Standard Deviations with Dr. Daniel Crosby

Rusty Vanneman serves as the Chief Investment Strategist for Orion Advisor Solutions, where he is responsible for overseeing the investment strategies at Orion Portfolio Solutions (turnkey asset management program) and at Orion Advisor Technology (financial technology). Previously, Rusty was the Chief Investment Officer for Orion Advisor Solutions and prior to that was the President and Chief Investment Officer of CLS Investments. Before joining Orion in 2012, Rusty served as the Chief Investment Officer and Managing Director for a multi-billion RIA in the greater Boston area. His 11-year tenure at the RIA included a five-year span when the firm was owned by ETRADE Financial where he also served as the Senior Market Strategist for ETRADE Capital. Prior, Rusty was a Senior Analyst at Fidelity Management and Research in Boston.  Rusty received his Bachelor of Science in Management from Babson College in Wellesley, Massachusetts where he graduated with high distinction. He holds the Chartered Financial Analyst (CFA®) designation and is a member of the CFA Institute. He is also a Chartered Market Technician® (CMT) and is a member of the Market Technician’s Association (MTA). Additionally, Rusty authored the book “Higher Calling: A Guide to Helping Investors Achieve Their Goals,” and was named one of the Top 10 Portfolio Managers to Watch by Money Management Executive in 2017.* Rusty is also a host of Orion’s The Weighing Machine. https://open.spotify.com/show/7k80G94zq4W2fiAUmsuKAq *RUSTY VANNEMAN MONEY MANAGEMENT EXECUTIVE AWARD Chief Investment Strategist of Orion Advisor Solutions, Rusty Vanneman, CFA, CMT, was selected as a “Top 10 Fund Managers to Watch” in 2017 by Money Management Executive, while serving as Chief Investment Officer of CLS Investments (CLS), now a division of Brinker Capital Investments, which is a subsidiary of Orion Advisor Solutions. Money Management Executive is an unbiased, third-party publication covering the asset management industry. Money Management Executive chose the list of managers to watch by screening Morningstar data from funds with a single manager, ranked as having the best three-year annualized returns in their respective categories. The list of managers was published March 27, 2017. Money Management Executive is not affiliated with CLS. Ratings and awards may not be representative of any one client’s experience and are not indicative of CLS’s future performance. The CFA® is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. To learn more about the CFA charter, visit www.cfainstitute.org. The CMT Program demonstrates mastery of a core body of knowledge of investment risk in portfolio management. The Chartered Market Technician® (CMT) designation marks the highest education within the discipline and is the preeminent designation for practitioners of technical analysis worldwide. To learn more about the CMT, visit https://cmtassociation.org/. Tune in to hear: What does the collective mindset of investors look like coming out of such a difficult year? In a time with elevated stock valuations and potentially depressed fixed income returns, should we get a little weird with our asset allocation or stick to a traditional 60/40 portfolio structure? What are some takeaways from Rusty’s investing experience in 2020? What might the future of asset management look like in a landscape where markets are shifting so quickly? How is the process of selecting a good investment akin to the process of finding a good life partner and how is it different? If Orion was a band, what band would they be? Web: https://open.spotify.com/show/7k80G94zq4W2fiAUmsuKAq Twitter: @RustyVanneman Compliance code: 0708-OAS-3/1/2021

Phil is widely regarded as a thought leader in the asset management industry. As Founder & CEO of Exponential ETFs Phil raised $1.8 Billion in AUM in just over three years after launching the company from scratch. As Managing Director at NYSE Phil exceeded 90% market share of ETF listings. Phil is the author of two patents on innovative ETF structures, has led market structure enhancements that have become industry standard and pioneered new investment strategies into the market. Phil is featured regularly on top-tier media outlets such as the Wall Street Journal, Bloomberg, CNBC, Financial Times and Reuters. Phil holds the Chartered Alternative Investment Analyst (CAIA) designation and is the host of the ETF Experience and the Phil Bak Podcast. Tune in to hear: Why might the market be rallying in spite of the Coronavirus being worse than ever, unemployment rates at an all time high and political divisiveness is explosive? When is the right time to “check the math” on how enduring a factor is or something like discounted cash flows or fundamental analysis? How do we know when the world may have shifted so fundamentally, that certain market principles are no longer viable? The dangers of tying yourself entirely to quantitative and empirical methods of investing and what role “faith” might play in a successful investment strategy What are some potentially immutable principles of good investing? How humility plays a key role in a sound investment plan, regardless of your preferred approach to investing What are some potential upsides to reverse weighted ETFs? Phil started an ETF shop that he has since exited - what are some of the lessons he learned / takeaways and why does he consider it both a success and a failure? Web: www.signaladvisors.com Twitter: @philbak1 Compliance code: 0637-OAS-2/23/2021

