“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors

FromSimple, but Not Easy

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“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors

FromSimple, but Not Easy

ratings:

Length:

38 minutes

Released:

Nov 21, 2022

Format:

Podcast episode

Released:

Nov 21, 2022

Format:

Podcast episode

Titles in the series (100)

Simple, but Not Easy is a podcast about investing and behavioral science by Morningstar Investment Management LLC. Most shows focus on our asset class research, our principled approach to managing money, or our insights on using behavioral science to help investors and advisors make better decisions.

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"The Largest Purchase Most Americans Will Ever Make": Researching the State of Retirement: When you save and invest, most likely your biggest financial goal is retirement, a topic that can be daunting or even frightening on both a personal level and on a macro level. Host Drew Carter discusses the state of retirement with David Blanchett, head of retirement research at Morningstar Investment Management, who has called retirement the "largest purchase most Americans will ever make." Today's discussion revolves around the "right" age to retire, online savings and management tools, retiring earlier than planned, and how far off people tend to be when planning for retirement, as well as if there is in fact a retirement crisis. by Simple, but Not Easy
27 min listen
Bringing Their "A-Game": Advisors as Behavioral Coaches: Today's episode explores what the role of financial advisors really entails. When you think about, did the role of 'behavioral coach' cross your mind? Guest Ryan Murphy, Ph.D., head of decision sciences at Morningstar, Inc. thinks it should. Host Drew Carter and Ryan Murphy discuss the responsibilities, such as behavioral coaching, that may be central to an advisor’s role, perhaps even more important than some traditional roles, like, say, building investment portfolios. by Simple, but Not Easy
17 min listen
Some Like It Hot: Looking into the IPO Market: The market for initial public offerings, or IPOs, in the U.S. is hot, with household names like Lyft, Uber, and Pinterest coming to the public markets with a lot of media coverage and interest from investors. But many of these so-called unicorns who’ve achieved $1 billion valuations before they’ve gone public have never turned a profit. So, how can investors tell if these IPOs are potentially worth investing in? Host Drew Carter speaks with Ali Mogharabi, senior equity analyst at Morningstar Research Services, about the history of the IPO market, internet bubble, and 'tech unicorns.' Then, we learn from John Owens, senior portfolio manager at Morningstar Investment Management, about the caution taken when approaching 134 firms that went public last year. Recorded on: May 14, 2019 by Simple, but Not Easy
43 min listen
Contrarian Ideas: Have Lower Oil Prices Made Energy Stocks Attractive?: On September 14, 2019, Saudi Arabian oil fields were attacked, leading to a spike in oil prices. But the spike quickly subsided, with prices falling back—and even below—their pre-spike prices about two weeks later. But the phenomenon of lower oil prices is of course not new. And that’s reflected in the returns of U.S. stocks in the energy sector, which lost an average of about 5% a year over the five years ended September 30, according to S&P 500 sector index data on Morningstar Direct. The S&P 500, during that same period, rose nearly 11% annualized, while the IT sector climbed more than 18% on average each year. How does this weigh on our views of the energy sector going forward? We think energy is the most underpriced sector and, as valuation-driven investors, we therefore believe this sector may be poised for better growth than the broad market in the future. by Simple, but Not Easy
46 min listen
Better Decision-Making Through Diverse Opinions, Pt. 2: Getting more women into portfolio management might seem like a no-brainer. But Marta Norton, portfolio manager at Morningstar Investment Management, says "it’s a knotty problem because you don’t want people to have women or diversity on their team … just for the sake of having that kind of diversity. As a woman, I find it kind of insulting when people say, 'We need to have a woman here,' because then you don’t feel like you’re earning it by your own merit. And I feel very strongly that I’ve earned it by my merit, I feel that Michelle has, that Hong has. None of us want to feel like we are some sort of token by any measure, and I would imagine that most people would feel the same way. But at the same time, I like to express this as diversity of thought—if you have people all thinking the exact same way, you’re gonna have biases and your gonna make mistakes. But like Abraham Lincoln’s cabinet—a team of rivals—if you have people wi by Simple, but Not Easy
