Standard Deviations with Dr. Daniel Crosby

Tune in to hear:- Reese Harper has an advisory business, Dentist Advisors, that is exclusively for dentists. How did he take the first step to say no to everything else and how did choosing such a specific niche serve him well?- How did he land on dentists, in particular, as his niche?- Why do dentists, on average, retire 6 years later than their fellow Americans when they make 4x as much as the average American?- Dentists and Financial Advisors have the highest rates of suicide of any profession. What role does an advisor have in protecting and safeguarding the holistic wellness of their clients?- What is the most common contentious points for couples’ financial discussions?- What is the most unique & valuable element in Reese’s new mobile finance tool, Elements?- How can you use Elements to improve client behavior? www.getelements.comCompliance Code: 2055-OAS-7/20/2021

Tune in to hear:- How does Dr. Cherry implement “The Big 5” personality test in his practice? Does he approach clients with different personality traits in novel ways to better help them problem solve?- How were The Big 5 traits ultimately arrived upon?- How might one shift communication with their client if the client displays high levels of anxiety? Should the actual asset allocation look different for them or is the anxiety simply approached in the coaching process?- How can financial professional be authentic and transparent without making it totally about us and our story?- How does Dr. Cherry use life and money stories to help elicit trauma and what does he do with this information once it’s revealed?- What is “the stages of change” theory?- What is a money trauma that a client might need to admit before moving forward?- What’s the key difference between admitting you have a problem and acknowledging that?https://www.concurrentfp.com/financial-planner-dr-preston-cherryCompliance Code: 1938-OAS-6/30/2021

Tune in to hear:- How did Jeff’s professional path evolve from lawyer, to standup comedian and finally to behavioral science / economics?- What lessons could behavioral science stand to learn from the art of standup comedy?- If two different comedies tell a joke with similar content, the joke might land for one of them while feeling really caustic and tone deaf for the other. What might account for this difference and how can one exude more empathy and authenticity in such a retelling?- What does Jeff mean when he says… “thinking a lot about money would be fine if, by thinking more about it, we were able to make better decisions?”- What is the pain of paying? How do companies wield this against us and how can we take the power back here?- Jeff talks about Ulysses’ contracts in his book. What can we learn from the myth of Ulysses and how can we practically utilize this to make better financial decisions?- Where is applied behavioral finance headed and where does Jeff want to take it at JP Morgan?www.jeffkreisler.comCompliance Code: 1929-OAS-6/29/2021

Tune in to hear:- On a previous podcast, Richard Nisbett expressed that the most central message of psychology is that we have no access to most of what goes on in our heads. What studies are illustrative of this dramatic conclusion he reached?- What are the implications of this stream of thought, particularly in regards to free will and determinism?- In light of this research, are things like introspection valuable or do they simply feel meaningful?- If environment is highly influential in our decision making process, what can we do to create environmental prompts to improve the decisions we make?- How can incentives for driving behavior backfire and why might consensus be a more powerful motivational tool?- How can we consider all sides, to more effectively protect ourselves from confirmation bias, in an age when it’s so easy for really harmful, unvetted ideas to get propagated and shared widely.- What’s a practical example of how one can use formal logic to improve decisions?Web: https://www.amazon.com/gp/product/B00SSAXRCW/ref=dbs_a_def_rwt_bibl_vppi_i1Compliance Code: 1863-OAS-6/18/2021

Tune in to hear:- How did Anthony move from being homeless, and in a great deal of debt, to being one of the nation’s top educators on money matters and part of the Dave Ramsey franchise? What four steps were critical in this journey?- Anthony stresses the importance of intentionality in one’s spiritual journey, network journey, net worth journey and their overall mindset. Are these elements broadly applicable to the general population, or did they simply work for Anthony?- Where does Anthony see the strongest tie between spiritual wealth and material wealth?- How can having a therapist help you be a better investor and further refine a goals-based investment approach?https://www.ramseysolutions.com/anthony-onealCompliance Code: 1836-OAS-6/14/2021

- Three steps to mastering personal finance.- What is the knowledge or education gap in financial literature that Joe Saul-Sehy’s new book ‘Stacked’ fills?- What role might humor play in a successful financial plan?- How can we move people towards financial goals that are more visceral and poignant and away from mimetic, or culturally inherited, goals?- Why is automation such a powerful financial tool and how does Joe recommend people best utilize it?- What advice does John Saul offer on finding a good financial advisor to partner with? What unique considerations might different people have when looking for a financial professional?- How to come up with good interview questions for prospective advisors.https://joesaulsehy.comhttps://www.stackingbenjamins.comCompliance Code: 1823-OAS-6/10/2021

Tune in to hear:- What is Colin’s perspective on the extreme fear and greed that arose throughout the pandemic in 2020? These are constants within the market, but why were they of particular interest in this cycle?- Are investors primed for misbehavior because of what we went through last year?- Learn more about Colin’s new book Fed Up: Success, Excess and Crisis Through the Eyes of a Hedge Fund Macro Trader- Colin believes that both Quantitative Easing and Central Banks have a net negative impact on the global economy. Why does the believe the current policy is failing?- How can investors balance, or keep in tension, a critique of the fed with the reality that the narrative has frequently left people behind who were angry with the fed?- There are lots of smart people that think racking up a national debt is relatively inconsequential, but Colin believes that it matters a great deal. What lead him to this perspective?- How is the fed fueling wealth inequality with their current policies?- What can we, as a nation, do differently to minimize the wealth gap?- How would Colin have approached the pandemic differently, from a fiscal approach, if he was in charge of the fed?- What qualities do great investment thinkers seem to share?Web: www.colinlancaster.meCompliance Code: 1795-OAS-6/4/2021

