Insight is Capital™ Podcast

Featuring Heather & Douglas Boneparth, authors of Money Together What really happens when love, money, ambition—and sometimes resentment—share the same address? In this deeply honest and refreshingly candid episode of Insight Is Capital, host Pierre Daillie sits down with Heather and Douglas Boneparth, the powerhouse couple behind Bone Fide Wealth and co-authors of the bestselling book Money Together. Heather’s journey from corporate attorney to financial storyteller and Doug’s rise as one of today’s most recognizable financial planners form the backdrop for a conversation that goes far beyond spreadsheets. They open up about the real dynamics inside modern relationships: shifting power, unseen labor, income imbalances, ambition, fairness, and the emotional landmines that determine whether couples thrive—or quietly fracture. Key TakeawaysHeather and Doug reveal how unspoken expectations, shifting power dynamics, and invisible workloads slowly erode trust when couples aren’t talking honestly about what’s changing in their lives.True fairness means “making room” for each other—emotionally, professionally, and financially—as needs, seasons, and capacities evolve.Quarterly money dates, honesty about risk tolerance, and a willingness to stretch outside comfort zones create the compounding effect that strengthens relationships over decades.This episode is a must-watch for couples, advisors, and anyone seeking a healthier, more intentional relationship with money—and with each other. 👉 Order the book:https://domoneytogether.com 👉 Subscribe to their newsletter, The Joint Account:https://readthejointaccount.com⏱️ CHAPTERS 00:00 – Welcome 00:56 – Meet Heather & Doug 02:20 – From law to financial storytelling 03:09 – Doug on building Bone Fide Wealth 04:29 – Balancing work, family & online presence 05:48 – Chaos, organization & compromise 07:00 – Discomfort as a sign of growth 08:21 – Risk tolerance inside a marriage 09:12 – The pandemic inflection point 11:48 – Identity, resentment & invisible labor 12:43 – The ultimatum that changed everything 14:30 – How the book Money Together was born 16:26 – What couples aren’t saying about money 18:16 – Vulnerability & honesty in relationships 21:52 – Why clients don’t reveal everything at first 23:09 – How advisors can foster honest conversations 25:45 – Slow, gentle financial dialogue 29:18 – Fairness vs. equality 33:49 – Workloads, seasons & avoiding scorekeeping 36:51 – How resentment communicates without words 38:25 – Collective ambition & shared power 39:55 – Trust, money dates & compounding 44:24 – What couples should remember—20 years later 46:37 – Where to find the book & newsletter 47:10 – Closing reflections ⭐ KEY THEMESMoney & relationshipsPower dynamics inside couplesCommunication breakdownsShared ambition & fairnessEmotional dimensions of financial planningWhy advisors must go beyond numbersBuilding a resilient financial partnershipTrust, teamwork & long-term growth📣 FOLLOW & SUBSCRIBE If you enjoyed this conversation, hit LIKE, SUBSCRIBE, and turn on notifications for more deep, human, and practical conversations with leaders in wealth, finance, psychology, and behavioral insights. #MoneyTogether #DougBoneparth #HeatherBoneparth #FinancialCouples #RelationshipFinance #MoneyAndMarriage #JointFinances #MillennialMoney #FinancialWellness #PersonalFinanceTips

In this illuminating episode of Insight is Capital, host Pierre Daillie sits down with Brent Smith, CIO of Kinsted Wealth, for a deep dive into how private investors can now build truly institutional-style portfolios. Smith—who spent decades leading Franklin Templeton’s Multi-Asset Strategies group before co-founding Kinsted—shares a masterclass on the evolution from the 60/40 portfolio to a comprehensively diversified portfolio structure that mirrors the strategies of pension funds and endowments.This is a conversation about rethinking diversification, embracing patient capital, and building the kind of portfolio resilience engendered by institutional and private wealth management. Smith unpacks how Kinsted’s approach to portfolio design, liquidity, and alpha generation is quietly transforming how advisors and their clients think about wealth, access, and opportunity.💡 3 Key TakeawaysFrom 60/40 to Institutional Thinking “If you really want a true institutional-style diversified portfolio, you have to embrace the private markets.” Smith explains how Kinsted rebuilt its platform around public, private, and alternative assets to reflect how pensions like CPP and endowments like Yale invest.The Power of Patient Capital Smith calls it “the patience dividend.” Investing in drawdown funds like Brookfield’s Global Transition Fund requires long-term commitment—but it’s how institutions extract real value. “You require a lot of patience when you’re investing in private assets,” he says. “Ultimately, it’s going to come.”Portable Alpha for Private Wealth Through a bespoke partnership with Morgan Stanley, Kinsted built a multi-strategy hedge fund platform inside its global equity pool—targeting MSCI World +4–6% returns with near-zero beta. “Everyone’s doing this in the institutional space,” Smith notes, “just not in the high-net-worth space.”📍 Timestamped Chapters00:00 – Introduction: From democratization to institutionalization of investing 02:30 – Brent Smith’s career journey: From Franklin Templeton to Kinsted Wealth 05:00 – The behavior gap in diversification and the problem with FOMO 08:00 – Re-engineering 60/40: The 50/30/20 evolution 11:00 – Why private markets are the next frontier 15:00 – How Kinsted built access to institutional-grade assets 20:00 – The patience of private investing: Brookfield and beyond 25:00 – Private market myths and education gaps 33:00 – Data centers, energy transition, and thematic private investing 40:00 – The liquidity illusion: Long-term capital vs short-term fear 47:00 – The relationship premium: Access through trust and time 55:00 – Portable alpha and structural alpha explained 1:07:00 – Partnering with advisors: Building the next-gen private platform 1:11:00 – The future of advice: Proactive vs reactive 1:13:00 – Inflation, valuations, and the end of the Fed Put 1:17:00 – Closing thoughts: Patient capital and the pension mindset #InsightIsCapital#BrentSmith#KinstedWealth#PrivateMarkets#InstitutionalInvesting#PortfolioDiversification#Alternatives#PortableAlpha#PatientCapital#InvestmentStrategy#WealthManagement#AdvisorEducation#PensionStyleInvesting#PierreDaillie#FinancialAdvisors#GlobalMarkets#EndowmentModel#PrivateEquity#PrivateCredit#HNWInvesting

