Gaining Perspective
392 episodes - English - Latest episode: 8 months ago - ★★★★ - 18 ratingsThis podcast is hosted by Advisor Perspectives, one of the leading publications for financial advisors. Our podcast series brings you short interviews with top thought leaders in financial advice, planning, investments and economics. Each episode focuses on a specific issue facing financial advisors. Listeners will learn the key trends affecting the way they and their competitors operate and the steps advisors can take grow their practices and deliver better service to their clients.
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Episodes
ABLE Accounts for the Disability Community
September 05, 2023 10:00 - 31 minutes - 57.3 MBOne of the hardest parts of planning for our loved ones with disabilities is getting started. It’s overwhelming. Thinking of who will care for your child when you or your partner cannot is not easy. While we realize no one will care for your child like you do, you need to plan for the day when you no longer can. In this session, we talk about one tool that may help with some of the financial responsibilities for supporting your loved one while helping them stay qualified for means-tested b...
The Compelling Opportunity in Small-Cap Stocks
August 24, 2023 10:00 - 18 minutes - 34.2 MBSeveral factors point to why this is an exceptional time to invest in small-cap stocks. Small-cap stocks tend to outperform after inflation peaks and in the aftermath of recessions. Small-cap valuations are at 20-plus-year lows relative to large-cap equities. Earnings revisions for small caps are stabilizing and beginning to outpace those of large caps. The M&A market is recovering, which historically correlates with improved small cap performance. - Here is a link for more information a...
The Future of Private Equity for the RIA Profession
August 17, 2023 10:00 - 31 minutes - 58.5 MBPrivate equity has backed many of the recent acquisitions in the RIA profession. Indeed, approximately 77% of transactions in the first quarter of this year involved private-equity funding. Many of the largest acquirers are backed by PE firms, including Mariner, Carson, Mercer, Focus, Savant, Pathstone and the Wealth Exchange Group. When evaluating a PE-backed acquirer, there are a few things to consider, including possible drawbacks and how it will impact the future of your firm. - Her...
The Strategy Behind Last Year’s Top-Performing Small-Cap Fund
August 10, 2023 10:00 - 23 minutes - 43.9 MBThe SouthernSun Small Cap fund (symbol: SSSIX) is up 13.5% this year, versus 10.33% (as of July 18, 2023) for its Morningstar small-blend peer group. Last year was even more impressive, when it was down only -1.37%, versus its peer group, which was down -16.24%, putting SSSIX in the first percentile of that peer group. It has approximately $400 million in assets and is a highly concentrated portfolio, with only 21 holdings as of March 31, 2023. - Here is a link for more information about...
The Future of Advice is Fee-Based
August 01, 2023 10:00 - 24 minutes - 44 MBGreat things rarely occur within your comfort zone. Earning revenue via commission-based mutual funds or annuities might seem straightforward and familiar, but it isn’t a sustainable way to grow your practice. There’s been a steady trend in the advisory profession to fee-based practices and holistic wealth-management services. But just because this trend is widespread doesn’t mean that transitioning to fee-based models comes without challenges. My guest today, Jen Gloss, will discuss the w...
The Case for Private-Market Investing
July 27, 2023 10:00 - 23 minutes - 42.5 MBHamilton Lane (Nasdaq: HLNE) is one of the largest private-market investment firms globally, with nearly $857 billion in assets under management, providing innovative solutions to institutional and private wealth investors around the world. In this episode, my guest, Steve Brennan, will discuss the private market opportunity for advisors and HNW investors. For financial advisors looking to minimize the impact of public-market volatility on their clients’ portfolios, private equity is a lon...
The All-Weather Approach for an Unpredictable Future
July 25, 2023 10:00 - 28 minutes - 52.1 MBStandpoint is an investment firm focused on providing all-weather investment solutions to U.S. financial advisors. An all-weather approach is an asset allocation methodology that diversifies across geographic regions, asset classes, and investment styles. The goal of this multi-layered diversification is to shield investors from the pitfalls of concentrated investing by relying on thoughtful preparation rather than unreliable predictions. - Here is a link for more information about Stand...
Inside the Latest High-Income ETFs
July 20, 2023 09:00 - 24 minutes - 44.6 MBNEOS is an ETF sponsor, and its ETFs aim to deliver the next evolution of options strategies that seek income as the outcome. Built on decades of research and experience, NEOS ETFs aim to empower investors with portfolio building blocks to provide high monthly income, tax efficiency, and diversification through data-driven options-based ETFs. Today, we’ll be speaking with Garrett Paolella of NEOS investments, to learn more about its suite of ETFs, its potential benefits, and where they may f...