Tune in to hear:- What might the personality of an ideal hire for a leadership position in asset management look like?- How can one measure things like emotional intelligence and curiosity that can seem kind of ethereal or hard to get your arms around?- Has Michael come across any counterintuitive, or surprising, discoveries in his research as he’s tried to fill talent gaps in the financial services industry?- How does a company best walk the line between having adequate conflict, to fully vet and consider all perspectives, but not such excessive conflict that it spills over into ugliness?- What does the concept of “psychological safety” mean and how can one achieve this perspective throughout their organization?- How do we get beyond just paying lip service to wanting productive conflict in an organization and actually get to a point where we can have these conversations?- What are some common behavioral traps within decision making processes used by asset managers, and how does Michael council people to begin to overcome these?- Is there really something magical about the human touch that is additive to the investment decision making process or can we simply automate these things away?- How might we build out a more modular model that takes the best of quant, analysis and data and the best of human decision making and merges these aspects together?- What has come into focus for Michael since his ALS diagnosis?Books:https://www.amazon.com/Learn-Sustain-Long-Term-Economic-Growth/dp/1944960058https://www.amazon.com/Get-Work-Future-Michael-Falk/dp/1704375827ALS Charities: https://iamals.orghttps://lesturnerals.orgRecent Writing:https://investmentsandwealth.org/getattachment/2166018f-6fbd-4389-ad61-8352e53d7537/IWM20NovDec-EverythingYouNeedToKnowAboutInvesting.pdfhttps://www.cfainstitute.org/research/foundation/2021/capitalism-for-everyoneCompliance Code: 1740-BCI-5/27/2021

Tune in to hear:- Carl Richards speaks about serving real financial advisors. This of course presupposes the existence of fake financial advisors, so what’s the difference between a real financial advisor and a fake financial advisors?- What practical advice can help one avoid a financial advisor that doesn’t have your best interests at heart?- How do we help clients articulate powerful goals that are salient and motivating without failing prey to this trip of false precision?- How do we begin to see ourselves as we truly are, allowing us to become better financial advisors?- We have a tendency as a culture to always move the goalpost on what is enough - what can we do to cultivate a spirit of knowing when we have enough?- How might we look at asset classes like cryptocurrencies and NFTs through a behavioral finance lensWeb: www.thesocietyofadvice.comCompliance Code: 1688-OAS-5/20/2021

Tune in to hear:- Is the classic retirement trope of working hard until your 65 and retiring to a life of leisure sort of an antiquated way of thinking about retirement?- Is the prospect of people having to work later in their life net good or net negative for most individuals?- Research shows that people who are retired, on average, are happier than those who aren’t. However, there’s also an outlier group of retired individuals who are much more depressed than those who continue to work. Is this due to not having enough resources, not being engaged with a community or some mix of the two?- Is it a better approach to work really hard and retire earlier or to give yourself the space and time to explore hobbies alongside work and work later into life?- What are the upsides and downsides of “FIRE” (Financial Independence, Retire Early)?- Social security is the biggest pillar upon which the average person’s retirement plan rests, but we know that social security faces many problems if something isn’t done quickly to fix them. Should we assume that social security might not exist in planning for retirement or how should we think about the longevity of social security?- What actions can we take to increase retirement savings? If money is tight in retirement, what options does one have?- How do we move the needle on the social security problem when no one seems to have the political will to pose a difficult solution?Web: www.jamiehopkins.comCompliance Code: 1589-OAS-5/10/2021

Tune in to hear:- Why might the narrative that “our parents’ generation had it much easier financially than we do now” be incorrect? What assumptions does it make?- When yields on a 50/50 stock and bond portfolio, yields are historically anemic right now. What are investors supposed to do in a time like this and how do we prevent them from just chasing yield and moving up the risk spectrum?- What has Michael’s personal experience with NFTs been like and how does he think about that part of the market?- Is the influx of active investment, particularly with commission free apps like Robinhood, likely to have a net positive or net negative effect on the markets and peoples’ understanding of them?- How can one temper being extremely active online with all the negative things that can come along with this?Web: www.michaelbatnick.comCompliance Code: 1517-OAS-5/4/2021

Tune in to hear:- Why is Adam Smith considered to be the original behavioral economist?- Mike is advocating for mission driven capitalism. How does this contrast with a more classic approach to Capitalism that’s focused on shareholder value?- Why might mission driven corporations outperform the S&P 500? Is there a specific mechanic at play here?- How can consumers and investors separate out true mission driven corporations from those that are merely posturing as mission driven corporations?- How does mission driven capitalism distinguish itself from other contemporary “do good” capitalism like ESG and impact investing?- Does Mike expect mission driven companies to have standard market returns or expect them to outperform?Web: themissioncorps.orgCompliance Code: 1447-OAS-4/28/2021

Tune in to hear:- Why do we often defer our dreams for so long and how might we be more proactive in seeking them out?- Reflecting back on their lives, many people wish they had taken more risks. Why might we see this with such clarity at the end of our lives, while actually living it in the present is so difficult for most of us?- Is “following your dream” good advice for everyone, or do you have to be situated in a certain way to pursue this in a meaningful way? Is this a biased concept that only accounts for those who are already privileged?- Being able to look beyond being burned out seems to be a necessary precursor to dreaming bigger. What manageable steps can we take to overcome burnout?- How can trauma play out intergenerationally?- How might we make trauma work for us instead of against us? What separates those whose traumas become maladaptive from those who use them to their benefit?- How can we think about unlearning bad behaviors?

