Simple, but Not Easy

By Morningstar

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What's Simple, but Not Easy about?

Hello, and welcome to Simple, but Not Easy, where we turn complicated financial developments into actionable ideas. This is a podcast from Morningstar’s Wealth Group, where we equip financial advisors with our best ideas to remove friction and help clients achieve goals.

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Simple, but Not Easy episodes:

03.14.2024
Baby Boomers to Millennials: Working Across Generations to Help Them Achieve Financial Goals
Much of the discussion around financial advice tends to be around asset allocation, product selection, and fund structures. These are all worthy conversations and topics we’ve enjoyed discussing previously on this show. But one topic that feels underexplored: how do...
02.06.2024
U.S. Stocks: Beyond the Magnificent Seven
The Magnificent Seven continue to capture the attention of advisors and investors, dominating U.S. equity performance over the last year. Will this trend continue throughout 2024? Will growth stocks continue to beat value? What about large versus small? And what...
12.08.2023
2024 Outlook: Economy, Inflation, Best Ideas, and AI
The topics we're discussing today align with the recent release of Morningstar Wealth's 2024 Market Outlook. A recession seemed to be the consensus view entering the year, but markets love to fool the masses, and a stock market rally followed. However,...
11.02.2023
AI's Role in the Future of Wealth Management, Featuring the AI Character "Morningstar Mo"
A lot has already been said about the potential of artificial intelligence, or AI, but how are people actually engaging with it? And how should investors think about their AI exposure in a portfolio? Morningstar has invested heavily in generative...
07.11.2023
The Cutting Edge of Advisor Technology: Ezra Group's Craig Izkowitz
Financial technology is going through a new wave of change, with artificial intelligence – or AI – taking the world by storm. But the wealth tech space is already incredibly complex, with literally hundreds of tech providers battling for market...
06.07.2023
BlackRock's Liz Koehler on Financial Advice, Using Models, and Raising the Bar
The need for great financial advice continues to grow, with a landscape we haven’t witnessed in 15 years. So, what does BlackRock, the world’s largest asset manager, have to say about this? What might we expect from here? In this...
05.09.2023
Game-Changing Advisor Trends, With Cerulli and SMArtX
We look at innovations and megatrends that financial advisors should watch for. We start with the big problems that financial professionals are attempting to solve, then discuss prevalent trends in product and technology that support better client outcomes. This is...
04.06.2023
30,000-Foot View of Financial Advisor Challenges, Including Data and New Regulations
The complexity of operating a successful financial advice practice continues to grow and significant challenges still exist in operating an effective practice. So, in this episode, we take a 30,000-foot view of financial advisor challenges and dig into the importance...
03.03.2023
What Actions Add Value in This Environment?
Warren Buffet readily admits “I make many mistakes” when referencing his own investment portfolio. This begs the question, where does that leave the rest of us? We know that today's market uncertainty can surface the best and worst of our...
01.03.2023
2023 Outlook: Inflation, Recession, Valuations, and Retirement
What are the positive client messages we can share leading into 2023? With inflation and a recession on everyone’s minds, what actions make sense to support clients? The topics we’re discussing today align with the recent release of Morningstar Investment...
12.22.2022
An Inside Look at Direct Indexing
Direct indexing is becoming a key addition to financial advisors’ toolkits. It provides the ability to tailor an index, like removing a stock or even industry, which can bring the fun back to investing and help with after-tax outcomes. In...
11.21.2022
“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors
Across the globe, the financial advice community continues to navigate a significant period of change. The need for financial advice has only increased, intensifying the demands placed on advisors and their most valuable commodity - their time spent with clients....
11.01.2022
Latest Research on Stagflation & Market Impacts
Stagflation is now on the radar for financial advisors and the investors they serve. At the same time, our latest research shows that investor sentiment is plummeting. With this in mind, we are delighted to have two of our most...
10.17.2022
Investing in Today's Volatile Markets: New Season, 100th Episode
Investors can become confused in today’s challenging climate, and understandably so. It can be difficult for advisors and investors of all types and sizes. In this new season of Simple but Not Easy, we welcome Jonathan Linstra as your new...
10.04.2022
Episode 100 Coming Next: But First, Listen To Our Most Downloaded Episode So Far
Stay tuned for our 100th episode up next! We are reinvigorating the podcast going forward, seeking to equip financial advisors with ideas to remove friction and help clients achieve goals. But before we do, we'd also like to thank everyone...
08.23.2022
Behavioral Science & Tips in Volatile Markets
