi [16:26] - "Quality is the most consistent of the factors. It's basically like buying good companies with good balance sheets. They pay dividends, they don't take on a lot of debt, and the consistency of their earnings and their earnings beats." ~ John Davi Links  John Davi on LinkedIn John Davi on Twitter Astoria Portfolio Advisors No Sleep Till Brooklyn by the Beastie Boys Merrill Lynch Vanguard Larry Swedroe Portfolio Visualizer Orangetheory The White Lotus Deep Work by Cal Newport Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2851-OPS-10/16/2023

As investors increasingly seek to optimize their portfolios and adapt to changing market conditions, exchange-traded funds (ETFs) have emerged as an effective and rapidly evolving investment vehicle. While ETFs have proven superior to traditional mutual funds, they have also ushered in a new era of opportunities and challenges for investors, financial advisors, and the industry. In this episode, Rusty and Robyn talk with Mike Akins, Founding Partner at ETF Action. Mike has over 20 years of financial industry experience spanning multiple disciplines. Before founding ETF Action, Mike served as SVP and Head of ETFs at ALPS Advisors, overseeing all aspects of the $15 billion ALPS ETF Trust. Throughout his career, Mike has held various management positions in product development, research and data analytics, risk management, compliance, audit, and operations.  Mike talks to Rusty and Robyn about how to navigate the ETF marketplace, covering topics such as the growth and future of the ETF industry, the historical and projected growth of ETFs, the rise of ETF model portfolios, and the challenges and opportunities facing the industry. Key Takeaways [03:53] - Mike's career journey from compliance to ETFs. [05:01] - The historical and projected growth of the ETF industry. [07:12] - Competitive threats to ETFs. [10:18] - Potential benefits and limitations of direct indexing. [12:13] - Possible risks that may hinder the growth of ETFs in the future. [13:36] - The percentage of advisors choosing ETFs themselves vs. outsourcing to ETF models. [15:41] - How ETF Action supports advisors in adopting ETF models. [17:41] - The growth prospects of models in the coming years. [18:37] - How other models compete against giant industries. [21:21] - Delivering ETFs that align with investors' criteria. [23:15] - Opportunities and challenges for the future of the ETF market. [25:46] - Mike's concerns about liquidity and market complacency. [26:58] - The impact of artificial intelligence on the ETF industry. [28:16] - Mike's favorite investment idea. [29:25] - How Mike maintains his physical and mental energy to perform at his best. [30:31] - The people for whom Mike is grateful, both personally and professionally. [32:23] - Mike's recommendations for content. Quotes [05:35] - "The ETF is a superior structure to mutual funds. Therefore, as people have the opportunity to transfer assets, whether it's required minimum distributions from their qualified accounts or there's a reason to sell their mutual fund and realize those gains, it naturally flows into the ETF market." ~ Mike Akins [18:07] - "If you're an advisor or if you're an independent network of advisors, having models not only will lead to better outcomes, which is the ultimate game, but it also is going to lead to more efficiencies and time saved, and it's going to allow advisors to continue to scale their business." ~ Mike Akins [21:30] - "What attracts me to the ETF market is the ability to map almost any liquid investment in the world. You have every corner of the market covered by an ETF, and with a push of a button, I can track in real-time what's going on with that market through the ETF." ~ Mike Akins Links  Mike Akins on LinkedIn Mike Akins on Twitter ETF Action It's in the Way That You Use It by Eric Clapton State Street Vanguard iShares BlackRock Global X ETFs Tom Carter Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2774-OPS-10/6/2023

High-net-worth individuals often have many objectives, ranging from wealth preservation and growth to estate planning and philanthropy. Each objective has its own intricacies, requiring careful consideration and customization to meet each client's unique needs.  In this episode, Rusty and Robyn talk with Vern Montross, Western Division Managing Director at City National Rochdale. In his role, Vern is responsible for cultivating and developing relationships with financial professionals, including financial advisors, CPAs and attorneys, and their high-net-worth clients in Texas. He works in concert with these professional advisors and City National Rochdale portfolio managers to develop long-term, risk-managed investment strategies. Working in close partnership with each client's trusted advisor to develop an insightful personal benchmark, Vern talks about the complexity of managing high-net-worth portfolios, what it takes to serve high-net-worth clients, and what intelligent personalization is all about.  Key Takeaways [03:30] - How Vern transitioned from biology to finance. [05:13] - The role of CNR in the investment management industry. [07:51] - What makes CNR different from other investment firms that manage high-net-worth investors? [11:15] - What it is like to work with CNR's portfolio managers and investment consultants. [12:54] - How CNR works with high-net-worth investors. [16:22] - What intelligent personalization means. [19:08] - Vern's outlook for the stock market, inflation, interest rates, and the bond market. [24:37] - How CNR applies its market outlook to client portfolios. [27:59] - Vern's thoughts on artificial intelligence's impact on investing. [31:07] - One of Vern's favorite investment ideas. [33:35] - How Vern maintains his physical and mental energy to perform at a high level. [34:54] - The people Vern is thankful for professionally. [37:18] - Vern's recommendations for content. Quotes [06:04] - "We're a collection of problem solvers, very much like scientists and engineers. We want to study what a potential solution looks like, stress test it, and make sure it works and is appropriate." ~ Vern Montross [06:31] - "We don't pre-manufacture our solutions. We don't have inventory on the shelf, and we don't pre-manufacture products. We work with every single client based on their unique situation." ~ Vern Montross [16:50] - "Just because something is different or specific doesn't mean it's also optimal. So, I think of intelligent personalization as customization with intelligent awareness." ~ Vern Montross Links  Vern Montross on LinkedIn City National Rochdale Mr. Brightside by the Killers The Fabric of Reality Fly on the Wall with Dana Carvey and David Spade Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1592-OPS-6/12/2023

Democracy as an investment theme is not solely driven by ideology. It's grounded in data and a deep understanding of global dynamics. By understanding the relationship between geopolitics and investment, individuals can make more informed decisions about where to allocate their capital, aligning their investments with their values and convictions. In this episode, Rusty and Robyn talk with Julie Cane, Co-Founder, Managing Partner, and CEO of Democracy Investments. Julie began her career as a U.S. naval aviator flying the SH-3 Sea King helicopter. In 2002, Julie developed Wells Fargo Private Bank's first high net worth and segmentation strategies, resulting in over a 100% increase in the division's profits for the next three years. Julie's background in financial services includes developing market-leading innovations at Wells Fargo, Charles Schwab Advisor Services, SEI Investments, and Autodesk Ventures. Having served in a capacity that allowed a unique vantage point into the world's political landscape, Julie talks to Rusty and Robyn about democracy and how it is good for investors. She highlights how global democracies impact the markets and why it makes sense to invest in freedom. Julie also provides an interesting and useful perspective on international investing, shedding light on the benefits of transparency, stability, and a commitment to freedom. Key Takeaways [02:47] - Julie's background and professional career. [03:54] - The inspiration behind Democracy Investments' foundation. [05:53] - What sets Democracy Investments' international ETF apart from other international funds. [07:15] - Why the economies and markets of democratic economies are better than the authoritarian ones. [08:24] - Julie's thoughts on the decline of democracy over the last 16 years. [09:36] - How Democracy Investments uses The Economist's democracy index to measure democracy. [10:23] - The countries with the best and worst performance in terms of democracy. [12:42] - The countries whose portfolio weights have gained and lost the most. [13:51] - Julie's perspective on the shifting structure of the global economy. [15:59] - Julie's take on the congressional probe into MSCI and BlackRock. [19:19] - Julie's view on the impact of artificial intelligence on the industry. [20:10] - The investment idea Julie likes the most. [21:05] - How Julie maintains her physical and mental energy to perform at her best. [23:21] - The people Julie is thankful for professionally. [26:22] - Julie's recommendations for content. Quotes [04:00] - "Our company was born out of concern for democracy. With my time serving, I became aware, at a young age, of trends in democracy. After I got out, I stayed in touch with my friends who are still serving, and they opened my eyes to everything going on in the world." ~ Julie Cane [06:08] - "We want to provide investors with an alternative for international exposure that accounts for geopolitical risk. We achieve that by starting the same basket on stocks in an all-world ex-U.S. index." ~ Julie Cane [08:02] - "We believe democracies will outperform authoritarians because they're more transparent and are less corrupt. Authoritarians do not want capitalists to be bigger than the state." ~ Julie Cane Links  Julie Cane on LinkedIn Democracy Investments It's The End Of The World As We Know It by R.E.M. Wells Fargo Charles Schwab Christopher Browne Edward Rosenberg Jenny Johnson The Economist Freedom House Chip Roame Skip Schweiss Straight Arrow News Chip & Skip's Excellent Adventure Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2667-OPS-9/25/2023

This edition of The Weighing Machine marks the inaugural episode of "What's on Your Bookshelf," a segment that delves into the personal libraries of guests. This literary journey begins with exploring Dr. Daniel Crosby's bookshelf, Orion's Chief Behavioral Officer.  What makes this edition so extraordinary is its unique focus on the world of books and their impact on Dr. Daniel's life. From the book that has left a mark on his heart and mind to the oldest resting on his bookshelf, this episode goes deep into the world of literature. Key Takeaways [02:24] - The book that’s had the most significant impact on Dr. Daniel's life. [04:34] - The books that he has given most. [08:34] - Books Dr. Daniel authored that he is most proud of. [11:31] - Best books in finance Dr. Daniel has not written. [14:11] - Favorite author. [15:48] - The story behind the oldest books on Dr. Daniel's bookshelf. [20:23] - Annual book selection. [23:17] - Criteria for purchasing new books. [27:07] - The book that challenges his perspective. [32:52] - Dr. Daniel's take on the impact of AI on the financial industry. [34:09] - Favorite investment strategy. [35:11] - How Dr. Daniel maintains his physical and mental energy. [37:07] - The people Dr. Daniel is thankful for professionally. [39:54] - Podcast recommendations. Quotes [03:03] - "The most valuable part of my education was having to ground your interventions and thinking in a philosophy and make sure that the things that you were doing with clients were underpinned by research and theory and just some consistent thinking and not just grab baggy." ~ Dr. Daniel Crosby [21:40] - "Behavior change is the root of everything I do. I love the themes of reinvention. I am a foolish optimist in thinking that even really wayward people can, at any moment, turn it all around and totally reinvent themselves and do differently." ~ Dr. Daniel Crosby Links  Dr. Daniel Crosby on X Orion Behavioral Finance Standard Deviations with Dr. Daniel Crosby How to Disappear Completely by Radiohead  Either/Or - Album by Elliot Smith  Turn! Turn! Turn! (To Everything There Is a Season) by The Byrds  Tetragrammaton - "Rory Sutherland" with Rick Rubin Man's Search for Meaning by Viktor Frankl Bonds That Make Us Free: Healing Our Relationships, Coming to Ourselves by C. Terry Warner  Leadership and Self Deception: Getting Out of the Box by The Arbinger Institute  You're Not That Great by Dr. Daniel Crosby  The Laws of Wealth: Psychology and the secret to investing success by Dr. Daniel Crosby  The Behavioral Investor by Dr. Daniel Crosby  Everyone You Love Will Die by Dr. Daniel Crosby  Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard H. Thaler and Cass R. Sunstein  The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel  Thinking, Fast and Slow by Daniel Kahneman  The Little Book of Behavioral Investing: How not to be your own worst enemy by James Montier  Either/Or: A Fragment of Life by Soren Kierkegaard  The Little Prince by Antoine De Saint-Exupéry  The Giving Tree by Shel Silverstein  The Tree Who Set Healthy Boundaries by Topher Payne  Thidwick the Big-Hearted Moose by Dr. Seuss  A Christmas Carol by Charles Dickens  Ametora: How Japan Saved American Style by W. David Marx  The Righteous Mind: Why Good People Are Divided by Politics and Religion by Jonathan Haidt  Behavioral Portfolio Management: How successful investors master their emotions and build superior portfolios by C. Thomas Howard  The Creative Act: A Way of Being by Rick Rubin  Viktor Frankl's Logotherapy  Dr. Crosby's Behavioral Finance Reading List Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2602-OPS-9/19/2023

Investors often find themselves at a crossroads when deciding how to allocate their resources for optimal returns. But one of the timeless strategies that has captivated investors seeking sustainable growth and long-term success in finance and investment is value investing, a philosophy made famous by Benjamin Graham and later championed by his protégé Warren Buffett. Value investors, armed with a keen eye for bargain opportunities, endeavor to uncover the hidden gems amidst the market's ups and downs. In this episode, Rusty and Robyn talk with Brian Ferguson, Senior Portfolio Manager at Newton Investment Management Group. Brian has been with BNY Mellon companies for over 26 years, specifically for the U.S. Dynamic Large Cap Value Fund (BNY Mellon Dynamic Value Fund). He joined Newton in September 2021, following the integration of Mellon Investments Corporation's equity and multi-asset capabilities into the Newton Investment Management Group. With a value-based investment philosophy, Brian talks to Rusty and Robyn about value investing. He shares insights into how investors should allocate between value and growth and the future of active management. Brian also discusses other important value sectors, including energy and healthcare. Key Takeaways [03:30] - Brian's career background and role at Newton Investment Management Group. [04:26] - What distinguishes Newton Investment Management Group as a firm? [07:11] - What is it like to work with John Neff? [08:49] - How value investing has evolved over time. [12:28] - Brian's rule of thumb for allocating between growth and value investing. [14:00] - Brian's thoughts on active management. [17:48] - How the energy sector has changed over the years. [23:27] - How the financial sector plays offense and defense across the different sectors. [28:22] - The opportunities in the healthcare industry. [32:01] - Brian's thoughts on how AI impacts the financial industry. [35:05] - Brian's favorite investment idea. [41:15] - How Brian maintains his physical and mental energy to perform at a high level. [42:28] - The people Brian is grateful for professionally. [46:12] - Brian's recommendation for content. Quotes [09:22] - "Being a student of the marketplace and the markets, if you look at a hundred years of history, values outperform, on average, two out of three years. And that speaks to the notion that it does matter what you're paying for something, and it's easier to outperform low expectations than high expectations." ~ Brian Ferguson [13:47] - "The better way to allocate between value and growth investing is to get a great manager and team with a proven process and philosophy, do both styles, blend it together, and then periodically rebalance it." ~ Brian Ferguson [16:41] - "The dispersions of results and outlooks on the things that drive intrinsic value, namely cash flow and earnings, have never been wider. And in my 30-year career as an equity investor, I've never seen it as wide as it is. And that is music to the ear of active managers." ~ Brian Ferguson Links  Brian Ferguson on LinkedIn Newton Investment Management Group Doin' This by Luke Combs Wellington Management Vanguard Keith Howell J.P. Morgan Berkshire Hathaway The Lion Tracker's Guide to Life The Money Masters The New Money Masters Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2519-OPS-9/11/2023