Dr. Richard Smith believes that risk literacy is essential not only for independent investors; it’s essential for anyone looking to succeed in today’s exploding digital marketplaces. Pulling from his expertise in mathematics and technology, Dr. Smith advises his clients on how to navigate the noise and distractions presented by the media and social platforms, allowing them to direct their attention to the things that matter most in their personal & investment lives. Dr. Smith studied mathematics at UC Berkeley and earned a PhD in systems science from the Watson School of Engineering at SUNY. He serves as chairman of the board and executive director of the Foundation for the Study of Cycles and is a regular columnist and guest on outlets such as CNN, BBC News, MarketWatch, Forbes and NASDAQ.com.Tune in to hear:- What is systems science and how might it be applied in a financial context?- As a society, has our thinking become more systemic or more siloed in the past 20 years?- Productivity is highly correlated with humane structures in the workplace - why do we seem to be so averse to this idea and see humanity and productivity as opposite sides of a spectrum?- How is global uncertainty, and our attitudes towards uncertainty, shaping the markets today?- Not needing the money in your investment portfolio for life expenses greatly improves investment success. How can we make this truth pragmatic and attainable for people who do need the money?- At what point do we run with the herd temporarily, even if we disagree in some respects?- What can we learn from market cycles?- Get a sneak peak into Dr. Smith’s upcoming book ‘The Risk Manifesto.’Web: www.drrichardsmith.comCompliance Code: 1237-OAS-04/12/2021

Tune in to hear:- Why does Tra’s new book on entrepreneurship, Boss Brain, start with a focus on evolutionary psychology and brain science?- Does our wiring lead to a certain determinism or can we embolden ourselves by understanding our inner workings?- What are some cases where business owners confuse predictability with control?- Currently, 93% of people are working for the other 7% of people - Tra predicts that, unless swift action is taken, 99% of us will work for the other 1%. Why is this problematic and what can we do to avert this?- The baseline of comfort and meeting ones basic needs is easier to achieve, in many ways, than ever. If this is the case, why are we more risk averse than ever?- As an entrepreneur, how do you know when to listen to the naysayers in your life, as people who want to protect you and watch out for your wellbeing, and how do you know when to ignore them?- What are some of the societal wide benefits of increased entrepreneurship?- Would an increase in entrepreneurship help or hinder narrowing the wealth gap in America?- For people whose community, friends & family don’t have the resources to give their business its initial leg up, where should they seek out support and funding?- How can we, both as individuals and a society, encourage entrepreneurship more?Web: www.trawilliams.comCompliance Code: 0812-OAS-03/12/2021

This week, Dr. Crosby is joined by fellow behavioral finance geek Neil Bage. Neil is passionate about helping people make safe and informed choices and is a specialist on behavioral drivers of financial decisions. In this episode, we turn the tables and Neil interviews Daniel in celebration of the 2nd Edition release of Dr. Crosby's book 'The Laws of Wealth.' Tune in to hear: How does one go about controlling the controllable in their personal and financial life and what does one do if something that they have no control over matters a great deal to them? How do financial advisors go about laying the right foundations for dealing with the emotional aspects their clients will inevitably encounter? How do people maintain their composure and not get overly excited by, or attached to, a particular investment opportunity. Does this require a kind of courage? What proactive steps can advisors take to factor into the human and behavioral element of investment advice? Why might your average US citizen believe that investing in real estate is more fruitful than investing in the stock market? Web: www.neilbage.com Twitter: @NeilBage Compliance Code: 1002-OAS-03/24/2021

JC Parets launched the All Star Charts Research Platform in September of 2014 to provide technical analysis commentary across all asset classes to investors worldwide. He also has his own podcast, Technical Analysis Radio, which helps others grow their knowledge of technical analysis. JC grew up in Miami, FL and is a big sports fan. When he’s not looking through charts, he’s probably cooking, eating or watching a game. JC is also a certified sommelier and sake expert. Tune in to hear: What’s case can be made for technical analysts being the ultimate behavioral investors? Why is it that price action is the first and final word for technical analysts and how can they be so confident in purchases when they know nothing about their fundamentals, business or commodity? How do you manage risk with technical analysis and how do you differentiate between a daily dip and a true sell signal? What is something that JC was wrong about and how did he come to realize this and change his mind? How can being “agnostic” about a particular stock or asset class be in your favor? What is a widely ignored asset class that JC is excited about? Web: www.allstarcharts.com Twitter: @allstarcharts Compliance Code: 0989-OAS-03/24/2021

