Informed Choice Radio Personal Finance Podcast

Unless you've been living under a rock for the past few years, you're probably familiar with bitcoin and it's rollercoaster ride for cryptocurrency speculators. I've resisted covering crypto on this podcast for a number of reasons. Most of the so-called expert guests put forward to speak on the subject are anything but. The last thing I want is to give a platform on this podcast to someone who might convince a listener to part with their hard-earned cash and speculate on something as worthless as bitcoin, or another digital coin. My views on bitcoin are pretty well known, but I have got time for its underlying platform, the blockchain. That's why, when I came across today's guest Robert Koenig, I was excited to have an informed conversation about the really useful applications of this new technology. Robert has lived in several European countries, speaks multiple languages and is a passionate believer in modern management technologies. His experience and knowledge of leadership has led to appearances on several television programmes. Since 2015 Robert has been involved in Cryptocurrencies, investing in ICOs and shaping the industry from the application point of view. His business XENTAVO emerged in 2015, and the company was founded in 2017. They've come a long way in a short time since then, designing a unique blockchain-powered platform offering civil service innovation to Small Countries around the world. The XENTAVO team is supported by advisors comprised of the crypto industry’s best, brightest and most passionate. They've got decades of collective experience in building and implementing digital projects on a governmental level. The XENTAVO team share a vision to make blockchain applications accessible and beneficial to Small Country governments across the world. Here’s my conversation with Robert Koenig, blockchain solutions for small countries, in episode 347 of Informed Choice Radio.

The financial technology, or fintech, sector is booming. Entrepreneurs, bankers, consultants, investors and asset managers are scrambling for more information: Who are the key players? What's driving the explosive growth? What are the risks? My guest on the podcast today is Susanne Chishti, CEO of FINTECH Circle, Europe’s first Angel Network focused on FinTech opportunities. Susanne is also co-editor of “The FINTECH Book”​ — a crowd-sourced book on FinTech globally. Recognised in the European Digital Financial Services ‘Power 50’ 2015, an independent ranking of the most influential people in digital financial services in Europe, Susanne was selected in the top 15 FinTech UK Twitter influencers and as "City Innovator - Inspirational Woman 2016". Susanne is an entrepreneur and investor with strong FinTech expertise. She has more than 14 years’ experience across Deutsche Bank, Lloyds Banking Group, Morgan Stanley and Accenture in London and Hong Kong. The fintech market captured over $14bn in 2014, a three-fold increase from the previous year. New startups are popping up at an increasing pace, and large banks and insurance companies are being pushed toward increasing digital operations in order to survive. The financial technology sector is booming, which makes understanding some of the key issues so important. Here’s my conversation with Susanne Chishti in episode 346 of Informed Choice Radio.

Today on the show, I'm joined by my colleague Andy Bodman, paraplanner at Informed Choice and soon to be financial planner, to get a millennial's view of financial planning. Everything you wanted to know about younger people's attitudes towards money, investing and retirement, but were afraid to ask. You've come to the right place!

What good is excellent advice if you don't follow it? As a financial planner, I know that when my advice goes unimplemented, the well-being of my clients is compromised, opportunities are lost, and the professional relationship grows strained. My guest on the podcast today has written an excellent new book, taking aim at the problem of financial non-adherence. Dr Moira Somers is a leading practitioner in the field of financial psychology and financial change. A neuropsychologist, professor and executive coach, she blends the science and art of advice-giving with practical wisdom and wit. Through her popular keynote addresses and follow-up seminars she works with financial professionals and organizations around the globe, equipping them to give easy-to-implement advice that captures clients' hearts and minds. Moira's new book, Advice that Sticks, examines the five main factors that determine whether a client will follow through with financial advice. Individual client psychology plays a role in non-adherence; so, too, do sociocultural and environmental factors, general advice characteristics, and specific challenges pertaining to the emotionally loaded domain of money. Perhaps most surprising, however, is the extent to which advice-givers themselves can foil implementation. A great deal of non-adherence is due to preventable mistakes made by financial professionals and their teams. I think this episode is equally as important for financial practitioners as it is for investors who take advice from others. We've tried to balance the conversation to provide value to both advice givers and advice takers. Here’s my conversation with Dr Moira Somers in episode 344 of Informed Choice Radio.

Interest rates went up this week, for only the second time in nearly a decade. In this episode, we're looking at the factors behind the rate rise decision and what it means for your personal finances. There's also a roundup of the latest personal finance news, and some updates from the world of Informed Choice this week.

