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The InvestmentNews Podcast
69 minutes | Jul 26, 2021
RIA valuations and 'stuck-flation'
Interview with R.J. Moore — 0:30 - 41:00Background on Private Advisor Group.The increased understanding (and valuations) of RIA firms among investors.How multiples and valuation approaches have shifted.How advisers should think about their own firm’s valuation.Fee compression or lack thereof.The role of private equity and where the endpoint might be in consolidation.Interview with Peter Yi — 41:15-1:07:45The case for transitory inflation and a one-time step-up.The trend in wage growth and its role in inflation.The real trends in inflation and when the economy may get there.Fed targets and what it means for Fed policy.What does the risk scenario for inflation look like?When will the real trend resume?Relevant Article: As inflation gets real, advisers ponder strategiesRelevant Article: How high can RIA valuations go?Guest Bios: R.J. Moore brings over three decades of financial services industry experience and executive leadership to his role as CEO. A passionate advocate for advisers and the end client experience, R.J. has been at the forefront of innovation and transformation across the profession.Peter Yi is director of short-duration fixed income and head of taxable credit research for Northern Trust Asset Management. In this capacity, Peter manages the team responsible for registered money market mutual funds, offshore global cash funds, short-term investment funds, separately managed institutional client mandates and securities lending cash reinvestment. His daily responsibilities are to develop and oversee strategies for the cash management business. Peter also manages the taxable credit research teams within fixed income.
53 minutes | Jul 19, 2021
'Why aren't there more women RIAs?' Carson Group's research into women in the RIA space
Interview with Peggy Chait — 0:30 - 28:15What goes into the U4 form.The degree of disclosure on the U4.How that degree of disclosure interferes with diversity efforts.How much disclosure should potential employers or clients have access to?The role of Finra vs. the role of the employer.Interview with Teri Shepherd — 28:25 - 52:15Carson Group's research on the low number of women RIAs.The sales culture hurdle.The gateways into the industry.Teaming up as a way to solve these challenges.Positive reinforcement of the progress so far.The Bain investment in Carson Group.Related Article: Finra should review Form U4 to help industry diversity: RobinhoodRelated Article: Carson Group Valued at $1 billion in latest dealGuest Bios: Peggy Chait works for Integrated SolutionsTeri Shepherd: As President at Carson Group, Teri focuses on strategic planning and development, financial forecasting and analysis as well as continuous improvements to optimize the client experience. Teri leads the operations, technology, compliance and legal teams that oversee more than 110 adviser firm locations.Teri was the first woman executive to join the Carson Group team. Prior to this, the company she was with comprised only 2% female advisers, and she made it her personal mission to increase that number for Carson Wealth. When Teri joined nearly five years ago, the number of female advisers stood at zero — it has since increased to 40%.
41 minutes | Jul 12, 2021
Kara Murphy's new Kestra role and Blair DuQuesnay on Britney Spears
Guest interview — Kara Murphy 0:20 to 16:05Why Kestra created an investment management division at this time.How Murphy’s first CIO role came about.What types of services the division will be offering advisers Which areas Kestra will be hiring for the new divisionGuest interview — Blair DuQuesnay 16:05 to 39:40 What is a conservatorship and who needs one?Why it’s imperative to do your estate planning early.How the lack of education and financial literacy led to this situation.What should happen to Britney Spears.Related links: Kestra HoldingsRitholtz Wealth ManagementRelated stories: Kestra hires Kara Murphy as CIOBritney Spears’ fight for financial freedom holds lessons for advisersGuest BiosKara Murphy is chief investment officer of Kestra Holdings, a new position that she stepped into in June 2021. Kara and her team provide hands-on support, which includes market commentary and research, guidance on portfolio construction, and a broad array of investment solutions designed to empower financial professionals to serve their clients’ wealth management needs. Kara was most recently chief investment officer and managing director at Goldman Sachs Personal Financial Management, responsible for overseeing client investments.Blair DuQuesnay is a financial adviser and planner with Ritholtz Wealth Management, which focuses on providing long-term investing through a straightforward, uncomplicated, operationally efficient investment program. She's been at the forefront of social media for financial advisers and was recognized as a 2015 40 Under 40 by InvestmentNews.
