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25 minutes | Jun 22, 2021
Advanced Tax Planning Issues for Advisors
Today’s episode will focus on advanced tax-planning issues. There are a couple of issues that my guest, Steven Jarvis, says will come as a surprise to advisors. The first is qualified disaster retirement plan distributions reported on form 8915-E. This was an election that had to be made for 2020 but Steven keeps running into advisors who are caught off guard that their clients' tax preparers made this election and even more advisors that aren't even checking to see if this applies to their clients. The second is the Augusta Rule. This isn't new but is not widely known. It potentially allows for two weeks of tax-free rental income including business owners being able to rent their personal residence to their business and deduct the expense on the business side without having to include the income on their personal return as taxable.
21 minutes | May 24, 2021
Minisode - The Relevancy of Midstream Energy Today: Income and Total-Return Potential
The global energy landscape has changed dramatically over the last decade, primarily as a result of the significant growth in production and exports of oil and natural gas from the United States. Energy infrastructure companies have played a significant role in facilitating the growth of US energy production and moving the US towards energy independence all while generating fees that support generous dividends. Here to discuss the income opportunity and current tailwinds for the energy infrastructure and MLP space is Stacey Morris.
32 minutes | Jun 15, 2021
Minisode - The Enhancements to Protective Life’s Annuity Products
Earlier this month, Protective Life Corporation announced enhancements to its variable annuity product line, recommitting to the space. We are going to talk about those enhancements, which include the addition of four investment managers for its subaccounts, as many new sub accounts for its commission and fee-based products. Throughout its history, Protective’s variable annuity products have allowed the company to deliver high-quality, trusted support to advisors and their millions of customers across the country. Understanding what financial professionals and clients need when it comes to asset protection and growth to lifetime income and wealth transfer solutions, the company is investing resources to strengthen its variable annuity product suite.
33 minutes | Jun 11, 2021
Staley Cates: Where Value Investors are Finding Opportunities
David Swensen, the manager of Yale’s endowment who passed away earlier this month, wrote the following in his 2005 book Unconventional Success: Southeastern Asset Management (sponsor of the Longleaf Partners mutual-fund family) exemplifies every fundamentally important, investor-friendly characteristic conducive to active-management success. Portfolio managers exhibit the courage to hold concentrated portfolios, to commit substantial funds side by side with shareholders, to limit assets under management, to show sensitivity to tax consequence, to set fees at reasonable levels, and to shut down funds in the face of diminished investment opportunity.
28 minutes | Jun 3, 2021
Minisode - Understanding Financial Wellness
My guest today, Christine D. Moriarty, has more than 25 years of experience coaching individuals, couples and business owners on their finances. Her focus has been the intersection of emotions, behavior and money. She brings deep experience in financial planning to national conferences for planners.
12 minutes | Jun 2, 2021
Minisode - New Research on Retirement Readiness
A just-released study from Allianz Life analyzed what financial advisors consider the most significant threats to their clients’ retirement security. It also looked at the solutions and tools advisors are exploring to help mitigate these risks. One of the key findings was that 88% of advisors said it is more
30 minutes | Jun 1, 2021
CI Financial’s Growth Strategy in the U.S. RIA Market
My guest today is Kurt MacAlpine, the CEO of CI Financial. CI is one of Canada's largest asset and wealth management firms. Over the past 18 months, CI Financial has bought a majority or outright ownership in 13 independent wealth advisory firms across the U.S. That may be the fastest sequence of M&A deals in the history of the wealth management industry. As of today, May 17, CI Financial has $74 billion in wealth management assets. The firm started with zero at the start of 2020.
34 minutes | May 18, 2021
Minisode - Inside a Top-Performing Global ESG Fund
based on environmental, social, and governance (ESG) principles. Virtually every major asset management firm has stepped up their commitment to ESG, along with introducing new funds to meet client demand. But not all ESG products are the same. They vary along important dimensions, such which metrics they use for screening out companies and industries. Here to talk with me today are two people who have been at the forefront of the ESG movement.
21 minutes | May 17, 2021
Leadership Roles for Women in Financial Services
Very few financial service firms are led by women. That is especially true among broker dealer firms. Although there are a handful of female leaders gaining attention for big roles, most top leadership positions in this industry remain in the hands of men. My guest today, Michelle Barry, is the exception. She is the president of Grove Point Financial, a $6 billion broker dealer/RIA, and she is here to talk about her career path and how she came to lead that firm.
42 minutes | May 13, 2021
Rich Pzena on the Outlook for Value Investing
Pzena Investment Management is well-known among financial institutions but is new to the advisor community. The firm was started by Rich Pzena, my guest today, in late 1995. It ended the first quarter of 2021 with $49.2 billion in AUM, which is an all-time high, and it has had positive net flows for the past four years. Rich and I will talk about the global deep value discipline his firm is known for, as well its concentrated, high-active-share strategies, and its bottom-up methodology that is focused on company-level research.
