Orion's The Weighing Machine

Creating personalized investment portfolios tailored to individual clients' unique needs and preferences has gained traction in the financial industry in recent years. As investors become increasingly savvy and demand more control over their investments, traditional approaches to portfolio management are no longer enough. Custom indexing is a powerful strategy that financial advisors can use to differentiate themselves and build stronger, more loyal client relationships.In this episode, Rusty and Robyn talk with Andrew Rosenberger, Head of Custom Indexing at Orion. In this role, Andrew oversees the management and monitoring of all investments under Orion's custom indexing offering. He is focused on delivering tax-optimized solutions to help financial advisors build customized client portfolios, emphasizing tax efficiency and tax transitions. Before joining Orion, Andrew served as a Senior Portfolio Manager for Brinker Capital's Wealth Advisory Team, where he was responsible for portfolio management, strategy planning, and communication of multi-asset class portfolios for high net-worth clients and institutions.Recognizing that custom indexing solutions are an effective means for financial advisors to solve clients' complex problems, Andrew talks about why custom indexing has gained popularity over the past few years, how it differs from other solutions, and why it works for investors.Key Takeaways [03:47] - A brief history of Andrew's career in wealth management. [06:34] - How custom indexing differs from direct indexing. [07:42] - What clients gain from custom indexing. [11:16] - What makes tax harvesting a value-add for clients. [13:34] - Why custom indexing isn't right for all investors. [15:17] - A few examples of custom indexing being used successfully. [18:47] - Why direct indexing has gained popularity over the past few years. [22:14] - The biggest challenges direct indexing faces in the future. [23:32] - What investors are most concerned about with custom indexing. [24:51] - How custom indexing affects active management. [26:36] - Andrew's favorite investment idea. [30:00] - How Andrew maintains his ability to perform at a high level. [32:30] - Andrew's recommendation for content. Quotes[19:28] - "Many asset managers left out of the ETF renaissance are looking at direct indexing as a way where they don't have to be just a commoditized ETF but can now add some value to a client." ~ Andrew Rosenberger[25:22] - At Orion, we're trying to help change the narrative that custom indexing is just another version of an ETF that we have to compete against, but rather as a partnership." ~ Andrew Rosenberger[26:23] - "As we continue evolving the custom indexing narrative, people will think of it more as a technology rather than a replacement or substitute for traditional active managers." ~ Andrew RosenbergerLinks  Andrew Rosenberger on LinkedIn Misirlou by Dick Dale Brinker Capital Stephen Wolfram What Is ChatGPT Doing… and Why Does It Work? Orion Custom Indexing Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0739-OPS-3/14/2023

There has been a growing interest in sustainable investing over the last few years as investors seek to invest in companies and initiatives prioritizing environmental, social, and governance factors. Along with this trend, alternative investments have become popular for non-traditional investment opportunities. Meanwhile, ETFs have provided investors with a convenient way to invest in a diversified portfolio of stocks, bonds, and other assets. But what potential lies in the intersection of sustainable investing, alternative investments, and ETFs?In this episode, Rusty talks with Eric Mueller, Managing Director, Model Portfolio Strategist at BlackRock. For over 15 years at BlackRock, Eric worked closely with investment teams and portfolio managers to help clients reach and achieve their objectives. Today, Eric focuses on model portfolio business in the U.S., working closely with financial advisors and their clients.Live at the Orion Ascent Conference, Eric talks with Rusty about Exchange-Traded Funds (ETFs) and ETF portfolios. They also speak about the market outlook, sustainable investing, and the role of alternative investments.Key Takeaways [01:46] - Eric's career history and his role at BlackRock. [02:25] - The elevator pitch for BlackRock ETF strategies. [03:52] - The strategies that would complement BlackRock's ETF strategies. [05:08] - What the future holds for ETFs. [06:13] - The growth rate of ETFs in the years ahead. [07:33] - The fastest-growing part of the ETF industry. [09:32] - How investors can make their portfolios more tax-efficient. [10:59] - How BlackRock defines sustainable investing. [13:09] - How BlackRock incorporates ESG investing into its