"The most important quality for an investor is temperament, not intellect". Investing is therefore a matter of good behavior. So what behaviors give advisors and their investors an edge? What behaviors are destructive? In this episode, which recycles evergreen behavioral...
08.01.2022
Generating Tax Alpha: Sizing up the Tax Benefits of Direct Indexing
Tax loss harvesting is a strategy that helps investors lower their tax bill by selling securities at a loss to offset realized capital gains. The benefit to investors of systematically realizing, or "harvesting," losses can be significant over time, but...
06.27.2022
Getting Personal: Getting to Know How Advisors Get to Know Their Clients (Episode 13 Rebroadcast)
Getting personal might elicit nervousness, but why does it seem so antithetical to investing? We explore personalization and customization in financial practices: if you’re an investor, how well does your financial advisor know you? And advisors, how much time have...
06.13.2022
What Does Good Forecasting Look Like—and Why Are Weather Forecasters So Good at It? (Episode 65 Rebroadcast)
Good decisions are often built on good forecasts. But forecasting is hard, in part because it requires us to be aware of both what we know and what we don’t—or even can’t—know. Morningstar Investment Management Global Chief Investment Officer Dan...
05.30.2022
Our Insights on the Berkshire Hathaway Annual Shareholder Meeting
We present our thoughts on the recent Berkshire Hathaway conclave. Mr. Buffett and Mr. Munger discussed their firm’s ups and downs and weighed in on such topics as their latest investment activity, inflation, cryptocurrency, and what makes their company unique....
05.16.2022
Investing Amidst Uncertainty
We’ve got the same thing on our mind as the rest of the market—uncertainty. What’s going to happen? Why? When? And what should we do about it? Well, in this episode, taken from a recently recorded webinar, we do our...
05.02.2022
Is Dollar-Cost Averaging Irrational? Compared to What? (Episode 30 Rebroadcast)
Terry Hawkins, sales manager at Morningstar Investment Management and Paul Kaplan, research director for Morningstar Canada, discuss dollar-cost averaging, or the practice of investing slowly over time instead of in one lump sum. Research by Kaplan and others show that...
04.18.2022
Dump the Dow: Why What You Pay Attention to Matters (Episode 14 Rebroadcast)
In this episode, John Owens and Ryan Murphy talk about why price-weighted indexes like the Dow Jones Industrial Average can be distracting to investors. John, who's a senior equity portfolio manager at Morningstar Investment Management, explains why investors should disregard...
04.05.2022
3 Ways to Help Solve Unique Client Challenges with Direct Indexing
Direct indexing. No longer an exclusive tool of the big-account investor, it’s rapidly working its way down the food chain. Now those with more modest sums to invest are able to employ it, too. But just because you can, does...
03.21.2022
Demonstrating ESG Commitments for Advisors and Investors (Episode 74 Rebroadcast)
In this rebroadcast of an episode from 2021, Paul Arnold and Dan Kemp discuss how advisors can better understand why ESG is important to a client—whether it’s the expression of one’s values or something else. We also look at how...
03.07.2022
Fear of the Unknown: Inflation and Rising Rates
“The oldest and strongest emotion of mankind is fear,” author H.P. Lovecraft once wrote. “And the oldest and strongest kind of fear is fear of the unknown.” Fear of the unknown is no stranger to the investment world these days. We’re...
02.21.2022
Key Investing and Behavioral Messages for Advisor-Client Meetings (Episode 51 Rebroadcast)
In this rebroadcast of an episode from 2020, we explore why advisors might change the focus of annual meetings to progress updates with Ryan Murphy, head of decision sciences at Morningstar Investment Management. And Daniel Needham, president, shares his thoughts...
02.08.2022
Risk, Downside Protection, and the Goal Mindset
Short-term worries versus long-term goals—which are guiding your investment decisions? If you’ve done your homework and you’ve given careful consideration to achieving the financial results you want, that question is easier to answer—even if it remains nerve-wracking to stay the...
01.25.2022
Overconfident? Cognitively Rigid? How Investors Can Make Better Decisions by Dealing With Emotions and Biases (Episode 50 Rebroadcast)
"[W]e can’t avoid the reality that we’re experiencing and probably will continue to experience stress, uncertainty, and change. But the question is, how do we cope?" — Sarah Newcomb Given recent market volatility, we thought it might be helpful to revisit...
01.11.2022
2022 Outlook
Rising Interest Rates. New COVID-19 variants. Inflationary pressures. Those and other factors are on the minds of investors as we head into 2022. Will the new year be one of prosperity, or is it time to fortify your defenses? The...
12.21.2021
ESG in 2022: a Simple, but Not Easy Short
Environmental, social, and governance. More commonly called ESG, it used to be seen in many parts of the investment world as a niche specialty that was mostly about virtue—something that was nice to do. But now there’s been no question...
11.30.2021
Easing Inflation Worries
Inflation. It's showing up in headlines and in conversations between everyone from political pundits to investment professionals and clients. It’s no different for us here at Morningstar, and most of what we’re hearing boils down to two key questions: what...