In this episode of Insight is Capital, host Pierre Daillie welcomes Deborah Fuhr, one of the world’s foremost authorities on ETFs and the Founder and Managing Partner of ETFGI. Together, they explore the explosive growth of the global ETF industry—now surpassing $18.8 trillion in assets—and what this means for advisors, investors, and the evolving landscape of financial innovation.Deborah shares her unique perspective ahead of the 7th Annual ETFGI Global ETF Insights Summit in Toronto, offering deep insight into the democratization of investing, the rise of active and structured ETFs, the role of women and wealth transfer, and the next wave of transformation—from tokenization to digital assets.🗝️ 3 Key Takeaways• ETFs as the Great Equalizer: ETFs have become the most democratic investment vehicle ever created—used by sovereign funds, hedge funds, institutions, advisors, and retail investors alike—all accessing identical exposures and costs.• The New Growth Drivers: The next leg of ETF expansion will be fueled by retail investors, women, and retirees. As trillions in wealth transfer to women, education and accessibility will define the future of advisory relationships.• Innovation and the Future of Wrappers: The ETF universe is expanding into active, structured, and tokenized forms. Expect continued growth from mutual fund conversions, crypto integration, and AI-driven portfolio design—with global ETF assets potentially reaching $52 trillion by 2030. ⏱️ Chapters00:00 – Introduction: Meet Deborah Fuhr and the ETFGI story.01:40 – Global ETF Landscape: $18.8T milestone and what it means.03:00 – Democratization of Investing: From sovereign funds to retail.06:00 – The Canadian ETF Advantage: Why local listings matter.08:30 – Women, Wealth Transfer & Retirement: The coming tidal shift.11:30 – The ETFGI Summit Preview: Key themes and regulatory updates.14:30 – The Rise of Active & Systematic ETFs: Myths and opportunities.18:00 – Women in ETFs: How mentorship and diversity drive performance.21:00 – Record ETF Inflows & Market Dynamics: What’s fueling the boom.25:00 – The Next Frontier: Tokenization, AI, and global ETF expansion.33:00 – Rethinking Diversification: How ETFs reshape portfolio design.36:00 – How to Attend the Toronto Summit: Free registration & CE credits.Join us for this insightful conversation ahead of the ETFGI Global ETF Insights Summit Toronto 2025—where advisors, regulators, and innovators will redefine what’s next in the ETF ecosystem. Don’t miss your chance to learn, network, and earn CE credits.Register now to attend our 7th annual ETFGI Global ETFs Insights summit – Canada</strong> on December 9th at Borden Ladner Gervais LLP (BLG)’s office!#ETFGI #DeborahFuhr #ETFInsights #ETFSummitToronto #GlobalETFGrowth #AdvisorAnalyst #InsightIsCapital #ETFs #ActiveETFs #Tokenization #WomenInFinance #WealthTransfer #FinancialAdvisors #ETFInnovation #PortfolioConstruction

In this episode of Insight is Capital, Mark Jarosz, Head of Credit Alternatives at BMO Global Asset Management, joins us to demystify the world of Collateralized Loan Obligations (CLOs) — a sophisticated yet increasingly accessible asset class, now reshaping how investors think about income, risk, and portfolio diversification.Jarosz explains how CLOs are structured, how they differ from the infamous CDOs of 2008, and why they’ve quietly become a go-to for institutional investors seeking floating-rate income with resilience across market cycles. With the launch of BMO’s CLO ETFs (tickers: ZAAA and ZBBZ), everyday investors now have access to institutional-quality fixed income exposure for the first time in Canada.From the mechanics of tranche hierarchies and over-collateralization to the yield opportunities in BBB-rated tranches, we cut through the jargon to reveal why CLOs are becoming an essential building block for diversified income portfolios.3 Key TakeawaysCLOs Are Not CDOs: Jarosz clarifies that CLOs are built on pools of investment grade corporate loans, and are actively managed, transparent, and rigorously rated — with zero defaults at the AAA level over 30 years of history.Floating-Rate Advantage: In a “higher-for-longer” rate environment, CLOs’ floating-rate structure protects investors from duration risk while providing yield enhancement and resilience during both rising and falling rate cycles.Democratization of Access: Through BMO’s ZAAA (AAA CLO ETF) and ZBBZ (BBB CLO ETF), Canadian investors can now access institutional-grade credit in a liquid, transparent ETF format — a first in the Canadian market.Timestamps & Chapters[00:00] Introduction to Fixed Income Challenges[01:01] Guest Introduction: Mark Jarosz[02:30] Mark Jarosz's Career Journey[04:19] The Impact of the Financial Crisis on Career Development[05:21] Defining CLOs: Structure and Function[07:32] The Role of Rating Agencies in CLOs[08:43] CLOs vs. CDOs: Key Differences[10:54] Current Market Conditions for CLOs[11:55] Evaluating CLO Managers[13:22] Yield Opportunities in CLO Investments[16:02] Over-Collateralization Explained[17:50] Exploring BBB Rated CLOs[19:56] The Role of AAA CLOs in Investment Strategies[22:50] Institutional Investor Behavior in Volatile Markets[24:52] Benefits of CLOs in Portfolio Diversification[26:32] Floating Rate Structure of CLOs[30:44] Understanding Risks Associated with CLOs[35:12] Introduction of CLO ETFs for Retail Investors[38:25] Investor Preferences for Investment Grade Products[39:58] Monthly Distribution and Yield Pickup[41:05] Utilizing ETFs for Access to Asset Managers[42:01] ConclusionCopyright © AdvisorAnalyst#CLOInvesting #FixedIncome #AlternativeInvestments #BMOGAM #CreditMarkets #YieldStrategy #FloatingRate #StructuredCredit #InvestmentGrade #ZAAA #ZBBZ #AdvisorEducation #PortfolioDiversification #IncomeInvesting #InsightIsCapital #PierreDaillie #MarkJarosz #CanadianInvestors #CLOETF #WealthManagement

What if the biggest obstacle between you and financial freedom isn’t your income — but your mindset?In this powerful and eye-opening episode of Insight is Capital, host Pierre Daillie sits down with Dr. Brad Klontz, financial psychologist, bestselling author, and professor, to explore the hidden forces shaping our relationship with money. From childhood money scripts to the myths we inherit about wealth, Klontz reveals how emotional conditioning, fear, and tribal thinking keep so many of us stuck — and how to break free.Drawing from his latest book, Start Thinking Rich: 21 Harsh Truths to Take You from Broke to Financial Freedom, Dr. Klontz delivers a no-nonsense roadmap for replacing self-sabotage with empowerment. He explains why being broke is temporary, but being poor is a mindset — and why cultivating an internal locus of control can change everything.Through deeply personal stories, sharp insights, and behavioral research, Klontz challenges conventional beliefs about capitalism, wealth, and happiness. He unpacks why people self-sabotage after windfalls (like lottery winners), how tribal instincts influence spending (“Sprinter Van Syndrome”), and why automation is the most powerful tool for lasting wealth.💡 What You’ll Learn:• How your money mindset determines your financial destiny.• Why tough love is more transformative than positive affirmations.• The three most common paths to becoming a millionaire — and why most of them don’t require luck.• How visualization and automation can hack your psychology and make saving effortless.• Why surrounding yourself with the right people is the most underrated wealth strategy of all.⏱️ Chapters:00:00.16 Introduction to Financial Mindset01:17.35 Defining Moments in Money Mindset04:49.73 The Psychology of Wealth07:01.41 Broke vs. Poor: Understanding Mindsets09:44.13 The Impact of Social Circles on Wealth13:36.98 Navigating Systemic Barriers to Success18:18.73 The Impact of Money Scripts20:07.73 Understanding Family Financial History23:39.79 The Role of Tough Love in Financial Growth29:12.63 Paths to Wealth: Employee vs. Entrepreneur33:40.69 Understanding Financial Success35:05.62 The Psychology of Spending36:28.99 Wealth vs. Income Skills37:34.37 The Influence of Social Comparison42:30.72 The Role of Relationships in Financial Decisions44:04.14 Transforming Money into Freedom46:30.83 Visualizing Financial Goals47:56.49 The Power of Automation in Saving49:46.40 The Psychology of Automatic Saving51:18.82 Closing Thoughts and Acknowledgments🎯 Key Quote: “If they can do it, I can do it. That mindset changes everything.” — Dr. Brad Klontz📚 About the Guest: Dr. Brad Klontz is a financial psychologist, Certified Financial Planner®, and author of multiple bestselling books on the psychology of money. His work has been featured in The Wall Street Journal, The New York Times, and Forbes. His mission: to help people understand their deep-seated money beliefs and build sustainable wealth through mindset transformation.🔥 Don’t Miss This Episode If You Want To:• Understand the emotional side of money and wealth• Break through limiting beliefs and generational money trauma• Learn practical, science-backed habits to grow wealth over time #BradKlontz #MoneyMindset #FinancialPsychology #StartThinkingRich #WealthBuilding #BehavioralFinance #FinancialFreedom #AdvisorAnalyst #InsightIsCapital #MindsetMatters #MoneyScripts #InvestInYourself #PersonalFinance #FinancialWisdom</p>

