Power Your Advice

By AdvisorpediaBusiness Investing Management

Power Your Advice episodes

July 23, 2024Episode 222 – Inside the Decision to Become a Board Member of a Newly Developed Firm with Janet Robinson
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
Source
13 min
July 12, 2024Episode 221 – Global Markets: Why Japan and India Are Standing Out with Jeremy Schwartz
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
Source
17 min
July 08, 2024Episode 220 – Model Portfolios for Modern Investing with Kunal Shah
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
Source
18 min
July 01, 2024Episode 219 – The Impact of Digital Innovation and the Future of Fintech with Mohan Gurupackiam
Mohan Gurupackiam is the Chief Information Officer at Steward Partners Global Advisory: an employee-owned, full-service partnership that caters to family, institutional, and multigenerational investors.
In this podcast, Doug and Mohan discuss the latest technological advancements in the financial industry, talking through the impact of digital innovation and the future of fintech.
Topics discussed:
Mohan’s extensive 25-year career in the finance industry, including roles at E-Trade, Cetera, and AssetMark.
The significant technological advancements in the financial industry, such as the rise of FinTech and the shift towards a paperless office.
Tailoring technology solutions to meet the unique needs of individual advisors rather than adopting a one-size-fits-all approach.
The potential of artificial intelligence to enhance efficiency in areas like client meetings, portfolio construction, and investment management.
How technology benefits investors by improving efficiencies and enabling more sophisticated investment management and seamless interactions.
Gurupackiam praises the collaborative and partnership-driven culture at Steward Partners, which fosters open and respectful conversations and includes everyone as a partner.
The critical importance of cybersecurity infrastructure in protecting firm data and assets from increasing cyber threats.

Resources:
Steward Partners
Source
15 min
June 27, 2024Episode 218 – Identifying Advisor Pain Points with Adam Holt
Adam Holt is the CEO and Founder of Asset Map, a platform providing interactive financial overviews for informed and empowered decision-making.
Asset Map surveyed 175 advisors on challenges like accessing next-gen clients, the role of technology, and the industry’s current state. On this episode, Adam breaks down the data and offers his insights into their future impact on advisors and the industry.
Topics discussed:
The need for financial advisors to improve communication and demonstrate their value to younger generations, who often mistrust or do not understand the benefits of financial advising.
Leveraging technology and modern tools to enhance client engagement and financial literacy, aligning with evolving client expectations.
AI’s potential impact on the financial services industry with a focus on how it could transform tasks like communication, workflow management, and possibly even the advisor-client dynamic.
Asset Map’s integration with Holistiplan, a tool that helps advisors quickly analyze tax returns, enhancing the platform’s capability to offer comprehensive financial insights on a single screen.
Asset Map’s strategic vision to provide a holistic view of clients’ financial situations by layering various types of data, enabling more interactive and insightful financial planning sessions.

Click here to view Asset Map’s Advisor Insights Survey!

Resources:
Asset Map
Source
12 min
June 26, 2024 Episode 217 – Why Annuities Matter More Than Ever with Tim Seifert
Tim Seifert is the Senior Vice President and Head of Retirement Solutions Distribution at Lincoln Financial Group: a firm that has been helping millions of people plan, protect, and retire for over a century. In this podcast, Tim and host, Steve Gresham, dive into the implications of millions of Americans retiring each year, the challenges … Continue reading Episode 217 – Why Annuities Matter More Than Ever with Tim Seifert →
18 min
June 25, 2024Episode 216 – Reaping the Benefits of an Independent Partner with Chris Reaney
Chris Reaney is the Managing Director of High Water Wealth Group at Steward Partners. Steward Partners is an employee-owned, full-service partnership that caters to family, institutional, and multi-generational investors.
In this podcast, listeners can expect an insightful discussion on Chris Reaney’s career journey from a traditional wirehouse to joining and growing with Steward Partners. The episode highlights the evolution of the financial advisory landscape and the critical importance of support and entrepreneurial freedom for advisors.
Topics discussed:
Chris’ early career, highlighting the support for entrepreneurial advisors and contrasting it with less flexible environments at other firms.
His decision to leave a traditional wirehouse and join Steward Partners, motivated by dissatisfaction with the corporate culture and a lack of support at his previous firm.
Reaney explains the initial challenges and rapid growth of Steward Partners, emphasizing the freedom to run his business and the comprehensive support the firm provides.
The importance of personal touch in client relationships, noting that despite advancements in technology and AI, clients value the human element in financial advising.
The evolution of Steward Partners from a small, ambitious firm to a large organization, noting the continuous enhancements in support and resources available to advisors.
Reaney outlines his future plans, including succession strategy and a long-term commitment to the firm, while also balancing personal interests and values.