40 minutes | Jul 6, 2021
Ric Edelman's next move aims to bring advisers into digital assets
Guest Interview – Ric Edelman – 1:10 to 39:35What led to Ric stepping down at Edelman Financial Engines.Why he’s winding down his nearly 30-year-old radio show this fall to create a new show.How blockchain and Bitcoin will become as impactful as the internet for the financial services industry.Where Ric stands on the prospect of a Bitcoin exchange-traded fund after six years of saying it’s on the way.What caused Ric to write a book in four days after the events of 9/11.Related links: Digital Assets Council of Financial ProfessionalsEdelman Financial EnginesGuest Bio Ric Edelman launched Edelman Financial Services in 1987, aiming to create a financial advice firm with a client-centric approach focused on providing financial help to everyday American families. He merged that firm with Financial Engines in 2018 to create Edelman Financial Engines, with $270 billion in assets under management and 340 advisers. He’s also been host of the Ric Edelman Radio Show for more than 29 years. Three years ago he created RIADAC, the RIA Digital Assets Council, to teach financial professionals about blockchain and digital assets.
64 minutes | Jun 28, 2021
Inside Dave Ramsey's shop and Sonya Dreizler on how industry conferences can help diversity
Interview with Bob Smietana — 0:45 – 25:45How Dave Ramsey advertises himself to the religious community. Questions about the management policies that Ramsey applies to his 900 employees.Ramsey’s growth driven by “endorsed local providers” program. ELP provides “red-hot, solid gold” client leads.Mission of getting out of debt became confused during Covid-19. Interview with Sonya Dreizler — 25:46 – 1:04:00 Why financial conference speakers should mimic the nation’s diversity. Dreizler says the industry won’t make progress on diversity if we listen to the same old folks. How to get past excuses and blaming the lack of diversity on a pipeline problem. What led Dreizler to write her “Do Better Series” telling stories of harassment and assault in the financial services industry. Women of color are entering financial services more often, but many are leaving or not moving up.How allies can help the financial services business create a more inclusive industry. Guest BiosBob Smietana is a national reporter for the Religion News Service, which has covered a popular radio host Dave Ramsey, who preaches the gospel of debt-free living. Ramsey, who says he is a born-again Christian, promotes a variety of financial services products, companies and professionals, including financial advisers. Advisers pay an advertising fee to be an endorsed local provider and to be a part of the website directory. Sonya Dreizler is a speaker and writer focused on diversity in the financial services industry. The former CEO of a broker-dealer and RIA, in 2019 Dreizler wrote a series of articles called the “Do Better Series,” describing sexual harassment, assault and discrimination in financial services. Her firm, Solutions with Sonya, offers a diversity and inclusion course for financial professionals.
51 minutes | Jun 21, 2021
Bruce wins a Neal award! Mindy Diamond talks adviser movement, compensation and diversity
Mindy Diamond — 0:30-28:00The pandemic effect on advisers moving.Longer-term trends in adviser movement and the shifting landscape for the wirehouses.Compensation trends.The job search process for advisers, and asking the right questions.Diversity in financial services.Why aren’t there more female RIAs?George Moriarty — 28:45-49:45How the financial advice industry is changing.The role RIAs play in that transition.Preview of the second half of 2021 for InvestmentNews.Pandemic lessons learned for running a business and team.This episode sponsored by Broadridge.Broadridge is a global fintech leader whose infrastructure powers investing, corporate governance & communications. Visit Broadridge.comFor more on retirement planning and strategies for 2021 tune in to Retirement 2021 and beyond webcast OnDemand.Guest BiosMindy Diamond started Diamond Consultants in 1998 with nothing more than a pad, pen and phone, working from the bedroom floor in her home. The business became a “third child” that she nurtured and developed into one of the leading consulting and recruiting firms for financial advisors in the country.Considered by the industry as one of the top thought leaders, she is regularly quoted by national media outlets such as The Wall Street Journal, New York Times and CNBC, as well as industry publications including On Wall Street, Financial Advisor magazine, InvestmentNews and RIABiz. In addition to her weekly blog posts for financial advisors and active social media presence, she has shared her expertise on recruiting and career trends since 2004 in a monthly column for WealthManagement.com and is a contributor to Forbes.com.George Moriarty is the chief content officer at InvestmentNews and is a solid boss to work for.
