Orion's The Weighing Machine

Recent months have been nothing short of a rollercoaster ride for the markets. We have seen a lot of ups and downs, and it doesn't seem like the volatility will subside anytime soon. As an advisor, it's important to have a game plan for when the market is going through a rough patch. In this episode, Rusty and Robyn talk with Glenn Dorsey, Senior Vice President and Head of Client Portfolio Management at Clark Capital Management Group. In this role, Glenn directs Clark Capital's Client Portfolio Team and leads the firm's efforts to deliver a highly personalized, collaborative portfolio construction process to advisors. He is responsible for portfolio construction and the clear communication of investment strategy to advisors and their clients. Back by popular demand, Glenn talks with Rusty and Robyn about what's happening with the bond market, growth stocks, and inflation. Glenn shares Clark Capital's tactical strategies for navigating a seasonally sloppy market, the impact of a strong dollar on international stocks, and how the firm manages portfolios based on market activity.Key Takeaways [03:38] - Glenn's career history and role at Clark Capital Management Group. [05:21] - Are bonds still worth owning despite the downturn in the bond market? [07:30] - How to protect ourselves from inflation. [09:05] - Will there be a recession? [11:42] - Clark Capital's strategies for navigating a seasonally sloppy market. [14:32] - Glenn's outlook for growth stocks. [16:08] - The impact of a strong dollar on international stocks. [18:46] - How Clark Capital manages portfolios based on market activity. [21:03] - Glenn's personal investment strategy. [23:30] - How Glenn stays in top physical and mental shape to perform well. Quotes[08:15] - "We always say the best cure for high prices is high prices because that leads to two things. You're going to have an increase in supply, the manufacturers of those goods that sell things higher are going to find a way to produce more, and you're going to have demand destruction. People start to use less of those things. And the result of that is prices come down." ~ Glenn Dorsey[17:53] - "We're in a transition where different parts of the world react differently to this inflationary spiral. Keep in mind that a strong dollar is inflationary for most other countries. If the dollar is getting more expensive, that's creating inflation elsewhere." ~ Glenn Dorsey[21:50] - "If you don't need distributions from your account, don't take them right now. This is a good time to put it in the market if you have extra money." ~ Glenn DorseyLinks  Glenn Dorsey on LinkedIn Clark Capital Management Group You've Got a Friend by James Taylor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts DisclosureThe views expressed are those of the speaker and do not necessarily reflect the views of Clark Capital. Investors must make their own decisions based on their specific investment objectives and financial circumstances. Economic and market forecasts presented herein reflect a series of assumptions and judgments as of the date of this presentation and are subject to change without notice. Before investing, an investor should consider their investment goals and risk comfort levels and consult with their investment advisor and tax professional. 1918-OPS-10/12/2022

Tuition inflation is not a new issue for college. Tuition fees and other related expenses tend to increase every year. As a result, many parents are looking for ways to start saving for their children's education early on. There are several alternatives for saving and paying for education.In this episode, Rusty and Robyn talk with Paul Curley, Director of Savings Research at ISS Market Intelligence. In his role, Paul oversees 529 and ABLE market data, research, events, and digital products and services for institutional clients, including the 529 Conference. Also, an Editor-in-Chief of the 529 Dash e-newsletter and the 529 Insiders website for financial advisers, institutions, and the media, Paul presents educational seminars and conferences to financial industry experts on 529 plans and ABLE accounts.Paul talks to Rusty and Robyn about investing in children's education through 529 plans. Paul speaks about why financial advisors should discuss 529s with their clients, the pros and cons of 529 plans, and the advisor's role in helping clients invest in 529 plans.Key Takeaways [03:54] - An overview of Paul's responsibilities at ISS Market Intelligence. [06:07] - How ISS Market Intelligence serves its clients. [07:06] - Trends in student loan debt. [12:22] - Why