11.17.2021
Q4 Global Convictions: The Beliefs Behind Our Investment Decisions
Conviction. The term derives from the Latin verb convincere, which means “to argue.” And that’s the basis for Morningstar Investment Management’s quarterly global convictions: to present an argument that helps an investor achieve their goals. Or perhaps more directly, what...
10.15.2021
How to Capitalize on the Economic Recovery
An economic recovery is cause for celebration, but how, exactly, do we capitalize on it? Since it began in 2020, the decline that COVID brought us has been called the deepest and shortest economic crisis in history, and the nature...
09.27.2021
Sizing up Risks and Opportunities in Chinese Equities
China is a key talking point in the investment community today, as a regulatory crackdown has spooked markets. Chinese regulators have targeted specific sectors such as technology, education and real estate as part of a crackdown aimed at aligning the...
09.13.2021
The Potential Impact of Corporate Tax Hikes on Equities
09.07.2021
The Sustainability Stress Test
ESG investing, which focusses on an investment’s environmental, social, and governance impact or risk, has grown immensely in recent years, attracting significant inflows. But what happens to ESG investing during a market downturn? Are ESG considerations left by the wayside...
07.28.2021
Our Global Convictions Following Q2 2021
With stocks reaching new highs and companies borrowing at historically low rates, broad markets offer limited upside. So how should investors position their portfolios in face of that?
07.12.2021
2021 Inflation Insights
As more of the US reopens and people begin to return to their normal routines we’ve seen a disconnect between supply and demand, and many are worried that price increases are here to stay. Alfonzo Bruno, associate portfolio manager,...
06.28.2021
Global Energy Stocks: In Structural Decline or a Buying Opportunity?
Other than the strong recovery this year, the energy sector has been avoided by many investors. Whether environmental concerns of an increasing number of ESG-focused investors or worries about the secular decline in oil revenues as the world transitions to...
06.14.2021
Our Reactions: 2021 Berkshire Hathaway Annual Meeting
Our Select Equity portfolio managers share five key takeaways from the 2021 Berkshire Hathaway Annual Meeting. Portfolio specialist Jeff Wagner sits down with Mike Corty, Morningstar Investment Management’s Head of our Select Equity Portfolios team and the portfolio manager of...
05.10.2021
Our Investment Convictions: Searching for Select Opportunities
After the late-2020 rally continued into 2021, Philip Straehl and Edward Fane assess the aggregate reward-for-risk picture in world markets and share their views on select asset class opportunities. Philip is the Chicago-based global head of research at Morningstar Investment Management...
04.26.2021
Will Consolidation Destroy Personalization for Financial Advisors?
Merger and acquisition activity in wealth management is on the rise, with 2020 seeing about 18% more deals--and about 8 times greater deal value-- than the 10-year average, according to Dealogic. What’s driving this consolidation, and how might it affect...
04.19.2021
We're Temporarily Moving to a Biweekly Cadence
We'll have a new episode next week, then every other week for a temporary period. Thanks for listening!
04.12.2021
Dividend Stocks: How Coronavirus, Value/Growth, and Interest Rates Have Affected Income
Stocks have generally roared back from their pandemic lows about a year ago. But what about income? Many dividends were cut when COVID-19 shuttered businesses and kept us at home. What’s the outlook for dividend investors now that stock prices...
04.05.2021
Is Dollar-Cost Averaging Irrational? Compared to What? (Ep. 30 Rebroadcast)
While we're off for spring break, we're reprising this episode featuring Terry Hawkins, sales manager at Morningstar Investment Management and Paul Kaplan, research director for Morningstar Canada. They discuss dollar-cost averaging, or the practice of investing slowly over time instead...
03.29.2021
To Annuitize or Not? (Episode 35 Rebroadcast)
While we're off for spring break, we're revisiting this episode that considers whether and when retirees should buy annuities to insure a steady stream of income, based on David Blanchett's research at the time of original airing. Few products are...
03.22.2021
Rules as Tools: Using Heuristics to Help Empower Financial Success
People often use simple mental shortcuts, also called heuristics or rules of thumb, when they make everyday decisions. And while the behavioral sciences tend to focus on how these shortcuts can backfire and create biases that lead us astray, much...
03.15.2021
South Korean Stocks: Has the Luster Faded After a Strong Finish to 2020?
In this episode, Gareth Lyons and Nabil Salem discuss the somewhat unusual South Korean stock market--unusual in that, this tech-dominated market remained attractively priced until recently. Lyons and Salem review the recent valuation history of this market, analyze drivers...
03.08.2021
Demonstrating ESG Commitments for Advisors and Investors
Paul Arnold and Dan Kemp join Drew Carter to discuss how advisors can better understand why ESG is important to a client–whether it’s the expression of one’s values or something else. We also look at how advisors might think about...

