Orion's The Weighing Machine

As the advice model continues to evolve, harnessing the power of technology is not just a competitive edge but a necessity. However, amidst this technological revolution, financial advisory firms have to maintain sight of innovations' true purpose. The most successful firms skillfully strike a balance between cutting-edge innovation and the human touch, ensuring that technology enhances, rather than replaces, the art of conversation.In this episode, Rusty and Robyn talk with Charles Goldman, Executive Chairman of the Board at Orion. Charles is also a member of the Board of Directors of Genstar portfolio companies ACA Group, AmeriLife, Cerity Partners, Mercer Advisors, and Orion. He is chairman of FinTech Evolution Acquisition and an American Mountain Guides Association board member.Charles talks with Rusty and Robyn about the importance of technology in the financial advisory space, how the advice model is changing, and how to build great relationships with clients.Key Takeaways [03:02] - Charles’ career highlights and his most rewarding experience. [05:58] - Charles' early observations of Orion as Executive Chairman. [08:41] - The challenges for financial advisors in the coming years. [12:12] - How technology impacts the advisory model. [15:51] - The gaps in the advisory space that need to be filled. [17:32] - The most important factors when building and maintaining client relationships. [21:45] - The benefits of private equity in the financial industry. [24:50] - The best investment styles for investors. [28:31] - What the future of a full-service advisory firm looks like. [32:25] - Charles' advice to aspiring leaders in the financial services industry. [35:51] - Charles' favorite investing idea. [38:18] - How Charles maintains his physical and mental energy to perform at a high level. [40:51] - The people Charles is thankful for professionally. [43:22] - Charles’ recommendations for content. Quotes[04:37] - "When you're trying to get a leadership point across and build culture, it starts with the firm's mission. It needs to be something you can grab hold of, something you can understand." ~ Charles Goldman[05:45] - "The thing that grabs employees and excites clients is when you live by a mission where you put the client first." ~ Charles Goldman[20:47] - "When you ask questions about building trust and creating conversation, it really is the quality of the conversation and the quality of listening. It's asking the question that stems from your expertise and knowledge of the client and their situation. Those are the best and most trusting relationships." ~ Charles GoldmanLinks  Charles Goldman on LinkedIn Charles Goldman on Twitter Back in Black by AC/DC Cerity Partners AssetMark Charles Schwab Fidelity Investments Mercer AmeriLife Marketing Group Boston Consulting Group Genstar Capital Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2233-OPS-8/14/2023

Renowned for its expertise and commitment to client satisfaction, BlackRock has made significant strides in revolutionizing the financial industry through its Separately Managed Accounts (SMAs) offering. BlackRock places an emphasis on meeting the needs of its end clients, regardless of whether they are institutional giants or retail investors.In this episode, Rusty and Robyn talk with Chris Ryan, BlackRock's Senior Fixed Income Portfolio Manager. In his role, Chris primarily covers the southeast part of the U.S., delivering model-based and custom solutions in both the taxable and tax-exempt space for high-net-worth individuals, institutions, foundations, pensions, charitable organizations, and religious organizations, among others. He works closely with their New York-based corporate team to help filter out the most appropriate credits for their SMA clients while providing consistent updates to help drive decisions to buy, sell and hold positions. With nearly 13 years of experience at BlackRock and previous experience at Merrill Lynch, Chris talks with Rusty and Robyn about fixed income separately managed accounts (SMAs) and how they differ from bonds and ETFs. He also discusses the benefits of fixed income separately managed accounts, the current challenges of the bond market, and the opportunities of municipal bonds.Key Takeaways [02:32] - Chris's background and career in the financial industry. [03:37] - What a fixed income separately managed account (SMA) is and its benefits. [05:36] - What it's like to work as a fixed income SMA portfolio manager. [08:17] - What sets BlackRock apart and its secret sauce for success. [12:02] - BlackRock's views on the bond markets. [15:34] - What BlackRock's state-specific personalization in municipal bonds is all about.  [17:33] - BlackRock's offerings on Orion, including strategies, minimums, and fees. [19:39] - How Chris maintains his physical and mental energy to perform well. [20:16] - The mentors and colleagues Chris is grateful for. [21:06] - Chris' recommendations for content. Quotes[05:08] - "Separately Managed Accounts (SMAs) give the client the ability to personalize their holdings not only to their tax situation but also to their values preferences." ~ Chris Ryan[09:03] - "One factor that has set BlackRock apart is that it focuses on end clients' needs first and foremost, whether that be institutional or retail clients. BlackRock provides the client a better overall understanding of the risks within their investible universe." ~ Chris Ryan[11:03] - "Interactions that are built on trust and solid client service lead to a longer-lasting relationship." ~ Chris RyanLinks  Chris Ryan on LinkedIn BlackRock Back in Black by AC/DC Merrill Lynch Aladdin by BlackRock Ryan Nielsen The Bid Fixed Income in 15 Macro Musings with David Beckworth Connect with Us Meet Rusty Vanneman, Orion's Chief Investment Officer Check Out All of Orion's Podcasts Power Your Growth with Orion 2146-OPS-8/4/2023

Time and again, investors are reminded of the turbulent nature of financial markets. Attempting to predict short-term market movements can lead to a myriad of pitfalls and missed opportunities. Wise investors recognize that true wealth creation lies in the ability to weather market downturns and emerge stronger on the other side. In this episode, Rusty Vanneman and Robyn Murray talk with Jim Cullen, Chairman and CEO at Schafer Cullen Capital Management. Jim founded the firm in 1983 and is responsible for overseeing Schafer Cullen Capital Management and has served as the CEO and Co-Portfolio Manager on all of the firm's strategies. Jim has also been responsible for overseeing the affiliated firm, Cullen Capital Management LLC, since its formation in 2000. His experience in the investment business spans over 60 years.A leading value manager for decades, Jim talks about how the markets have changed over the last 60 years. He also discusses long-term value investing and how it makes sense for investors, the importance of dividends and dividend growth, and why market timing is the root of all evil for most investors.Key Takeaways [03:06] - What the market looked like 60 years ago. [06:15] - How the 1970 bear market impacted Jim's investment philosophy. [11:20] - The inspiration behind Jim's book, “The Case for Long-Term Value Investing.” [15:06] - A look back at Schafer Cullen Capital Management's origins. [16:23] - Why Schafer Cullen Capital Management includes dividend growth in its value investing. [17:17] - How Jim tackles market timing with investors. [19:02] - Jim's approach to stock selection. [20:51] - What happens when the market is concentrated? [22:14] - What Jim has to say about financials. [23:59] - What Jim has to say to young people looking to invest in today's market. [25:23] - Jim's thoughts on how AI might affect the investment industry. [27:24] - Jim's favorite investment idea. [29:25] - The people Jim is thankful for professionally. [31:24] - Content recommendations from Jim. Quotes[10:00] - "Every five-year period has some tough periods, recessions, bear markets, and all the negative stuff. But the five-year time horizon bailed you out on all of them." ~ Jim Cullen[17:40] - "Market timing is the root of all evil for most investors. It's the killer of long-term performance." ~ Jim Cullen[18:04] - "Don't try to time the market because you make all your money when you come out of that recession. That's the biggest part of all the gains in the market over time." ~ Jim CullenLinks  Jim Cullen on LinkedIn Cullen Funds Good Vibrations by The Beach Boys Merrill Lynch Mid-Year Note the Danger Zone A Time for Value The Case for Long-Term Value Investing J.P. Morgan Jamie Dimon Jason Zweig Goodbye Mickey Mouse Connect with Us Meet Rusty Vanneman, Orion’s Chief Investment Officer Check Out All of Orion’s Podcasts Power Your Growth with Orion DisclosureAdvertisement supplied by Schaeffer Cullen Capital Management. Schaeffer Cullen Capital Management and OPS are not affiliated companies and the advertisement is not a recommendation or endorsement by Orion Portfolio Solutions, LLC for any of the services referenced or provided.2044-OPS-7/28/2023

