Orion's The Weighing Machine

Today on the podcast, Ben Vaske is joined by Fritz Folts from 3EDGE Asset Management. Fritz has over 25 years of investment and portfolio management experience. Prior to 3EDGE, he served for over 12 years on the investment committees at both Windward and Windhaven Investment Management, Inc. He also served as Chief Investment Strategist while at Windhaven. Fritz began his career at The Boston Company, where he ultimately served as Director of Global Funding for the then newly formed Boston Safe Deposit & Trust Co., (U.K.) Ltd., in London, England. He holds a BA in Government from Connecticut College and an MBA from IESE (Instituto Estudios Superiores de la Empresa) in Barcelona, Spain, one of Europe’s pre-eminent business schools. He is the former Chair of the Board of Trustees at Connecticut College and now serves as Trustee Emeritus. While on the Board at Connecticut College Fritz was also a member of the Investment Committee for the college endowment. Fritz currently serves as Chair of the Investment Committee for the Concord Museum, which was recently voted the #1 Small Town Museum in America by USA Today. He is also a member of the Investment Committee of the Umbrella Center for the Arts in Concord, MA. Fritz resides in historic Concord, Massachusetts, with his wife, Cathy. Key Takeaways Links Fritz Folts on LinkedIn3EDGE Asset Management3EDGE Week in Review Video Series3EDGE Commentary Paper – The Power of Multi-Asset InvestingConnect with Us Meet Ben Vaske, Manager Investment StrategyCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) Wealth management services provided by Orion Portfolio Solutions, LLC (“OPS”), a registered investment advisor. Orion OCIO services provided by TownSquare Capital, LLC (“TSC”), a registered investment advisor. OPS and TSC are affiliates and wholly owned subsidiaries of Orion Advisor Solutions, Inc. Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. This podcast is sponsored by Janus Henderson Investors. Orion Advisor Solutions, Inc. (“Orion”) or its affiliates and subsidiaries received compensation from Janus Henderson Investors for the placement of this advertisement content. Janus Henderson Investors and Orion are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. These show notes may contain links to third-party websites. Any links to such third-party websites are provided solely as a convenience to you and not as an endorsement by Orion of the content on such third-party websites, or any affiliation or association with its operators. Orion is not responsible for the content of linked third-party websites, including, without limitation, any link contained in a linked website, or any changes or updates to a linked website, and do not make any representations regarding the information, services, products or accuracy of any material contained on such third-party websites. Compliance Code: 0548-R-26048

Today on the podcast, Ben Vaske is joined by Michelle Cluver, Head of ETF Model Portfolios at Global X ETFs. Michelle joined Global X in 2018. She is responsible for overseeing the model portfolio solutions team in the construction and management of Global X’s suite of ETF model portfolios. Michelle and her team develop the macroeconomic and market views that shape portfolio positioning. Additionally, she works closely with the ETF model portfolio team on maintaining and assessing the quantitative models behind Global X’s thematic model portfolios. Previously, Michelle worked at Merrill Lynch Wealth Management in its ETF model portfolio business. Prior to Merrill, Michelle worked for a boutique asset management firm, with a focus on both South African and developed market equities. Michelle holds a master's degree in International Finance from the Amsterdam Business School and is a CFA Charterholder. Key Takeaways Links Michelle Cluver on LinkedInGlobal X ETFsConnect with Us Meet Ben Vaske, Manager Investment StrategyCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) Wealth management services provided by Orion Portfolio Solutions, LLC (“OPS”), a registered investment advisor. Orion OCIO services provided by TownSquare Capital, LLC (“TSC”), a registered investment advisor. OPS and TSC are affiliates and wholly owned subsidiaries of Orion Advisor Solutions, Inc. Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. This podcast is sponsored by Janus Henderson Investors. Orion Advisor Solutions, Inc. (“Orion”) or its affiliates and subsidiaries received compensation from Janus Henderson Investors for the placement of this advertisement content. Janus Henderson Investors and Orion are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. These show notes may contain links to third-party websites. Any links to such third-party websites are provided solely as a convenience to you and not as an endorsement by Orion of the content on such third-party websites, or any affiliation or association with its operators. Orion is not responsible for the content of linked third-party websites, including, without limitation, any link contained in a linked website, or any changes or updates to a linked website, and do not make any representations regarding the information, services, products or accuracy of any material contained on such third-party websites. Compliance Code: 0328-R-26033

