This episode dives into how BetaNXT’s new CEO, Bob Santella, is revolutionizing wealth management with cutting-edge data integration, personalization, and innovative tech solutions.
Topics also discussed:
Bob discusses his plans to drive innovation at BetaNXT, aiming to help clients grow their businesses by expanding product offerings and integrating advanced technology.
He highlights BetaNXT’s new DataXChange initiative with Snowflake, designed to unify data across platforms and enhance security in wealth management.
Major challenges in the wealth management industry, such as data modernization, the rise of AI, and evolving investor needs.
The conversation explores BetaNXT’s approach to personalization, allowing clients to customize and manage wealth data for a more tailored experience.
Looking to the future, Bob anticipates that AI, new investment options, and modular cloud platforms will significantly impact wealth management trends in the coming years.
Today we’re joined by the team at iCapital, a company dedicated to powering the world’s alternative investment marketplace.
We welcome Josh Freeman, Vice President of Research and Due Diligence, and James Costabile, Managing Director and Head of Alternatives Distribution.
In this episode, we explore tax-efficient strategies to help investors and advisors navigate year-end planning and manage capital gains more effectively.
Topics discussed:
Tax-efficient strategies for investors, focusing on year-end planning, managing capital gains, and using tools like 1031 exchanges and Qualified Opportunity Zones (QOZ).
iCapital connects asset managers, issuers, and wealth managers to offer alternative investments such as structured products and annuities, supporting advisors with research and expertise.
Delaware Statutory Trusts (DSTs) offer a 1031 alternative, providing passive real estate investment opportunities and reducing property management burdens for investors.
The 721 UPREIT allows investors to exchange DST ownership for REIT units, maintaining 1031 benefits but limiting further exchanges, making it ideal for long-term passive exposure.
Advisors should tailor strategies to client preferences: active owners may prefer traditional 1031s, passive owners may opt for DSTs, and passive investors could benefit from the 721 UPREIT.
QOZ funds provide tax deferral and potential tax-free gains after 10 years.
To learn more about the potential tax benefits of 1031 Exchanges and Opportunity Zones, iCapital is hosting a CE-credited webinar with Ares and Griffin Capital Wednesday, October 30th from 4-5pm ET. Register here: https://learn.icapital.com/tax-strategies-webinar
Jim Dickson is the Founding Partner and CEO of Elevation Point. Elevation Point partners with financial advisors and independent RIAs, offering strategic guidance and resources to accelerate business growth.
In this podcast, Jim and Doug discuss Elevation Point and their unique approach as an accelerator rather than an aggregator in the wealth management industry.
Topics also discussed:
Elevation Point’s offerings of minority stake partnerships to help advisors and RIAs grow without selling their entire business.
Their acquisition of Mount Yale Capital Group enables them to provide operational, compliance, and investment services, scaling faster by integrating established systems.
How they serve breakaway advisors seeking independence and RIAs who want to focus more on clients by offloading operational burdens.
Elevation Point differentiating itself as an accelerator, offering tools, technology, and services without forcing firms to change their successful models.
Future plans including more acquisitions and expanding exclusive investment opportunities through their Alt 62 platform.
Kingswood U.S. recently announced the successful partnership of the Nashville, Tennessee-based Eudaimonia Partners and Eudaimonia Advisors (Collectively known as “Eudaimonia”).
Additionally, it entered a strategic alliance with Eudaimonia Asset Management, a turnkey asset management-based RIA. The three RIAs under the Eudaimonia Group collectively represent more than $1 billion in total client assets.
To discuss this new partnership, we welcome, Mike Nessim, CEO and Managing Partner of Kingswood U.S., Jaime Golden, President of Acquisitions at Kingswood U.S., and John Goodson, Founder & Partner of Eudaimonia.
Points also covered:
The partnership representing over a billion dollars in client assets, marking a significant milestone in Kingswood’s growth strategy to scale up its RIA.
How the acquisition is larger and more complex than Kingswood’s previous ones, facilitated by established relationships and a shared advisory culture.
The partnership aligning both firms’ values and focusing on supporting financial advisors, making it an ideal fit for Kingswood’s growth strategy.
Eudaimonia’s turnkey asset management platform (TAMP) and how it provides holistic wealth management services, enhancing advisor offerings.
Both firms seeing Nashville as a key growth market, with plans to leverage their partnership for continued expansion across the Southeast and beyond.