The rise of insourced chief investment officers (ICIOs) poses a direct challenge to old-guard legacy providers. Equipped with contemporary insights, data-driven decision-making, and quantitative investment management solutions, ICIOs are transforming investment strategies and setting new heights in the area of financial growth and security. In this episode, Rusty and Robyn talk with Chris Shuba, Founder and CEO of Helios Quantitative Research. After spending time at Ameriprise Financial and as a senior quant analyst at Columbia Threadneedle, Chris focused on developing mathematical models that could help financial advisors mitigate the market's volatility. These models were met with interest by a broad range of clients, and within the year, financial advisors nationwide were accessing his algorithms.  Believing that the majority of existing services available to financial advisors lack innovation, are too expensive, and enable commoditization in the wealth management industry, Chris talks to Rusty and Robyn about how he created his own service category, the insourced chief investment officer, and how this service can help financial advisors grow their firm.  Key Takeaways [02:55] - A brief history of Chris' career. [04:46] - What led to the creation of Helios? [07:39] - What sets Helios apart from other asset management firms? [09:26] - The difference between an ICIO and an OCIO. [12:18] - How having an ICIO can help advisors grow their firm. [14:54] - Why advisors are attracted to model portfolios. [18:13] - Customized vs. personalized model portfolios. [21:42] - How Helios boosts customization. [25:08] - How Helios handles large amounts of data. [26:51] - Chris' outlook on interest rates. [29:13] - Chris' thoughts on the impact of AI in the financial industry. [32:11] - Chris's favorite investment idea. [33:22] - How Chris maintains his energy to perform at a high level. [34:19] - The people Chris is grateful for professionally. [36:13] - Chris' recommendations for content. [38:05] - Tips for fantasy football drafts. Quotes [16:16] - "Models will always have a flaw. If they're designed well, a model will always have an Achilles heel because it's going to have its sweet spot. But to have that, you have to have that part where it's designed to fail. And the beautiful part about a model is essentially what you're doing is picking what type of failure you're okay with." ~ Chris Shuba [22:00] - "A well-built, mathematically diverse portfolio can do very well in some of the most extreme environments." ~ Chris Shuba [26:03] - "There is a very definitive line between academia and the real world. And one of the big differences about Helios is that we do everything we can to live in the real world. That is where the rubber meets the road conversation between the advisor and their client and what they see on TV." ~ Chris Shuba Links  Chris Shuba on LinkedIn Chris Shuba on Twitter Helios Quantitative Research Seven Nation Army Ameriprise Financial Columbia Threadneedle Investments Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2439-OPS-9/1/2023

Due to the many risks facing today's market, many investors wonder whether now is the time to invest or just sit on the sidelines. While diversification can minimize exposure to any single economic, political, or market event, it's important to know the market's top risks to enable investors to manage expectations and protect their portfolios. But what are today's top market risks, and how can investors move forward? In this episode, Rusty and Robyn talk with Daniel Villalon, Principal and Global Co-Head of the Portfolio Solutions Group at AQR Capital Management. In his role, Daniel oversees the team responsible for advising clients on portfolio challenges and creating investor-oriented thought leadership. Additionally, Daniel founded, co-wrote, and hosted AQR’s podcast, The Curious Investor. Daniel talks with Rusty and Robyn about the market's top risks, what investors should expect moving forward, and how they can stay invested and reach their financial goals. Key Takeaways [05:25] - How Daniel went from the vineyard to the financial industry. [08:28] - The key role Daniel plays at AQR Capital Management. [11:04] - AQR's market outlook for the remainder of the year. [12:37] - The inflation perspective of AQR. [14:10] - Daniel's thoughts on recession risk. [17:01] - How Daniel rates the risk of fighting the Fed. [18:54] - How AQR measures the impact of investor expectations. [21:29] - Another potential risk Daniel is keeping an eye on. [23:38] - What investors could expect in terms of market returns in the years ahead. [26:58] - The return expectations for growth stocks versus value stocks. [32:16] - Why firms should have CMAs. [36:42] - What investors should do with their portfolios, given all the risks and challenges in the current market. [41:48] - AQR's perspective on commodities and real estate. [46:06] - How Daniel views long-short strategies. [47:50] - AQR's thoughts on managed futures and merger arbitrage. [52:48] - Daniel's personal investment strategy. [54:50] - How Daniel maintains his physical and mental well-being to perform at his best. Quotes [11:23] - "Coming up with an expected return for the future is easy to do, but very hard to do well." - Daniel Villalon [12:00] - "Diversification is the most reliable or least imperfect solution when positioning yourself for a world where you don't know with certainty what the next few months will bring." - Daniel Villalon [13:53] - "Inflation is a risk that neither of the two biggest traditional asset classes is particularly well suited to address." - Daniel Villalon [20:55] - "One of the challenges in terms of investor expectations is a lot of folks, implicitly or not, set their expectations based on what they've seen recently. That’s created a massive disconnect regarding what people expect from markets and what they're likely to get over the next five to 10 years." - Daniel Villalon Links  Daniel Villalon on LinkedIn AQR Capital Management Help! by The Beatles The Laws of Wealth: Psychology and the Secret to Investing JP Morgan The Mitchell Madison Group Pine Ridge Vineyards The Curious Investor Podcast Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least Buttonwood’s notebook | The Economist Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 1211-OPS-7/12/2022

Portfolio construction is a crucial aspect of investment management, directly influencing the trajectory of one's financial endeavors. As the global economy is constantly in flux, the challenge for financial advisors lies in constructing portfolios that cope with the changing dynamics of the economic landscape while achieving clients' long-term goals. In this episode, Rusty and Robyn talk with Adam Hetts, Portfolio Manager and Global Head of Multi-Asset at Janus Henderson Investors. Before joining the firm in 2017, Adam held various roles at Goldman Sachs, including Vice President and Senior Portfolio Strategist, where he led efforts in the U.S. and the Asia Pacific regions. At Janus Henderson, Adam and his team of strategists serve as a resource to their clients, assisting them in deconstructing, analyzing, and reconstructing their portfolios to identify risks and achieve results aligned with their investors' long-term objectives. Leading a team that constructs multi-asset solutions for clients' complex investment objectives, Adam talks to Rusty and Robyn about portfolio construction strategy and market outlooks. He shares insights on the current market environment, investor sentiment, and the questions financial advisors are receiving from clients. Adam also provides an in-depth analysis of the 60/40 balanced investment portfolio, discussing the equity side, fixed income concerns, and the importance of diversification. Key Takeaways [02:57] - Adam's professional background and role at Janus Henderson. [05:24] - Key takeaways from portfolio construction and strategy team discussions. [07:22] - Janus Henderson's insights on the equity side of the market. [10:16] - Adam's outlook and recommendations on non-U.S. stocks. [12:49] - The most common concerns about fixed income. [15:53] - The philosophy Adam and his team apply when building model portfolios. [19:05] - Adam's thoughts on the impact of artificial intelligence in the financial industry. [20:15] - How Adam maintains his physical and mental energy to perform at a high level. [21:46] - Adam's recommendations for content. Quotes [05:58] - "What we've seen happening now is the environment and the sentiments have been improving. It's not so much the Fed pivot as the big obsession for our clients. It's the portfolio pivot from defense to offense and just how soon and how aggressive to be with that pivot." ~ Adam Hetts [06:49] - "The most common conversation for us on our equity consultations is digging into the nuance and balance between the historically overvalued large cap and the undervalued small and mid-cap pieces." ~ Adam Hetts [16:48] - "We know clients want low fees, so we're open architecture to bring in a bigger opportunity set, including blending in passive ETFs. We know clients want to stay in their comfort zone, so we're globally diversified in our models. The goal is to help clients stay invested in the long run." ~ Adam Hetts Links  Adam Hetts on LinkedIn Janus Henderson Investors Janus Henderson Portfolio Construction and Strategy Team Janus Henderson Global Multi-Asset Model Portfolios Janus Henderson Market GPS Investment Outlook Intro Article by Adam in Market GP Janus Henderson Balanced Portfolio Recipe Webinar Shake It Off by Taylor Swift Goldman Sachs Continental Drift by Russell Banks The Wager by David Grann The Psychology of Money by Morgan Housel Just Keep Buying Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2307-OPS-8/18/2023

As the advice model continues to evolve, harnessing the power of technology is not just a competitive edge but a necessity. However, amidst this technological revolution, financial advisory firms have to maintain sight of innovations' true purpose. The most successful firms skillfully strike a balance between cutting-edge innovation and the human touch, ensuring that technology enhances, rather than replaces, the art of conversation. In this episode, Rusty and Robyn talk with Charles Goldman, Executive Chairman of the Board at Orion. Charles is also a member of the Board of Directors of Genstar portfolio companies ACA Group, AmeriLife, Cerity Partners, Mercer Advisors, and Orion. He is chairman of FinTech Evolution Acquisition and an American Mountain Guides Association board member. Charles talks with Rusty and Robyn about the importance of technology in the financial advisory space, how the advice model is changing, and how to build great relationships with clients. Key Takeaways [03:02] - Charles’ career highlights and his most rewarding experience. [05:58] - Charles' early observations of Orion as Executive Chairman. [08:41] - The challenges for financial advisors in the coming years. [12:12] - How technology impacts the advisory model. [15:51] - The gaps in the advisory space that need to be filled. [17:32] - The most important factors when building and maintaining client relationships. [21:45] - The benefits of private equity in the financial industry. [24:50] - The best investment styles for investors. [28:31] - What the future of a full-service advisory firm looks like. [32:25] - Charles' advice to aspiring leaders in the financial services industry. [35:51] - Charles' favorite investing idea. [38:18] - How Charles maintains his physical and mental energy to perform at a high level. [40:51] - The people Charles is thankful for professionally. [43:22] - Charles’ recommendations for content. Quotes [04:37] - "When you're trying to get a leadership point across and build culture, it starts with the firm's mission. It needs to be something you can grab hold of, something you can understand." ~ Charles Goldman [05:45] - "The thing that grabs employees and excites clients is when you live by a mission where you put the client first." ~ Charles Goldman [20:47] - "When you ask questions about building trust and creating conversation, it really is the quality of the conversation and the quality of listening. It's asking the question that stems from your expertise and knowledge of the client and their situation. Those are the best and most trusting relationships." ~ Charles Goldman Links  Charles Goldman on LinkedIn Charles Goldman on Twitter Back in Black by AC/DC Cerity Partners AssetMark Charles Schwab Fidelity Investments Mercer AmeriLife Marketing Group Boston Consulting Group Genstar Capital Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2233-OPS-8/14/2023

Renowned for its expertise and commitment to client satisfaction, BlackRock has made significant strides in revolutionizing the financial industry through its Separately Managed Accounts (SMAs) offering. BlackRock places an emphasis on meeting the needs of its end clients, regardless of whether they are institutional giants or retail investors. In this episode, Rusty and Robyn talk with Chris Ryan, BlackRock's Senior Fixed Income Portfolio Manager. In his role, Chris primarily covers the southeast part of the U.S., delivering model-based and custom solutions in both the taxable and tax-exempt space for high-net-worth individuals, institutions, foundations, pensions, charitable organizations, and religious organizations, among others. He works closely with their New York-based corporate team to help filter out the most appropriate credits for their SMA clients while providing consistent updates to help drive decisions to buy, sell and hold positions.  With nearly 13 years of experience at BlackRock and previous experience at Merrill Lynch, Chris talks with Rusty and Robyn about fixed income separately managed accounts (SMAs) and how they differ from bonds and ETFs. He also discusses the benefits of fixed income separately managed accounts, the current challenges of the bond market, and the opportunities of municipal bonds. Key Takeaways [02:32] - Chris's background and career in the financial industry. [03:37] - What a fixed income separately managed account (SMA) is and its benefits. [05:36] - What it's like to work as a fixed income SMA portfolio manager. [08:17] - What sets BlackRock apart and its secret sauce for success. [12:02] - BlackRock's views on the bond markets. [15:34] - What BlackRock's state-specific personalization in municipal bonds is all about.  [17:33] - BlackRock's offerings on Orion, including strategies, minimums, and fees. [19:39] - How Chris maintains his physical and mental energy to perform well. [20:16] - The mentors and colleagues Chris is grateful for. [21:06] - Chris' recommendations for content. Quotes [05:08] - "Separately Managed Accounts (SMAs) give the client the ability to personalize their holdings not only to their tax situation but also to their values preferences." ~ Chris Ryan [09:03] - "One factor that has set BlackRock apart is that it focuses on end clients' needs first and foremost, whether that be institutional or retail clients. BlackRock provides the client a better overall understanding of the risks within their investible universe." ~ Chris Ryan [11:03] - "Interactions that are built on trust and solid client service lead to a longer-lasting relationship." ~ Chris Ryan Links  Chris Ryan on LinkedIn BlackRock Back in Black by AC/DC Merrill Lynch Aladdin by BlackRock Ryan Nielsen The Bid Fixed Income in 15 Macro Musings with David Beckworth Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2146-OPS-8/4/2023