Key Takeaways Links Adam Hetts on LinkedInJanus Henderson InvestorsJanus Henderson Investment Outlook 2026Connect with Us Meet Ben Vaske, Manager Investment StrategyCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) Wealth management services provided by Orion Portfolio Solutions, LLC (“OPS”), a registered investment advisor. Orion OCIO services provided by TownSquare Capital, LLC (“TSC”), a registered investment advisor. OPS and TSC are affiliates and wholly owned subsidiaries of Orion Advisor Solutions, Inc. Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. This podcast is sponsored by BlackRock, Inc. Orion Advisor Solutions, Inc. (“Orion”) or its affiliates and subsidiaries received compensation from BlackRock, Inc. for the placement of this advertisement content. BlackRock, Inc. and Orion are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Compliance Code: 3498-R-25351

Today on the podcast, Ben Vaske is joined by Jason Mertz from AllianceBernstein. Jason Mertz is a Vice President and Investment Strategist for AB’s Municipals team, covering all mutual funds, exchange-traded funds and separately managed account solutions. He works extensively with the firm’s portfolio management, credit research and trading team to monitor and communicate portfolio positioning and analysis to clients around the US. Prior to joining AB in 2016, Mertz worked at BlackRock as a separately managed account analyst. He holds a BA in finance and international business from Muhlenberg College. Key Takeaways Links Jason Mertz on LinkedInAlliance BernsteinConnect with Us Meet Ben Vaske, Manager Investment StrategyCheck Out All of Orion’s PodcastsPower Your Growth with OrionJason Mertz: Air Fryer Salmon Recipe Ingredients: Salmon, Garlic, Salt, Pepper, Soy Sauce, Teriyaki and Lemon (optional) Disclosure(s) Wealth management services provided by Orion Portfolio Solutions, LLC (“OPS”), a registered investment advisor. Orion OCIO services provided by TownSquare Capital, LLC (“TSC”), a registered investment advisor. OPS and TSC are affiliates and wholly owned subsidiaries of Orion Advisor Solutions, Inc. Orion Portfolio Solutions, LLC d/b/a Brinker Capital Investments a registered investment advisor. This podcast is sponsored by BlackRock, Inc. Orion Advisor Solutions, Inc. (“Orion”) or its affiliates and subsidiaries received compensation from BlackRock, Inc. for the placement of this advertisement content. BlackRock, Inc. and Orion are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Compliance Code:

Today on the podcast, Ben Vake is joined by Kim Arthur, CEO and Portfolio Manager of Main Management. Kim D. Arthur is a founding partner of Main Management, LLC. He currently serves as Main’s CEO and Portfolio manager. In 2009 Kim was recognized by Institutional Investor Magazine as a “Rising Star” of Foundations and Endowments. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida in January 2018. Kim has been profiled in articles by Index Universe and referenced in Barron’s, Wall Street Journal, Business Week and Fortune Magazine among others. Kim began his financial career in 1987 when he joined Montgomery Securities in their Institutional Sales division, marketing U.S. equities to Japanese institutions. He was promoted to Managing Director of Institutional Sales in 1997 during the period when Montgomery was purchased by Nations Bank. By 1999 he had advanced to the transitional head of International Sales for Banc of America Securities, following Bank of America’s takeover of Nations Bank. From 2000-2001 Kim was named the head of the Institutional Sales and Trading Department overseeing 60 sales traders in 6 cities. From January 2002 through August 2002 he was appointed the head of Equity Product Marketing. He served on the Investment Policy Committee and the Executive Management Committee at Banc of America Securities from 2000-2002. Key Takeaways Links Kim Arthur on LinkedInMain ManagementConnect with Us Meet Ben Vaske, Manager Investment StrategyCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code:

Today on the podcast, Rusty and Robyn are joined by Kim Arthur, CEO and Portfolio Manager of Main Management. Kim D. Arthur is a founding partner of Main Management, LLC. He currently serves as Main’s CEO and Portfolio manager. In 2009 Kim was recognized by Institutional Investor Magazine as a “Rising Star” of Foundations and Endowments. Kim is a regular speaker at national conferences and was a featured speaker at the Inside ETFs conference in Hollywood, Florida in January 2018. Kim has been profiled in articles by Index Universe and referenced in Barron’s, Wall Street Journal, Business Week and Fortune Magazine among others. Kim began his financial career in 1987 when he joined Montgomery Securities in their Institutional Sales division, marketing U.S. equities to Japanese institutions. He was promoted to Managing Director of Institutional Sales in 1997 during the period when Montgomery was purchased by Nations Bank. By 1999 he had advanced to the transitional head of International Sales for Banc of America Securities, following Bank of America’s takeover of Nations Bank. From 2000-2001 Kim was named the head of the Institutional Sales and Trading Department overseeing 60 sales traders in 6 cities. From January 2002 through August 2002 he was appointed the head of Equity Product Marketing. He served on the Investment Policy Committee and the Executive Management Committee at Banc of America Securities from 2000-2002. Key Takeaways Quotes [08:16] - “I stole this from Bezos, but we do it in all of our meetings - we’ll have an empty chair, and I’ll remind everybody in there that hasn’t heard it, but that chair is the client sitting there. So, whatever you’re going to say, you better make sure that it’s client centric because they are listening and they will remember… Again, when you kind of grab your team that has that building block and then you start building off of that, good things will happen, but it’s got to start from that foundational piece.” ~ Kim Arthur [31:40] - “In any given year, the market drops 10% from peak to trough. It’s very interesting how, when it does that, it feels so unique like it hasn’t happened before, but it’s actually 12 months before that it happened. Then, every three plus years, you get a 20% drop…and it feels awful…So that gives me solace, to look back and realize that this too will pass. This is part of the nature of the markets.” ~ Kim Arthur Links Kim Arthur on LinkedIn“The Zoo” by ScorpionsMain ManagementConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 1246-R-25120

Today on the podcast, Rusty and Robyn are joined by Dominic Vaccaro, President of Real Estate at Burlington Capital. Dominic Vaccaro is President of Real Estate and sits on the Investment Committee of Burlington Capital, the company’s sponsored investment programs and advisor. With 20 years of experience at Burlington Capital, Mr. Vaccaro oversees all of the company’s real estate operations including acquisitions, development and property management. During his tenure at Burlington Capital, he has been involved with the acquisition and/or development of multifamily properties with asset values totaling nearly $3 billion with over 35,000 units. These properties include market rate, affordable, military, veteran, student and senior housing. He has also been primarily responsible for the company’s efforts with public-private partnerships including nine privatized student housing projects with asset values totaling in excess of $180 million and the military housing privatization at Offutt Air Force Base with development costs of $240 million and over 2,000 housing units. He is experienced in the acquisition and development of multifamily properties, including both construction and permanent financing, structuring and issuance of taxable and tax-exempt bonds and the management of portfolios of real estate. Mr. Vaccaro has a B.S. in Business Administration – Finance from Creighton University. Key Takeaways Quotes [11:21] - “As you look at multi-family today, there's a certain appeal as values are down 20-25% off their peaks. Given the rise in interest rates, certainly multi-family provides an entry point that, relative to prior highs, provides some opportunities.” ~ Dominic Vaccaro [22:46] - “The two [major changes in multi-family real estate] that always come to mind…for me are, certainly the evolution of the internet, and the need for good access in that regard, but also pets. You know, early in my career, it was very much commonplace [to not allow pets]. Now…it's almost catered heavily to pets and the role pets play…so it’s interesting to see how the demand for multi-family overtime has been influenced by some of these factors and will continue to be.” ~ Dominic Vaccaro Links Dominic Vaccaro on LinkedIn“Don’t stop” by Fleetwood MacBurlington CapitalConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 1218-R-25115

Today on the podcast, Rusty and Robyn are joined by Morgan Lemaitre, Founder & Owner of Park City Wealth Advisors. Morgan Lemaitre, CFP®, founder and owner of Park City Wealth Advisors, boasts over a decade in the financial services industry, however her background goes beyond that. From competitively figure skating on behalf of Team USA to cooking for the King of Thailand on his 80th birthday, Morgan understands life is about absorbing as much knowledge and as many experiences as possible. She brings that same perspective to Park City Wealth Advisors, where she says, “I want my clients to look at each open door as an opportunity to take the next step and see what the other side has to offer.” Key Takeaways Quotes {15:40] - “...What are you striving for, like when will you know you’ve made it? Because, if we don’t know what we are shooting for, or where we are pointed, we’ll never know when we arrive and we’ll never know to celebrate those moments…[this question gives] me a little insight into what drives people, what they’re really shooting for in life, what lights them up.” ~ Morgan Lemaitre [25:34] - “1% shifts, I believe, are aligned around discipline. So, things that we can easily do in our lives that, when you add them all together, make a huge difference.” ~ Morgan Lemaitre Links Morgan Lemaitre on LinkedIn“Girl on Fire” by Alicia KeysPark City Wealth AdvisorsConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 1206-R-25114