71 minutes | Jun 14, 2021
Going long with Michael Kitces and Ben Harrison
Interview with Michael Kitces — Niches, fees, brands and RIA valuations — 0:50-41:30Niche practices — what’s behind their rise and salience.Why the old niches are less unique.Subscription fees vs. AUM fees — how they work together, where the industry is heading, and why.What limits the AUM model.Financial advisers’ changing views on Bitcoin and crypto.Moving out of the day-to-day advising, and brand-building in the advisory space.Why RIAs deserve the valuations they’re getting in the merger market.Interview with Ben Harrison — 42:10 Pershing’s realignment and the convergence of different wealth markets.Impact on RIAs.Competitive pressure vs. changing market.The INSITE Conference: virtual vs. hybrid vs. in-person.Support for clients — is it time to go back to the office?The future of custody in a Big Three world.Changes in custodial fee arrangements?This episode sponsored by:Broadridge is a global fintech leader whose infrastructure powers investing, corporate governance & communications. Visit Broadridge.comFor more on retirement planning and strategies for 2021 tune in to Retirement 2021 and beyond webcast OnDemand.Guest BiosMichael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is head of planning strategy for Buckingham Wealth Partners, a private wealth management firm in St. Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.Ben Harrison is a managing director and member of the Executive Committee for Pershing. He is co-head of our wealth solutions segment, which serves wealth-oriented broker-dealers, registered investment advisors and trust companies, and the evolving and converging needs of these clients. Prior to this role, Ben led our RIA custody business and before that, both business development and relationship management for the advisory marketplace.
42 minutes | Jun 7, 2021
Bob Doll's big move and a look at Finra and the SEC
Interview with Bob Doll :30-23:10His move to Crossmark and the value of a smaller firm.Explaining "values-based investing."Where do product and distribution go for Crossmark?The industry pressure on active versus the demand among faith-based investors.Revisiting Bob’s 2021 predictions — value versus growth; interest rates and inflation; GDP and debt; political compromise or lack thereof; eye on geopolitical issues.Interview with Susan Schroeder 23:40-41:00Background at Finra and memorable cases.Reg BI and its potential impact, and how the SEC might use it.The Finra-SEC relationship under the new administration and Reg BI.Expungement reform and the potential for cracking down on rogue brokers.Assessing Robert Cook’s time as Finra CEO and the Finra 360 initiative.The crypto gap.This episode sponsored by:Broadridge is a global fintech leader whose infrastructure powers investing, corporate governance & communications. Visit Broadridge.comGuest BiosBob Doll: Financial services industry veteran with over 40 years of experience. Experienced portfolio manager for large-cap equity strategies, as well as long and long-short equity strategies. Author of weekly, quarterly and annual investment commentaries focusing on key themes and risks driving equity markets, monetary policy and the global economy. Regular guest and contributor to multiple media outlets such as CNBC, Bloomberg TV, Moneywise, and Fox Business News.Susan Schroeder: As the former head of enforcement and management committee member at the Financial Industry Regulatory Authority Inc., Susan Schroeder has deep insight into the priorities and procedures of the regulatory bodies that govern the financial services industry, including the Securities and Exchange Commission, Finra, exchanges and state securities regulators. In addition, Schroeder calls on her extensive experience overseeing thousands of regulatory investigations to assist and advise clients in all aspects of internal investigations, including detecting potential misconduct, complying with reporting obligations and effectively remediating systemic problems.
