Can You Hold My Attention? The Derek Bruton Podcast

I’ve met many people in my financial services career who, quite simply, have changed the face of the industry and changed lives along the way.  Charles Schwab revolutionized the brokerage industry and pioneered RIA custody in the late 80’s.  Tom Bradley, while at TD Ameritrade in 2005, took a radical stand in emphasizing the importance of being a fiduciary to your clients, well before talk of the DOL rule or Reg BI.  And I witnessed Valerie Brown not only become one of the most successful female CEOs ever in the broker/dealer industry, but also make an indelible impact on the rights of financial advisors and their businesses through the lobbying she did with government regulators. Now, I’ve had the opportunity to meet one of the most dynamic leaders and advocates for social change that you’ll ever see in our industry.  She’s someone that I’m confident we’ll be talking about for many years to come.

Rachel Robasciotti, the CEO of Adasina Social Capital, is truly changing the way investing can lead to material changes in the most problematic issues in our society.  There’s not a day that goes by that I don’t read about ESG - Environmental, Social and Governance – investing.  But Rachel and Adasina take ESG investing to a whole new level of passion and conviction.  She’s found a way to make true changes in society through the exchange traded fund that she manages, while remaining committed to generating performance for her shareholders.

And on this episode of Can You Hold My Attention, in the wake of a historical step forward in justice after Derek Chauvin was found guilty of 2nd degree murder, we’ll dive deep into how a black female from a small town in California rode her childhood experiences and passions straight into an industry that suffers from gender and racial diversity problems.

Rachel Robasciotti actually chose wealth management as the platform to amplify her voice for change.

Basketball is one of my passions, so recording this episode was a blast! Chris Dudley & Detlef Schrempf played a combined 32 years in the NBA, and have chosen financial services as their second career. The lessons they share from their experiences are timeless, and apply to each of us and the role we play on our own personal teams – both in the office and at home. Of course, I couldn’t resist sneaking in a little fun and asking them to pick their ultimate basketball teams. Be sure to listen to the end to hear their selections!

• How they found their way to the NBA
• Why they were asked to play different roles in the NBA, and how they found success in them
• Why they transitioned into financial services
• How they leverage their vast networks of relationships for business without abusing them
• Chris & Det’s advice for those considering working with professional athletes

Samantha Russell has been named to Investment News’s “40 Under 40” and to wealthmanagement.com’s “10 to Watch” list for her work in creating dynamic websites and digital marketing strategies for Advisors. Our conversation about why digital marketing matters and how to measure return on investment moved me from being slightly skeptical to being excited to try some new things in Kingswood’s marketing strategy.

• How to leverage both business and personal messages most effectively across the different social media outlets
• Why it is important to engage on social media rather than simply post & wait for followers
• How you can gauge what the most effective digital medium is for your message
• How you should be measuring success in your digital marketing efforts

I’ve known and respected Jeff Kleintop, Chief Global Investment Strategist at Charles Schwab & Co, Inc, for a long time. This conversation about what he’s watching in the worldwide financial markets feels extraordinarily relevant in these early days of both the new administration and the vaccine-led recovery.

• Why Jeff thinks we are at the beginning of a new economic cycle in the worldwide markets
• Why Jeff is concerned about the potential of a surprise uptick in interest rates
• How the performance of global markets will coincide with the performance of global economies this year
• How Jeff thinks advisors should be allocating the global portions of their portfolios
• What should advisors be discussing with clients who are close to retirement

Orion Advisor Services CEO, Eric Clarke, and I covered a lot of ground in this conversation. As one of the most innovative leaders in both FinTech and financial services, Eric has tremendous insight into how technology drove our industry in 2020 – “A year of Darwinian evolution…” – and how our landscape has been permanently changed as a result.

• The importance of leading by listening
• What Eric sees as the next phase in the evolution of our industry
• How Orion’s merger with Brinker Capital led to a new mission: “Power The Advisor/Client Journey”
• How the American investor benefitted from the evolution of the financial services industry
• How close are we to “Alexa…” for financial services?

I am proud to share this inspiring conversation with my friend and NFL Hall of Fame quarterback, Fran Tarkenton. His perspective on leadership and the importance of taking your ego out of the equation to become a great leader is something I think everyone will find incredibly valuable.

• How the most important lessons he learned in football helped Fran transition into a wildly successful business career
• The importance of being authentic with both your clients and your team
• How surrounding yourself with the right people lifts the burden of having to be the smartest person in the room
• How the COVID-19 pandemic has led to growth and opportunity
• Fran’s picks for the best player he’s ever played with, as well as the meanest player he’s played against

I really enjoyed this conversation with Elizabeth Nesvold, Managing Director and Head of Asset & Wealth Management Investment Banking at Raymond James, about the raging party that is consolidation / Mergers & Acquisitions (M&A) across our industry. Liz provided some astute insight into this booming landscape, as well as to how financial advisors are turning to M&A as a way to bring the resources they need to continue to grow their business.

• How & why M&A has accelerated this year after an initial slowdown
• How advisors are leveraging M&A to move beyond the “Valley of Death”
• Behind-the-scenes intelligence on valuation pricing and how it works
• What qualities command a premium valuation for an advisory firm, and what can drive down a valuation
• Areas within our industry in which Liz sees potential value at lower multiples