Billion Dollar Backstory

Most advisors aim to put their clients first. But, many fall short by leaning on status quo strategies - like 60/40 - that don’t necessarily serve their people in the best way possible.  Today’s guest has built not one, but two billion-dollar businesses. By asking “why not?” and differentiating his investment strategy, $3B RIA founder Dick Phister chose the smart move over the simple move, even when it wasn’t easy to execute (or explain to clients).  Ready to challenge the status quo? Listen in as Dick and Stacy discuss: ●      His backstory – how finding his dad’s gold coins sparked his passion for finance ●      Why he and his partners built a firm that pioneered the movement of democratizing alternative investments●      How storytelling has helped him attract clients and teammates who align with his unique approach to investing ●      Why he believes anyone (even left-brained quants) can master storytelling with the right training  ..and so much more.  About Dick Pfister: Dick has over 25 years of experience in the wealth advisory and financial services with an emphasis on diversifying traditional portfolios with alternative strategies. In 2015, he founded AlphaCore, which has become a leading wealth advisory firm. He serves as AlphaCore’s CEO and managing member of the Investment Committee.  Dick provided investment insight to the San Diego Foundation Investment Committee, the USD Emerging Leaders Council and served as a board member for Voices for Children, a charity focused on helping foster children throughout San Diego. He is also a member of the iCapital Advisory Council. Dick and his wife, Kristi, have three children and reside in La Jolla.Resources Mentioned in This Episode: Songs: Eye Of The Tiger - Survivor Books: The Obstacle Is The Way By Ryan Holiday , Perennial Seller by Ryan Holiday

A founder's journey never truly ends. Sometimes, that feels like a blessing and a curse, all at once. Hearing 'no' over and over again gets old!  Today, Tim Welsh, founder of boutique consultancy Nexus Strategy, joins Stacy to talk about why the double-edged sword of foundership is more of a blessing than a curse. While Tim’s initial journey as a founder was behind him, he raised his hand to go back to the basics to get his latest idea off the ground.  Now, "The Wealthies" serves as his example of starting over - or starting fresh - to create something great as a multi-talented founder.  Ready for a healthy dose of motivation and advice that’ll make the startup grind a lot easier? Listen in as Tim and Stacy discuss:  Advice for any founder that’s shying away from founder-led sales The true cost of bootstrapping your fundraising The interplay between software and companies and RIAs   About Tim Welsh:Timothy D. Welsh, CFP® is President, CEO and founder of Nexus Strategy, LLC, a leading consulting firm to the wealth management industry.  Prior to founding Nexus Strategy, Tim was Director of Business Consulting Services for Schwab Advisor Services Tim is frequently quoted in the wealth management media on a wide range of business management and industry topics. He is the author of a number of industry white papers, a regular columnist for RIABiz, ThinkAdvisor, and wealthmanagement.com, and is a frequent speaker at industry conferences and events. Tim earned a bachelor's degree in Economics from the University of California, Berkeley and an MBA in Finance from the University of Colorado’s Leeds School of Business. Fun facts about Tim Welsh: He met Vanna White and Pat Sajack backstage at a taping of the Wheel of FortuneHe ran the New York Marathon He won an ESPN (show producers) fantasy football league 3 timesResources Mentioned in This Episode: Song: Third Eye Blind - Semi-Charmed LifeBook: Seabiscuit: An American Legend by Laura Hillenbrand, George Newbern, et al. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Discover how Equilibrium Wealth Advisors achieved $420 million AUM by using non-traditional marketing strategies like specializing, rebel playbook for success, and fresh client acquisition tactics. Learn about Matt Blocki's journey from finance to founding EWA, workplace challenges in the financial sector, and the evolution of wealth advisor training. Dive into the transition to business ownership, finding inspiration in personal happy places, and reflections on dream professions and legacy in the industry.

