Avsnitt
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Sean dives back into the world of crypto, talking to Mike Reust, president at Betterment, and Jesse Proudman, Makara CEO, about Betterment's purchase of Makara. They discuss how important crypto has become to portfolios and Makara’s future plans.
Guest Bios:
Jesse Proudman is a Seattle-based entrepreneur. He founded Blue Box, which provided private cloud as a service based on OpenStack technology. The company was sold to IBM in 2015. In 2018, after leaving IBM, he founded Strix Leviathan, which builds an investment management platform for crypto currencies. In 2021, he founded Makara, which aims to make it more simple to invest in crypto by creating “thematic baskets” that can meet various goals and interests, such as the largest coins or emerging trends.
Mike Reust is president at Betterment. His goal is to lead the retail business at Betterment, helping deliver solutions to customers that wrangle the complexity of the American financial system. He has been with Betterment since 2016.
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In this episode, you’ll hear:
What are alternative investments and why are they so popular?How is fintech bringing down investment minimums?What are some of the most interesting investments available to clients?Are the investments only open to accredited investors?Are alt fintechs licensed by the SEC?How much do these platforms cost?Which clients are most suitable for alt investments?Related Article: Alts open up everything from Harlem Renaissance art to Japanese whisky
Guest Bios:
Rebecca Fine is the leader of Yieldstreet’s Art Platform, which includes Athena Art Finance and Yieldstreet’s newest asset class, Art Equity. She has served on the leadership team of Athena since its founding by The Carlyle Group in 2015. Rebecca has had a remarkable track record of success as a changemaker in many evolving roles, both before and after joining Yieldstreet in 2019.
Nick King is a finance and tech-driven founder of Vint. Nick started his career at an investment fund that managed $20 billion, where he learned to think, invest and build a business. He was inspired to launch Vint to democratize the wine and spirits industry, which has been historically inefficient and opaque.
Nick built a team of experienced sommeliers and launched the first SEC-qualified platform dedicated to wine and spirits investing. At Vint, Nick leads the fundraising efforts, sets the strategic vision, recruits top notch talent and manages day-to-day operations. He has a degree in financial economics from the University of Virginia. Outside the office, Nick is a fitness buff with boxing being his exercise of choice. He credits the real punches to his face with helping him put startup setbacks in context.
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Saknas det avsnitt?
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In this episode, you'll hear:
What are cash sweeps?Comparison of these portfolios with "regular" portfolios — how many millions did Schwab investors lose?What does it mean for robo-advisers writ large?What is the proper role of cash in a portfolio — how does it compare to Schwab’s methodology?The effect of inflation.What else is going on in the world of robo-advisers.A discussion on fees — the femur surgery metaphor.No free lunch.Related Article: How much does Schwab’s cash sweep really cost clients?
Related Article: Schwab hit with class-action complaint over cash sweeps
Guest Bios:
Laura Varas is founder and CEO at Hearts & Wallets, where she applies her experiences in participating in markets worldwide to create stronger connections between financial solutions and consumer needs. Laura is a thought leader who combines an in-depth knowledge of financial services with a proven ability to predict future trends.
Laura bridges the investing and marketing worlds with over 25 years of experience in retail finance, consumer packaged goods and strategy consulting. Prior to founding Hearts & Wallets, she held senior positions at Fidelity and Citibank, with earlier roles at Colgate-Palmolive, Grey Advertising and Mercer Management Consulting strategy practice.David Goldstone is the manager of research and analytics for Backend Benchmarking and The Robo Report™. He started his finance career in Shanghai working with the chief China analyst for Oppenheimer & Co. While living in China, he opened the office for DealFlow Media in Shanghai and organized their second international conference, where U.S. institutional investors were introduced to over 100 Chinese companies. Prior to joining Backend Benchmarking, David worked at First National Bank as a lender and financial advisor. In his role at Backend Benchmarking, he has established himself as a subject matter expert in the digital advice industry and has been quoted in WSJ, Barron’s and Money, among other publications. David graduated from Colorado College and is a CFA charterholder.
