The InvestmentNews Podcast

Bruce Kelly, senior columnist at InvestmentNews, sits down for a candid chat with industry veteran Jamie Price, CEO at Osaic, to discuss what's behind the vibrant M&A market, Osaic's position in the market, and why he believes we are entering the Fourth Industrial Revolution.

It's been more than two months since LPL Financial rocked the US wealth management world by acquiring broker-dealer rival Commonwealth Financial Network. InvestmentNews senior columnist Bruce Kelly sits down with colleague James Burton to discuss the aftermath, including angry Reddit chat groups and aggressive recruiters.

Bruce Kelly, senior columnist at InvestmentNews, picks the brain of Brad Bueermann, CEO and founder of FP Transitions, about the M&A market in the independent advisory space. Speaking in the wake of the blockbuster acquisition of Commonwealth Financial Network by LPL Financial, Bueermann provides insight into how the market might change given recent volatility and why best fit, not price, is critical.

In an era where philanthropy is evolving rapidly, donor-advised funds (DAFs) have emerged as a powerful tool for individuals looking to maximize their charitable giving. DAFgiving360™ observed a record-breaking $7.7 billion in grants issued in 2024 — a 25% increase from the previous year — it's clear that charitable clients are leveraging DAFs to create meaningful impact. But what does this shift mean for financial advisors, and how can they better serve their clients in the philanthropic space? In this episode of ‘The InvestmentNews Podcast', senior columnist Bruce Kelly sits down with Fred Kaynor, Managing Director at DAFgiving360, to uncover the latest trends in donor giving and how advisors played a crucial role in supporting charitable clients last year. From key insights into how and where donors are giving to the outlook for 2025, this conversation is packed with essential knowledge for advisors looking to integrate charitable giving into their wealth management strategies. By listening to this episode, you will: • Discover the latest DAFgiving360 data showing the significant rise in charitable contributions and grants. • Learn where donors are directing their support, from education and public benefit to disaster relief and human services. • Understand how donor-advised funds work, including tax benefits, investment opportunities, and long-term impact. • Gain insights on how financial advisors can help clients create structured giving plans, incorporate non-cash assets, and engage the next generation in philanthropy. • Get expert predictions on how economic and market conditions will shape charitable giving in the coming year. The landscape of philanthropy is changing, and financial advisors have a unique opportunity to guide their clients toward impactful, tax-efficient giving strategies. Don't miss this insightful discussion with industry experts — tune in now!

Bruce Kelly, senior columnist at InvestmentNews, and a man with deep experience covering M&A, sits down with InvestmentNews colleague James Burton to talk about the acquisition that rocked the wealth management world - the LPL-Commonwealth deal. The two talk about the CEOs' roles in the merger, the fundamental differences between the two firms, and what this means for Commonwealth advisors.

With a record-breaking $124 trillion in wealth projected to transfer over the next few decades, charitable giving is poised to play a pivotal role in financial planning. As donors increasingly seek tax-smart solutions to maximize their impact, strategies like donor-advised funds (DAFs) and gifting non-cash assets are transforming how philanthropy integrates with financial planning. For financial advisors, understanding these tools isn't just beneficial - it's essential for deepening client relationships and growing their practice. This podcast provides a comprehensive guide to incorporating charitable planning into your advisory offering. Featuring insights from Courtney Tsai at DAFgiving360™, you'll gain a practical understanding of how donor-advised funds and non-cash asset contributions can unlock significant tax benefits for your clients while amplifying their philanthropic impact. By listening to this episode, you will: • Learn the fundamentals of donor-advised funds and their tax- smart benefits. • Discover the advantages of incorporating charitable planning into your financial advisory services. • Understand the value and considerations of donating non-cash assets, such as real estate, private business interests, and cryptocurrency. • Explore resources and tools available for navigating DAFs and complex asset contributions. • Gain actionable tips to guide clients in maximizing their philanthropic impact Don't miss this opportunity to elevate your advisory practice and empower your clients to make meaningful, tax-efficient contributions to the causes they care about. Tune in now to unlock the potential of tax-smart giving with donor-advised funds and non-cash asset strategies!