Fund managers, it’s time to ditch the pitch deck of doom. It’s not helping you differentiate. It’s putting allocators to sleep. Take it from Lucy Walker, Founder of data platform AM Insights, who spent the bulk of her career as a manager of managers allocating over $1B at specialist firm Sarasin Partners in the UK.She knows this business inside and out, and Today she’s sharing her wisdom on up-leveling your meeting game so you can land more investments. Listen in as she and Stacy discuss: Her Backstory – from corporate allocation to launching her company Inside the mind of a fund-buyer: what makes a fund manager stand out to herWhy you should dig into data but not use it as a crutch in meetings The competitor bashing Achilles heel – how to show your differences to the peer group tastefully About Lucy Walker:Lucy Walker is founder, chair, board director and advisor in investment management, technology and not-for-profit.In 2020 she founded AM Insights, a fast and intuitive tool for the fund industry. She is Chair of the Aurora Investment Trust, and Senior Independent Director of Henderson International Income Trust. She is a former head of fund research and fund manager at Sarasin & Partners, advising on over £1.2 billion of assets for charities and high net worth individuals, and before that was at HSBC Global Asset Management. Lucy has been regularly featured in publications including the FT and The Telegraph, and was shortlisted for Fund Manager of the Year at the Women in Investment awards. She holds BSc Economics and is a CFA charterholder. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Ever wondered how the giants in financial advisory scale? Today, join Stacy and Scott Colangelo, Chairman and Managing Partner of Prime Capital Investment, a $30B powerhouse, for an exclusive look behind the scenes. Listen in as they discuss: His backstory – what he learned about from watching his dad succeed in financial management after starting from ground zero How your ego can stifle your boutique's success Collaboration strategies that could 10X your RIA’s potential. The role of products in organic growth …and so much more. About Scott Colangelo: Scott Colangelo is the Chairman and Managing Partner of Prime Capital Investment Advisors (PCIA), and the creator of Qualified Plan Advisors (QPA). Forward-thinking in the financial business, Scott is responsible for the strategy and growth of these companies. When Scott’s not working hard for his clients and team, he is spending time traveling with his family. “The concept of work-life balance, unfortunately, doesn’t happen often enough in our business. But our team approach provides a support system that allows us time to be with our families.” Scott holds a Bachelor of Science degree in finance with a minor in marketing from Kansas State University, as well as FINRA Series 7, 63, and 66 registrations. In his own words, his two hobbies are basketball and golf, “although I’m not very good at either.” ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Fund managers, buckle up! In Part 4 of 'The Scientist and The Storyteller' series, Dr. Daniel Crosby, a behavioral psychologist is back and ready to tell you the cold hard truth about why your brain might be sabotaging your storytelling game. Listen in as he and Stacy discuss: Why our brains cling to conformity, killing our chances of standing out Why linear stories put people to sleep and how mastering the ‘peak-end’ rule will help A sniff test that’ll help you determine if your story is snooze-worthyA roadmap for spicing up your narrative, even when your brain screams 'No!' ..and so much more. About Dr. Daniel Crosby:Dr. Daniel Crosby is a psychologist, behavioral finance expert, and New York Times bestselling author who helps organizations understand the intersection of mind and markets. He is also a father of 3, a fanatical follower of the St. Louis Cardinals, an explorer of the American South, and an amateur hot sauce chef.  ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

If you’re a talented fund manager you’ve probably asked yourself, “Should I start an investment boutique?” at some point or another. And I get it - the idea of being an entrepreneur sounds incredible. And there’s nothing that will fill you with more pride (and fear) than going out on your own. But before you jump ship, it’s crucial to ask yourself the RIGHT questions about whether being a founder AND a fund manager is for you.That’s why in this episode, we’ll explore the five essential questions every talented fund manager should consider before starting their own firm. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Let’s be real: boutique building is no walk in the park; it's a rollercoaster of gutsy moves and unexpected comebacks. Today, we’re sitting down with a guest who knows all about that. Meet Sean Peche, a value investing specialist who's transitioned from the $35B big leagues to crafting his own firm. In this episode, Sean and Stacy unpack: His Backstory – how a volatile market led him to put his boutique-building dream on hold His inspiring comeback story The secrets behind Sean's unique marketing playbook for differentiation.The philosophy that drives Sean's investing approach: 'numbers not narrative.'The sweet spot where numbers and narratives intersect, especially for startups. …And so much more. Grab your notebook and get ready for a masterclass on differentiation, branding, and building a boutique.  