By Orion Advisor Technology
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The podcast currently has 51 episodes available.
This Week on The Fuse Show, Natalie and Brian talk with Stacy Havener, Founder and CEO of Havener Capital. Stacy Havener has made a career raising $8B+ for new/undiscovered funds that led to $30B+ in follow-on AUM. Prior to finding her niche in raising capital, she was an award-winning writer who dreamed of becoming a literature professor. Ironically, her love of words is one of the secrets to her success in an industry dominated by numbers. Growing up the only girl on all-boy soccer teams, it’s no surprise she’s now a female entrepreneur in one of the toughest “boys clubs.” At the heart of it all, there is one thing Stacy believes in – underdogs. Stacy is the Founder/CEO at Havener Capital Partners, a sales and marketing agency that helps boutique asset managers build, launch and grow funds. Havener Capital is on a mission to level the playing field in asset management by raising $100B for boutiques over the next decade. Stacy holds her Series 6, 7, 24, 63, 66, and 79 licenses and is a registered representative of Compass Securities Corporation. She received her Bachelor of Arts in English Literature from Western Connecticut State University, graduating summa cum laude in 1998. That same year, Stacy was named to both the NCAA and the GTE/CoSida Academic All-American teams for Division III Women’s Soccer and subsequently nominated for NCAA Woman of the Year. Based in Newport, RI, Stacy often spends her mornings walking the beach, sipping a Dunkin’ coffee, and listening to 90’s hip hop.
Key Takeaways
Quotes
[11:18] - "If we really think about it, especially with a new firm, what are we buying? Like in Venture Capital, what are they buying with a startup? They’re buying the people…almost more than anything else, and story allows that connection to occur." ~ Stacy Havener
[17:48] - "Whether we want to admit it or not, the heart buys first and the brain rationalizes that decision. So what story does is it gives you a direct line to the heart [and] to connection." ~ Stacy Havener
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Compliance Code: 2509-OAT-9/30/2024
This Week on The Fuse Show, Natalie and Brian talk with John Euart, Associate Partner at McKinsey & Company.
Key Takeaways
Quotes
[08:47] - "Another thing that I’d like to get your thoughts on as well, is that I do think there is a broader consumer preference shift that’s happening. I think it’s being influenced by the younger generations. Younger generations want experience and they are more focused on life goals, as opposed to…growing that nest egg as big as possible, and I think we are starting to see that actually impact their parents and grandparents…I’m seeing more and more older generations start to trickle that wealth transfer and actually…[they often want to] see the impact of that wealth transfer before they pass on." ~ John Euart
[23:15] - "I do believe that you are both right. [Adopting AI] is going to require us, whether you’re an RIA, a consultant, a tech leader or a CEO, to think about work fundamentally differently and to think about our data fundamentally differently…I’ve talked about this many times…I think that Financial Services biggest limitation is actually a data problem. " ~ Natalie Wolfsen
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Compliance Code: 2268-OAT-9/4/2024
This Week on The Fuse Show, Natalie and Brian talk with Phil Huber. Phil is a Managing Director and Head of Portfolio Solutions for Cliffwater, based in their Chicago office. Prior to joining Cliffwater, Phil was the Chief Investment Officer for Savant Wealth Management. He earned a bachelor’s degree in finance from the Kelley School of Business at Indiana University. He is a CERTIFIED FINANCIAL PLANNER™ professional, has attained his Chartered Financial Analyst® (CFA®) designation and is a member of the CFA Society of Chicago. Phil has been featured in a number of notable media outlets, including The Wall Street Journal, The New York Times, InvestmentNews, CityWire RIA Magazine and Bloomberg TV. From 2018-2020, he was named one of Investopedia’s Top Financial Advisors. Phil was also named CIO of the Year by RIA Intel in 2023. Phil and his wife Christie live in the northwest suburbs of Chicago where they enjoy reading, yoga and spending time with their daughter Hannah. He is also a lifelong, die-hard professional wrestling fan. Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the U.S., which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Key Takeaways
Quotes
[16:31] - "Most people don’t view fund structures as technological breakthroughs…[but] I kind of think of them though, as technology, in a way…I think of the ETF as a technology that has really democratized beta…and to bring down costs and increase liquidity, and so the ETFs have now become this ubiquitous fund vehicle that pretty much everyone uses as their default way of gaining market exposure." ~ Phil Huber
