Category: Financial
The WealthStack Podcast: Why Direct Indexing is The Future of Investing with Patrick Shaddow

The WealthStack Podcast: Why Direct Indexing is The Future of Investing with Patrick Shaddow

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When it comes to direct indexing, adoption and understanding has historically lagged because the tools were not readily available to advisors, and/or they were not intuitive to use. The evolution of direct indexing is not just a trend but a fundamental shift in the investment management industry, driven by technological innovation and the changing needs of investors. It offers financial advisors a way to differentiate themselves by providing unique, personalized portfolio constructions that cannot be easily replicated by competitors.

In this special episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Patrick Shaddow, President & CEO of Syntax Data, about why direct indexing is set to transform the investment landscape.

Shannon and Patrick also discuss:

  • The benefit for advisors to create their own indices
  • Why the industry is at a tipping point with direct indexing and the technology behind it
  • How Syntax helps advisors and their clients navigate the complexities of ESG investing
  • What’s up with Texas?

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Connect with Patrick Shaddow

About Our Guest:

Patrick Shaddow has been engaged in all aspects of indexation for over 15 years. He has worked directly with a wide range of financial institutions on index development, index production, data acquisition and dissemination, business development, and index marketing and promotion.

Patrick joined Syntax in September 2021 as President with a mandate to organize the company’s internal structure, scale up its operational resources, and commercialize its unique intellectual property. As President, Patrick initiated data sales and licensing processes with a wide range of financial intermediaries, providing clear “proof of concept” for roll-out plans.

Prior to joining Syntax, Patrick served as Head of Index Operations at S-Network Global Indexes, where he led a team of 20 professionals. At S-Net, Patrick oversaw the development and daily production of over 350 indexes, including approximately 100 indexes licensed to serve as the basis for financial products holding over $30 billion in assets under management. Patrick also oversaw the development of S-Net’s index production and distribution platform and the technology infrastructure that supported it. He negotiated and managed the company’s data licenses and entitlements, working closely with a range of providers including Refinitiv, Bloomberg, FactSet, the NYSE, and others. Patrick participated in the 100% equity sale of S-Net to a private equity company in 2020 and was a member of the management team of Alerian/S-Network until July of 2021.

Prior to joining S-Network, Patrick worked as an index analyst at Dow Jones Indexes. He is a graduate of Rutgers University School of Business with a concentration in management information systems. Patrick is married with three children.

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The WealthStack Podcast: Unlocking AI and Data Strategies: CTO Think Tank Insights with Michelle Feinstein

The WealthStack Podcast: Unlocking AI and Data Strategies: CTO Think Tank Insights with Michelle Feinstein

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When you’re a technology leader at a $1B+ wealth management firm, there’s a lot that can keep you up at night. Technology issues are evolving, but fortunately, so are solutions. When it comes to the role of the CTO, technical and analytical skills are only part of the job. It might be the case that no skill is as important as agility: the ability to assess the needs of your organization at a particular moment, and to change your tools and tactics over time to satisfy advisors and their clients.

In this special episode, Shannon Rosic, Director of WealthStack Content and Solutions, speaks with Michelle Feinstein GM/VP Global Financial Services Solutions & Strategy Salesforce, about the findings from the 2024 CTO Think Tank that was hosted at Wealth Management EDGE.

Shannon and Michelle also discuss:

  • The importance of a data governance strategy
  • Where firms are leveraging AI and unlocking the power of data
  • Operational efficiency of client portals
  • Why firms are prioritizing middle office scalability and productivity tools

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Connect with Michelle Feinstein:

About Our Guest:

Michelle Feinstein is general manager and vice president, Global Wealth & Asset Management Solutions & Strategy for Salesforce Industries. Her expertise is in digital transformation for wealth management. This process of digitization is complex, it requires firms to accelerate plans to harness data, digitize advisor-client experiences, and modernize service to scale and support growth.

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The WealthStack Podcast: Financial Fitness: Strengthening Futures with Healthcare Planning

The WealthStack Podcast: Financial Fitness: Strengthening Futures with Healthcare Planning

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It’s no secret that the healthcare and financial services industries are incredibly complicated and often don’t easily talk to one another. In fact, medical bills are reported to be the number-one cause of U.S. bankruptcies. Healthcare costs represent a significant portion of an individual’s or family’s financial landscape, especially as they age. Ignoring this critical component can lead to unforeseen financial burdens, which may disrupt even the most meticulously crafted financial plans. By proactively addressing healthcare costs, advisors can help clients better anticipate and manage these expenses, thereby ensuring a more secure and predictable financial future.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Christine Simone, CEO of Caribou, about why healthcare planning can differentiate financial advisors in a competitive market.