Private market opportunities are in vogue as the public market becomes more reliant on a select group of names. This has meant alternatives can offer much sought-after alpha. Host Bruce Kelly, of InvestmentNews, digs deeper into this trend with Neil Menard, president of distribution at StepStone Private Wealth.

The year 2024 was certainly not dull as markets soared, rates finally fell, CEOs moved on and, oh yes, a new president was elected. Bruce Kelly, InvestmentNews senior columnist, is joined by managing editor Emile Hallez, renowned multimedia anchor Gregg Greenberg, and James Burton, Key Media's VP of Editorial, to discuss their respective highs and lows.

The US election was bitterly fought and one of the issues kicked around was the state of Social Security, the foundation of many people's retirement. Writer Mary Beth Franklin is a renowned expert in the field and she talks to Bruce Kelly, InvestmentNews senior columnist, about why this is stressing people out and what the future of Social Security might look like.

Bruce Kelly, senior columnist at InvestmentNews talks to Rich Hill, SVP and head of Real Estate Strategy & Research at Cohen & Steers to dive into the world of real estate investing. Why are REITs on a tear? Has the sector bottomed out? And why is the recovery uneven across property types?

Host Bruce Kelly settles in for a post-election chat with new InvestmentNews managing editor Emile Hallez. On the agenda this week is Social Security, M&A valuations, and President-Elect Donald Trump's cabinet picks.

Bruce Kelly, senior columnist at InvestmentNews, hosts another top pod in which he is joined by managing editor James Burton to chat about the biggest stories impacting the industry. In this episode, the pair address the state of play at Osaic, talk through its history and Bruce's latest story on the firm, and wonder out loud how the potential of job cuts might affect advisors.

It was definitely the story of the week, month, and probably year. Dan Arnold, regarded as an extremely successful data-driven CEO of LPL, was fired for comments that breached the firm's code of conduct. Bruce Kelly, InvestmentNews senior columnist, is joined by managing editor James Burton to discuss the ramifications, what it means for LPL, and why the story is likely far from over.

Bruce Kelly, from InvestmentNews, calls up Vance Barse, founder and wealth strategist at Your Dedicated Fiduciary, for an insightful chat about fee models and where Barse thinks the industry is heading. They also talk about Barse's career path and the executives that have had the biggest influence on him.

Ron Carson has long been regarded as one of the top financial advisors in the country but after stepping down as CEO, details have emerged about a new life path. From his new nickname “Omani”, to hosting festivals at his Omaha “healing center”, and talking about his use of psychedelics, it's a world away from RIAs and portfolios.

Bruce Kelly, of InvestmentNews, chats with Jodie Papike, CEO of advisor recruiting firm Cross-Search, about following in the footsteps of her father Larry and being a second-generation recruiter. They also discuss the difficult topic of what it was really like rising to a senior level in a male-dominated industry, and how advisors are navigating the flood of private equity cash.

Tash Elwyn, president and CEO of Raymond James & Associates, took time out from his busy day to chat to InvestmentNews' Bruce Kelly. The duo kick off the pod with a lighthearted chat about the origins of Tash's unusual name before diving into a number of topics, including his new role following a leadership reshuffle, the success of the company's annual employee event, and where Tash believes the industry is heading.

