Gaining Perspective

A new report from Bain highlighted a key statistic: Individual investors hold roughly 50% of the estimated near-$300 trillion of global assets under management. Yet those same investors hold just 16% of AUM in alternative investment funds. Some HNW investors are seeking to diversify away from public equities to safeguard their portfolios and are allocating to private market investments through alt...

Principal Financial Group® recently released the results of an extensive survey it conducted asking advisors and employers their expectations for the future of retirement. Among the key trends it identified were an aging workforce with evolving financial planning needs. At the other extreme, Gen Z workers are beginning their careers with investment and planning preferences that differ markedly fro...

My guest today, Harin de Silva, is one of the leaders of the quantitative investing community and the winner of several Graham Dodd Awards for institutional research. He is a member of the Q Group and a pioneer in factor investing. - Here are some additional resources to learn more about Allspring Global Investments: The Allspring website A link to a paper by Harin on volatility Global Long/Short...

The Digital Assets Council of Financial Professionals (DACFP) gives financial professionals the ability to establish expertise in blockchain technology and digital assets through its online self-study program, the Certificate in Blockchain and Digital Assets®, webinars and conferences, video interviews with leaders in the field, the DACFP Yellow Pages and unmatched consulting services. - Here are...

While direct indexing has been a hot topic for the past couple of years, many advisors and investors are still trying to assess what it is, if it's right for them, and where it might fit into their portfolios. Head of Vanguard Personalized Indexing Emily LeStrange works with advisors to understand where direct indexing fits into an advisor's practice – and whether the benefits of direct indexing o...

Model portfolios have become an essential component of virtually every advisor’s investment processes. Models can be constructed to meet investor profiles, including their level of risk tolerance, need for income, or tax considerations. Countless third parties, including many asset managers, offer models. That has led other firms to create model marketplaces, where advisors can research and choose...

Transitioning to the independent RIA business model is the most consequential decision advisors will make in their career. A successful outcome requires choosing the right partner. That means identifying a good cultural fit, the right technology, and an open-architecture platform that affords access to the investment products that best meet a client’s needs. - Here are some additional resources to...

U.S. economic growth has been stable, but investors are worried about the risks of a recession, the ongoing war in Ukraine and now systemic problems in the bank sector, triggered by the failure of Silicon Valley Bank. Equities are certain to highly volatile this year. My guest today is here to discuss how a liquid alternative strategy will participate in upside gains and reduce volatility through...

Ignore short-term market moves and volatility. The biggest investment returns are driven by a handful of outliers in the long run. Growth investing is for patient capital seeking long runways for companies that will ultimately generate outsized returns for investors. Baillie Gifford is uniquely positioned as a global asset manager that is entirely owned by a private partnership. My guest today, St...

Fulcrum Asset Management oversees $6.2 billion in assets. It is headquartered in London and has an office in New York. Like the other executives at Fulcrum Asset Management, Nabeel Abdoula is enthusiastic about the ability of macro fund strategies to deliver results for the clients of advisors during the tough times as well as better economic/market conditions. - Here is a link where you can learn...

Advisors are increasingly using annuities when they determine that it is in their clients’ best interests. They recognize that it is a client’s income – not their wealth – that matters in retirement, and annuities are the only way to provide a longevity-protected income solution. Rising inflation and uncertainty over high market valuations have made the need to secure lifetime income more acute, a...

In the next 10 years, 37% of financial advisors, collectively controlling $10.4 trillion, or 40% of the assets controlled by the advisory profession, are expected to retire. Yet, one in four advisors who expect to transition their business in the next 10 years is unsure of their succession plan. Commonwealth Financial Network’s Matt Chisholm, SVP of RIA services and practice management, is here to...

Clients and prospects are demanding a more flexible, iterative financial planning process that evolves as their financial lives do. That is why my guest today created Elements, a mobile-first, client-centric, financial monitoring platform. Elements builds a one-page financial plan that helps the modern advisor remain in closer, deeper communication with clients as their financial needs shift. It e...