Help Clients Prepare, Not Predict
July 18, 2023 10:00 - 26 minutes - 48.2 MBUncertainty around the direction of inflation, interest rates, and the U.S. economy will continue to drive market volatility. Doug Wolff, the CEO of Security Benefit – a leader in the U.S. retirement industry – is my guest today to offer valuable insight on how to navigate this landscape for the remainder of 2023 and beyond. The traditional 60/40 asset mix is facing several challenges due to that volatility. Both stocks and bonds were battered in 2022, and while both have come back a bit t...
The Trends in Private-Credit Investing
July 13, 2023 04:00 - 35 minutes - 64.2 MBChurchill Asset Management invests in middle-market companies. It is part of Nuveen, and it raises capital from investors through comingled funds, separately managed accounts, business development companies (BDCs) and collateralized loan obligations (CLOs). In February, Nuveen and Churchill announced the launch of PCAP, a BDC that offers individual investors access to private capital investments across the U.S. middle market. My guest today, Alona Gornick, works with advisors who invest in...
New Actively Managed ETF Targets Industrial Technology
June 29, 2023 10:00 - 17 minutes - 32.2 MBSpear Advisors is a fundamental asset manager specializing in industrial technology. My guest today is the founder of Spear. She will explain how investors can do better than passively tracking the broader market. You will hear why adding a thoughtfully managed product to your portfolio can help you capture more upside in the long run. - Here is a link for more information about Spear Advisors: The Spear Advisors website - https://spear-funds.com/ A message from Advisor Perspectives ...
Bond Allocations that Protect Against Inflation
June 22, 2023 09:00 - 28 minutes - 52 MBFew of the advisors who will listen to this podcast have had professional careers that spanned a period of rising interest rates. But rates have been rising, and passive allocations to bonds or stocks cannot be counted on to provide the same results they did for the last 40 years. Given that regime change, my guest today is here to discuss what should be the appropriate allocation to fixed income in a multi-asset portfolio. We will discuss how advisors should think about liquidity in their...
The Advantages of Donor-Advised Funds
June 15, 2023 09:00 - 21 minutes - 39.5 MBSchwab Charitable donors gave $4.7 billion in 2022 despite the difficult economic environment, up 7% from the year before. Schwab Charitable's mission is to increase giving in the U.S. with donor-advised funds and philanthropic resources that make charitable giving tax-smart, simple, and efficient. Here today to talk about how advisors can help support clients’ charitable giving and planning, and the benefits a donor-advised fund provides is Fred Kaynor. - Here is a link for more informa...
The Hidden Benefits of 529 Plans
June 13, 2023 09:00 - 29 minutes - 54.4 MBSaving for college and other educational needs is one of the most pressing financial planning concerns. Investors are looking to their financial advisors for guidance. In this episode, we’re going to look at the role 529 plans play and why they’re so important in improving client outcomes and in supporting practice management. My guest, Leslie Geller, will be talking about the expanded set of educational expenses 529 assets can fund, details of Capital Group’s CollegeAmerica savings plan –...
How to Visualize Your Clients’ Assets and Financial Needs
June 08, 2023 04:00 - 36 minutes - 67.3 MBAsset-Map is a tool for financial professionals to visually map and provide feedback on their client’s financial picture. With better insights into a client’s financial inventory, advisors can help clients identify risks, opportunities and track progress to their financial goals. Adam Holt joins me to discuss Asset-Map and his vision for the future of technology-enabled advice delivery. - Here are some links for more information about Asset-Map: Asset-Map’s company website David Leo’s...
The Case for Non-U.S. Allocations
June 06, 2023 09:00 - 25 minutes - 46.2 MBAt of the start of this year, Rick Pitcairn took on a new position as the chief global strategist at Pitcairn, a 100-year-old multi-family office with $7bn in client assets. In this position, he is focusing on macro-economic trends and is searching for new global initiatives that will add to the firm’s growth. Rick recently journeyed to India where he met with some of the wealthiest local families to discuss multi-generational wealth transfer. He saw that people all around the world want t...
How SmartAsset Connects Advisors to Prospects
June 01, 2023 09:00 - 20 minutes - 38.1 MBAs an advisor-growth solution, SmartAdvisor™ continuously focuses on helping advisors grow their practices. Last month, in April 2023, it acquired DeftSales, a leading prospect engagement company for financial professionals. DeftSales and SmartAsset™ will combine to offer a robust user interface that is fully compliant, including automated campaigns and analytics, which allow advisors to spend more time honing their communications and improving their skills. - Here is a link for more inf...