What's Simple, but Not Easy about?

Download our free app to listen on your phone

Simple, but Not Easy episodes:

Baby Boomers to Millennials: Working Across Generations to Help Them Achieve Financial Goals

U.S. Stocks: Beyond the Magnificent Seven

2024 Outlook: Economy, Inflation, Best Ideas, and AI

AI's Role in the Future of Wealth Management, Featuring the AI Character "Morningstar Mo"

The Cutting Edge of Advisor Technology: Ezra Group's Craig Izkowitz

BlackRock's Liz Koehler on Financial Advice, Using Models, and Raising the Bar

Game-Changing Advisor Trends, With Cerulli and SMArtX

30,000-Foot View of Financial Advisor Challenges, Including Data and New Regulations

What Actions Add Value in This Environment?

2023 Outlook: Inflation, Recession, Valuations, and Retirement

An Inside Look at Direct Indexing

“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors

Latest Research on Stagflation & Market Impacts

Investing in Today's Volatile Markets: New Season, 100th Episode

Episode 100 Coming Next: But First, Listen To Our Most Downloaded Episode So Far

Behavioral Science & Tips in Volatile Markets

Generating Tax Alpha: Sizing up the Tax Benefits of Direct Indexing

Getting Personal: Getting to Know How Advisors Get to Know Their Clients (Episode 13 Rebroadcast)

What Does Good Forecasting Look Like—and Why Are Weather Forecasters So Good at It? (Episode 65 Rebroadcast)

Our Insights on the Berkshire Hathaway Annual Shareholder Meeting

Investing Amidst Uncertainty

Is Dollar-Cost Averaging Irrational? Compared to What? (Episode 30 Rebroadcast)

Dump the Dow: Why What You Pay Attention to Matters (Episode 14 Rebroadcast)

3 Ways to Help Solve Unique Client Challenges with Direct Indexing

Demonstrating ESG Commitments for Advisors and Investors (Episode 74 Rebroadcast)

Fear of the Unknown: Inflation and Rising Rates

Key Investing and Behavioral Messages for Advisor-Client Meetings (Episode 51 Rebroadcast)

Risk, Downside Protection, and the Goal Mindset

Overconfident? Cognitively Rigid? How Investors Can Make Better Decisions by Dealing With Emotions and Biases (Episode 50 Rebroadcast)

2022 Outlook

ESG in 2022: a Simple, but Not Easy Short

Easing Inflation Worries

Q4 Global Convictions: The Beliefs Behind Our Investment Decisions

How to Capitalize on the Economic Recovery

Sizing up Risks and Opportunities in Chinese Equities

The Potential Impact of Corporate Tax Hikes on Equities

The Sustainability Stress Test

Our Global Convictions Following Q2 2021

2021 Inflation Insights

Global Energy Stocks: In Structural Decline or a Buying Opportunity?

Our Reactions: 2021 Berkshire Hathaway Annual Meeting

Our Investment Convictions: Searching for Select Opportunities

Will Consolidation Destroy Personalization for Financial Advisors?

We're Temporarily Moving to a Biweekly Cadence

Dividend Stocks: How Coronavirus, Value/Growth, and Interest Rates Have Affected Income

Is Dollar-Cost Averaging Irrational? Compared to What? (Ep. 30 Rebroadcast)

To Annuitize or Not? (Episode 35 Rebroadcast)

Rules as Tools: Using Heuristics to Help Empower Financial Success

South Korean Stocks: Has the Luster Faded After a Strong Finish to 2020?

Demonstrating ESG Commitments for Advisors and Investors