14 min listen
Thinking in Bets, and About Biases: A Deep Dive into Using Behavioral Science Techniques in Investing: Advisors and investors are hearing more and more about behavioral science and behavioral economics, essentially how our humanity gets in the way of rationality, and what we can do to improve our decision-making. But what about investment managers themselves? Are they naturally more rational? How can a portfolio manager avoid making behavioral errors? Host Drew Carter is joined by Dan Kemp, chief investment officer for EMEA at Morningstar Investment Management. In this episode, Drew and Dan will discuss who is susceptible to behavioral biases and Annie Duke's book, 'Thinking in Bets.' by Simple, but Not Easy
27 min listen
Planting Sustainable Investing in Your Practice [Part 2]: Now that we've been given a great background on sustainable investing, Drew Carter turns our attention to how advisors and investors might go about investing in a sustainable way. Recorded on: April 5, 2019 by Simple, but Not Easy
34 min listen
Picking Stocks for the Long Run: 4 Portfolio Managers Share Their Thoughts: Four portfolio managers describe how they evaluate and select stocks for their concentrated portfolios. by Simple, but Not Easy
38 min listen
Sinking Treasury Yields: Our Views on the “Belly” of the Curve: Host Drew Carter discusses recent Treasury yield moves with Edward Fane, portfolio manager and head of U.S. fixed-income research at Morningstar Investment Management. They also discuss a scenario analysis Ed did that led to some portfolio implications that might be surprising, coming from a valuation-driven investor--further evidence that investing can be simple, but not easy. by Simple, but Not Easy
41 min listen
Better Decision-Making Through Diverse Opinions, Pt. 1: Getting more women into portfolio management might seem like a no-brainer. But Marta Norton, portfolio manager at Morningstar Investment Management, says "it’s a knotty problem because you don’t want people to have women or diversity on their team … just for the sake of having that kind of diversity. As a woman, I find it kind of insulting when people say, 'We need to have a woman here,' because then you don’t feel like you’re earning it by your own merit. And I feel very strongly that I’ve earned it by my merit, I feel that Michelle has, that Hong has. None of us want to feel like we are some sort of token by any measure, and I would imagine that most people would feel the same way. But at the same time, I like to express this as diversity of thought—if you have people all thinking the exact same way, you’re gonna have biases and your gonna make mistakes. But like Abraham Lincoln’s cabinet—a team of rivals—if you have people wi by Simple, but Not Easy
30 min listen
Markets Quiz: Test Your Knowledge!: Play along with our markets quiz, complete with drum roll special effects before we reveal correct answers! Senior portfolio manager Dan McNeela joins host Drew Carter for this special episode. We discuss some perhaps surprising market return figures, and Dan offers some insights into how to interpret market data. by Simple, but Not Easy
50 min listen
Value Investing: Intelligent Investing Aims to Get More Than You Pay For: Too often value investing is confused with the value style, and value investors are mistakenly thought to buy only value stocks. Daniel Needham, president and chief investment officer at Morningstar Investment Management, shares his views on value investing and on the way his team uses a valuation-driven approach to multi-asset investing. After all, as Charlie Munger has famously said, “All intelligent investment is value investment because why would you want to buy something which wasn’t worth as much as you were paying for it, and who wouldn’t like buying something for less than it’s worth? by Simple, but Not Easy
39 min listen
A Contrarian View: Why We Prefer International Over U.S. Stocks: Developed equity markets outside the U.S. have struggled mightily for about a decade since the global financial crisis. Individually, these markets have their unique struggles, whether it’s Brexit in the U.K. or sustained economic growth and profitability in Japan. So, why would anyone want to invest in these markets, let alone prefer them to the U.S. market? Portfolio manager Gareth Lyons, who covers equity markets outside the U.S., discusses his views with host Drew Carter. by Simple, but Not Easy
17 min listen
What Is Sustainable Investing? [Part 1]: Are you new to sustainable investing and ESG? Guests Jon Hale and Julie Koska of Morningstar Research Services explain how managers are incorporating environmental, social, and governance into investment decisions, why investors are flocking to ESG portfolios, and the effect of ESG on investment returns (which might surprise you). Drew Carter hosts. Recorded on: April 1, 2019 by Simple, but Not Easy