Size, Value and Factor Exposures Improve Retirement Outcomes
May 30, 2023 09:00 - 34 minutes - 62.4 MBSome of the most common questions clients ask advisors revolve around retirement: How should I save for retirement? Will I have enough money to retire? Will I be able to leave something behind for my children or for philanthropic causes? New research from Dimensional addresses these questions. The study found that investors who tilt towards size, value, and profitability in their equity allocation are likely to enter retirement with significantly more assets, sustain their retirement s...
A New, Low-Cost REIT ETF
May 23, 2023 21:00 - 17 minutes - 32.4 MBMany investors view real estate as an attractive long-term investment opportunity that plays an important role in portfolio diversification. With that in mind, Columbia Threadneedle Investments recently announced the expansion of its exchange-traded fund offerings with the launch of the Columbia Research Enhanced Real Estate ETF (Ticker: CRED). The fund offers investors and allocators an accessible, research-driven way to gain exposure to the real estate asset class. REITS have a history of ...
How to Invest in Innovation
May 18, 2023 09:00 - 23 minutes - 42.3 MBBNY Mellon Investment Management recently launched its latest suite of thematic ETFs, including the BNY Mellon Innovators ETF. It is managed by John Porter, who joins us today to discuss the ETF, what it means to invest in innovation, and why thematics. The BNY Mellon Innovators ETF was created to support innovation across a wide range of industries and sectors, not just technology. It invests in companies that can provide economic benefits, create new jobs, and improve the quality of life...
Robert Sofia on the Trends Reshaping Advisor Marketing
May 16, 2023 08:00 - 36 minutes - 67.7 MBBuilding a marketing presence is essential to the success of an advisory practice. Gone are the days of dinner seminars and cold calling. Today, marketing success requires not just understanding but mastering digital technology – disciplines like search engine optimization, social media and text messaging. To make that challenge more daunting, it must be done at scale and continually adapt to new technology. My guest today is one of the foremost experts on advisor marketing, and he will ...
How to be Heroes in Your Client’s Eyes
May 11, 2023 09:00 - 28 minutes - 51.3 MBAccording to new research from Fidelity, just one in five advisors has an asset-weighted client age under 60. The average firm derives an overwhelming majority of its revenue from older clients, yet advisors have initiated contact with just 13% of their clients’ children. Meanwhile, despite women’s burgeoning share of the wealth pie, financial professionals are missing out on a $14 billion opportunity to serve them via segment-specific experiences, appropriately tailored enablement programs,...
The Behavioral Benefits of Annuities
May 09, 2023 09:00 - 21 minutes - 39.9 MBLast year, 2022, saw record annuity sales across several categories. Now, nearly halfway through 2023, many of the same macro-economic factors that drove sales last year are still present. While it’s too soon to say what 2023 annuity sales will look like, our guest today will share why annuities can be a valuable addition to a retirement strategy, regardless of market and economic conditions. - Here are some links for more information on New York Life’s annuities: New York Life annuitie...
The Power of an Insourced CIO
May 04, 2023 09:00 - 33 minutes - 60.8 MBHelios was founded in 2016 with the goal of equipping advisors with new and relevant tools that could drastically improve their client's asset management experience, expand their firm's margins, and challenge the old-guard legacy providers as well as the emerging robos of Silicon Valley. Chris Shuba identified services that lacked innovation and were too expensive. He and his team created their own service category – the insourced CIO (iCIO), to provide three outcomes for a firm: differentia...
How to Educate "Next-Gen" Clients about Investing
May 02, 2023 09:00 - 32 minutes - 58.9 MBEducating children on basic financial concepts from an early age can set a practice apart while empowering your clients’ children. The benefits of doing so are many, including earning goodwill and trust from parents and providing an opportunity to connect with the “next-gen” investor in early and constructive ways. - Here are some additional resources to learn more about Phillipp and Bento Engine: Bento Engine Website Children & Wealth Release: Bento Engine Launches Children & Weal...
Aaron Klein of Riskalyze on Risk, SVB, and the Future of Advisor Technology
April 27, 2023 09:00 - 37 minutes - 68.5 MBA 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 alternatives. Opto Investments and Riskalyze recently announced a strategic partnership that combi...
Retirement Trends Anticipated by 2030
April 25, 2023 09:00 - 28 minutes - 51.7 MBPrincipal 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 from older generations. Other findings included the anticipated need for personalization, financial...
Minimize Risk and Participate in the Market Upside
April 20, 2023 08:00 - 25 minutes - 47.2 MBMy 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 Equity Fund (AGAZX) - Overview - Allspring Global Investments U.S. Long/Short Equi...