Balancing the needs of your clients with the needs of your advisory business is challenging, but it’s essential to maintaining growth and scale. My guests today will discuss how to navigate the challenges advisors face through phases of growth by identifying opportunities to increase value, drive growth, and boost your firm’s performance. From client segmentation to succession planning to other ke...

Last year, 2022, was very challenging for equities, particularly for growth-equity investing. Today, we’ll be discussing the style headwinds investors faced last year and the outlook for high-quality, large-cap growth investing in 2023. The William Blair Large Cap Growth fund (LCGFX) focuses on growing companies in growing industries – what its team calls structurally advantaged companies – whose...

This year, 2023, markets are poised for performance dispersion among equities (i.e., some stocks will do quite well and some quite poorly). That means it pays for growth and tech equity investors to be selective. We face a challenging economic outlook, from rates to a potential recession, but there are themes will shine within growth and technology. Here to explain how advisors can be more precise...

The asset management industry is infected with buzzwords. Nowhere is that more obvious than in technology. Advisors are confronted with an array of labels like innovation, disruption, AI and deep learning. My guest is here to explain how providers of thematic technology ETFs are abusing industry buzzwords. You will learn how to inspect an ETF to prevent being victimized by “techwashing” – throwing...

Last year, 2022, the 10-year bond yield rose 225 basis points, delivering record losses to bond investors. Equities were not much better, as the S&P lost 18.11% of its value. But this year has been different. The 10-year yield is down 27 basis points, and the S&P 500 is up 6.08%. Here to discuss whether those rallies in stocks and bonds will continue, and how advisors can protect portfolio...

Northern Trust Asset Management (NTAM) is a leading global investment manager with $1 trillion in assets under management. It released “The Risk Report” late last year, which is an aggregated analysis of 280 institutional equity portfolios across the globe. The report revealed six common drivers of unintended investment results. As an investment manager that employs a quantitative risk-aware appro...

Formed in 2005 to serve educational and resource needs of professional business advisors, the Exit Planning Institute is a trendsetter in the field of exit planning for business owners across the globe. It is the only organization that offers the Certified Exit Planning Advisor Program (CEPA) and qualifies for continuing education credits with 12 major professional associations, making it the most...

For the 15 years preceding 2022, asset management was a great business, fueled by near-double-digit AUM growth driven by rising equity and bond markets. But that party ended in 2022, with big losses in the stock market and record losses in the bond market. My guest today is here to discuss what that means for asset managers, advisors, and the consumer who ultimately own mutual funds and ETFs. - He...

RIA merger and acquisition activity had yet another record year, although the year-over-year increase was less steep than prior years. There were 264 transactions in 2022. M&A activity was nearly 10% higher than last year's 241 transactions. But 2022 ended with a slower fourth quarter, 20% below last year's blockbuster Q4 total. We'll get into the details beneath the numbers with David DeVoe i...

Although the latest CPI data showed that inflation is slowing, it is still the number-one concern for clients. Investors are worried about the Fed’s reaction to interest rates, economic turbulence, and a potential recession. My guest today is here to discuss four topics: Why adding low volatility to a portfolio is a defensive mechanism; Where there is opportunity in dividend income, and what eleme...

My guest today is from Ionic Capital Management LLC, a $3.8 billion New York-based alternative asset manager. Ionic uses long volatility, relative value arbitrage, inflation protection, and value equity investment strategies on behalf of private and regulated investment funds. Since its inception in 2006, Ionic has been managing proprietary strategies and customized solutions. The Ionic Inflation...

As investors increasingly seek out more personalized options, many advisors are seeing direct indexing grow in popularity. Direct indexing is a type of separately managed account or SMA, where investors can express their personal values and tax preferences. The personalization and flexibility afforded by an SMA allows advisors the flexibility to manage each client’s tax situation and reflect their...