In a world where ego often overshadows insight, First Avenue’s Kash Pashootan and Michael Newton reveal why humility, curiosity, and true team depth are redefining the future of wealth management. In this Insight is Capital episode, host Pierre Daillie sits down with Kash Pashootan, CEO, and Michael Newton, Head of Wealth Management at First Avenue Investment Counsel, for a powerful, introspective discussion about the evolution of wealth management, the essence of humility in leadership, and the future of multi-generational wealth stewardship. Kash and Michael share their personal philosophies and the firm’s mission to bring pension-style investing and true family office depth to Canadian families. They emphasize the importance of curiosity, humility, and hands-on investing, while contrasting the depth of their integrated model with the “by-appointment” approach common in traditional advisory structures. Together, they explore how advisors can evolve from solo operators to multi-disciplinary teams that can truly serve the complex needs of high- and ultra-high-net-worth families. Pierre draws out reflections on how ego, conviction, and the hunger for relevance must evolve toward humility, curiosity, and collaboration. The result is a deeply human, highly practical conversation that challenges advisors and investors alike to rethink what stewardship means in today’s markets. ⏱️ Timestamps & Chapters03:00 – Passion for the Wealth Business Kash and Michael share how curiosity and lifelong learning keep them inspired in an ever-changing industry.08:00 – A Day in the Life Michael reveals his structured approach to time management and delegation, while Kash discusses balancing hands-on investing with family office oversight.13:00 – Evolution and Humility in Wealth Management The duo reflects on transitioning from individual expertise to team leadership—embracing humility, curiosity, and diverse perspectives as cornerstones of progress.24:00 – The Pension-Style Approach Explained Kash details how First Avenue’s investment philosophy mirrors Canada’s leading pension funds, with intelligent exposure beyond stocks and bonds—into private equity, real estate, and strategic income.32:00 – Building True Family Office Infrastructure Michael contrasts “by-appointment” advisory models with First Avenue’s integrated, permanent team of experts, emphasizing genuine collaboration across tax, legal, and estate disciplines.43:00 – Planning for Generational Wealth Kash explains why high-net-worth clients value multifaceted planning and proactive, structured processes that anticipate family complexities before they arise.49:00 – Advisor Evolution and Scaling Pierre and Kash discuss how advisors must adapt, deepen their infrastructure, and build true teams to attract larger clients and deliver holistic value.50:00 – Client Concerns in Today’s Market Michael and Kash share insights on clients’ current worries—geopolitics, concentration risk, and interest rates—and how preparation creates calm amid uncertainty.55:00 – The Future of Investing and Advisor Mindset They stress separating emotion from investing, focusing on deep understanding of assets, and maintaining disciplined diversification to reduce volatility.1:02:00 – Final Thoughts A reflection on humility, discipline, and teamwork as the defining traits of modern wealth stewardship.💡 Key TakeawaysHumility Drives Progress: True leadership in wealth management means trading ego for humility—creating space for curiosity, learning, and collaboration. “Curiosity combined with humility is really the ingredient for continued progress,” says Kash.The Pension-Style Approach Works: First Avenue’s model of blending public equities, private equity, real estate, and strategic income mirrors Canada’s top pension funds, aiming to deliver consistent returns with lower volatility.The Future Belongs to Integrated Teams: As Michael explains, “Advisors need to ask—who stands behind you?” A cohesive, multidisciplinary team—not a “by-appointment” model—is what truly differentiates a firm serving multi-generational families.Copyright © AdvisorAnalyst#WealthManagement #FamilyOffice #InvestmentPodcast #AlternativeInvesting #PensionStyleInvesting #FinancialAdvisors #PrivateWealth #CanadianInvesting #PortfolioManagement #CuriosityAndHumility #AdvisorInsights #FirstAvenueInvestmentCounsel #InsightIsCapital #PierreDaillie #KashPashootan #MichaelNewton

In this powerful episode of Insight is Capital, host Pierre Daillie sits down with Shana Sissel, CEO and Founder of Banríon Capital Management, widely known as the “Queen of Alternatives.” From breaking barriers in the world of alternative investments to surviving and thriving through profound personal adversity, Shana’s story is one of resilience, purpose, and innovation. She reveals how Banríon was built by advisors, for advisors — an open-architecture platform designed to help wealth managers make sense of alternatives and scale their use effectively. Shana and Pierre dig deep into what makes advisors successful, why emotional intelligence (EQ) matters more than ever, and how Banríon is redefining the bridge between asset managers and advisors. The conversation takes a personal and moving turn as Shana recounts launching her firm while battling stage-four cancer and the unexpected loss of her fiancé. Her perspective on perseverance, purpose, and leadership transforms this episode into an unforgettable masterclass in both business and humanity. 3 Key TakeawaysRedefining “Alternative” Investing: Alternatives aren’t a niche — they’re a mindset. Shana explains how advisors can unlock new opportunities by thinking beyond the 60/40 portfolio and embracing a structure-agnostic, relationship-driven approach to investment solutions. Resilience and Purpose in Leadership: From personal loss to life-threatening illness, Shana’s story exemplifies how grit, purpose, and optimism can fuel innovation and success. Her journey underscores that true leadership is built in the face of adversity. The Advisor’s EQ Advantage: Success in wealth management isn’t about IQ — it’s about empathy. Advisors who master emotional intelligence and authentic relationship-building are the ones who stand apart in an increasingly automated industry.Timestamped Chapters00:00 Pierre’s intro: Meet Shana Sissel — The Queen of Alternatives02:00 How Shana accidentally discovered finance (from sports to Morgan Stanley)06:00 Why EQ matters more than IQ in financial advising09:30 What makes Banríon Capital’s platform different — built by advisors, for advisors13:00 The truth about product design, relationships, and client trust17:00 Why most alt platforms miss the mark — and how Banríon bridges the gap21:00 Helping smaller managers and advisors connect efficiently33:00 Shortening the sales cycle: How Banríon streamlines due diligence36:00 The origin story — how Banríon evolved from concept to platform44:00 Facing tragedy: Shana’s journey through grief and cancer diagnosis49:00 How resilience and attitude became her greatest business assets56:00 The new investing era — why alternatives are essential today1:06:00 Building resilient portfolios: Private credit, sports, and managed futures1:13:00 The rise of return stacking and the future of portfolio construction1:18:00 Closing reflections — living with purpose and building legacyWhere to find Banrion Capital ManagementBanrion Capital Management - https://www.banrioncapital.com/Shana Sissel on Linkedin - https://www.linkedin.com/in/shsissel/