An economist by trade, Hoda manages her company’s successful flagship portfolio. She also applies behavioral economics, data journalism and storytelling to their product development. Before starting her own company, Hoda worked as a strategist at Sony, Aimia and Symantec. Outside of the world of work, Hoda is a certified wine specialist who loves Rottweilers. Tune in to hear: What was Hoda’s “aha” moment that lead her to become a Fintech CEO? When did Hoda realize that awareness of behavioral bias is at the heart of sound investment strategies? What are some benefits to keeping an investment journal? If we’re playing devil’s advocate - what might a Fintech, that encouraged the worst possible practices, look like? As technologists, what responsibility do we have to maximize shareholder value vs. maximize value for the larger populace? How can technology be used to help us overcome our worst behavioral impulses? In investment, one can make a terrible decision, based on the information available and probabilities, and still come out on top. How can we entangle, or account for, those who make good decisions and get bad results and those who make bad decisions and get good results? Many active DIY traders show little aptitude in the market and often shoot themselves in the foot. What hope do DIY traders have and why did Hoda decide to focus on this niche within the greater market? Web: stockcard.io Compliance code: 0639-OAT-02/23/2021

Jean-Michel Pailhon is Vice-president at Ledger, the leading company in security solutions for crypto-assets, where he’s heading the company’s product initiatives. He joined Ledger in early 2017 when the company had 20 employees initially leading the finance, strategy and corporate development initiatives. Before that, Jean-Michel spent 15+ years in the financial industry, working for Euronext and then the New York Stock Exchange, where he held various management positions covering finance, strategy, fund management, M&A and IPO. Jean-Michel is a founding member of the French Fintech Startups Association (https://francefintech.org/en/) and is a lecturer in finance and strategy at ESSEC Business School and Pantheon Assas University (France). Tune in to hear: Why compelling use cases might be more critical than the price action for the healthy growth, and widespread adoption, of bitcoin and other crypto currencies 5 to 10 years from now might volatility in Bitcoin look more like US equities or is it more likely to remain a volatile asset throughout its lifetime? What does Jean-Michel see as the primary use case for Bitcoin? Bitcoin’s slow processing speed is one of its main drawbacks. Might there be something to remedy this, or will Bitcoin always be slow? Bitcoin is the most famous and popular cryptocurrency - is it likely that we will improve upon its design, ultimately being replaced, or is it likely to remain on top in a decade? What are some of the biggest looming threats to the growth of Bitcoin? Are regulatory risks among them? How interconnected are the fates of blockchain technology more broadly and Bitcoin and can one succeed without the other? What is DeFi (Decentralized Finance) and how can it add value? Compliance code: 0622-OAS-2/22/2021

Eric Clarke serves as CEO for Orion Advisor Solutions (Orion), helping advisory professionals operationalize their vision for success by delivering cutting-edge financial technology and investment management solutions through the organization’s brand entities: Orion Advisor Tech, Orion Portfolio Solutions, CLS Investments and Brinker Capital Investments. Prior to his current role, Eric was the founding CEO of Orion Advisor Tech, which he continues to lead, and previously served as COO for CLS Investments. As an industry-recognized though leader and advocate for advisory professionals, Eric has written numerous articles that have appeared in InvestmentsNews and The Journal of Financial Planning. Eric has received numerous industry awards including ThinkAdvisor’s IA25 in 2012 and 2019, and InvestmentNews’ Icon & Innovators Award in 2019. Eric earned his Bachelor of Science in Accounting from Brigham Young University and Master of Business Administration from the University of Utah. As an avid runner, Eric uses the solitude of his runs to think through business strategies and plan new scenarios to help advisors increase functional efficiencies and improve their businesses. Tune in to hear: How Orion grew from a family business in middle America to a huge player in the Fintech space Is asset management a largely solved problem, and where might future innovations take place in the world of asset management? What unique role will the social sciences play in informing investment strategies? What might be the role of advisors in the coming years if investment management is a solved, or at least simplified, problem? In a company with so many moving parts, how does Eric decide where to focus spending to grow? What is an underdog trend in Fintech with lots of potential? Do fintech companies have an ethical obligation to focus on UI that lead to prudent client outcomes? How can CEOs create a culture and maintain both cohesion and influence in the current work from home reality? Web: www.orion.com Compliance code: 0613-OAS-2/22/2021

