Category Archives: COVID – 19

Ep 99: Assessing the impact of Secure Act 2.0 — With Lee Freitag

September 22, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, American Secure Act, Business Building, Emergency Fund, Emergency Savings Account, Financial Planner, Financial Planners, Financial Planning, Income Planning, investing, Investment Decisions, Parttime Worker, Retirement Plan, Retirement Planning, Secure Act, Secure Act 2.0, Student Loan, Student Loan Repayment, Student Loanstheflexibleadvisor

Limited access and chronic under-saving continue to leave many Americans ill-equipped for retirement. New legislation may have a meaningful impact in getting more people access and saving in workplace sponsored retirement plans.

In this episode, Laura Gregg and David Partain are joined by Lee Freitag, practice lead of the Retirement Solutions Group at Northern Trust Asset Management to discuss how Secure Act 2.0 stands to benefit individuals as well as small plan sponsors and administrators.

Lee discusses:

Five key provisions addressing issues such as accessibility, portability, and penalty relief for emergency expenses.
How Secure Act 2.0 helps individuals balance student loan debt and retirement plan contributions.
The latest on the treatment of catch-up contributions
Important provisions to help part-time workers access employer-sponsored retirement plans
Penalty relief for distributions related to emergency expenses
And more

Resources:

FlexShares Exchange Traded Funds

Connect With Lee Freitag:

LinkedIn: Lee Freitag

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About Our Guest:

Lee Freitag is the Practice Lead of Retirement Solutions at Northern Trust Asset Management. He is responsible for the development and distribution of investment solutions and research content designed for the institutional and intermediary retirement markets And, as our regular listeners know, David and I have been conducting investor research for many years, but Lee, I think your tenure as a research leader may eclipse us!

Lee is a return guest to The Flexible Advisor. He joined us early in the pandemic to speak about the Secure Act, so I’m thrilled he’s back to educate us on the revised legislation.

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Ep 97: The Art of the Nudge – With Patrick Fagan

August 4, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Behavioral Finance, Business Building, Capuchin Behavioral Science, Client Persona, Financial Planner, Financial Planners, Financial Planning, Nudgetheflexibleadvisor

We know that internal biases form specific client personas which, in turn, shape a person’s approach to making financial decisions. Financial professionals can use those biases as a “nudge” rather than an obstacle to build more productive client relationships.

In this episode, Laura Gregg and David Partain speak with Patrick Fagan, Chief Scientific Officer at Capuchin Behavioral Science, about using clients’ underlying biases to your advantage.

Patrick discusses:

How and why we all use cognitive shortcuts
How to use those shortcuts as a “nudge” to build trust
Helping clients accept advice that may seem contradictory to their beliefs
Applying nudges with different client personas
Focusing on emotional and functional outcomes
And more

Definition: The term Alpha is used in finance as a measure of performance, indicating when a strategy or portfolio manager has managed to beat the market return or other benchmark over some period.

Resources:

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About Our Guest:

Patrick Fagan is the Chief Scientific Officer at Capuchin. Patrick is a behavioral scientist and lecturer with a decade of experience applying that scientific approach for organizations around the world, and a Sunday Times bestselling author. Previously the lead psychologist at Cambridge Analytica, Patrick is a co-founder and the Chief Scientific Officer at Capuchin Behavioural Science.

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Ep 96: Reaching and Retaining Next-Generation Investors – with Ryan George

June 29, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Business Building, Docupace, Financial Advisors, Financial Planner, Financial Planners, FinTech, FlexShares, Generation Z, Investors, Millennials, Podcast, retention, Technology, Young Investors, Younger Generationstheflexibleadvisor

The rapid expansion of social media and artificial intelligence within the financial services space holds undeniable implications for the advisor/client dynamic – particularly when it comes to young investors.

Ryan George, Chief Marketing Officer at Docupace, shares insights from his firm’s recent white paper — Five Ways to Capitalize on the Changing Attitudes of American Investors. Laura Gregg talks with Ryan about the needs, approaches, and attitudes of younger investors in today’s environment, and how best to engage, serve, and retain them as clients.