24 min listen
Is Dollar-Cost Averaging Irrational? Compared to What?: Terry Hawkins, sales manager at Morningstar Investment Management and Paul Kaplan, research director for Morningstar Canada, discuss dollar-cost averaging, or the practice of investing slowly over time instead of in one lump sum. Research by Kaplan and others show that dollar-cost averaging might be expected to underperform a lump-sum approach. But what if it's what gets an investor into the markets? by Simple, but Not Easy
31 min listen
Talking Turkey: What We're Thankful for in 2019, and What We'd Be Thankful for in the Future, Pt. 1: Ryan Murphy talks about why it's good to give thanks, and how it can make us better investors. Then Brian Huckstep, Dan McNeela, Cindy Galiano, and Mike Stathakis share what investment developments they're thankful for, as well some things they would be thankful for if they came to pass. Drew Carter hosts. by Simple, but Not Easy
33 min listen
Red Dusk: Do Post-Rally Prices Call for Russian Bearishness?: In today's episode, host Drew Carter talks with Nabil Salem, senior investment analyst at Morningstar Investment Management, about his latest research on Russian stocks that resulted in a downgrade to this "permanent contrarian" play. by Simple, but Not Easy
37 min listen
Not-So-Crude Markets: Energy Infrastructure and MLPs: A chart of oil prices in the past year looks a lot like a roller coaster. And the stock prices of oil companies tend to follow oil prices higher or lower. Today's episode will discuss an energy investment that’s different in many ways from the oil companies that are household names because of their corresponding gas stations—firms like Exxon Mobil and Chevron. We'll focus on energy infrastructure and MLPs, or master limited partnerships, and how they're used in some of our portfolios. Joining Host Drew Carter is joined by George Metrou, Portfolio Manager for the Dividend Select Equity strategy here in the US, and Dan McNeela, who is co-head of our target risk strategies in the U.S. Recording date: June 24, 2019 by Simple, but Not Easy
45 min listen
Helping Others: 2 Financial Advisors Share the Challenges and Joys of Their Practice: Peter Dugery, head of sales at Morningstar Investment Management, leads a discussion on the environment advisors face today. His guests are Matt Unger, the founder and managing director at Focus Asset Management, an independent RIA in Dallas, and Jason Baker, co-founder and president of Baker Wealth Management in North Carolina. by Simple, but Not Easy
30 min listen
Getting Personal: Getting to Know How Advisors Get to Know Their Clients: In today's episode, host Drew Carter gets up close and personal--into investing, that is. Getting personal might elicit nervousness, but why does it seem so antithetical to investing? We explore personalization and customization in financial practices: If you’re an investor, how well does your financial advisor know you? And advisors, how much time have you taken to get to know your clients? Joined by Morningstar Investment Management group's Matthew Radgowski, chief operating officer for the Americas, and Marta Norton, head of outcome-based strategies in the Americas, as well as Ryan Murphy, Ph.D. head of decision sciences, the conversation reviews Morningstar's belief that getting *personal* can be good for investors AND advisors—but it may be more complicated than you think. by Simple, but Not Easy
37 min listen
Markets in Crisis: What Are Potential Implications for Inflation?: Inflation has been tame for some time. But where will inflation go from here? Will the massive COVID-19-related stimulus by the Fed and the Treasury lead to higher inflation? Or will rocketing unemployment weaken inflation—in fact, is deflation a greater concern in the near term? by Simple, but Not Easy
23 min listen
Dump the Dow: Why What You Pay Attention to Matters: In this episode, John Owens and Ryan Murphy talk about why price-weighted indexes like the Dow Jones Industrial Average can be distracting to investors. John, who's a senior equity portfolio manager at Morningstar Investment Management, explains why investors should disregard single-day Dow point drops, and also any short-term performance. Ryan, who's head of decision science at Morningstar Investment Management, shares some recent research that shows someone's risk perspective can be affected by what they pay attention to. Together, our guests discuss with host Drew Carter how discipline and nudges can help investors ignore the noise and stay focused on their financial goals. by Simple, but Not Easy
28 min listen