Shannon and Christine also discuss:

  • Common challenges when it comes to healthcare planning
  • Tangible benefits for advisors and their clients 
  • How integration of healthcare planning enhances the personalization of financial advice
  • How AI is changing the healthcare industry 

Connect with Shannon Rosic:

Connect with Christine Simone:

About Our Guest:

Christine co-founded Caribou in 2020, where she serves as the CEO and plays a central role in developing and offering their healthcare planning software. Prior to that, she worked at CoHealth (formerly Dash MD) from 2019 to 2020 as the Manager of Client Success and Implementation. At CoHealth, she oversaw the successful implementation of their mobile platform within healthcare systems and acted as a liaison for communication with partners. From 2017 to 2019, Christine worked at eSight Eyewear as a Special Project Coordinator and Vision Advocate, where she was responsible for growing the business in a designated territory and evaluating client eye conditions. Christine’s earlier work experience includes a role as a Researcher at Vancouver Coastal Health, where she gained valuable skills and knowledge in behavioral neuroscience and conducted research on potential novel therapeutics.

Christine holds a Bachelor of Science (BSc) degree in Biology from The University of British Columbia.

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The WealthStack Podcast: Bringing the Power of Planning to Philanthropy

The WealthStack Podcast: Bringing the Power of Planning to Philanthropy

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Philanthropy often remains an overlooked aspect in wealth planning, which traditionally focuses on wealth accumulation rather than distribution. But, high-net-worth individuals and families increasingly recognize that their financial legacy extends beyond the accumulation of assets. This growing interest in philanthropy demands a more integrated approach to planning, where giving is strategically aligned with overall financial goals. Platforms like PhilanthPro are bridging the gap by offering professional planning tools specifically designed for philanthropic giving. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Nicholas Palahnuk, Founder and CEO of PhilanthPro, about the importance of philanthropy in wealth planning.

Shannon and Nicholas also discuss:

  • The key drivers behind philanthropic contributions and why tax benefits are not the primary motivator
  • How PhilanthPro aids in managing the complexities of tax, legal, and regulatory obligations in charitable giving
  • How the Great Wealth Transfer and shifting demographics are transforming Philanthropy 
  • How this tech is different from grant management software that’s currently available

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Connect with Nicholas Palahnuk:

About Our Guest:

Nicholas Palahnuk is the Founder and CEO of PhilanthPro. Recognizing a gap in the financial industry, he brought to life a suite of tools to foster philanthropy for a brighter future.

Palahnuk also leads a wealth management group that empowers people to live and give comfortably through sound financial planning. The Globe & Mail Report on Business named him one of Canada’s top wealth advisors. In 2020, he was nominated top under 40 by the Investment Industry Association of Canada.

Palahnuk is a member of the Forward Global philanthropy community and studies global development at Harvard University. He also founded a private foundation in 2021 to fund innovative programs that build greater mental health resilience among young people. 

Passionate about financial planning from an early age, Palahnuk became the youngest Certified Financial Planner in Canada at the age of 21. He lives in Toronto and splits his time between Canada and the US.

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The WealthStack Podcast: How RIAs Can Prepare for The Latest SEC Cybersecurity Rules

The WealthStack Podcast: How RIAs Can Prepare for The Latest SEC Cybersecurity Rules

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SEC compliance is top of mind for RIAs across the country, and their cybersecurity needs are specific. RIAs have a fiduciary responsibility to protect their clients’ data and assets, which can be vulnerable to cyber-attacks. A data breach could result in fines, penalties, and reputational damage. With the SEC proposing new rules to address cybersecurity risks, RIAs need to be prepared to future-proof their practice.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Michael Cocanower, Founder and CEO of Advisercyber, about what pending regulations mean for RIAs.

Shannon and Michael also discuss:

  • What role the advisor plays when mitigating risks
  • Why the SEC believes firms are underinvesting in cyber solutions
  • What the AI arms races means in the context of regulation
  • How RIAs can effectively respond to and recover from a cybersecurity incident

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Connect with Michael Cocanower:

About Our Guest:

Michael Cocanower is the founder and CEO of AdviserCyber. He has over 25 years of experience in the IT field, and specifically designed AdviserCyber to assist Registered Investment Advisors (RIAs) in complying with the most sweeping SEC cybersecurity requirements in history. Michael has led IT consulting organizations empowering small and mid-market businesses with strategic guidance. Michael is recognized as an Investment Adviser Certified Compliance Professional (IACCP ®), as well as a Certified Ethical Hacker.