The marketplace is no stranger to speculation and unpredictability, with investors often left to navigate the highs and lows of the financial rollercoaster. As more investors seek to balance risk and reward, defined outcome ETFs present an enticing solution that marries the quest for growth with the imperative for protection. In this episode, Rusty and Robyn talk with Bruce Bond, Co-Founder and CEO of Innovator ETFs. He also co-founded PowerShares Capital Management in 2003. In addition to being recognized for best-in-class products, Bruce has been named the ETF industry's most influential person on multiple occasions and has been quoted in financial publications around the world.Bruce talks to Rusty and Robyn about the growth and changes in the ETF industry, as well as the key drivers of growth and trends to watch. He also shares how Innovator ETFs differentiates itself from other investment management firms and what advice he gives to investors when selecting and evaluating ETFs for their portfolio.Key Takeaways [04:01] - How Bruce got started in the EFT industry. [05:24] - How the ETF industry has evolved over time. [07:11] - Innovator ETFs’ mission and approach to innovation [10:48] - How advisors use the Defined Outcome ETFs. [15:01] - A look at Innovator ETFs’ Premium Income Barrier ETFs. [18:23] - The anticipated launch of Defined Protected ETFs. [21:02] - Growth and obstacles in the ETF industry. [23:09] - How Innovator ETFs adapted to future ETF trends. [24:24] - What investors should consider when selecting ETFs for their portfolios. [26:02] - Bruce's thoughts on the impact of AI on the markets and industry. [28:22] - Bruce's favorite investment idea. [29:30] - How Bruce maintains his physical and mental energy to perform at his peak. [30:51] - The people Bruce is thankful for professionally. Quotes[11:39] - "A lot of guessing goes on in the marketplace, but no one has a good handle on it. So having a product that provides a buffer against those losses on the equity side and simultaneously gives you access to a significant portion of the upside has huge value." ~ Bruce Bond[20:12] - "The beauty of protected ETFs is they're so efficient. They will give you the maximum you can get from the options market on the upside over two years. It removes all the middlemen, all the banks, all the annuities, all the funds, and all these people that get their hands in the pot." ~ Bruce Bond[23:38] - "The defined outcome category is gaining a lot of traction. This controlled exposure to the marketplace is where we will see a lot of growth in the future." ~ Bruce BondLinks  Bruce Bond Innovator ETFs One Thing At A Time by Morgan Wallen The Blessing by Elevation Worship First Trust Nuveen Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1856-OPS-7/11/2023

In finance, understanding the intricate workings of the human mind can be just as important as comprehending the numbers and market trends. Furthermore, behavioral finance acknowledges the undeniable truth that humans are not always perfectly rational when managing their finances. Our minds are prone to biases, emotions, and irrational behaviors that can derail even the most intelligent and successful individuals. In this episode, Rusty and Robyn talk with Doug Lennick, CEO and Co-Founder of think2perform. Doug leverages his 40+ years of experience as a Fortune 100 executive, a seasoned small business owner, and an entrepreneur to help clients achieve optimal results. At think2perform, Doug leads a team that serves the needs of executives and their organizations. He helps clients improve their bottom-line results by enhancing revenue growth.Doug talks to Rusty and Robyn about behavioral finance and why people need to understand it for themselves and their businesses, how behavioral advice helps advisors and investors build and maintain strong relationships, and how to get started writing a book.Key Takeaways [04:52] - Why Doug built a career around behavioral finance. [07:07] - What think2perform is all about. [09:42] - How behavioral finance can help investors and advisors. [14:35] - What think2perform's Behavioral Finance Advice Program is about. [17:14] - What it takes to be a behavioral financial advisor. [21:10] - A list of Doug's published works. [24:51] - Doug's advice for improving interpersonal connections and creating meaningful relationships. [30:21] - How people can cultivate healthy relationships with money. [38:52] - Doug's advice to financial advisors who want to become authors. [41:44] - Doug's take on how artificial intelligence impacts financial advisors. [44:51] - One of Doug's favorite investment ideas. [46:01] - How Doug maintains his mental and physical health to perform at his best. [50:29] - The people Doug is grateful for