How does money figure into a happy life? In his new book The Geometry of Wealth, behavioral finance expert Dr Brian Portnoy delivers an inspired answer to this important question. He builds on the critical distinction between being rich and being wealthy. While being rich can be described as an unsatisfying treadmill, being wealthy is the ability to underwrite a meaningful life, however one chooses to define that. Truly viewed, wealth is funded contentment. At the heart of this groundbreaking perspective, in his book Portnoy takes readers on a journey toward wealth, informed by disciplines ranging from ancient history to modern neuroscience. He contends that tackling the big questions about a joyful life and tending to financial decisions are complementary, not separate, tasks. Brian Portnoy, PhD, CFA, is an expert at simplifying the complex world of money. His insights and advice are driven by a passion for teaching and investing, and based on a 25-year career in both money management and academia. Brian is the Director of Investment Education at Virtus Investment Partners, a diversified investment company with $80 billion under management. He leads the firm's thought leadership initiatives on sound investing and smarter decision-making for both financial advisers and individuals. He's also worked throughout the hedge fund and mutual fund industries, having held senior strategy, investment, and research roles at Chicago Equity Partners, Mesirow Financial, and Morningstar. Here’s my conversation with Brian Portnoy, about how to shape a life of money and meaning, in episode 342 of Informed Choice Radio.

In this episode, I’m looking at the a new Treasury Committee report about household finances. We’ve got high levels of debt and low levels of savings; and the government think they can do more to help us. And if you believe that, you’ll believe anything! There’s also a roundup of the latest personal finance news and the aftershow segment, where I share what I’ve been up to and what we’re doing at Informed Choice right now.

For almost 50 years the simplest investment solution was often the best. A balanced portfolio of stocks and bonds provided most investors with a comfortable retirement. Unfortunately, this approach is now unlikely to work. Retirement is longer, private company pensions are a thing of the past and interest rates are at historic lows. Investors need a new plan and a new approach to organising their investments. My guest on the podcast today is Russ Koesterich, Managing Director and portfolio manager for the Global Allocation team at BlackRock. Russ is an industry veteran with more than 23 years’ experience in asset allocation and portfolio construction. In this episode we talk about asset allocation; the art of combining different investments to build a portfolio aligned with your objectives and respectful of your limitations. Asset allocation is so important because it's the driver of investment returns. In his new book, Portfolio Construction for Today's Markets, Russ addresses the current issues with asset allocation by describing the step-by-step approach to building a portfolio consistent with investor goals and suited to today’s market environment. This is what we cover in the podcast episode today and it's well worth a listen for all investors, especially those investing for retirement. Here’s my conversation with Russ Koesterich in episode 340 of Informed Choice Radio.

In this episode I'm talking about resolving problems with your financial adviser or financial planner. My inspiration for this episode came from two places. Firstly, a Sky News article with the title Ex-GP hired hitman on dark web to kill financial adviser after losing £300k, court hears. Secondly, our annual regulatory fee invoice arrived this week. So I'm thinking a lot about not only the cost of financial services regulation, but also the different mechanisms for resolving problems and making sure you're not out of pocket if you have problems with your financial adviser or financial planner. In this episode I share five steps you can take to prevent and resolve issues with your financial adviser or financial planner.

Earlier this year, Melinda Gates wrote in an op-ed published in Quartz that she and her husband, Bill Gates, would be donating $170 million to empower women all around the world economically. Gates later wrote that the research indicated that economic power was “the most promising entry point for gender equality.” She and many others believe that when women have economic power, they can write their own rules and reshape how things operate. This goes from the household to the business world. Did you know women business owners get only 16% of all small business loans, only 4.4% of all dollars lent, and less than 3% of all venture capital funding? Several reasons are put forth on why this happens, such as women picking low-growth industries, lender/investor bias against women, too few female VCs, etc. But according to Barbara Vrancik, a financial consultant and my guest on the podcast today, who specializes in helping female CEOs become more financially savvy, these reasons alone can’t account for the huge disparity between men and women. Barbara Vrancik has been a trusted professional in the finance industry for more than 30 years. During her time as a corporate finance partner with a prestigious New York law firm, she represented many of the largest financial institutions on Wall Street. As a finance industry insider who sat on both sides of the table, she is now bringing her extensive experience to small business. Today, Barbara is a financial consultant who works primarily with female business owners helping them become more financially competent, confident and compelling in business. She is a trusted advisor to her clients and valued for her confidentiality, commitment, integrity and objectivity. Barbara’s message is a simple, but powerful one: By understanding a few basic principles, implementing some sound finance strategies, and learning from an “insider” how the game is played, your business can win — and WIN BIG.