Advisor Profile: Kevin Schaefer Coaches Clients to Have a 'Simple Smile': Kevin Schaefer coaches clients to plan for the worst, and to be content. An obsession with money distorts smiley faces into ones with dollar-sign eyes and a squiggly mouth because it often leads to aggressive investing that's like being on a roller coaster. A smoother ride, he says, keeps "a simple smile on your face." Schaefer, a CFP and founder at Spirit West Certified Planning, LLC in Scottsdale, Arizona, says, "There aren't enough contrarians" paying attention to risks embedded in passive index-linked investments. "I'm hoping that trend (toward passive) will break and people will get back to basics." by Simple, but Not Easy
39 min listen
Market Turbulence and Loss: Behaving Well When Markets Go Bad: Market losses can be upsetting. Aside from the pain of losing money, there’s something about it that just doesn’t feel right. Yet, we know that market dips, declines, and disasters are all a part of investing. So, what can investors do about them? Host Drew Carter is joined by Andrew Lill, chief investment officer, and Ryan Murphy, head of decision science, both at Morningstar Investment Management LLC, to discuss what investors can do to prepare for market declines, and how to respond when we find ourselves in the middle of an unfortunate drop in prices. by Simple, but Not Easy
48 min listen
Outlook 2020 Pt. 2: Finding Opportunities When Most Markets Are Overpriced: We conclude our two-part conversation on our Outlook for 2020 and beyond with views on asset classes we view as being attractively priced. Philip Straehl, head of capital markets & asset allocation, Americas, and Tanguy de Lauzon, head of capital markets & asset allocation for EMEA, return to share their views. Important Disclosure: Returns for U.S. stocks are indicated by the Morningstar US Market Index. by Simple, but Not Easy
33 min listen
Advisor Profile: Erik Bowman Moved Quickly to Adapt His Practice to COVID-19: Growing a financial planning practice can be challenging at the best of times. But what if you had to replace your in-person presentations and meet-and-greets with online events and marketing tools? In this episode, Erik Bowman talks about how he’s looking to attract new clients in a shelter-in-place COVID-19 world. by Simple, but Not Easy
27 min listen
Our Back-to-School Reading List (Part 1): While host Drew Carter is on sabbatical, producer Sammie Spector guest hosts a two-part series on top reading recommendations from Morningstar employees. Guests include Christine Benz as well as portfolio managers, sales directors, and behavioral scientists, to provide a variety of reading material ranging from investment self-service books, to environmental sustainability, as well as one 'picture book' and perhaps the only investment principles book in the fiction genre. by Simple, but Not Easy
39 min listen
Theories, Crowds, Bubbles, & Bees: Daniel Needham on Contrarian Investing: Why might contrarian investing outperform, and how might an investor know when it's time to head in the opposite direction from the crowd? Daniel Needham, president and global chief investment officer, explores why markets are frequently efficient and what makes them become inefficient; explains how contrarians can act like a thermostat for markets; and explains how bees can be better decision-makers than humans at times. He also shares a checklist his team uses to help them make rational decisions that go against the crowd. Drew Carter hosts. by Simple, but Not Easy
42 min listen
The Next Generation of Investors: A Conversation with Millennials: Millennials. Has a generation ever attracted so much attention from—or created so much angst within—the financial services industry? If you Google “Millennials and financial advisors” or “Millennials and investing,” you’ll find a dizzying array of surveys and published opinion pieces on the topic. And for good reason—Millennials and those that will come after them represent the future of investing and financial advice. Host Drew Carter decides to leave the surveys and data behind, and focus some interviews on real… live… Millennials, here in the studio to talk about investing and financial advice. Drew Carter asks our 4 millennials in the studio about their investing habits, their opinions on working with a financial advisor--and what specific types of financial advice they're looking for, and their approach to savings. by Simple, but Not Easy
41 min listen
Think Integration, not Outsourcing: The Importance of Choosing the Right Money Manager: Is "outsourcing" a dirty word? Are managed money offerings all the same? Matt Radgowski and Peter Dugery share insights on the challenges and rewards for financial advisors when choosing a money manager to handle client portfolios. Drew Carter hosts. Matt is managing director, Americas, at Morningstar Investment Management, and Peter is head of sales at the same firm. by Simple, but Not Easy
32 min listen

