The InvestmentNews Podcast

Join BNY Mellon’s David Moss, Growth Ventures Partner, and Aaron Steinberg, Head of Prime Services Business Development and Capital Introductions, for the latest InvestmentNews podcast hosted by Senior Columnist and reporter, Bruce Kelly. In this episode, we dive into the expanding realm of alternative investments and explore why these assets are capturing the attention of both advisors and individual investors. David and Aaron share their unique perspectives on the future of investing, discussing how new innovations are making alternative investments more accessible and manageable for the wealth management community. During this podcast, you will gain key insights into the macro-outlook for private markets, the importance of diversity and downside protection, as well as the challenges and strategies surrounding investing in alternatives. Highlights include: • The expansive growth opportunities for private markets and alternatives among advisors and individual investors • Key factors impacting adoption – access, education, and experience – and how fund managers are addressing each in order to attract new investment • Technological advancements and rapid innovation taking place to facilitate greater access and flexibility in private markets and alternatives To learn more, press play and listen to the podcast

As we celebrate Women’s History Month, join our latest podcast for a deep dive into the impact women are making in alternative investments and across the financial sector. We’re joined by Lisa Lewin, Director of Business Development on BNY Mellon Pershing’s Prime Services team, who shares insights around women in leadership roles at hedge funds, the value of diversity, and supporting the growth of women in the industry. Topics include: - The changing roles of women in the hedge fund industry, particularly in investment-focused positions, and what it means for the industry - Exclusive data from BNY Mellon around women’s representation in C-Suite roles in financial services and investor trends around diversity - Ways in which companies can continue to grow the talent pipeline and foster team diversity – and much more Don’t miss this highly informative podcast – hit play now!

In 2024, allocators are considering reducing allocations from public markets and traditional investment strategies, and reallocating to alternative investments in order to diversify their portfolios. Aaron Steinberg, Head of Prime Services Business Development and Capital Introductions at BNY Mellon’s Pershing, breaks down key findings from his team’s recent alternative investment allocator survey, including the main drivers for investors allocating to both private credit and hedge funds, and key investment themes on the horizon for 2024. Don’t miss this highly informative podcast – hit play now!

Bruce talks to Steve Sanders from Interactive Brokers about how some broker-dealers are 'in a bit of a pickle' due to how they invested client cash.

Bruce talks to eMoney Advisor’s Matt Schulte and Dr. Emily Koochel about financial advisors and financial psychology, engaging and motivating clients and the experience of financial planning.

In the fast-changing world of wealth management, leaders need innovative ways to stand out and prosper. To remain competitive, attract talent, and fuel growth, firms need a modern strategy and approach. So, what does this look like? In this episode Bruce Kelly sits down with Ken Hullings, EVP, Institution Business Development at LPL Financial to uncover how firms can set themselves apart from the competition and better serve their clients. Don’t miss out – hit play now.

Bruce chats with Rob Isbitts, founder of ETFYourself.com, former financial advisor and fund manager, about interest rates, the bond market, and what fixed-income ETFs to consider right now.

Ryan Neal talks about Future Proof and the Schwab/TD integration.

Bruce is joined by Peter Mallouk, president and CEO of Creative Planning, to discuss the RIA giant’s recent deal for Goldman’s RIA, the former United Capital Financial Partners.

Bruce is joined by Ron Carson, founder and CEO of Carson Group, and John Furey, managing partner of Advisor Growth Strategies, to talk about Goldman’s sale of United Capital and how financial advisors can move beyond a mindset of fear and scarcity. This episode is sponsored by Schwab Asset Management.

The InvestmentNews podcast returns after a summer hiatus. In this episode, Bruce talks to fellow reporters Ryan Neal and Emile Hallez, respectively, about AI and college debt. Guest Bios: Ryan Neal is technology editor at InvestmentNews. Originally from Northern California, Ryan received bachelor’s degrees in English and philosophy from UC Santa Barbara before beginning a career in journalism at the Santa Barbara Independent. After a few years of freelancing, bartending and snowboarding in Colorado, Ryan moved to New York to earn a master’s degree in journalism at Columbia University. He has covered the advisor fintech beat since 2014. Emile Hallez is ESG editor at InvestmentNews. Previously he was U.S. news editor for ESG Clarity, covered retirement at InvestmentNews, and worked as a reporter and associate editor at Ignites, a Financial Times publication. Prior to his work in financial journalism, he cut his teeth as a reporter at Evergreen Newspapers, a small chain of community papers in Colorado. Going back even farther in time, he worked as a technician at a tissue bank, making bone, soft tissue and skin grafts. Emile is passionate about cycling, rock climbing, and environmental and animal rights issues. He can often be found exploring the woods of Maine with his wife, Meika, and rescue mutts Piper and Buckey.