64 minutes | May 24, 2021
Liz Ann Sonders & Shundrawn Thomas give midyear outlooks
Liz Ann Sonders — Midyear outlook — 0:30 - 38:25 Equities outlook for the rest of the year.Inflation — weighing transitory vs. longer lasting, the right historical comparison, and the Fed's response.Effects of fiscal plans — stimulus vs. taxes — and of the current monetary climate.Portfolio adjustments to deal with inflation.Fixed-income outlook.Crypto outlook.Thoughts on the advent of new traders in the market.The financial services sector's progress on diversity.Shundrawn Thomas — Midyear outlook — 38:30 - 1:02:50 Equities outlook.Where does fixed income fit in?Inflation — transitory inflation vs. longer lasting vs. "stuckflation."Effects of fiscal plans — how taxes may affect the markets.Sustainable investing at Northern Trust.Balancing a focus on diversity with leading the firm, the industry's progress, and what the outlook is.Guest Bios: Liz Ann Sonders: As senior vice president and chief investment strategist at Charles Schwab, Liz Ann has a range of investment strategy responsibilities, from market and economic analysis to investor education, all focused on the individual investor.A keynote speaker at numerous industry conferences, Liz Ann is regularly quoted in financial publications including The Wall Street Journal, The New York Times, Barron’s, and the Financial Times, and she appears as a regular guest on CNBC, Bloomberg, CNN, Yahoo! Finance and Fox Business News programs. Liz Ann has been named Best Market Strategist by Kiplinger’s Personal Finance and one of SmartMoney magazine’s Power 30. Barron’s has named her to its 100 Most Influential Women in Finance list and Investment Advisor has included her on the IA 25, its list of the 25 most important people in and around the financial advisory profession. Shundrawn Thomas serves as president of Northern Trust Asset Management where his responsibilities include developing long-term strategy, executing operating plans, cultivating client relationships, managing vendor relationships and developing talented professionals. He also serves as a member of the management group for Northern Trust Corp.Previously, Shundrawn served as executive vice president, head of funds and managed accounts. In this capacity he oversaw the development, management and distribution of Northern Funds, Northern Institutional Funds and FlexShares Exchange Traded Funds, as well as the managed accounts practice, which provides investment advisory solutions to clients. Shundrawn also served as president and chief executive of Northern Trust Securities Inc., a wholly owned subsidiary of Northern Trust Corp. Prior to joining the asset management executive team, Shundrawn served as head of corporate strategy for Northern Trust Corp. As a direct report to the chief executive officer, he supported executive management with key strategic planning initiatives. Prior to joining Northern Trust, Shundrawn served as a vice president for Goldman Sachs and held positions in sales, trading and research with Morgan Stanley.
54 minutes | May 17, 2021
The autistic adviser: Andrew Komarow and his niche firm plan for those on the spectrum
Guest Interview - Andrew Komarow - autistic adviser - 0:30-25:30How Andrew came to start the firm.The extra aspects of working with autistic or special-needs families as an adviser.Hiring to work with that client base.What bias looks like from an autistic adviser’s perspective.Working with the autistic community as an outsider.Guest Interview - Kevin Keller - CFP Board - 26:30-53:15Turning the CFP into the standard.Changing age mix in the CFP world and the pandemic effect.Are there too many designations?How do we clean this up?Trends in the profession and industry — hiring at the big firms, the holistic approach.The questions over the right fee-based model.Submit to the Adviser Podcast Awards here! https://marketing.ficommpartners.com/advisor-podcast-awardsGuest BiosAndrew Komarow understands the difficulty and stigma that many individuals with special needs face. Having received his autism spectrum disorder diagnosis as an adult, many questions about the struggles he had growing up, and as a young adult, were answered. Through this experience, Andrew knew that he wanted to do something to work with the special needs community to provide answers and security in the financial world.Andrew is the Founder of Planning Across the Spectrum and specializes in helping any self-advocating client or family with autism and intellectual disabilities.Kevin Keller is Chief Executive Officer of CFP Board, the professional body for personal financial planners in the U.S. Under his leadership, CFP Board is pursuing ambitious goals to:Growing Awareness of CFP certification as the recognized standard for competent and ethical financial planners and of financial planning as an attractive career choice;Expand Access to competent and ethical financial planning by increasing the number and diversity of CFP professionals and delivery of pro bono financial advice to underserved communities;Assure Accountability by holding CFP professionals to rigorous standards, recognition of financial planning as a profession, and effective oversight of financial planners;Serve as the respected Authority for the profession by setting standards, certifying financial planners and by advancing the Center for Financial Planning.
