Understanding the Misconceptions of Financial Planning

What does it take to manage a $60 billion wealth management firm while keeping investment strategies grounded in scientific thinking? In this episode, we’re joined by Don Calcagni, Chief Investment Officer at Mercer Advisors. Don chairs the firm’s investment committee and provides guidance on mergers and acquisitions, investment integration, and long-term strategic planning. His expertise spans fiduciary oversight, portfolio management, private equity, and financial mathematics. In our conversation, we discuss how his firm constructs client portfolios, engages with academic and industry experts, and leverages a factor-based investment approach. He also explains the importance of having an investment philosophy rooted in fiduciary principles and delves into how Mercer Advisors manages fiduciary oversight for billions of dollars in assets across thousands of families. Explore the details of portfolio governance and the role of the firms’s alternative investment platform space. Gain insights on value metrics, factor investing, and how Mercer works to provide a family-office experience for everyday clients. Tune in for a deep dive into portfolio construction and the evolving landscape of wealth management with Don Calcagni!

Key Points From This Episode:

(0:05:22) Learn about Mercer Advisors and the range of services it has on offer.

(0:07:10) Unpack Mercer Advisors’ approach and philosophy to portfolio construction.

(0:11:55) The Building Better Portfolio Summit and the purpose of the event.

(0:17:08) How the meetings are structured and the main takeaways from the last event.

(0:24:45) What topics cause extreme points of agreement and disagreement at the meetings.

(0:29:21) Find out how takeaways from the events are implemented into client portfolios.

(0:31:19) Mercer Advisors’ recently launched alternative investment platform space.

(0:40:23) Don shares valuable recommendations and advice for the average investor.

(0:42:23) Aftershow: the controversy surrounding the RBC options trading incident.

(0:49:57) Listener feedback, reviews, updates, and upcoming events.

Links From Today’s Episode: Meet with PWL Capital: https://calendly.com/d/3vm-t2j-h3p

Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Rational Reminder Website — https://rationalreminder.ca/ 

Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/

Rational Reminder on X — https://x.com/RationalRemindRational Reminder on TikTok — www.tiktok.com/@rationalreminder

Rational Reminder on YouTube — https://www.youtube.com/channel/

Rational Reminder Email — info@rationalreminder.caBenjamin Felix — https://pwlcapital.com/our-team/

Benjamin on X — https://x.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Cameron Passmore — https://pwlcapital.com/our-team/

Cameron on X — https://x.com/CameronPassmore

Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/

Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/ Mark McGrath on X — https://x.com/MarkMcGrathCFP

Dan Bortolotti on LinkedIn — https://linkedin.com/in/dan-bortolotti-8a482310/ 

Canadian Couch Potato — https://canadiancouchpotato.com/blog/ 

Don Calcagni on LinkedIn — https://linkedin.com/in/donald-calcagni-8104b546/

Mercer Advisors — https://merceradvisors.com/

‘Building Better Portfolios | 2023 Summit’ — https://youtu.be/TWYukQogQPA

Dimensional Fund Advisors — https://dimensional.com/

BlackRock — https://blackrock.com/

Avantis — https://www.avantisinvestors.com/

AQR — https://aqr.com

Carlyle — https://carlyle.com/

Royal Bank of Canada (RBC) — https://www.rbcroyalbank.com

Future Proof Festival — https://futureproofhq.com/festival/

Episode 316: Andrew Chen — https://rationalreminder.ca/podcast/316

Episode 323: Renting Versus Buying a Home in Canada 2005-2024 — https://rationalreminder.ca/podcast/323

Episode 325: Addressing 200+ Comments on Renting vs. Owning a Home — https://rationalreminder.ca/podcast/325

Papers From Today’s Episode: 

‘Portfolio Selection’ — https://doi.org/10.1111/j.1540-6261.1952.tb01525.x