Podcast
Orion's The Weighing Machine
Hosted by Orion Portfolio Solutions · EN
Orion’s The Weighing Machine How does Orion help financial advisors guide investors toward their financial goals? We provide the services and solutions advisors need to help clients stay invested in balanced portfolios. On Orion’s “The Weighing Machine,” featuring Ben Vaske, BFA, we cut through the market clamor and focus on time-tested principles that help financial advisors and investors reach their long-term financial goals. Each podcast reviews weekly commentary by Orion’s investment team and features a special guest to discuss market headlines.
Wealth Management services are offered by Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. Orion Portfolio Solutions, LLC is a wholly owned subsidiary of Orion Advisor Solutions, Inc. (“Orion”).
Think2perform’s Behavioral Financial Advice program integrates traditional finance practices with psychology and neuroscience to improve emotional competency and decision-making behavior that increases effective usage of the financial plan with clients. To obtain the Behavioral Financial Advisor (BFA) designation, participants must complete a self-directed course, which takes 20-30 hours to complete, and includes a mix of interactive exercises, videos and case studies. To learn more about the BFA, visit https://www.think2perform.com.
0503-OPS-3/4/2024
25episodes
Episodes
Newest firstAll episodes
Dominic Vaccaro of Burlington Capital - The World of Commercial Real Estate Investing
Jun 3, 202500:34:23Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Dominic Vaccaro, President of Real Estate at Burlington Capital. Dominic Vaccaro is President of Real Estate and sits on the Investment Committee of Burlington Capital, the company’s sponsored investment programs and advisor. With 20 years of experience at Burlington Capital, Mr. Vaccaro oversees all of the company’s real estate operations including acquisitions, development and property management. During his tenure at Burlington Capital, he has been involved with the acquisition and/or development of multifamily properties with asset values totaling nearly $3 billion with over 35,000 units. These properties include market rate, affordable, military, veteran, student and senior housing. He has also been primarily responsible for the company’s efforts with public-private partnerships including nine privatized student housing projects with asset values totaling in excess of $180 million and the military housing privatization at Offutt Air Force Base with development costs of $240 million and over 2,000 housing units. He is experienced in the acquisition and development of multifamily properties, including both construction and permanent financing, structuring and issuance of taxable and tax-exempt bonds and the management of portfolios of real estate. Mr. Vaccaro has a B.S. in Business Administration – Finance from Creighton University.Key Takeaways[03:33] - Dominic’s professional background and more on his current role at Burlington Capital[04:21] - What is Burlington Capital’s investment philosophy and what makes it stand out from its peers?[05:27] - How does Dominic define the role of alternatives, and specifically real estate, in a diversified investment portfolio?[06:55] - How large is the asset class of multi-family real estate and how has the perception of this asset class changed over the past decade among institutional and retail investors?[09:11] - What makes multi-family real estate particularly attractive in a long-term asset allocation strategy?[11:50] - How has Dominic’s team at Burlington evolved their approach to multi-family real estate with changing interest rates, demographics etc?[13:10] - A case study that highlights the real world impact, and performance, of a multi-family investment[17:05] - What are some of the ways that multi-family real estate delivers tax efficiency, and when and how are these typically realized by investors?[20:03] - What macro trends are most critical to multi-family performance today?[21:50] - Are there particular demographic or behavioral shifts (e.g. remote work or Gen Z renters) that will shape demand in the years ahead?[23:43] - How has Dominic’s personal investment philosophy evolved over his 20+ years at Burlington Capital?[24:47] - What advice would Dominic give to young professionals who are interested in alternative investments or, specifically, real estate development.[25:57] - What is currently one of Dominic’s favorite investment ideas?Quotes[11:21] - “As you look at multi-family today, there's a certain appeal as values are down 20-25% off their peaks. Given the rise in interest rates, certainly multi-family provides an entry point that, relative to prior highs, provides some opportunities.” ~ Dominic Vaccaro[22:46] - “The two [major changes in multi-family real estate] that always come to mind…for me are, certainly the evolution of the internet, and the need for good access in that regard, but also pets. You know, early in my career, it was very much commonplace [to not allow pets]. Now…it's almost catered heavily to pets and the role pets play…so it’s interesting to see how the demand for multi-family overtime has been influenced by some of these factors and will continue to be.” ~ Dominic VaccaroLinksDominic Vaccaro on LinkedIn“Don’t stop” by Fleetwood MacBurlington CapitalConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 1218-R-25115
Transcribe →Morgan Lemaitre of Park City Wealth Advisors - Building a Legacy Through Intentional Living