What if the U.S. economy is already sprinting off a cliff—and just hasn’t looked down yet? In this riveting conversation, BCA Research’s Peter Berezin joins Pierre Daillie to unpack whether markets are living through their Wile E. Coyote moment: running on optimism while gravity—the reality of stagflation, slowing growth, and political interference—waits below. 🎙️ Episode Summary In this episode of Insight Is Capital, BCA Research’s Chief Global Strategist Peter Berezin offers a sobering yet strategic take on today’s markets. From stagflation and tariffs to AI hype and fiscal fragility, Berezin breaks down why the next 12–18 months could reshape everything investors think they know about “soft landings.” He discusses: Why stagflation risk is rising as inflation edges higher and employment weakens.How political meddling and trillion-dollar deficits could push the Fed into impossible choices.Why the housing market, not GDP, is the clearest gauge of monetary pain.Where investors can still find safety—in gold, yen, defense, and healthcare—and why “waiting to see the whites of the recession’s eyes” might be the smartest move right now.Plus: the AI paradox—huge promise, uncertain profits, and eerie echoes of the 2000 tech crash.⏱️ Timestamped Chapters 00:00 – Introduction: Meet Peter Berezin, Chief Global Strategist at BCA Research 01:40 – Recession or stagflation? Reading the early signals 04:00 – The Fed’s bind: inflation vs. employment 06:00 – Housing market pain and weak consumption growth 08:30 – Rate cuts, long yields, and the risk of a policy trap 11:00 – Stagflation now, inflation later: Berezin’s 2-phase macro outlook 13:00 – Tariffs, reshoring, and corporate paralysis amid policy fog 16:00 – Trade disruption and the tariff mess 17:30 – Markets mispricing rate cuts: déjà vu from 2001 & 2008 19:00 – Global allocation: dollar weakness, gold strength, and fiscal cliffs 22:00 – Defensive positioning: “wait for the whites of the recession’s eyes” 25:00 – Currency debasement and why inflation is a political problem 28:00 – Strategic diversifiers: defense, healthcare, and copper 31:00 – Fixed-income strategy: “cash is king,” for now 36:00 – AI and productivity: hype, lag, and parallels to the dot-com era 44:00 – Free cash flow as the real warning sign for tech investors 47:00 – Final thoughts: the Wile E. Coyote moment for markets #InsightIsCapital #BCAResearch #PeterBerezin #MarketOutlook #Stagflation #Recession #FedPolicy #MacroStrategy #Gold #AI #InvestmentInsights #GlobalMarkets #PierreDaillie #WealthManagement #Economy2025

Private markets aren’t just the playground of institutions and the ultra-wealthy anymore. In this episode, we dig into how access to private credit, equity, and real assets is opening up—and why that shift is changing the way Canadian advisors build portfolios.Raphaëlle Gauthier-Grenier, Senior Director, Investment Solutions – Private Investments at National Bank Investments, and Ross Neilson, Principal at Apollo Global Management, join us for a candid look at the surge of private investing in Canada. Together, we unpack what’s driving the momentum, how new fund structures are breaking down barriers, and where private markets really belong in a modern portfolio. From the rise of evergreen fund structures to the behavioral edge of illiquidity, we unpack: Why private markets are gaining momentum with advisors and investors. How fund design and distribution partnerships are breaking down barriers. The role of private credit, equity, and real assets in building resilient, diversified portfolios. Canadian-specific trends in advisor adoption and product scrutiny.If you’re an advisor or investor wondering how to balance opportunity with liquidity in a modern portfolio, this episode delivers the insights you need.⏱️ Timestamps & Chapters00:00 – Introduction & guest bios03:00 – The surge in private markets: why now?06:30 – Post-GFC shifts and new demand for capital08:00 – Entrepreneurs and natural fit with private investing10:00 – Democratization of private markets explained13:00 – Technology, fund platforms, and scalable access14:00 – Evergreen vs. closed-end funds: structural innovations18:00 – Liquidity sleeves and investor expectations22:00 – The rise of the secondary market & manager dispersion25:00 – Portfolio construction: private credit, equity & real assets28:00 – The case for minimum allocations & proportional exposure30:00 – Inflation protection, diversification & role clarity33:00 – 90% of $100M+ revenue companies are private—what that means36:00 – Illiquidity premium, behavioral advantages & patience capital37:30 – Canadian market nuances: real estate, private credit, and compliance42:00 – Why private credit is Canada’s first step into alternatives46:00 – National Bank Investments’ open architecture & Apollo partnership49:00 – Closing thoughts & opportunities ahead#PrivateMarkets #AlternativeInvestments #WealthManagement #PrivateCredit #PrivateEquity #EvergreenFunds #InvestmentAdvisors #PortfolioConstruction #FinancialAdvisors #NationalBankInvestments #ApolloGlobalManagement #InsightIsCapital

“Things are priced for perfection—but the world isn’t perfect.” — Ilan KoletWhat does it take to navigate a world where the U.S. is no longer the default safe haven? In this powerful episode, Pierre Daillie is joined by Ilan Kolet, Institutional Portfolio Manager on Fidelity Investments Canada’s Global Asset Allocation Team, to break down Fidelity’s latest asset allocation moves—and the four-pillar process guiding them.From trimming U.S. equities to boosting exposure to Europe and gold, to reassessing the Canadian market after a decade-long underweight, Kolet reveals how Fidelity is tactically rebalancing amid macro volatility, political headwinds, and shifting global capital flows.📉 We unpack weakening U.S. labor data, 🇨🇦 Canada’s slow productivity renaissance, the potential loss of USD tailwind status, and why gold has emerged as a strategic diversifier in a fractured geopolitical landscape.Whether you're an advisor, institutional allocator, or just looking to sharpen your portfolio perspective, this conversation is packed with insights you won’t want to miss.⏱️ CHAPTERS00:00 – Welcome + The big shift: From U.S. exceptionalism to global pragmatism02:30 – One year later: What’s changed in Fidelity’s outlook05:45 – AI tailwinds vs. valuation headwinds08:25 – What “neutral” really means for U.S. and Canadian equities10:10 – Canada’s lost decade… and signs of turnaround14:10 – The slow return of Canadian capital investment17:00 – Productivity as the key to prosperity19:40 – Asset allocation as audio mastering: “The equalizer analogy”22:00 – Gold, Europe, and the art of being selectively offensive25:45 – The weakening U.S. labor market and the Fed’s dilemma29:00 – Canada’s rising unemployment: Recession or reset?32:00 – Political interference and the erosion of central bank independence36:00 – The U.S. Dollar: Still a hedge, or just a habit?40:00 – Why Fidelity slashed its CAD underweight and closed its USD long44:00 – Europe’s defense renaissance and the rise of Rheinmetall46:30 – Gold as a geopolitical hedge: Inflation, war, and volatility48:00 – The power of active management: +40% outperformance over passive50:30 – Wrapping up: From big dials to basis points📌 KEY INSIGHTS 📉 Underweight U.S.: Valuations are too high, concentration is risky, and macro instability is rising. 🇨🇦 Neutral Canada: After 10+ years underweight, Canadian equities are finally earning back their spot. 🌍 Overweight Europe: A geopolitical awakening in defense spending may unlock long-suppressed value. 🪙 Gold Allocation: A 2.5% out-of-benchmark position to hedge inflation volatility and geopolitical tail risk. 💱 Currency Realignment: From a 20% CAD underweight to just -3%, now diversified beyond USD.🔗 CONNECT WITH US🌐 Visit us at: https://www.advisoranalyst.com🎙️ Listen on Apple Podcasts, Spotify & everywhere podcasts are available📩 Subscribe to our newsletter for more advisor-focused insights#FidelityInvestments #GlobalAssetAllocation #IlanKolet #PierreDaillie #InvestmentStrategy #AssetAllocation #CanadianEquities #USEquities #GoldInvesting #MacroOutlook2025 #PortfolioConstruction #Inflation #InterestRates #USDollar #FinancialAdvisors #ActiveManagement #AdvisorAnalyst #InsightIsCapital