financial advisors should discuss 529s with their clients. [13:40] - What investors and advisors should look for in a 529 plan. [15:01] - The pros and cons of 529 plans. [16:43] - What the whole 529 landscape looks like. [18:19] - The growth rate of the 529 savings plan. [20:05] - Demographics of 529's primary consumers. [21:20] - Some of the biggest concerns about saving money for college. [23:14] - How to encourage more investors to contribute to 529 plans. [24:54] - Paul's personal investment strategy. [26:21] - How Paul maintains his mental and physical health to perform at his best. [27:25] - Paul's book and content recommendations. Quotes[11:29] - "A 529 plan is a nice tax advantage vehicle to help families save efficiently for education." ~ Paul Curley[16:22] - "There are several alternatives for saving and paying for an education. But 529 provides the most flexibility and provides a market return, which does benefit compared to a bank account." ~ Paul Curley[23:28] - "Although parents or grandparents want their kids or grandkids to go to college to get a full education, whether an apprenticeship, grad school, or whatever it may be, no one has a fully created game plan from a saving and paying perspective." ~ Paul CurleyLinks  Paul Curley on LinkedIn ISS Market Intelligence The Chain by Fleetwood Mac The Automatic Millionaire by David Bach Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1626-OPS-9/7/2022

Income generation is one of the primary concerns of investors today. This is especially true in light of recent market volatility. With investors always looking for new opportunities, how can dividend-focused portfolios and high-quality securities be among the best investing options, especially in today's low-yield environment?In this episode, Rusty and Robyn talk with John H. Crawford, Managing Director of Equity Investments, and David Gilmore, Senior Equity Analyst at Crawford Investment Counsel. Having been with the firm since 1990, John works closely with equity research analysts on stock selection and portfolio policy for all equity strategies. David is responsible for equity research in the consumer and utilities sectors and serves as a voting member of the Equity Investment Team.John and David talk about how dividends, yields, and income play into Crawford's investment philosophy, the relationship between stocks with higher dividends and risk, and what makes Crawford unique among dividend-focused asset managers.Key Takeaways [04:07] - An overview of John Crawford's professional career. [06:33] - David's career background and role at Crawford Investment Counsel. [08:14] - How dividends, yields, and income play into Crawford's investment philosophy. [10:31] - How Crawford's strategy performed both in the short and long run. [12:41] - What Crawford Investment Counsel's self-discipline looks like. [14:19] - The relationship between stocks with higher dividends and risk. [18:39] - What makes Crawford unique among dividend-focused asset managers. [20:03] - John's personal investment strategy. [21:17] - How John and David maintain their well-being to perform at their best. [23:16] - John and David's recommendations for content. Quotes[16:27] - "When you focus on companies with dividend integrity, the income helps in periods of market stress. The higher quality businesses, the strong balance sheets, the high returns, and the predictable and consistent earnings all serve as a flight-to-quality when there are periods of market stress." ~ John Crawford[16:50] - "Dividend integrity manifests in what we call the dividend effect, which is a less volatile, higher income, and very attractive total investment return." ~ John Crawford[19:08] - "Dividends and quality are joined at the hip. But most people don't think about it that way. That's one of the things that makes us unique." ~ John CrawfordLinks  John Crawford David Gilmore on LinkedIn Crawford Investment Counsel Fooled by Randomness by Nassim Nicholas Taleb The Black Swan by Nassim Nicholas Taleb Investment Policy by Charles Ellis Intelligent Investor by Benjamin Graham Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1623-OPS-9/7/2022