Today on the podcast, Rusty and Robyn are joined by Jeff Brooks, Senior Wealth Strategist with the Specialist Consulting Group at JanusHenderson Investors. Jeffrey R. Brooks is a Senior Wealth Strategist with the Specialist Consulting Group at Janus Henderson Investors. Jeffrey brings to his role years of experience in both the practice of law as well as the financial services industry, working together with financial advisors and their high-net worth and ultra-high-net worth clients. His knowledge and real-world experience are invaluable for advisors and investors facing hurdles in the quest to achieve tax, wealth transfer, family governance, business succession, and philanthropic goals. Prior to joining the firm in 2023, Jeffery served 24 years in similar roles at Capital Group, UBS, and Merrill/Bank of America. Before entering the financial services industry, he was a partner in a boutique estate planning firm in St. Louis, Missouri, and spent five years clerking for the judge of a probate court. Jeffrey earned both an undergraduate degree in journalism and a law degree from the University of Missouri at Columbia. He holds FINRA Series 7, 63, 66, and 24 securities licenses. Jeffrey and his wife live with their 5 dogs on a small ranch in Southern California. Key Takeaways Quotes [11:37] - “I have run into clients who have had a bad experience, most recently, and decided they want to change…their wills and trusts in order to be able to include or exclude certain individuals who may have had an immediate and short-term influence on them. As a lawyer, when that happened, I would counsel them to think carefully. It’s not my job to talk them out of it, but it certainly is my job to put it into perspective and help them see the perspective of good estate planning rather than to make it on an immediate incident.” ~ Jeff Brooks [40:15] - “I love to talk about family governance with clients, because that’s such an amorphous term - it’s very squishy, we don’t know what governance is…The way I describe it and clarify it for my clients is: family governance is setting up a structure to make decisions when your family members don’t agree. They’ve gotta have a contract, or a constitution…or whatever you want to call it, but there’s a rule book because children will not always agree, not with their parents and not with each other, and some wait until after parents are gone to really let those disagreements fly. However, if you have an agreement in writing, you can control a good deal of that conflict.” ~ Jeff Brooks Links Jeff Brooks on LinkedInJanus Henderson Investors“Give it Away” by The Red Hot Chili PeppersConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 1198-R-25114

Today on the podcast, Rusty and Robyn are joined by Dustin Haygood, Client Portfolio Manager at Aristotle Capital Management. Dustin Haygood is a Client Portfolio Manager at Aristotle Capital and a member of the investment team. Prior to joining Aristotle Capital, Dustin was Lead Analyst at Capital Alpha Partners where he performed political risk research for institutional investors. Additionally, during his master’s program, he interned in client service at Pacific Investment Management Company (PIMCO). Beyond his experience in investment management, Dustin previously worked in politics as both a lobbyist and a Capitol Hill staffer. Dustin earned his Bachelor of Arts degree in Political Science from the University of California, San Diego and his MBA in Analytical Finance and Economics from the University of Chicago Booth School of Business. He is a CFA® charterholder. Dustin is also an avid golfer, mediocre skier and a lifelong Los Angeles Dodgers fan. Key Takeaways Quotes [11:05] - “Here’s something unique too, valuation itself can’t be a catalyst for us - we don’t invest in a company just because it’s cheap. There have to be catalysts that are observable. So, things that are under the company’s control, that are already underway, that are fundamentally improving that business. So, it could be a business transformation, it could be the company expanding their margins in a meaningful way. Something else that we believe will help close the gap between price and intrinsic value. It needs to be grounded in reality though, so not hype, not a macro guess, not a political outcome.” ~ Dustin Haygood [13:19] - “Quality isn’t static. It’s not just about where a company has been, it’s about where it’s headed…Can a capital intensive company be quality? In our view, yes it absolutely can. It depends on how well the company manages what it can control.” ~ Dustin Haygood Links Dustin Haygood on LinkedIn“Right Now” by Van HalenAristotle Capital ManagementThe Power of Patience PodcastConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code:

Today on the podcast, Rusty and Robyn are joined by serial entrepreneur and strategic advisor Scott MacKillop. Scott MacKillop, the former CEO of First Ascent Asset Management, serves as strategic advisor to GeoWealth, an enterprise technology firm and TAMP that serves the needs of RIAs. He is a 40-year veteran of the financial service industry. Key Takeaways Quotes [23:09] - “[Going forward advisors] are going to be more and more managers of outside vendors rather than cobblers at the bench making shoes. I think this is going to be more and more a part of what they do.” ~ Scott MacKillop [32:40] - “I think that [some advisors] have learned the hard way that…the financial services world is a sales culture…and that, as I mentioned before, it sometimes takes advisors awhile to realize that people who look like they’re friends and look like objective sources of information are not, they’re selling something. So, that sort of skepticism and due diligence mindset…is really important, and I think a lot of advisors have learned that the hard way.” ~ Scott MacKillop Links Scott MacKillop on LinkedIn“Sugar Magnolia” by The Grateful DeadConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code:

Today on the podcast, Rusty and Robyn are joined by Judith Peterson, Chief Marketing Officer at DwellFi and SteerCo Member of the Women’s Accelerator Network in NYC. Judith Peterson, based in New York, NY, US, is currently a Chief Marketing Officer at DwellFi. Judith Peterson brings experience from previous roles at Intertrust Group, Cerulean Sky LLC, Ultimus Fund Solutions and Broadridge. Judith Peterson holds a 2013 - 2016 Columbia University - Columbia Business School. With a robust skill set that includes Business/Sales Development, Brand Creation & Management, Media, PR, and Analyst Relations, Digital/Social Media, Networking and SEO, Consulting and Project Management and more. Judith Peterson has 2 emails and 2 mobile phone numbers on RocketReach. Key Takeaways Quotes [10:50] - “This is, I suppose, kind of a pro tip that someone taught me, but if you don’t know how to ask [AI], go into the program and say this is the outcome I want, help me write a prompt for that…that was a little mind blowing for me.” ~ Judith Peterson [14:01] - “I think what’s interesting is that, right now, the trend that I see is that most people think transactionally with AI, with the public tools, they don’t think strategically…but…[you just need to] get in there and let it be messy…there’s zero perfection [necessary] with this..” ~ Judith Peterson Links Judith Peterson on LinkedInDwellFi“Mr. Blue Sky” by Electright Light OrchestraLet Them by Mel RobbinsConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 1026-R-25097

Today on the podcast, Rusty and Robyn are joined by Alma Rodriguez-Piscitello, CEO & Founder of Revela Advisors. As the driving force behind Revela Advisors, Alma is all about helping businesses unlock their true potential and achieve sustainable growth. With over 30 years in financial services, she’s worked with Fortune 500 companies and global organizations, mastering the art of marketing, business development and strategic partnerships. Known for her ability to unite teams and align visions, Alma thrives as a collaborative “quarterback,” guiding businesses through transformative strategies that foster lasting success. Her leadership has spearheaded corporate rebranding efforts and cultivated partnerships that propel organizations forward. Beyond work, Alma’s passion for continuous learning and fostering growth is mirrored in her personal life, where she actively mentors college students and young professionals. Key Takeaways Quotes [06:47] - “I said, you know what, I want to do something different. Why do I want to go launch my own firm? It’s because I saw that firms were struggling to bridge that gap between messaging and execution…and that’s why I founded the business. I just don’t want to talk about [it]...I want to help them create the right steps to achieve it. So, it’s beyond marketing, it’s really about the business strategy itself and how you’re communicating with your target audience.” ~ Alma Rodriguez-Piscitello [15:47] - “One of the biggest mistakes advisors make is trying to be everything to everyone, so it’s important to identify your unique strengths and focus on those…People purchase, buy or sign up for a service because you’re human and they trust you, so really focus on specialization, why are you unique and what do you help them solve. The biggest mistake is trying to be everything to everyone.” ~ Alma Rodriguez-Piscitello Links Alma Rodriguez Piscitello on LinkedInRevela Advisors“No Sleep Till Brooklyn” by Beastie BoysPa’lla Voy by Marc AnthonyConnect with Us Meet Rusty VannemanCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0879-R-25083