May 27, 202500:48:03Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Morgan Lemaitre, Founder & Owner of Park City Wealth Advisors. Morgan Lemaitre, CFP®, founder and owner of Park City Wealth Advisors, boasts over a decade in the financial services industry, however her background goes beyond that. From competitively figure skating on behalf of Team USA to cooking for the King of Thailand on his 80th birthday, Morgan understands life is about absorbing as much knowledge and as many experiences as possible. She brings that same perspective to Park City Wealth Advisors, where she says, “I want my clients to look at each open door as an opportunity to take the next step and see what the other side has to offer.”Key Takeaways[03:41] - Morgan’s diverse background, career highlights and what led her to her current position[08:35] - Learn more about the founding of Park City Wealth Advisors and how it stands out from its peers[14:28] - Why did Morgan start asking her clients “when will you know you’ve made it” and how do her clients typically respond?[19:48] - What is the 1% better philosophy?[25:32] - What are some of the most impactful 1% shifts that Morgan’s seen clients make?[28:27] - How does Morgan approach conversations around purposes, values and impact across generations?[30:52] - What advice does Morgan give to families that are struggling to connect money decisions with their shared values or their intergenerational goals?[32:57] - How does Morgan help gain, and maintain, a long-term perspective, especially during times of market volatility like we are experiencing right now?[36:26] - How has motherhood shifted Morgan’s own definition of “making it?”[41:01] - What are the biggest misconceptions people have about what “living with intention” really means or looks like?[43:02] - What is one daily habit that compounds meaningfully in Morgan’s life?Quotes{15:40] - “...What are you striving for, like when will you know you’ve made it? Because, if we don’t know what we are shooting for, or where we are pointed, we’ll never know when we arrive and we’ll never know to celebrate those moments…[this question gives] me a little insight into what drives people, what they’re really shooting for in life, what lights them up.” ~ Morgan Lemaitre[25:34] - “1% shifts, I believe, are aligned around discipline. So, things that we can easily do in our lives that, when you add them all together, make a huge difference.” ~ Morgan LemaitreLinksMorgan Lemaitre on LinkedIn“Girl on Fire” by Alicia KeysPark City Wealth AdvisorsConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 1206-R-25114
Transcribe →Jeff Brooks of Janus Henderson - King Lear, Tony Soprano and the Lessons of Wealth Transfer
May 20, 202500:58:42Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Jeff Brooks, Senior Wealth Strategist with the Specialist Consulting Group at JanusHenderson Investors. Jeffrey R. Brooks is a Senior Wealth Strategist with the Specialist Consulting Group at Janus Henderson Investors. Jeffrey brings to his role years of experience in both the practice of law as well as the financial services industry, working together with financial advisors and their high-net worth and ultra-high-net worth clients. His knowledge and real-world experience are invaluable for advisors and investors facing hurdles in the quest to achieve tax, wealth transfer, family governance, business succession, and philanthropic goals. Prior to joining the firm in 2023, Jeffery served 24 years in similar roles at Capital Group, UBS, and Merrill/Bank of America. Before entering the financial services industry, he was a partner in a boutique estate planning firm in St. Louis, Missouri, and spent five years clerking for the judge of a probate court. Jeffrey earned both an undergraduate degree in journalism and a law degree from the University of Missouri at Columbia. He holds FINRA Series 7, 63, 66, and 24 securities licenses. Jeffrey and his wife live with their 5 dogs on a small ranch in Southern California.Key Takeaways[05:33] - Jeff’s professional background and career highlights[06:39] - More on Jeff’s current role at Janus Henderson[08:49] - What inspired Jeff to connect cultural icons, like King Lear and Tony Soprano, to modern wealth transfer planning?[09:43] - How do these fictional stories exemplify the complex family dynamics of wealth transfers?[12:26] - What are some of the most common mistakes people make in their wealth transfer plans that mirror the tragic flaws of Tony Soprano, King Lear and other fictional characters?[15:47] - What is “The King Lear Effect” and what are some real life examples of estate battles that illustrate it well?[17:40] - How has the increasing complexity of modern families complicated wealth transfer planning?[19:40] - How can financial advisors facilitate the often difficult conversations necessary for estate planning?[23:40] - In Jeff’s experience is poor technical planning or unaddressed emotional issues a greater threat to familial wealth?[28:35] - What has Jeff found to be effective in helping parents with the concern that their children will be negatively influenced by their inheritance?[31:42] - How should families balance their desire for equitable treatment with the reality that different heirs have different needs and capabilities?[34:51] - What blindspots do financial advisors often have when they guide clients through the wealth transfer planning process?[38:03] - What are some tips to help financial advisors preserve not only financial capital, but everything else?