41 minutes | May 10, 2021
Death and taxes. Biden's bold plans and impact on taxes
Mark Schoeff - Politics and President Biden’s Tax Plan - 1:00-20:30Biden tax plans and the ensuing adviser/client obsession around planningFinancial advisers’ take on the plansA sign of changing demographics among the adviser community?Possible effects - The inflation risk and hastening M&A activity in the RIA sectorNico Marais - 21:00-40:45Benefits of private equity ownershipHow Reverence works with its firmsPlans for WFAM - Rebranding? ETFs? Work from home vs. return to office?How the future WFAM fits into the marketCover Story: Heeding tax winds, advisers chart new financial tactics for clientsGuest Bio: Nico Marais is CEO of Wells Fargo Asset Management (WFAM). Nico leads a team of more than 1,400 including more than 400 investment professionals, and offices around the world. He serves as a member of the Wells Fargo Wealth & Investment Management (WIM) Operating Committee and is based in San Francisco.
45 minutes | May 3, 2021
Advisers cautious on crypto; FPA externships 1 year later
Hannah Moore — Internships/Externships — 1:30-28:40How the new "externship" program works.What participants receive at the end.What financial advisers get out of participation.The cost of the program and the future of the program.The accountability element of the program.Hannah’s podcast.Nicole Casperson and Sean Allocca - Bitcoin and Tech — 28:45-43:55Bitcoin story — ongoing concerns from advisers about crypto.The disconnect between clients' interest and advisers' willingness to invest in crypto.The FOMO around Bitcoin’s moves.This week’s TechStack$ - gamification in the financial advice industry.The challenge in gamifying steady-eddy savings.Bitcoin cover story: Bitcoin bears: Financial advisers still cautious of cryptoGuest Bio: Hannah Moore is a certiﬁed financial planner and certiﬁed financial transitions expert. She is the owner of Guiding Wealth and works one-on-one with each of its clients.Hannah graduated from Baylor University with a degree in Financial Services and Planning and Business Management in 2008. Since then, Hannah has been voted one of D Magazine’s Top Financial Planners in Dallas (from 2014 and running) and was awarded the Young Gun’s Award by the Dallas/Fort Worth Financial Planning Association.
42 minutes | Apr 26, 2021
Annual IBD Report Card & an Earth Day check-in on ESG
Interview with Dennis Gallant on the Annual IBD Report Card — 2:15-29:15The tipping point in IBDs relying on fee-based revenues.The path from commission-based to fee-based.How this affects the wirehouses and how they scale around it.Have IBDs taken on digital marketing?Where do fee-based resources go next?Does the growth protect against fee erosion?Interview with Natalie Kenway on ESG & the Global ESG event — 30:20-40:30The state of ESG investing in Europe.The Global ESG event and how global it gets.The keynote speakers from the UN.ESG Clarity details.Related Article: In face of pandemic, IBDs proved resilient in 2020Guest Bios: Dennis Gallant is a senior analyst for Aite Group’s Wealth Management practice focused on advisor investment/annuity/product distribution and wholesaling, advisory services/managed accounts, financial planning and advice delivery, retirement income, advisor recruitment and retention, annuity and asset management product development, and advisor practice management. He has covered the financial advisor market for over 20 years and has specific expertise regarding independent advisors, including registered investment advisors and independent and insurance-affiliated broker-dealers. Mr. Gallant conducts numerous presentations, speeches, and workshops for client and industry conferences, and is often quoted in industry trade publications including WSJ, InvestmentNews, Financial Advisor Magazine, Financial Planning, Ignites and Institutional Investor.Natalie Kenway: Editor of @ESGclarity, the go-to website for fund selectors with an interest in responsible investments. Passionate about #ESG and #Diversity.
54 minutes | Apr 19, 2021
Risky business! Impacts of rogue brokers on firms and Amy Domini talks ESG
Interview with Ben Edwards 0:00-24:40How to talk about risk in light of Archegos - Agency Cost TheoryThe LGM Preservation case - where could compliance have played a role?The importance of knowing what a fund does and who it’s forLessons from Archegos and similar eventsThe Charles Schwab and Citigroup transfer snafusInterview with Amy Domini 25:45 - 53:20 The ‘overnight’ rise of ESG investingHow Domini came to the sector and the origins of ESG investingConfusion around the profusion of ‘types’ of ESG investingThe crucial role of finance in ESG goalsCOVIDGuest Bios: Benjamin Edwards joined the faculty of the William S. Boyd School of Law in 2017. He researches and writes about business and securities law, corporate governance, arbitration and consumer protection. Prior to teaching, Edwards practiced as a securities litigator in the New York office of Skadden Arps Slate Meagher & Flom. At Skadden, he represented clients in complex civil litigation, including securities class actions arising out of the Madoff Ponzi scheme and litigation arising out of the 2008 financial crisis.Amy Domini: A prolific author, entrepreneur and thought leader, Domini is known around the world for her pioneering work in SRI, shareholder advocacy and impact investing. She founded the Domini 400 Social Index, one of the first socially responsible investing indices.