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Lifetime Financial Advice: Enhanced Personalization by Considering Human Capital: The evolution of financial advice in a few decades time has been nothing short of revolutionary. The industry's transformation has been driven by technological advancements, regulatory changes and evolving investor preferences. Traditional methods of in-person advice have been expanded to include digital platforms, providing investors with greater accessibility and customization. And we've all observed an evolution in financial planning journeys and an increase in the number of advisors making financial planning core to their value proposition. But we still have to ask, is there room for improvement? by Simple, but Not Easy
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Baby Boomers to Millennials: Working Across Generations to Help Them Achieve Financial Goals: Much of the discussion around financial advice tends to be around asset allocation, product selection, and fund structures. These are all worthy conversations and topics we’ve enjoyed discussing previously on this show. But one topic that feels underexplored: how do advisors deliver financial advice to clients across generations? A retired client in their 70s needs a much different advice offering than a 40-year-old client in their prime work years. In this episode, we are diving into the fascinating intergenerational dynamics of financial advice. by Simple, but Not Easy
41 min listen
U.S. Stocks: Beyond the Magnificent Seven: The Magnificent Seven continue to capture the attention of advisors and investors, dominating U.S. equity performance over the last year. Will this trend continue throughout 2024? Will growth stocks continue to beat value? What about large versus small? And what is 2023's signal about where markets are headed this year? We're delighted to be joined by John Owens, Senior Portfolio Manager for Morningstar's Select Equity Strategies, and Paul Tait, Portfolio Specialist at Morningstar Wealth. Together, they help unpack the landscape for U.S. stocks in a digestible manner. by Simple, but Not Easy
29 min listen
2024 Outlook: Economy, Inflation, Best Ideas, and AI: The topics we're discussing today align with the recent release of Morningstar Wealth's 2024 Market Outlook. A recession seemed to be the consensus view entering the year, but markets love to fool the masses, and a stock market rally followed. However, the rally was not evenly distributed. Bonds, for example, remain in a multi-year drawdown, and many investors are questioning their role in a portfolio. With this as the backdrop, what actions make sense to support clients? In today's episode, we're delighted to have Morningstar Wealth's CIO of the Americas, Marta Norton, and Chief U.S. Economist, Preston Caldwell with us to dig into the outlook, share their perspectives, and, as always, be sure to address the implications on client portfolios and any suggested actions to take by Simple, but Not Easy
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AI's Role in the Future of Wealth Management, Featuring the AI Character "Morningstar Mo": A lot has already been said about the potential of artificial intelligence, or AI, but how are people actually engaging with it? And how should investors think about their AI exposure in a portfolio? Morningstar has invested heavily in generative AI, with Morningstar Mo taking the stage at our investment conference, and in a first, we're delighted to be joined by a special guest: Mo the AI character. We’ll also be joined by Adley Bowden, Head of Individual Investor and Grady Burkett, Portfolio Manager of the Hare strategy. This marks the start of a new season of Simple But Not Easy, with Nick VanDerSchie taking the mic from Jonathan Linstra, whom we thank for his fabulous insights. Together, let's turn AI speculation into real-world application. by Simple, but Not Easy
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The Cutting Edge of Advisor Technology: Ezra Group's Craig Izkowitz: Financial technology is going through a new wave of change, with artificial intelligence – or AI – taking the world by storm. But the wealth tech space is already incredibly complex, with literally hundreds of tech providers battling for market share across the advisor workflow. So, what does Ezra Group, a prominent WealthTech consultant, have to say about this? How can we get ahead of this change? We're delighted to be joined by Craig Iskowitz, Founder of Ezra Group. Together, we’ll dig into his latest technology predictions, covering AI, integration opportunities, fractional outsourcing, and more. A key takeaway: "Meet once a year with your team and talk about your technology." by Simple, but Not Easy
33 min listen