In recent years, new technologies, economic changes, and shifting consumer behavior have fundamentally changed how financial services are delivered. That has led to financial services firms rethinking their business models and strategies. In this episode, Rusty and Robyn talk with Billy Oliverio, Executive Vice President and Chief Marketing Officer at United Planners Financial Services. Having been in the industry for 30 years, Billy has worked in various executive capacities in small, medium, and large-sized firms to tackle complex projects and initiatives. He has also served time in the regulatory environment as the Chief Investigator of Enforcement for the AZ Securities Division and has orchestrated all aspects of white-collar crime investigations. At United Planners, his responsibilities include but are not limited to the firm's vision, strategy & business planning.Billy talks with Rusty and Robyn about his outlook on the industry's current and future trends, what United Planners Financial Services has to offer clients, and how the financial services industry can improve in the future.Key Takeaways [04:27] - An overview of Billy's professional career. [05:53] - Billy's investigative experience. [09:48] - What United Planners Financial Services has to offer. [12:25] - Billy's role at United Planners Financial Services. [15:33] - What the future holds for United Planners. [18:20] - Billy's outlook on the industry's current and future trends. [21:47] - How the financial services industry can improve in the future. [24:49] - The qualities of a good financial advisor and wealth manager. [25:59] - Billy's personal investment strategy. [31:15] - The lessons Billy learned from his mentors. [32:53] - What Billy wants to do next. [34:48] - How Billy keeps his physical and mental well-being to perform at his best. Quotes[15:08] - "Advisors are tired of being bought and sold like a commodity or a widget, which is extremely disruptive to their practices as independent business owners. And it's certainly not fair to the investors, who may get impacted by proprietary platforms, changes, fees, and costs." ~ Billy Oliverio[20:15] - "Advisors need to spend more time on client components, such as prospecting and onboarding, engagement, and overall client experience, which is directly tied to revenue-generating activities rather than the operational components that are more non-revenue generating." ~ Billy Oliverio[22:32] - "We, as an industry, should do better with our regulatory landscape. My position is to centralize and unify regulations regardless if you earn a commission or a fee. Reg BI (Regulation Best Interest) is a step to drive best practices of doing what's in the investor's best interest as a common theme, regardless if you are a broker or an advisor." ~ Billy OliverioLinks  Billy Oliverio on LinkedIn United Planners Financial Services Lovely Day by Bill Withers Arizona State University Advisor Group Charles Schwab Dan Rather National White Collar Crime Center Sheila Cuffari-Agasi Jim Cannon Bridget Gaughan cleverDome Michael Baker Excellent Adventures Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts  1620-OPS-9/7/2022

In recent years, the wealth management industry has undergone many changes. The industry is ripe for disruption, and many companies are already beginning to offer new and innovative solutions. In this episode, Rusty and Robyn talk with the “swiss army knife” of financial services leadership, Lori Hardwick. Lori is the CEO of Wealth Tech at Red Rock Strategic Partners. She brings over 25 years of experience working in the financial industry as a prominent voice and is known for her passion for continuous improvement in the financial advisory industry. In her role, Lori works directly with C-suite executives at some of the largest financial services companies. She helps them create and execute winning growth strategies and improve the overall experiences for advisors and their clients.Lori talks with Rusty and Robyn about trending topics in the financial services industry. Among these are how wealth management has evolved over the years, the challenges financial advisory services face today, and how to increase women's participation in the financial services industry.Key Takeaways [03:37] - How Lori became involved in many financial services companies. [07:02] - Lori's most remarkable achievements. [08:53] - What excites Lori about the financial services industry? [13:50] - How wealth management has evolved over the years. [16:45] - Identifying and addressing challenges in financial advisory. [18:21] - What broker-dealers look for in wealthtech providers. [21:38] - How to increase women's participation in the financial services industry. [27:51] - The qualities that make a good financial advisor or wealth manager. [30:14] - Lori's personal investment strategy. [32:28] - How Lori motivates people to do their best. [33:36] - Lori's recommendations for content. [35:27] - What Lori does for fun. Quotes[14:18] - "The historic bold lines that used to be drawn between wirehouses, banks, independent