Canada invented ETFs — but how did they grow into a trillion-dollar force, and where are they headed next? Pierre Daillie sits down with BMO ETF leaders Alain Desbiens and Tammy Cash to reveal the untold stories, the lessons learned, and what the future holds for advisors and investors.Episode SummaryIn this in-depth conversation, Pierre Daillie is joined by Alain Desbiens, Vice Chair at BMO ETFs, and Tammy Cash, Director of Distribution Strategy at BMO ETFs and Global Co-President of Women in ETFs. Together, they trace the remarkable journey of exchange-traded funds in Canada—from their early days as a disruptive upstart, to their current role as an essential building block in portfolio construction.Alain shares candid reflections on being one of BMO’s first ETF wholesalers and the skepticism he faced when ETFs were dismissed as a “trend.” Tammy recalls her path into the industry, her passion for democratization of investing, and her leadership in Women in ETFs, a global movement empowering women across financial services.The discussion covers the resilience it took to build the industry, the role of education and advisor partnerships, and how tools and technology are reshaping the advisor-client experience. Both leaders also look ahead to 2030, envisioning an ETF marketplace that is larger, more competitive, and increasingly shaped by innovation in active strategies, alternatives, and digital distribution.This is more than a story about the ETF industry — it’s about people, purpose, and the power of advice.🔑 Key Takeaways• ETFs as Disruption Turned Foundation – Alain reflects: “At the beginning I saw that the ETF could be disruptive and it could create waves and I loved it. I knew we were into something.”• Advisor Education Remains Central – Tammy emphasizes: “It really is about that education and the intersection of education and partnership today… making sure that we provide clarity, congruency and real education to advisors and investors.”• Competitive Landscape & DIY Risks – Alain warns: “There’s a lot of people [DIY investors] that buy products and they don’t really understand what they’re buying. That’s probably the worst money you’re buying.”• Women in ETFs & the Future of Advice – Tammy highlights the opportunity: “Today, sadly, we still sit at 17% representation of women as financial advisors in Canada… and the opportunity that that presents is significant.”📌 Timestamped Chapters00:00 - Introduction to Insight is Capital01:32 - Exploring Early Days in the ETF Industry03:03 - Building an Industry: Lessons from the Early Days05:37 - The Evolution of ETFs and Market Dynamics09:43 - Adapting to Change: Insights on Resilience16:39 - Women in ETFs: Empowering Female Leaders21:52 - Celebrating Women's Careers in Finance23:06 - Legacy and Product Impact on Investing24:32 - Challenges in the Advisory Business27:13 - The Evolution of Client Experience in Finance28:56 - The Return of Key Industry Figures30:47 - Investor Education and Transparency31:59 - Opportunities in ETF Specialization34:37 - The Challenge of Meeting Investor Expectations37:19 - The State of Canadian Investable Assets38:23 - Diversification Strategies for Advisors39:43 - Innovations in ETF Solutions41:08 - Navigating Complexity and Competition in ETFs42:30 - The Demand for Financial Advice43:58 - Personal Reflections on Industry Impact45:31 - The Human Element in Finance47:07 - Legacy and Leadership in Finance#BMOETFs #ETFInvesting #CanadianETFs #WomenInETFs #AdvisorEducation #InvestingInsights #PortfolioConstruction #WealthManagement #FinancialAdvisors #FutureOfInvesting

What if everything you thought you knew about the Fed, fiscal policy, and recession playbooks is already obsolete? In this episode, Darius Dale reveals why the U.S. economy has entered “Paradigm C” — a regime of fiscal dominance, deregulation, and coordinated support — and what it means for portfolios, the Fed, and your financial future.📖 Episode SummaryIn this powerhouse conversation, hosts Pierre Daillie, Mike Philbrick, and Adam Butler welcome back Darius Dale, Founder of 42 Macro LLC, to dissect the seismic shifts reshaping markets in 2025.Dale explains why April’s bond market shock was the most important event since Lehman, forcing the U.S. into Paradigm C: a policy mix of fiscal dominance, deregulation, and an implicit partnership between the Treasury and the Fed. He argues that recession is no longer bullish for Treasuries, that the Fed’s outdated 2% inflation target is crushing those at the bottom of the “K-shaped” economy, and that retail investors have a once-in-a-generation edge over institutions if they stop chasing factor bets.From the decline of U.S. exceptionalism risk to the emergence of financial repression, Dale outlines why the simple KISS portfolio — may be the smartest way to retire on time and comfortably.This is a must-listen for advisors, investors, and anyone trying to navigate the most uncertain macro environment in decades.🔑 4 Key Takeaways1. Paradigm C Defined – The U.S. has shifted to a regime of fiscal dominance and deregulation, aiming to “outgrow” its debt problem rather than cut or print immediately.2. The End of Old Playbooks – Recession is now bearish for Treasuries, Fed independence is eroding, and the 2% inflation target is increasingly destructive.3. The Retail Investor Advantage – Unlike institutions, individuals can flexibly shift exposure, avoid factor risks, and stick to a simplified but powerful asset mix.4. The KISS Portfolio – Darius champions a three-part framework as the most effective way to capture upside while hedging against fiscal repression and monetary debasement.📺 Timestamped Chapters00:00 – Introduction & Darius Dale’s mission at 42 Macro05:00 – Paradigm A → B → C: How policy shifted after April’s bond shock13:00 – Fiscal dominance explained: deficits, tariffs, and untouchable spending20:00 – Why the Fed has lost independence and why inflation targeting is broken30:00 – K-shaped economy: winners at the top, losers at the bottom40:00 – The dollar’s future, sector plays, and EM opportunities46:00 – The KISS portfolio: why retail investors should stop chasing factors55:00 – Reactions, testimonials, and the simplicity that worksMore...42 Macro LLCDarius Dale on Linkedin