Johnny Sandquist is the Founder & CEO of Three Crowns Marketing. He's focused on supporting RIA firms and advisor technology companies for over a decade now. He has a wife and three kids and is a huge Star Wars geek. Tune in to hear: Does Johnny advise his marketing clients to avoid or pursue engaging their target market by taking a stance on divisive, political issues? If so, what might be the most prudent way to approach this? In such a painful and tumultuous time, like Coronavirus, how can you keep your business top of mind and promote yourself while staying sensitive to the fact that you might not be offering an essential service? The Oatly Superbowl commercial seemed to be the most universally hated ad that night. Is all of this attention potentially productive for them, or is will it potentially come back to bite them? What are some common themes among the most effective advertisement campaigns? How do we balance the, seemingly, conflicting values of self-care, “being a brand” and being authentic? What might be the most overhyped trend in wealth tech and what is one that has a lot of potential and should get more attention? Web: www.threecrownsmarketing.com Twitter: @JohnEllert Compliance Code: 0988-OAS-03/24/2021

Lindsey Bell is Ally Invest’s Chief Investment Strategist, responsible for shaping the company’s point of view on investing and the global markets. She is also President of Ally Invest Advisors, responsible for its robo advisory offerings. Lindsey has a broad background in finance, with experience on the buy-side and sell-side, in research, and in investment banking, and has held roles at JPMorgan, Deutsche Bank, Jefferies, and CFRA Research. Lindsey holds a passion for teaching individuals how to become successful long-term investors. She is a contributor at CNBC, and frequently shares her insights with various publications including the Wall Street Journal, Barron’s, MarketWatch, Business Insider, etc. She also serves on the board of Better Investing, a non-profit organization focused on investment education. Callie Cox is a senior investment strategist for Ally Invest. In her role, she helps educate Ally Invest customers about the financial markets through engaging content and strategic initiatives. Callie has worked in financial research for her entire career, with stints at LPL Research, TABB Group and Bloomberg. Her work has been featured in Bloomberg, the Financial Times, Yahoo Finance, and Barron’s (among other publications). You can also find her on Twitter at @callieabost. Tune in to hear: Are investors primed for both fear and greed based on their experiences with crises such as the tech bubble, great financial crisis and Coronavirus? Some think we are about to enter into a “second Roaring Twenties.” What do Lindsey and Callie make of this thesis? Was the collectivist approach of Wallstreet Bets driven by a combination of loneliness and interconnectedness on the internet, or was it potentially just a fad? Are people really learning about markets and getting engaged about markets in a meaningful, discerning way on Wallstreet Bets? By most estimates, institutional money accounts for 70-75% of the volume in the markets. Are we overstating the impact of retail investors? What are the mechanics of a short squeeze? What are some of the potential use cases of options trading and what are some of the dangers associated with it? Whether we are in a bubble or not, prices are quite high across the board. How might we position ourselves for success in the next decade? Web: www.ally.com Twitter: @justLBell & @callieabost Compliance Code: 0943-OAS-03/19/2021

In 2010, Stacy Havener founded Havener Capital Partners, an independent third party marketing firm, to provide sales and marketing services to a select group of high quality managers. Well recognized for her expertise in the Registered Investment Advisor and wealth management channel, Stacy has significant experience in product development as well as raising assets through successful distribution strategies. Previously, Stacy was a co-founder of third party marketing firm Candlewood Advisory Partners and worked with institutional marketing firm Arrow Partners. Her career in third party marketing began in 2000 when she joined Sincere & Co., LLC as the first employee. Prior to her 7 years at Sincere, she served as Marketing Manager for Grand Prix Funds (Wilton, CT). In her investment sales career, Stacy has raised over $5 billion dollars. Active in the industry, Stacy is currently on the board of the Third Party Marketers Association (www.3pm.org) after serving as the association President for 6 years. She is also the former chairperson of the Financial Planning Association’s Corporate Resource Counsel. Stacy holds her Series 6, 7, 24, 63, 66, and 79 licenses and is a registered representative of Compass Securities Corporation. She received her Bachelor of Arts in English Literature from Western Connecticut State University, graduating summa cum laude in 1998. Stacy was named to both the NCAA and the GTE/CoSida Academic All-American team for Division III Women’s Soccer and subsequently nominated for NCAA Woman of the Year in 1998. Based in Newport, RI, Stacy balances her career with her love of travel, passion for cooking, and an addiction to crossword puzzles. Tune in to hear: What role does well-crafted storytelling play in making an effective sale? Many sales organizations focus around measurable, quantative goals (e.g. how many calls did you make). What might they gain from focusing more on psychological variables, such as “behavioral IQ?” How do Stacy’s conversations differ from someone further down the adoption bell curve and how does she go about personalizing her communications? Which of the “Big 5” personality traits might early adopters share? How is owning up to your quirks a powerful approach, and why are we so scared to do this in a sales context?

Nathan Astle is the founder of Relational Money LLC where he offers training to financial advisors and money coaches on basic financial therapy skills. This will help them be better at their jobs, retain more clients, and improve the quality of care. Tune in to hear: What are some of the key differences and similarities between financial therapy, clinical psychology and behavioral finance? While we fixate on money and wealth in popular culture and in the media, Americans are also really reluctant to be direct about their personal financial matters. What accounts for this juxtaposition of obsession and secrecy in American financial matters? When considering happiness, we often ascribe money with significance above and beyond the elements of personal success. Why is this the case? What are some common money themes, or “scripts,” that one might find themselves within? If someone identifies a money script, that’s negatively impacting their personal and financial wellbeing, how difficult is it for them to change and how does one go about rewriting a money script that has become engrained? When should one enlist the help of a financial therapist instead of someone with social work or psychology background? Are soft skills more important now than ever before for financial professionals, or is the industry, as a whole, just pulling its head out of the sand? What soft skills are often underdeveloped in the average financial advisor? How do advisors empathize adequately, but not so fully that they are taking it home with them? There’s such a large chasm between knowing the right thing to do and actually doing it.

