In this episode, we are joined by Grace Salvino, a Wealth Manager at the multi-generational independent RIA firm, Performance Wealth. Grace brings her insights into the misinformation the next generation of clients receives daily, working to promote accurate financial literacy and informed investment decisions.
They also discussed:
The misconception of becoming experts in finance through social media exposure.
Performance Wealth and its emphasis on transparency and hands-on involvement in investment decisions.
Compounding interest and the significance of starting investments early.
Grace’s personal motivation to see clients reach their financial goals at a younger age.
The importance of proactive financial planning, living within one’s means, and investing early.
Communication with next-gen and the need for open dialogues, face-to-face interactions, and personal contact over technology.
Chase Johnson is the Wealth Director of Fiduciary Trust International, a wealth management firm founded with a singular focus on growing and protecting your wealth through generations.
In this podcast, Chase walks us through the changing landscape of college sports with the implementation of NIL (Name, Image, and Likeness) regulations, allowing athletes to profit from their image and endorsements.
They also discussed:
The impact of NIL on athletes, including high-profile examples like Caleb Williams and Shedeur Sanders in commercial deals.
The need for financial guidance in this new era for athletes.
The nature of NIL activities, including endorsement deals, sponsorships, social media promotions, and appearances for college athletes.
Tax implications for NIL income, with a focus on self-employment taxes and the importance of tracking expenses.
The importance of partnering with the right advisors and setting up a financial plan for athletes and their families.
The evolution of athletes into entities themselves, crossing over into business and corporate ventures.
The importance of financial literacy for athletes and their education about building financial security.
The uncertain regulatory landscape and challenges faced by athletes and the NCAA in navigating NIL deals.
Melissa Brandt is the Vice President of Annuity & Funds Management Marketing at Lincoln Financial Group: a firm that has been helping millions of people plan, protect, and retire for over a century.
In this podcast, Melissa and Doug discuss the significant shift of financial assets into the hands of US women. This exposes the need for financial advisors to build trust and assist women in securing their financial futures with solutions pointing to Lincoln Financial Group’s diverse portfolio of protection options.
They also discussed:
Melissa’s personal experiences and lessons learned from the strong women in her family.
The evolution of the relationship with financial aspects across generations, including the need for preparedness in the face of longevity.
The economic strength of women and the opportunities for financial advisors to serve female clients.
The importance of planning for clients to live longer, possibly up to 100 years, and the implications for income planning.
Key attributes women value in financial professionals, emphasizing the need for a personal connection and trust-building.
The three important areas where advisors can assist women and gain their trust.
The significance of income planning and the rising interest amongst women in guaranteed lifetime income strategies.
How Lincoln Financial Group offers a diverse portfolio of protection options, including fixed, indexed, and variable annuities with protected lifetime income, to meet the unique needs of clients.
Annuities are long-term investment products that offer tax-deferred growth, access to a lifetime income stream, and death benefit protection. There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan. All investing involves risk.
Lincoln annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.
In this podcast, Frank Bonanno, Managing Director at StoneCastle Partners, LLC, provides insight into the importance of cash management for advisors and the unique advantages offered by StoneCastle’s solutions.
Topics also discussed:
The resurgence of cash as a favored asset class and how advisors are using it to grow assets under management.
The impact of recent market developments on cash strategies and advisors’ approach to managing client cash.
The factors driving the renewed interest in cash, including competitive interest rates and safety concerns.
The benefits of addressing clients’ held-away cash
The opportunities for advisors to expand their client base by addressing the cash needs of businesses, boards, nonprofits, and other organizations.
How StoneCastle’s approach to cash management, with FDIC-insured deposits and competitive rates, sets it apart from other options available to advisors.
Lincoln Ross sits as the President & CEO of CircleBlack: the all-in-one wealth platform for the relationship-focused advisor.
Lincoln and Doug talk through the challenges RIAs encounter when striving to provide top-notch client experiences while also managing portfolios effectively.
They also discussed:
The common hurdles faced by RIAs throughout their professional journeys.
Real-world examples highlighting how these challenges impact the day-to-day operations and long-term growth of RIAs.
Less talked about pain points, such as managing small accounts, billing complexities, and establishing brand identity, are examined for their significance.