$The Cutting Edge of Advisor Technology: Ezra Group's Craig Izkowitz: Financial technology is going through a new wave of change, with artificial intelligence – or AI – taking the world by storm. But the wealth tech space is already incredibly complex, with literally hundreds of tech providers battling for market share across the advisor workflow. So, what does Ezra Group, a prominent WealthTech consultant, have to say about this? How can we get ahead of this change? We're delighted to be joined by Craig Iskowitz, Founder of Ezra Group. Together, we’ll dig into his latest technology predictions, covering AI, integration opportunities, fractional outsourcing, and more. A key takeaway: "Meet once a year with your team and talk about your technology."$
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39 min listen
What Actions Add Value in This Environment?: Warren Buffet readily admits “I make many mistakes” when referencing his own investment portfolio. This begs the question, where does that leave the rest of us? We know that today's market uncertainty can surface the best and worst of our investing behaviors. For financial advisors, what are some of the behavioral pitfalls to avoid for clients? And what opportunities can you seize? We're joined by two experts to help us dig into these important questions - Michael Laughlin, Head of Portfolio Specialists, and Samantha Lamas, Senior Behavioral Researcher at Morningstar. by Simple, but Not Easy
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Latest Research on Stagflation & Market Impacts by Simple, but Not Easy
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Investing in Today's Volatile Markets: New Season, 100th Episode: Investors can become confused in today’s challenging climate, and understandably so. It can be difficult for advisors and investors of all types and sizes. In this new season of Simple but Not Easy, we welcome Jonathan Linstra as your new host, along with two of Morningstar’s investment chiefs, Dan Kemp and Marta Norton, who offer straight talk to help navigate this difficult environment. They also shed light on investment lessons and what they look for. We hope you enjoy the episode, from the team at Morningstar Wealth. by Simple, but Not Easy
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Episode 100 Coming Next: But First, Listen To Our Most Downloaded Episode So Far: Stay tuned for our 100th episode up next! We are reinvigorating the podcast going forward, seeking to equip financial advisors with ideas to remove friction and help clients achieve goals. But before we do, we'd also like to thank everyone who contributed to the first 100 episodes, delivering value for our listeners through both calm and stormy waters. To that end, in this episode we showcase the most downloaded so far, which still has special relevance today - investing amidst uncertainty. It covers inflation, interest rates, and context on how to navigate it all. by Simple, but Not Easy
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Behavioral Science & Tips in Volatile Markets: "The most important quality for an investor is temperament, not intellect". Investing is therefore a matter of good behavior. So what behaviors give advisors and their investors an edge? What behaviors are destructive? In this episode, which recycles evergreen behavioral messages and cites specific studies, Sarah Newcomb, director of financial psychology at Morningstar, Inc., and Ryan Murphy, global head of behavioral insights, discuss all things relating to behavioral science. They cover emotions brought on by market loss, how they can affect decisions, cognitive biases to watch out for and ways investors can make better decisions using behavioral science. by Simple, but Not Easy
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Our Insights on the Berkshire Hathaway Annual Shareholder Meeting: We present our thoughts on the recent Berkshire Hathaway conclave. Mr. Buffett and Mr. Munger discussed their firm’s ups and downs and weighed in on such topics as their latest investment activity, inflation, cryptocurrency, and what makes their company unique. And we feature the views of Head of U.S. Equity Strategies Michael Corty and Senior Portfolio Manager John Owens, who bring years of experience to the table when giving their points of view on what Buffett and Munger had to say. by Simple, but Not Easy
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Investing Amidst Uncertainty: We’ve got the same thing on our mind as the rest of the market—uncertainty. What’s going to happen? Why? When? And what should we do about it? Well, in this episode, taken from a recently recorded webinar, we do our best to address those concerns. We also hope to allay some of the associated fears. To do so, we’ll hear from Tyler Dann, our Head of Research in the Americas; Ricky Williamson, a Portfolio Manager and our Head of U.S. Outcome-Based Strategies; and Paul Arnold, Co-Head of Asset Allocation Strategies. by Simple, but Not Easy
63 min listen
Is Dollar-Cost Averaging Irrational? Compared to What? (Episode 30 Rebroadcast): Terry Hawkins, sales manager at Morningstar Investment Management and Paul Kaplan, research director for Morningstar Canada, discuss dollar-cost averaging, or the practice of investing slowly over time instead of in one lump sum. Research by Kaplan and others show that dollar-cost averaging might be expected to underperform a lump-sum approach. But what if it's what gets an investor into the markets? by Simple, but Not Easy