CRM3 (Total Cost Reporting) isn’t just another compliance box to check—it’s the biggest shift in cost transparency Canadian advisors have ever faced, and how you handle it could define your client relationships for years to come.In this episode of Insight is Capital, host Pierre Daillie sits down with three leading voices to unpack the realities—and the opportunities—of Total Cost Reporting (TCR/CRM3).Joining the conversation are:Arnie Hochman, Senior Vice President & General Counsel at SIMADr. David Lewis, Behavioural Scientist, Consultant & Independent DirectorSteve Braugiroux, Associate Vice President, Dealer Relations at National BankTogether, they break down why TCR matters, what advisors need to prepare for, and how transparency—far from being a threat—can actually deepen trust and strengthen the advisor-client relationship.From the mechanics of cost disclosure to the psychology of investor perception, this discussion explores how advisors can transform a regulatory requirement into a defining moment of value delivery.🔑 Four Key TakeawaysTransparency Builds Trust - Research shows clients often overestimate hidden fees. When full costs are revealed, trust in advisors actually increases, making them more willing to pay for advice.TCR Is a System Overhaul - Unlike CRM2, TCR requires advisors and dealers to report on costs they don’t directly control—demanding a new ecosystem of data sharing between managers, dealers, and service providers. Advisors Must Get Ahead of the Conversation - Waiting until January 2027 to explain statements will create confusion and mistrust. Proactive education now will turn compliance into confidence.An Opportunity for Better Advice - TCR creates a level playing field for comparing costs, paving the way for deeper portfolio conversations, fee budgeting, and demonstrating the true value of advice—especially in areas like asset allocation and behavioral coaching.🕒 Timestamped Chapters00:00 – Why transparency matters: client psychology and hidden fees02:00 – What CRM3 (TCR) really changes for advisors and clients06:00 – The operational challenge: new pipelines, new ecosystems10:00 – Research insights: transparency increases trust, not fear14:00 – What’s included, what’s not—and how advisors can bridge gaps18:00 – Foreign-listed ETFs and global disclosure challenges21:00 – A level playing field: portfolio-wide cost conversations24:00 – Fee budgeting, portfolio construction, and advice value27:00 – Preparing clients early: avoiding confusion in 202730:00 – OEO vs. advice channels and the complexity of FER31:00 – The role of industry associations in guiding implementation33:00 – Closing thoughts: collaboration, consistency, and opportunityMore...• The Securities and Investment Management Association (SIMA)• Read SIMA's FAQ on Total Cost Reporting. #CRM3 #TotalCostReporting #WealthManagementCanada #FinancialAdvisors #InvestmentTransparency #AdvisorClientTrust #BehaviouralFinance #CanadianInvesting #PortfolioConstruction #AdvisorValue

What if the riskiest move in your portfolio isn’t owning crypto—but ignoring it? In this episode of Raise Your Average, hosts Pierre Daillie and Mike Philbrick sit down with legendary advisor, founder of the largest US RIA firm, author, and futurist Ric Edelman, Founder of DACFP (Digital Assets Council of Financial Professionals). Edelman, long known as a trusted voice in personal finance, now makes his most provocative case yet: advisors and investors may need to rethink the role of crypto—moving beyond token allocations toward a meaningful presence in portfolios. Ric explains why today’s environment—marked by regulatory clarity, institutional adoption, and longer human lifespans—has shifted the crypto conversation from speculation to necessity. He argues that traditional 60/40 models are broken in a world of longevity risk, rising rates, and monetary debasement, and calls for a bold reallocation: 80/20 with up to half of the equity/growth sleeve in crypto-related equities and including somewhere between 10% and 40% allocated of that directly to bitcoin and other digital assets e.g. Ethereum, Solana, etc. The conversation spans regulatory breakthroughs, the psychology of allocation, fiduciary responsibility, and the mindset shifts advisors must embrace. As Edelman puts it, “Not owning crypto today is effectively shorting it.” This episode is a must-watch for financial professionals navigating the future of portfolio construction. 🔑 Key Takeaways1. From Fringe to Foundational – With regulatory clarity under the Trump administration and institutional adoption accelerating, crypto is no longer a speculative bet but an investable, regulated asset class.2. Longevity Changes Everything – Advances in healthcare and aging science mean people will live far longer, forcing portfolios to outlast retirements that could stretch 40+ years; Edelman argues this demands higher equity and crypto allocations.3. The New 80/20 – The classic 60/40 portfolio has reached its limits; Edelman calls for 80% equities—with bitcoin and crypto-related equities making up as much as half of that equity sleeve with between a low of 10% to high of 40% directly allocated to bitcoin—for true long-term resilience.4. Advisor Imperative – Compliance officers are shifting from resistance to acceptance as rules clarify, but Edelman warns that advisors who stay at zero risk reputational damage as clients begin to demand crypto exposure.⏱️ Timestamped Chapters 00:00 – Ric Edelman on diversification myths and hidden biases 02:00 – Why crypto deserves a 3%+ passive allocation 04:00 – Ric’s bold new thesis: 10–40% crypto allocation 07:00 – Regulatory clarity and the Trump administration’s policy shift 12:00 – Why low single-digit crypto allocations underserve investors 18:00 – Compliance barriers and regulatory breakthroughs 22:00 – The best time in Bitcoin’s history to invest 27:00 – Longevity risk: why retirement planning must change 31:00 – The end of 60/40: why 80/20 with crypto is the future 40:00 – Demographics, pensions, and the failing glide path model 50:00 – Crypto allocation frameworks: Bitcoin, Ethereum, picks & shovels 56:00 – Why crypto is safer now than ever before 1:03:00 – Volatility as a feature, not a bug 1:08:00 – Behavioral hurdles and myths keeping investors sidelined 1:13:00 – Advisors’ fiduciary duty in the new landscape 1:17:00 – Final thoughts: longevity, technology, and the advisor imperative More...• DACFP (Digital Assets Council of Financial Professionals)• Ric Edelman's Bitcoin Allocation Strategy• Earn your CBDA (Certified in Blockchain and Digital AssetsSM) Designation#CryptoInvesting#BitcoinETF#DigitalAssets#FinancialAdvisors#WealthManagement#PortfolioStrategy#CryptoAdoption#RaiseYourAverage#FutureOfFinance#CryptoEducation

In a market climbing a wall of worry, Alfred Lee, Deputy CIO at Q Wealth Partners, breaks down what’s really driving resilience in equities, the pitfalls of the 60/40 portfolio, and why private markets may hold the key to asymmetric opportunities.SummaryAlfred Lee, Deputy Chief Investment Officer at Q Wealth Partners, joins us for a deep dive into the future of portfolio construction, the limitations of legacy models, and the overlooked opportunities in private markets.With over two decades of experience—from building BMO’s ETF platform from the ground up to shaping Q Wealth’s investment platform—Alfred brings a candid, data-driven perspective on how advisors can navigate today’s uncertain environment.Our conversation ranges from the rise of independence in Canada’s wealth management industry, his role as Deputy CIO at Q Wealth Partners, one of Canada's leading independent advisor platforms where he has been for almost one year, to his views on navigating markets in the context of the push-pull dynamics between fiscal expansion and monetary caution. Alfred also shares his conviction that investors need to evolve beyond the traditional 60/40 and embrace a more diversified, resilient approach—one that integrates private equity, private debt, and liquid alternatives alongside public markets.This is a must-listen for advisors and investors looking to position portfolios for an era where fundamentals matter again, resilience is paramount, and opportunity often lies beyond the obvious.4 Key TakeawaysThe rise of independence in wealth management – Q Wealth is at the forefront of Canada’s RIA-style movement, offering turnkey infrastructure for advisors seeking freedom from traditional institutions.Markets priced for perfection – Equity markets may look overvalued, but earnings surprises suggest valuations could be less frothy than they appear. Still, risks such as tariffs, inflation, and geopolitical uncertainty loom large.Beyond the 60/40 portfolio – Traditional models fail in inflationary regimes; resilient portfolios now require privates and alternatives alongside equities and bonds.Asymmetric opportunities – The most compelling upside lies in private markets and alternative strategies, where strong due diligence can unlock alpha inaccessible in public markets.Timestamped Chapters00:00 – Introduction to Alfred Lee and his career journey02:00 – Q Wealth’s model and the rise of advisor independence in Canada08:30 – Freedom in strategy: private pools, ETFs, and broader exposures14:00 – Defining success at an independent platform15:30 – Market outlook: resilience, risks, and equity momentum24:00 – Fiscal expansion vs monetary caution: Powell vs Trump33:00 – Valuations, earnings, and the search for asymmetric returns39:00 – Private equity, private debt, and the power of secondaries45:00 – Why the 60/40 model is outdated50:00 – The case for alternatives and diversification52:00 – Closing reflections and key lessons#InvestmentStrategy #WealthManagement #QWealth #AlfredLee #InsightIsCapital #MarketOutlook #PortfolioConstruction #PrivateMarkets #Alternatives #ETFInvesting #6040Portfolio #FinancialAdvisors