Today on the podcast, Rusty and Robyn are joined by Frank Trotter, President at Battle Bank. Frank Trotter has been involved in the banking business since 1981. In 1998, he became a co-founder of everBank.com, a national direct-to-consumer bank which was acquired by EverBank Financial in 2004. From 1998 through the sale of EverBank Financial Corp to TIAA in 2017, he served in various executive capacities including Chairman of everBank.com, President of EverBank Direct, and Chairman of EverBank Wealth Management. From 1981 through 1997, Frank served Mark Twain Banks in various capacities including Vice President of Commercial Lending, and President of Mark Twain International Markets. In 1986, Frank created the WorldCurrency® deposit product for Mark Twain Banks and operated this business through 1997. In 2000, everBank.com acquired this business from the successor of Mark Twain Banks and operated the product line at EverBank. Frank holds a Bachelor of Arts from St Olaf College in Northfield, Minnesota and an MBA from Washington University in Saint Louis, Missouri. Key Takeaways Quotes [08:27] - “So, I think [two] of the key revelations over time, [in terms of what I’ve learned about leadership], is…you don’t have to do it all yourself and consensus is pretty darn good in terms of making decisions.” ~ Frank Trotter [15:12] - “What we do is sort of look for places where there’s a hole in the market. One of those holes is borrowing against your precious metals. Now, if you walk into your local bank with a few gold bars, they’ll probably lend you some money. But, there’s no mechanized way to do that nationally right now. A lot of our clients want to hold onto their precious metals, but they may want to put a deck on the back of the house…so we kind of structured it like a margin account at a broker dealer. Amazingly not available, we’re delighted about that, but also our clients are going to be delighted to get that liquidity.” ~ Frank Trotter Links Frank Trotter on LinkedInBattle Bank’s Website“Box of Rain” by The Grateful Dead“Holiday” by Green Day“Money Song” by Monty PythonConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0786-R-25076

Today on the podcast, Rusty and Robyn are joined by Morris Chen, Portfolio Manager at DoubleLine Capital. Mr. Chen joined DoubleLine at its inception in 2009. He is a Portfolio Manager leading the CMBS/CRE Debt Investment team and CRE New Investment Review Group, and is responsible for the oversight and management of all CRE Debt related investments at DoubleLine. Mr. Chen is a permanent member of the Fixed Income Asset Allocation and Structured Products Committees providing valued insight into the CMBS sector. He is also an active participant and speaker at CREFC events. Prior to DoubleLine, Mr. Chen was a Vice President at TCW where he was responsible for CMBS credit analysis and trading from 2004-2009. He holds a BS in Business Administration with concentrations in Business Development and Finance from the University of California, Riverside. Key Takeaways Quotes [05:03] - “I think [DoubleLine’s] independence brings forth stability, in terms of the portfolio management team as well as investment teams. The employee ownership…dynamic is also important as well. We are very very proud to say that myself, as well as a lot of our sector heads and portfolio managers, together we collectively have worked togethered for essentially our entire careers - well over 20+ years…That also just goes into the performance of our funds. It’s consistent, you don’t have much turnover, and I think that, to me, is paramount when you think about DoubleLine and part of our strengths.” ~ Morris Chen [27:35] - “Yeah, I think the outlook [for CMBS] is still very positive, and it’s more so on a relative value basis. I’m not here to tell you that it’s very very cheap…on its historical viewpoint…[However], I can tell you that in an environment where investors want Fixed Income, but then they look at the yield that a corporate bond is generating, you can actually come to the CMBS market and buy a similar risk, similar rated bond and pick up that excess yield.” ~ Morris Chen Links Morris Chen LinkedInDoubleLine Capital“Back in Black” by AC/DCConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0760-R-25072

Today on the podcast, Rusty and Robyn are joined by Daryl Clements, Municipal Portfolio Manager at AllianceBernstein. Daryl Clements joined AB in 2002 from a role in credit research. Drawn by the firm's reputation and potential for opportunity, he has played a key role in pulling the municipal market forward through relentless innovation. For Clements, active management means leveraging fundamental and quantitative research to reduce volatility and produce better outcomes. AB has been a leader in using completion funds for the construction of municipal SMA portfolios. Further innovations included developing proprietary research and trading tools for the municipal bond market. The result? Faster, more efficient portfolio construction at AB. Clements relishes change, evolution and the drive to become the number-one bond manager of choice. “We are not a static group,” he says. “We are not happy where we are, ever. We are always moving forward and changing things. We want to seek out differentiation.” Key Takeaways Quotes [07:17] - “If I look at Active Managers in the Municipal market, versus Passive Managers, Active Managers outperform Passive 98% of the time in a rolling three-year period. Over two year periods, it’s 89% of the time, so we’re trying to get investors focused on Active Management and what that means to them.” ~ Daryl Clements [26:53] - “We run [the AbbieOptimizer] multiple times a day. That allows us to now build portfolios in 10 days, not 50 or 60 days, that’s the speed concept of it, less cash drag in a portfolio. Also, we are buying bonds at an average discount. As a liquidity provider, we are getting to those bonds faster than anybody else. We are able to provide execution alpha, which when you combine the two, is worth about 40-50 basis points.” ~ Daryl Clements Links Daryl Clements on LinkedInAllianceBernsteinThis Week in Muni Land“Honky Tonk Highway” by Luke CombsConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0572-R-25058