Ryan discusses:

Why digitization and one-to-one planning and advice must co-exist
Mistaken assumptions about Millennial and GenZ investors
3 ways younger Investors think about money differently
Using tech to elevate the advisor/client experience
Key themes to drive acquisition and retention of next-gen clients
And more

Resources:

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About Our Guest:

Ryan George is the Chief Marketing Officer at Docupace, a solutions provider focused on digitizing and automating operations in the financial advice and investment industry. He serves as the company’s “chief diplomat” evangelizing the company’s people, solutions and brand across the financial services and wealth management industry. As a member of the senior executive committee, Ryan collaborates with key stakeholders across Docupace to support the company’s growth, retention, and profitability objectives. Ryan has spent all of his career within the financial advice and investment space, previously serving many as Assistant Vice President of Marketing and Communications at 1st Global.

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Ep 95: Clients Want More Than Advice; They Want A Plan – With Chazz Logue

June 16, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Business Building, Client Relationships, Financial Planner, Financial Planners, Financial Planning, Transparencytheflexibleadvisor

Why pay a financial advisor for services available on a host of digital platforms? Today’s clients expect more from a paid financial professional than a diversified investment portfolio. They appreciate advice, but they expect a plan.

In this episode, Laura Gregg speaks with Chazz Logue, Regional Director and Business Development Team Lead of Advice and Financial Planning at MassMutual, about the trends pushing advisors toward full-service planning models.

Chazz discusses:

What is driving advisors toward financial planning
Why a one-and-done advisory approach often falls short
The case for creating ongoing financial planning relationships
Actionable ideas to make planning a larger part of your practice
And more

Resources:

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About Our Guest:

Charles (Chazz) Logue is the Regional Director and Business Development Team Lead of Advice and Financial Planning at MassMutual. Through a deep understanding and in-depth knowledge of tools and options available, he and his experienced team partner with advisors to help clients articulate their goals and then develop a plan of action to make achieving their goals inevitable, including short-term liquidity needs, longer-term retirement or purchase goals and even leaving a legacy. Outside the office, Charles can be found volunteering as a Wildlife Rescuer, instructing drivers at various racetracks, working with venomous reptiles, surfing, volleyball, and enjoying theatre and the arts.

*Basis Point definition: “A basis point is a common unit of measure for interest rates and other percentages in finance. Basis points are typically expressed with the abbreviations bp, bps, or bips.” (Fernando).

Fernando, Jason. “Basis Points (BPS).” Investopedia, 2019, www.investopedia.com/terms/b/basispoint.asp.

*Alpha definition: “Alpha measures the amount that the investment has returned in comparison to the market index or other broad benchmark that it is compared against.” (Banton, 2022) Banton, C. (2022, May 13). Alpha vs. Beta: What Is The Difference? Investopedia. https://www.investopedia.com/ask/answers/102714/whats-difference-between-alpha-and-beta.asp

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Ep 94: When Children Are Not Part of the Plan – With Pamela Lucina

April 28, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Business Building, Child-free Clients, Childless Clients, Financial Advisors, Financial Planner, Financial Planners, Financial Planning, FlexShares, Podcast, The Flexible Advisortheflexibleadvisor

The new generation of investors includes a growing and influential population: childless/child-free clients. They present a distinctly unique set of priorities, objectives, concerns, and expectations.

In this episode, Pamela Lucina, President of the Northern Trust Institute and Head of Trust and Advisory Practice, talks with Laura Gregg and David Partain about this demographic, and why advisors should recognize and rethink some long-standing biases and assumptions.

Pamela discusses:

How unconscious biases can undermine client conversations, particularly with women
Rephrasing discovery questions for more productive conversations
Key considerations when estate planning for clients without children
And more

Resources:

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Pamela Lucina’s LinkedIn

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About Our Guest:

Pamela Lucina is the President of The Northern Trust Institute, Chief Fiduciary Officer and Trust & Advisory Practice Executive. She leads a national team of trust and estate professionals to help clients achieve their goals through the use of world-class tools and techniques, with an eye toward the human element of wealth and family dynamics. She is a recognized leader and speaker within the trust and estate legal community and a strong advocate for women in the industry.