professionally. [55:03] - Doug's recommendations for content. Quotes[09:18] - "We help people to understand that their mind has the authority to override the brain's desire to repeat behavior. We help smart people who are starting to do dumb things with their money go ahead and assess how smart they are, even in the presence of competing and difficult to deal with emotions." ~ Doug Lennick[10:07] - "Behavioral finance helps people make rational, smart, responsible, and values-based decisions with their money and their life in the presence of competing and difficult-to-deal-with emotions." ~ Doug Lennick[24:14] - "The common pursuit all humans have is that we all want to be happy with ourselves. We want to live a happy life. And by leveraging our financial intelligence, we create an intersection where our money, health, and happiness come together." ~ Doug LennickLinks  Doug Lennick on LinkedIn Doug Lennick on Twitter think2perform I Can See Clearly Now by Johnny Nash Start Me Up American Express Ameriprise Financial Richard Leider The Power of Purpose The Simple Genius (You) Financial Intelligence Moral Intelligence Moral Intelligence 2.0 How to Get What You Want and Remain True to Yourself Leveraging Your Financial Intelligence Don't Wait for Someone Else to Fix It One Thing from City Slickers Dr. Daniel Crosby Standard Deviation Podcast by Dr. Daniel Crosby The Obstacle Is The Way The Book On Stoicism That's Taking the NFL by Storm The Power of Full Engagement Chanhassen Dinner Theatres Built To Move Big Feelings: How to Be Okay When Things Are Not Okay Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1757-OPS-6/28/2023

Investing has become a delicate balance between opportunity and risk. The potential for substantial gains is undoubtedly enticing, but the inherent volatility and unpredictability can be unnerving. Furthermore, the emotional rollercoaster that accompanies market volatility is another challenge. In this episode, Rusty and Robyn talk with DeFred "Fritz" Folts. Fritz has over 40 years of experience in the investment management industry. He was one of the co-founders of 3EDGE Asset Management, serving as the Chief Investment Strategist and member of the Investment Committee. Before 3EDGE, Fritz was one of the first team members at Windward Investment Management, a pioneer in constructing globally diversified portfolios utilizing index Exchange Traded Funds (ETFs). As an ETF strategist, Fritz talks to Rusty and Robyn about multi-asset investing and how to do it well. He also speaks about managing investment risk and his market outlook for multiple asset classes.Key Takeaways [03:06] - The experience Fritz has in managing investments. [04:43] - 3EDGE Asset Management's investment approach and philosophy. [07:14] - How 3EDGE incorporates investor psychology into their model. [09:03] - How advisors use the 3EDGE strategies on behalf of their clients. [11:41] - What 3EDGE's tactical multi-asset approach looks like. [14:40] - Why 3EDGE focuses so much on managing investment risk. [17:01] - Differences between total return and ESG strategies. [19:55] - 3EDGE's market outlook for all asset classes, including crypto. [28:01] - Fritz's take on how artificial intelligence could impact investment management. [30:10] - Fritz's favorite investment idea. [31:44] - How Fritz remains physically and mentally healthy to perform well. [35:13] - The people for whom Fritz is professionally grateful. [36:52] - Fritz's recommendations for content. Quotes[05:54] - "Markets are not completely random. They're driven by the cause-and-effect relationships that impact equities, bonds, commodities, and currencies across the globe. And these relationships are interrelated." ~ DeFred "Fritz" Folts[06:37] - "There's more risk out there than people understand. So, our approach to managing that risk is to be tactical, meaning we make changes to the portfolio when our investment outlook changes and are always globally diversified." ~ DeFred "Fritz" Folts[15:40] - "It's really difficult to hang in there as an investor when you're watching your portfolio and your net worth decline. Having to live through that is hard." ~ DeFred "Fritz" FoltsLinks  DeFred "Fritz" Folts on LinkedIn Fritz Folts on Twitter 3EDGE Asset Management 3EDGE Asset Management on YouTube 3EDGE Orion Spotlight Paper Fritz Folts’ Recommended Reads Your Saving Grace by Steve Miller Band Stephen Cucchiaro Windhaven Investment Management Charles Schwab The Origin of Wealth by Eric Beinhocker The Fed Unbound by Lev Menand The Price of Time: The Real Story of Interest Meditations by Marcus Aurelius The Obstacle Is the Way by Ryan Holiday The Artist Behind Fritz’s Cow Painting Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1640-OPS-6/15/2023