Ric Edelman on the Future of Crypto
April 18, 2023 09:00 - 41 minutes - 76.1 MBThe 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 some additional resources to learn more about Ric and the DACFP: Digital Assets Council of ...
Vanguard's Approach to Direct Indexing
April 13, 2023 09:00 - 26 minutes - 48.1 MBWhile 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 outweigh the challenges. - Here are some additional resources to learn more about Vanguard an...
Model Marketplaces and the Future for TAMP Technology
April 11, 2023 09:00 - 35 minutes - 64.3 MBModel 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 from commercially available model portfolios. My guest today is Lee Andreatta of Advyzon Inve...
How to Evaluate a Platform for RIA Independence
April 05, 2023 09:00 - 24 minutes - 45.2 MBTransitioning 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 learn more about tru Independence: The tru Independence website Amit Dogra on LinkedIn ...
How A Liquid Alt Strategy Defends Against Volatility
April 03, 2023 11:00 - 20 minutes - 37.5 MBU.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 options-based risk management. - Here is a link to the Core Alternative Capital website. I...
The New Landscape for Growth Investing
March 28, 2023 09:00 - 37 minutes - 68.9 MBIgnore 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, Stuart Dunbar, has identified a few technologies that will be important in driving growth in secto...
The Macro Investing Outlook
March 23, 2023 11:00 - 23 minutes - 42.5 MBFulcrum 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 more about Fulcrum Asset Management. Introducing AP Premium! Download and brand thousands...
How to Frame Client Discussions About Lifetime-Income Solutions
March 16, 2023 12:00 - 19 minutes - 35.8 MBAdvisors 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, and rising interest rates have made annuities more affordable. Here to discuss how to help clie...
M&A Trends in 2023
March 09, 2023 12:00 - 32 minutes - 58.8 MBIn 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 today to break down the options and opportunities for advisors looking to grow their practice i...
Breakthrough Technology to Monitor Your Clients' Financial Health
March 08, 2023 12:00 - 30 minutes - 56.4 MBClients 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 encourages better behaviors with clients that promote financial health by displaying digestible p...
How to Position Your Practice for Growth in 2023
March 01, 2023 12:00 - 30 minutes - 54.9 MBBalancing 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 key issues, my guests will identify the key decisions advisors must make to build a sustainable, s...
Why Growth Will Dominate in 2023
February 27, 2023 12:00 - 19 minutes - 36.1 MBLast 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 long-term growth they believe will persist in a variety of economic environments. - Here is ...
The Thematic Outlook for 2023
February 13, 2023 12:00 - 23 minutes - 42.7 MBThis 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 about where to find opportunities to navigate challenging near-term economic conditions, while ...
Beware of Technology Buzzwords
February 10, 2023 12:00 - 39 minutes - 73.2 MBThe 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 buzzword labels on investment products with the goal of improving their marketing appeal but no...
What Drove the Hottest ETF Category in 2022?
February 09, 2023 12:00 - 29 minutes - 53.4 MBLast 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 portfolios from the volatility that we saw last year is Tim Urbanowicz. - Here is a link to the Innovator ET...
The Pervasive Effects of Uncompensated Risks
February 07, 2023 12:00 - 25 minutes - 46.9 MBNorthern 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 approach, NTAM regularly partners with investors and their consultants to provide them with a distinc...
How to Help Clients with Exit Planning
January 26, 2023 12:00 - 24 minutes - 44.9 MBFormed 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 widely endorsed professional exit planning program in the world. - Here is a link to the Ex...
The Post-2022 Asset Management Landscape
January 24, 2023 11:00 - 29 minutes - 53.5 MBFor 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. - Here is a link to the podcast that I did with Neil in June of last year. Join us for Exchang...
M&A Valuations and the Landscape for 2023
January 19, 2023 12:00 - 32 minutes - 59.6 MBRIA 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 in this podcast. I have had the privilege of interviewing David every year around this time, and this...
How to Protect Against Inflation and Slow Growth
January 04, 2023 12:00 - 28 minutes - 52.9 MBAlthough 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 elements to prioritize; What high yield bonds offer as a less risky risk asset; and How to use...
The New Inflation-Protection ETF
December 29, 2022 12:00 - 29 minutes - 53.3 MBMy 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 Protection ETF (CPII) launched at the end of June 2022 and is an actively managed ETF that seeks...
New Research on Tax-Advantaged Direct Indexing
December 20, 2022 12:00 - 24 minutes - 45.7 MBAs 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 values. Dimensional Fund Advisors recently conducted research into the tax management benefits ...