portfolio. [15:11] - Eric defines alternative investments and how investors should use them. [17:51] - BlackRock's outlook for stocks, bonds, real assets, and alternative investments. [20:23] - Eric's favorite investment strategy. [21:13] - What Eric does to maintain his ability to perform at a high level. [22:12] - The people Eric is professionally thankful for. [23:32] - Eric's recommendation for content. Quotes[05:33] - "We're still in the early innings of investors truly recognizing ETFs' power as building blocks in a portfolio, whether it's the cost-effectiveness, liquidity, transparency, or specificity you can get as a model portfolio manager or asset allocator." ~ Eric Mueller[08:15] - "The trend of model managers, asset managers, wealth managers, and building portfolios with ETFs are some of the most significant trends we will continue to see over the coming years." ~ Eric Mueller[09:17] - "As you look at the market environment around us that is so dynamic and ever-changing, ETFs are a great way to make changes to the portfolio without incurring substantial costs along the way." ~ Eric MuellerLinks  Eric Mueller on LinkedIn BlackRock Sirius by The Alan Parsons Project iShares Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0675-OPS-3/7/2023

The issue of global debt has been a source of concern for policymakers, economists, and investors alike. While it's easy to get lost in the numbers and statistics, it's important to understand the implications of the growing debt on the economy. How can investors make informed decisions and optimize their investment portfolios to minimize the risks associated with global debt?In this episode, Rusty talks with Phillip Toews, Founder and CEO of Toews Asset Management. Phillip's management strategies focus on creating "investor-friendly" products designed to meet investors' economic and behavioral needs. Phillip is also the Founder and CEO of the Behavioral Investing Institute, an organization devoted to helping advisors manage investor behavior through market challenges.Live at the Orion Ascent Conference, Phillip talks with Rusty about the hidden implications of record global debt and what investors should be thinking and doing about it. They also speak about why tactical investments make sense for many investors, not only because of the potential market in economic conditions but also due to behavioral reasons. Moreover, Phillips explains the words bezzle, bezzle burst, and bezzle fizzle and why they should be considered part of the investing lexicon.  Key Takeaways [03:21] - Phillip's professional history and the origins of Toews Asset Management.  [05:03] - The strategies that complement Toews Asset Management's models. [07:14] - What Phillip's presentation, The Hidden Implications of Record Global Debt, is about. [09:29] - Why no one talks about global debts today. [11:30] - The implications of debt on the economy. [13:03] - How Phillip explains the chart showing U.S. wealth relative to GDP. [13:58] - What bezzle burst and bezzle fizzle mean. [15:44] - How to restore balance from high debt. [20:34] - Phillip's outlook on financial oppression, bezel burst, and bezzle fizzle. [25:58] - Why behavioral portfolios can be an all-season investment strategy. [29:57] - What investors should look for in an adaptive fixed income strategy. [33:10] - Phillip's thoughts on trend following. [36:49] - An overview of the Behavioral Investing Institute. [38:03] - What the Toews Asset Management national holiday is all about. [40:07] - Phillip's favorite investment strategy. [42:08] - How Phillip maintains his physical and mental health to perform at a high level. [43:33] - What Phillip learned from his mentors.  [44:50] - Phillip's recommendations for content. Quotes[08:10] - "We are at a full stop. Unprecedented levels of global debt are taking place in the government sector. The U.S. and many vast economies have around 100% of GDP and about 150% of GDP if you combine non-financial corporations and private debt." ~ Phillip Toews[10:45] - "When you look at the consequences of debt, economists tend to underestimate the effect of the buildup of debt on the positive implications on the economy when it's growing. Then they always tend to underestimate the impact during falling markets as well." ~ Phillip Toews[27:11] - "The behavioral portfolio is a construct we built as a part of our behavioral investing institute that attempts to not leave the ranch. It attempts to stick to its relatively conventional construct in terms of your allocation to stocks and bonds." ~ Phillip ToewsLinks  Phillip Toews on LinkedIn Toews Asset Management Behavioral Investing Institute I Wanna Be Sedated Episode 53: The Orion Due Diligence Process with Phil Toews Episode 76: The Behavioral Portfolio Design with Felipe Toews Carnegie Foundation Market Wizards: Interview with Top Traders Dan Kullman Daniel Crosby Brian Portnoy Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0673-OPS-3/7/2023