In a world where inflation, currency debasement, and geopolitical shocks threaten portfolios, what if you could keep your core equity exposure and add the asymmetric upside of Bitcoin and the timeless stability of gold—without triggering investor panic or selling winners? In this episode, host Pierre Daillie sits down with Mike Philbrick, CEO at ReSolve Asset Management, co-founders, along with Newfound Research, of the Return Stacked ETFs Suite, to unpack a strategy that’s been in the institutional playbook for decades but is now accessible to everyday investors: return stacking. Against today’s backdrop of persistent inflation, volatile markets, and shifting perceptions of alternative assets, Philbrick explains why gold and Bitcoin are moving from “fringe” to “foundational” in modern portfolios—and how the RSSX ETF offers a disciplined, behaviorally resilient way to integrate them without sacrificing the stocks and bonds investors know and trust. From the behavioral traps that cause investors to abandon diversifiers at the worst moments, to the portfolio math that shows how modest allocations can improve returns and reduce risk, this conversation delivers both the “why” and the “how” of strategic diversification. Philbrick also addresses the shifting reputational risk for advisors—from owning Bitcoin to not owning it—and the growing regulatory clarity that’s opening the floodgates for institutional adoption. Whether you’re an advisor, allocator, or investor who wants to strengthen a core portfolio without selling winners, this episode offers a blueprint for adding crisis alpha before the next crisis hits. 4 Key Takeaways:• From Fringe to Foundational: Gold’s centuries-old role as a store of value and Bitcoin’s fixed-supply, asymmetric upside make them compelling diversifiers in today’s inflationary, volatile environment.• Behavioral Risk Management: Return stacking helps avoid the tracking error and emotional selling that often plague diversifier allocations.• RSSX Structure: The ETF delivers 100% S&P 500 exposure plus an 80/20 gold-Bitcoin overlay, equal risk-weighted to manage volatility and rebalanced for efficiency.• Shifting Reputational Risk: Advisors now face greater professional risk in not understanding or allocating to Bitcoin and gold than in owning them—especially as regulatory clarity improves.Timestamps:00:00 – Why uncorrelated assets matter now02:00 – Gold and Bitcoin as strategic, not just tactical, diversifiers04:30 – Behavioral challenges of sticking with diversifiers06:00 – Return stacking explained: adding without selling08:00 – Volatility context: stocks, gold, Bitcoin10:00 – Inside the RSSX ETF structure and allocation12:00 – Implementation examples for advisors and investors14:00 – Rebalancing mechanics and volatility adjustments15:30 – Diversifying before the crisis, not after17:00 – Small starts and building from a position of strength19:00 – Institutional adoption trends and parallels21:00 – Reducing tracking error and client friction22:00 – The reputational risk shift for advisors23:30 – Regulatory clarity and institutional green lights24:30 – The mission: improve outcomes without sacrificing core equity enginesMore...🧠 Learn more at: https://returnstacked.com📘 Read more at: https://investresolve.com📊 ETFs: RSSX (Stocks + Gold & Bitcoin) #PortfolioDiversification #ReturnStacking #GoldInvestment #BitcoinStrategy #InflationHedge #AsymmetricUpside #ETFInvesting #BehavioralFinance #WealthManagement #InvestmentStrategies #MikePhilbrick #ReSolveAssetManagement #RSSXETF

In this episode of 'Insight is Capital,' Mark Robinson, the 'sh*tty leadership guy', and founder of The Sh*tty Leadership Series, joins us for a terrific conversation. With over 30 years of experience in leadership, Mark discusses the pitfalls of ego-driven management and the importance of honest, reflective leadership. We dive into the impact of fake perfection, ego, and micromanagement on team dynamics and innovation. Mark also shares practical advice on how leaders can improve by asking the right questions and fostering a culture of safety and growth. Whether you're a seasoned leader or just starting your career, this episode provides valuable insights to help you lead like a real human, not just a manager. Chapters: 00:00 The Pitfalls of Pretending to Be Perfect 01:14 Introduction to Mark Robinson: The Shitty Leadership Guy 03:40 Mark Robinson's Leadership Journey 06:19 The Dunning-Kruger Effect in Leadership 16:38 The Chaos of Performative Leadership 26:23 Micromanagement: Fear Disguised as Excellence 36:33 Introduction to Leadership Questions 36:59 The Impact of Micromanagement 39:00 Clear Communication in Leadership 43:14 Adapting Leadership Questions for Clients 51:15 The Pitfalls of Being a 'Buddy' Leader 01:05:00 Self-Reflection and Improvement for Leaders 01:06:33 Conclusion and Final Thoughts More... Mark Robinson (website) Book: The Ego Continuum Book: The Ego Continuum II Copyright © AdvisorAnalyst