Value investing has long been a pillar of success for many savvy investors. However, as the markets evolve and new dynamics emerge, this conventional approach may no longer provide optimal results. Recognizing the need for a fresh perspective, investors are now turning their attention to a different lens through which to view value investing—one that takes into account a company's free cash flow yield.In this episode, Rusty and Robyn talk with Sean O'Hara, President at Pacer ETFs and Director at Pacer Financial. Sean began his career at PLANCO/Hartford in 1985, where he spent 22 years as a wholesaler, divisional manager, and managing director of the national wholesaler team. In 2007, Sean joined Joe Thomson at Pacer Financial to serve as a national wholesaling company for various products, including exchange-traded funds, exchange-traded notes, annuities, and SMAs. In 2015, Pacer ETFs was launched. A leader of an award-winning ETF provider, Sean talks about cash cows, ETFs, SMAs, and artificial intelligence. More importantly, Sean speaks about the potential problems with traditional value investing and how value investing can be improved.Key Takeaways [02:52] - Sean's career history and why he created Pacer ETFs. [04:19] - What makes Pacer ETFs unique? [05:42] - What cash cow means to Pacer ETFs. [06:22] - The pitfalls of traditional value and how Pacer thinks about value differently. [08:44] - How Sean defines book value and intangible value. [09:29] - The difference between enterprise value and free cash flow. [10:23] - The impact of higher interest rates on free cash flow and dividends. [11:10] - Tax efficiency comparison between ETFs and SMAs. [13:16] - Sean's outlook on the market. [15:24] - How Pacer ETF's cash cow philosophy works. [17:31] - Sean's take on how artificial intelligence impacts market investing. [19:20] - Sean's favorite investing idea. [20:19] - How Sean maintains his physical and mental well-being to perform at his best. [21:04] - The people Sean is professionally thankful for.  [22:43] - Sean's recommendations for content. Quotes[08:14] - "If you're going to find cheap stocks today, you can't be constrained by looking at traditional low price-to-book. You have to look at it in a different way. And free cash flow yield does that." ~ Sean O'Hara[10:30] - "Free cash flow is the mother's milk of dividend payments. If you don't have excess free cash flow, you can't pay dividends unless you borrow money to pay them. So, if you like and want to own dividends and grow your dividends over time, companies have to have excess free cash flow." ~ Sean O'Hara[16:49] - "The interesting offshoot to using free cash flow yield is you get a high-quality portfolio, and the names tend to have better earnings growth, which ultimately, in the end, drives stock prices." ~ Sean O'HaraLinks  Sean O'Hara on LinkedIn Sean O'Hara Email Pacer ETFs Pacer Financial Should've Been A Cowboy by Toby Keith Joe Thomson Vanguard iShares State Street Global Advisors The Maze The Predators' Ball Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1474-OPS-5/30/2023

Activist investing embodies a powerful call to action, urging investors to engage actively and purposefully in shaping the corporate world. This approach presents a unique opportunity to tackle pressing societal challenges, celebrate transformative opportunities, and drive a more sustainable and prosperous future for both investors and society as a whole. By embracing the total value framework and wielding the power of shareholder votes, investors can foster positive change that transcends mere financial gains.In this episode, Rusty and Robyn talk with Jennifer Grancio, CEO of Engine No. 1. In her role, Jennifer guides the firm’s strategy and vision. Before Engine No. 1, Jennifer founded an advisory firm where she worked closely with CEOs to accelerate growth. She also served as a founding member of BlackRock's iShares business, where she led European, U.S., and global distribution and drove the growth of the global ETF industry and iShares’ leadership role. During her tenure at BlackRock, she led teams across wealth, personal, technology, and venture investing.With over 25 years of experience scaling businesses across financial services, Jennifer talks about activist investing and why it is good for investors and society. She also shares the power of shareholder votes and the reindustrialization of North America.Key Takeaways [02:56] - Jennifer's career background and how she got to