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In this episode, you'll hear conversations with:
Anthony Scaramucci about Bitcoin and why advisers must pay attention to cryptoKevin O'Leary about crypto and complianceMatt Hougan on the connection between crypto and advisersSarah Kunst on tech startups and the current landscapeRelated Article: SALT conference panel demystifies crypto custody concerns
Related Article: How crypto is attracting millennial millionaires to financial advice
Guest Bios: Anthony Scaramucci is Founder and Co-Managing Partner of SkyBridge focusing on marketing and business development. Prior to founding SkyBridge in 2005, Mr. Scaramucci co-founded investment partnership Oscar Capital Management, which was sold to Neuberger Berman, LLC in 2001. Earlier, he was a vice president in Private Wealth Management at Goldman Sachs & Co.
Kevin O'Leary is a famous TV host, investor, and author.
Matt Hougan, CIO, Bitwise. Previously CEO at Inside ETFs, Managing Director of Global Finance at Informa. Before that, CEO of ETF.com. Co-authored the CFA Institute's monograph on ETFs.
Sarah Kunst, Managing Partner, Cleo Capital. Cleo Capital is a thesis-driven fund focused on 3 key areas: The Future of Income, Complicated Consumer, and Decentralized Enterprise. We primarily lead rounds at Pre-Seed, working with amazing founders from day zero.
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In this episode you'll learn about:
The increased interest in risk.How biases of all kinds affect our interpretation of risk.The need for advisers to offer risk assessment.The technology tools helping advisers offer better and more appropriate risk measurements.Related Article: Fintech readies factor-based risk model for advisers
Related Article: Morningstar aims to rethink risk tolerance with new tools
Related Article: How to make risk management work for advisers
Guest Bios:
Jeff Schwantz is head of Morningstar’s advisor and wealth management solutions for North America. He leads strategic vision and execution of Morningstar’s solutions in support of broker dealers, registered investment advisors, wealth management organizations and online brokerage clients, collaborating closely with sales, marketing, product development and client service to deliver Morningstar’s data, research, tools, analytics, and investment management services.
Aaron Klein's career has largely been at the intersection of finance and technology. As co-founder and CEO at Riskalyze, he led the company to twice being named one of the world’s top 10 most innovative companies in finance by Fast Company Magazine. Aaron has served as a Sierra College Trustee, and in his spare time, he co-founded a school project for orphans and vulnerable children in Ethiopia. Investment News has honored him as one of the industry’s top 40 Under 40 executives.
As Orion’s Chief Behavioral Officer, Dr. Daniel Crosby is responsible for bringing behavioral tools, training, and technology to financial advisors to allow for the practical application of behavioral science. Crosby is a psychologist and behavioral finance expert who applies his study of market psychology to everything from financial production design to advisor-client engagement. He has more than 10 years of experience in the financial services industry and has published a number of bestselling books that serve as guides to building stronger advisor-client engagement with a focus on achieving better outcomes.
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Related Article: Alternative investment sales skyrocket in 2021
Guest Bios:
Milind Mehere: Serial entrepreneur, builder, thinker, angel investor, husband, and father. Milind is the Founder and CEO of YieldStreet and is on the mission to change the way wealth is created. A serial tech entrepreneur, he founded YieldStreet on the simple belief that everyone, regardless of their net worth, should have access to make the most of their money. Prior to YieldStreet, Milind spent nearly a decade scaling Yodle from $0 to $200M in revenue and employing more than 1,400, while helping hundreds of thousands of SMBs market their businesses online. Yodle was acquired by Web.com (Nasdaq: WEB) for $342M in 2016. Milind has a track record in building large scalable businesses and delivering life-changing products to underserved markets. Milind shares knowledge of investment and tech trends, company growth, building great teams, fundraising, and fan-favorite, fine whiskey. When Milind is not working, you can find him watching the Patriots with his son, traveling with his wife, reading non-fiction, and running in Central Park while listening to his favorite podcast, Hidden Brain.