broker-dealers, and RIAs are starting to blend. And watching these firms morph into new services and solutions makes it easier for advisors and their clients to have a better experience." ~ Lori Hardwick[15:41] - "If you can build efficiencies and the power to help advisors to empower their end clients with more information, that will win the day. That is, having that transparent view across the board and having at least one place where you can see everything in one area and track where you are against your financial plan every day." ~ Lori Hardwick[27:34] - "If the advisors can relate to their clients about their relationship with money, that is the core to having that great trusting relationship. Advisors don't have to change their client's views on money. They need to understand it." ~ Lori HardwickLinks  Lori Hardwick on LinkedIn Red Rock Strategic Partners Orion Advisor Solutions Thunder by Imagine Dragons Riskalyze Nuveen Investments Envestnet Pershing Genstar Capital Cetera Financial Group Vestwell Brinker Capital BasisCode Hidden Levers Redtail Technology TownSquare Capital Snappy Kraken Daniel Crosby Korn Ferry Gavin Spitzner Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1539-OPS-8/24/2022

Diversification is vital to any investment portfolio. Exchange-Traded Funds (ETFs) have become one of the most popular vehicles for implementing a multi-asset strategy, as they offer broad diversification, low costs, and flexibility. As the industry trends continue to evolve, how can investors position themselves to capture potential upside in different market environments?In this episode, Rusty and Robyn talk with Michael Gates, Managing Director and Head of Model Portfolio Solutions in the Americas at BlackRock. In his role, Michael leads BlackRock's suite of Target Allocation and Target Income models and mutual funds. Morningstar has awarded the Target Allocation ETF and Long Horizon ETF models that Michael manages a gold medal.Michael talks with Rusty and Robyn about the ETF industry and model portfolios. Michael also shares his outlook for the overall ETF industry, why investors prefer ETFs to direct index solutions, and what Blackrock's multi-asset investment strategy entails.Key Takeaways [02:48] - How Michael got into financial services. [05:00] - How BlackRock has evolved over the years. [07:18] - Michael's outlook for the overall ETF industry. [09:30] - Why investors prefer ETFs to direct index solutions. [10:17] - The driving force behind the flow of mutual funds into ETFs. [11:26] - Michael's multi-asset strategy. [16:49] - Michael's rule of thumb when investing in alternatives and real assets. [18:34] - The tools BlackRock provides to advisors. [21:17] - Michael's thoughts on the possibility of a recession and how it might impact BlackRock's model portfolios. [25:44] - Michael's personal investment strategy. [27:44] - How Michael keeps his physical and mental health to perform well. [30:05] - Book and content recommendations from Michael. Quotes[08:11] - "ETFs are a big part of what financial advisors want to use because ETFs are reliable in terms of what they deliver, and they're low fees relative to legacy mutual funds." ~ Michael Gates[10:09] - "The ability to take and deliver in kind is something that you can only do with an ETF structure. It's not something you can do with the direct index." ~ Michael Gates[10:31] - "The trend that flows from mutual funds into ETFs is partly driven by the transition that we've observed of the brokers becoming advisors." ~ Michael GatesLinks  Michael Gates on LinkedIn BlackRock Taking Me Back by Jack White SteeleGates Rain, Steam and Speed by William Turner Larry Fink iShares Aperio Group BlackRock Aladdin Andrew Huberman Steve Jobs by Walter Isaacson Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1516-OPS-8/22/2022

The stock market is often seen as a place for high-risk, high-reward investments. But for those willing to do their research and take a more patient approach, there can be great rewards in investing in small-cap value stocks. Small-cap investing focuses on companies that have smaller market caps than most stocks. They tend to be more volatile but offer greater potential rewards.In this episode, Rusty talks with Michael Petro, Portfolio Manager at Putnam Investments. Michael has been in the investment industry since 1999 and joined Putnam Investments in 2002. In his role, Michael is responsible for the overall strategy and positioning of Putnam's small-cap value products. Michael talks with Rusty about investing in small-cap value stocks, how these stocks perform in different