Insight is Capital™ Podcast

Daniel Straus, Vice President, Head of ETF Research and Strategy, at National Bank Financial, joined us for an insightful conversation about the the trends that are shaping the retail investment advice landscape in Canada. Canada, birthplace of the first ETF (turning 30 in 2020), is also now the world leader in development and adoption of actively managed ETFs. We talk about the fundamental reason and differences that have enabled the Canadian market to foster financial innovation. It's revealing for the future of the financial industry that Canadian investors are gravitating toward actively managed equity and bond ETFs. ETF authority Daniel Straus weighs in on this and more. Copyright © AdvisorAnalyst.com

Rodrigo Gordillo and Mike Philbrick, co-founders of Resolve Asset Management contend that it's time to get comfortable being uncomfortable. We're late in the cycle, bond yields are at lows, equity valuations are very high, and that means long term investment returns from the conventional 60/40 equity bond portfolio have a high probability of being lower than expected, and that near-term downside risk is proportionately higher. When your clients think about risk they most often recall or imagine losing money or enduring volatile markets. You, as an advisor, however, have to widen your perspective on risk to include your clients' feelings about their investments, and the potential decisions they may make as a result. Your clients' greatest risk is the probability they won't meet their financial goals – it rests upon you, their advisor, to minimize this risk. How do you do that? What actions, what decisions, what conversations are required in order for you, as an advisor, to minimize the possibility that your clients won't achieve their objectives? Here, in this podcast episode, we take a deep dive into this dilemma, which may change some of your perspectives about how to tackle the key risk facing your clients and by proxy you, and to shed some light on how to overcome and succeed.

We recently sat down with Som Seif, Founder and CEO of Purpose Investments, to catch up with him on markets and strategy. In this episode, we discuss the Fed's about face on interest rates, and what it may mean for investors. But more relevant in this conversation was the angle of discussion on where and how investors/advisors may posiition fixed income and equities for total return in the acutely uncertain period we find ourselves in. Conventional bond investing are now a high risk, low return proposition for most investors today. What's a fixed income solution that works right now? What does the optimal equity investments sleeve look like to Seif right now. These are some of the points we chatted about. More detailed show notes to follow.

Dan Richards, CEO, Client Insights, joined us at the CETFA Mindpath ETF 2018 Conference, to talk about how advisors need to excel in terms of the value that they provide to clients. The level of scrutiny that investors are putting on what they're getting for what they're paying is intensified, and will continue to intensify. Many advisors are locked in the past to some extent, and there is also a degree of not looking at the cost/value concern from the investor's point of view. Dan describes more of the ways elite advisors position themselves uniquely to not only be, and remain, their clients' most valuable and trusted advisor, but also to attract more of their ideal clients. Dan Richards shares some universal shifts in mindset advisors can adopt from conversations and consultations he's had with top advisors in the Canada and in the U.S.

Goshka Folda, President & CEO, Investor Economics, and Global Head of Research, Strategic Insight, chatted with us at the 2018 Mindpath CETFA ETF Conference to discuss her research firm's findings of what it will take for advisors to remain the advisor of choice, to be irreplaceable, in the future, as the nature of the investment business evolves, as a result of the convergence of AI, Fintech, and the proliferation of ETFs. On an increasing basis, advisors are facing mounting pressure as investors/consumers scrutinize costs and fees, demand more transparency, more 'contemporary' accessibility to the information regarding their accounts, and a higher level of guidance, beyond investment options. The commoditization of investment funds is shifting value in the financial ecosystem from the institutions to advisors, and advisors need to recognize that its more important than ever to fine tune their 'value narrative,' to define their value. "There's never been a better time to be a great advisor," says Folda. What makes you indispensable and irreplaceable to your clients? What do your clients need you for? We discuss ideas advisors may implement to get in front of the curve of the industry's evolution, to free themselves to do more of the high value work that will make them indispensable and irreplaceable to their existing and future clients.

Jason Del Vicario is a discretionary portfolio manager at Hillside Wealth Management (operating within Holliswealth/IA Securities) in Vancouver, BC. Jason's experience is varied, however, not unlike that of many Canadian advisors. Over the course of his career, and as a result of key decisions, he evolved into the discretionary fee-based portfolio manager he always envisioned being. Many advisors entered the financial advice business with a vision of how that would look, what it would be to achieve the position of portfolio manager, of successfully managing the wealth of private investors. Jason Del Vicario openly shares his journey here, in some detail, from his beginnings at Investors Group,  to what is now he and his partner's own [successful] discretionary portfolio management boutique.  

We recently had an enlightening deep-dive conversation with Purpose Investments’ Greg Taylor, portfolio manager of the Purpose Marijuana Opportunities Fund (MJJ.NO) about his outlook for the hot Canadian cannabis sector. He also manages Purpose Investments’ Canadian Equity mandates, so we also discussed his outlook for the Canadian energy and banking sectors as well.

Recorded May 28, 2018 - Our in-depth conversation with David Rosenberg, Chief Economist, at Gluskin Sheff on Canada, the U.S., and the Global Economy, and what to do with assets given the current economic and market environment we are entering.AA: Hello and thank you for listening to the Insight is Capital podcast™. This is Pierre Daillie, Managing Editor of the AdvisorAnalyst.com and today we are very pleased to welcome David Rosenberg, Chief Economist with Gluskin Sheff + Associates and author of the daily economic newsletter “Breakfast with Dave.” David, thank you very much for joining us today! In your most recent notes you’ve become critical of the growth outlook for Canada and the U.S. First, let’s talk about Canada. What are the factors you see are interfering with the Canadian story? David Rosenberg: Right, well the Canadian story I think is a probably a more obvious one than the U.S. but I think in Canada it’s a case of excessive regulation, the fact that we’re having trouble obviously attracting foreign direct investment into the country, because ... FULL TRANSCRIPT OF PODCAST

Som Seif, CEO, Purpose Investments discusses how his outlook has changed since the return of volatility to the markets in February of this year. We discuss areas of the market to avoid or reduce, and areas of the market that he favours.

In this podcast, Dan Kelley, portfolio manager, Fidelity Investments, discusses how the opportunity of investing in founder-led companies has historically translated in higher returns. As a high school student, one of Dan Kelley's first jobs was working in a supermarket. At a young age he was interested in how businesses worked, how they were run. In high school he was inspired by legendary investor, Peter Lynch, after reading "One Up On Wall Street." Dan went on to work for two Wall Street powerhouses, as an analyst, until the opportunity to work at Fidelity Investments came along, in 2007, which fulfilled his long-time desire to work on the buy-side for one of the great investment management firms. Prior to joining Fidelity, Dan never imagined that he would one day be mentored by, and earn a place alongside investing greats Will Danoff and Joel Tillinghast, nor that he would have regular conversations with Peter Lynch. Dan Kelley manages Fidelity Founders Class Fund for Canadian investors. He also manages the Fidelity Trend Fund and the Fidelity Advisor Diversified Stock Fund for U.S. investors. TRANSCRIPT