Today on the podcast, Rusty and Robyn are joined by Felipe Toews, Chief Executive Officer of the Toews Corporation and a Portfolio Manager of Toews Asset Management. Felipe Toews is Chief Executive Officer of the Toews Corporation and a Portfolio Manager of Toews Asset Management. His management strategies focus on creating “investor friendly” products designed to meet investors’ economic and behavioral needs. Phillip is the founder of the Behavioral Investing Institute, an organization devoted to helping advisors manage investor behavior through market challenges. Key Takeaways The Behavioral PortfolioThe Behavioral Portfolio.Quotes [07:45] - “Most of us who have studied Behavioral Finance learn that there’s thinking about something that happened historically, and then there’s having it told in a way that helps you understand or kind of relive the moment. Right, so it’s talking about the story with dialogue in a way that helps you understand it…Seeing the way many advisors and their investors shifted their thinking around portfolios from the top of the market in 07’ to the bottom in 09’ and then throughout the rise of that. I wanted to tell that story, so that advisors could sort of re-understand, for those that lived through it, how challenging actually managing investor behavior and making good decisions around that big downturn was.” ~ Felipe Toews [11:13] - “What Behavioral Coaching…has gotten wrong from the beginning, is it starts with the assumption that the historical accident of the 60/40 portfolio, a portfolio which does not…in all cases meet the economic and psychological needs of portfolios, is what you need to start with and coach around. So what you actually need to do is start around what the portfolio is and how it works…Then the other thing too is that advisors…like to kind of gloss over the worst things that markets can do.” ~ Felipe Toews Links Felipe Toews on LinkedInToews Asset Management“Sweet Disposition” by The Temper TrampAsk Vinh (Instagram)The Behavioral Portfolio by Philip ToewsConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0700-R-25070

Today on the podcast, Rusty and Robyn are joined by Wade Pfau, Director of Retirement Research for McLean Asset Management, Founder of The Retirement Researcher and Co-Founder of the Retirement Income Style Awareness Tool. Wade D. Pfau, PhD, CFA, RICP® is the founder of Retirement Researcher, an educational resource for individuals and financial advisors on topics related to retirement income planning. He is a co-founder of the Retirement Income Style Awareness tool and a co-host of the Retire with Style podcast. He also serves as a principal and the director of retirement research for McLean Asset Management. He also serves as a Research Fellow with the Alliance for Lifetime Income and Retirement Income Institute. He is a professor of practice at the American College of Financial Services and past director of the Retirement Income Certified Professional® (RICP®) designation program. He holds a doctorate in economics from Princeton University and has published more than sixty research articles in a wide variety of academic and practitioner journals. His research has been discussed in outlets including the print editions of the Economist, New York Times, Wall Street Journal, Time, Kiplinger’s, and Money magazine. Wade served for four years as a co-editor of the Journal of Personal Finance. Wade has contributed to Forbes, Advisor Perspectives, and as an Expert Panelist for the Wall Street Journal. He has spoken at the national conferences of organizations such as the CFA Institute, the CFP Board, the FPA, NAPFA, and the Academy of Financial Services. He is also the author of four books in the Retirement Researcher’s Guide Series. Key Takeaways Quotes [05:57] - “When you ask someone basic questions about retirement there’s so much argumentation and conflicting advice, should you be 100% stocks in retirement or should you only use annuities in retirement? I was seeing for a long time that there're different schools of thought…for retirement, and they’re [all] different viable approaches. How do people select them? [My colleague and I wondered if we] could develop an assessment tool to determine what sort of factors are at work here…[RISA was born out of this].” ~ Wade Pfau [08:23] - “So, with the research we did on the RISA we could really see more clearly two key risks and concerns people have for retirement relate to…how concerned am I about outliving my money and also how concerned am I that I won’t have reserves available to deal with spending shocks like a long-term care event…So, what we saw was that the risk tolerance score, whether I’m comfortable with short-term market volatility, had no relationship to whether I’m worried about outliving my assets or worried about having reserves to deal with unexpected spending.” ~ Wade Pfau Links Wade Pfau on LinkedInRetirement Researcher“The Good, The Bad and The Ugly by Ennio MorriconeRetirement Planning GuidebookRetire With Style PodcastRISA ProfileConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by Toews Asset Management. Toews Asset Management and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. McLean Asset Management is a third party strategist available on Orion Communities. Orion Communities is a product of Orion Advisor Technology, LLC (“OAT”). Orion Portfolio Solutions, LLC (“OPS”), a registered investment advisor, makes third-party strategists available through Orion Communities and is also a strategist on the platform. OAT and OPS are affiliated companies through their parent company Orion Advisor Solutions, Inc (“Orion”). Orion and McLean Asset...