Resources:
Steward Partners

Source
17 min
June 18, 2024Episode 215 – What Does Freedom Mean to You? with Scott Danner
Scott Danner is the Chief Executive Officer of Freedom Street at Steward Partners. Steward Partners is an employee-owned, full-service partnership that caters to family, institutional, and multi-generational investors.
In this episode, Scott shares the inspiring journey of founding his company to revolutionize financial advising with a focus on relationship-building and personal impact.
They also discussed:
Scott’s journey of founding the firm in 2016 to address the lack of succession plans among aging financial advisors.
The rapid growth of Freedom Street and their goal of building a national brand with a compelling identity to attract top talent and clients.
The Life Optimization model, which prioritizes love, impact, faith, and energy over traditional financial metrics.
Benefits of joining Steward Partners, which provided support in HR and legal while maintaining a collaborative culture.
Scott talks about the importance of balancing high performance with self-awareness and achieving personal equilibrium.

Resources:
Steward Partners
Source
17 min
May 29, 2024Episode 214 – Building the Firm of Today and the Future with Jim Gold
Jim Gold is the CEO and Co-Founder 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, Jim reflects on Steward Partners’ exponential growth over the past decade, exploring its unique culture of partnership, and its mission-driven approach to financial advisory services.
Also discussed:
Steward Partners’ rapid expansion, including the need for scale and the importance of legacy preservation.
The firm’s equity story, where every employee is an owner with the same equity, creating a culture of alignment and happiness.
The firm’s past milestones, including survival during early days, financial accolades, and great culture, with a focus on evolution and listening to people.
The importance of transparency, talent, and resources in making the right decisions.
The evolution of the advisor role and the importance of technology in providing accessible, trusted advice.
Jim Gold provides leadership advice, emphasizing honesty, integrity, and compliance.

Resources:
Steward Partners

Source
12 min
May 28, 2024Episode 213 – Here’s a Solution for Your Organic Growth Problem with Steve Gresham
Steve Gresham is the Managing Principal of NextChapter: an industry community and a tech-enabled solutions company focused on creating better retirement outcomes for everyone.
In this episode, we’ve invited Steve to share his insights on organic growth, exploring what fuels it, why it’s crucial, and how advisors can harness its power effectively.

Also discussed:
Why some advisors are experiencing growth while others are not, prompting an examination of the underlying dynamics.
The significance of both willpower and skill in an advisor’s success.
The distinction between organic and inorganic growth within the industry and the importance of organic growth as a measure of the business’s health.
The impact of aging demographics on advisor practices, noting the challenges posed by an aging client base and the implications for organic growth.
The dissatisfaction of private equity firms with industry returns.
The industry’s responsibility toward investors’ well-being.
Strategies for advisors to achieve organic growth effectively, emphasizing the importance of client retention, understanding evolving client needs, and improving share of wallet by offering new services and consolidating assets.

Resources:
Next Chapter

Source
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Power Your Advice is about discovering ideas that help you do and be more for your clients. In this podcast series, Advisorpedia seeks out and chats up industry innovators to help you understand who…