Tim Holland is the Chief Investment Officer at Orion Advisor Solutions, where he oversees the investment management and strategies for Orion Portfolio Solutions and Brinker Capital Investments. Prior to his current role, Tim was the Global Investment Strategist at Brinker Capital where he worked with senior members of the investment team to develop and deliver Brinker Capital’s macroeconomic and capital markets outlook, including the company’s investment views and portfolio positioning. Tim has over 20 years of investment experience. Prior to joining Brinker Capital, Tim was a Portfolio Manager at TAMRO Capital Partners, where he directed overall portfolio construction on two long-only, US equity strategies based on fundamental company and industry analysis and understanding the potential impact of economic, industry, and political trends on portfolio holdings.Tim received his Bachelor of Arts in political science from Drew University. He holds a FINRA Series 65 designation and is a CFA® charterholder. Tim’s investment commentary can be found in various business media, including CNBC, Fox Business, Bloomberg TV, Bloomberg Radio, The Wall Street Journal, Investor’s Business Daily, and Financial Times. Tune in to hear: Though market performance and the economy aren’t one in the same, and the market is forward looking in nature, it is still surprising how much it rallied in 2020 in spite of the year’s struggles. What sense can we make of this? The Fed and The Federal Government’s response to the pandemic may account for why the market is in the position it is. What do you say to critics of the government’s enormous response? What are Tim’s expectations of the market moving into 2021? What is Tim’s take on emerging markets and international stocks in a post-covid world? Bonds and fixed income used to act as a ballast in one’s portfolio. With their rates so low, and even negative at times, where can we look for a ballast in a portfolio now? What is some behavioral advice for investors living through this taxing moment? What practical steps can they take to ensure they don’t sabotage their investments? Web: blog.brinkercapital.com Compliance code: 0691-OAS-02/26/2021

Rusty Vanneman serves as the Chief Investment Strategist for Orion Advisor Solutions, where he is responsible for overseeing the investment strategies at Orion Portfolio Solutions (turnkey asset management program) and at Orion Advisor Technology (financial technology). Previously, Rusty was the Chief Investment Officer for Orion Advisor Solutions and prior to that was the President and Chief Investment Officer of CLS Investments. Before joining Orion in 2012, Rusty served as the Chief Investment Officer and Managing Director for a multi-billion RIA in the greater Boston area. His 11-year tenure at the RIA included a five-year span when the firm was owned by ETRADE Financial where he also served as the Senior Market Strategist for ETRADE Capital. Prior, Rusty was a Senior Analyst at Fidelity Management and Research in Boston. Rusty received his Bachelor of Science in Management from Babson College in Wellesley, Massachusetts where he graduated with high distinction. He holds the Chartered Financial Analyst (CFA®) designation and is a member of the CFA Institute. He is also a Chartered Market Technician® (CMT) and is a member of the Market Technician’s Association (MTA). Additionally, Rusty authored the book “Higher Calling: A Guide to Helping Investors Achieve Their Goals,” and was named one of the Top 10 Portfolio Managers to Watch by Money Management Executive in 2017.* Rusty is also a host of Orion’s The Weighing Machine. https://open.spotify.com/show/7k80G94zq4W2fiAUmsuKAq *RUSTY VANNEMAN MONEY MANAGEMENT EXECUTIVE AWARD Chief Investment Strategist of Orion Advisor Solutions, Rusty Vanneman, CFA, CMT, was selected as a “Top 10 Fund Managers to Watch” in 2017 by Money Management Executive, while serving as Chief Investment Officer of CLS Investments (CLS), now a division of Brinker Capital Investments, which is a subsidiary of Orion Advisor Solutions. Money Management Executive is an unbiased, third-party publication covering the asset management industry. Money Management Executive chose the list of managers to watch by screening Morningstar data from funds with a single manager, ranked as having the best three-year annualized returns in their respective categories. The list of managers was published March 27, 2017. Money Management Executive is not affiliated with CLS. Ratings and awards may not be representative of any one client’s experience and are not indicative of CLS’s future performance. The CFA® is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. To learn more about the CFA charter, visit www.cfainstitute.org. The CMT Program demonstrates mastery of a core body of knowledge of investment risk in portfolio management. The Chartered Market Technician® (CMT) designation marks the highest education within the discipline and is the preeminent designation for practitioners of technical analysis worldwide. To learn more about the CMT, visit https://cmtassociation.org/. Tune in to hear: What does the collective mindset of investors look like coming out of such a difficult year? In a time with elevated stock valuations and potentially depressed fixed income returns, should we get a little weird with our asset allocation or stick to a traditional 60/40 portfolio structure? What are some takeaways from Rusty’s investing experience in 2020? What might the future of asset management look like in a landscape where markets are shifting so quickly? How is the process of selecting a good investment akin to the process of finding a good life partner and how is it different? If Orion was a band, what band would they be? Web: https://open.spotify.com/show/7k80G94zq4W2fiAUmsuKAq Twitter: @RustyVanneman Compliance code: 0708-OAS-3/1/2021

