Tag Archives: #DougHeikkinen

Episode 234 – The Blueprint for Tomorrow’s Investors with Bob Santella

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , , ,

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.

 

Resources: 

BetaNXT

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Episode 231 – Kingswood’s Billion-Dollar Partnership with Eudaimonia with Mike Nessim, Jaime Golden, & John Goodson

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , , ,

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.

 

Resources: 

Kingswood U.S.

Eudaimonia Group

 

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Episode 229 – What’s Driving Record Highs for HNWIs? with Elias Ghanem

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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.

 

Resources: 

Capgemini

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Episode 227 – Inside a Century of Wealth Stewardship with Matt McCarte

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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.

 

Resources: 

Pitcairn

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Episode 226 – How Hybrid RIAs Can Position Themselves for the Future and Attract Top Talent with Jeff Gonyo

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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.

 

Resources: 

Steward Partners

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Episode 224 – Why Marketing is Crucial for Advisors Seeking Practice Growth with Greg Banasz

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Greg Banasz is the Managing Director, founding partner, and Chief Marketing Officer at Steward Partners. Steward Partners is an employee-owned, full-service partnership that caters to family, institutional, and multi-generational investors.  

In this podcast, Greg and Doug discussed the key factors contributing to Steward Partners’ success, as well as customization and flexibility in creating effective marketing strategies for financial advisors.

Also discussed:

  • The focus Steward Partners has on independence, culture, and giving everyone a voice – the principles that have guided them for the past decade.
  • The firm’s growth from 12 people to 550, maintaining its core values and building a supportive culture.
  • Advisors at Steward Partners benefitting from customizable marketing resources, digital tools, and a strong online presence.
  • How marketing strategies should be tailored to individual advisor goals, whether it’s improving digital presence or engaging in media outreach.
  • The continuous evolution of Steward Partners, recently becoming a multi-chassis platform and incorporating next-gen digital tools for tracking and marketing.

 

Resources: 

Steward Partners

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Episode 223 – HR’s Crucial Role of Cultivating a Strong and Enduring Company Culture with Kirstie Eustace

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Kirstie Eustace is the Chief Human Resource Officer at 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, Kirstie discusses the evolution of the HR profession, the crucial role of cultivating a strong and enduring company culture, and her personal experiences and growth within the firm.

Also discussed:

  • The transformation of HR from tactical to strategic, emphasizing its role in shaping organizational culture and leadership.
  • How she joined Steward Partners to take a bet on herself, finding the firm to be exactly as represented by its founders.
  • The evolution of Kirstie’s role from handling everything herself to leading a specialized team.
  • The importance of maintaining a strong company culture and ensuring it transcends throughout the organization.
  • The culture at Steward Partners, anchored in partnership and ownership, which has evolved but remains core.
  • Kirstie’s focus on the future of the firm, emphasizing growth, scalability, and preserving culture.

 

Resources: 

Steward Partners

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Episode 222 – Inside the Decision to Become a Board Member of a Newly Developed Firm with Janet Robinson

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Janet Robinson is a Board Member for Steward Partners. Steward Partners is an employee-owned, full-service partnership that caters to family, institutional, and multi-generational investors.

In this podcast, Janet shares her journalistic background as CEO of The New York Times Company, highlighting the commitment to quality journalism and the importance of culture and values in a growing media company. She also explains what attracted her to Steward Partners, highlighting her desire to be part of a culture that prioritizes partnership and high performance.

Also discussed:

  • Janet’s career transitioning from a public school teacher to a media executive at The New York Times Company, driven by her passion for publishing, media, and digital formats.
  • The Times’ commitment to quality journalism and integrity which was both an attraction and a core value.
  • Challenges faced with the digital shift and introducing a pay model.
  • Concerns about declining media standards, stressing the importance of factual reporting and education.
  • Joining the Steward Partners board because of their unique business model and experienced leadership, valuing their culture of partnership and high performance.
  • How maintaining founding values and providing quality journalism are essential for media companies’ success in today’s world.

 

Resources: 

Steward Partners

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Episode 221 – Global Markets: Why Japan and India Are Standing Out with Jeremy Schwartz

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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.

In this podcast, we are joined by Jeremy Schwartz,  the Global Chief Investment Officer at WisdomTree. Jeremy and Doug discuss international investment opportunities, with a focus on the promising markets of Japan and India, and strategies to effectively navigate and hedge risks in these regions.

They also discussed:

  • Japan and India as promising markets, noting their favorable economic fundamentals and significant growth potential.
  • Japan is identified as a strong investment prospect due to the benefits of currency hedging, robust corporate governance, and dividend growth.
  • India stands out with its rapid economic expansion, large population, and pro-business reforms under Prime Minister Modi’s leadership.
  • Schwartz emphasizes the importance of currency hedging to mitigate the risks associated with fluctuating foreign currencies, which can significantly impact investment returns.
  • The pivotal role of technology in driving economic growth in India, especially in enhancing financial inclusion and efficiency.
  • Using ETFs like DXJ for Japan and EPI for India to effectively capture growth opportunities while managing associated risks

 

Resources: 

WisdomTree

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Episode 220 – Model Portfolios for Modern Investing with Kunal Shah

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Kunal Shah is the Managing Director and Head of Private Asset Research and Model Portfolios at the Global FinTech firm – iCapital.

In this podcast, Doug and Kunal explore the rising interest in alternative investments, emphasizing the importance of education, data-driven model portfolios, and technological advancements to simplify and optimize advisor investment strategies.

Topics discussed:

  • The abilities of alternative investments, citing their capabilities to provide lower correlation, enhanced returns, and different income sources compared to traditional public markets.
  • Educational barriers and structural challenges advisors face when incorporating alternative investments.
  • Introduction to a new model portfolio focusing on alternative investments, which provides guidance on allocation among different asset classes such as private equity, private credit, and real assets.
  • The development of the model portfolio which involved extensive data analysis, performance review, and optimization to ensure high risk-adjusted returns through a diversified and balanced approach.
  • The model portfolio availability on the iCapital marketplace for all advisors, with plans to introduce more portfolios targeting different outcomes and allowing for customization based on client needs.
  • How model portfolios simplify the integration of alternative investments, helping advisors meet client demands, diversify portfolios, and potentially attract more clients.
  • Upcoming technology enhancements, including a multi-investment workflow, and the launch of the new portfolio analytics solution, Architect, aimed at making the investment process more efficient and seamless for advisors.

 

Resources: 

iCapital

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