Born and raised in Phoenix, Michael earned Bachelor of Science degrees in both finance and computer information systems from Arizona State University. He went on to serve in technology consulting positions for various Arizona-based companies, as well for industry giants such as Microsoft and Cisco. Michael served on the Board of Directors of the International Association of Microsoft® Certified Partners for many years and is also a past president of the Arizona Chapter of Entrepreneurs Organization. Michael is a black belt in the Kang-Sul division of Hwa Rang Do, a trained sniper, and runs in excess of 50 miles per week. In his spare time he is up for just about any type of life adventure offers to him.

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The WealthStack Podcast: The Importance of a Growth Partner with Andree Mohr

The WealthStack Podcast: The Importance of a Growth Partner with Andree Mohr

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For financial advisors, having a growth partner is essential for achieving sustainable success and scaling their business. The right partner can provide strategic insights, and enhance an advisor’s operational efficiencies and client service capabilities. Through strategic partnerships, advisors can access new markets and opportunities more effectively, manage risks better, and stay ahead of industry trends, ultimately leading to increased client satisfaction and higher growth rates. 

 In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Andree Mohr, President of Integrated Partners, about the importance of a growth partner.

Shannon and Andree also discuss:

  • Why Integrated’s CPA Alliance is a game changer 
  • Successful transition stories, including an advisor who saw 96% organic growth
  • How the role of technology impacted Integrated’s strategy for onboarding, training, and supporting advisors
  • Tech that’s standing out in a crowded marketplace 

Resource:

Connect with Shannon Rosic:

Connect with Andree Mohr:

About Our Guest:

Andree supports growth on many levels as the President of Integrated. In this role, She oversees the day-to-day operations, manages budgets, and drives the firm’s key objectives to ensure the consistent and healthy growth of the organization. A particular passion of hers is helping entrepreneurial-minded financial advisors implement strategic operations that enhance efficiencies, foster practice growth, and bring their business visions to fruition. Through Integrated’s CPA Alliance program, she assists CPA partners in monetizing their most trusted advisor status while simultaneously aiding clients in their financial planning and tax needs.

She is also the co-author of “Center Stage: How to Become the Star of Your Practice” along with Matt Ackermann. The book focuses on operational, team building, and business processing efficiencies to help empower advisors to streamline their practices. The end result: advisors will have a roadmap to grow their business, leave a lasting legacy, and ultimately provide a boutique, concierge, memorable experience for their clients.

Her professional background includes graduating from Northeastern University, with an emphasis on experiential learning. She has been supporting advisors in various capacities for the last 13 years and truly enjoys helping them with their growth endeavors, facilitating business optimization, and ultimately watching them realize their goals.

Rounding out her life involves spending time with her husband and twin daughters, passionately cheering on the New England Patriots, traveling, and supporting charitable causes that are important to her.

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The WealthStack Podcast: How LPL Approaches Digital Transformation with Greg Gates

The WealthStack Podcast: How LPL Approaches Digital Transformation with Greg Gates

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LPL Financial has been a leader in the independent broker/dealer space for years, serving nearly 22,000 financial advisors representing over $1 trillion of brokerage and advisory assets. This means the business needs its infrastructure to be fast, reliable and secure. Everything LPL does is positioned around helping advisors take care of their clients, with technology being a driving force. 

In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Greg Gates, CTO of LPL, about how technological advancements are driving the firm’s digital transformation.

Shannon and Greg also discuss:

  • 2024 plans around tech spend 
  • LPL’s stance on artificial intelligence
  • How the firm prioritizes tech initiatives for advisors 
  • Striking the right balance when it comes to scaling the business 

Connect with Shannon Rosic:

Connect with Greg Gates:

About Our Guest:

Greg Gates is managing director and Chief Technology & Information Officer for LPL Financial. In this role, Mr. Gates is responsible for managing all aspects of the firm’s technology and systems applications. He leads a high-performing information technology organization responsible for delivering technology solutions and market-leading platforms that enable positive, compelling experiences for LPL advisors and employees.

Mr. Gates joined LPL in 2018 with nearly two decades of senior-level management experience focused on the application of technology to solve business challenges on a global scale. Before joining LPL, Mr. Gates led Product Management and Engineering teams at PayPal from 2011 to 2018, focusing on internal technology platforms, merchant and consumer experiences, risk and security, and global operations. Prior to that, at Bank of America, he led a number of technology organizations, culminating in leadership of Bank of America’s Contact Center Technology from 2002 to 2011.

Mr. Gates earned his bachelor’s degree in biomedical engineering from Vanderbilt University in 1999, and successfully completed multiple leadership, continuing education, and certification programs from several organizations. He recently served on the Pega Platform Customer Advisory Board at Pegasystems, and previously served on Avaya’s customer advisory board. He is currently on Box, Inc.’s CIO Advisory Board.

