Invest Well, Be Well

Naomi Win - Bridging Wealth and Well-Being

In this episode, we discuss how to reframe uncertainty into a strength rather than a liability, how advisors and leaders can build resilience for market shocks, how advisors can better integrate investing well with living well, why repairability trumps compatibility in teams and relationships and much more. *  Learn more about Naomi’s research and her role at Orion Advisor Solutions. * How should a high-performing investor, or leader, reframe uncertainty so that it becomes a strength rather than a liability? * What does Naomi see as the most common de-railers for investors when markets turn volatile and how can advisors and leaders build resilience for upcoming shocks? * How can we get people to become more comfortable sitting with uncertainty without rushing to coping strategies and quick fixes? * What are some of the key levers that advisors can use to move their clients from feeling like they are just invested to feeling that they are living well? * What role does vulnerability play in decision making and how does it map onto investment behaviors in a world that celebrates confidence? * Why does Naomi think repairability trumps compatibility in relationships and how does this manifest in investment teams? * What can firms do to engineer better investor behavior and better decision-making behavior? * What behavioral tools or frameworks does Naomi recommend to close the gap between what clients say they want and what they actually want? * When an advisor is growing their firm, how should they weave in some of these behavioral questions into their work on prospecting and during the onboarding process? * What role does advisor self-awareness play in forging trust with clients? * In Naomi’s view, how do habits in physical fitness, social connection and mental health connect with investment behaviors? * What are some emerging tools, from the standpoint of behavioral science and wealth technology, that Naomi recommends advisors look into? * What is one behavioral bias that kills long-term investing discipline and what's one actionable fix Naomi has used with clients to deal with that? Quote “Uncertainty being treated as if it’s just naturally a liability would be like saying ‘being alive is a liability,’ which is entirely correct but not necessarily helpful. So, if we think about uncertainty in terms of how we break it down psychologically…we want to embrace space to make meaning in that. If something is ambiguous, that can be a little scary and also it gives us space to make meaning.” - [02:30] Naomi Win Links * Naomi Win on LinkedIn [https://www.linkedin.com/in/naomiwin/] * “My World Is You” by ESG [https://open.spotify.com/track/1gJliOYt2l8kjBqsegkMq6?si=1b2210fd10744893] Connect with Us * Rusty Vanneman on LinkedIn [https://www.linkedin.com/in/rusty-vanneman-cmt-cfa-bfa%E2%84%A2-304306/] * Robyn Murray on LinkedIn [https://www.linkedin.com/in/robynmurray/] Compliance Code:

Bob Heller - Insights from Former Fed Governor on Business, Investing and Life

In this episode, we discuss Bob’s ilustrious and varied career, what he remembers about growing up in Germany during WWII, his thoughts on the role of central banks and crypto currency, why he believes Keynesian Economics is fundamentally flawed and much more. * What did growing up in Germany during WWII teach Bob about risk, scarcity and humility, both professionally and personally? * What was Bob’s experience like moving to the US as a German immigrant? What cultural or psychological adjustments did he make and how did this prepare him for later high-stakes professional roles? * What were some of the hardest parts of Bob’s major career transitions and were there skills that were acquired in one realm that turned out to be surprisingly useful in another? * Is there a moment or decision from his tenure at The Federal Reserve that still gives him pause and what did he learn from it? * As a Fed Governor, how did Bob manage times of stress or friction on the governor’s board? * Why did Bob describe Visa as torn between chaos and order and how did he strike the balance during his time there? Also, what’s a tough decision he made to preserve innovation there? * From Bob’s vantage point as a former Fed Governor, how does he see the evolving role of central banks today and where does crypto currency fit into all of this? * What does Bob believe are the characteristics that separate financial systems that survive crises from those that don’t? * What are some of the warning signals that Bob looks for in financial markets or financial institutions that may signal they’re too fragile? * Why does Bob believe that Keynesian Economics is fundamentally flawed? * What mental framework did Bob utilize when making large decisions, often with limited information? * How did Bob manage his work life balance during his high pressure career? * What was a failure or misstep, either professional or personal, that taught Bob an enduring lesson? Quote “Having grown up in Europe, where they have what the Europeans called universal banks, for me it was a natural thing to have investment banks and commercial banks together. The advantage obviously was that they were more stable institutions, because they had the possibility to diversify more. They had more diversified portfolios, they had different ways to earn money, they had more capital and as a result you had, overall, more stable organizations.” - [18:18] Bob Heller [https://www.linkedin.com/in/robert-heller-679b86108/] Links * Bob Heller on LinkedIn [https://www.linkedin.com/in/robert-heller-679b86108/] * Bob’s The Authentic Class Interview with Fernando Rincon [https://www.youtube.com/watch?v=jInOyyCQTLU] * The Unlikely Governor (Book) [https://www.amazon.com/Unlikely-Governor-American-Immigrants-Wartime/dp/0996439021] * Elvis Presley - "My Way" (Live From Hawaii, 1973) [https://www.youtube.com/watch?v=ixbcvKCl4Jc&list=RDixbcvKCl4Jc&start_radio=1] * Black Fooss - Ich möch zo Foß noh Kölle jon [https://www.youtube.com/watch?v=tAaT-UVtrYs&list=RDtAaT-UVtrYs&start_radio=1] Connect with Us * Rusty Vanneman on LinkedIn [https://www.linkedin.com/in/rusty-vanneman-cmt-cfa-bfa%E2%84%A2-304306/] * Robyn Murray on LinkedIn [https://www.linkedin.com/in/robynmurray/]