Today on the podcast, Rusty and Robyn are joined by Anmol Sinha, a Fixed Income Investment Director at Capital Group, home of American Funds. He has 15 years of investment industry experience and has been with Capital Group for one year. Prior to joining Capital, Anmol worked as an EVP - fixed income strategist at PIMCO. Before that, he was a consultant at NERA Economic Consulting and also worked on a capital markets team at Citi. He holds an MBA from Columbia Business School, a master's degree in economics from New York University and a bachelor's degree in economics from University of California, Berkeley. Anmol is based in Los Angeles. Key Takeaways Quotes [15:27] - “You could argue that [historically] markets have taken their direction a lot from monetary policy. What is the Fed likely to do, what are they telling you about growth implications and their policy, and then you imply your own growth and inflation expectations. Now you could argue, fiscal policy is going to be a bigger driver. Some of our portfolio managers have been talking about this trend. That is not an environment investors have been used to.” ~ Anmol Sinha [33:12] - “[In Fixed Income] you have a lot of players that are inherently not economically driven…Think central banks, commercial banks, even insurance companies. They buy bonds for reasons other than maximizing their return…They have reserves, they have regulatory requirements…all sorts of things that drive behavior in the market, that isn’t necessarily maximizing a return. What percent of the market are they? The estimates vary, but they could be…40-50% of the market, and the Fixed Income market is something like 120 Trillion…So, when you think about a good chunk of players in this market playing by different rules, it creates inefficiencies. So, structurally, active managers can take advantage of that.” ~ Anmol Sinha Links Anmol Sinha on LinkedIn“Beautiful Day” by U2“It Don’t Get Better Than This” by Royal DeluxeCapital GroupConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code:

Today on the podcast, Rusty and Robyn are joined by Russ Koesterich, portfolio manager at BlackRock in Denver, CO. Russ Koesterich, CFA, JD, Managing Director and portfolio manager, is a member of the Global Allocation team and the lead portfolio manager of the GA Selects Model Portfolios. Mr. Koesterich's service with BlackRock dates back to 2005, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. He joined the BlackRock Global Allocation team in 2016 as Head of Asset Allocation and was named a portfolio manager of the fund in 2017. Previously, he was BlackRock's Global Chief Investment Strategist and Chairman of the Investment Committee for the Model Portfolio Solutions business, and formerly served as the Global Head of Investment Strategy for scientific active equities and as senior portfolio manager in the US Market Neutral Group. Prior to joining BGI, Mr. Koesterich was the Chief North American Strategist at State Street Bank and Trust. He began his investment career at Instinet Research Partners where he occupied several positions in research, including Director of Investment Strategy for both U.S. and European research, and Equity Analyst. He is a frequent contributor to financial news media. Mr. Koesterich earned a BA in history from Brandeis University, a JD from Boston College and an MBA from Columbia University. He is a CFA® Charterholder. Key Takeaways Quotes [10:52] - “The gold exposure is one that a lot of people ask, what does gold do? Gold is a store of value. It enables you to have something in the portfolio that you would expect to hold up better if we continue to see developed countries running these huge deficits. It’s a very specific exposure, it serves a very specific purpose in the portfolio, but again having the flexibility to have a small amount of that really results in…building a more robust multi-asset portfolio.” ~ Russ Koesterich [12:28] - “What [our actively managed funds] all have in common is, again, very specific mandates, very specific risk control and the ability to access types of investments [or] alpha streams that you really can’t do with passive products.” ~ Russ Koesterich Links Russ Koesterich on LinkedIn“I Believe That We Will Win (World Anthem)” by PitbullBlackRockConnect with Us Meet Rusty Vanneman, Orion’s Chief Investment OfficerCheck Out All of Orion’s PodcastsPower Your Growth with OrionDisclosure(s) - Orion Portfolio Solutions, LLC, an Orion Company, is a registered investment advisor. Advertisement sponsored by [Toews Asset Management]. [Toews Asset Management] and Orion Advisor Solutions, Inc. (“Orion”) are not affiliated companies, and the advertisement is not a recommendation or endorsement by Orion for any of the services referenced or provided. Orion does not endorse any particular third-party product or service. Compliance Code: 0342-R-25034