31 min listen
Dump the Dow: Why What You Pay Attention to Matters (Episode 14 Rebroadcast): In this episode, John Owens and Ryan Murphy talk about why price-weighted indexes like the Dow Jones Industrial Average can be distracting to investors. John, who's a senior equity portfolio manager at Morningstar Investment Management, explains why investors should disregard single-day Dow point drops, and also any short-term performance. Ryan, who's head of decision science at Morningstar Investment Management, shares some recent research that shows someone's risk perspective can be affected by what they pay attention to. Together, our guests discuss how discipline and nudges can help investors ignore the noise and stay focused on their financial goals. by Simple, but Not Easy
28 min listen
Demonstrating ESG Commitments for Advisors and Investors (Episode 74 Rebroadcast): In this rebroadcast of an episode from 2021, Paul Arnold and Dan Kemp discuss how advisors can better understand why ESG is important to a client—whether it’s the expression of one’s values or something else. We also look at how advisors might think about matching each client with a portfolio that addresses their unique ESG preferences and needs. by Simple, but Not Easy
38 min listen
Fear of the Unknown: Inflation and Rising Rates: “The oldest and strongest emotion of mankind is fear,” author H.P. Lovecraft once wrote. “And the oldest and strongest kind of fear is fear of the unknown.” Fear of the unknown is no stranger to the investment world these days. We’re living in scary times. And the investors who aren’t feeling jumpy right now tend to fall into one of two categories: those who have a plan—and those who haven’t a clue. Let's talk about how to manage your fear of the unknown when it comes to inflation and rising rates—and why doing so can help you avoid making the wrong moves at the wrong time. by Simple, but Not Easy
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Key Investing and Behavioral Messages for Advisor-Client Meetings (Episode 51 Rebroadcast): In this rebroadcast of an episode from 2020, we explore why advisors might change the focus of annual meetings to progress updates with Ryan Murphy, head of decision sciences at Morningstar Investment Management. And Daniel Needham, president, shares his thoughts on how to keep investors focused on the long term. by Simple, but Not Easy
39 min listen
Risk, Downside Protection, and the Goal Mindset: Short-term worries versus long-term goals—which are guiding your investment decisions? If you’ve done your homework and you’ve given careful consideration to achieving the financial results you want, that question is easier to answer—even if it remains nerve-wracking to stay the course. Here in early 2022, we’re awash in short-term concerns once again. Between inflation, rising interest rates, and more, it’s easy to question the faith you had when the outlook was brighter. So, with that in mind for this episode, we’re focusing on how to keep your worries at bay and your eye on the ball. by Simple, but Not Easy
62 min listen
Overconfident? Cognitively Rigid? How Investors Can Make Better Decisions by Dealing With Emotions and Biases (Episode 50 Rebroadcast): "[W]e can’t avoid the reality that we’re experiencing and probably will continue to experience stress, uncertainty, and change. But the question is, how do we cope?" — Sarah Newcomb Given recent market volatility, we thought it might be helpful to revisit this episode from July 13, 2020, which features two experts on investor behavior and decision-making. Sarah Newcomb, director of behavioral science at Morningstar, Inc., discusses emotions brought on by market loss, talks about how they can affect decisions, and offers some ways to cope. Ryan Murphy, head of decision sciences at Morningstar Investment Management, discusses cognitive biases to watch out for and ways investors can make better decisions. by Simple, but Not Easy
28 min listen
2022 Outlook: Rising Interest Rates. New COVID-19 variants. Inflationary pressures. Those and other factors are on the minds of investors as we head into 2022. Will the new year be one of prosperity, or is it time to fortify your defenses? The truth is that it’s nearly impossible to know. And that’s why we at Morningstar follow a mantra of, ”Don’t predict—prepare.” In this episode, we ring in 2022 with our take on how to best prepare for what’s to come, no matter how handy you may or may not be with a crystal ball. In fact, we note that if you address the future properly, you don’t need to play soothsayer at all. It’s not about prognostication. It’s about preparation. And at the end of the hour, we hope you’ll have a clearer idea of how to be better prepared. by Simple, but Not Easy
58 min listen

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“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors

“Advisors Will Want to Run a More Profitable, Growing, Scalable Practice” - Daniel Needham to Financial Advisors

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