Joe Smith: On Direct Indexing, Risk & Culture

In this episode, we discuss the problem Parti Pris is solving for advisors and their clients, the non-negotiable principles of wise investing, how to achieve true diversification at a household level, the most crucial risk management tools, how Joe’s entrepreneurial journey has shifted the way he thinks, how the ETF and Direct Indexing landscape may evolve in the coming five years and much more. * What is the exact problem that Parti Pris is solving for advisors and their clients? * What is the core principle behind Joe’s personal investment philosophy today? * From Joe’s many years of experience leading multi-asset portfolios, what are some of his non-negotiable principles of wise investing? * How does Joe define, and measure, true diversification at the household level? * What tools does Joe think matter the most, in terms of risk management, for clients? * How does Joe think that behavior and process intersect? How does he design portfolios that investors can actually stick with? * How has Joe’s entrepreneurial journey affected the way he thinks?  * Listen to a walkthrough on Parti Pris and how they save their advisors time. * What are “advisor sketchbook” and “advisor wealth design” on the Parti Pris platform? * If Joe has an RIA that’s starting from model portfolios and ETFs, what’s the pragmatic 90 day path to that household level of personalization that Parti Pris shoots for? * Are there trackable metrics that illustrate how personalization can create better client outcomes? * How does Joe see the ETF versus Direct-Indexing split evolving over the next 3-5 years? * What does Joe think the most underrated advantage of direct indexing is, beyond tax loss harvesting? What does he think is the most overrated? * How does Joe define “culture” within the context of an investment firm? * As an entrepreneur, what are some of the hardest lessons Joe has learned and does he have any advice for any potential founders listening today? * What does performance mean to Joe, both personally and professionally? * How does Joe strive to maintain his work-life balance? Quote “A lot of what we’ve done [at Parti Pris] is frankly years of consulting and working with both small and large wealth management organizations to really understand where do they find parts where the process breaks for them. [Then we ask ourselves] how can we come up with something that can alleviate that pain for them? Again, [we just want to] get them back towards saving time and focusing on working with clients.” - Joe Smith [https://www.linkedin.com/in/josephdsmith/] Links * Joe Smith on LinkedIn [https://www.linkedin.com/in/josephdsmith/] * Parti Pris [https://partipris-invest.com/] * “The Show Goes On” by Lupe Fiasco [https://open.spotify.com/track/4NTWZqvfQTlOMitlVn6tew?si=2f822765f47c44eb] Connect with Us * Rusty Vanneman on LinkedIn [https://www.linkedin.com/in/rusty-vanneman-cmt-cfa-bfa%E2%84%A2-304306/] * Robyn Murray on LinkedIn [https://www.linkedin.com/in/robynmurray/]