market environments, and how inflation impacts this fund.Key Takeaways [01:49] - How Michael entered the world of investing. [08:20] - Michael's investment philosophy and strategy mandate at Putnam. [10:59] - How small-cap value stocks perform in different market environments. [12:48] - What Michael thinks about the economy and the market. [16:02] - How inflation impacts small-cap value stocks. [19:22] - How Michael invests his own money. [21:14] - How Michael maintains his physical and mental health to perform at his best. Quotes[03:10] - "I learned a lot about business at a young age, and I'd like to bring some of that knowledge and experience with me to my investing." - Michael Petro[11:50] - "Small-cap value stocks do well in the broad middle of the cycle in normal times when the economy is growing because there's a lot of opportunity in small-cap value stocks." - Michael Petro[13:11] - "The strength of the consumer balance sheet keeps us out of recession." - Michael PetroLinks  Michael Petro on LinkedIn Putnam Investments Life's Been Good by Joe Walsh Massachusetts Institute of Technology University of Michigan Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1496-OPS-8/18/2022

There are many different schools of thought when it comes to investment strategies. Some people invest based on stocks, others on cryptocurrency. And then some invest in gold. Gold has been used as a form of currency and investment for centuries, and it’s still a popular choice today. How can investors own gold and include it in their portfolios?In this episode, Rusty and Robyn talk with Maxwell Gold, Head of Gold Strategy at State Street Global Advisors. Before joining SSGA in July 2019, Maxwell served as the Director of Investment Strategy at Aberdeen Standard Investments, heading macroeconomic and commodity thought leadership for its $3B U.S. ETF business. Today, Maxwell talks about the gold-based investment strategy, how gold can be used in an investment portfolio, and the risks and rewards associated with such an investment.Key Takeaways [03:36] -  What drew Maxwell to specialize in gold investments. [04:51] - Maxwell's outlook for the gold market for the rest of the year. [06:53] - Should gold be considered for a permanent strategic allocation and investment portfolio? [09:54] - How gold diversifies market risks. [14:00] - How investors can own gold. [17:29] - Comparing silver and gold investments. [21:44] - Maxwell's view on digital gold, such as Bitcoin and cryptocurrencies. [25:55] - How Maxwell keeps his physical and mental health to perform at his best. Quotes[07:22] - "Gold is a unique asset class. It has a low negative correlation to stocks, bonds, and other alternative assets over time." - Maxwell Gold[11:47] - "When you look at gold and evaluate it as an asset class, it's unique and very distinct. It's hard to replicate the exact factors or risk exposure it provides compared to any other asset class out there." - Maxwell Gold[12:55] - "The real power and benefit of gold ‘inflation hedge’ comes from monetary inflation and gold's ability to serve not as an inflation hedge per se but much more as a store value asset and ability to preserve spending power, particularly over the long run over several years, if not longer." - Maxwell Gold Links  Maxwell Gold on LinkedIn State Street SPDR ETFs Gold on the Ceiling by The Black Keys Merrill Lynch JP Morgan Money For Nothing by Thomas Levenson Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1357-OPS-8/1/2022

To maintain a successful business, advisors need to have a system to manage client relationships. That is where a CRM or Customer Relationship Management system comes in. CRM provides a centralized place for advisors to store and track customer data, automate tasks, manage interaction, and cultivate relationships. In addition, CRM provides valuable insights that advisors can use to improve their business operations.In today's episode, Rusty and Robyn talk with Kate Guillen, Founder and Lead Trainer at Simplicity Operations Management. Kate has been working in the financial services industry since 2014 in a client service and operations capacity. In 2017, Kate joined an RIA as the Operations Manager. To streamline the firm's operational procedures, Kate utilized their Redtail CRM to standardize the team's systems for managing daily tasks, their calendar, the sales pipeline, and a proactive client service schedule.Kate talks with Rusty and Robyn about the world of CRMs (Customer Relationship Management) and how advisors can use these systems to get organized, stay on track, and build their businesses.Key