About Sean Peche: Sean holds a Bachelor of Business Science (Honours) and a Post Graduate Diploma in Accounting from the University of Cape Town and is a CFA® charter holder. Sean has more than 25 years of investment experience in global financial markets. After qualifying as a Chartered Accountant in 1996, Sean spent two years at Old Mutual Asset Management (South Africa) as an equity analyst. In 1999, he joined Decillion Capital as one of its founding members and co-managed the successful BigRock Fund, a South African-based hedge fund. In 2001, he relocated to London with Decillion Fund Management and co-managed a US/European hedge Fund. In 2003, he joined London-based Orbis Investment Advisory as an equity analyst, before leaving in 2008 to establish Ranmore Fund Management Ltd.Resources mentioned in this episode: Books: The JSE Handbook, The Zulu Principle by Jim Slater, The Magic of Thinking Big by David J. Schwartz, Blue Mind by Wallace J. Nichols   Songs: Kelly Clarkson - Stronger (What Doesn't Kill You), Kelly Clarkson - The Sun Will Rise  ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Building a boutique is no cake walk. But it’s easier to stay on the grind when your mindset is in check. Today’s guest, Michael Futterman – the brains behind leadership development for mammoth asset managers (think $600B+ industry giants) and coach for emerging fund managers is just the guy to help you get into a headspace that’ll allow you to edge ahead in this tough race. Listen in as he dives deep into: The neuroscience of celebrating small winsTips to beat burnoutWhy team management is crucial for scalingMindset tips for embracing your role as a leader (even if that’s not what you signed up for) Tune in if you’re ready for an epic business coaching session that’ll level up your mindset so you can play the long game in this challenging space. About Michael Futterman:Michael Futterman is an Executive Coach, Team-building Consultant, and Training Professionalwith more than 20 years of corporate experience. Michael has worked in the management consulting and financial services sectors helping to identify, compartmentalize, and overcome human capital and strategic challenges. Most recently, Michael was the head of the Knowledge Labs team at Janus Henderson Investors, a worldwide asset management firm.Today, Michael’s focus is on working with clients who want to constructively challenge their status quo in both their business and personal lives. Helping clients examine their habits, break down and reframe unproductive thought patterns, and develop more profitable and satisfying behaviors is at the core of his practice. Keynote Speaking, Training and Development, Coaching, and Consulting are all part of his offering.Michael earned his BA from Ithaca College and his MA in Organizational Psychology from Columbia University. He lives in Boulder, Colorado with his wife Marina and his sons Noah and Jacob.Resources mentioned in this episode: Books: Do Hard Things by Steve Magnus  Be the Hero by Noah Blumenthal , Wealth 3.0 by James Grubman PhD, Dennis T. Jaffe PhD, Kristin Keffeler MAPP   Song: Frank Zappa - Watermelon In Easter Hay  ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Meet Robin John, the CEO of Eventide, a $6B asset management firm.  Robin and his co-founder defied the odds, launching Eventide in 2008 with no track record, no assets, but unwavering belief. 15 years and $6B dollars later, we know they were onto something. Listen in as he and Stacy discuss:  ●      His backstory – How watching his mother do meaningful work in the world as a nurse taught him the value of purpose and impact early on ●      How he stayed rooted in his mission and defeated the odds in the early days of launching his boutique ●      Common misconceptions about activism and how he does it differently  …and so much more.  This is a real-life David vs. Goliath story that's both gritty and uplifting – every investment boutique and investor will learn something valuable from Robin’s story.  About Robin John: Robin John serves as a Founding Member and Chief Executive Officer of Eventide. He is responsible for the overall leadership of the organization, and under his leadership, the firm has grown into a leader within values-based investing.  Prior to Eventide, Mr. John held leadership roles for Bank of New York Mellon. He has also served as a business consultant for Grant Thornton. He has a degree in Economics from Tufts University.Resources mentioned in this episode: Books: Blue Mind: The Surprising Science That Shows How Being Near, In, On, or Under Water Can Make You Happier, Healthier, More Connected, and Better at What You Do Songs: Eminem - Lose Yourself ---Eventide Asset Management, LLC (“Eventide”) is a Boston based investment adviser. All statistics as of 9/30/23 unless otherwise noted. Nothing in this podcast should be construed as a recommendation or offer to purchase or sell or a solicitation to deal in any security or financial product. Eventide does not provide tax, accounting, or legal advice. Eventide's values-based approach to investing may not produce desired results and could result in underperformance compared with other investments. There is no guarantee that any investment strategy will achieve its objectives, generate profits, or avoid losses. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap