Dakota Rainmaker Podcast

In this episode of the Rainmaker Podcast, host Gui Costin sits down with Steve Dunn, the Head of U.S. Distribution and Exchange Traded Funds at abrdn. The discussion opens with Steve sharing his journey into the financial services industry, noting that like many in distribution, his entry was somewhat accidental. Starting his career at Vanguard, Steve quickly recognized his passion for the client-facing side of the business and the investment aspects that kept him engaged. A pivotal moment early in his career occurred when a client introduced him to the concept of ETFs, sparking his interest and eventually leading him to a long and successful career in the space.Steve shares an anecdote about how a chance encounter at a conference connected him with iShares, a major player in the ETF market, which became a cornerstone of his career. Despite initial uncertainties, his move to iShares set the stage for nearly 25 years in the ETF business, leading him through roles at major firms like BlackRock, Deutsche, and eventually abrdn.The conversation transitions into Steve's approach to distribution. He highlights the importance of having a small, nimble team that is versatile and able to cover multiple areas. Rather than working in silos or by territory, Steve emphasizes the need for flexibility in distribution teams, ensuring that the right person is always matched with the right opportunity, regardless of geographical boundaries.Both Gui and Steve stress the benefits of not channelizing sales, a common practice in many firms. Steve explains that this approach allows his team to focus on client needs rather than rigid territorial rules, creating a more efficient and client-focused operation. He values collaboration and believes that the best results come when everyone works together to capitalize on opportunities.When discussing leadership, Steve describes his management style as one rooted in transparency, consistency, and compassion. He believes in creating an environment where team members feel supported but also held accountable. Each individual on his team is treated fairly, though not necessarily equally, as Steve tailors his approach to meet the unique needs of each team member. This personalized leadership style fosters trust and encourages his team to take initiative while knowing they have his support.A key topic in the podcast is the role of data in distribution. Steve points out that while there is an abundance of data available, the challenge lies in extracting actionable insights from it. He mentions that as distribution shifts to being more data-driven, it’s crucial for teams to have the skills to interpret data and apply it effectively to target clients and grow the business. Steve believes that using data effectively will allow smaller teams, like his at Abrdn, to compete and thrive in the market.Finally, Steve discusses the importance of communication, both within his team and with higher-level executives. He emphasizes constant, clear communication as a critical factor in keeping the team aligned and moving toward common goals, especially in a fast-paced, ever-changing industry like finance.

In this insightful episode of the Rainmaker Podcast, host Dan DiDomenico sits down with Shane Clifford, the Managing Director and Head of Global Wealth at Carlyle, to explore the intricacies of leading a global wealth business in the evolving financial landscape. The episode begins with an introduction to the podcast's mission—providing listeners with invaluable sales strategies from top industry executives—and a brief introduction to Dakota Marketplace, a comprehensive institutional and intermediary database designed for fundraisers.Shane Clifford, who brings over two decades of experience in the industry, shares his journey from his beginnings in Limerick, Ireland, to his current role at Carlyle. He details his career path, which includes significant stints at Merrill Lynch, BlackRock, Legg Mason, and Franklin Templeton, highlighting how each experience shaped his approach to business development and strategy, particularly in the alternative assets and financial services sectors.The conversation delves into Carlyle's current strategic focus under CEO Harvey Schwartz, emphasizing three primary areas: insurance, credit, and wealth. Clifford elaborates on Carlyle's transition from episodic fundraising to a more perpetual, evergreen vehicle approach, discussing the complexities and opportunities this shift presents. He also reflects on his leadership style, emphasizing the importance of personal connections and in-person interactions in building a cohesive and motivated team.Clifford provides practical advice on managing a global team, noting the challenges of differing market structures and the necessity of a robust CRM system. He stresses the importance of understanding team members' personal and professional motivations to foster a supportive and effective work environment. His leadership philosophy centers on empowering his team and ensuring authenticity in all interactions, particularly with clients.The episode also addresses the broader industry challenges, such as the low allocation to alternative investments in the U.S. compared to international markets, and the need for continuous education and adaptation in an ever-changing financial landscape. Clifford advocates for a hands-on approach, spending significant time on the road to connect with team members and clients, and highlights the value of hard work and dedication in distinguishing oneself in the industry.For aspiring professionals, Clifford advises focusing on work ethic and being present in the office to build relationships and gain mentorship. He underscores the importance of activity and engagement in sales roles, encouraging listeners to go the extra mile in their efforts.The episode concludes with Clifford's reflections on the future of Carlyle and the importance of surrounding oneself with a knowledgeable and diverse team. He shares his enthusiasm for his role and the firm, emphasizing the alignment between personal passion and professional success.