Phil is widely regarded as a thought leader in the asset management industry. As Founder & CEO of Exponential ETFs Phil raised $1.8 Billion in AUM in just over three years after launching the company from scratch. As Managing Director at NYSE Phil exceeded 90% market share of ETF listings. Phil is the author of two patents on innovative ETF structures, has led market structure enhancements that have become industry standard and pioneered new investment strategies into the market. Phil is featured regularly on top-tier media outlets such as the Wall Street Journal, Bloomberg, CNBC, Financial Times and Reuters. Phil holds the Chartered Alternative Investment Analyst (CAIA) designation and is the host of the ETF Experience and the Phil Bak Podcast. Tune in to hear: Why might the market be rallying in spite of the Coronavirus being worse than ever, unemployment rates at an all time high and political divisiveness is explosive? When is the right time to “check the math” on how enduring a factor is or something like discounted cash flows or fundamental analysis? How do we know when the world may have shifted so fundamentally, that certain market principles are no longer viable? The dangers of tying yourself entirely to quantitative and empirical methods of investing and what role “faith” might play in a successful investment strategy What are some potentially immutable principles of good investing? How humility plays a key role in a sound investment plan, regardless of your preferred approach to investing What are some potential upsides to reverse weighted ETFs? Phil started an ETF shop that he has since exited - what are some of the lessons he learned / takeaways and why does he consider it both a success and a failure? Web: www.signaladvisors.com Twitter: @philbak1 Compliance code: 0637-OAS-2/23/2021

An economist by trade, Hoda manages her company’s successful flagship portfolio. She also applies behavioral economics, data journalism and storytelling to their product development. Before starting her own company, Hoda worked as a strategist at Sony, Aimia and Symantec. Outside of the world of work, Hoda is a certified wine specialist who loves Rottweilers. Tune in to hear: What was Hoda’s “aha” moment that lead her to become a Fintech CEO? When did Hoda realize that awareness of behavioral bias is at the heart of sound investment strategies? What are some benefits to keeping an investment journal? If we’re playing devil’s advocate - what might a Fintech, that encouraged the worst possible practices, look like? As technologists, what responsibility do we have to maximize shareholder value vs. maximize value for the larger populace? How can technology be used to help us overcome our worst behavioral impulses? In investment, one can make a terrible decision, based on the information available and probabilities, and still come out on top. How can we entangle, or account for, those who make good decisions and get bad results and those who make bad decisions and get good results? Many active DIY traders show little aptitude in the market and often shoot themselves in the foot. What hope do DIY traders have and why did Hoda decide to focus on this niche within the greater market? Web: stockcard.io Compliance code: 0639-OAT-02/23/2021

Jean-Michel Pailhon is Vice-president at Ledger, the leading company in security solutions for crypto-assets, where he’s heading the company’s product initiatives. He joined Ledger in early 2017 when the company had 20 employees initially leading the finance, strategy and corporate development initiatives. Before that, Jean-Michel spent 15+ years in the financial industry, working for Euronext and then the New York Stock Exchange, where he held various management positions covering finance, strategy, fund management, M&A and IPO. Jean-Michel is a founding member of the French Fintech Startups Association (https://francefintech.org/en/) and is a lecturer in finance and strategy at ESSEC Business School and Pantheon Assas University (France). Tune in to hear: Why compelling use cases might be more critical than the price action for the healthy growth, and widespread adoption, of bitcoin and other crypto currencies 5 to 10 years from now might volatility in Bitcoin look more like US equities or is it more likely to remain a volatile asset throughout its lifetime? What does Jean-Michel see as the primary use case for Bitcoin? Bitcoin’s slow processing speed is one of its main drawbacks. Might there be something to remedy this, or will Bitcoin always be slow? Bitcoin is the most famous and popular cryptocurrency - is it likely that we will improve upon its design, ultimately being replaced, or is it likely to remain on top in a decade? What are some of the biggest looming threats to the growth of Bitcoin? Are regulatory risks among them? How interconnected are the fates of blockchain technology more broadly and Bitcoin and can one succeed without the other? What is DeFi (Decentralized Finance) and how can it add value? Compliance code: 0622-OAS-2/22/2021

Eric Clarke serves as CEO for Orion Advisor Solutions (Orion), helping advisory professionals operationalize their vision for success by delivering cutting-edge financial technology and investment management solutions through the organization’s brand entities: Orion Advisor Tech, Orion Portfolio Solutions, CLS Investments and Brinker Capital Investments. Prior to his current role, Eric was the founding CEO of Orion Advisor Tech, which he continues to lead, and previously served as COO for CLS Investments. As an industry-recognized though leader and advocate for advisory professionals, Eric has written numerous articles that have appeared in InvestmentsNews and The Journal of Financial Planning. Eric has received numerous industry awards including ThinkAdvisor’s IA25 in 2012 and 2019, and InvestmentNews’ Icon & Innovators Award in 2019. Eric earned his Bachelor of Science in Accounting from Brigham Young University and Master of Business Administration from the University of Utah. As an avid runner, Eric uses the solitude of his runs to think through business strategies and plan new scenarios to help advisors increase functional efficiencies and improve their businesses. Tune in to hear: How Orion grew from a family business in middle America to a huge player in the Fintech space Is asset management a largely solved problem, and where might future innovations take place in the world of asset management? What unique role will the social sciences play in informing investment strategies? What might be the role of advisors in the coming years if investment management is a solved, or at least simplified, problem? In a company with so many moving parts, how does Eric decide where to focus spending to grow? What is an underdog trend in Fintech with lots of potential? Do fintech companies have an ethical obligation to focus on UI that lead to prudent client outcomes? How can CEOs create a culture and maintain both cohesion and influence in the current work from home reality? Web: www.orion.com Compliance code: 0613-OAS-2/22/2021