Tune in to hear:What are some of the advantages of being a woman that make them uniquely suited to financial advising?How might some of women’s strengths, when overextended, become weaknesses or impediments to investing?In spite of women’s outperformance, surveys show that the general public believes men are better money managers. How can the financial industry begin to remedy this misunderstanding?Women, on average, are less confident in their ability to manage money than men. How can we narrow this confidence gap while still retaining women’s aptitude for care and research in investing?How can the financial services industry better meet the unique needs of women, both as investors and as clients?www.westpacwealth.com

Tune in to hear:How to keep your clients grounded in the present while making space for dreaming about future possibilities?Some takeaways from someone who grew up with conflicting money scripts / parental examplesWays we can become self-aware of detrimental financial habits that we take for grantedShould financial professionals be candid about their personal history and relationship to finance or might this hinder their ability to serve their clients’ interests?Are financial professionals trending towards a more holistic, personalized approach to wellness?Ways in which financial professionals can compete with machine learning and AIwww.chaulai.com

Samantha Russell is the Chief Marketing & Business Development Officer at Twenty Over Ten. Utilizing her background in Public Relations, Marketing and Client Relations, Sam focuses on helping new clients understand the value of their online presence and connecting them with the marketing tools and digital solutions they need to effectively manage their brand. Samantha was featured on Wealth Management’s “10 to Watch” and Investment News “40 Under 40” 2020 lists. Apart from her job, Sam enjoys cooking, running, hosting dinner parties and keeping up with her favorite podcasts - This American Life, Radiolab and Serial. Tune in to hear: Do marketers have an ethical obligation to use their powers for good? What is social marketing and what are some ways it can educate + help create a better world? What are some of the “pillars of success” shared by many timeless marketing campaigns? How true is the contemporary adage that “everyone is a brand?” If this holds true, how do we balance this reality with authenticity and candor? Are brands framing themselves more like personalities or trying to humanize themselves? How can brands navigate the thin line between being topical + seizing a moment vs. abusing their influence and taking advantage of a bad situation? What are the upsides and drawbacks to brands taking a particular political stance? www.twitter.com/samanthatwenty www.linkedin.com/in/samanthacrussell blog.twentyoverten.com

Tune in to hear:What are some of the unique fiscal or emotional challenges immigrants sometimes face?Nick’s perspective, as an immigrant, on “The American Dream”Why immigrants are often more inclined to entrepreneurial ventures than people born in the USAre there structural or systemic reasons why immigrants are often kept from more traditional forms of employment, choosing instead to forge their own path?How financial professionals can help clients balance financial best practices with their specific cultural sensitivitiesWhat are some unique challenges immigrant families face in becoming financially independent?What habits does Nick see in his immigrant clients that might strengthen the broader American money culture?Web: www.unitedwealthllc.com

Maddie has a Masters in Behavioral Science from the London School of Economics. She is the co-founder and director of Salient, which is a behavioral science consultancy, and she is head of membership at the newly formed Global Association of Applied Behavioral Scientists. Maddie also enjoys teaching yoga whenever she can. Tune in to hear: Western philosophy tends to think of the self as static and immutable, while Eastern philosophy thinks about the self in more contextual ways. Which conception of self is most conducive to self-growth or are there positive takeaways from both perspectives? In existential philosophy there is a thought that existence precedes essence. In practice, does it seem like we unearth a “true” self that has always been there, or do we shape and define our selves as we move through live? How do we scrape away the behavioral biases that keep us from seeing who we really are? Behavioral biases do serve a positive purpose when they aren’t over extended; they protect our ego and help us be self-confident. As we start to chip away at these, to get a more honest picture of our self, how do we push through the discomfort and desire to retreat from the uncomfortable truths we discover? What roles do others play in the road to self-discovery and what are some hallmark characteristics of someone in one’s life that can help them better understand themselves? Ideally one’s personality would inform the type of work they do, but is this a privilege that few can enjoy or is this in grasp for most people? How can one balance a desire to make systemic, global change and the equally important role of making micro resolutions that help those who are geographically and emotionally closest? #Maddie Quinlan #Existentialism #Existential Philosophy #Logical Fallacy #Logical Fallacies #Biases #Availability Bias #Self #The Self #Cognitive Biases Twitter: @maddiequinlan Web: www.thisissalient.com