Private credit has surged in popularity as an attractive investment alternative, especially in today's fluctuating financial landscape. As traditional banking systems face increasing scrutiny and regulatory constraints, private credit offers a promising avenue with potentially higher yields and reduced risk profiles. Understanding this investment option is crucial for anyone looking to diversify their portfolio and capitalize on the current economic environment. With interest rates climbing and traditional equity markets showing signs of volatility, private credit stands out as a compelling choice for savvy investors. In this episode, Shiloh Bates, Chief Investment Officer at Flat Rock Global, delves deep into the intricacies of private credit. Whether you're an experienced investor or just starting to explore new financial opportunities, this podcast will equip you with essential insights and practical knowledge. Shiloh brings over two decades of investment experience, providing a unique perspective on the current trends and future prospects of private credit. Listen to this podcast to: • Learn what these terms mean and why they matter in the context of private credit. • Discover why private credit is currently a favored investment, including its potential for high yields and security. • Get insights into how Federal Reserve rate hikes impact private credit investments and why this creates opportunities. • Understand the risks associated with private credit and how investments are structured to mitigate these risks. • Gain foresight into the potential growth and sustainability of private credit as an investment class. Dive into the world of private credit and discover how it can revolutionize your investment portfolio. Listen now and take the first step towards smarter investing!

With the launch of a number of new Ethereum ETFs and a surge in the price in Bitcoin, crypto is having a moment. Bruce Kelly, of InvestmentNews, sits down with Roxanna Islam, of TMX/VettaFi, to talk about the latest developments, the impact of the regulators and where this is all heading.

Investors and financial advisors are redeeming nontraded REITs, spooked by spooked by high interest rates and empty spaces in office buildings. Will the nontraded REIT industry bounce back in the next 12 months?

InvestmentNews' Bruce Kelly sits down with trial lawyer Tom Ajamie to discuss deferred compensation cases and how a major strategic rethink led him and his team to ERISA, which could significantly change wirehouse compensation packages.

In today's financial landscape, staying ahead isn't just an advantage, it's essential. As demand for financial advice grows and advisors face the challenge of aging populations — along with many of their own retirement plans — understanding industry trends becomes paramount. Join InvestmentNews senior columnist, Bruce Kelly, as he chats with Jeremy Holly, Executive Vice President at LPL Financial, as they discuss the complexities of the M&A space, focusing on advisors' evolving liquidity needs and strategies for creating transferable value. Tune in to hear all about: • Challenges posed by aging client base and the emerging trends in advisor's retirement planning • Specific factors driving value in today's market • How to navigate the war for talent and cultivate the next generation of advisors • The secrets to creating transferable value • The latest trends shaping advisor priorities Don't miss the opportunity to revolutionize your approach to your business. Your journey to advisor excellence starts here — join us and unlock the secrets to success. LPL Financial. Member FINRA/SIPC.

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.

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.

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

InvestmentNews technology editor Ryan Neal joins Bruce to talk about Future Proof and Schwab's integration of TD's RIAs.

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 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.

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.

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.

We look at how the Twitter dustup between two advisers over politics should send a message to the financial services community that it doesn't pay to let your political colors show on social media. Also, Covid has had a negative impact on broker recruiting. Then we get into the trend toward reducing bond allocations from otherwise balanced portfolios. And Bruce Kelly dishes up another example of a bad broker. Finally, in the Open Notebook segment, we delve into whether New York can continue to be the center of the universe, as far as New Yorkers are concerned.

From Washington, D.C., special guest Mark Schoeff joins hosts Jeff Benjamin and Bruce Kelly to look at the fallout for the wealth management industry in the wake of both the Democratic and Republican national conventions. Jeff raises the question of accredited investors, Bruce has an update on the ongoing GPB scandal and Mark takes issue with PR folks hampering interviews at times.

Mary Beth Franklin is one of the country's leading experts on Social Security and Medicare. An award-winning journalist and Certified Financial Planner, Mary Beth writes a weekly column on retirement issues for Investment News and is author of the ebook, Maximizing Your Social Security Retirement Benefits.

This week we looking into the NFL Players Association rules for hiring financial advisers, along with the poor performance of active management. Hosts Jeff and Bruce also look at job cuts at Raymond James, a guest appearance by IN reporter Emile Hallez to discuss his latest cover story, and we grade Morningstar's virtual conference.