23 minutes | May 12, 2021
How to Improve the Virtual Client Meeting Experience
My guest today, Ryan Sullivan, has written that, in crisis moments, the “pros” are “active.” If a client hasn’t called you, don’t assume they are not concerned. If they get the sense you’re avoiding contacting them, they may reach out to another financial professional for help. But in-person meetings have been ill-advised and phone calls don’t provide the level of connection clients need. Virtual meeting technology is a great option for staying in touch with clients, and Ryan is here to share his research on this topic.
20 minutes | Apr 21, 2021
Is “Sales” a Dirty Word for Fiduciaries?
Advisors, particularly those with a fiduciary mindset, want nothing to do with sales. That is understandable, as sales in the world of retail financial advice has caused a lot of harm. We need to look no further than the almost daily accounts of Ponzi schemes and fraudulent tactics that have deprived too many Americans of their life savings. But growth requires business development, marketing, promotion and … yes … sales. Here to talk about sales, why it has been labeled a dirty word, and how to redefine sales and make it work in a fiduciary context is Shauna Mace of Inspire Growth.
48 minutes | Apr 15, 2021
Navigating the Inflection Points as an Advisor Practice Grows
As an advisor firm grows, it will face a series of inflection points: when it transitions from a solo practitioner to a more leveraged business model; as it moves from a co-operative practice to an ensemble; and in the transition from a multi-advisor firm to a large-scale enterprise. Here to talk about those inflection points at the unique challenges they present is Kenton Shirk.
41 minutes | Apr 13, 2021
A Debate on Whether RIAs Should Use Annuities in Retirement Plans
One of the most contentious topics among RIAs is whether to recommend annuities. While many will recommend a single-premium immediate annuity (a SPIA) or a deferred-income annuity (a DIA), those products represent only a small fraction of annuity sales. We are here to talk about whether RIAs should use the other 95% of annuity products for their clients in their retirement plans – specifically variable annuities, equity-indexed annuities and other related products. Our discussion will take the form of an informal debate on the following proposition, “Resolved: Annuities should play a prominent role in most retirement plans.”
23 minutes | Apr 9, 2021
Minisode -Investing in the Post-Pandemic Economy
The three-decade bull market in bonds may finally be over. Since the start of this year, the yield on the 10-year Treasury bond has risen 70 basis points. Since its low in August of last year, it has risen 111 basis points. The fear of inflation has been a key driver, fueled by a rapidly rising federal deficit and stimulus checks that will soon be in the wallets of American consumers. Here to discuss what that means for advisors and more importantly for your clients’ portfolios is Simeon Hyman of ProShares.
29 minutes | Apr 1, 2021
Minisode - Mass Personalization is Coming to the Advisory Profession
What if you could have an indexed portfolio tailored to personal priorities such as ESG that was highly tax efficient? My guests today, J. Womack and Erich Holland, will discuss how that is now possible, and how mass personalization like this is pivotal for advisor growth in an increasingly digital and personal world.
19 minutes | Mar 30, 2021
The Case for a Low-Volatility, High-Quality Strategy
One of the most widely studied aspects of the capital markets is the low-volatility anomaly. It is the fact that low-volatility stocks have achieved higher performance than what theory predicts. My guest today, Dan Waldron, oversees one of the most popular ETFs based on that strategy. He is here to talk about how a low-volatility and high-quality strategy will achieve superior returns over time.
36 minutes | Mar 29, 2021
Diversity and Inclusion in the Asset Management Industry and Advisory Profession
Shundrawn Thomas is perhaps the only and certainly one of the few African Americans who leads a global investment firm. He’s been quite outspoken and visible with his views on racism and inequities. Over the last year, he wrote three open letters to civic and business leaders which addressed them in an extremely personal and direct manner. He has also appeared numerous times on television presenting the investment case for gender diversity.
23 minutes | Mar 25, 2021
Introducing Accelerated ETFs™: Designed to double your upside, to a cap, not your downside
Our listeners do not need to be reminded of the lofty valuations in the U.S. equity market. The Shiller CAPE ratio is approximately 35, a value exceeded only at the peak of the dot-com bubble. Some claim those valuations are justified by the low-yield environment. But interest rates are pushing up, and equity prices continue to climb higher and higher. That has left advisors seeking solutions that protect against downside equity risk, but still offer upside opportunity.
29 minutes | Mar 22, 2021
Nationwide’s Sixth Annual Advisor Authority Study – Women’s Retirement
As the COVID-19 pandemic wears on, women investors are more concerned about their finances and feel less prepared than they’ve been in years. Nearly three in four women with investable assets of $100,000 or more said the pandemic has negatively impacted their ability to retire. Ann Bair and Lori Hall present findings from Nationwide’s sixth annual Advisor Authority study, powered by the Nationwide Retirement Institute®, reflecting the responses of more than 2,500 individual investors, advisors and financial professionals.
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