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EP 92: The Financial Coach Can Use A Coach – With Lacy Garcia of Willow

March 8, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Advisory Firms, Business Building, Diversity, Financial Planner, Financial Planners, Financial Planning, Independent Advisors, investing, Willowtheflexibleadvisor

It’s not just you. Most advisors face the same challenge. Your client base is broadening and diversifying. You need to provide more sophisticated, more personalized solutions but where do you find the right resources?

In this episode, Laura Gregg and David Partain speak with Lacy Garcia, Founder and CEO of Willow, an award-winning financial technology and guidance platform. Her mission: To equip advisors with practical resources to engage with women and an overall rapidly changing wealth demographic.

Lacy discusses:

The New Majority investor and their growing wealth ownership
How advisors can address the unique needs of their changing client base
Tactical solutions that can be put in place quickly
How coaching from Willow can help advisors create a meaningful client experience
And more

Resources:

FlexShares Exchange Traded Funds

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About Our Guest:

Lacy Garcia is the founder and CEO of Willow. Willow is an award-winning financial technology and guidance platform that helps financial institutions better engage and serve women and the new majority of investors. Lacy and Willow have been featured on Yahoo Finance, Business Insider, Wealth Management, and more. Most recently, Lacy has appeared on the Today Show on NBC to help explain some important financial concepts and applications.

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Ep 90: Overcoming Adversity: GRIT As A Game Changer — With Austin Hatch

February 10, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Austin Hatch, Basketball, Business Building, Financial Planner, Financial Planners, Financial Planning, GRIT, Overcoming Tragedies, Teamworktheflexibleadvisor

It’s True: GRIT can be a game-changer.

In this episode, Austin Hatch – a motivational speaker, athlete, and remarkable survivor—shares his inspiring journey and lessons that can help others respond to unexpected circumstances. Tune in for Austin’s powerful story and learn how the G.R.I.T. framework can help managers adapt to today’s challenges.

Austin discusses:

Helping others as a driving motivation
How the G.R.I.T. framework can help managers in the current economic market
The power and importance of leading by example
More insights and lessons from Austin’s experiences

Resources:

FlexShares Exchange Traded Funds

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About Our Guest:

Austin Hatch survived two plane crashes that claimed the lives of his entire immediate family. He suffered severe injuries that nearly took his life. When Austin woke from a 2-month-long coma, he had to re-learn basic life skills. The road to recovery was tough, but he found a way to push forward and fulfill his dream of joining the University of Michigan basketball team. Austin is now a motivational speaker with a poignant message about G.R.I.T. and how we can all thrive in the midst of adversity.

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Ep 88: How SEC rule 206(4) could change your business model — With Paul Binnion

January 13, 2023Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Business Building, Financial Planner, Financial Planners, Financial Planning, Investment Management, Outsourcing, SEC Proposaltheflexibleadvisor

Are you familiar with the SEC’s 206(4) proposal? Will you be compliant?

In this episode, Laura Gregg and David Partain are joined by Paul Binnion of Hanlon Investment Management to consider the intent and potential impact of the proposal.

If you outsource certain investment functions or have been evaluating third-party service providers, join us to learn more.

Paul discusses:

Core aspects of the proposed rule, and how it may affect financial advisors
How advisors’ due diligence responsibilities may be affected
What to consider when selecting a third-party solutions provider
Why deeper client relationships will likely become even more important
And more

Resources:

Outsourcing by Investment Advisers, Securities and Exchange Commission, Proposed Rule 206(4) – PDF
Ep 46: The Race to Scalability — With Paul Binnion, Hanlon Investment Management
FlexShares Race To Scalability Research
FlexShares The New Rules in Growing Wallet Share
FlexShares Exchange Traded Funds

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About Our Guest:

Paul Binnion is the Chief Revenue Officer at Hanlon Investment Management. Paul is responsible for leading the overall direction of the firm’s distribution strategy while overseeing the sales, key accounts, and marketing teams in their efforts to build collaborative partnerships with successful financial advisors. Paul has more than 30 years of experience developing best practices with financial partners and specializes in building and motivating teams to help deliver successful outcomes to financial advisors and their clients.