WisdomTree works to create a better way to invest, offering a leading product range that offers access to an unparalleled selection of unique and smart exposures.
Kevin Flanagan is the Head of Fixed Income Strategy at WisdomTree, joining us to share expert insights on the shifting yield curve, Federal Reserve rate strategies, and actionable tips for managing fixed-income portfolios in today’s evolving market.
Also discussed:
The phenomenon of an inverted yield curve and its recent movement back to positive territory.
How different segments of the yield curve respond to market expectations for Federal Reserve rate cuts and the complexities in yield curve movements.
The concept of “money in motion,” describing how investors are adjusting their portfolios in response to a new rate regime, particularly by moving from shorter-term to intermediate-term bonds.
WisdomTree’s “barbell strategy,” blending short-term floating-rate notes with longer-term investment-grade bonds to navigate the current rate environment and generate yield.
The re-emergence of fixed income as a key portfolio component, given the higher yield levels compared to the past decade, offering investors more traditional opportunities in bond markets.
Risks that could disrupt the Federal Reserve’s current rate path.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. For a prospectus or, if available, the summary prospectus containing this and other important information about the fund, call 866.909.9473 or visit WisdomTree.com/investments. Read the prospectus or, if available, the summary prospectus carefully before investing.
Yield curve: Graphical Depiction of interest rates on government bonds, with the current yield on the vertical axis and the years to maturity on the horizontal axis.
Consumer Price Index (CPI): A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI are used to assess price changes associated with the cost of living.
There are risks involved with investing, including the possible loss of principal.
USFR risk information: Securities with floating rates can be less sensitive to interest rate changes than securities with fixed interest rates, but may decline in value. Fixed income securities will normally decline in value as interest rates rise. The value of an investment in the Fund may change quickly and without warning in response to issuer or counterparty defaults and changes in the credit ratings of the Fund’s portfolio investments. Due to the investment strategy of this Fund it may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
AGGY risk information: Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. Fixed income investments are also subject to credit risk, the risk that the issuer of a bond will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. Investing in mortgage- and asset-backed securities involves interest rate, credit, valuation, extension and liquidity risks and the risk that payments on the underlying assets are delayed, prepaid, subordinated or defaulted on. Due to the investment strategy of the Fund, it may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
MTGP risk information: Fixed income investments are subject to interest rate risk; their value will normally decline as interest rates rise. In addition, when interest rates fall income may decline. Fixed income investments are also subject to credit risk, the risk that the issuer of an investment will fail to pay interest and principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of that investment to decline. Investing in mortgage- and asset-backed securities involves interest rate, credit, valuation, extension and liquidity risks and the risk that payments on the underlying assets are delayed, prepaid, subordinated or defaulted on. Liquidity risk may result from the lack of an active market, reduced number and capacity of traditional market participants to make a market in fixed income securities, and may be magnified in a rising interest rate environment and/or with respect to particular types of securities, such as securitized credit securities. Non-agency and other securitized debt are subject to heightened risks as compared to agency-backed securities. High yield or “junk” bonds have lower credit ratings and involve a greater risk to principal. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effects of varied economic conditions. Unlike typical exchange-traded funds, the Fund is actively managed using proprietary investment strategies and processes and there can be no guarantee that these strategies and processes will be successful or that the Fund will achieve its investment objective. Due to the investment strategy of the Fund, it may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.
Elias Ghanem is the Global Head of Capgemini Research Institute for Financial Services. Capgemini is a global partner in business and technology transformation, helping organizations accelerate their digital and sustainable transitions for tangible impact on both enterprises and society.
In this podcast, we explore the record-breaking growth of high-net-worth individuals (HNWIs) and the factors contributing to this increase, as outlined in Capgemini’s World Wealth Report.
Also discussed:
Global trends in wealth accumulation, with North America, particularly the U.S., leading the charge, followed by APAC and Europe.
The major shift in asset allocation occurred in 2023, with HNWIs holding unprecedented levels of cash and shifting toward fixed income and real estate as markets stabilize in 2024.
The growing competition wealth management firms face from family offices, especially in serving ultra-high-net-worth individuals (UHNWIs) with over $30 million in investable assets.
The crucial role behavioral finance plays in addressing biases that impact HNWIs’ investment decisions.
The evolving needs of UHNWIs.
Collaboration between banks and family offices being essential, with banks needing to invest in technology to offer personalized and holistic services to remain competitive.