Engine No. 1. [05:53] - How Engine No. 1 won a proxy battle with Exxon. [08:28] - How Engine No. 1's total value framework works. [10:12] - Why investors need both good index funds and active thematics. [11:47] - How VOTE uses shareholder votes to drive long-term value. [13:33] - Engine No. 1's proxy voting committee and its custom voting framework. [16:00] - The reindustrialization of North America. [19:37] - Jennifer's favorite investment idea. [20:24] - How Jennifer maintains her physical and mental well-being. [20:55] - The people Jennifer is thankful for on a professional level. [22:19] - Jennifer's content recommendations. [23:19] - A look at Jennifer's team at Engine No. 1. Quotes[05:23] - "We saw an opportunity to build a firm that was looking forward in time to ensure that the average investor and wealth portfolios could take advantage of some of these megatrends. So, Engine No. 1 was built to let people access wealth creation and economic opportunity and some of these huge themes that will unfold over the next 20 years." ~ Jennifer Grancio[09:59] - "The total value framework is an approach that goes deep and is very specific with these big public companies on their material risks because that's an important consideration as an investor." ~ Jennifer Grancio[20:02] - "We could be very sad about our world and some of the challenges ahead, or we can celebrate and take advantage of some of the opportunities. So there's a huge opportunity for jobs, economic wealth creation, and reassuring of jobs and manufacturing back to the U.S. and North America." ~ Jennifer GrancioLinks  Jennifer Grancio on LinkedIn Engine No. 1 It's The End of The World As We Know It by R.E.M. BlackRock ExxonMobil The End of the World Is Just The Beginning Eli Horton Molly Landes Yasmin Dahya Bilger Jason LaMacchia Yusuf George Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1361-OPS-5/17/2023

Comprehending the interplay between the macro-economy and market movements can be challenging for investors. Yet, it is a pursuit that holds immense significance in today's complex financial landscape. With its multifaceted indicators and trends, the macro-economy is a powerful compass, guiding investors toward informed decision-making. By grasping the fundamental forces at play, investors can better gauge their investments' potential risks and rewards.In this episode, Rusty and Robyn talk with Mike Singleton, Senior Analyst and Principal at Invictus Research. Mike had the opportunity to work for several years with Broad Run Investment Management, where he spent most of his time conducting deep, fundamental diligence on the highest-quality companies he could find. Since then, most of his time has been spent researching the economy at-large and its relationship with the liquid asset markets. Providing institutional-grade macroeconomic research to a wide range of clients, Mike talks about his outlook for the macro-economy, what that means for the market, and his technical analysis of the market price movement. He also speaks about how investors should consider asset allocation, stock bonds, real assets, and cash when building their portfolios.Key Takeaways [02:56] - What inspired Mike to enter the wealth management industry? [05:37] - What Invictus means by its tagline, “Macro Made Simple.” [06:42] - Mike's investment philosophy. [07:42] - Mike's technical analysis of the market price movement. [10:52] - How Mike assesses real economic growth. [11:50] - Mike's outlook on inflation. [12:52] - How artificial intelligence impacts economic growth and inflation. [14:53] - Mike’s fiscal and monetary policy outlook. [16:56] - How the presidential election affects the economy markets policy.  [20:48] - Mike's outlook for the near-term stock and bond markets. [24:46] - Mike's forecast for real assets. [26:02] - How investors should think about asset allocation, stock bonds, real assets, and cash when building their portfolios. [27:35] - Alternative investments that suit the current market environment. [28:42] - Mike's favorite investment idea. [29:22] - How Mike stays mentally and physically healthy to perform at his best. [30:52] - The people Mike is grateful to on a professional level. [32:15] - Mike's recommendations for content. Quotes[05:47] - "One of the things that deter retail or professional investors from integrating a top-down or macro perspective into their investment process is that it has a reputation for being extremely complicated, esoteric, and difficult to understand. And there are certainly a lot of macro analysts and public figures that make it seem that way." ~ Mike Singleton[09:06] - "Many