[23:18] - "[When allocating to alts] it has to be enough to matter, but not so much that it’s going to introduce behavioral risk into the portfolio or to the end client, so I think there’s a middle ground range there…of 10-30% of a portfolio across alternatives." ~ Phil Huber
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Compliance Code: 2011-OAT-8/8/2024
This Week on The Fuse Show, Natalie and Brian are joined by Christi Deakin and Chris McDonald from Amazon Web Services. Christi Deakin, based in Sarasota, FL, is currently a US Fintech Leader at Amazon Web Services (AWS), bringing experience from previous roles at Nyca Partners, Wells Fargo and BearingPoint (formerly KPMG). Christi Deakin holds a BBA in Accounting @ The University of Texas at Austin. With a robust skill set that includes Portfolio Management and more, Christi Deakin contributes valuable insights to the industry. Chris serves as the Industry Specialist of Capital Markets at AWS. He has over 20 years of experience with roles focused on global product management, compliance and regulation at Bloomberg and executive management roles at Goldman Sachs and JP Morgan Chase.
Key Takeaways
Quotes
[11:40] - "With a 3 Trillion Dollar wealth transfer on the horizon…,and this wealth transfer is going to younger generations, I think customer experience expectations are really going to rise. That doesn’t mean everything is going to be digital and self-service, because investors at some point…want advice [on] how to manage their money and how to manage these important decisions in their life." ~ Christi Deakin
[16:45] - "...I think being able to bring [the level of personalization we see on streaming services]...into the Financial Services is huge. Again, it’s a little more complicated, it’s a little more sensitive [when] you’re talking about someone’s money, but the underneath kind of capabilities of putting all that data together and joining the dots…is really key." ~ Chris McDonald
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Compliance Code: 1758-OAT-7/16/2024
Tune in this week to learn more about innovations in regulation from Ian Meiksins of Key Bridge Compliance. In particular, we will discuss what innovations are taking place at the SEC and what our clients can do about it.
Key Takeaways
Quotes
[07:57] - "Asset managers globally…are expected to double the size of their assets under management that are allocated to ESG funds. I mean, we are talking from 18 Trillion to over 30 Trillion, and I think that’s a really big piece of why the SEC…[is] so focused on ESG funds and strategies." ~ Ian Meiksins
[13:06] - "Really what [the SEC is] fearing is that AI models will suddenly be produced on just a few, foundational…models, and then obviously we are going to be producing similar outputs. [This] makes it more likely that, if we are using those outputs for investment methodologies and investment decisions, we are going to have concentrated risk…in our financial markets, for our investors and other folks. [At the core of it the SEC] fear that homogenous industry outcome which puts our financial markets at risk." ~ Ian Meiksins
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Compliance Code: 1365-OAT-5/30/2024
Tune in this week to learn more about Generative AI from Jason Pereira of Woodgate Financial. In particular, we will discuss how to counsel advisors on how to not let fear takeover when it comes to AI and how they can best implement AI-powered tools in their practice. In addition, we take a look at some of the unique risks that AI presents for the financial services industry, and beyond, as well as how we can best insulate ourselves and our practices from these risks.
Key Takeaways
Quote
[06:23] - "The one reason to be hesitant [about AI] is surrounding things like security and privacy. That should always be your first and foremost concern. I’ve seen advisors talk about things like ‘oh, I did this with my client’s information in ChatGPT.’ That’s an open protocol, that other parties have proven they can actually extract other peoples’ personal information from, so you should not be doing that flat out…If you are going to work with any kind of protocol…or any kind of AI, security has got to be a first and foremost, paramount concern especially when we are talking about client data." ~ Jason Pereira
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Compliance Code: 1066-OAT-4/30/2024
Tune in this week to learn more about innovation in BeFi from Orion's Chief Behavioral Officer, Dr. Daniel Crosby. In particular, learn why clients often overlook the value add of BeFi, how Orion integrates and embeds BeFi into the DNA of their tech, about Orion’s new tool “Pulse Check” and what the future of Behavioral Finance might hold.