In today's business landscape, success is not solely dependent on products or services. Instead, the combination of people, culture, and technology drives business success. This trifecta of factors plays a crucial role in shaping the trajectory of any organization, influencing everything from employee productivity and customer satisfaction to innovation and long-term growth.In this episode, Rusty and Robyn talk with Brian McLaughlin, President at Orion Advisor Tech. Prior to Orion's acquisition in June 2022, Brian was the CEO and Co-Founder of Redtail Technology, where he worked closely with advisors, broker-dealers, and industry partners for nearly two decades. Through innovation and cooperation, Brian's touchstone has always been to make the industry a better place for those who depend upon it. He is passionate about the CRM-driven solutions Redtail Technology provides to the financial services community and enjoys getting his hands dirty to pursue continuous innovation.Having the desire to improve CRM-driven solutions, Brian talks about culture and technology. He explores how advisors can use technology to enhance and support their businesses, select the best investment solutions, and increase engagement in client satisfaction.Key Takeaways [03:25] - How Redtail Technology came to be. [08:05] - How the merging of Orion and Redtail Technology came about. [11:57] - Brian's definition of culture and why it's so important to an organization. [14:17] - How Brian adapted to the merging of Orion and Redtail's cultures. [16:46] - Brian's goals and objectives for building a fintech ecosystem. [19:20] - The qualities Brian looks for in teammates and creators. [21:17] - The power of integration and connected technology.  [23:30] - What the Redtail Campaigns is all about. [25:36] - What Redtail Speak is and how it works. [29:05] - How advisors can best serve their clients in the current market environment. [30:49] - The most vital piece of fintech in 2023. [33:17] - How technology can increase client engagement and satisfaction. [39:25] - The cool stuff Brian does as a tech nerd. [41:46] - How financial advisors can use technology to identify and select investment opportunities.  [43:40] - Brian's favorite investment idea. [45:51] - How Brian keeps his energy up to perform at his best. [47:43] - The people Brian is professionally thankful for. [49:04] - Brian's recommendations for content. Quotes[12:01] - "Culture is the foundational element of any successful business. We have to have core values that everybody can relate to in the organization to help drive us when times are challenging or even when times are good." ~ Brian McLaughlin[22:36] - "The power of integration is simplification, so you get back to what's really the most important thing. For an advisor, that's the client relationship and spending all their money and time there." ~ Brian McLaughlin[33:40] - "Technology is designed to make the advisor's life easier. It's meant to make their business operate easier." ~ Brian McLaughlinLinks  Brian McLaughlin on LinkedIn Brian McLaughlin on Twitter Redtail Technology All I Do Is Win Eric Clarke Redtail Campaigns Snappy Kraken Orion Risk Intelligence Speak - Redtail Technology Orion Connect BasisCode Compliance Wondrium Aaron Klein Spenser Segal Tony Leal Skunk Works Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0652-OPS-3/2/2023

Inflation is a term that has been on everyone's lips recently. For investors and policymakers alike, staying on top of the latest trends in the inflation market is essential for making informed decisions about their investments and financial strategies. In this episode, Rusty and Robyn talk with Michael Ashton, a.k.a. The Inflation Guy. Michael, Managing Principal at Enduring Investments, is one of the pioneers in U.S. inflation market innovation. Since 2003, Michael has played a role in developing the U.S. inflation derivatives markets and is a subject matter expert on inflation products and inflation trading. Before founding Enduring Investments, Michael worked in research, sales, and trading for several large investment banks, including Bankers Trust, Barclays Capital, and J.P. Morgan.Michael talks with Rusty and Robyn about inflation and economics from a trader's seat. He speaks about his inflation outlook, how people should think and respond to inflation, and what makes a good trader.Key Takeaways [03:32] - An overview of Michael's professional history. [05:36] - What Michael says about the current inflation environment. [06:43] - Michael's outlook for inflation for the rest of the year. [10:49] - How people should think about inflation. [11:28] - What Michael has to say about the Fed's efforts to combat inflation. [13:44] - Why the markets are more optimistic about inflation dropping right now. [16:08] - Michael's outlook on interest rates, stocks, and real assets. [19:38] - What the government debt levels mean for the economy and the markets. [24:39] - How investors should manage their portfolios in an inflationary environment. [28:57] - How investors and advisors should think about high-frequency economic data.  [31:05] - Michael's approach to using consensus expectations and surveys. [35:53] - What Michael meant when he said boredom is winning. [37:51] - How AI is going to change investing. [41:56] - What Michael advises people about consuming content. [45:05] - Michael's favorite investment idea. [47:06] - How Michael maintains his energy to perform at his best. Quotes[06:17] - "The inflation derivatives markets are pricing in that inflation would reach two and a quarter by June, and that's just not going to happen. Core inflation and median inflation will take a long time to get back to any semblance of what we thought and what used to be normal. And when I say a long time, I mean years." ~ Michael Ashton[10:50] - "The debate coming into this year wasn't whether inflation would decline as much as the market thought. The question was, when does everyone realize that inflation won't be 2% by the middle of the year?" ~ Michael Ashton[24:55] - "One of the things that happen when you get to higher inflation, in addition to having more volatile inflation, is all of the financial variables get more volatile. You need to diversify more than you otherwise would have in real assets, particularly commodities." ~ Michael AshtonLinks  Michael Ashton on LinkedIn Michael Ashton on Twitter Enduring Investments Cents and Sensibility: The Inflation Guy Podcast Lampshades on Fire by Modest Mouse J.P. Morgan Barclays Corporate and Investment Bank Deutsche Bank John Huston Trinity University The Magnus Archives Inflation Guy Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0584-OPS-2/23/2023

Succession planning is essential for any organization to ensure its long-term sustainability and success. However, creating a successful succession plan is not as simple as identifying potential leaders and hoping for the best. What are the steps that organizations need to take to develop a robust and effective plan? In this episode, Rusty and Robyn talk with Eric Godes, Senior Vice President and Senior Consultant at FP Transitions. Eric has been a pioneer in the wealth management industry. At Fidelity Investments, he helped to launch the first-ever ever home stock trading system. Also, he founded one of the country's first Registered Investment Advisors, Kobren Insight Management. At FP Transitions, Eric works with financial advisory firms across the country to help them reach all their goals, including internal and external solutions.A longtime leader in the wealth management industry, Eric talks with Rusty and Robyn about succession planning and how it works. He also speaks about the foundation of a successful succession plan, the compensation structure, and finding the right partner.Key Takeaways [04:08] - Eric's career history in wealth management and what led him to FP Transitions. [06:58] - An overview of Eric's role at FP Transitions. [08:27] - How Eric defines succession planning. [10:07] - The elements of an internal succession plan. [13:02] - The foundation of a successful succession plan. [14:27] - How a firm's compensation structure impacts an internal succession plan. [15:38] - What advisors should know about synthetic or phantom equity. [17:35] - The qualities to consider when designing a successor team. [19:33] - What good revenue growth looks like in an internal succession plan. [21:30] - The current market drivers for succession planning. [22:48] - The alternatives firms can use if their internal succession plan isn't well-positioned. [23:25] - How advisors can find the right succession planning partner. [27:45] - How consolidators fare in the M&A market. [31:55] - Eric's favorite investment strategy. [33:16] - How Eric maintains his ability to perform at a high level. [34:52] - The people Eric is professionally thankful for. [37:33] - Eric's recommendations for content. Quotes[08:57] - "Succession planning is a thoughtful, well-planned transition from one generation to the next. It doesn't happen at the moment, but it's usually a lengthy process." ~ Eric Godes[13:22] - "A stronger, growing, and thriving business will be more attractive to successors. It's also going to help them afford the succession plan financially." ~ Eric Godes[17:45] - "The first thing most owners would think about is, ‘does my potential successor have the same value set that I have?’ It's hard if you're not thinking similarly about the clients, the business, and what's best about servicing the clients." ~ Eric GodesLinks  Eric Godes on LinkedIn FP Transitions Don't Look Back by Boston Fidelity Investments Charles Schwab TD Ameritrade Pershing E*Trade David Grau Pathstone Seeking the Extraordinary The Colony Group Michael Kitces How I Built This with Guy Raz The Perfect Fit Succession Planning Course Corrections Acquisition Readiness Self-Assessment Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0476-OPS-2/15/2023

