Why do 90% of heirs walk away from their parents’ advisor?

Robert Curtiss welcomes Natasha Kennedy, a former Wall Street professional turned mental health therapist, to explore why the Great Wealth Transfer is at risk of becoming the Great Disconnect. 

With $124 trillion poised to change hands in the next two decades, this episode tackles the emotional, behavioral, and generational blind spots advisors must navigate to retain relationships across family lines.

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About Our Guest:

Natasha believes that growth is inevitable for those who patiently seek it. She also knows that change is usually messy, non-linear, and almost always uncomfortable. Said differently, she is profoundly aware of the vulnerability and trust required to explore the intricacies and contradictions of your inner world with another person. Natasha’s ultimate goal is to provide you with a warm and compassionate space to engage in this work together.

Natasha, perhaps unexpectedly, spent the first decade of her career working in finance. Along this journey, she received her MBA from Columbia Business School. Prior to this, she received her BA in English and Psychology from Georgetown University, where her interest in storytelling and the human condition truly began. She is now pursuing her Master’s in Counseling and Mental Health from Northwestern University.

Her therapeutic style draws from several theories, including Acceptance and Commitment Therapy (ACT), Cognitive Behavioral Therapy (CBT), and Narrative Therapy. It is extremely important to her that she tailors her therapeutic approach to best fit your individual needs, timeline, and desired outcome. It is her privilege to be entrusted with your story, and she commends you for courageously stepping toward the life you want for yourself.

Is private equity still worth it, and can everyday investors finally get access without the complexity?

Robert Curtiss, CFP,® welcomes back Phil Huber, Managing Director and Head of Portfolio Solutions at Cliffwater, to unpack the rise of evergreen private equity funds, an innovation reshaping the private investing landscape.

Phil explains how Cliffwater’s newly launched Evergreen Private Equity Index is giving advisors better visibility into performance, while opening doors for accredited and even unaccredited investors to tap into long-term private market strategies.

Expect an honest look at tradeoffs, manager due diligence, and the evolution of access, with a side of market context as the AI boom and public market concentration unfold.

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About Our Guest:

Phil is a Managing Director and Head of Portfolio Solutions for Cliffwater, based in their Chicago office. In this role, Phil leverages his prior experience as a wealth management CIO to produce and curate investment research, advise on product strategy and positioning for the firm’s growing platform, and help establish and strengthen relationships with the nation’s leading wealth management firms.

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.

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.

As markets surge on the backs of the Magnificent Seven, are investors missing what’s happening off the radar?

Robert Curtiss, CFP®, is joined by Andrew Hull, CFA, Vice President and ETF Strategist at First Trust, to unpack overlooked investment opportunities that may hold stronger long-term value than today’s most-hyped tech names.

Andrew explains how today’s market is historically concentrated and why that creates risk and opportunity. From the reshoring of American industry to massive grid upgrades and the rise of water-cooled data centers, this conversation clarifies themes that may shape the future of returns.

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LinkedIn: Andrew Hull, CFA

About Our Guest:

Andrew Hull is a seasoned financial professional with a robust background in exchange-traded funds and commercial banking. Currently serving as Vice President and ETF Strategist at First Trust, he has cultivated a deep understanding of monetary authorities and central banking dynamics. With over a decade of experience at First Trust, including roles as an Economic Analyst, Andrew has demonstrated a strong commitment to financial strategy and analysis. Prior to this, he held a Vice President position at Columbia Bank, where he honed his skills in commercial banking. Andrew graduated from Wheaton College with a Bachelor’s Degree in Business Economics, which laid the foundation for his analytical expertise. His career reflects a blend of strategic leadership and technical financial acumen, positioning him as a valuable asset in the finance sector. He is particularly interested in the intersection of finance and emerging technologies, aiming to leverage innovative solutions in investment strategies. Andrew’s professional journey exemplifies adaptability and a dedication to continuous learning in a rapidly evolving industry.

When electricity demand in the U.S. hit a record-breaking high on July 28th, 2025, it wasn’t a blip; it was a signal. 

In this powerful follow-up to Episodes 69 and 78, Robert Curtiss welcomes back Michael Underhill, founder and CIO of Capital Innovations, to unpack the megatrends shaping the future of investing.