In the latest Rainmaker Podcast episode, host Gui Costin interviews Todd Myers, the Chief Operating Officer of Private Wealth Solutions at Blackstone. The discussion covers Todd’s impressive career, which spans from his beginnings in investment banking to strategic roles at Merrill Lynch, and ultimately to his position at Blackstone. Todd highlights the importance of discipline, analytical thinking, and client engagement, which have been pivotal throughout his career.Todd provides insights into Blackstone's success, attributing it to a culture of entrepreneurship and innovation instilled by founders Steve Schwarzman and Pete Peterson. Blackstone’s consistent investment process and team-oriented approach are key to its growth. A major focus of the conversation is Blackstone’s Private Wealth Solutions. Launched a decade ago, the private wealth channel now represents approximately a quarter of Blackstone’s $1 trillion in assets under management across Blackstone funds through March 31, 2024. Todd explains that educating financial advisors about alternative investments is crucial. This education helps advisors integrate these investments into client portfolios.Client-centricity is at the heart of Blackstone’s operations. Todd stresses the importance of understanding and performing for both institutional and individual clients. The firm continuously innovates by creating new products and expanding into new asset classes and geographies to meet evolving client needs.Communication and data utilization are essential to Blackstone’s success. Todd describes the firm’s structured communication practices, which include regular meetings to ensure alignment among geographically dispersed teams. Blackstone also leverages CRM tools to enhance client engagement and operational efficiency through integrated data intelligence.Todd’s leadership philosophy emphasizes respect, dignity, and empowering team members. He believes in fostering an environment where ideas win over hierarchy, promoting open debate and valuing every team member’s input. Todd advises young professionals to work hard, stay curious, and seek mentorship to thrive in the financial industry.

In this episode of the Rainmaker Podcast, Gui Costin, Founder and CEO of Dakota, hosts a special discussion featuring Jennifer Lundmark and Alex Catterick from Manulife Investment Management. Jennifer, Head of Institutional Distribution North America, and Alex, Senior Managing Director, Head of Alternative Investment Solutions, bring their extensive experience to the table, making this a unique episode with two guests from the same company.The episode kicks off with introductions. Jennifer oversees institutional distribution activities, covering both public and private market business development and investor relations. She leads a team focused on providing solutions for institutional investors and has a history with firms like American Realty Advisors and Goldman Sachs. Alex, on the other hand, manages the alternative investment solutions team, focusing on private markets and retail strategies. His background includes significant roles at HSBC, Barclays Wealth Management, and JP Morgan Private Bank.Gui explores the themes of leadership, communication, and best practices in distribution. Jennifer explains her team’s specialist model in North America, where sales professionals focus on specific asset classes, making them more effective when dealing with specialized asset owners. Alex discusses their generalist-specialist model, leveraging existing distribution channels to provide customized solutions to advisors and clients.The conversation delves into the importance of communication within sales teams. Jennifer emphasizes her biweekly team meetings and regular one-on-one sessions with direct reports to ensure alignment and address issues. Alex talks about building a global team and the need for consistent messaging and approach across different regions.A key topic is the integration of alternative investment solutions into existing sales processes. Alex highlights the challenge of selling through consultants and advisors and the importance of tracking and measuring efforts. Jennifer discusses the competitive nature of the institutional market and the need for differentiation through consistent marketing and unique solutions.The use of CRM systems, particularly Salesforce, is highlighted as crucial for managing relationships and ensuring effective communication. Jennifer shares a best practice of sending call notes to her entire team, fostering collaboration and dialogue. Alex talks about developing a process to make CRM usage more efficient for his team.Gui asks for advice for young professionals entering the industry. Alex emphasizes the importance of becoming a subject matter expert and being solutions-oriented. Jennifer highlights the value of networking and building relationships within the industry.The episode concludes with a discussion on challenges. Jennifer points out the difficulty of breaking into a crowded market and the need for differentiation, while Alex discusses the challenge of integrating his team into established distribution processes.This episode provides valuable insights into the strategies and best practices of distribution leaders in the financial industry, offering practical advice and a deeper understanding of the complexities involved in institutional and wealth management sales.

In this episode of the Rainmaker podcast, Gui Costin interviews Troy Chakarun, Managing Director and Head of Private Wealth and Alternative Distribution at Voya Investment Management. Troy discusses his journey from roles at Merrill Lynch and Bank of America to leading sales teams at Voya. He emphasizes the critical role of data in driving sales strategies and introduces his innovative roundtable approach, which enhances market intelligence and builds valuable relationships. Troy also explains Voya’s standardized sales process, the importance of effective communication, and the use of CRM systems to streamline operations. His leadership style, characterized by open communication and teamwork, offers valuable lessons for sales professionals. This episode is a must-listen for anyone looking to excel in sales leadership and data utilization!