[42:26] - What trends is Jeff seeing in how the next generation approaches inherited wealth compared to previous generations?[44:56] - How are differences in investor preferences among generations going to shape wealth transfers going forward?[46:00] - What role should philanthropy play in a comprehensive wealth transfer strategy?[47:23] - If Jeff could leave our listeners with one actionable strategy to improve their wealth transfer, what would that be?[48:29] - What is currently Jeff’s favorite investment idea?Quotes[11:37] - “I have run into clients who have had a bad experience, most recently, and decided they want to change…their wills and trusts in order to be able to include or exclude certain individuals who may have had an immediate and short-term influence on them. As a lawyer, when that happened, I would counsel them to think carefully. It’s not my job to talk them out of it, but it certainly is my job to put it into perspective and help them see the perspective of good estate planning rather than to make it on an immediate incident.” ~ Jeff Brooks[40:15] - “I love to talk about family governance with clients, because that’s such an amorphous term - it’s very squishy, we don’t know what governance is…The way I describe it and clarify it for my clients is: family governance is setting up a structure to make decisions when your family members don’t agree. They’ve gotta have a contract, or a constitution…or whatever you want to call it, but there’s a rule book because children will not always agree, not with their parents and not with each other, and some wait until after parents are gone to really let those disagreements fly. However, if you have an agreement in writing, you can control a good deal of that conflict.” ~ Jeff BrooksLinksJeff Brooks on LinkedInJanus Henderson Investors“Give it Away” by The Red Hot Chili PeppersConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 1198-R-25114
Transcribe →Dustin Haygood of Aristotle - Value Investing and the Power of Patience
May 13, 202500:55:02Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Dustin Haygood, Client Portfolio Manager at Aristotle Capital Management. Dustin Haygood is a Client Portfolio Manager at Aristotle Capital and a member of the investment team. Prior to joining Aristotle Capital, Dustin was Lead Analyst at Capital Alpha Partners where he performed political risk research for institutional investors. Additionally, during his master’s program, he interned in client service at Pacific Investment Management Company (PIMCO). Beyond his experience in investment management, Dustin previously worked in politics as both a lobbyist and a Capitol Hill staffer. Dustin earned his Bachelor of Arts degree in Political Science from the University of California, San Diego and his MBA in Analytical Finance and Economics from the University of Chicago Booth School of Business. He is a CFA® charterholder. Dustin is also an avid golfer, mediocre skier and a lifelong Los Angeles Dodgers fan.Key Takeaways[03:58] - Dustin’s professional background and more on his current role as a client portfolio manager at Aristotle[07:23] - What is “the power of patience” vital to Aristotle’s investment philosophy?[07:57] - Given Dustin’s unique background, what has surprised him the most about the impact of politics on the markets?[09:51] - What is the foundation for Aristotle’s investment research framework?[12:26] - Could companies, like those in commodity or energy businesses, that are historically capital intensive ever be considered quality?[14:30] - Does Aristotle’s focus on quality and valuation lead to consistent sector overweights and underweights in their portfolio?[16:15] - What gives Aristotle their traction, even if they fly under the radar at times?[18:04] - Does the rise of passive management present opportunities, or challenges, for Dustin’s team?[22:00] - What are Dustin’s thoughts on non-US equities?[24:06] - Are there specific regions or markets that Dustin is particularly excited about right now?[26:42] - Where is Dustin seeing value in Japan? Are there any interesting companies he can talk about?[29:26] - Given the deep, bottom up, fundamental research that Aristotle conducts, how long does it take for them to research companies?[32:30] - What will need to change for value investing to truly make a comeback and are we seeing the early signs of that shift?[35:24] - Do the traditional definitions of value still apply in today’s market?[36:55] - Many large tech companies have moved from growth to potentially value territory. How has this shift affected their approach to technology within value portfolios?[38:20] - In a market dominated by tech-driven narratives, what challenges does Dustin face when explaining value investment strategies to clients?[39:57] - What is currently Dustin’s favorite investment idea?Quotes[11:05] - “Here’s something unique too, valuation itself can’t be a catalyst for us - we don’t invest in a company just because it’s cheap. There have to be catalysts that are observable. So, things that are under the company’s control, that are already underway, that are fundamentally improving that business. So, it could be a business transformation, it could be the company expanding their margins in a meaningful way. Something else that we believe will help close the gap between price and intrinsic value. It needs to be grounded in reality though, so not hype, not a macro guess, not a political outcome.” ~ Dustin Haygood[13:19] - “Quality isn’t static. It’s not just about where a company has been, it’s about where it’s headed…Can a capital intensive company be quality? In our view, yes it absolutely can. It depends on how well the company manages what it can control.” ~ Dustin HaygoodLinksDustin Haygood on LinkedIn“Right Now” by Van HalenAristotle Capital ManagementThe Power of Patience PodcastConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 1217-R-25115