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Ep 76: Are Advisors Missing the Forest for the Trees? – Kiley Miller on Sustainable Investing

May 20, 2022Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice ManagementAdvisory, Business Building, ESG Investing, Financial Planner, Financial Planners, Financial Planning, Misconceptionstheflexibleadvisor

As sustainable investing grows in popularity, so do the misconceptions about its framework.

In this episode, Laura Gregg and David Partain speak with Kiley Miller, Director of ESG Investment Solutions at Envestnet.

Kiley is a passionate leader in the ESG investment space. She shares how she is working to help advisors better understand underlying value of ESG information, its various applications, and what it brings to an advisory practice.

Kiley discusses:

The differences between ESG aware and ESG focus
How the industry falls short in helping advisors appreciate sustainable investing
Simple answers to common objections
The value proposition sustainable investing brings to an advisory practice.
And more

Resources:

FlexShares Exchange Traded Funds

Connect With Kelly Miller:

Linkedin: Kiley Miller
Sustainable Me

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About Our Guest:

Kiley leads ESG product development and ESG product management for PMC’s suite of investment products and service offerings. This includes PMC’s ESG focused managed portfolios and ESG due diligence within manager research. Kiley also oversees ESG and impact data relationships and strategic development of ESG and impact reporting initiatives. Prior to joining PMC in 2019, Kiley was a senior client advisor at Sustainalytics, an ESG research, ratings and analytics firm. There she supported U.S. asset managers to integrate ESG research into the investment process. Kiley also previously worked at the UN-supported Principles for Responsible Investment. Kiley holds an MS in Sustainability Management from Columbia University. She also holds a BS in Environmental Sustainability with a double minor in Business and Environmental Economics & Law from the University of Illinois at Urbana-Champaign. Kiley is a CFA Level III Candidate.

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Ep 52: Conquering Stress Through Flexible Work Arrangements — With Lauren Oschman, CFP®

May 14, 2021Advisors, Business Planning, COVID - 19, Financial Advisor, Financial Advisors, Practice Management#Employee, #FinancialAdvisors, #FinancialServices, #MentalHealth, #PersonalFinance, #Productivity, #Stress, #TheFlexibleAdvisor, #Wellness, PodcastRobyn Walter

As vaccinations ramp up and offices are re-open, many firms are facing a dilemma:

Bring the entire staff back, create a hybrid team model or go fully virtual?

In this fourth episode of our Advisor Wellness series, Laura Gregg and David Partain speak with Lauren Oschman, CFP®, Partner, Chief Experience Officer and producing Advisor at Vestia Personal Wealth Advisors. They discuss the power of building an intentional firm culture that embraces flexibility in both work location and hours and how this ultimately can promote greater productivity while reducing stress for the team and its partners.

In this episode, you will learn:

The bold way Vestia is recruiting remote hires
Using remote/hybrid work models to help alleviate stress and build diversity
Why culture matters and how to build it virtually
How a virtual model has increased the retention of physician clients
Insights into how virtual engagement can actually deepen client relationships
Strategies to effectively onboard remote hires
And more!

Listen in now to discover how to create an optimal mix of virtual and in-office staff!

Investment advisory services offered through Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, and Vestia Advisors, LLC, a Registered Investment Advisor with the SEC. Securities offered through Ausdal Financial Partners, Inc., 5187 Utica Ridge Rd, Davenport, IA. 52807 (563)326-2064. Member FINRA/SIPC. Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, Vestia Advisors, LLC and Ausdal Financial Partners, Inc. are independently owned and operated.

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