When it comes to investing, the stakes are high. One bad decision can mean a loss of money, time, or opportunity. While there are many products and strategies an advisor can access and implement, how can they find the best ones to ensure their clients avoid costly mistakes and maximize their returns? In this episode, Rusty and Robyn talk with Christopher Hart, Head of Investment Due Diligence at Brinker Capital. In his role, Chris oversees all investment products that advisors can use within their client portfolios. These include interviewing managers and talking to analysts to make sure they're doing what they say they will. He is responsible for ensuring the quality of all investment products curated by Orion and Brinker. With over a decade of experience in due diligence in the investment industry, Chris talks with Rusty and Robin about why due diligence is an important step in building an investment portfolio, how to choose a manager or a strategy, and how Orion's due diligence process is different from other firms.Key Takeaways [03:18] - Rusty's review of the market. [06:01] - Chris' professional background and what brought him to Brinker Capital. [08:01] - What it's like to be the head of investment due diligence. [09:02] - Why due diligence is important in building an investment portfolio. [10:53] - Chris and his team's due diligence process. [14:52] - The amount of work Chris and his team put into due diligence. [17:09] - The time it takes for a new strategy to become available to investors and advisors. [18:03] - The qualities Chris looks for in an investment manager. [21:38] - What a successful investment strategy looks like. [23:32] - What causes an investment strategy to be removed from the platform. [25:55] - How Chris' due diligence process differs from other investment firms. [28:22] - The five P’s of due diligence. [30:41] - How due diligence has evolved over time. [33:22] - What investors and financial advisors look for in a due diligence manager. [35:13] - What Chris looks for in an analyst. [38:01] - The person who influenced Chris' investment philosophy. [39:33] - Chris' favorite investment strategy. [41:23] - How Chris maintains his physical and mental health to perform well. [43:02] - The people Chris is professionally grateful to. [45:14] - Chris' recommendations for content. Quotes[09:36] - "There are so many products out there for advisors to access, and they could spend all day looking at them, reading about them, and trying to figure out which is the best to use in portfolios for their clients. Our job is to filter that universe and bring that universe down to a manageable number." ~ Christopher Hart[10:15] - "Time is everyone's most precious commodity. Anything we can do to save advisors time and help them deliver better client outcomes is the central tenet of what we're trying to accomplish." ~ Christopher Hart[27:25] - "Many due diligence firms will pass along fact sheets, pitchbooks, and explainers of how a particular manager does what they do. What a lot of firms are lighter on is opinion around whether they think what those firms are doing is good or bad. And we make a conscious effort to weave that opinion in our guiding star reports." ~ Christopher HartLinks  Christopher Hart on LinkedIn Brinker Capital Sweet Child O' Mine by Guns N' Roses River Road Asset Management The London Company Jeremy Siegel Stocks for the Long Run The Future for Investors A Wealth of Common Sense Ben Carlson Mutual Fund Observer Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0482-OPS-2/15/2023