Transcribe →Morris Chen of DoubleLine Capital - Commercial Real Estate
Apr 8, 2025Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Morris Chen, Portfolio Manager at DoubleLine Capital. Mr. Chen joined DoubleLine at its inception in 2009. He is a Portfolio Manager leading the CMBS/CRE Debt Investment team and CRE New Investment Review Group, and is responsible for the oversight and management of all CRE Debt related investments at DoubleLine. Mr. Chen is a permanent member of the Fixed Income Asset Allocation and Structured Products Committees providing valued insight into the CMBS sector. He is also an active participant and speaker at CREFC events. Prior to DoubleLine, Mr. Chen was a Vice President at TCW where he was responsible for CMBS credit analysis and trading from 2004-2009. He holds a BS in Business Administration with concentrations in Business Development and Finance from the University of California, Riverside.Key Takeaways[03:23] - Morris’ professional background and more on his current role at DoubleLine[04:43] - Learn more about DoubleLine Capital and the culture there[06:06] - Why has commercial real estate been in the headlines so much the last couple years?[08:41] - Are the current concerns in commercial real estate largely driven by the work from home movement, or are there other dominant concerns? Also, what other sectors make up commercial real estate aside from office buildings and retail spaces?[10:48] - Big picture, what is currently going on in the current commercial real estate market? How have shifting interest rates and inflation influenced the sector?[12:41] - What other challenges is Morris seeing within commercial real estate?[15:43] - Where is Morris seeing the most attractive opportunities in commercial real estate today? Are there specific sectors they are focusing on?[18:10] - What are the meaningful differences between investing in commercial real estate equity vs. commercial real estate debt?[20:22] - What does Morris think the future of major cities will look like in a post-Covid world?[23:31] - What does DoubleLine think about the possibility of increased inflation and is commercial real estate a good hedge against inflation?[24:55] - How do Commercial Mortgage Backed Securities (CMBS’s) work and how do they fit into an investment portfolio?[27:35] - What is Morris’ outlook on CMBS and what role do they play in the strategy they currently manage?[29:29] - What can Morris share with us about the status of the private real estate debt market?[32:23] - What role should commercial real estate play for individual investors trying to build diversified portfolios?[33:56] - An overview of the DoubleLine commercial real estate fund and its investment strategy. Also, what makes it different from other commercial real estate funds?[36:11] - What guiding principle or philosophy shapes their approach to managing the fund?Quotes[05:03] - “I think [DoubleLine’s] independence brings forth stability, in terms of the portfolio management team as well as investment teams. The employee ownership…dynamic is also important as well. We are very very proud to say that myself, as well as a lot of our sector heads and portfolio managers, together we collectively have worked togethered for essentially our entire careers - well over 20+ years…That also just goes into the performance of our funds. It’s consistent, you don’t have much turnover, and I think that, to me, is paramount when you think about DoubleLine and part of our strengths.” ~ Morris Chen[27:35] - “Yeah, I think the outlook [for CMBS] is still very positive, and it’s more so on a relative value basis. I’m not here to tell you that it’s very very cheap…on its historical viewpoint…[However], I can tell you that in an environment where investors want Fixed Income, but then they look at the yield that a corporate bond is generating, you can actually come to the CMBS market and buy a similar risk, similar rated bond and pick up that excess yield.” ~ Morris ChenLinksMorris Chen LinkedInDoubleLine Capital“Back in Black” by AC/DCConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0760-R-25072
Transcribe →Jeff DeMaso of The Independent Vanguard Adviser - The Inside Scoop Into One of the World’s Largest Funds
Feb 18, 202500:41:00Tap to summarizeToday on the podcast, Rusty and Robyn are joined by Jeff DeMaso - editor and founder of The Independent Vanguard Adviser. Jeff was previously the co-editor and research director of The Independent Adviser for Vanguard Investors. He also served as Portfolio Manager, Director of Research and the interim CIO at Adviser Investments, LLC—a leading investment advisory firm. He has been quoted in Forbes, The Wall Street Journal, Barron’s, InvestmentNews and Kiplinger, to name a few. Citywire named him a Rising Star of manager research in 2019. Jeff graduated magna cum laude from Tufts University with a B.A. in economics in 2006 and holds the Chartered Financial Analyst designation.Key Takeaways[04:32] - Jeff’s professional background and how he transitioned into his full-time role at IVA[07:27] - Learn more about The Independent Vanguard Adviser and how they hope to serve their readers[09:20] - What is Jeff’s market outlook for the coming year?