Gaining Perspective

Ignore short-term market moves and volatility. The biggest investment returns are driven by a handful of outliers in the long run. Growth investing is for patient capital seeking long runways for companies that will ultimately generate outsized returns for investors. Baillie Gifford is uniquely positioned as a global asset manager that is entirely owned by a private partnership. My guest today, Stuart Dunbar, has identified a few technologies that will be important in driving growth in sectors where we will see transformation in the years to come.

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Here are some links to learn more about Ballie Gifford and its products:

• A video where Stuart Dunbar explains why focusing on innovation and ignoring short-term market fluctuations is key to backing future winners.
• An article by Stuart Dunbar explaining that it’s not about growth or value; it’s about trying to identify the small number of companies that have the potential to be truly world-beating.
• A podcast where Stuart Dunbar looks at the purpose of investing.

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Fulcrum Asset Management oversees $6.2 billion in assets. It is headquartered in London and has an office in New York. Like the other executives at Fulcrum Asset Management, Nabeel Abdoula is enthusiastic about the ability of macro fund strategies to deliver results for the clients of advisors during the tough times as well as better economic/market conditions.

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Here is a link where you can learn more about Fulcrum Asset Management.

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Advisors are increasingly using annuities when they determine that it is in their clients’ best interests. They recognize that it is a client’s income – not their wealth – that matters in retirement, and annuities are the only way to provide a longevity-protected income solution. Rising inflation and uncertainty over high market valuations have made the need to secure lifetime income more acute, and rising interest rates have made annuities more affordable.

Here to discuss how to help clients and prospects determine if an annuity is a good fit for their financial needs are three members of the Protective Life team: Lori Marino, Tom Sullivan and Mark Berwanger.

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Here is a link where you can learn more about Protective.

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In the next 10 years, 37% of financial advisors, collectively controlling $10.4 trillion, or 40% of the assets controlled by the advisory profession, are expected to retire. Yet, one in four advisors who expect to transition their business in the next 10 years is unsure of their succession plan.

Commonwealth Financial Network’s Matt Chisholm, SVP of RIA services and practice management, is here today to break down the options and opportunities for advisors looking to grow their practice in anticipation of succession. He will share how they can plan for the future.

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Here is a link where you can learn more about Commonwealth Financial Network.

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Clients and prospects are demanding a more flexible, iterative financial planning process that evolves as their financial lives do. That is why my guest today created Elements, a mobile-first, client-centric, financial monitoring platform. Elements builds a one-page financial plan that helps the modern advisor remain in closer, deeper communication with clients as their financial needs shift. It encourages better behaviors with clients that promote financial health by displaying digestible pieces of critical financial data, including debt, savings, spending, insurance, investments, and more.

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Here are additional resources:

• Elements home page
• The Advisor Substack
  
• Reese Harper on LinkedIN
• Subscribe to the Elements podcast
• Blog posts by the Elements team
• Videos by the Elements team
• Webinars by the Elements team
• A "Meet Reese" webinar

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Balancing the needs of your clients with the needs of your advisory business is challenging, but it’s essential to maintaining growth and scale. My guests today will discuss how to navigate the challenges advisors face through phases of growth by identifying opportunities to increase value, drive growth, and boost your firm’s performance. From client segmentation to succession planning to other key issues, my guests will identify the key decisions advisors must make to build a sustainable, successful business.

AssetMark is a turnkey asset management platform for financial advisors specifically tailored to help investors achieve their life goals. It supports more than $80 billion in client assets. 

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“Maneuver the economic downturn while supporting your clients effectively and strengthening your business with the new guide, Recession Proof Your Business.”

Here is a link where you can learn more about AssetMark and its business consulting services.

Take the First Step With AssetMark here.

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Last year, 2022, was very challenging for equities, particularly for growth-equity investing. Today, we’ll be discussing the style headwinds investors faced last year and the outlook for high-quality, large-cap growth investing in 2023. The William Blair Large Cap Growth fund (LCGFX) focuses on growing companies in growing industries – what its team calls structurally advantaged companies – whose long-term growth they believe will persist in a variety of economic environments.

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Here is a link where you can learn more about William Blair’s large-cap-growth strategy.

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This year, 2023, markets are poised for performance dispersion among equities (i.e., some stocks will do quite well and some quite poorly). That means it pays for growth and tech equity investors to be selective. We face a challenging economic outlook, from rates to a potential recession, but there are themes will shine within growth and technology. Here to explain how advisors can be more precise about where to find opportunities to navigate challenging near-term economic conditions, while seeking to capture exposure to long-term structural megatrends, is Jay Jacobs.

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Here is a link to Jay’s outlook, 2023 Thematic outlook: Rethink growth.

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The asset management industry is infected with buzzwords. Nowhere is that more obvious than in technology. Advisors are confronted with an array of labels like innovation, disruption, AI and deep learning. My guest is here to explain how providers of thematic technology ETFs are abusing industry buzzwords. You will learn how to inspect an ETF to prevent being victimized by “techwashing” – throwing buzzword labels on investment products with the goal of improving their marketing appeal but not necessarily their performance.

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Here are links to the TrueShares web site and to the LRNZ fund page.

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Last year, 2022, the 10-year bond yield rose 225 basis points, delivering record losses to bond investors. Equities were not much better, as the S&P lost 18.11% of its value. But this year has been different. The 10-year yield is down 27 basis points, and the S&P 500 is up 6.08%. Here to discuss whether those rallies in stocks and bonds will continue, and how advisors can protect portfolios from the volatility that we saw last year is Tim Urbanowicz.

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Here is a link to the Innovator ETF web site, where you can read more of the research that Tim and his team produce, and about Innovator’s defined-outcome product suite.

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