Exchange-traded funds, or ETFs, have become increasingly popular as investors look for a simple, diversified, and cost-effective approach to investing. While ETFs provide a convenient way for investors to gain exposure to a wide range of assets, in what direction is the ETF market headed in the future?In this episode, Rusty and Robyn talk with Eric Biegeleisen, Partner and Deputy Chief Investment Officer at 3EDGE Asset Management. In his role, Eric is responsible for the research operations at 3EDGE. His research focuses on discovering and exploring the interconnectedness of global capital markets through quantitative and qualitative analyses. Under Eric's leadership, 3EDGE has significantly enhanced its proprietary global capital markets model.Having a goal to steward 3EDGE's relationships with ETF managers to help bring new products to market, Eric talks with Rusty and Robyn about the ins and outs of exchange-traded funds (ETFs), the projected growth, and how they stand up against direct indexing. Eric also shares some of the opportunities ETF offers in the investment industry.Key Takeaways [02:59] - Eric's path to becoming 3EDGE Asset Management's Deputy Chief Investment Officer. [04:29] - How 3EDGE Asset Management serves private and institutional clients. [07:15] - How 3EDGE Asset Management constructs portfolios. [09:14] - What makes 3EDGE different from its competitors and peers. [10:28] - Eric's outlook on exchange-traded funds (ETFs). [11:32] - The pros and cons of investing in ETFs. [12:32] - How 3EDGE can compete against the big proprietary ETF providers. [15:01] - Eric's take on direct indexing being a threat to ETFs. [16:05] - The 3EDGE view on the stock market for 2023. [19:10] - Eric's tactical strategies for international equity. [21:57] - The strategy Eric uses to diversify assets. [25:11] - One of Eric's favorite investment strategies. [26:11] - How Eric maintains his energy and ability to perform at a high level. [27:11] - The people Eric is grateful for professionally. [28:36] - Eric's recommendation for content. Quotes[07:42] - "Behaviorally, investors can act as a herd, whether in a virtuous or vicious way. We need these behavioral factors to identify the real short-term potential changes." ~ Eric Biegeleisen[10:49] - "The ETF space continues to grow as it siphons off assets from other wrappers and large mutual funds. As new money folds in as it's gotten even larger, institutional dollars roll in." ~ Eric Biegeleisen[11:39] - "The pros (of ETFs) are a long list: transparent, low cost, tax efficient. There are over 1,700 listed ETFs in the U.S. alone, so there are exposures to nearly everything one would want." ~ Eric BiegeleisenLinks  Eric Biegeleisen on LinkedIn Eric Biegeleisen on Twitter 3EDGE Asset Management Thunderstruck by AC/DC Stephen Cucchiaro Charles Schwab Windhaven Investment Management BlackRock Vanguard State Street Global Advisors Bob Phillips The Peter Attia Drive Podcast The Dawn of Everything: A New History of Humanity Never Finished: Unshackle Your Mind and Win the War Within Think Again: The Power of Knowing What You Don't Know Power and Prediction: The Disruptive Economics of Artificial Intelligence The Origin of Wealth Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0141-OPS-1/19/2023

Direct indexing is becoming one of the fastest-growing strategies in wealth management. This strategy involves creating and maintaining a portfolio that tracks the constituents of a benchmark index, such as the S&P 500. As direct indexing allows investors to customize and tailor their portfolios around specific investment interests and weight holdings according to their preferences, the trend of financial firms acquiring fintech platforms for their direct indexing technology is on the rise.In this episode, Rusty and Robyn talk with Art Lutschaunig, Co-Founder and CEO at Parti Pris Investment Partners. Art brings almost 40 years of financial industry experience to his position at Parti Pris. In his leadership role, Art calls upon his extensive experience and expertise in designing, building, and implementing large-scale wealth management organizations, services, and products to drive the development of Parti Pris’ services dedicated to portfolio personalization on behalf of financial advisors.Art talks with Rusty and Robyn about what financial advisors and investors need to know about direct indexing, the future of fintech and managed accounts, and his outlook on the current market.Key Takeaways [04:47] - How Art got started in the financial services industry.  [13:38] - The story behind the name Parti Pris Investment Partners. [15:35] - What financial advisors and investors need to know about direct indexing. [20:21] - Why the advisory community favors direct indexing strategies. [26:05] - How technology simplifies portfolio management for advisors. [32:46] - How the managed account business can be improved. [37:44] - The qualities Art is looking for when hiring people. [42:34] - Art's advice for people thinking about starting their own business. [45:16] - What Art thinks about the current market. [51:41] - How Art maintains his physical and mental health to perform at his best. [55:33] - The people Art is professionally thankful for. [59:17] - Art's recommendations for content. Quotes[27:43] - "We're driving technology to simplify the complex for the advisor. And Orion is one of the fintech firms creating lots of technology to provide seamless integration and simplify the advisor's ability to run a practice and a portfolio."  ~ Art Lutschaunig [29:08] - "Our technology is getting to the point where we can acquire data, manage data, create security and data, create information out of data, and integrate across multiple constituent parts to offer a better, more simplified way for an advisor to implement their portfolios and practices." ~ Art Lutschaunig[41:54] - "Every time you look at a problem, flip the pancake. When you run into a problem, turn it upside down and see if the answer is on the other side of the pancake.  ~ Art LutschaunigLinks  Art Lutschaunig on LinkedIn Parti Pris Investment Partners I'm Comin' Home by Robert Earl Keen Bill Eigen Fidelity Investments Morningstar Russell Investments Washington University in St. Louis Fidelity Advisor Funds and Strategic Advisers Funds CLS Investments Aperio Group Vanguard Joe Smith When Things Fall Apart: Heart Advice for Difficult Times The Soul of A New Machine Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 2472-OPS-12/21/2022

In today's economy, investors face both challenges and opportunities. With global events, changing interest rates, and market volatility impacting the investment landscape, it's more important than ever to stay informed and educated on the industry's most pressing issues.In this episode, Rusty and Robyn talk with Paula Wieck, Vice President and Senior Portfolio Manager at Commerce Trust Company. In her role, Paula comprehensively represents the firm's research and goals-based investment process, from initial assessment and creation of an investment objective to ongoing evaluation and adjustments based on changing market and life circumstances. She serves clients with thought leadership, insight, and consulting services.With knowledge of the market and experience in investment management, Paula answers some of the toughest issues in the investment industry today. These include questions about why investors should invest in the stock market despite the recession just around the corner, why rising interest rates are good for investors moving forward, and how to communicate effectively with clients.Key Takeaways [03:34] - Paula's journey to becoming a vice president and senior portfolio manager. [05:06] - Commerce Trust Company's investment philosophy. [05:59] - Paula's economic outlook. [07:32] - What Paula's typical day looks like. [09:14] - How client communication for investment managers has changed over time. [12:00] - Paula's favorite approach to communicating with clients. [14:27] - Paula's thoughts on what makes a good advisor. [16:32] - The qualities that make a good client. [17:26] - The advice Paula gives to people interested in becoming investment professionals. [21:52] - How women can accelerate their involvement in the investment industry. [24:07] - Why people should invest in the stock market during a recession. [27:40] - Why bonds fail to protect investors in a bear market for equities. [32:17] - Why rising interest rates are good for investors moving forward. [33:55] - Paula's investment strategy for clients who fear entering the market. [35:59] - Paula's favorite investment idea. [36:49] - How Paula maintains her energy and ability to perform at a high level. [38:11] - Some of the people Paula is grateful to professionally. [41:01] - Paula's recommendations for content. Quotes[17:51] - "Always stay eager and hungry to learn, and never feel like a project or task is below you. Always look for ways to make things more efficient." ~ Paula Wieck[26:58] - "It's impossible for people to time the market precisely on both sides very well. So you hurt your returns over the long term by missing those best days that are close to the worst days. Stay invested." ~ Paula Wieck[33:24] - "Our projections show that the loss we experienced in bonds will recoup around the end of 2025 or early 2026, just from the reinvestment. The older bonds with lower yields will be able to be reinvested in bonds with much higher yields, and that'll be beneficial and be a good time for conservative investors again." ~ Paula WieckLinks  Paula Wieck on LinkedIn Commerce Trust Company Lose Yourself by Eminem CLS Investments J. P. Morgan Morgan Stanley Is market timing worth it during periods of intense volatility? | J.P. Morgan Asset Management Compelling People: The Hidden Qualities That Make Us Influential Presence: Bringing Your Boldest Self to Your Biggest Challenges Tim Michel Thomas "Buzz" Willard The Psychology of Money Atomic Habits Tiny Habits A Wealth of Common Sense Animal Spirits Podcast Weighing the Risks Podcast Standard Deviations with Dr. Daniel Crosby Can't Hurt Me: Master Your Mind and Defy the Odds Connect with our hosts Rusty Vanneman Robyn Murray Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts 0116-OPS-1/17/2023