[12:23] - Why does Vanguard have an international slant and does Jeff agree with this approach?[14:26] - What is Jeff’s take on how the typical dollar is invested at Vanguard? How does Jeff think those dollars should be invested?[16:41] - What are some of Jeff’s favorite Vanguard Mutual Funds or ETFs?[18:16] - What are some underutilized Vanguard strategies in Jeff’s opinion?[19:28] - Are there areas where Jeff thinks Vanguard could improve their active management offerings?[20:31] - Why was Vanguard recently in the news regarding the FDIC? Was this important or not important?[24:03] - Outside of Index Funds, what are some of Vanguard’s strengths?[24:06] - What does Jeff think Vanguard could be doing better?[26:07] - What steps could Vanguard take to enhance the client experience?[27:33] - Learn about Vanguard’s new advice and wealth management division and how this can help investors?[29:05] - Over the next 5-10 years what should Vanguard investors be keeping an eye on?[30:57] - In closing, are there any other things that Jeff thinks advisors and investors should know about Vanguard or the broader market?[32:17] - What is currently Jeff’s favorite investment idea?[34:37] - How does Jeff balance the need to be informed and educated with the need to reset and tune out?Quotes[13:27] - “I think that as investors we need to use both our spreadsheets and…common sense a little bit, or think in the real world, and having 40% in non-US is really hard for a lot of US investors. So, I am a big fan and advocate of staying globally diversified, I just think that might be a little bit too much for most people.” ~ Jeff DeMaso[24:16] - “As I alluded to before, I think that more important than active vs. passive is low cost vs. high cost investing, and even if you go active at Vanguard you’re still getting low cost investing.” ~ Jeff DeMasoLinksJeff DeMaso on LinkedInThe Independent Vanguard Adviser“Take the Money and Run” by Steve Miller BandConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0222-R-25024
Transcribe →Sue Thompson of Women in ETFs - The Keys to Leadership and Much More
Feb 11, 202500:53:48Tap to summarizeToday, Rusty and Robyn are joined by Sue Thompson, co-founder of Women in ETFs. Sue Thompson is a strategic, dynamic Financial Services Executive who has distinguished herself by commercializing new trends in the financial services industry. Her expertise spans investment management distribution, strategy, competitive landscape, finance, marketing, digital innovation and technology. Sue's experience at the top 3 ETF issuers gave her a unique perspective to push the envelope in strategy and distribution, ensuring that the firms where she worked were at the forefront of the industry. The organizations benefited from her ability to discern and capitalize on market trends, fostering innovation and driving growth in a competitive landscape. With a focus on collaborative success, she empowered her teams to deliver exceptional results. State Street Global Advisors (SSGA) recruited Sue as Head of Americas Distribution in 2018 to staunch ETF market share losses. Her strategy was to overhaul distribution, focus on lower cost solutions, and deepen client loyalty and advocacy. She defined a clear vision, restructured the distribution teams, leveraged data and established a Client Advisory Council. During her tenure, assets more than doubled, increasing from $500B to over $1 trillion AUM and employee satisfaction also doubled during that time. Prior to her role at SSGA, Sue was a Managing Director at Blackrock, where she led the RIA and Asset Manager teams. She led the firm’s investment in the RIA business and helped the Aladdin business in developing technology solutions for RIAs. During her tenure, the iShares business grew from $350B AUM to over $1 trillion. Sue co-founded Women in ETFs and is currently a board member emeritus. She has also served on the Board of Governors of the Money Management Institute as well as on the Franklin Templeton ETF board. She's been named as one of the most influential women in U.S. Finance by Barron's magazine since the inception of the list in 2020 through 2023.Key Takeaways[03:38] - Sue’s professional background, career highlights and what she’s up to now[06:23] - What were some of the most pivotal moments in Sue’s career and how did they shape the leader she is today?[07:32] - How has Sue’s collaborative approach to leadership evolved over the years?[09:57] - What frameworks or approaches does Sue use when she’s faced with very difficult decisions as a leader?[12:47] - How has the ETF industry evolved since Sue started and what does she see as some of the most significant milestones in its history?[15:56] - What does Sue think are some of the most exciting trends in the ETF space and how does she think financial advisors should position themselves to take advantage of these?[18:13] - What misconceptions or barriers still need to be addressed in the ETF space?[19:42] - What did Sue discover as she searched for a financial advisor and what does her selection process look like?[25:27] - Outside of the traits she has already mentioned, what values does she think are very important and not important for financial advisors?[27:43] - How would Sue describe her investment philosophy and how has this philosophy changed over the years? Also, does Sue believe that a shared philosophy is one of the key factors for selecting the right financial advisor?[34:28] - What advice would Sue give to women aspiring to leadership roles in financial services?[37:22] - How can firms encourage more women financial advisors to join and thrive in this field?[39:08] - What impact does Sue hope to have both on the financial industry as a whole and the individuals she has worked with?[40:50] - What is currently Sue’s favorite investment idea?Quotes[08:01] - “What you find, when you start to work with people, is there are very few people you work with that aren’t trying to do their best. Most people come to work and they try to do their best everyday. So, when they fail, it’s not because they’re necessarily…bad at something…it’s because they have one particular strength that they lean on and they overplay that. ” ~ Sue Thompson[19:58] - “I think that we are so used to, in a post-covid world, things like Zoom calls and video conferencing, that I don’t necessarily think that you need to be co-located with your advisor any longer…So I think that advisors who have got it in their head ‘oh well, my world is Cleveland,’ and they don’t want to think beyond that, I think they do themselves a disservice…[for many people] it’s more important to find the right advisor.” ~ Sue ThompsonLinksSue Thompson on LinkedInWomen in ETFs“Brave” by Sara BareillesConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Wealth Management services offered through Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor.Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0227-R-25027
Transcribe →David Lau of DPL Financial Partners - Why You Should Consider Insurance and Annuities in Your Investment Plans
Feb 4, 202500:54:50Tap to summarizeToday, Rusty and Robyn are joined by David Lau, Founder and CEO at DPL Financial Partners. David Lau is widely recognized as an innovator and disruptor in the financial services industry. He is the Founder and Chief Executive Officer of DPL Financial Partners, a privately held financial services firm that specializes in the development and distribution of low-cost, commission-free insurance and annuity products, as well as technology-driven product discovery tools and education, for Registered Investment Advisors (RIAs) and individual investors. Since going to market in 2018, DPL has worked with 20 leading insurance carriers to bring a range of value-driven, no-load products to its turnkey insurance management platform for advisors, and built an advisor base of more than 10,000 advisors from more than 3,500 RIA firms. Mr. Lau is a sought-after speaker, commentator, and adviser to financial journalists, insurance carriers, RIA firms, fintech providers and others in the financial services and fintech industries. His work has received coverage in The Wall Street Journal, The New York Times, Barron's, CNBC, Wealth Management, and other financial media where he provides insights on industry products, players, trends, and best practices. Mr. Lau serves on the CFP Board's Standards Resource Commission, and also on the Insurance sub-committee, to help develop resources that provide guidance to CFP® professionals and their firms on CFP Board’s new Code of Ethics and Standards of Conduct. Prior to founding DPL, Mr. Lau was Chief Operating Officer of Jefferson National, a leading innovator of tax-advantaged investing strategies for RIAs and fee-based advisors, where he led sales, marketing, technology, operations, and service. During his tenure, Mr. Lau architected the industry’s first flat-fee variable annuity product, Monument Advisor, and grew it into the leading no-load variable annuity in the market. Prior to joining Jefferson National, Mr. Lau was principal and co-founder of The Oysterhouse Group, LLC, a management consulting firm focused on retail delivery of financial services products, where he developed “go-to-market” strategies for key initiatives. His firm’s list of internationally recognized clients included Shinsei Bank, Merrill Lynch and Ace Insurance Group. Earlier, Mr. Lau served as Chief Marketing Officer of E*Trade Bank, and its predecessor TeleBank, the first pure-play internet bank. As the chief marketing strategist, he was responsible for creating and implementing break-through national direct marketing and branding campaigns that defined the online banking category. During Mr. Lau’s six-year tenure deposits at the bank grew from $200M to over $8B, and, at the time of its sale to E*Trade, TeleBank was the largest internet bank worldwide and five times larger than all US competitors combined. Mr. Lau’s early career included various positions at the Jamestown Foundation and the American Trucking Associations. In his leisure time, David enjoys spending time with his family, playing golf and cooking. Additionally, David is a diehard Boston Red Sox fan and an avid Duke basketball fan.Key Takeaways[04:13] - David’s professional highlights and more on his current role at DPL[06:25] - What was the impetus for founding DPL and for the services they provide?[10:35] - What are some of the unique challenges that fee-based advisors face, when it comes to implementing insurance solutions, and how does DPL address them?[13:30] - How does DPL help advisors break away and retain their book of annuities?[15:52] - Why has the growth in insurance and annuities not kept pace with the growth of the rest of the financial services industry?[18:11] - How should advisors go about incorporating insurance into their holistic financial plans?[20:17] - What are the behavioral and psychological benefits of using insurance and annuities as strategic tools during periods of market volatility?