Key Takeaways
Quotes
[08:32] - "No one has done as much as Orion to integrate BeFi…nobody is doing it at the level that we are." ~ Dr. Daniel Crosby
[09:07] - "The integrated piece [of Behavioral Finance] is absolutely critical, and there are really two reasons why. The first reason is that we forget 90% of what we learn in three days if it’s not personalized, applied and integrated…The second piece is [that] people want Behavioral Finance, but they are not always asking for it." ~ Dr. Daniel Crosby
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Compliance Code: 0725-OAT-3/25/2024
Many people increasingly recognize the importance of understanding their taxes thoroughly, not merely as an annual obligation but as a strategic tool for shaping their financial future. While tax planning is not intended to replace the comprehensive financial plan, it is a strategic piece to empower advisors to optimize their financial plan and fiscal outcomes.
In this episode, Ryan Donovan and George Svagera talk with Torie Happe, Head of Partnerships at Holistiplan, a tax planning software solution that helps financial planners drastically reduce the time it takes to provide tax planning for clients. With diverse work experience spanning multiple industries, Torie has extensive experience in the industry and is passionate about helping advisors leverage technology to provide better service to their clients.
Torie talks with George and Ryan about the future of financial planning and the role of tax planning in the overall planning process. Torie explains how Holistiplan empowers advisors and highlights the importance of tax planning in helping clients understand their taxes. She also emphasizes the need for advisors to choose technology strategically and not overwhelm themselves with too many options.
Key Takeaways
Quotes
[08:39] - "Tax planning is becoming really important for clients. They want to understand their taxes more, what they are paying for, why they are paying that, and what's going to happen with the following year." ~ Torie Happe
[10:29] - "Tax planning isn't going to replace your overall financial plan. It's just a tactical piece to add to that financial plan." ~ Torie Happe
[20:53] - "Advisors make huge mistakes when they feel they need to boil the ocean. Instead of looking inward and saying, 'This is my book of business, these are the clientele that I want to go after, and this is my goal at the end of the day, how does technology help me get there?' They are just like shiny new objects and pick every one item from each section. They pick too many." ~ Torie Happe
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3312-OAT-12/15/2023
The wealth management industry is at an exciting crossroads, where technology and innovation are reshaping the way advisors serve their clients. By embracing these changes and leveraging technology to its full potential, advisors can deliver a more personalized and comprehensive wealth management experience, ultimately driving better client outcomes.
In this episode, George and Ryan talk with Noreen Beaman, Head of Leadership Development and Executive Coach at East Bay Merchant Partners as well as Vice Chair Board of Directors at Orion Advisor Solutions. In her role, Noreen leads the coaching and consulting division of East Bay Merchant Partners to develop their leadership and help their executives accelerate the personal growth necessary to unlock new levels of possibility, performance, and success.
A seasoned executive with a proven track record of building and scaling successful organizations from the ground up, Noreen shares her perspective on the history of Orion and its future as the year comes to a close. She also shares her experience in building one of the largest asset management firms in the country and provides insights into the evolving landscape of wealth management and the role of technology in shaping the future of the industry.
Key Takeaways
Quotes
[11:06] - "Financial advice in today's world has never been more important. It's always been important, but it's much more complicated, especially as people don't have pension plans anymore." ~ Noreen Beaman
[16:17] - "Having as many ways to serve your clients, the end consumer, being that end investor, is the best way to deliver a holistic wealth management experience." ~ Noreen Beaman
[30:26] - "Technology doesn't disrupt things as unhappy clients do. At the very end of the day, it's about how you are putting together a service offering that fits with what the investor is looking for." ~ Noreen Beaman
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3083-OAT-11/10/2023
The podcast currently has 51 episodes available.
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