Strategies employed by RIAs to overcome these challenges, including technology adoption and communication methods.
Data security concerns in the financial sector and how RIAs are adapting to shifts in technology to ensure the safeguarding of client data.
Stephen Daffron is the Chairman and Chief Executive Officer of BetaNXT, the next wave in wealth management technology and outsourcing solutions. Join Stephen as he introduces BetaNXT, its offerings, and the challenges they are helping wealth advisors and investors address.
Topics also discussed:
Stephen’s diverse background and his journey and role in co-founding BetaNXT.
The evolving wealth management landscape, emphasizing the need for better tools and real-time data to meet changing client demands.
The challenges faced by wealth advisors, such as time spent on data gathering, are highlighted, along with the potential benefits of real-time data processing.
The acquisition of Mediant, emphasizing its role in enhancing data curation and delivery, ultimately improving the advisor-client experience.
The BetaNXT commitment to investing in firms that align with its mission of elevating the wealth management ecosystem.
Nate Blair is a Partner at Palo Alto Wealth Advisors alongside long time friend, Ryan Schmidt. The two founded Palo Alto Wealth Advisors in order to serve the unique needs of tech professionals as they plan their lives and careers.
In this podcast, Nate discusses the client-focused approach to marketing which Palo Alto Wealth follows, highlighting the short film bios created to promote the firm in a new, creative way.
They also discussed:
Nate’s unconventional path to becoming a financial advisor, transitioning from investment banking and private equity.
Co-founding Palo Alto Wealth Advisors and the importance of trust and alignment in partnerships.
Focusing on a niche clientele and differentiating yourself in a competitive market.
Introducing the unique approach of using short film bios to market the firm.
Collaborating with Drew Forest from Forest Brand Design and the process of creating the authentic and personal videos.
The positive outcomes from the video bios in terms of client acquisition and growth.
Self-selection of clients based on the videos leading to better-fit prospects.
The emphasis on client-focused approaches as the core of their strategy going forward.
In this podcast, Barkley Payne, President and Executive Director of Invest in Others, introduces the firm and its mission to support nonprofits through the involvement of financial professionals who contribute their resources, time, and talents.
They also discussed:
The platform for financial advisors that Invest in Others offers, allowing them to make a positive impact by channeling their philanthropy and volunteerism towards causes they care about.
The awards and grant programs of Invest in Others which recognize and amplify the charitable work carried out by financial advisors and firms within their communities.
The strategic planning Barkley is working on for the organization’s future growth.
The impact of Invest in Others’, where support has led to the growth and betterment of nonprofits serving vulnerable communities.
The selection process for Invest in Others Awards.
Invest in Others program offerings like Charitable Champions and Grants for Good, and applications for these grants open on specific dates.
The upcoming Invest in Others Awards Gala is highlighted, celebrating the charitable work of financial advisors and granting prizes to winners and finalists.
David Gordon is the Senior Vice President of Direct Indexing at Vestmark: a wealthtech firm that provides portfolio management solutions and outsourced services to financial professionals.
In this podcast, Dave and Doug discuss how advisors can use tax management methods to attract and retain clients, ultimately helping them grow their businesses.
They also discussed:
Tax management’s role in client support and advisor-client retention.
The importance of tax efficiency for differentiating advisor services.
Both the challenges and benefits of separately managed accounts (SMAs) for RIAs.
Direct indexing: concept, advantages, and performance.
Personalization through direct indexing for tailored tax outcomes.
The scale challenges in implementing tax-efficient strategies.
Vestmark’s software support for tax-efficient strategies, especially for smaller RIAs.
In this episode, listen as Amna Nawaz, Investment Analyst in the OCIO at CrowdStreet, discusses the world of commercial real estate, uncovering mispriced opportunities, market trends, and the art of navigating a changing economic landscape.
They also discussed:
Mispriced opportunities in the CRE market due to inefficiencies, especially in the face of historically high interest rates.
Examples of mispriced opportunities, like discounted multifamily deals with assumable debt and attractive basis.
The CrowdStreet commercial real estate outlook report, covering major and niche asset classes and key themes.
Geographic considerations focus on caution, favoring primary, affordable, and coastal markets.
Optimism for the future of CRE, highlighting viable deals and creative strategies amid market adjustments.