Time and again, investors are reminded of the turbulent nature of financial markets. Attempting to predict short-term market movements can lead to a myriad of pitfalls and missed opportunities. Wise investors recognize that true wealth creation lies in the ability to weather market downturns and emerge stronger on the other side.  In this episode, Rusty Vanneman and Robyn Murray talk with Jim Cullen, Chairman and CEO at Schafer Cullen Capital Management. Jim founded the firm in 1983 and is responsible for overseeing Schafer Cullen Capital Management and has served as the CEO and Co-Portfolio Manager on all of the firm's strategies. Jim has also been responsible for overseeing the affiliated firm, Cullen Capital Management LLC, since its formation in 2000. His experience in the investment business spans over 60 years. A leading value manager for decades, Jim talks about how the markets have changed over the last 60 years. He also discusses long-term value investing and how it makes sense for investors, the importance of dividends and dividend growth, and why market timing is the root of all evil for most investors. Key Takeaways [03:06] - What the market looked like 60 years ago. [06:15] - How the 1970 bear market impacted Jim's investment philosophy. [11:20] - The inspiration behind Jim's book, “The Case for Long-Term Value Investing.” [15:06] - A look back at Schafer Cullen Capital Management's origins. [16:23] - Why Schafer Cullen Capital Management includes dividend growth in its value investing. [17:17] - How Jim tackles market timing with investors. [19:02] - Jim's approach to stock selection. [20:51] - What happens when the market is concentrated? [22:14] - What Jim has to say about financials. [23:59] - What Jim has to say to young people looking to invest in today's market. [25:23] - Jim's thoughts on how AI might affect the investment industry. [27:24] - Jim's favorite investment idea. [29:25] - The people Jim is thankful for professionally. [31:24] - Content recommendations from Jim. Quotes [10:00] - "Every five-year period has some tough periods, recessions, bear markets, and all the negative stuff. But the five-year time horizon bailed you out on all of them." ~ Jim Cullen [17:40] - "Market timing is the root of all evil for most investors. It's the killer of long-term performance." ~ Jim Cullen [18:04] - "Don't try to time the market because you make all your money when you come out of that recession. That's the biggest part of all the gains in the market over time." ~ Jim Cullen Links  Jim Cullen on LinkedIn Cullen Funds Good Vibrations by The Beach Boys Merrill Lynch Mid-Year Note the Danger Zone A Time for Value The Case for Long-Term Value Investing J.P. Morgan Jamie Dimon Jason Zweig Goodbye Mickey Mouse Connect with Us Meet Rusty Vanneman, Orion’s Chief Investment Officer Check Out All of Orion’s Podcasts Power Your Growth with Orion Disclosure Advertisement supplied by Schaeffer Cullen Capital Management. Schaeffer Cullen Capital Management and OPS are not affiliated companies and the advertisement is not a recommendation or endorsement by Orion Portfolio Solutions, LLC for any of the services referenced or provided. 2044-OPS-7/28/2023

The marketplace is no stranger to speculation and unpredictability, with investors often left to navigate the highs and lows of the financial rollercoaster. As more investors seek to balance risk and reward, defined outcome ETFs present an enticing solution that marries the quest for growth with the imperative for protection.  In this episode, Rusty and Robyn talk with Bruce Bond, Co-Founder and CEO of Innovator ETFs. He also co-founded PowerShares Capital Management in 2003. In addition to being recognized for best-in-class products, Bruce has been named the ETF industry's most influential person on multiple occasions and has been quoted in financial publications around the world. Bruce talks to Rusty and Robyn about the growth and changes in the ETF industry, as well as the key drivers of growth and trends to watch. He also shares how Innovator ETFs differentiates itself from other investment management firms and what advice he gives to investors when selecting and evaluating ETFs for their portfolio. Key Takeaways [04:01] - How Bruce got started in the EFT industry. [05:24] - How the ETF industry has evolved over time. [07:11] - Innovator ETFs’ mission and approach to innovation [10:48] - How advisors use the Defined Outcome ETFs. [15:01] - A look at Innovator ETFs’ Premium Income Barrier ETFs. [18:23] - The anticipated launch of Defined Protected ETFs. [21:02] - Growth and obstacles in the ETF industry. [23:09] - How Innovator ETFs adapted to future ETF trends. [24:24] - What investors should consider when selecting ETFs for their portfolios. [26:02] - Bruce's thoughts on the impact of AI on the markets and industry. [28:22] - Bruce's favorite investment idea. [29:30] - How Bruce maintains his physical and mental energy to perform at his peak. [30:51] - The people Bruce is thankful for professionally. Quotes [11:39] - "A lot of guessing goes on in the marketplace, but no one has a good handle on it. So having a product that provides a buffer against those losses on the equity side and simultaneously gives you access to a significant portion of the upside has huge value." ~ Bruce Bond [20:12] - "The beauty of protected ETFs is they're so efficient. They will give you the maximum you can get from the options market on the upside over two years. It removes all the middlemen, all the banks, all the annuities, all the funds, and all these people that get their hands in the pot." ~ Bruce Bond [23:38] - "The defined outcome category is gaining a lot of traction. This controlled exposure to the marketplace is where we will see a lot of growth in the future." ~ Bruce Bond Links  Bruce Bond Innovator ETFs One Thing At A Time by Morgan Wallen The Blessing by Elevation Worship First Trust Nuveen Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1856-OPS-7/11/2023

In finance, understanding the intricate workings of the human mind can be just as important as comprehending the numbers and market trends. Furthermore, behavioral finance acknowledges the undeniable truth that humans are not always perfectly rational when managing their finances. Our minds are prone to biases, emotions, and irrational behaviors that can derail even the most intelligent and successful individuals.  In this episode, Rusty and Robyn talk with Doug Lennick, CEO and Co-Founder of think2perform. Doug leverages his 40+ years of experience as a Fortune 100 executive, a seasoned small business owner, and an entrepreneur to help clients achieve optimal results. At think2perform, Doug leads a team that serves the needs of executives and their organizations. He helps clients improve their bottom-line results by enhancing revenue growth. Doug talks to Rusty and Robyn about behavioral finance and why people need to understand it for themselves and their businesses, how behavioral advice helps advisors and investors build and maintain strong relationships, and how to get started writing a book. Key Takeaways [04:52] - Why Doug built a career around behavioral finance. [07:07] - What think2perform is all about. [09:42] - How behavioral finance can help investors and advisors. [14:35] - What think2perform's Behavioral Finance Advice Program is about. [17:14] - What it takes to be a behavioral financial advisor. [21:10] - A list of Doug's published works. [24:51] - Doug's advice for improving interpersonal connections and creating meaningful relationships. [30:21] - How people can cultivate healthy relationships with money. [38:52] - Doug's advice to financial advisors who want to become authors. [41:44] - Doug's take on how artificial intelligence impacts financial advisors. [44:51] - One of Doug's favorite investment ideas. [46:01] - How Doug maintains his mental and physical health to perform at his best. [50:29] - The people Doug is grateful for professionally. [55:03] - Doug's recommendations for content. Quotes [09:18] - "We help people to understand that their mind has the authority to override the brain's desire to repeat behavior. We help smart people who are starting to do dumb things with their money go ahead and assess how smart they are, even in the presence of competing and difficult to deal with emotions." ~ Doug Lennick [10:07] - "Behavioral finance helps people make rational, smart, responsible, and values-based decisions with their money and their life in the presence of competing and difficult-to-deal-with emotions." ~ Doug Lennick [24:14] - "The common pursuit all humans have is that we all want to be happy with ourselves. We want to live a happy life. And by leveraging our financial intelligence, we create an intersection where our money, health, and happiness come together." ~ Doug Lennick Links  Doug Lennick on LinkedIn Doug Lennick on Twitter think2perform I Can See Clearly Now by Johnny Nash Start Me Up American Express Ameriprise Financial Richard Leider The Power of Purpose The Simple Genius (You) Financial Intelligence Moral Intelligence Moral Intelligence 2.0 How to Get What You Want and Remain True to Yourself Leveraging Your Financial Intelligence Don't Wait for Someone Else to Fix It One Thing from City Slickers Dr. Daniel Crosby Standard Deviation Podcast by Dr. Daniel Crosby The Obstacle Is The Way The Book On Stoicism That's Taking the NFL by Storm The Power of Full Engagement Chanhassen Dinner Theatres Built To Move Big Feelings: How to Be Okay When Things Are Not Okay Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1757-OPS-6/28/2023

Investing has become a delicate balance between opportunity and risk. The potential for substantial gains is undoubtedly enticing, but the inherent volatility and unpredictability can be unnerving. Furthermore, the emotional rollercoaster that accompanies market volatility is another challenge.  In this episode, Rusty and Robyn talk with DeFred "Fritz" Folts. Fritz has over 40 years of experience in the investment management industry. He was one of the co-founders of 3EDGE Asset Management, serving as the Chief Investment Strategist and member of the Investment Committee. Before 3EDGE, Fritz was one of the first team members at Windward Investment Management, a pioneer in constructing globally diversified portfolios utilizing index Exchange Traded Funds (ETFs).  As an ETF strategist, Fritz talks to Rusty and Robyn about multi-asset investing and how to do it well. He also speaks about managing investment risk and his market outlook for multiple asset classes. Key Takeaways [03:06] - The experience Fritz has in managing investments. [04:43] - 3EDGE Asset Management's investment approach and philosophy. [07:14] - How 3EDGE incorporates investor psychology into their model. [09:03] - How advisors use the 3EDGE strategies on behalf of their clients. [11:41] - What 3EDGE's tactical multi-asset approach looks like. [14:40] - Why 3EDGE focuses so much on managing investment risk. [17:01] - Differences between total return and ESG strategies. [19:55] - 3EDGE's market outlook for all asset classes, including crypto. [28:01] - Fritz's take on how artificial intelligence could impact investment management. [30:10] - Fritz's favorite investment idea. [31:44] - How Fritz remains physically and mentally healthy to perform well. [35:13] - The people for whom Fritz is professionally grateful. [36:52] - Fritz's recommendations for content. Quotes [05:54] - "Markets are not completely random. They're driven by the cause-and-effect relationships that impact equities, bonds, commodities, and currencies across the globe. And these relationships are interrelated." ~ DeFred "Fritz" Folts [06:37] - "There's more risk out there than people understand. So, our approach to managing that risk is to be tactical, meaning we make changes to the portfolio when our investment outlook changes and are always globally diversified." ~ DeFred "Fritz" Folts [15:40] - "It's really difficult to hang in there as an investor when you're watching your portfolio and your net worth decline. Having to live through that is hard." ~ DeFred "Fritz" Folts Links  DeFred "Fritz" Folts on LinkedIn Fritz Folts on Twitter 3EDGE Asset Management 3EDGE Asset Management on YouTube 3EDGE Orion Spotlight Paper Fritz Folts’ Recommended Reads Your Saving Grace by Steve Miller Band Stephen Cucchiaro Windhaven Investment Management Charles Schwab The Origin of Wealth by Eric Beinhocker The Fed Unbound by Lev Menand The Price of Time: The Real Story of Interest Meditations by Marcus Aurelius The Obstacle Is the Way by Ryan Holiday The Artist Behind Fritz’s Cow Painting Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1640-OPS-6/15/2023

Value investing has long been a pillar of success for many savvy investors. However, as the markets evolve and new dynamics emerge, this conventional approach may no longer provide optimal results. Recognizing the need for a fresh perspective, investors are now turning their attention to a different lens through which to view value investing—one that takes into account a company's free cash flow yield. In this episode, Rusty and Robyn talk with Sean O'Hara, President at Pacer ETFs and Director at Pacer Financial. Sean began his career at PLANCO/Hartford in 1985, where he spent 22 years as a wholesaler, divisional manager, and managing director of the national wholesaler team. In 2007, Sean joined Joe Thomson at Pacer Financial to serve as a national wholesaling company for various products, including exchange-traded funds, exchange-traded notes, annuities, and SMAs. In 2015, Pacer ETFs was launched.  A leader of an award-winning ETF provider, Sean talks about cash cows, ETFs, SMAs, and artificial intelligence. More importantly, Sean speaks about the potential problems with traditional value investing and how value investing can be improved. Key Takeaways [02:52] - Sean's career history and why he created Pacer ETFs. [04:19] - What makes Pacer ETFs unique? [05:42] - What cash cow means to Pacer ETFs. [06:22] - The pitfalls of traditional value and how Pacer thinks about value differently. [08:44] - How Sean defines book value and intangible value. [09:29] - The difference between enterprise value and free cash flow. [10:23] - The impact of higher interest rates on free cash flow and dividends. [11:10] - Tax efficiency comparison between ETFs and SMAs. [13:16] - Sean's outlook on the market. [15:24] - How Pacer ETF's cash cow philosophy works. [17:31] - Sean's take on how artificial intelligence impacts market investing. [19:20] - Sean's favorite investing idea. [20:19] - How Sean maintains his physical and mental well-being to perform at his best. [21:04] - The people Sean is professionally thankful for.  [22:43] - Sean's recommendations for content. Quotes [08:14] - "If you're going to find cheap stocks today, you can't be constrained by looking at traditional low price-to-book. You have to look at it in a different way. And free cash flow yield does that." ~ Sean O'Hara [10:30] - "Free cash flow is the mother's milk of dividend payments. If you don't have excess free cash flow, you can't pay dividends unless you borrow money to pay them. So, if you like and want to own dividends and grow your dividends over time, companies have to have excess free cash flow." ~ Sean O'Hara [16:49] - "The interesting offshoot to using free cash flow yield is you get a high-quality portfolio, and the names tend to have better earnings growth, which ultimately, in the end, drives stock prices." ~ Sean O'Hara Links  Sean O'Hara on LinkedIn Sean O'Hara Email Pacer ETFs Pacer Financial Should've Been A Cowboy by Toby Keith Joe Thomson Vanguard iShares State Street Global Advisors The Maze The Predators' Ball Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1474-OPS-5/30/2023

Activist investing embodies a powerful call to action, urging investors to engage actively and purposefully in shaping the corporate world. This approach presents a unique opportunity to tackle pressing societal challenges, celebrate transformative opportunities, and drive a more sustainable and prosperous future for both investors and society as a whole. By embracing the total value framework and wielding the power of shareholder votes, investors can foster positive change that transcends mere financial gains. In this episode, Rusty and Robyn talk with Jennifer Grancio, CEO of Engine No. 1. In her role, Jennifer guides the firm’s strategy and vision. Before Engine No. 1, Jennifer founded an advisory firm where she worked closely with CEOs to accelerate growth. She also served as a founding member of BlackRock's iShares business, where she led European, U.S., and global distribution and drove the growth of the global ETF industry and iShares’ leadership role. During her tenure at BlackRock, she led teams across wealth, personal, technology, and venture investing. With over 25 years of experience scaling businesses across financial services, Jennifer talks about activist investing and why it is good for investors and society. She also shares the power of shareholder votes and the reindustrialization of North America. Key Takeaways [02:56] - Jennifer's career background and how she got to Engine No. 1. [05:53] - How Engine No. 1 won a proxy battle with Exxon. [08:28] - How Engine No. 1's total value framework works. [10:12] - Why investors need both good index funds and active thematics. [11:47] - How VOTE uses shareholder votes to drive long-term value. [13:33] - Engine No. 1's proxy voting committee and its custom voting framework. [16:00] - The reindustrialization of North America. [19:37] - Jennifer's favorite investment idea. [20:24] - How Jennifer maintains her physical and mental well-being. [20:55] - The people Jennifer is thankful for on a professional level. [22:19] - Jennifer's content recommendations. [23:19] - A look at Jennifer's team at Engine No. 1. Quotes [05:23] - "We saw an opportunity to build a firm that was looking forward in time to ensure that the average investor and wealth portfolios could take advantage of some of these megatrends. So, Engine No. 1 was built to let people access wealth creation and economic opportunity and some of these huge themes that will unfold over the next 20 years." ~ Jennifer Grancio [09:59] - "The total value framework is an approach that goes deep and is very specific with these big public companies on their material risks because that's an important consideration as an investor." ~ Jennifer Grancio [20:02] - "We could be very sad about our world and some of the challenges ahead, or we can celebrate and take advantage of some of the opportunities. So there's a huge opportunity for jobs, economic wealth creation, and reassuring of jobs and manufacturing back to the U.S. and North America." ~ Jennifer Grancio Links  Jennifer Grancio on LinkedIn Engine No. 1 It's The End of The World As We Know It by R.E.M. BlackRock ExxonMobil The End of the World Is Just The Beginning Eli Horton Molly Landes Yasmin Dahya Bilger Jason LaMacchia Yusuf George Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1361-OPS-5/17/2023