[24:11] - What kind of trends is David seeing in the adoption of commission free insurance products among registered investment advisors?[26:33] - What role does technology play in simplifying the process of offering insurance products to clients?[28:40] - What are some common misconceptions financial advisors have about annuities or life insurance products?[31:24] - For advisors looking to integrate these commission free insurance products, how do they educate their clients about the benefits of them?[34:03] - What inspired David to create the Advisor Revelations podcast?[36:27] - What feedback has David received on his podcast and how has that shaped its content?[37:56] - For someone who has not yet checked out his podcast, does David have any recommendations for an episode to start with?[39:47] - If David could give one piece of advice to financial advisors looking to grow their practice, what would it be?[41:48] - What is currently David’s favorite investment idea?Quotes[22:25] - “Annuities kind of give…the client a license to spend, because they don’t worry about overspending and outliving their money because they have that guaranteed income stream…they’re still getting a paycheck, and that’s another great behavioral thing.” ~ David Lau[41:13] - “It’s always more expensive to go find the next customer than it is to further monetize your existing ones, and that’s what we can help you do. We can help you further monetize your existing ones, giving them better products, better outcomes and then also your ability to more easily find and attract new clients.” ~ David LauLinksDavid Lau on LinkedInDPL Financial Partners“Here Comes the Sun” by The BeatlesAdvisor Revelations PodcastConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0097-R-25013
Transcribe →Bob Baker of Advanced Asset Management Advisors - An Outlook for 2025
Jan 28, 202500:26:55Tap to summarizeToday, Rusty and Robyn are joined by Bob Baker, President at Advanced Asset Management Advisors. Bob founded Advanced Asset Management Advisors in 1998, with the mission of creating a better client investment experience. Today, he remains heavily involved in carrying that vision forward, overseeing the daily management of the company. Bob received a degree in finance from the Ohio State University. With nearly 30 years in the industry, Bob has wealth of experience in portfolio creation and asset management. Before starting AAMA, he served as Vice President of a large regional investment firm and President of a national advisory group. He oversaw the management of retirement plans and participated in the development, launch, and marketing of load and no-load mutual funds. Bob has also served as a trust officer for the Bank One Trust Company, managing client portfolio investments.Key Takeaways[04:12] - Bob’s professional highlights and more on his current role at AAMA[05:08] - What was their mission when Bob first founded AAMA and how has this played out over the years?[05:45] - Learn about AAMA’s fundamental investment process and how that has, or hasn’t, changed over the years[07:32] - From an investment process standpoint, how does AAMA’s fundamental process flow into the firm’s strategies?[08:18] - What makes working with AAMA different from large brand firms?[09:10] - How has AAMA enhanced its capabilities in recent years?[09:47] - What are the key market trends, challenges and opportunities that Bob sees coming up in 2025?[12:01] - How is Bob putting the inflation data into perspective and how is this view impacting his portfolio positioning, if at all?[13:00] - Over the past couple years, Bob has held a fairly contrarian view of the economy. Has anything changed his view recently?[14:00] - Why have AAMA’s sector weights remained relatively stable in spite of recent volatility?[15:17] - Why has investor sentiment been so bullish? Also, does this impact AAMA’s portfolio decisions or market commentary in any way?[16:06] - Looking ahead at 2025, how does Bob think fiscal and monetary policies might influence investment strategies and market dynamics?[17:06] - What risks are Bob most worried about at the moment?[18:33] - What is currently Bob’s favorite investment idea?[19:55] - How does Bob balance the need to stay informed and educated with the need to take mental space and tune out?Quotes[05:48] - “Well we deploy a fundamental investment process, and it looks at really strictly fundamental valuations in the marketplace. PEs, forecast of earnings, etc. We’re looking basically to overweight undervalued sectors and underweight overvalued sectors, and we do that through a very disciplined process…It’s been a good discipline for us to implement overtime. We’ve not changed it, because again, it keeps us out of a lot of the noise that can sometimes come into a portfolio. ~ Bob Baker[08:21] - “As a boutique firm, we kind of pride ourselves in the process of, if an advisor would like to speak with us they can pick up the phone and call myself, or my partner…and get answers to questions that they would like to have immediately, or quickly. Since those advisors have the opportunity to really talk to the decision makers of the firm, we think that’s a competitive edge vs. some of the other, larger firms on the platform where you’re probably not going to talk to the president or CIO…directly. ~ Bob BakerLinksBob Baker on LinkedInAdvanced Asset Management Advisors“Shake it Off” by Taylor SwiftConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0086-R-250010
Transcribe →Brent Sullivan of Tax Alpha Insider - Should the Tax Tail Wag the Dog?