30 minutes | Apr 12, 2021
Pooled employer plans
The role of pooled employer plans in the retirement landscapeWho uses these plans?The stakes for the roll-out of pooled employer plansRole of and impact on retirement plan advisersHow acute is the savings crisis and what role will governments play in addressing it?Consolidation in the retirement plan adviser sector, and other trends in the spaceThe significance of Fidelity’s move into the PEP spaceRelated Article: Wave of PEPs hits the marketRelated Article: Fidelity launches pooled employer plan
54 minutes | Apr 5, 2021
The benefits of equal-weight index funds and Financial Gym puts a new spin on financial planning
Michael Willis interview - 1:00-21:45The cap-weighted vs. equal-weight distinctionWhat’s holding back adoption of equal-weighted indicesPotential expansion of the equal-weighted approach and the shifting macro dynamicsRelative performance and the nature of how cap-weighted and equal-weighted workThe aha momentShannon McLay of Financial Gym interview - 22:00-53:00The inception for Financial GymApps vs. coaching as a way to teach people about financeFitness as a concept for financial healthThe target audienceHow the gym model worksHow this coexists with the financial advisor model and expands the potential client baseUsing social media and online ‘gyms’ in the businessGuest Bios:Michael Willis has worked in the Wall Street industry for the past 25 years. He is the lead portfolio manager for INDEX FUNDS and previously worked for UBS, Paine Webber and Smith Barney. Mike enjoys turning big ideas into reality.Shannon McLay graduated cum laude with a degree in Business from Wake Forest University in 2000 and has since worked in financial services for the last 17 years. Her experience is in institutional sales, retail sales, hedge fund sales and management. She is the author of "Train Your Way To Financial Fitness" and her own blog, Financially Blonde, as well as being a contributor to AOL, LifeHacker, Huffington Post, US News & World Reports, Budgets Are Sexy, Frugal Rules and others. Shannon hosts the award-winning business and investing podcast, Martinis and Your Money – Living a Better Life One Cocktail at a Time, and is dedicated to helping people achieve financial freedom, which is how the Financial Gym came to be.
41 minutes | Mar 29, 2021
'I can't let these people rewrite history.' Susan Antilla on her long crusade to rid Wall Street of sexual harassment. Plus CEO Christine Shaw joins the pod
Interview with Susan Antilla – 0:00-28:15The story on her initial reporting/first book and the issues in the industryAre we getting any better in financial services?What explains the RIA diversity issues?High-profile success storiesThe power of the iPhone for shining a light on harassmentDistinction between the biggest firms and smaller outfits like hedge funds or private equityThe role of mandatory arbitrationInterview with Christine Shaw – 28:50-40:20Origins of Her Success MattersHow women’s place in the financial services workplace has evolved over recent decadesThe InvestmentNews efforts on this front and how they’ve adapted to the pandemic environmentIndividuals vs. companies as ways to address these issuesHer Success Matters PodcastGuest Bio: Susan Antilla is an award-winning investigative journalist who has been a financial columnist at The New York Times, Bloomberg, TheStreet and USA Today. She is author of the #MeToo book on sexual harassment on Wall Street: Tales From the Boom-Boom Room: The Landmark Legal Battles That Exposed Wall Street’s Shocking Culture of Sexual Harassment. The New York Observer called the book “a work of compelling Wall Street anthropology.”
36 minutes | Mar 22, 2021
'ESG investing is just investing.' Erika Karp's straight talk on ESG and a chat about SPACs.