Lawrence Calcano is Chairman and CEO of iCapital Network. He began advising and working with iCapital shortly after its 2013 founding to lead key strategic and business development initiatives. Lawrence was a partner at Goldman, Sachs & Co., where he spent 17 years, most recently serving as the co-head of the Global Technology Banking Group of the Investment Banking Division. He serves on the Boards of the Mental Health Association of New York City and Capitol Acquisition V, a Special Purpose Acquisition Company. Lawrence was named to the Forbes Midas List of the most influential people in venture capital in 2001, 2002, 2004, 2005 and 2006. Lawrence received a BA from the College of the Holy Cross and graduated from the Amos Tuck School of Business at Dartmouth College as a Tuck Scholar.
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In this episode you'll hear:
How ransomware attacks jumped 300% in 2020 over 2019.Ways reputational risk can be worse than the ransom demanded to unlock files.What cybersecurity guidance the SEC has issued.What advisers should be able to prove regarding how they are addressing risks.How to train staff to make sure they know what to do when attacked.Related video: Putting a price tag on ransomware attacks
Guest Bios
John O’Connell is founder and CEO of The Oasis Group, which helps financial services and technology firms clearly define their target market and messaging to attract their ideal prospective customers.
Daniel Bernstein is chief regulatory counsel at MarketCounsel Consulting, a business and regulatory compliance consultancy for independent investment advisers. He’s also an attorney with the Hamburger Law Firm, a law practice focused on the securities industry.
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In this episode you'll hear
What are non-fungible tokens.NBA top shot.The advisers connection to NFTs.Musicians and collectors using NFTs.Educating clients on NFTs now, and advising on it down the road.The frothy hype cycle.This episode is sponsored by:
CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. Its mandate is to inform, educate, and connect the global investment community through news, data, events and education.
Founded in May 2013, CoinDesk reaches millions interested in digital assets and blockchain technology through its website, social media, newsletters, podcasts, video, research and live events. CoinDesk created the original price reference rate known as the Bitcoin Price Index in 2013 which is widely sourced in the media including The Wall Street Journal, Financial Times, CNBC, and many others on a daily basis.Register for Consensus here!
Guest Bios
Jonathan Berkowitz joined Brentwood in December 2018. Presently he serves in a product leadership capacity throughout Brentwood’s portfolio of technology businesses. With over 20 years as a seasoned executive product operator, his product strategy and go-to-market experiences cover a diverse range of enterprise and consumer technology businesses ranging from $15 million to $500 million.
Adam Blumberg is a certified financial planner in Houston, Texas. He comes from a family business and entrepreneurial background, having started technology and financial companies.
In 2009 after selling his IT service company, Adam started in the financial services industry as an insurance and financial advisor with Mass Mutual. He received his CFP certification in 2011 and, along with Ron, started Chart Wealth Management in 2014.
Adam loves to travel with his wife and daughter, enjoying hiking, skiing, and even surfing
Travis Gatzemeier is a CFP professional and the founder of Kinetix Financial Planning. He believes money is a tool that can unlock the optionality of life. His goals are to help optimize client cash flow, grow wealth and pay less money to Uncle Sam through dynamic financial planning and investment management.
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In this episode, you'll hear about
The rise of free trading apps and gamification of investing.Can financial education be gamified?The power of saving and budgeting.'Nudges' vs 'Sludge.'Does TikTok provide an important clue to unlocking financial education?The role of advisers.Nicole and Sean's takeaways.This episode is sponsored by:
CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system. Its mandate is to inform, educate, and connect the global investment community through news, data, events and education.
Founded in May 2013, CoinDesk reaches millions interested in digital assets and blockchain technology through its website, social media, newsletters, podcasts, video, research and live events. CoinDesk created the original price reference rate known as the Bitcoin Price Index in 2013 which is widely sourced in the media including The Wall Street Journal, Financial Times, CNBC, and many others on a daily basis.Register for Consensus here!
Guest Bios:
Dani Fava: Leading strategy and delivering products to future-proof the RIA industry.
Evaluating market trends related to asset management and technology, conceiving and developing new businesses and leading execution efforts on key institutional initiatives.