From surging AI-driven capital expenditures to the multi-trillion-dollar rebuild of America’s power grid, Michael outlines why infrastructure is no longer a “nice to have” but an essential portfolio diversifier. He explores how interest rate cycles, inflation, and the evolving definition of risk are impacting investor behavior and how private infrastructure may offer consistent returns, lower volatility, and true non-correlation in today’s concentrated markets.

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About Our Guest:

Michael Underhill is the Chief Investment Officer of Capital Innovations, a firm focused on infrastructure, energy, and ESG-aligned strategies. With decades of investment experience, Michael brings a deep understanding of macro trends and emerging opportunities in private and public markets. His team manages infrastructure-focused portfolios designed to align long-term capital with long-term value creation.

What happens when public markets no longer provide the diversification they once promised? In this episode, Robert Curtiss, CFP®, is joined by Tony Davidow, Senior Alternatives Investment Strategist at the Franklin Templeton Institute, to explore the tectonic shifts transforming private markets.

Tony shares insights from decades of experience working with institutional capital, family offices, and advisors. He breaks down the evolution of private equity, real estate debt, and evergreen structures and why today’s investors may be missing out on an illiquidity premium worth 3–5% per year. 

From secondaries to real estate, digital infrastructure to target-date funds, this conversation offers a masterclass in building smarter portfolios in an uncertain world.

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About Our Guest:

Tony Davidow is responsible for developing and delivering the Franklin Templeton Institute’s insights on the role and use of alternative investments through independent research, participating in industry conferences, webinars and engaging directly with key partners and clients. He also serves as the host of the Alternative Allocations podcast series. The Franklin Templeton Institute harnesses the depth and breadth of the firm’s global investment expertise and extensive in-house research capabilities to deliver unique investment insights to our clients.

Prior to his current role, Davidow was retained by Franklin Templeton to develop a comprehensive Alternative Investment educational program for financial advisors. He previously held senior leadership roles with Morgan Stanley, Guggenheim, and Schwab, among other firms. Davidow began his career working for a New York-based family office and has worked directly with many institutions and ultra-high-net-worth families over the years. He is a frequent writer and speaker with deep expertise in the use of alternative investments, asset allocation, and portfolio construction, as well as goals-based investing.

It’s the dog days of summer, but the market hasn’t gone to sleep.

Robert Curtiss welcomes back frequent guest Miles Clark from Dorsey Wright for a timely conversation on where we are and where we might be headed. 

From all-time market highs to yellow-flag participation levels, this episode dives into the realities behind performance, volatility, and how history favors the long view.

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About Our Guest:

Miles currently works as a Research Analyst for Nasdaq Dorsey Wright (DWA), a boutique investment advisory and asset management division of Nasdaq focused on providing quantitative strategies to Wall Street and professional money managers globally. Since 1987, DWA has been a recognized expert in relative strength and momentum through the application of Point & Figure (XO) charting, as well as a thought leader in tactical portfolio construction.

Miles joined the DWA team as an intern in 2021 and now creates technical-based analysis and client-facing research in the firm’s Daily Market Analysis segment, with more focused coverage in the communication services, industrials, and cryptocurrency spaces. Other areas of involvement to note include supplementing broad-based technical indicators and research projects, and the creation of weekly media distributed to prospective clients.

Markets have been anything but predictable in 2025, yet resilience continues to surprise investors. 

In this midyear outlook episode, Robert Curtiss is joined by Peter Repetto, Vice President and Investment Strategist at iCapital, to unpack where the economy stands and where it may be heading next.

With deep insights drawn from Peter’s team-wide strategy review, they explore how markets are absorbing trade volatility, policy shifts, and inflation risks and why there’s room for optimism. They also dive into key opportunities across both public and private markets, including middle-market buyouts, infrastructure, and asset-based lending.

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About Our Guest:

Peter is a Vice President and Investment Strategist at iCapital, focusing on developing and delivering research, investment ideas, and thought leadership content for external and internal audiences on behalf of iCapital’s Investment Strategy team. Prior to joining the firm, Peter spent over eight years at Franklin Templeton Investments, where he contributed to their asset allocation strategy and macroeconomic research. Peter holds a BA in Economics from Fairfield University.

A power shift is underway. And it is not just political or technological. 