Takeaways [02:48] - How Kate used Redtail CRM to manage her business. [05:46] - Kate's thoughts on Orion Advisor Solutions' acquisition of Redtail. [06:54] - What is CRM? [09:12] - CRM's role in advisors' day-to-day operations. [11:04] - The value of using CRM as a centralized hub. [12:33] - How CRM can be used to manage sales pipelines. [15:47] - How CRM can help advisors manage the inflow and stay organized. [18:09] - The benefits of automating tasks for advisors. [19:54] - How CRM automation feature helps advisors take time off. [21:04] - What tech stacks are and how they relate to CRM. [23:41] - How Kate maintains her mental and physical health to perform well. Quotes[08:29] - "Your CRM should be the hub of your practice and a one-stop shop to see everything going on for your clients, tasks, activities, new revenue opportunities, and accounts." - Kate Guillen[17:52] - "Workflows are a fabulous way of not having to reinvent the wheel every single time you go to do whatever the repeatable process is." - Kate Guillen[18:35] - "As a business owner, you want to know that your clients are being served by your team as well as you would serve them. And so, creating workflows, processes, and procedures that standardize how you handle whatever the request ensures that. It's repeatable and nobody has to recreate a process." - Kate GuillenLinks  Kate Guillen on LinkedIn Simplicity Operations Management Don't Stop Me Now by Queen Redtail Technology Brian Towner Ben McKenzie Hayley Mandrup Calendly Zapier Pulse360 Hubly The Game with Alex Hormozi Financial Advisor Success Podcast The Advisor Lab Podcast Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1265-OPS-7/19/2022

As people live longer and market uncertainty increases, the need for informed retirement portfolio spending strategies is becoming more important than ever. In this episode, Rusty and Robyn talk with Colleen Jaconetti, a Senior Investment Analyst at Vanguard Investment Strategy Group. Colleen is responsible for establishing and overseeing the investment philosophy, methodology, and portfolio construction strategies used to support Vanguard's advisory services, products, and strategies. With over 25 years of experience in the financial services industry, her areas of expertise include portfolio construction and financial planning, specializing in retirement planning topics, retirement income solutions, and wealth management strategies.Colleen talks with Rusty and Robyn about Vanguard's research paper, From Assets to Income: A Goals-Based Approach to Retirement Spending. Colleen speaks about interesting topics around the goals-based retirement approach, the four factors that affect people's ability to spend funds from their portfolios, and how investors should consider taxes when planning to withdraw funds.Key Takeaways [02:41] - Colleen's role at Vanguard. [04:21] - Why investors should read Vanguard's paper, From Assets to Income: A Goals-Based Approach to Retirement Spending. [05:22] - How a goals-based retirement approach outperforms a traditional retirement spending strategy. [06:22] - Four factors affecting people's ability to spend their portfolios. [10:16] - Risks associated with income-focused investing. [12:43] - How investors should consider taxes when planning to withdraw funds. [15:41] - Colleen's personal investment strategy. [17:00] - How Colleen maintains her mental and physical well-being to perform at her best. [17:53] - A list of Colleen's favorite books. Quotes[05:02] - "It's important for retirees now, especially with the dynamic spending that as there's market volatility, some retirees may be tempted to reach for yield. In addition, some retirees are asking, can I afford to retire? How much can I spend in light of some of the recent performances in the market?" - Colleen Jaconetti[06:46] - "When developing a prudent spending rule, the goal for many retirees is to bounce current spending with the potential for future spending, bequest, or other goals." - Colleen Jaconetti[12:01] - "We try to tell retirees that overweighing dividend-paying stocks are high-yield bonds. For the sole purpose of increasing cash on the portfolio, the income approach can put their principle at higher risk than just spending from it." - Colleen JaconettiLinks  Colleen Jaconetti on LinkedIn Vanguard Chicken Fried by Zac Brown Band From assets to income: A goals-based approach to retirement spending Be Where Your Feet Are: Seven Principles to Keep You Present, Grounded, and Thriving All Insights | Insights | Vanguard Advisor Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 1268-OPS-7/19/2022