What do advisors do when markets feel like a giant game of Jenga—top-heavy, fragile, and unpredictable with every move? Ahmed Farooq, Senior VP and Head of ETF Distribution at Franklin Templeton Canada joins us to explore how smart ETF design, active fixed income, and global diversification are helping advisors rebuild sturdier portfolios for an increasingly uncertain world. 🎧 Summary: In this episode, host Pierre Daillie welcomes Ahmed Farooq, for a wide-ranging, insight-packed conversation on the evolution of ETF usage by Canadian advisors. From navigating tariff turmoil and Mag-7 concentration risk to building smarter income solutions and global diversification strategies, Ahmed shares a front-line perspective from the road across Canada. He explains how Franklin Templeton is responding to market demand with low-cost passive offerings, factor-based ETFs like their Low Volatility High Dividend suite, and precision-focused actively managed fixed income solutions that are reshaping how advisors approach portfolio construction. With advisors seeking both protection and income, Farooq explains why it's time to get comfortable with complexity—because simplicity in this market can be costly. 💡 Key Takeaways:Regional Divergence in US Exposure Sentiment: Advisor views on US equity exposure vary widely across Canada—Eastern advisors are trimming, while Western clients remain overweight USD assets.Market Fragility Requires Smarter Diversification: Amid tariff threats, macro noise, and election risk, advisors are embracing factor-based strategies (like Low Volatility + High Dividend) to hedge downside without abandoning return potential.Mid-Caps Offer Shelter from MAG7 Storm: Franklin’s new FMID ETF (US Mid Cap Multifactor) helps diversify away from S&P 500 concentration by tilting toward locally domiciled, less globally exposed companies.Fixed Income: “Don’t Try This at Home” Advisors are outsourcing bond sleeve construction due to rate volatility, inverted curves, and term premium unpredictability. Ultra-short mandates like FHIS are seeing big inflows.Pricing Power for Portfolio Flexibility: Franklin’s razor-thin passive ETF fees (as low as 5 bps) free up advisors’ fee budget to allocate to alpha-seeking active or alternative strategies.Smart Beta 2.0 is Actually Just... Smarter Rules: Legacy “smart beta” is giving way to multi-layered, rules-based ETFs that integrate dividend sustainability, earnings quality, and volatility screens.Active Management is Back—for Good Reason: As bond markets become harder to read, advisors want precision, not guesswork. And they want active managers who justify their fees through measurable performance and risk control.⏱️ Chapters: 00:00 – Intro: Market Noise, Rate Cuts, and Tariff Whiplash 01:30 – Cross-Canada Advisor Sentiment on US Exposure 05:45 – Emotional Investing & Climbing the Wall of Worry 10:30 – Why Low Volatility + High Dividend ETFs Are Resonating 13:00 – Avoiding Dividend Traps: Earnings & Guidance Matter 18:20 – FMID: Mid-Cap US Multifactor as a MAG7 Antidote 24:00 – Are Mid-Caps More “Domestic”? Surprising Names & Thesis 28:00 – The Fixed Income Puzzle: Why Advisors Aren’t Going Long 33:00 – Ultra Short Flows & Advisor Reinvestment Fatigue 36:45 – Why Active Fixed Income Is in Demand Again 42:00 – Fixed Income Doesn’t Excite Advisors—That’s Why They Outsource It 44:45 – From “Smart Beta” to Smarter Rules-Based Strategies 48:00 – The Evolution of Active Fixed Income ETF Design 51:00 – The Fee Budget Shift: Where Active and Passive Coexist 55:00 – Franklin's Pricing Strategy and Competitive Edge 58:00 – Fee Budgeting: Making Room for Alternatives 01:01:00 – What's Ahead: Tariffs, Geopolitics & Diversifying for Multiple Outcomes 01:04:30 – Helping Advisors Build Resilient Models and Platforms 01:08:00 – Why Pricing, Platform Fit, and Analyst Buy-In Matter #ETFs #FranklinTempleton #FixedIncome #SmartBeta #DividendInvesting #PortfolioConstruction #ETFInvesting #AdvisorInsights #ActiveManagement #Markets2025 Copyright © AdvisorAnalyst.com

🎯 "Investors Aren’t Just Asking ‘Will I Have Enough?’—They’re Asking ‘Will I Be Okay?’" In this episode of Insight is Capital, we're joined by Sam Febbraro, SVP of Wealth Solutions at Canada Life and President & CEO of Canada Life Investment Management Ltd.. With fresh insights from Canada Life’s 2025 Abacus Data survey in hand, Sam offers a compelling look at how Canadians are thinking about their investments, what’s driving client confidence (and where it breaks down), and why the role of the advisor has never been more important—or more human. 📝 Summary Sam Febbraro reveals how today’s investors are navigating a complex web of economic uncertainty, inflation pressures, and shifting priorities. It’s no longer just about performance—it’s about resilience, safety, and purpose. Drawing on the latest investor sentiment data, Sam explains why financial advisors must evolve from product-focused strategists to trusted navigators and educators. He outlines the power of segregated funds to deliver peace of mind and estate efficiency, underscores the importance of bridging the financial literacy gap, and calls on advisors to boldly articulate their value in a post-CRM3 world. 💡 Key Takeaways:📌 #ValueOfAdvice, #SegregatedFunds, #InvestorConfidence, #FinancialPlanning, #CanadaLife

Chances are, you're already using carry strategies in your portfolio—without even realizing it. Problem is, if you’re not doing it deliberately, it might be doing more harm than good. 🔍 Episode Summary In this special episode of Raise Your Average, Pierre is joined by Adam Butler, Chief Investment Officer at ReSolve Asset Management, co-creators along with Newfound Research of the Return Stacked ETF suite, to unpack the misunderstood world of carry strategies. They dig into what carry really is—beyond just currency trades—and why most investors unknowingly take on carry risk without any plan to manage it. Adam breaks down how carry strategies work across currencies, bonds, equities, and commodities, and why combining them in a diversified portfolio can offer powerful, uncorrelated returns. He also explains how return stacking solves a long-standing advisor dilemma: how to add diversification without cutting into your core stock or bond holdings. Now, thanks to ETFs like RSSY and RSBY, retail investors can finally tap into strategies that used to be locked behind hedge fund doors. If you're an advisor or investor looking to build smarter, more resilient portfolios—without giving up performance—this conversation is a must. 💡 Key TakeawaysWhat Carry Really Means: It’s the income you get from holding an asset—like dividends, bond interest, or yield differentials between currencies.You’re Already Exposed (Probably): Many portfolios contain carry trades by accident, especially when investing internationally.Diversification That Works: A global, long/short carry strategy across multiple asset classes offers true diversification without piling on risk.Now in ETF Form: Carry strategies were once only for institutions. Now anyone can access them through ETFs like RSSY and RSBY.No Need to Sell Your Core Assets: With return stacking, you don’t have to sell stocks or bonds—you just add carry on top.Built-In Behavior Benefit: Carry becomes part of your total return, so it’s less likely to get cut when it’s underperforming.Realistic Return Potential: Expect 3–5% excess return over time at 10% volatility—similar to equities but with a different risk profile.Why This Matters: The macro space is still relatively inefficient—meaning carry has room to outperform without competition.⏱️ Chapters 00:00 – Intro: What Is Carry, Really? 01:00 – The Currency Carry Trade 101 04:00 – Beyond Currency: Carry Across Asset Classes 07:00 – Why Carry Happens Everywhere in Your Portfolio 10:00 – Absolute Return vs. Uncorrelated Return 12:00 – Accidental Carry Exposure (And How to Fix It) 14:00 – The Case for a More Deliberate Strategy 17:30 – How Return Stacking Solves the Diversification Dilemma 22:00 – Why RSSY and RSBY Are Built Differently 26:00 – Behavioral Bonus: Less Line-Item Regret 30:00 – What You Can Expect from Carry Over Time 33:00 – The Limits of Stock Picking & the Power of Macro 36:00 – Why Carry Could Be Retail’s Most Underused Advantage 40:00 – Where to Learn More and Take Action 📌 #ReturnStacking, #CarryStrategy, #ETFInvesting, #PortfolioDiversification, #AlternativeInvestments 🧠 Learn more at: https://returnstacked.com 📘 Read more at: https://investresolve.com 📊 ETFs: RSSY (Stocks + Carry) | RSBY (Bonds + Carry) 👍 Like, comment, and subscribe if you want more tools to stack your returns without breaking your portfolio.Copyright © AdvisorAnalyst