Tune in to hear:What are some of the advantages of being a woman that make them uniquely suited to financial advising?How might some of women’s strengths, when overextended, become weaknesses or impediments to investing?In spite of women’s outperformance, surveys show that the general public believes men are better money managers. How can the financial industry begin to remedy this misunderstanding?Women, on average, are less confident in their ability to manage money than men. How can we narrow this confidence gap while still retaining women’s aptitude for care and research in investing?How can the financial services industry better meet the unique needs of women, both as investors and as clients?www.westpacwealth.com

Tune in to hear:How to keep your clients grounded in the present while making space for dreaming about future possibilities?Some takeaways from someone who grew up with conflicting money scripts / parental examplesWays we can become self-aware of detrimental financial habits that we take for grantedShould financial professionals be candid about their personal history and relationship to finance or might this hinder their ability to serve their clients’ interests?Are financial professionals trending towards a more holistic, personalized approach to wellness?Ways in which financial professionals can compete with machine learning and AIwww.chaulai.com

Samantha Russell is the Chief Marketing & Business Development Officer at Twenty Over Ten. Utilizing her background in Public Relations, Marketing and Client Relations, Sam focuses on helping new clients understand the value of their online presence and connecting them with the marketing tools and digital solutions they need to effectively manage their brand. Samantha was featured on Wealth Management’s “10 to Watch” and Investment News “40 Under 40” 2020 lists. Apart from her job, Sam enjoys cooking, running, hosting dinner parties and keeping up with her favorite podcasts - This American Life, Radiolab and Serial. Tune in to hear: Do marketers have an ethical obligation to use their powers for good? What is social marketing and what are some ways it can educate + help create a better world? What are some of the “pillars of success” shared by many timeless marketing campaigns? How true is the contemporary adage that “everyone is a brand?” If this holds true, how do we balance this reality with authenticity and candor? Are brands framing themselves more like personalities or trying to humanize themselves? How can brands navigate the thin line between being topical + seizing a moment vs. abusing their influence and taking advantage of a bad situation? What are the upsides and drawbacks to brands taking a particular political stance? www.twitter.com/samanthatwenty www.linkedin.com/in/samanthacrussell blog.twentyoverten.com

Tune in to hear:What are some of the unique fiscal or emotional challenges immigrants sometimes face?Nick’s perspective, as an immigrant, on “The American Dream”Why immigrants are often more inclined to entrepreneurial ventures than people born in the USAre there structural or systemic reasons why immigrants are often kept from more traditional forms of employment, choosing instead to forge their own path?How financial professionals can help clients balance financial best practices with their specific cultural sensitivitiesWhat are some unique challenges immigrant families face in becoming financially independent?What habits does Nick see in his immigrant clients that might strengthen the broader American money culture?Web: www.unitedwealthllc.com

Maddie has a Masters in Behavioral Science from the London School of Economics. She is the co-founder and director of Salient, which is a behavioral science consultancy, and she is head of membership at the newly formed Global Association of Applied Behavioral Scientists. Maddie also enjoys teaching yoga whenever she can. Tune in to hear: Western philosophy tends to think of the self as static and immutable, while Eastern philosophy thinks about the self in more contextual ways. Which conception of self is most conducive to self-growth or are there positive takeaways from both perspectives? In existential philosophy there is a thought that existence precedes essence. In practice, does it seem like we unearth a “true” self that has always been there, or do we shape and define our selves as we move through live? How do we scrape away the behavioral biases that keep us from seeing who we really are? Behavioral biases do serve a positive purpose when they aren’t over extended; they protect our ego and help us be self-confident. As we start to chip away at these, to get a more honest picture of our self, how do we push through the discomfort and desire to retreat from the uncomfortable truths we discover? What roles do others play in the road to self-discovery and what are some hallmark characteristics of someone in one’s life that can help them better understand themselves? Ideally one’s personality would inform the type of work they do, but is this a privilege that few can enjoy or is this in grasp for most people? How can one balance a desire to make systemic, global change and the equally important role of making micro resolutions that help those who are geographically and emotionally closest? #Maddie Quinlan #Existentialism #Existential Philosophy #Logical Fallacy #Logical Fallacies #Biases #Availability Bias #Self #The Self #Cognitive Biases Twitter: @maddiequinlan Web: www.thisissalient.com

Maxine Gray is the Business Strategy Development and Implementation Manager at Investec Wealth, South Africa. She is an ambassador for the United Nations Global Compact of young SDG innovators. Maxine has also been a board member of imagine.nation (NPO) since 2015, and she is the founder of Winter Warmer drive (2010-2020), helping over 20,000 people keep warm during winter. Tune in to hear: What are the UN’s sustainable development goals and how do they relate to investing and business? How did the UN settle on goals which were unanimously approved by all member nations? There are, of course, ethical and personal reasons to run a company that is generous and environmentally sustainable, but are there financially-motivated reasons as well? What are the differences between shareholder capitalism and stakeholder capitalism and how might these approaches coexist? Why environmental concerns are finally being considered legitimate risks to business How the “sdgs” are interconnected and why focusing on one will improve others LinkedIn: https://www.linkedin.com/in/maxine-gray-18924367/?originalSubdomain=za