Comprehending the interplay between the macro-economy and market movements can be challenging for investors. Yet, it is a pursuit that holds immense significance in today's complex financial landscape. With its multifaceted indicators and trends, the macro-economy is a powerful compass, guiding investors toward informed decision-making. By grasping the fundamental forces at play, investors can better gauge their investments' potential risks and rewards. In this episode, Rusty and Robyn talk with Mike Singleton, Senior Analyst and Principal at Invictus Research. Mike had the opportunity to work for several years with Broad Run Investment Management, where he spent most of his time conducting deep, fundamental diligence on the highest-quality companies he could find. Since then, most of his time has been spent researching the economy at-large and its relationship with the liquid asset markets.  Providing institutional-grade macroeconomic research to a wide range of clients, Mike talks about his outlook for the macro-economy, what that means for the market, and his technical analysis of the market price movement. He also speaks about how investors should consider asset allocation, stock bonds, real assets, and cash when building their portfolios. Key Takeaways [02:56] - What inspired Mike to enter the wealth management industry? [05:37] - What Invictus means by its tagline, “Macro Made Simple.” [06:42] - Mike's investment philosophy. [07:42] - Mike's technical analysis of the market price movement. [10:52] - How Mike assesses real economic growth. [11:50] - Mike's outlook on inflation. [12:52] - How artificial intelligence impacts economic growth and inflation. [14:53] - Mike’s fiscal and monetary policy outlook. [16:56] - How the presidential election affects the economy markets policy.  [20:48] - Mike's outlook for the near-term stock and bond markets. [24:46] - Mike's forecast for real assets. [26:02] - How investors should think about asset allocation, stock bonds, real assets, and cash when building their portfolios. [27:35] - Alternative investments that suit the current market environment. [28:42] - Mike's favorite investment idea. [29:22] - How Mike stays mentally and physically healthy to perform at his best. [30:52] - The people Mike is grateful to on a professional level. [32:15] - Mike's recommendations for content. Quotes [05:47] - "One of the things that deter retail or professional investors from integrating a top-down or macro perspective into their investment process is that it has a reputation for being extremely complicated, esoteric, and difficult to understand. And there are certainly a lot of macro analysts and public figures that make it seem that way." ~ Mike Singleton [09:06] - "Many people think that markets move randomly, that they're disconnected from the fundamentals, or that the Fed has destroyed rational price discovery. But the truth is, real trending moves in markets almost always reflect real fundamental trends. And that's not just a theory." ~ Mike Singleton [26:18] - "It's generally a good idea to play defense rather than offense when growth is slowing. That means having a net at the low end of whatever you are comfortable with." ~ Mike Singleton Links  Mike Singleton on LinkedIn Mike Singleton on Twitter Invictus Research In The Air Tonight by Phil Collins Warren Buffett American Association of Individual Investors David Lundgren Broad Run Investment Management Blackstone Fill The Gap Podcast Stanley Druckenmiller Market Wizards The Daily Edge Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Building successful investment models is a multifaceted endeavor, where allocation, security selection, selecting the right model provider, rebalance, and trading best practices can make all the difference. By understanding the key concepts behind building investment models, investment firms can navigate the complexities of the financial markets with confidence. Ultimately, this will provide their clients with optimal investment outcomes and create lasting value for all stakeholders involved. In this episode, Rusty and Robyn talk with Konstantin "Kostya" Etus, Chief Investment Officer at Dynamic Advisor Solutions. In his role, Kostya is responsible for leading Dynamic's Investment Management team and overseeing all investment operations, including investment people, philosophy, process, portfolios, and performance. Kostya's experience includes managing mutual funds, ETF strategies, and 529 plans and evaluating investment strategies through a robust due diligence framework, including SMAs, model portfolios, and individual funds. With specialized experience in asset allocation and security selection of various ETF and mutual fund portfolios, Kostya talks about what goes into building successful investment models, how to choose the best model provider, and what sets investment firms apart. A self-proclaimed movie buff, Kostya also shares a list of recommended summer movies worth watching. Key Takeaways [04:07] - An interesting story about Kostya's personal and professional life. [07:54] - What Dynamic Advisor Solutions does. [10:02] - A walkthrough of Dynamic's Berkshire Hathaway weekend blog. [16:06] - The five key concepts to building investment models. [22:07] - How advisors can choose the best investment model. [26:24] - What sets investment firms apart? [29:57] - The role culture plays in choosing the right partnership. [32:04] - The must-see summer movies of the year. [48:01] - Kostya's favorite investment idea.  [49:55] - How Kostya maintains a high energy level to perform at his best. [51:51] - The people Kostya is thankful for on a professional level. [55:03] - Kostya's recommendations for content. Quotes [26:06] - "When choosing the right manager, you need to partner with somebody you believe will be best for your clients and who you believe your personal philosophy as an advisor aligns best with that investment manager." ~ Kostya Etus [26:48] - "Everyone has their unique philosophy and investment process — people, philosophy, process. The first P has consistently been the driving differentiator amongst investment firms." ~ Kostya Etus [31:36] - "Culture has to be absorbed in this idea of compliance and doing the right thing. Everybody needs to take care of the clients and do everything in the best interest of the clients. That leads to taking care of your employees, taking care of your partners, and your relationships." ~ Kostya Etus Links  Konstantin "Kostya" Etus on LinkedIn Konstantin "Kostya" Etus on Twitter Dynamic Advisor Solutions Why Can't We Be Friends You've Got a Friend in Me Jim Cannon Salesforce Berkshire Hathaway Warren Buffett Q2 2023 Investing Insights: Top 3 Lessons from Warren Buffett In 2023 Oriental Trading Todd Clark Everything Everywhere All at Once Sisu The Fast and The Furious The Little Mermaid Spider-Man: Across the Spider-Verse The Flash Transformers: Rise of the Beasts Asteroid City Mission: Impossible - Dead Reckoning Barbie Oppenheimer How Do You Live? Killers of the Flower Moon Last Voyage of the Demeter Strays The Eight Mountains Guardians of the Galaxy Vol.3 Josh Jenkins Lutz  Grant Engelbart Michael Hadden Jeovany Zelaya Ludacka Wealth Partners Nick Codola Joe Smith Parti Pris Investment Partners Intelligent Investor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1455-OPS-5/26/2023

In pursuing financial success, investors seek strategies that offer attractive returns and prudent risk management. As strategic decision-making is key to optimizing returns and weathering market volatility, tactical income strategies have emerged as a promising solution. By analyzing macroeconomic factors, assessing market trends, and identifying the most attractive income-generating opportunities, portfolio managers can make informed decisions about asset allocation, selecting the most promising income-generating securities while avoiding those with the highest risk. In this episode, Rusty and Robyn talk with Alex Oxenham, Portfolio Manager and Co-CIO at Hilton Capital Management. Alex joined Hilton Capital in 2011 from HSBC Private Bank. As a portfolio manager, Alex looks for opportunities throughout the entire investable universe. He selects investments primarily in the context of a macro-economic backdrop which provides a solid framework for idea generation.  With a combined knowledge of debt and equity markets and successfully institutionalizing Hilton's research and investment process, Alex talks about Tactical Income strategies, how they work, and how to incorporate them into investment portfolios. Key Takeaways [03:36] - Alex's career highlights and how he got to Hilton Capital Management. [04:44] - Alex's investment philosophy and tactical income strategy. [06:03] - The macro framework Alex uses for stocks and bonds. [07:54] - The time frame Alex looks at when making investment decisions. [08:57] - The kind of investors best served by tactical income. [10:18] - How tactical income fits into a portfolio. [12:03] - Alex's rule of thumb for the overall stock market. [13:00] - What the current portfolio yield looks like. [16:20] - The most challenging aspect of Alex's job at Hilton. [20:03] - One of Alex's favorite investment ideas. [21:42] - How Alex maintains his energy to perform at a high level. [24:32] - The people Alex is grateful for professionally. [27:13] - Alex's recommendations for content. Quotes [07:25] - "When we think about positioning our tactical strategies at Hilton, we think about whether the economy's growing or shrinking or maintaining a neutral base. And then, we adjust our allocations based on those rates of changes that occur in the macro environment." ~ Alex Oxenham [09:22] - "For 21 years, we have been trying to deliver a consistent standard deviation for clients through a market cycle. And what we found from a practical standpoint is that 60% to 30% equity waiting and then fixed income and cash make up the difference." ~ Alex Oxenham [13:23] - "If you target a yield, you end up having undue influence on the portfolio. You have factor exposure to whatever yield goes out of favor. So you end up not being able to control your standard deviation." ~ Alex Oxenham Links  Alex Oxenham on LinkedIn Hilton Capital Management Wake Me Up by Avicii HSBC John Authers Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1318-OPS-5/12/2023

When it comes to wealth management, investment advice is just one piece of the puzzle. Financial advisors who focus on investing miss out on a key opportunity to provide comprehensive, holistic advice that can create real value for their clients. In fact, the importance of providing advice that goes beyond investing has been highlighted by recent research showing that many Americans are leaving significant amounts of money on the table by not optimizing their social security benefits.  In this episode, Rusty and Robyn talk with Philipp Hecker, Co-Founder and CEO of Bento Engine. Philipp is a Procter & Gamble trained Brand Manager, recovering BCG Consultant, and Wall Street veteran. He held several senior leadership positions at Deutsche Bank and J.P. Morgan. He is passionate about bringing better advice beyond investing to more American families and using technology to make human advisors more human more often. Passionate about financial planning, behavioral finance, and teaching children about the important concepts of money and wealth, Philipp talks about what advisors need to know about advice beyond investing, why Americans need more advice than just investing, and what Bento's wealth program for children is all about. Key Takeaways [03:55] - Philipp's personal and professional background. [06:36] - The why and how of Philipp's creation of the Bento Engine. [09:15] - Why advisors should take their conversations beyond dollars and cents. [14:49] - Bento Engine's programs for advisors. [17:10] - The impact Bento Engine expects on its wealth and children's programs. [19:47] - What drives the human side of giving advice? [21:54] - How artificial intelligence could potentially impact financial advisors. [23:44] - How Bento Engine provides holistic financial advice. [28:13] - How Bento's technology and content help advisors increase engagement and client satisfaction. [29:22] - Philipp's favorite investment idea. [30:49] - How Philipp maintains his physical and mental health to perform at a high level. [31:31] - The people Philipp is grateful for on a professional level. [33:17] - Philip's recommendations for content. Quotes [10:12] - "Advisors have a unique opportunity to show how much they care by proactively advising clients and prospects on wealth management questions that create quantifiable after-tax value without necessarily having a solution or product to sell at the same point in time." ~ Philipp Hecker [10:37] - "Leading with client-centric advice creates invaluable trust that matters greatly in any relationship." ~ Philipp Hecker [11:57] - "Many Americans leave hard-earned social security benefit dollars on the table. The median lifetime benefit they leave on the table by making suboptimal decisions around social security benefit timing is a whopping $182,000. These are big opportunities where advisors can lead with advice and create real value for their clients." ~ Philipp Hecker Links  Philipp Hecker on LinkedIn Philipp Hecker on Twitter Bento Engine Bento Engine on Twitter Bento Engine on LinkedIn One Tree Hill by U2 Procter & Gamble Boston Consulting Group J.P. Morgan Rethink. Financial Advice Podcast Kelly Corrigan Wonders Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1210-OPS-5/1/2023

Making financial decisions can be a stressful and emotional experience for clients. Plus, with the increasing complexity of financial markets and the growing diversity of clients' needs, financial advisors have to develop new skills to remain relevant in the industry. Beyond their traditional financial, technical, and legal knowledge, advisors have to incorporate emotional intelligence to provide better advice and create stronger relationships with their clients. But what exactly is emotional intelligence, and how can it help advisors create the most favorable outcomes for their clients? In this episode, Rusty and Robyn talk with Jeff Strese, Principal at Jeff Strese Consulting Group. Jeff has over 25 years of experience working across industries in leadership development, organizational effectiveness, and family dynamics. He is passionate about helping family businesses and organizations create clarity out of the complex as well as inspiring leaders from all backgrounds to develop and master critical skills like coaching, communication, and emotional intelligence. An executive coach and consultant to multi-generational family enterprises, corporations, and mission-driven nonprofit organizations, Jeff talks about what emotional intelligence is and why financial advisors need to understand it. He also discusses incorporating emotional intelligence, active listening, and other qualitative skills in financial services to improve practice and strengthen client relationships. Key Takeaways [04:33] - How Jeff got into leadership development and family advisory services. [06:27] - The meaning of emotional intelligence and why advisors should have it.  [09:32] - Why active listening is important in today's advisory practice. [10:49] - What emotional hijacking is all about. [12:36] - What overgeneralization and labeling mean in organizations. [14:43] - The blame game and personalization in organizations. [16:38] - What discounting the positive means. [17:28] - The concept of Wealth 3.0 and how advisors can put it into practice. [21:11] - Jeff's favorite investment idea. [22:55] - How Jeff maintains his ability to perform at his best. [25:40] - People to whom Jeff is grateful on a professional level. [27:49] - Jeff's recommendation for content. [30:07] - Jeff's insights on AI in financial advice. Quotes [06:45] - "In the financial advising space, having a baseline of financial, technical, and legal skills is an incomplete package in this day and age. When you begin adding other kinds of qualitative skills like emotional intelligence and active listening, you have a very well-rounded, seasoned advisor." ~ Jeff Strese [11:00] - "The first and basic line of emotional intelligence is around self-awareness. That's the ability to understand how your communication style impacts other people, particularly under stress or tension." ~ Jeff Strese [14:08] - "Advisory firms need to see themselves as learning organizations. If the insides and culture of the organizations do not match the outsides, it ultimately will dumb down the effectiveness of the overall firm and its growth and potential." ~ Jeff Strese Links  Jeff Strese on LinkedIn Jeff Strese on Twitter Jeff Strese Consulting Group Cullen Funds Dark Star by Crosby, Stills & Nash Richard Joyner Tolleson Wealth Management Emotional Intelligence by Daniel Goleman Start with Why by Simon Sinek Family Office Exchange Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts Disclosure Advertisement supplied by Schaeffer Cullen Capital Management. Schaeffer Cullen Capital Management and OPS are not affiliated companies and the advertisement is not a recommendation or endorsement by Orion Portfolio Solutions, LLC for any of the services referenced or provided. 1157-OPS-4/24/2023