people think that markets move randomly, that they're disconnected from the fundamentals, or that the Fed has destroyed rational price discovery. But the truth is, real trending moves in markets almost always reflect real fundamental trends. And that's not just a theory." ~ Mike Singleton[26:18] - "It's generally a good idea to play defense rather than offense when growth is slowing. That means having a net at the low end of whatever you are comfortable with." ~ Mike SingletonLinks  Mike Singleton on LinkedIn Mike Singleton on Twitter Invictus Research In The Air Tonight by Phil Collins Warren Buffett American Association of Individual Investors David Lundgren Broad Run Investment Management Blackstone Fill The Gap Podcast Stanley Druckenmiller Market Wizards The Daily Edge Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts

Building successful investment models is a multifaceted endeavor, where allocation, security selection, selecting the right model provider, rebalance, and trading best practices can make all the difference. By understanding the key concepts behind building investment models, investment firms can navigate the complexities of the financial markets with confidence. Ultimately, this will provide their clients with optimal investment outcomes and create lasting value for all stakeholders involved.In this episode, Rusty and Robyn talk with Konstantin "Kostya" Etus, Chief Investment Officer at Dynamic Advisor Solutions. In his role, Kostya is responsible for leading Dynamic's Investment Management team and overseeing all investment operations, including investment people, philosophy, process, portfolios, and performance. Kostya's experience includes managing mutual funds, ETF strategies, and 529 plans and evaluating investment strategies through a robust due diligence framework, including SMAs, model portfolios, and individual funds.With specialized experience in asset allocation and security selection of various ETF and mutual fund portfolios, Kostya talks about what goes into building successful investment models, how to choose the best model provider, and what sets investment firms apart. A self-proclaimed movie buff, Kostya also shares a list of recommended summer movies worth watching.Key Takeaways [04:07] - An interesting story about Kostya's personal and professional life. [07:54] - What Dynamic Advisor Solutions does. [10:02] - A walkthrough of Dynamic's Berkshire Hathaway weekend blog. [16:06] - The five key concepts to building investment models. [22:07] - How advisors can choose the best investment model. [26:24] - What sets investment firms apart? [29:57] - The role culture plays in choosing the right partnership. [32:04] - The must-see summer movies of the year. [48:01] - Kostya's favorite investment idea.  [49:55] - How Kostya maintains a high energy level to perform at his best. [51:51] - The people Kostya is thankful for on a professional level. [55:03] - Kostya's recommendations for content. Quotes[26:06] - "When choosing the right manager, you need to partner with somebody you believe will be best for your clients and who you believe your personal philosophy as an advisor aligns best with that investment manager." ~ Kostya Etus[26:48] - "Everyone has their unique philosophy and investment process — people, philosophy, process. The first P has consistently been the driving differentiator amongst investment firms." ~ Kostya Etus[31:36] - "Culture has to be absorbed in this idea of compliance and doing the right thing. Everybody needs to take care of the clients and do everything in the best interest of the clients. That leads to taking care of your employees, taking care of your partners, and your relationships." ~ Kostya EtusLinks  Konstantin "Kostya" Etus on LinkedIn Konstantin "Kostya" Etus on Twitter Dynamic Advisor Solutions Why Can't We Be Friends You've Got a Friend in Me Jim Cannon Salesforce Berkshire Hathaway Warren Buffett Q2 2023 Investing Insights: Top 3 Lessons from Warren Buffett In 2023 Oriental Trading Todd Clark Everything Everywhere All at Once Sisu The Fast and The Furious The Little Mermaid Spider-Man: Across the Spider-Verse The Flash Transformers: Rise of the Beasts Asteroid City Mission: Impossible - Dead Reckoning Barbie Oppenheimer How Do You Live? Killers of the Flower Moon Last Voyage of the Demeter Strays The Eight Mountains Guardians of the Galaxy Vol.3 Josh Jenkins Lutz  Grant Engelbart Michael Hadden Jeovany Zelaya Ludacka Wealth Partners Nick Codola Joe Smith Parti Pris Investment Partners Intelligent Investor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1455-OPS-5/26/2023