The podcast episode of The Rainmaker Podcast, hosted by Dan DiDomenico, features TF Meagher, the Head of North America Institutional Distribution at Janus Henderson Investors. The episode provides insights into Meagher’s career, his leadership philosophy, and the strategies he employs at Janus Henderson to drive success in institutional sales.Meagher begins by sharing his background, mentioning his roots in the Chicago suburbs and his educational journey at the University of Illinois. He highlights his career trajectory, including roles at Aegon Asset Management and UBS before joining Janus Henderson in 2021. At Janus Henderson, he oversees a team of 20 people focused on institutional sales, consultant relations, and client management. He emphasizes the importance of teamwork and the client-first approach, which aligns with the firm’s mission and values under the leadership of CEO Ali Dibadj.Meagher discusses the sales process at Janus Henderson, noting the importance of being client-centric and the need for his team to be experts in the specific market segments they serve. This expertise allows them to understand and address the unique challenges of their clients, whether they are public pension plans, nonprofits, endowments, foundations, or family offices. He also mentions the balance between strategic and tactical sales plans, emphasizing the need to adapt to the macro-environment and client feedback.The conversation shifts to the internal communication and management practices within his team. Meagher highlights the use of a CRM system to capture client feedback and track sales activities, despite the general reluctance of salespeople to engage with such systems. He explains how leveraging data from CRM and AI can optimize their sales processes and enhance their ability to meet client needs. Additionally, Meagher stresses the importance of maintaining internal relationships across the organization to ensure efficient operations and client satisfaction.On leadership, Meagher advocates for a collaborative approach, focusing on team success rather  than  individual  achievements. He underscores the significance  of  staying in front of clients to maintain relevance and passion in the sales field. For young  professionals entering the industry, he advises developing a deep understanding of  investment products, fostering internal relationships, and outworking the competition.The episode concludes with Meagher’s reflections on the challenges in the current market environment, particularly the need for differentiation and the effective use of data to back up sales strategies. Overall, Meagher’s insights offer valuable lessons on leadership, client  engagement, and the importance of a data-driven approach in institutional sales.

Welcome to a detailed summary of the "Rainmaker Podcast" episode featuring Gui Costin and special guest Madeleine Sinclair, hosted by Dakota. In this episode, Gui and Madeleine delve into intricate discussions about sales strategies, team dynamics, leadership, and much more, tailored especially for professionals in sales and distribution roles.The episode kicks off with Gui Costin, the founder and CEO of Dakota, introducing the podcast's focus on sharing profound insights from leading sales and distribution executives. This session is particularly engaging as it features Madeleine Sinclair, the Head of Distribution for North America at Blue Owl Capital. Madeleine brings a wealth of experience from her previous roles at BlackRock and her comprehensive educational background with an MBA from NYU Stern.Madeleine begins by providing an overview of Blue Owl Capital, highlighting its growth in the alternative asset management sector and its expansive global presence with offices worldwide. Her personal journey from Kansas City to a leading position in a significant financial firm sketches a narrative of ambition, timely opportunity, and professional evolution.A significant portion of the conversation is dedicated to discussing the operational structure and sales strategies at Blue Owl. Madeleine outlines the organizational setup across various channels like wirehouses, regional independents, and RIAs. She emphasizes the importance of having a well-integrated team where each member plays a specific role, enhancing overall productivity and effectiveness in reaching and servicing clients.The sales process at Blue Owl, as Madeleine describes, is underpinned by a dual strategy of deepening relationships with existing clients and expanding the market by onboarding new producers. She mentions the use of "Market Activation Plans" which combine data analysis and strategic outreach to optimize sales efforts and team performance. The dialogue also touches on the importance of leveraging technology and data analytics to streamline processes and enhance decision-making.Leadership is another key theme addressed in this episode. Madeleine shares her philosophy of being a 'setup leader' who aims to empower her team by aligning their personal goals with the organization's objectives. Her approach emphasizes understanding and supporting her team's individual motivations and potential, fostering a culture of collaboration and collective achievement.Furthermore, the use of CRM (Customer Relationship Management) tools is discussed in depth. Madeleine compares CRM to the central nervous system of an organization, essential for managing relationships and operational efficiency. She advocates for a strategic use of CRM to not only store information but to actively guide sales strategies and client engagement.Gui and Madeleine conclude the podcast by discussing the critical role of communication within teams and the executive level. They highlight the importance of maintaining a regular and structured communication cadence to ensure everyone is aligned with the company’s goals and strategies.Overall, this episode of the Rainmaker Podcast provides invaluable insights into effective sales management, strategic planning, and leadership from a seasoned professional in the field. It serves as a resource for sales professionals looking to refine their strategies and learn from the experiences of industry leaders like Madeleine Sinclair.