Registered Investment Advisors (RIAs) have become popular for individuals and businesses seeking personalized investment advice. They have won the trust and loyalty of clients who value tailored investment strategies with their direct and personalized approach. While the current economic environment presents its fair share of challenges, many experts believe the industry is well-positioned to navigate these obstacles and continue its growth trajectory. RIAs remain confident about the future of their industry and are expected to be vital players in the financial services industry for years to come. In this episode, Rusty and Robyn talk with Bryan Keller, Chief Strategic Officer at Dakota Wealth Management. In his role, Bryan focuses on the firm's merger & acquisition efforts, creating strategic opportunities with industry partners, Dakota's investment policy and portfolio management, custodian and trading platforms, and ensuring a superior client experience.  Skilled in managing the mechanical details of investment management offerings and strategically developing customized client portfolios, Bryan talks about the future of Registered Investment Advisors (RIAs), the ins and outs of the RIA landscape, and how mergers and acquisitions (M&A) are playing out in the RIA industry today. Key Takeaways [03:54] - Bryan's career history. [06:56] - How Bryan began working with Dakota Wealth Management. [09:02] - What a typical day for a Chief Strategic Officer is like. [10:58] - How M&A plays out in the RIA industry today. [13:51] - How high-interest rates and volatility in equity markets impact M&A activity. [15:54] - Factors that can make RIAs ineffective at selling their businesses. [18:06] - How advisors can sift through the overwhelming information involved in M&A. [21:24] - How likely are smaller RIAs to succeed in the future? [22:46] - The top challenges and needs of advisors in the future. [24:52] - How generative AI can impact financial services. [27:13] - What a snowflake investor and a snowflake market are. [31:11] - What advisors should consider when building portfolios in the current economic climate. [36:25] - Bryan's outlook for inflation and economic growth. [37:52] - How Bryan maintains his ability to perform at a high level. [39:59] - The people Bryan is grateful to on a professional level. [43:46] - Bryan's recommendations for content. Quotes [16:40] - "Every seller wants to get everything they want as part of a deal. They want the highest price, they want the loosest terms, and they want it all. But if the buyer is doing the same thing for every transaction they're doing, what they end up getting at the end is just an aggregated business." ~ Bryan Keller [21:28] - "RIAs are phenomenal businesses. The clients like them more because they're getting that direct, customized approach." ~  Bryan Keller [37:29] - "We have a challenging economic environment at the headline level, but it's navigatable. I don't see it as something I'm particularly worried about." ~ Bryan Keller Links  Bryan Keller on LinkedIn Dakota Wealth Management Jigsaw Falling Into Place by Radiohead Peter Raimondi BlackRock Dance of the Cranes Monday Morning Bullets Jeff DeMaso What You Do Is Who You Are The Hard Thing About Hard Things Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1100-OPS-4/18/2023

The current state of the market and economy is a topic of great concern for many people. With inflation still on the rise, interest rates increasing, recession risk looming, and banking crises, it is understandable that individuals and businesses alike are left uncertain about their future. In this episode, Rusty and Robyn talk with Phil Voelker, Chief Investment Officer at Advanced Asset Management Advisors (AAMA). In his role, Phil directs and manages AAMA's investment policy strategy. Throughout his career, Phil has pursued and secured a broad spectrum of objectives, from short-term cash management to aggressive growth of investments. Before joining AAMA, Phil served as Chief Investment Officer for a large regional investment firm, directing its multi-billion dollar investment portfolio. With over 40 years of experience managing securities portfolios, Phil answers the top questions and concerns about the market and how it compares to historical experience. He also shares his view on inflation, interest rates, recession risk, and the banking crisis. Key Takeaways [03:03] - Phil's career history in investment management. [03:51] - The role AAMA plays in the industry. [04:52] - Phil's assessment of the current banking situation. [06:09] - Phil's take on the current inflation environment. [10:06] - Are we heading for a recession? [11:54] - What Phil thinks about the current volatility in the stock market, the economy, and corporate earnings. [17:25] - How the current inflation compares with the long-term experience. [19:34] - One of the key points to remember in 2023. [21:42] - How AAMA positions its portfolios in response to market and economic conditions. [22:44] - Phil's favorite investment idea. [24:14] - How Phil maintains his energy to perform at a high level. [25:08] - The people Phil is grateful to on a professional level. [26:34] - Phil's recommendations for content. Quotes [09:47] - "There's a disconnect between what the Fed's saying and what the market is expecting. Unless something major breaks, we don't expect a pivot." ~ Phil Voelker [19:08] - "From a historical perspective, today's interest rates are not excessive, certainly not relative to inflation. They're not excessive relative to long-term averages. And it would be nice for everyone if the Fed would stay away from trying to control interest rates and let the market figure it out." ~ Phil Voelker [20:49] - "It's sad that when the Fed's done fighting inflation and it drops back to 2%, that doesn't mean anybody recovers their dollars' purchasing power. It means that they're losing it more slowly than they had before." ~ Phil Voelker Links  Phil Voelker on Advanced Asset Management Advisors Advanced Asset Management Advisors Beethoven Fur Elise AAMA Market Commentary – Q1 2023 AAMA Advisor Kit Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0960-OPS-4/4/2023

In a dynamic field such as financial advisory, becoming successful takes more than technical knowledge and expertise. It also requires a unique combination of qualities that enable advisors to connect with clients on a deeper level, understand their unique circumstances, and ultimately help them achieve their financial goals.  In this episode, Rusty and Robyn talk with Steven Atkinson, Executive Vice President at Buckingham Strategic Partners. In his role, Steve leads a team committed to providing a transformational experience to investment advisors who have chosen to partner with their firm. His team proactively and reactively works with advisors, ensuring they understand their goals, obstacles, and business plans. Having a passion for helping advisors do more, Steve talks about what makes a good advisor, the qualities of a successful and admired financial advisor, and how to build good relationships and get fans. Key Takeaways [03:12] - How Steven got into investing. [04:56] - How Buckingham Strategic Partners serves financial advisors. [06:40] - What it's like to be Buckingham's Vice President. [08:05] - The key qualities that make the best advisors. [11:25] - What the best advisors do to build relationships. [18:14] - The key principles of a good leader. [20:10] - Steve's take on how AI could impact financial advisors. [21:43] - What inspired Steve to create the Admired Advisor podcast. [23:17] - What Steve's book, “27 Principles Every Investor Should Know”, is about. [29:41] - Steve's favorite investment idea. [30:28] - How Steve maintains his ability to perform at a high level. [31:46] - The people Steve is thankful for professionally. [34:00] - Steve's recommendation for content. Quotes [14:24] - "Every single client views you as a leader. You're handling their financial future, and they're trusting that you know the pathway and how to get there." ~ Steven Atkinson [18:33] - "There's no better time to show up as a leader than during times of crisis, and some of the best advisors lean into those crisis moments. They grow their reputation and their business when things go wrong. They show up, and they're present for their clients." ~ Steven Atkinson [21:24] - "If you're in the people business, you'll always have to spend time with people. That's one of the things you can't outsource. I don't think you can outsource the human element of making that connection and having those real conversations." ~ Steven Atkinson Links  Steven Atkinson on LinkedIn Buckingham Strategic Partners Standing Outside The Fire CLS Investments 27 Principles Every Investor Should Know Triumph of the Optimists Strategic Coach Dan Sullivan Alex Potts The JOLT Effect The Admired Advisor Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0891-OPS-3/29/2023

Creating personalized investment portfolios tailored to individual clients' unique needs and preferences has gained traction in the financial industry in recent years. As investors become increasingly savvy and demand more control over their investments, traditional approaches to portfolio management are no longer enough. Custom indexing is a powerful strategy that financial advisors can use to differentiate themselves and build stronger, more loyal client relationships. In this episode, Rusty and Robyn talk with Andrew Rosenberger, Head of Custom Indexing at Orion. In this role, Andrew oversees the management and monitoring of all investments under Orion's custom indexing offering. He is focused on delivering tax-optimized solutions to help financial advisors build customized client portfolios, emphasizing tax efficiency and tax transitions. Before joining Orion, Andrew served as a Senior Portfolio Manager for Brinker Capital's Wealth Advisory Team, where he was responsible for portfolio management, strategy planning, and communication of multi-asset class portfolios for high net-worth clients and institutions. Recognizing that custom indexing solutions are an effective means for financial advisors to solve clients' complex problems, Andrew talks about why custom indexing has gained popularity over the past few years, how it differs from other solutions, and why it works for investors. Key Takeaways [03:47] - A brief history of Andrew's career in wealth management. [06:34] - How custom indexing differs from direct indexing. [07:42] - What clients gain from custom indexing. [11:16] - What makes tax harvesting a value-add for clients. [13:34] - Why custom indexing isn't right for all investors. [15:17] - A few examples of custom indexing being used successfully. [18:47] - Why direct indexing has gained popularity over the past few years. [22:14] - The biggest challenges direct indexing faces in the future. [23:32] - What investors are most concerned about with custom indexing. [24:51] - How custom indexing affects active management. [26:36] - Andrew's favorite investment idea. [30:00] - How Andrew maintains his ability to perform at a high level. [32:30] - Andrew's recommendation for content. Quotes [19:28] - "Many asset managers left out of the ETF renaissance are looking at direct indexing as a way where they don't have to be just a commoditized ETF but can now add some value to a client." ~ Andrew Rosenberger [25:22] - At Orion, we're trying to help change the narrative that custom indexing is just another version of an ETF that we have to compete against, but rather as a partnership." ~ Andrew Rosenberger [26:23] - "As we continue evolving the custom indexing narrative, people will think of it more as a technology rather than a replacement or substitute for traditional active managers." ~ Andrew Rosenberger Links  Andrew Rosenberger on LinkedIn Misirlou by Dick Dale Brinker Capital Stephen Wolfram What Is ChatGPT Doing… and Why Does It Work? Orion Custom Indexing Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0739-OPS-3/14/2023

There has been a growing interest in sustainable investing over the last few years as investors seek to invest in companies and initiatives prioritizing environmental, social, and governance factors. Along with this trend, alternative investments have become popular for non-traditional investment opportunities. Meanwhile, ETFs have provided investors with a convenient way to invest in a diversified portfolio of stocks, bonds, and other assets. But what potential lies in the intersection of sustainable investing, alternative investments, and ETFs? In this episode, Rusty talks with Eric Mueller, Managing Director, Model Portfolio Strategist at BlackRock. For over 15 years at BlackRock, Eric worked closely with investment teams and portfolio managers to help clients reach and achieve their objectives. Today, Eric focuses on model portfolio business in the U.S., working closely with financial advisors and their clients. Live at the Orion Ascent Conference, Eric talks with Rusty about Exchange-Traded Funds (ETFs) and ETF portfolios. They also speak about the market outlook, sustainable investing, and the role of alternative investments. Key Takeaways [01:46] - Eric's career history and his role at BlackRock. [02:25] - The elevator pitch for BlackRock ETF strategies. [03:52] - The strategies that would complement BlackRock's ETF strategies. [05:08] - What the future holds for ETFs. [06:13] - The growth rate of ETFs in the years ahead. [07:33] - The fastest-growing part of the ETF industry. [09:32] - How investors can make their portfolios more tax-efficient. [10:59] - How BlackRock defines sustainable investing. [13:09] - How BlackRock incorporates ESG investing into its portfolio. [15:11] - Eric defines alternative investments and how investors should use them. [17:51] - BlackRock's outlook for stocks, bonds, real assets, and alternative investments. [20:23] - Eric's favorite investment strategy. [21:13] - What Eric does to maintain his ability to perform at a high level. [22:12] - The people Eric is professionally thankful for. [23:32] - Eric's recommendation for content. Quotes [05:33] - "We're still in the early innings of investors truly recognizing ETFs' power as building blocks in a portfolio, whether it's the cost-effectiveness, liquidity, transparency, or specificity you can get as a model portfolio manager or asset allocator." ~ Eric Mueller [08:15] - "The trend of model managers, asset managers, wealth managers, and building portfolios with ETFs are some of the most significant trends we will continue to see over the coming years." ~ Eric Mueller [09:17] - "As you look at the market environment around us that is so dynamic and ever-changing, ETFs are a great way to make changes to the portfolio without incurring substantial costs along the way." ~ Eric Mueller Links  Eric Mueller on LinkedIn BlackRock Sirius by The Alan Parsons Project iShares Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0675-OPS-3/7/2023

The issue of global debt has been a source of concern for policymakers, economists, and investors alike. While it's easy to get lost in the numbers and statistics, it's important to understand the implications of the growing debt on the economy. How can investors make informed decisions and optimize their investment portfolios to minimize the risks associated with global debt? In this episode, Rusty talks with Phillip Toews, Founder and CEO of Toews Asset Management. Phillip's management strategies focus on creating "investor-friendly" products designed to meet investors' economic and behavioral needs. Phillip is also the Founder and CEO of the Behavioral Investing Institute, an organization devoted to helping advisors manage investor behavior through market challenges. Live at the Orion Ascent Conference, Phillip talks with Rusty about the hidden implications of record global debt and what investors should be thinking and doing about it. They also speak about why tactical investments make sense for many investors, not only because of the potential market in economic conditions but also due to behavioral reasons. Moreover, Phillips explains the words bezzle, bezzle burst, and bezzle fizzle and why they should be considered part of the investing lexicon.   Key Takeaways [03:21] - Phillip's professional history and the origins of Toews Asset Management.  [05:03] - The strategies that complement Toews Asset Management's models. [07:14] - What Phillip's presentation, The Hidden Implications of Record Global Debt, is about. [09:29] - Why no one talks about global debts today. [11:30] - The implications of debt on the economy. [13:03] - How Phillip explains the chart showing U.S. wealth relative to GDP. [13:58] - What bezzle burst and bezzle fizzle mean. [15:44] - How to restore balance from high debt. [20:34] - Phillip's outlook on financial oppression, bezel burst, and bezzle fizzle. [25:58] - Why behavioral portfolios can be an all-season investment strategy. [29:57] - What investors should look for in an adaptive fixed income strategy. [33:10] - Phillip's thoughts on trend following. [36:49] - An overview of the Behavioral Investing Institute. [38:03] - What the Toews Asset Management national holiday is all about. [40:07] - Phillip's favorite investment strategy. [42:08] - How Phillip maintains his physical and mental health to perform at a high level. [43:33] - What Phillip learned from his mentors.  [44:50] - Phillip's recommendations for content. Quotes [08:10] - "We are at a full stop. Unprecedented levels of global debt are taking place in the government sector. The U.S. and many vast economies have around 100% of GDP and about 150% of GDP if you combine non-financial corporations and private debt." ~ Phillip Toews [10:45] - "When you look at the consequences of debt, economists tend to underestimate the effect of the buildup of debt on the positive implications on the economy when it's growing. Then they always tend to underestimate the impact during falling markets as well." ~ Phillip Toews [27:11] - "The behavioral portfolio is a construct we built as a part of our behavioral investing institute that attempts to not leave the ranch. It attempts to stick to its relatively conventional construct in terms of your allocation to stocks and bonds." ~ Phillip Toews Links  Phillip Toews on LinkedIn Toews Asset Management Behavioral Investing Institute I Wanna Be Sedated Episode 53: The Orion Due Diligence Process with Phil Toews Episode 76: The Behavioral Portfolio Design with Felipe Toews Carnegie Foundation Market Wizards: Interview with Top Traders Dan Kullman Daniel Crosby Brian Portnoy Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0673-OPS-3/7/2023

In today's business landscape, success is not solely dependent on products or services. Instead, the combination of people, culture, and technology drives business success. This trifecta of factors plays a crucial role in shaping the trajectory of any organization, influencing everything from employee productivity and customer satisfaction to innovation and long-term growth. In this episode, Rusty and Robyn talk with Brian McLaughlin, President at Orion Advisor Tech. Prior to Orion's acquisition in June 2022, Brian was the CEO and Co-Founder of Redtail Technology, where he worked closely with advisors, broker-dealers, and industry partners for nearly two decades. Through innovation and cooperation, Brian's touchstone has always been to make the industry a better place for those who depend upon it. He is passionate about the CRM-driven solutions Redtail Technology provides to the financial services community and enjoys getting his hands dirty to pursue continuous innovation. Having the desire to improve CRM-driven solutions, Brian talks about culture and technology. He explores how advisors can use technology to enhance and support their businesses, select the best investment solutions, and increase engagement in client satisfaction. Key Takeaways [03:25] - How Redtail Technology came to be. [08:05] - How the merging of Orion and Redtail Technology came about. [11:57] - Brian's definition of culture and why it's so important to an organization. [14:17] - How Brian adapted to the merging of Orion and Redtail's cultures. [16:46] - Brian's goals and objectives for building a fintech ecosystem. [19:20] - The qualities Brian looks for in teammates and creators. [21:17] - The power of integration and connected technology.  [23:30] - What the Redtail Campaigns is all about. [25:36] - What Redtail Speak is and how it works. [29:05] - How advisors can best serve their clients in the current market environment. [30:49] - The most vital piece of fintech in 2023. [33:17] - How technology can increase client engagement and satisfaction. [39:25] - The cool stuff Brian does as a tech nerd. [41:46] - How financial advisors can use technology to identify and select investment opportunities.  [43:40] - Brian's favorite investment idea. [45:51] - How Brian keeps his energy up to perform at his best. [47:43] - The people Brian is professionally thankful for. [49:04] - Brian's recommendations for content. Quotes [12:01] - "Culture is the foundational element of any successful business. We have to have core values that everybody can relate to in the organization to help drive us when times are challenging or even when times are good." ~ Brian McLaughlin [22:36] - "The power of integration is simplification, so you get back to what's really the most important thing. For an advisor, that's the client relationship and spending all their money and time there." ~ Brian McLaughlin [33:40] - "Technology is designed to make the advisor's life easier. It's meant to make their business operate easier." ~ Brian McLaughlin Links  Brian McLaughlin on LinkedIn Brian McLaughlin on Twitter Redtail Technology All I Do Is Win Eric Clarke Redtail Campaigns Snappy Kraken Orion Risk Intelligence Speak - Redtail Technology Orion Connect BasisCode Compliance Wondrium Aaron Klein Spenser Segal Tony Leal Skunk Works Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0652-OPS-3/2/2023

Inflation is a term that has been on everyone's lips recently. For investors and policymakers alike, staying on top of the latest trends in the inflation market is essential for making informed decisions about their investments and financial strategies.  In this episode, Rusty and Robyn talk with Michael Ashton, a.k.a. The Inflation Guy. Michael, Managing Principal at Enduring Investments, is one of the pioneers in U.S. inflation market innovation. Since 2003, Michael has played a role in developing the U.S. inflation derivatives markets and is a subject matter expert on inflation products and inflation trading. Before founding Enduring Investments, Michael worked in research, sales, and trading for several large investment banks, including Bankers Trust, Barclays Capital, and J.P. Morgan. Michael talks with Rusty and Robyn about inflation and economics from a trader's seat. He speaks about his inflation outlook, how people should think and respond to inflation, and what makes a good trader. Key Takeaways [03:32] - An overview of Michael's professional history. [05:36] - What Michael says about the current inflation environment. [06:43] - Michael's outlook for inflation for the rest of the year. [10:49] - How people should think about inflation. [11:28] - What Michael has to say about the Fed's efforts to combat inflation. [13:44] - Why the markets are more optimistic about inflation dropping right now. [16:08] - Michael's outlook on interest rates, stocks, and real assets. [19:38] - What the government debt levels mean for the economy and the markets. [24:39] - How investors should manage their portfolios in an inflationary environment. [28:57] - How investors and advisors should think about high-frequency economic data.  [31:05] - Michael's approach to using consensus expectations and surveys. [35:53] - What Michael meant when he said boredom is winning. [37:51] - How AI is going to change investing. [41:56] - What Michael advises people about consuming content. [45:05] - Michael's favorite investment idea. [47:06] - How Michael maintains his energy to perform at his best. Quotes [06:17] - "The inflation derivatives markets are pricing in that inflation would reach two and a quarter by June, and that's just not going to happen. Core inflation and median inflation will take a long time to get back to any semblance of what we thought and what used to be normal. And when I say a long time, I mean years." ~ Michael Ashton [10:50] - "The debate coming into this year wasn't whether inflation would decline as much as the market thought. The question was, when does everyone realize that inflation won't be 2% by the middle of the year?" ~ Michael Ashton [24:55] - "One of the things that happen when you get to higher inflation, in addition to having more volatile inflation, is all of the financial variables get more volatile. You need to diversify more than you otherwise would have in real assets, particularly commodities." ~ Michael Ashton Links  Michael Ashton on LinkedIn Michael Ashton on Twitter Enduring Investments Cents and Sensibility: The Inflation Guy Podcast Lampshades on Fire by Modest Mouse J.P. Morgan Barclays Corporate and Investment Bank Deutsche Bank John Huston Trinity University The Magnus Archives Inflation Guy Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0584-OPS-2/23/2023

Succession planning is essential for any organization to ensure its long-term sustainability and success. However, creating a successful succession plan is not as simple as identifying potential leaders and hoping for the best. What are the steps that organizations need to take to develop a robust and effective plan?  In this episode, Rusty and Robyn talk with Eric Godes, Senior Vice President and Senior Consultant at FP Transitions. Eric has been a pioneer in the wealth management industry. At Fidelity Investments, he helped to launch the first-ever ever home stock trading system. Also, he founded one of the country's first Registered Investment Advisors, Kobren Insight Management. At FP Transitions, Eric works with financial advisory firms across the country to help them reach all their goals, including internal and external solutions. A longtime leader in the wealth management industry, Eric talks with Rusty and Robyn about succession planning and how it works. He also speaks about the foundation of a successful succession plan, the compensation structure, and finding the right partner. Key Takeaways [04:08] - Eric's career history in wealth management and what led him to FP Transitions. [06:58] - An overview of Eric's role at FP Transitions. [08:27] - How Eric defines succession planning. [10:07] - The elements of an internal succession plan. [13:02] - The foundation of a successful succession plan. [14:27] - How a firm's compensation structure impacts an internal succession plan. [15:38] - What advisors should know about synthetic or phantom equity. [17:35] - The qualities to consider when designing a successor team. [19:33] - What good revenue growth looks like in an internal succession plan. [21:30] - The current market drivers for succession planning. [22:48] - The alternatives firms can use if their internal succession plan isn't well-positioned. [23:25] - How advisors can find the right succession planning partner. [27:45] - How consolidators fare in the M&A market. [31:55] - Eric's favorite investment strategy. [33:16] - How Eric maintains his ability to perform at a high level. [34:52] - The people Eric is professionally thankful for. [37:33] - Eric's recommendations for content. Quotes [08:57] - "Succession planning is a thoughtful, well-planned transition from one generation to the next. It doesn't happen at the moment, but it's usually a lengthy process." ~ Eric Godes [13:22] - "A stronger, growing, and thriving business will be more attractive to successors. It's also going to help them afford the succession plan financially." ~ Eric Godes [17:45] - "The first thing most owners would think about is, ‘does my potential successor have the same value set that I have?’ It's hard if you're not thinking similarly about the clients, the business, and what's best about servicing the clients." ~ Eric Godes Links  Eric Godes on LinkedIn FP Transitions Don't Look Back by Boston Fidelity Investments Charles Schwab TD Ameritrade Pershing E*Trade David Grau Pathstone Seeking the Extraordinary The Colony Group Michael Kitces How I Built This with Guy Raz The Perfect Fit Succession Planning Course Corrections Acquisition Readiness Self-Assessment Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0476-OPS-2/15/2023

When it comes to investing, the stakes are high. One bad decision can mean a loss of money, time, or opportunity. While there are many products and strategies an advisor can access and implement, how can they find the best ones to ensure their clients avoid costly mistakes and maximize their returns?  In this episode, Rusty and Robyn talk with Christopher Hart, Head of Investment Due Diligence at Brinker Capital. In his role, Chris oversees all investment products that advisors can use within their client portfolios. These include interviewing managers and talking to analysts to make sure they're doing what they say they will. He is responsible for ensuring the quality of all investment products curated by Orion and Brinker.  With over a decade of experience in due diligence in the investment industry, Chris talks with Rusty and Robin about why due diligence is an important step in building an investment portfolio, how to choose a manager or a strategy, and how Orion's due diligence process is different from other firms. Key Takeaways [03:18] - Rusty's review of the market. [06:01] - Chris' professional background and what brought him to Brinker Capital. [08:01] - What it's like to be the head of investment due diligence. [09:02] - Why due diligence is important in building an investment portfolio. [10:53] - Chris and his team's due diligence process. [14:52] - The amount of work Chris and his team put into due diligence. [17:09] - The time it takes for a new strategy to become available to investors and advisors. [18:03] - The qualities Chris looks for in an investment manager. [21:38] - What a successful investment strategy looks like. [23:32] - What causes an investment strategy to be removed from the platform. [25:55] - How Chris' due diligence process differs from other investment firms. [28:22] - The five P’s of due diligence. [30:41] - How due diligence has evolved over time. [33:22] - What investors and financial advisors look for in a due diligence manager. [35:13] - What Chris looks for in an analyst. [38:01] - The person who influenced Chris' investment philosophy. [39:33] - Chris' favorite investment strategy. [41:23] - How Chris maintains his physical and mental health to perform well. [43:02] - The people Chris is professionally grateful to. [45:14] - Chris' recommendations for content. Quotes [09:36] - "There are so many products out there for advisors to access, and they could spend all day looking at them, reading about them, and trying to figure out which is the best to use in portfolios for their clients. Our job is to filter that universe and bring that universe down to a manageable number." ~ Christopher Hart [10:15] - "Time is everyone's most precious commodity. Anything we can do to save advisors time and help them deliver better client outcomes is the central tenet of what we're trying to accomplish." ~ Christopher Hart [27:25] - "Many due diligence firms will pass along fact sheets, pitchbooks, and explainers of how a particular manager does what they do. What a lot of firms are lighter on is opinion around whether they think what those firms are doing is good or bad. And we make a conscious effort to weave that opinion in our guiding star reports." ~ Christopher Hart Links  Christopher Hart on LinkedIn Brinker Capital Sweet Child O' Mine by Guns N' Roses River Road Asset Management The London Company Jeremy Siegel Stocks for the Long Run The Future for Investors A Wealth of Common Sense Ben Carlson Mutual Fund Observer Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0482-OPS-2/15/2023

Exchange-traded funds, or ETFs, have become increasingly popular as investors look for a simple, diversified, and cost-effective approach to investing. While ETFs provide a convenient way for investors to gain exposure to a wide range of assets, in what direction is the ETF market headed in the future? In this episode, Rusty and Robyn talk with Eric Biegeleisen, Partner and Deputy Chief Investment Officer at 3EDGE Asset Management. In his role, Eric is responsible for the research operations at 3EDGE. His research focuses on discovering and exploring the interconnectedness of global capital markets through quantitative and qualitative analyses. Under Eric's leadership, 3EDGE has significantly enhanced its proprietary global capital markets model. Having a goal to steward 3EDGE's relationships with ETF managers to help bring new products to market, Eric talks with Rusty and Robyn about the ins and outs of exchange-traded funds (ETFs), the projected growth, and how they stand up against direct indexing. Eric also shares some of the opportunities ETF offers in the investment industry. Key Takeaways [02:59] - Eric's path to becoming 3EDGE Asset Management's Deputy Chief Investment Officer. [04:29] - How 3EDGE Asset Management serves private and institutional clients. [07:15] - How 3EDGE Asset Management constructs portfolios. [09:14] - What makes 3EDGE different from its competitors and peers. [10:28] - Eric's outlook on exchange-traded funds (ETFs). [11:32] - The pros and cons of investing in ETFs. [12:32] - How 3EDGE can compete against the big proprietary ETF providers. [15:01] - Eric's take on direct indexing being a threat to ETFs. [16:05] - The 3EDGE view on the stock market for 2023. [19:10] - Eric's tactical strategies for international equity. [21:57] - The strategy Eric uses to diversify assets. [25:11] - One of Eric's favorite investment strategies. [26:11] - How Eric maintains his energy and ability to perform at a high level. [27:11] - The people Eric is grateful for professionally. [28:36] - Eric's recommendation for content. Quotes [07:42] - "Behaviorally, investors can act as a herd, whether in a virtuous or vicious way. We need these behavioral factors to identify the real short-term potential changes." ~ Eric Biegeleisen [10:49] - "The ETF space continues to grow as it siphons off assets from other wrappers and large mutual funds. As new money folds in as it's gotten even larger, institutional dollars roll in." ~ Eric Biegeleisen [11:39] - "The pros (of ETFs) are a long list: transparent, low cost, tax efficient. There are over 1,700 listed ETFs in the U.S. alone, so there are exposures to nearly everything one would want." ~ Eric Biegeleisen Links  Eric Biegeleisen on LinkedIn Eric Biegeleisen on Twitter 3EDGE Asset Management Thunderstruck by AC/DC Stephen Cucchiaro Charles Schwab Windhaven Investment Management BlackRock Vanguard State Street Global Advisors Bob Phillips The Peter Attia Drive Podcast The Dawn of Everything: A New History of Humanity Never Finished: Unshackle Your Mind and Win the War Within Think Again: The Power of Knowing What You Don't Know Power and Prediction: The Disruptive Economics of Artificial Intelligence The Origin of Wealth Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0141-OPS-1/19/2023

Direct indexing is becoming one of the fastest-growing strategies in wealth management. This strategy involves creating and maintaining a portfolio that tracks the constituents of a benchmark index, such as the S&P 500. As direct indexing allows investors to customize and tailor their portfolios around specific investment interests and weight holdings according to their preferences, the trend of financial firms acquiring fintech platforms for their direct indexing technology is on the rise. In this episode, Rusty and Robyn talk with Art Lutschaunig, Co-Founder and CEO at Parti Pris Investment Partners. Art brings almost 40 years of financial industry experience to his position at Parti Pris. In his leadership role, Art calls upon his extensive experience and expertise in designing, building, and implementing large-scale wealth management organizations, services, and products to drive the development of Parti Pris’ services dedicated to portfolio personalization on behalf of financial advisors. Art talks with Rusty and Robyn about what financial advisors and investors need to know about direct indexing, the future of fintech and managed accounts, and his outlook on the current market. Key Takeaways [04:47] - How Art got started in the financial services industry.  [13:38] - The story behind the name Parti Pris Investment Partners. [15:35] - What financial advisors and investors need to know about direct indexing. [20:21] - Why the advisory community favors direct indexing strategies. [26:05] - How technology simplifies portfolio management for advisors. [32:46] - How the managed account business can be improved. [37:44] - The qualities Art is looking for when hiring people. [42:34] - Art's advice for people thinking about starting their own business. [45:16] - What Art thinks about the current market. [51:41] - How Art maintains his physical and mental health to perform at his best. [55:33] - The people Art is professionally thankful for. [59:17] - Art's recommendations for content. Quotes [27:43] - "We're driving technology to simplify the complex for the advisor. And Orion is one of the fintech firms creating lots of technology to provide seamless integration and simplify the advisor's ability to run a practice and a portfolio."  ~ Art Lutschaunig  [29:08] - "Our technology is getting to the point where we can acquire data, manage data, create security and data, create information out of data, and integrate across multiple constituent parts to offer a better, more simplified way for an advisor to implement their portfolios and practices." ~ Art Lutschaunig [41:54] - "Every time you look at a problem, flip the pancake. When you run into a problem, turn it upside down and see if the answer is on the other side of the pancake.  ~ Art Lutschaunig Links  Art Lutschaunig on LinkedIn Parti Pris Investment Partners I'm Comin' Home by Robert Earl Keen Bill Eigen Fidelity Investments Morningstar Russell Investments Washington University in St. Louis Fidelity Advisor Funds and Strategic Advisers Funds CLS Investments Aperio Group Vanguard Joe Smith When Things Fall Apart: Heart Advice for Difficult Times The Soul of A New Machine Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2472-OPS-12/21/2022

In today's economy, investors face both challenges and opportunities. With global events, changing interest rates, and market volatility impacting the investment landscape, it's more important than ever to stay informed and educated on the industry's most pressing issues. In this episode, Rusty and Robyn talk with Paula Wieck, Vice President and Senior Portfolio Manager at Commerce Trust Company. In her role, Paula comprehensively represents the firm's research and goals-based investment process, from initial assessment and creation of an investment objective to ongoing evaluation and adjustments based on changing market and life circumstances. She serves clients with thought leadership, insight, and consulting services. With knowledge of the market and experience in investment management, Paula answers some of the toughest issues in the investment industry today. These include questions about why investors should invest in the stock market despite the recession just around the corner, why rising interest rates are good for investors moving forward, and how to communicate effectively with clients. Key Takeaways [03:34] - Paula's journey to becoming a vice president and senior portfolio manager. [05:06] - Commerce Trust Company's investment philosophy. [05:59] - Paula's economic outlook. [07:32] - What Paula's typical day looks like. [09:14] - How client communication for investment managers has changed over time. [12:00] - Paula's favorite approach to communicating with clients. [14:27] - Paula's thoughts on what makes a good advisor. [16:32] - The qualities that make a good client. [17:26] - The advice Paula gives to people interested in becoming investment professionals. [21:52] - How women can accelerate their involvement in the investment industry. [24:07] - Why people should invest in the stock market during a recession. [27:40] - Why bonds fail to protect investors in a bear market for equities. [32:17] - Why rising interest rates are good for investors moving forward. [33:55] - Paula's investment strategy for clients who fear entering the market. [35:59] - Paula's favorite investment idea. [36:49] - How Paula maintains her energy and ability to perform at a high level. [38:11] - Some of the people Paula is grateful to professionally. [41:01] - Paula's recommendations for content. Quotes [17:51] - "Always stay eager and hungry to learn, and never feel like a project or task is below you. Always look for ways to make things more efficient." ~ Paula Wieck [26:58] - "It's impossible for people to time the market precisely on both sides very well. So you hurt your returns over the long term by missing those best days that are close to the worst days. Stay invested." ~ Paula Wieck [33:24] - "Our projections show that the loss we experienced in bonds will recoup around the end of 2025 or early 2026, just from the reinvestment. The older bonds with lower yields will be able to be reinvested in bonds with much higher yields, and that'll be beneficial and be a good time for conservative investors again." ~ Paula Wieck Links  Paula Wieck on LinkedIn Commerce Trust Company Lose Yourself by Eminem CLS Investments J. P. Morgan Morgan Stanley Is market timing worth it during periods of intense volatility? | J.P. Morgan Asset Management Compelling People: The Hidden Qualities That Make Us Influential Presence: Bringing Your Boldest Self to Your Biggest Challenges Tim Michel Thomas "Buzz" Willard The Psychology of Money Atomic Habits Tiny Habits A Wealth of Common Sense Animal Spirits Podcast Weighing the Risks Podcast Standard Deviations with Dr. Daniel Crosby Can't Hurt Me: Master Your Mind and Defy the Odds Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0116-OPS-1/17/2023

As we move into 2023, the global economy remains in flux. Despite some signs of recovery, uncertainty continues to dominate the financial markets, and investors are increasingly looking for a safe haven to protect their money. What are some of the investment strategies that can help investors manage risk and maximize returns? In this episode, Rusty and Robyn talk with Stanley Sattler, Director of Investment Solutions at Belle Haven Investments. In his role, Stanley is responsible for operating as a liaison between the investment team and Belle Haven's strategic partners. His primary duties are business development through supporting advisors and consultants across the country. Stanley is motivated by learning about clients' needs and wants to help ensure that their investments receive the attention they deserve. As a fixed-income expert, Stanley talks with Rusty and Robyn about what's in store for bonds and the fixed-income market in 2023, his outlook for bonds, Fed policy, and interest rates, and why municipal bonds are a unique investment opportunity. Key Takeaways [02:59] - Stanley's journey to becoming an investment solutions director. [03:47] - What Belle Haven does for its clients. [04:59] - Belle Haven's outlook on inflation. [06:38] - Stanley's perspective on how the Fed deals with interest rates. [09:21] - What Stanley thinks about the current recession risk. [13:57] - Belle Haven's view of municipal bonds. [17:17] - Why municipal bonds are a unique investment opportunity. [20:19] - Other fixed-income markets Stanley is interested in. [21:11] - Stanley's favorite investment strategy. [22:49] - How Stanley maintains his physical and mental health to perform at his best. [24:15] - The people Stanley is grateful to professionally. [25:52] - Stanley's recommendation for content. [28:36] - The best time to invest in fixed-income funds and laddered portfolios. Quotes [10:12] - "Recession probability is high to significantly high this calendar year, but it's just a scary word that's frowned upon. Recession is a natural part of the business cycle and a natural part of investing over long periods to grow and preserve wealth." ~ Stanley Sattler [15:19] - "For investors looking for a place to step out a few years on the yield curve and get incremental income and yield, you can do that in the municipal marketplace because the municipal bond space is 80+ percent individual investor driven." ~ Stanley Sattler [25:21] - "It's exciting to be involved and learn from a culture of entrepreneurship and service and putting the client first rather than what you typically see in the industry where ego or selfishness is involved." ~ Stanley Sattler Links  Stanley Sattler on LinkedIn Belle Haven Investments Eye of the Tiger Fidelity Investments The Handbook of Fixed Income Securities Belle Haven Email Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0073-OPS-1/11/2023

Investing in the stock market can be tricky. With so many different strategies available, it can be difficult to know where to start. Considering the current rollercoaster scenario in the market, how can investors make informed decisions about buying and selling assets and maximize their returns? In this episode, Rusty and Robyn talk with David Lundgren, Founder and Chief Market Strategist at MOTR Capital Management and Research. David is a 30-year investment industry veteran focusing on technical analysis strategies, particularly momentum and trend following. He is the former Director of Technical Research at Wellington Management and held senior analyst positions at Fidelity & Thomson Financial. With a demonstrated history of working in the investment management industry, David talks about technical analysis, momentum and trend following, and his outlook for stocks, bonds, cryptocurrencies, and commodities for 2023. Key Takeaways [04:29] - David's career history in the investment management industry. [07:54] - How David defines technical analysis. [10:48] - What it takes to be a successful technical analyst. [12:21] - The strengths and weaknesses of technical analysis. [14:45] - The different schools of thought in technical analysis. [17:11] - What to do when trend following fails. [19:42] - The best allocation of trend following and technical analysis in a portfolio. [23:41] - How a CMT differs from a CFA. [26:09] - What is the CMT Association? [27:21] - A sneak peek at this year's CMT Symposium. [28:57] - The top charts to watch in 2023. [31:38] - How David's multiframework approach works. [33:06] - Among David's favorite equity stocks for 2023. [35:48] - David's outlook for the bond market. [39:27] - What Dave thinks about bitcoin and cryptocurrencies. [43:13] - David's favorite investment idea for 2023. [45:25] - How David maintains his energy to perform at a high level. [47:31] - The people David is thankful for professionally. [49:07] - David's recommendations for content. Quotes [08:18] - "Most money managers are schooled in the principles of fundamental analysis, capital asset pricing theory, dividend discount models, and other traditional fundamental analysis techniques. Unfortunately, almost 90% of active managers underperform their benchmark using the tools they learn in business school." ~ David Lundgren [09:30] - "The market is the best fundamental analyst on the planet. Listen to what the market's trying to tell. And the best way to do that is to identify trend change and stay with the trend as long as the trend changes and goes in the other direction." ~ David Lundgren [26:58] - "There's a big hole in the body of knowledge of most investors, which contributes to their difficulty in keeping pace with the benchmark. That hole can be filled with a better understanding of technical analysis." ~ David Lundgren Links  David Lundgren on LinkedIn David Lundgren on Twitter MOTR Capital Management & Research Charting My Interruption Tick Tick Boom by The Hives Fidelity Investments Wellington Management Fill The Gap Podcast CMT Association The 2023 Annual Symposium Ralph Acampora Reminiscences of a Stock Operator How I Made $2,000,000 in the Stock Market Stocks on the Move: Beating the Market with Hedge Fund Momentum Strategies The Art of Execution: How the World’s Best Investors Get It Wrong and Still Make Millions No One Would Listen: A True Financial Thriller Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0032-OPS-1/6/2023

Sustainable investing has gained significant traction as more investors integrate environmental, social, and governance (ESG) factors into their investment decision-making process. Although there are many different sustainable investing strategies that investors can choose from, they are all intended to generate long-term financial returns while creating a positive impact on society and the environment. In this episode, Rusty and Robyn talk with Venk Reddy, Chief Investment Officer of Sustainable Credit at Osterweis Capital Management. Venk joined Osterweis Capital Management in 2022 as part of the Zeo Capital Advisors team transition, where he brings knowledge and experience in credit investing and absolute return investing.  Also a portfolio manager for sustainable credit strategies, Venk talks with Rusty and Robyn about what sustainable investing means, how sustainable credit differs from green bonds, and what catalysts could make sustainable investments a hit. Key Takeaways [01:06] - The top things to watch in 2023. [02:45] - What brought Venk to Osterweis. [04:48] - What sustainable investing means. [07:12] - How sustainable credit differs from green bonds. [10:38] - Venk's insights into the future growth of the ESG market. [12:30] - How investors should allocate their funds to ESG investments. [14:12] - The catalysts that could make sustainable investments a hit. [19:42] - Venk's outlook on interest rates and sustainable income. [27:44] - One of Venk's favorite investments. [29:47] - How Venk maintains his physical and mental health to perform at a high level. [32:27] - What Venk has to say about the people he works with. [34:16] - Content recommendations from Venk. Quotes [06:41] - "Our goal is to align performance and progress. But to align performance and progress, you need a situation in which the investments you're making are truly impacted by the management team's decision to make more progress and improve their standing along the categories of risk that they have." ~ Venk Reddy [12:17] - "The more investors focus on ESG as a risk, the larger that market becomes. Not because the market's getting bigger but because people realize that this approach is as appropriate for traditional portfolios as it is for mission-driven ones." ~ Venk Reddy [18:02] - "Security selection matters when people think it matters, and risk is a long-term concept. Once we get to a place where that's the discussion around ESG, risks, and sustainability, the market will grow substantially." ~ Venk Reddy   Links  Venk Reddy on LinkedIn Osterweis Capital Management It's The End Of The World As We Know It (And I Feel Fine) Zeo Capital Advisors Carl Kaufman Howard Marks Michaels Stores The Intelligent Investor by Benjamin Graham Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts Mindset: The New Psychology of Success Blindspot: Hidden Biases of Good People Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0034-OPS-1/6/2023