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The WealthStack Podcast: Why Estate Planning is The Next Frontier of Wealth Management with Gene Farrell

The WealthStack Podcast: Why Estate Planning is The Next Frontier of Wealth Management with Gene Farrell

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Is estate planning the next frontier of wealth management? Estate planning solutions are becoming steadily more popular with advisors, especially those seeking to differentiate their services. As clients become increasingly aware of the complexities of wealth transfer, asset protection, and legacy planning, they expect comprehensive guidance from their advisors. By using estate planning tools, advisors can offer a holistic approach to wealth management, addressing not only investment strategies but also the essential aspects of estate distribution and tax implications. 

In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Gene Farrell, CEO of Vanilla, about the emerging trends in estate planning and why it’s becoming a critical part of wealth management.

Shannon and Gene also discuss:

  • Why estate planning is becoming a differentiator for financial advisors 
  • The biggest misconceptions around estate planning
  • Why the great wealth transfer is driving technological changes
  • The impact AI is having on estate planning software

Connect with Shannon Rosic:

Connect with Gene Farrell:

About Our Guest:

With over 25 years of executive leadership experience driving transformation and growth across the consumer and technology industries, Gene is a recognized thought leader and innovator known for building disruptive new businesses for global brands. He was named a 2019 Innovator of the Year by the Puget Sound Business Journal. 

Prior to Vanilla, Gene spent 4 1/2 years at Smartsheet where he helped take the company public and scale the business from $100M to over $500M in revenue. As Smartsheet’s Chief Strategy and Product Officer Gene was responsible for leading company strategy, corporate development, product management, product marketing, experience design, and strategic alliances. Gene joined Smartsheet from Amazon Web Services where he spent five years as a vice president responsible for enterprise computing. In this role, Gene pioneered new cloud businesses including Amazon WorkSpaces and Amazon Chime. Before Amazon, Gene was a vice president at the Coca-Cola Company, where he founded and led the creation of the Coca-Cola Freestyle beverage platform. His groundbreaking work on Coca-Cola Freestyle was recognized by Forbes as one of the best new products of the decade and received the Edison Gold Innovation and Catalyst Design awards.



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The WealthStack Podcast: Crypto’s Journey to the Mainstream WIth Adam Blumberg

The WealthStack Podcast: Crypto’s Journey to the Mainstream WIth Adam Blumberg

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The approval of spot Bitcoin ETFs by the Securities and Exchange Commission dominated trends in the first quarter of 2024. But how did we even get to this point? While Bitcoin has been around since 2009, cryptocurrencies have quickly evolved from digital novelties to trillion-dollar technologies, poised to disrupt the global financial system. Digital currencies are being increasingly viewed as investments, which is why advisors need to be educated about the subject.

In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Adam Blumberg, co-founder of Interaxis, about how advisors can prepare themselves and their clients for a crypto-inclusive future. 

Shannon and Adam also discuss:

  • The current regulatory landscape 
  • Crypto’s viability as an investment
  • The implications of blockchain technology 
  • Why decentralized finance and Web3 represent significant advancements 

Connect with Shannon Rosic:

Connect with Adam Blumberg:

About Our Guest:

Adam is a Certified Financial Planner, and a former registered investment advisor. He co-founded Interaxis in 2019 to educate advisors and investors on digital assets and decentralized finance. His Interaxis YouTube channel is viewed by thousands across the globe. He is a regular contributor to Coindesk’s Crypto for Advisors and was featured on Bloomberg TV and Blockworks. 



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The WealthStack Podcast: Top Tactics For High-Growth Firms WIth Sara Baker

The WealthStack Podcast: Top Tactics For High-Growth Firms WIth Sara Baker

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For years, firms have benefited from a rising equity market and an equally long period of near-zero interest rates. RIAs found themselves in a position where they could achieve growth with minimal effort. However, most executives in wealth management are not content with this passive approach to growth. The secret to RIA growth lies in keeping sight of their priorities. In order to differentiate in a ‘sea of sameness,’ RIAs have turned their attention to innovation and tailored client experiences. 

In this episode, Shannon Rosic, director of WealthStack content and solutions, speaks with Sara Baker, president of Triad Wealth Partners, about the tactics high-growth firms are focusing on in order to succeed.

Shannon and Sara also discuss:

  • Why refining service models could lead to growth 
  • The imperative role of technology in scaling operations and improving client experiences
  • The critical distinction between growth and scale for firms
  • How to balance innovation and tradition within an organization

Connect with Shannon Rosic:

Connect with Sara Baker:

About Our Guest:

Sara Baker, JD, LLM, is President of Triad Wealth Partners. She is a leader with over 15 years of financial services experience in M&A, integrations, start-ups, product operations, project management, strategic planning, tax planning, and advanced financial planning. 



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