In this episode of the Rainmaker Podcast, hosted by Gui Costin, we delve deep into the intricacies of sales strategies and leadership in the financial sector, featuring Phil Shankweiler, Managing Director at Starwood Capital. The episode kicks off with an introduction to Dakota Marketplace, a comprehensive database designed to streamline the fundraising process for investment opportunities.Phil Shankweiler shares his extensive background in sales and distribution, beginning with his early career at Hartford Funds and his pivotal role during the financial crisis. His journey from managing internal sales to leading significant fundraising initiatives provides a foundation for his current role at Starwood Capital, where he focuses on Private Wealth Solutions. Shankweiler's experience at PLANCO, a dedicated distributor and marketing firm, significantly shaped his approach to sales, emphasizing the power of storytelling in investment value communication.Throughout the conversation, Shankweiler discusses the evolution of his career and the sales strategies that have stood the test of time. He highlights the importance of aligning sales narratives with client needs and the critical role of resilience in sales. His transition to Starwood Capital marked a strategic move to leverage his expertise in building and managing sales teams focused on the Registered Investment Advisor (RIA) channel.The podcast explores the characteristics of the RIA channel, which differs markedly from traditional institutional channels due to its unique decision-making processes. Shankweiler outlines the strategic approach necessary for success in this space, including the recruitment and development of talent specifically skilled in investment knowledge and client communication.Further, the episode delves into the operational strategies at Starwood Capital, where Shankweiler leads a team dedicated to RIA engagement. He discusses the segmentation of markets, the challenges of gaining access to top-tier advisors, and the utilization of events and personal outreach to build relationships and present Starwood’s investment capabilities.In discussing the sales process, Shankweiler emphasizes the importance of structured communication and regular team meetings to align on goals, strategies, and the nuances of client interactions. He advocates for a comprehensive understanding of the sales funnel from prospecting to closing deals, underscoring the use of CRM tools to enhance efficiency and effectiveness.The episode concludes with Shankweiler sharing insights on leadership, emphasizing the need for a clear perspective and the ability to simplify complex concepts. His advice to young sales professionals stresses the lifelong commitment to learning and adapting to the evolving landscape of financial services.This insightful discussion not only sheds light on Shankweiler’s strategic approach to sales and leadership but also provides valuable lessons for sales professionals in any field looking to enhance their effectiveness and impact.

In this enlightening episode of the Rainmaker Podcast, Gui Costin hosts Jonathan Kingery, Senior Vice President and Head of US Wealth Management Sales at Franklin Templeton, offering a deep dive into the strategies that have shaped his successful career in investment sales. Kingery shares his journey from a financial advisor to a leadership role, emphasizing the unconventional paths that can lead to success in the financial industry. His insights are particularly valuable for those in investment sales, as he discusses the importance of adaptability and strategic pivots in one’s career.Kingery’s approach to leadership and team management is a central theme, focusing on effective communication and the structured use of CRM systems to enhance client relationships and operational efficiency. He stresses how a well-implemented CRM system is not just a tool but a crucial asset that can transform the way a company interacts with its clients and manages internal processes.For investment sales professionals, Kingery's detailed discussion on the integration of technology in sales processes, and his strategic outlook on team structure and client interaction provide actionable strategies that can be applied to optimize sales performance and client engagement.This episode is a must-listen for anyone in the field of investment sales looking to gain insights from a seasoned leader on building a successful sales strategy, leveraging technology, and leading a team effectively in the ever-evolving landscape of financial services. Kingery’s experiences and advice offer valuable lessons in enhancing sales techniques and improving team dynamics.

In the latest Rainmaker Podcast episode, Gui Costin, Founder and CEO of Dakota, sits down with Nick Wood from Baillie Gifford, exploring the intricacies of long-term growth investing and the power of the partnership model. Costin and Wood dive into the challenges faced in fundraising, emphasizing the podcast's aim to shed light on best practices and insights in a sector lacking public guidance.Wood shares insights into Baillie Gifford's ethos, a firm with a century-long legacy prioritizing innovative businesses poised for societal impact and significant returns. With $290 billion in AUM, Baillie Gifford's global footprint and commitment to long-term investments underline its success, especially in the U.S. market.The discussion further unravels the nuances of Baillie Gifford's team dynamics, client engagement strategies, and the unique benefits of its partnership structure, fostering stability and a shared long-term vision. Wood's leadership philosophy, emphasizing support, work-life balance, and the nurturing of strategic client partnerships, showcases the human element pivotal in finance.The episode is a testament to Baillie Gifford’s dedication to innovation and client-centric investment strategies. Listeners gain a comprehensive understanding of the strategic pillars that guide Baillie Gifford, making it a compelling episode for those interested in the intersection of investment wisdom and visionary leadership.