Dave Lundgren - Technical Analysis, Discipline and Stronger Living

In this episode, we discuss the underlying principles of technical analysis, why so many institutional investors overlook or misunderstand technical analysis, what disciplined investing looks like, how quantitative investing and behavioral investing overlap with technical analysis and much more. *  Learn a bit about Dave’s professional journey and what he’s doing today. * In Dave’s own words, what is technical analysis? * What are some of the underlying principles in technical analysis that make it a valuable tool for investors? * Why does Dave think that so many investors, particularly institutional investors, overlook technical analysis or misunderstand it? * How does Dave define discipline in the context of investing? * How does discipline show up in Dave’s actual process such as his rules, review cycles and decision making? * What are the consequences when investors lose discipline? * How does technical analysis compliment fundamental analysis? * Are there moments in market cycles where technicals matter more, or differently, than fundamentals? * How do quantitative investing and behavioral investing overlap with technical analysis? * How would Dave describe today’s current market structure and does he think we are in a bubble? * What are some of the technical signals that Dave is watching to know when to get out of a bubble? * In the kind of fragile market environment we are currently in, how can investors prepare and how can they balance caution and opportunity? * Who have been some of Dave’s biggest influences in the world of technical analysis? What books, mentors or resources have shaped his philosophy * For investors who are new to technical analysis, how can they begin to blend this strategy into a long-term, diversified portfolio? * What is the mission of the CMT Association and what does a CMT designation represent in today’s investment landscape? * What inspired Dave to start his podcast, “Fill the Gap?” * What is Dave’s approach to retaining physical and mental resilience? * What are some of Dave’s daily or weekly habits that support his high performance? * How has Dave’s mindset evolved over the years, both as a market professional and a human being? Quote “[Colleges] can’t tell you that momentum works, because [then] they can’t justify…all the courses they teach, the infrastructure around it and everything else, so it’s too risky for them to say that momentum works. Now, having said that, the room that I am in is not a very big one, but you could definitely fill this room with all the white papers that have been written by academia in support of the momentum factor.” - [13:33] Dave Lundgren [https://www.linkedin.com/in/david-lundgren-cmt-cfa-63b73b/] Links * Dave Lundgren on LinkedIn [https://www.linkedin.com/in/david-lundgren-cmt-cfa-63b73b/] * MOTR Capital Management & Research [https://motrcmr.com/] * “Here it Goes Again” by OK Go [https://open.spotify.com/track/1pHP4JeQV9wDx87D6qH9hD?si=57b2f4fa57c5444f] * Fill the Gap Podcast [https://cmtassociation.org/education/podcasts/] * Dave Lundgren on The Weighing Machine [https://orion.com/podcast/weighing-machine/episode/david-lundgren-motr-capital-management-and-research-technical] Connect with Us * Rusty Vanneman on LinkedIn [https://www.linkedin.com/in/rusty-vanneman-cmt-cfa-bfa%E2%84%A2-304306/] * Robyn Murray on LinkedIn [https://www.linkedin.com/in/robynmurray/] Compliance Code:

Robbie Cannon - Helping Investors, Financial Advisors and Asset Managers Thrive

Tune in to hear: In this episode, we discuss how to best balance tech efficiency and human empathy, how data is changing the way advisors serve investors, why advisors and investors should consider allocating with boutique managers, advice for business founders in present day and much more.  * In Robbie’s view, what is the right balance between tech efficiency and human empathy in wealth management? * How does Robbie think data is changing the way that advisors serve investors and what does he think are the biggest opportunities ahead? * Learn more about the Money Management Institute that Robbie participates in and what excites him about how MMI is helping the industry evolve. * What’s a success story, or an example, from THRIVE that demonstrates the program’s impact on innovation or inclusion for these emerging managers? * Why should financial advisors and investors consider allocating with emerging and boutique managers? * What challenges do these emerging managers face, particularly against these larger firms in the broader ecosystem? * What were some of Robbie’s pivotal lessons in growing the asset management firm Horizon into a recognized brand? * What advice would Robbie give to business founders today who want to grow their firm sustainably as the landscape becomes increasingly competitive? * How does Robbie maintain his energy and pace, both physically and mentally? * Are there any habits, routines or practices that Robbie maintains to promote his wellbeing? * How has Robbie’s approach to balance and recovery evolved as his career and responsibilities have grown? * What is one practice or principle, outside of work, that Robbie believes most enhances his decision making as a leader? Quote “I think mobile has won, I think we can say that, right? Mobile over Desktop has won, and the problem with mobile is that everything is set up for you to make an emotional or quick decision…We want clients to make really good, well-informed decisions, and the device that has won, mobile, and the way we put technology in mobile is actually not suited to make that well-informed decision.” - [04:45] Robbie Cannon [https://www.linkedin.com/in/robbie-cannon-189b25a7/] Links * Robbie Cannon on LinkedIn [https://www.linkedin.com/in/robbie-cannon-189b25a7/] * The Advice Age [https://www.amazon.com/Advice-Age-Letter-Financial-Services/dp/B0CCCHSJ3C] * “Sound of Madness” by Shine Down [https://open.spotify.com/track/0W9Xvd4Qx1aZPxEi94vgRY?si=66081333d5e6426e] Connect with Us * Rusty Vanneman on LinkedIn [https://www.linkedin.com/in/rusty-vanneman-cmt-cfa-bfa%E2%84%A2-304306/] * Robyn Murray on LinkedIn [https://www.linkedin.com/in/robynmurray/]