It’s that time of year again! Investors and market analysts are looking ahead to the coming year, and 2023 is shaping up to be an exciting year for the economy. Looking ahead, what factors will likely shape the market, and how can advisors utilize them to their advantage? In this episode, Rusty and Robyn talk with Kim Arthur, President and CEO of Main Management, LLC. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida. He has been profiled in Index Universe articles and referenced in Barron’s, Wall Street Journal, Business Week, and Fortune Magazine.  Kim talks with Rusty and Robyn about his outlook on inflation, the U.S. economy and corporate earnings, and the U.S. and international markets. As a portfolio manager, Kim also speaks about how investors should allocate their funds to international stocks and what advice he gives to investors in times of geopolitical crisis. Key Takeaways [03:24] - Kim's role at Main Management and what the firm is all about. [05:39] - Main Management's outlook on inflation. [07:20] - How investors should treat their bond allocations. [08:47] - Kim's outlook for the U.S. economy and corporate earnings. [11:01] - Kim's views on the U.S. and non-U.S. stock markets. [18:35] - How investors should allocate their funds to international stocks. [20:36] - Kim's advice to investors in times of geopolitical crisis. [22:40] - Kim's favorite investment strategy. [24:55] - A regimen that keeps Kim on top of his game. [26:57] - The people Kim is grateful to professionally. [28:42] - Kim's recommendation for content. Quotes [15:52] - "The U.S. dollar is the number one predictor of the international stock market outperforming the U.S. stock market. So if you're in a strong U.S. dollar environment, no matter how much you stomp your feet and want the U.S. market to underperform, it will not." ~ Kim Arthur [21:26] - "Investors need to realize that when geopolitical crises happen, you want to be putting money into the market because almost 12 or 24 months later, you're up significantly from those periods when they went down. It shows the tenacity and the growth mindset of the globe that when these things happen, everybody gets together and works to find a solution to that problem." ~ Kim Arthur [22:10] - "In the equity market, fear is temporary, and greed is permanent." ~ Kim Arthur Links  Kim Arthur on LinkedIn Main Management Main Management on Twitter Zombie (Miley Cyrus Rendition) Howard Marks Breath: The New Science of a Lost Art Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2450-OPS-12/19/2022

As the need for sophisticated investment management has grown, OCIO has become an increasingly popular solution for institutional investors and advisory firms looking for comprehensive, turnkey investment management. Partnering with an OCIO team connects investment strategies and products directly to investors' unique financial goals, risk targets, and plans. It is a powerful model to increase operational efficiencies and drive growth. In this episode, Rusty and Robyn talk with Kurt Brown, Chief Investment Officer at TownSquare Capital and Head of OCIO at Orion. In his role, Kurt oversees the firm’s bespoke, high-touch services that power advisory practices, family offices, and institutions to more efficiency and higher growth. His team has consistently helped advisor practices accelerate their growth rates while enhancing investor returns, tax efficiency, and client retention. An Outsourced CIO for institutions and advisory firms, Kurt talks with Rusty and Robyn about how TownSquare Capital started the OCIO trend, what the role of the OCIO entails, and why advisors that should consider an OCIO's services. Key Takeaways [04:14] - An overview of Kurt's professional background. [05:33] - How Town Square Capital started the OCIO trend. [07:41] - What the Ballard Center for Social Impact is all about. [09:08] - What the role of the OCIO entails. [12:32] - Why advisors should consider an OCIO's services. [14:15] - The opportunity for OCIO in the market. [15:23] - Why Kurt chose Orion for his OCIO efforts. [16:18] - Why custom indexing is so popular today. [18:37] - Kurt's outlook for wealth management. [20:00] - What advisors and their clients want most these days. [24:47] - The qualities of a high-performing financial advisor. [28:26] - Kurt's outlook for the global economy. [32:48] - The advice Kurt has for aspiring entrepreneurs. [35:21] - Kurt's secret to success. [37:29] - One of Kurt's favorite investments. [40:04] - How Kurt maintains his physical and mental health to perform at his best. [41:24] - The people Kurt is grateful to professionally. [42:52] - Kurt's recommendation for content. Quotes [19:41] - "If you're an advisor living and dying by just having a basket of ETFs, it will be a much more challenging environment in the future. You have to be able to provide these other elements of customization, service, and sophistication." ~ Kurt Brown [27:10] - "It's difficult to build a great business without partners. It is possible, but partnership models are incredibly powerful." ~ Kurt Brown [33:27] - "The faster you can learn what you're exceptional at, the easier and quicker your career and income will grow." ~ Kurt Brown Links  Kurt Brown on LinkedIn Kurt Brown on Twitter TownSquare Capital on Twitter Narco by Timmy Trumpet Brigham Young University Montgomery Securities Ballard Center for Social Impact Charles Schwab Fidelity Investments Brinker Capital Andy Rosenberger Vanguard Bank of America Eric Clarke Goldman Sachs Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2443-OPS-12/16/2022

Natural resources and commodities provide investors with a unique opportunity to benefit from the long-term appreciation of these assets. While global economic trends largely drive the performance of natural resources and commodities, these assets have historically outperformed traditional asset classes, such as stocks and bonds, during periods of inflation.  In this episode, Rusty and Robyn talk with Shawn Reynolds, Portfolio Manager for the Natural Resources Equity Strategy at VanEck. Before VanEck, Shawn served as a board member of several private Latin American oil and gas exploration and production companies and an energy analyst at Petrie Parkman & Co., covering U.S. oil and gas exploration and production companies. At VanEck, Shawn oversees the Natural Resources Equity Investment Team, including asset allocation, company research, and security selection. Shawn talks with Rusty and Robyn about all things natural resources. He takes a deep dive into various natural resource sectors such as energy, agriculture, and precious metals, how natural resources fit into investment portfolios in the current environment, and how they complement other assets. Key Takeaways [03:02] - What drew Shawn to the energy industry. [04:18] - The role of a portfolio manager for an active natural resource equity strategy. [05:29] - VanEck's economic outlook. [07:24] - How VanEck views inflation. [11:07] - VanEck's take on a recession in 2023. [12:39] - How natural resource stocks will fit into portfolios in 2023. [13:58] - What is meant by natural resource stocks. [15:19] - Why natural resources are a great inflation hedge. [18:03] - Shawn's recommendations for natural resource allocation. [21:38] - How recession can impact natural resource stocks. [23:51] - Do natural resource stocks replace or complement other real assets? [25:11] - Why investors should consider an ETF for their natural resource exposure. [26:25] - The difference between VanEck Agribusiness ETF (MOO®) and YUMY VanEck Future of Food ETF. [28:14] - What investors need to know about gold mining ETFs. [30:57] - VanEck's other natural resource ETFs. [32:00] - Shawn's favorite investment. [33:39] - How Shawn maintains his physical and mental well-being to perform at a high level. [34:42] - The people Shawn is thankful for professionally. [35:32] - Shawn's recommendation for content. [37:11] - What Shawn thinks about infrastructure. Quotes [04:28] - "The active natural resource strategy looks at the whole natural resource space. It's trying to drive alpha from all the aspects that natural resources and the underpinning of the global economy provide." ~ Shawn Reynolds [14:15] - "When we think about inflation protection and leverage to global growth, which we think resources are, they are undoubtedly traditional oil and gas, renewable energy and green energy, and metal in all its forms." ~ Shawn Reynolds [15:29] - "The great thing about the natural resource is that it does what it is supposed to do when it is supposed to do it. In times of inflationary periods, natural resource equities outperform the rest of the market." ~ Shawn Reynolds   Links  VanEck Humble and Kind by Tim McGraw Goldman Sachs Credit Suisse  Petrie Partners MOO - VanEck Agribusiness ETF YUMY - VanEck Future of Food ETF Veriten Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts   2447-OPS-12/19/2022

In this episode, Rusty talks with Jeff DeMaso, Editor and Founder of The Independent Vanguard Adviser. Jeff is also the interim CIO and Director of Research at Adviser Investments. He has been quoted in USA Today, Forbes, The Wall Street Journal, Barron's, InvestmentNews, and Kiplinger, to name a few, and named a Rising Star of manager research in 2019 by Citywire.  Jeff launched The Independent Vanguard Adviser to provide independent, honest, and unbiased coverage of all things Vanguard. The goal is to give practical investment advice and education in a language everyone can understand. Jeff talks with Rusty about what's great about Vanguard, what could be improved, why the company is having a tough year of sales, and a whole lot more.  Key Takeaways [02:30] - Jeff's career history and how he came to be in The Independent Vanguard Adviser. [05:22] - The best things about Vanguard as a company and a product. [08:50] - What Vanguard needs to do better. [11:50] - Why Vanguard is having its worst year of sales. [14:21] - Jeff's take on ETFs as the new trend. [17:04] - What Jeff thinks about Vanguard's asset allocation products. [21:09] - How Jeff rates Vanguard Wellesley Income. [22:13] - What Jeff expects for 2023. [25:22] - Jeff's outlook on inflation. [29:05] - Jeff's thoughts on real assets. [31:52] - The qualities Jeff looks for in a team member. [33:13] - How Jeff personally invests. [34:03] - How Jeff maintains mental and physical health to perform at his best. [35:30] - The people Jeff is grateful for on a professional level. [38:33] - Jeff's recommendations for content. Quotes [05:45] - "There's a lot to like about Vanguard. It's bringing low-cost investing to the masses. And not just within Vanguard, they put fee pressure on other players in the industry. We can thank Vanguard for that general pressure on fees coming down and making it such a great time to be an investor today." ~ Jeff DeMaso [09:07] - "There are some things Vanguard could improve upon, without a doubt. The biggest one is the customer service and technology side. And this is the other coin of their low-cost effort, where Vanguard has been cutting costs for years and years." ~ Jeff DeMaso [18:50] - "I always recommend ETFs and index funds, particularly for someone looking to get exposure to the market, keep costs low, keep things straightforward, and don't feel they have an edge." ~ Jeff DeMaso   Links  Jeff DeMaso on LinkedIn Jeff DeMaso on Twitter The Independent Vanguard Adviser Storm by Yoshida Brothers Morningstar VWINX - Vanguard Wellesley Income Fund Investor Shares VWELX - Vanguard Wellington fund Investor Shares VNQ Real Estate ETF Daniel Wiener Palm Valley Capital Baillie Gifford Sir John Templeton Warren Buffett Charlie Munger John Bogle Diversification Works Common Sense on Mutual Funds Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts   2253-OPS-11/21/2022

In the current market conditions, investors are looking for more than just average returns. They are looking for protection against downside risk and the ability to generate alpha. While the question of how to best construct a portfolio has no one-size-fits-all answer, certain best practices can help advisors build a better portfolio. In this episode, Rusty and Robyn talk with Paul Ma, Vice President and Lead Portfolio Strategist at Fidelity Institutional Asset Management. Paul and his team at Fidelity focus on helping advisors build a better portfolio. Paul talks with Rusty and Robyn about the trends in portfolio construction and diversification, how he builds a better portfolio, and how to adapt the classic 60/40 portfolio to the current environment. Key Takeaways [02:56] - Paul's career history and how he came to join Fidelity. [03:50] - How Paul helps advisors build better portfolios. [04:42] - Paul's key message to financial advisors and investors in today's market. [05:25] - Paul's recommendation for rebalancing. [06:52] - Is the classic 60/40 portfolio dead? [07:42] - The role inflation plays in a 60/40 portfolio. [08:50] - The latest trends advisors use to go beyond stocks and bonds. [11:31] - Fidelity's benchmark for liquid alternatives and real assets. [12:52] - Paul's personal investment strategy. [13:48] - How Paul maintains his physical and mental health to perform at his best. [14:34] - The people Paul is grateful for professionally. [15:34] - Paul's recommendation for content. Quotes [04:07] - "We try to help advisors be more forward-looking because one of the biggest mistakes advisors make is by whatever's working, looking backward. And we are open architecture and find the best breed names from different fund families to help advisors build a better portfolio." ~ Paul Ma [07:13] - "I hear people say that 60/40 is dead almost every year for the last decade. And they were wrong. 60/40 was awesome for two decades, with a sharp ratio much higher than a hundred percent equity sharp ratio." ~ Paul Ma [11:05] - "The most famous disclaimer in finance is that past performance is no predictor of future performance. Being contrarian, we are moving into a different era of higher inflation. So, new era, new asset classes like commodities and liquid alts." ~ Paul Ma Links  Fidelity Institutional Fidelity Investments Waterfalls by TLC BlackRock Putnam Investments Quarterly Market Update 2022 | Fidelity Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2158-OPS-11/9/2022

Advisors are an important part of the investment ecosystem. They help clients develop investment strategies and provide guidance on allocating assets best. Although every advisor has a unique approach to managing portfolios, they share one goal in common: to manage a portfolio that meets their client's expectations. In this episode, Rusty talks with Bryce Skaff, Co-Head of Global Client Group at Dimensional Fund Advisors. Bryce has been with Dimensional since 1998. He was most recently Dimensional's Head of U.S. Financial Advisor Services, which helped advisory firms design more effective investments, messaging, and business strategies. Before joining Dimensional, Bryce was a secondary markets analyst for Provident Funding. Bryce talks with Rusty about the value Dimensional Fund Advisors place on advisors, why the firm introduces exchange-rated funds in addition to their mutual funds, and the motivation behind Dimensional's recent introduction of ETF models. Key Takeaways [02:11] - An overview of Bryce's personal and professional background. [04:25] - How Bryce got started at Dimensional Fund Advisors. [06:29] - The value Dimensional Fund Advisors places on advisors. [10:10] - A historical overview of Dimensional Fund Advisors and its value factors. [15:54] - Are value investments finally on the rise? [20:10] - Why Dimensional introduces exchange-rated funds in addition to their mutual funds. [23:53] - The motivation behind Dimensional's recent introduction of ETF models. [29:03] - How investors and advisors can access Dimensional's material resources. [31:10] - Bryce's perspective on what makes a good financial advisor. [34:38] - Some of the people Bryce is grateful to on a professional level. [38:25] - How Bryce maintains his physical and mental well-being. [41:04] - Content recommendation from Bryce.   Quotes [07:11] - "We strongly believe advisors are a linchpin in the process. Advisors do a good job increasing the odds of success for investors." ~ Bryce Skaff [27:53] - "As an industry, we default to complexity. When in reality, it's often the simplest of concepts that make the biggest impact on investors." ~ Bryce Skaff [33:29] - "Great advisors are doing the right thing because they understand the truth and are willing to embrace it and give that dose of reality to the investor." ~ Bryce Skaff   Links  Bryce Skaff on LinkedIn Dimensional Fund Advisors Good Vibes by Jahboy The Surf Conservation Partnership The University of Chicago Wells Fargo Vanguard Atomic Habits by James Clear Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts   1735-OPS-9/22/2022