Jan 21, 202500:40:42Tap to summarizeToday, Rusty and Robyn are joined by This week, Rusty Vanneman and Robyn Murray talk with Brent Sullivan, Founder of Tax Alpha Insider. Brent Sullivan is a taxable investing specialist, blogger and software developer. He graduated from Cornell's Financial Engineering program, worked on PIMCO's trade floor, wrote code for Parametric Portfolio Associates, left to work at Zillow Group in the software observability team and then raised money as a venture-backed founder. Tax Alpha Insider is a blog, newsletter and media platform focused on taxable investing. Brent consults for advisers on taxable investing product marketing and development.Key Takeaways[01:33] - An overview of some of the things we will cover on The Weighing Machine this year.[03:36] - Learn more about Brent’s professional background and how he ended up in his current role[05:26] - What motivated Brent to found Tax Alpha Insider and who is it aimed at?[06:38] - Why does Brent believe that sometimes the tax tail should actually wag the dog?[08:03] - How can financial advisors effectively measure and communicate the value of tax alpha to their clients?[08:56] - What is Direct Indexing, why is it important and why should advisors and investors care about it?[10:13] - What role does technology play in the efficient execution of Direct Indexing strategies and what tools should advisors be looking for?[11:35] - What are the most common pain points for advisors and investors using Direct Indexing and how can these be addressed?[13:53] - When an advisor or investor is shopping for a Direct Indexing provider, what should they be looking for and what questions should they be asking?[15:01] - Are there additional signs of good or bad Direct Indexing shops that people should be on the lookout for?[16:05] - What are Section 351 ETFs, how do they work and what are their potential benefits?[17:47] - Could these signal a tectonic shift for the wealth management industry?[20:41] - How does a 351 ETF differ from an exchange fund? Do they serve the same purpose?[22:06] - If 351 ETFs don’t solve the problem of diversifying single stock risk, what will?[24:58] - Are there any upcoming regulatory or market trends that will affect 351 ETFs that advisors should be aware of?[25:40] - How much should advisors and investors care about AI and how is Brent using it?[28:23] - Are there any other key research insights that Brent would like to cover today?[29:23] - What resources would Brent recommend for advisors looking to learn more about taxable investing?[31:00] - What is currently Brent’s favorite investment idea?Quotes"Direct Indexing is an investment management strategy that favors individual stocks and bonds for portfolio customization. Customization can be broken down into at least two big categories, one of them is risk and one of them is tax…Why should investors or advisors know about this? That’s because it replaces a fund, which I consider practically a sledgehammer in portfolio allocation, with a scalpel. That’s what Direct Indexing does is give you incredible precision both with risk and tax. ” ~ Brent Sullivan"What matters for allocators is that you’re able to rebalance a portfolio tax free. There’s a bunch of legal boxes you have to check, forget about all that stuff [for now]. Imagine that you’re in a situation where you’ve got a portfolio of direct equities and it's grown a lot, and you’re unable to rebalance or tax loss harvest just because you’re so far above cost basis. [However], you might consider rolling the portfolio into an ETF that’s accepting assets in kind. That’s what 351 allows and affords. Again, tons of boxes to check, but that’s the opportunity there…tax free rebalancing. ” ~ Brent SullivanLinksBrent Sullivan on LinkedInTax Alpha Insider“This Must Be the Place” by Talking HeadsConnect with UsMeet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor.Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service.Compliance Code: 0093-R-25013
Transcribe →