The Nine

In this timely episode of The Nine, we explore the growing interest in dual share class ETFs—a product structure that could significantly reshape the investment landscape. Host Sarah Walter is joined by Christopher Swansey and Daniil Shapiro of Cerulli Associates, who offer expert insights into why asset managers are filing for SEC exemptive relief, how this structure works, and what it will take for it to succeed.

From operational complexities and intermediary concerns to fiduciary implications and platform readiness, this episode is a must-listen for anyone navigating product innovation in a rapidly evolving regulatory environment.

In this episode of The Nine, Sarah Walter welcomes Cheri Belski, Head of Investment Management Solutions at LPL Financial, for a dynamic conversation on leadership, adaptability, and the evolving future of asset and wealth management.

Cheri shares how an unconventional path—from politics to portfolio strategy—fueled her growth and helped her develop a mosaic view of the industry. From betting on herself in pivotal career moments to leveraging curiosity as a strategic tool, her story is a masterclass in career agility. She also offers powerful insights on how firms can blend technology and human connection to create client experiences that truly stand out.

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In this inspiring episode of The Nine, host Sarah Walter is joined by Frank Heavey, Executive Director of the Expect Miracles Foundation (EMF). Frank shares the mission behind EMF—from raising over $23 million for cancer research to supporting young adult survivors—and offers a look into the Foundation’s most powerful initiative: the 2025 Distance Challenge.

Learn how this global, virtual movement brings the financial services industry and beyond together to raise funds, build community, and most importantly—spread hope. Whether you're logging miles, fundraising, or simply showing up, Frank reminds us that everyone can go the distance in the fight against cancer.

 Learn more at emfdistancechallenge.org

In this episode of The Nine, we're joined by Eric Pan, President and CEO of the Investment Company Institute (ICI), for a timely and insightful conversation on the evolving landscape of asset and wealth management. Fresh off the stage at Nicsa’s Strategic Leadership Forum, Eric shares his thoughts on how political shifts, technological innovation, and generational preferences are reshaping the investment world. From navigating regulatory change to embracing uncertainty in his own career path, Eric offers practical wisdom for both seasoned professionals and rising leaders.

Tune in for a forward-looking discussion on what it means to serve the end investor—and how our industry can rise to the challenge.

​In this special episode, we sit down with five exceptional professionals from Nicsa’s Rising Stars program to discuss their transformative experiences at the 2025 Strategic Leadership Forum. From building powerful networks to embracing authenticity in the workplace, these future industry leaders share key takeaways that are shaping their careers. Tune in to gain insights on leadership, mentorship, and the evolving landscape of asset and wealth management. 

In this episode of The Nine, Mike Dembro, Lead Investment Strategist at MFS Investment Management, shares his journey from early investing lessons to navigating major financial crises. Fresh off the stage at Nicsa’s Strategic Leadership Forum, he discusses the importance of resilience, industry shifts, and why staying the course matters in volatile times. 

More at http://nicsa.org/podcasts

In this episode of The Nine, we sit down with Rob Kane, Director of Alternative Investments at Commonwealth Financial Network, to explore his unconventional path into asset & wealth management. Rob shares how his background in sports shaped his path to this industry, the pivotal moments that defined his leadership, and why he gravitated toward alternative investments.

He also dives into the future of the industry, from the rise of younger investors to the growing impact of AI and innovation. Plus, his advice to newcomers: embrace failure, stay adaptable, and find your niche.

More episodes at http://nicsa.org/podcasts

In this bonus episode of The Nine, host Justine Phoenix sits down with Sarah Walter, Nicsa's new Head of Asset & Wealth Management Relationships. Sarah shares her unconventional journey from studying agricultural economics in Montana to becoming a leader in the financial services industry. She reflects on pivotal moments in her career, including the power of mentorship, navigating industry challenges, and adapting to constant change. Sarah also offers her perspective on the future of asset and wealth management, from blockchain to alternatives, and leaves listeners with empowering advice for career growth.  A must-listen for anyone navigating the dynamic world of asset & wealth management!

For more, visit http://nicsa.org/podcasts

We chat with David Wu, Head of Generative AI at Morgan Stanley Wealth Management. From his unconventional path inspired by the film "Wall Street" to leading in AI without a tech degree, David shares pivotal career moments, the importance of mentorship, and lessons in leadership. Discover how he envisions AI empowering human connection in wealth management and his advice for navigating an ever-evolving industry.

For more, visit http://nicsa.org/podcasts

Fresh from leaving a leadership role at John Hancock to accelerate growth in her family’s auto business, Michelle Fuller talks to us in person at Nicsa's 2024 Asset and Wealth Management Summit, reflecting on the people and circumstances she encountered along the way. You won’t want to miss the extraordinary story of how she turned a family challenge that initially seemed career-ending into a net positive for her work trajectory - a real testament to how shifting our expectations can pay off.

For more, visit http://nicsa.org/podcasts