The inaugural episode of the InvestmentNews Podcast doesn’t hold back; diving into essential topics for the financial advice industry from diversity to succession planning to potential layoffs and cost cutting to come at large firms that advisers rely on for service and technology. This episode includes a free-wheeling discussion of four main topics: diversity issues in the financial advice industry; potential big firm layoffs; what’s the market outlook for the second half of 2020 and succession planning. The final segment, called Open Notebook, explores the risks for advisers taking PPP loans. Please share on Twitter.

The momentum continues with the second weekly episode of the InvestmentNews Podcast, where senior columnists Jeff Benjamin and Bruce Kelly take opposing sides of some important issues facing the wealth management industry. This week Jeff and Bruce scratch beneath the surface of SEC chairman Jay Clayton’s contributions to the financial services industry, what recourse brokers have when consolidation leads to pay cuts, why outsourcing makes sense for advisers, how financial service industry professional sometimes talk when clients aren’t around, and Doc Kennedy’s legal wrangling. Keep the conversation going on twitter @InvestmentNews

Episode 3: The new reality of Reg BI & why brokers and advisers will continue to butt heads. by The InvestmentNews Podcast

The SBA released the list of PPP loan recipients recently and the wealth management industry is scrambling to justify their loans while operating a fee-based business model. What exactly are semitransparent ETFs and why do they matter? As these unique new funds slowly come to market, questions remain as to whether the market has any interest. Cetera’s new head of recruiting has a steep hill to climb to compete with deep-pocketed BD recruiting giants like LPL. The state of the financial markets and the economy suggest now is the time for diversification into alternative investments. And Bruce Kelly made his first trip to the office since March for a glimpse of what work might look like going forward.

As Joe Biden releases his tax plan, we fold in a deep dive into the odds of a financial transaction tax hitting wealth management. The pace of mergers and acquisitions in the RIA space fell off pace from March through May, but ramped back up in June, suggesting the second half of the year could be on pace with the record levels of 2019. IN technology reporter Nicole Casperson joins the podcast to explain Wells Fargo’s challenges getting the TikTok app removed from company-issued devices. And Nicole, who was hired in May, shares her perspective on what it’s like to be interviewed, hired, and start a new job without a single in-person meeting with her new colleagues.

Dani Fava emerged this week as the latest example of fallout from Schwab’s pending $26 billion acquisition of TD Ameritrade. She explains her rationale for joining Envestnet to take on new challenges. Bruce explains how the math doesn’t add up at GPB Capital, where the latest public filings point to a $200 million gap at this alternative investments operation. The conundrum of why zero-fee funds don’t always fly off the shelf has the asset management industry scrambling to find the sweet spot when it comes to expense ratios. Spoiler alert, brand names matter. Securities America’s quest for scale through acquisitions is leaving a lot of reps waiting on hold as the near-constant state of consolidation creates headaches and technology glitches that might not have been anticipated. And in the popular Open Notebook segment, Jeff and Bruce ponder how far is too far when it comes to leaning on a global pandemic as an excuse for lousy service.

InvestmentNews senior reporter Mark Schoeff, a veteran Washington insider, takes us behind the scenes of Congress and regulatory rule making to highlight the hurdles facing ESG investments trying to get a piece of the lucrative retirement savings market. Bruce details the sad regulatory track record of Purshe Kaplan Sterling, where million-dollar-plus settlements are too common. We explain why The Vanguard Group throws in the towel in a 20-year battle with value investing by folding a $1 billion actively-managed mutual fund into a $77 billion index fund. Earnings season is here, and the message is becoming clearer that fallout from the coronavirus is changing the way brokers and advisers move between firms. And this week’s Open Notebook segment explores how a lack of industry conferences and a face-to-face meetings with sources is changing the way we gather the good gossip.

Recruiting behemoth LPL Financial never lets up, and we look at the latest effort to expand the footprint. Skip Schweiss becomes the latest high-profile exec to jump ship at TD Ameritrade ahead of the Schwab acquisition. Morgan Stanley’s acquisition of ETrade has left the big bank with a small custody business that might not have a permanent home. And in the Open Notebook segment Jeff and Bruce delve into the reality of placing “chief” in front of anything and everything to make us all feel better about ourselves.

Merrill Lynch has learned that broker trainees are one group of employees that is not best suited for the remote work environment. The wirehouse has temporarily shuttered its trainee program after some of the cold-calling newbies apparently went off the rails. Who didn’t see this happening? Jeff and Bruce take another look at the potential conflicts of interest that could arise as Morgan Stanley continues to absorb ETrade’s custody business. What’s up with buffered ETFs? Jeff and Bruce discuss how they work, when they work, who needs them and the reason they cost so much more than other ETFs. The pace of consolidation in the RIA space is an ongoing story, but as the biggest buyers get bigger, is it possible the consolidators will start consolidating? We tell you what the biggest buyers are doing and how. And in the Open Notebook segment, we celebrate the unusual level of access to high-level industry executives. It’s one of the upsides of a pandemic lockdown that has left everyone with more time on their hands.