Michelle Arpin Begina is a Senior Partner and Managing Director at Snowden Lane Partners. Snowden Lane is a $13 billion RIA firm providing global independent wealth advice.
In this podcast, Michelle discusses her book Be Good with Money, drawing from her 30-year career to offer insights combining social psychology and financial therapy.
Also discussed:
The inspiration behind the book and its target demographic of those successful in life but struggling with their financial self-perception.
Understanding the deep emotional ties to money that stem from childhood, influencing adult financial behaviors.
The concept of “secrecy bias,” highlighting how the taboo of talking about money can hinder people from achieving their full financial potential.
The book’s aim to help readers better navigate financial challenges by reflecting on their relationship with money and breaking secrecy biases.
Michelle promotes financial psychology, having helped New Jersey become the first state to include it in financial literacy standards for K-12 education.
Matt McCarte is the Managing Director and Head of Wealth Management of Pitcairn: a century-old family office located in suburban Philadelphia with $8.3 billion in assets under advisement.
In this episode, we explore Pitcairn’s approach to wealth management and the strategies behind guiding ultra-high net worth families in preserving their legacy.
Topics Discussed:
The history of Pitcairn and its century-old roots.
The unique shared single-family office model of Pitcairn, emphasizing holistic wealth management with services like investment advisory, estate planning, and family engagement.
The firm’s approach centered on educating families about financial literacy and preserving their legacy across generations, focusing on transparency and personalized estate planning.
Engaging the rising generation within families to ensure a smooth transition of wealth and values.
Pitcairn’s ownership structure, being owned by the Pitcairn family, employees, and a client family, which aligns the firm’s interests closely with those of its clients.
Hiring at Pitcairn focusing on finding employees with both technical expertise and high emotional intelligence, essential for building long-term, trusted relationships with clients.
Jeff Gonyo is the Senior Divisional President of Steward Partners Global Advisory. Steward Partners is an employee-owned, full-service partnership that caters to family, institutional, and multi-generational investors.
In this podcast, Jeff Gonyo discusses the shift to independent advisory models, entrepreneurial freedom, and the firm’s unique equity ownership structure that fosters growth and collaboration.
Also discussed:
The evolving landscape for financial advisors, highlighting the shift from traditional wirehouses to independent advisory models.
The focus Steward Partners has on helping advisors transition to independence with strong infrastructure support, allowing them to manage client assets in diverse ways.
How the firm offers a unique entrepreneurial environment where advisors can pursue creative marketing and business growth strategies, free from the constraints of large parent companies.
The flexible affiliation options Steward Partners provides, including W2 and 1099 models, catering to advisors’ varying needs and goals.
The firm emphasizes a culture of collaboration and alignment, fostering a supportive community where every member’s growth contributes to the overall success of the organization.
The significant growth Steward Partners is poised for, both organically and through acquisitions, with plans to double the size of the business in the coming years.
Eliot Weissberg is the President of The Investors Center, a financial and longevity planning firm that guides clients to discover and leverage their capacity to live and age confidently.
In this podcast, Eliot and hosts, Steve Gresham and Suzanne Schmitt, discuss the importance of longevity planning in financial advising, with insights on building long-term client relationships and the practical strategies for engaging multiple generations in the planning process.
Topics discussed:
The evolution of Weissberg’s practice, focusing on longevity planning as a core aspect of his client service.
Building long-term relationships with clients, starting with a rigorous screening process to ensure compatibility and trust.
Eliot’s practice which prioritizes working with clients who are willing to delegate, as this allows his team to provide the best service by focusing on planning and execution.
Involving the entire family from the start, requiring both spouses to be present in initial meetings and gathering information about their family dynamics to better tailor their financial strategies.
How the financial success of the practice is closely monitored through various metrics, with a focus on profitability per client and efficient systematization of investment management tasks to free up time for deeper client relationships.
Eliot also shares his commitment to supporting his team, ensuring they benefit from the practice’s success, and highlights the importance of capacity management to maintain the high-quality service his clients expect.
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Eliot Weissberg, CFP® is a Branch Manager with Raymond James Financial Services and President of The Investors Center.
He can be reached at 860-677-8808 / 70 E Main St. Ste 5, Avon CT, 06001.
Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC.
Investment advisory services offered through Raymond James Financial Services Advisors, Inc.
The Investors Center is not a registered broker/dealer and is independent of Raymond James Financial Services.