Interview with Erika Karp about ESG Investing — 00:15-20:15ESG investing is just investingRegulatory outlook for ESG and the opening up of retirement plans to ESGThe risk of greenwashingThe challenges of increasing ESG popularityImpact investing vs. other ESG investingWhen will we reach full adoption?Interview with Nicole Casperson on SPACs - 20:45-35:10The rise of SPACsWhat’s in it for celebrities promoting SPACs?High valuations in SPACsAny impact on advisersRelated Article: ESG investing is just investingRelated Article: Pathstone acquires $1.1 billion RIAGuest Bio: Erika Karp is the chief impact officer at Pathstone. She joins the Pathstone team from Cornerstone Capital Group, the sustainable and impact investment advisory firm she founded in 2013, which was acquired by Pathstone earlier this year.Erika founded Cornerstone Capital Group to bring the disciplines of finance, economics and sustainability to bear in pursuit of a more regenerative and inclusive form of capitalism. Over the course of her 25-plus years on Wall Street, she developed a deep belief in environmental, social and governance analysis as a critical input to investment decision-making.
39 minutes | Mar 15, 2021
40 years in the making: The final SEC rule on adviser marketing
Kurt Wolfe interview — 1:30-23:00The long-awaited change to the RIA marketing rule — starting the clock on complianceWhat is allowed under the new guidelines — principles-based approachFINRA vs. the SEC and brokers vs. advisersOpen questions around remaining restrictionsEffect of change in SEC ChairHow industry consolidation might affect complianceChuck Failla interview — 24:00-37:30What set Chuck on the path to breaking awayWhat the RIA event will offerThe challenges that come with setting up an RIA businessBrokerage house paranoia and the move to custodial business as a fallbackReceive a 20% discount on your RIA Summit registration using the code RIA20. Register at: https://investmentnews.eventscase.com/EN/RIASummit/Agenda Guest Bio: Clients call on Kurt Wolfe when facing complex internal investigations and government enforcement inquiries. A trusted adviser, Kurt is known for delivering tailored, practical advice on securities regulatory and enforcement matters.Guest Bio: Chuck has been a financial advisor for more than 25 years. He started in the early 90s as a "cold calling cowboy" in NYC selling individual stocks. As he built his book, he always planned to go independent and did so in 1999 by opening an independent branch of Raymond James Financial. At that time, Chuck earned his CFP® designation and transitioned from individual stock picking to financial planning and asset allocating using mutual funds and SMAs. Chuck's practice evolved into what is today Sovereign Financial Group, Inc., an SEC registered RIA.With offices and advisors in Connecticut, New York and Pennsylvania, Sovereign is one of the fastest growing, independently owned RIAs in the North East.Chuck is also the Director of Sovereign Advisor Solutions (SAS)-- a division of Sovereign Financial Group, Inc. SAS helps advisors transition to RIA by offering a comprehensive plug and play solution for going independent.Chuck's ties to the financial planning community run deep. He currently serves on the Board of Directors for the FPA of Connecticut and Chairs their Pro Bono / Public Outreach Committee.Chuck received his degree in Finance from The University of Connecticut and completed his coursework for the CFP® certification with The American College. He resides in Connecticut with his wife, two children, black lab and cats. In his spare time, he enjoys all things outdoors -- on the weekends you will find him with his family hiking, camping, skiing, boating or just enjoying the trees while grilling in the backyard.
42 minutes | Mar 8, 2021
'Our research consisted of dime bags, back in the day.' Getting serious about cannabis investing and RIA roll-ups
1:30 - 26:00 Nathan Parkins interview on cannabis marketBackground on the legalization drive and the subsequent investing opportunityDistinctions between marijuana, hemp and CBDHow to invest, and the limitations or challengesPicks and shovels in the cannabis industryOutlook for the industry from a tax perspectiveWhat do client conversations look like?26:00-41:20 Discussion of the RIA roll-up marketWhere did this roll-up pattern start?How the current buying patterns match to the original eraThe driver behind all the buying and whether it can lastPressure on valuationsWhere this trend might goRelated Article: Is it high time to invest in cannabis?Related Cover Article: The RIA roll-up market has seen a decade of explosionRelated Video: Cannabis investments soaring with Democrats at the helmGuest Bio: Nathan Parkins is an ambitious, high-energy business professional with extensive experience in business operations, sales strategy and financial reporting and modeling. Particularly interested in leadership roles focused on business planning and strategy, driving efficiency through process reengineering and well run operations. Passionate about technology, complex problems within sales, finance and business strategy at both levels. Specialties include strategic planning and analysis, financial modeling and project management, forecasting and budgeting.
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