In this episode of The Millionaire Next Door, host Robert Curtiss sits down with Michael Underhill, Chief Investment Officer at Capital Innovations, to explore the seismic transformation in infrastructure and energy investing.

With humor, historical context, and deep industry insight, Michael compares this moment to Led Zeppelin’s debut, when a once-niche phenomenon suddenly became the main event. The episode unpacks the $112 trillion global energy transition, the exponential rise of AI-fueled electricity demand, and how public and private capital must unite to power the next generation of growth.

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This conversation is more than a forecast. It is a call to understand the world you are retiring into and how to invest in what is coming next.

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About Our Guest:

Michael Underhill is the Chief Investment Officer of Capital Innovations, a firm focused on infrastructure, energy, and ESG-aligned strategies. With decades of investment experience, Michael brings a deep understanding of macro trends and emerging opportunities in private and public markets. His team manages infrastructure-focused portfolios designed to align long-term capital with long-term value creation.

In today’s financial world, headlines shift by the hour, and uncertainty feels like the new norm. 

But what if this volatile environment is actually full of opportunity?

In this insightful episode, Robert Curtiss speaks with Zachary Levenick, a seasoned hedge fund executive turned family office investor, about why today’s market isn’t just chaotic, it’s promising. From his global experience managing funds in New York, London, and Latin America, Zach shares his perspective on why volatility may actually signal better potential returns, if you know where to look.

They explore everything from small-cap inefficiencies and underpriced opportunities to the dangers of chasing overvalued giants. Plus, Zach shares why he’s cautious on private credit and where the democratization of alternatives is heading next.

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About Our Guest:

Before joining THG, Mr. Levenick was a Principal of Taconic Capital Partners, LP (“Taconic”), a multi-billion dollar New York-based private investment firm. Mr. Levenick co-managed the firm’s London-based European operations and was Portfolio Manager for European Equities investing, where focus areas included consumer products, retail, and general industries. He also established and oversaw Taconic’s public and private investment efforts in Brazil, Mexico, Chile, and Argentina, where focus areas included education and logistics. While at Taconic, Mr. Levenick also developed extensive experience in special situations and cross-asset class investing. Mr. Levenick spent 18 years at Taconic, after joining the firm in 2002 as a research associate. Before his career at Taconic, Mr. Levenick worked at J.P. Morgan in investment banking.

Mr. Levenick is a former Director of Barnes and Noble Education (NYSE: BNED).

Mr. Levenick graduated from Harvard College magna cum laude with a degree in History and Literature (Medieval).  He resides with his family in Southern California.  They support a number of educational, outdoor, and local philanthropies in the US and UK.

With public markets still shaky despite recent rebounds, many investors are looking for more stability, without sacrificing returns. 

In this timely episode, Robert Curtiss sits down with Mark Gatto, co-founder and co-CEO of CION Investments, to unpack how private credit and infrastructure investing can offer stable, reliable alternatives for individual investors.

They discuss the growing accessibility of alternative investments, the yield potential of private credit, and why “boring” may be the new smart in today’s market. Mark also shares how CION’s platform was designed specifically for individual investors, unlike most institutions that only cater to the ultra-wealthy.

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About Our Guest:

Mark Gatto is Co-Founder, Co-Chief Executive Officer, and Co-President of CION Investment Group, CION Investment Corporation (CIC), and CION Grosvenor Infrastructure Fund.

He is also a Director and Co-Chief Executive Officer of CION Ares Diversified Credit Fund (CADC). Mr. Gatto serves on the investment committee of CIC and the investment allocation committee of CADC.

Mr. Gatto joined CION in 1999. He served as Executive Vice President and Chief Acquisitions Officer from May 2007 through January 2008. He served as Executive Vice President of Business Development from May 2006 through May 2007 and Vice President of Marketing from August 2005 through February 2006. He was also Associate General Counsel from November 1999 until October 2000.

Previously, Mr. Gatto was an executive for a leading international product development and marketing company from 2000 through 2003. Later, he co-founded a specialty business-consulting firm in New York City, where he served as its managing partner before re-joining CION in 2005. He was also an attorney in private practice prior to joining the firm.

Mr. Gatto received an M.B.A. from the W. Paul Stillman School of Business at Seton Hall University, a J.D. from Seton Hall University School of Law, and a B.S. from Montclair State University.