Skills and Interests: Disruptive technologies, blockchain, conversational AI, RIA, financial advice, digital advice, ROBO, Cryptocurrency, data, rebalancing, trading, Separately Managed Accounts, UX, strategy, problem solving #Intrapraneur #FuturistSarah Newcomb, Ph.D., is a behavioral economist for Morningstar and author of Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind. Follow Sarah on Twitter: @finance_therapy.
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In this episode, you'll hear about
What is TikTok#personalfinance is getting more play on social than fitness or health tipsThe risks of 'degenerate' trading showcased on TikTokHow one former CFP grew to over 2 million followers on TikTokNYC adviser Doug Boneparth's strategies for using twitter - to the tune of nearly 90,000 followersRising CFP Jacqueline Schadeck on her platform of choice: Instagram. How does she get an 85% capture rate from her prospects?Sean and Nicole discuss what they've learnedRelated Cover Story: Viral or vicious? Financial advice blows up on TikTok
Guest Bios
Humphrey Yang is a former CFP professional turned creator and TikTok star. Utilizing fun and engaging scenarios, he has grown a successful online business producing short videos for TikTok and is moving into YouTube.
Douglas Boneparth: For more than a decade, Doug has helped his clients negotiate sales of businesses; establish legacies for future generations; purchase new homes; pay off debt and achieve financial independence. But while servicing the needs of his diverse book of business, he noticed a gaping hole in the financial services industry: financial planning and advice for Millennials, his peers. So while everyone else was chasing old money to invest, Douglas started finding young people to invest in.
Jacqueline Schadeck is a CERTIFIED FINANCIAL PLANNER™ professional who partners with individuals and families to help them gain financial clarity.
She has been asked to contribute to numerous media outlets, including CNBC, MarketWatch, Atlanta Business Chronicle and many more. Any given week, you might find her leading financial education presentations to a local AARP chapter or explaining the tax code at a public library education session.
She was even honored with the 2017 Impact Award by the Financial Planning Association of Georgia for her dedication to her industry. -
1:00 - The growing interest in Bitcoin
3:30 - Institutional vs. retail interest
9:30 - The underlying technology
14:00 - Regulatory environment
21:00 - What can advisers do now?
23:40 - Takeaways and discussion
Related article: Advisers agree: It’s time to stop ignoring Bitcoin
Related video: Bitcoin bulls say price volatility is different this year
Ria Bhutoria article: 2020 BITCOIN RETROSPECTIVE
RIA Digital Assets Council, founded by Ric Edelman
Blockchange, founded by Dan Eyre
This episode is sponsored by State Street
Learn more today - State Street Alpha's platform for growth
Want to learn more about Bitcoin? Tune in to the InvestmentNews Fintech virtual summit on March 23. Agenda and registration details can be found on www.investmentnews.com/events
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2:00 - The surge in fintech and wealthtech funding in 20204:00 - Why there's room for more investment in the fintech sector6:00 - Key problems to solve - customer experience8:30 - A source of solutions - Artificial Intelligence11:00 - How AI is making a difference for fintech solutions13:30 - What this AI assistance means for advisors16:45 - A couple startup ideas Mark has19:30 - How blockchain fits in (or doesn't)22:30 - Takeaways from the conversation
Guest Bio: Mark Casady co-founded Vestigo Ventures with a focus on financing start-ups in FinTech. He is general partner and chairman of the advisory board.
He is a member of the board of Citizens Financial Group and JobCase and serves as an advisor to Everquote. He is a former member of the Financial Industry Regulatory Authority (FINRA) Board of Governors and the EZE Software Group board of directors.
Casady retired as LPL Financial CEO in early January 2017 and as non-executive chairman of the board in early March 2017. He guided LPL to become a leading financial services organization that serves independent financial advisors, banks, and credit unions, and provides clearing services to broker/dealers at financial services companies.
Mr. Casady received a BS from Indiana University and an MBA from DePaul University. -
Our first episode will be "The Tech Pipeline." Sean and Nicole look ahead at what’s in store for 2021 and a Venture Capitalist shares his vision of the tech pipeline as his firm looks to invest in the next great software.