Jess Von Bank (also known as JVB) is the head of marketing at Leapgen and the founder of the global world of work community Now of Work. JVB is proficient with, and passionate about, HR tech and connecting talent to opportunity. She lives in Minneapolis, MN with her three daughters and enjoys obstacle races and dark chocolate. Tune in to hear: What are potential long-term changes to the world of work as a result of the massive spike in unemployment? How freelance and contract work can be mutually beneficial for organizations and individuals, allowing them to stay nimble, in a volatile economy How we can rethink the compensation of contract workers to make it more personal, give them more financial security and to maintain a competitive edge with traditional employment opportunities What’s a concrete example of a company that has implemented a thoughtful, more personalized approach to compensation and benefits for their contract workers? What are potential forms of compensation that focus on humanistic, wellness-oriented concerns over fiscal concerns? Some practical tips for those looking for employment in a time when so many people are unemployed Why employers need to look at character and capabilities over hard, measurable experience when hiring new talent Ways those who have stayed employed can act as a bridge and advocate for friends and loved ones looking for work Some of the pros and cons of the work from home reality we are living in Web: https://www.nowofwork.com Twitter: @jessvonbank

Roger is the host of the Retirement Answer Man podcast and Roger That! YouTube series where he helps hundreds of clients secure their ideal retirements. He has worked as a CFP for more than 25 years and is passionate about making sure people are prepared for retirement while living their best lives along the way. He authored the book Rock Retirement: A Simple Guide to Help You Take Back Control and Be More Optimistic About the Future, and he is an instructor for the CFP program at The University of Texas Arlington. Roger enjoys spending time with his family, mountain biking, walking his Great Dane and playing board games. Tune in to hear: How to apply “Agile methodology” from software development to the financial services industry How to get people to accept uncertainty when we are hard-wired to hate it If representatives should play a role in clarifying clients' true values, motivations and goals How prioritization can really strengthen a financial plan and the client's ability to stay on track with their financial goals How the average person can make their financial life more resilient to unexpected circumstances One of the biggest retirement mistakes most people make Web - www.rogerwhitney.com

Tune in to hear:Why is it potential a mistake for small business owners to count on monetizing their business at a later date?How to create cashflows today for your small business rather than relying on a future exitHow does one get their clients to consider potential negative events when it’s so hard to swallow that these could be on the horizon?Why it’s prudent for business owners to consider their exit strategy from day 1 when starting a businessWhat qualities do financial professionals share with caretakers?

In her role as the Director of Innovation at TD Ameritrade Institutional, Dani oversees the development of advanced investment management and technology tools designed to help independent registered investment advisors compete and thrive in a world of accelerating change. Dani is also responsible for implementing voice-first capabilities at TD Ameritrade, which will employ conversational AI that can communicate with advisors. Dani joined TD Ameritrade in 2012 and puts more than 15 years of wealth management knowledge to work. Dani was recently named one of the top 16 Women in Wealthtech. She loves to talk about big data, finserv start-ups, artificial intelligence, CrossFit and basketball. Tune in to hear: What the top 3 emerging trends in fintech might look like in the coming years How technology can augment and enrich communication with a client What roles voice might play in fintech going forward Why direct indexing can be thought of as an emerging technology What are some of the main criticisms of direct indexing and are these valid points? What was a fintech trend that was predicted in the past that never came to fruition? What steps can be taken to ensure that AI doesn’t inherit our biases Twitter - https://twitter.com/DaniFava_TDA

Dr. Joy Lere is a psychologist and consultant who practices where Freud meets finance. She works with foot planted in the field of psychology and the other waltzing on Wall Street. She has previously served as an Associate Clinical Professor of Clinical Psychology at George Washington University and has held clinical and research positions at Children's National Medical Center, Penn Medicine Princeton Health, and the Department of Defense. Website: www.joylere.com LinkedIn: www.linkedin.com/in/joy-lere-psy-d Twitter: @joylerepsydIG Email: [email protected] Tune in to hear: Why someone with a history of anxiety may be better equipped to work through the heightened anxiety and sea change coronavirus created in our personal lives Coronavirus has prompted many of us to take stock of our lives and consider our priorities. Will the saliency of these revelations fade quickly? If so, what steps can one take to create positive, lasting change in their life? What factors, other than screen time, greatly effect sleep hygiene? Ways to maintain positive interpersonal relationships while in quarantine How to mitigate feelings of loneliness in a time where connection is limited What does true self-care look like and how does our culture misperceive this? www.joylere.com

Phil Pearlman is the Chief Community Officer at Stocktwits, the world’s largest community of investors and traders. Phil previously worked as the Director of Marketing at Bank OZK and as the Interactive Editor at Yahoo Finance. On his blog Eight Fat Swine, Phil looks at questions about behavior and irrationality and seeks out solutions that foster lasting, and adaptive, change. Phil is interested in the psychology of investor behavior, UI and the development of online communities. He has a doctorate in clinical psychology from Argosy University. Phil lives with his wife and two boys in Montebello, New York. Tune in to hear: What different perspectives do clinical and social psychologists lend to understanding the market? What parallels and contrasts can be made between irrationality in the marketplace and clinical mental illness? Is a comprehensive theory of investor behavior a possibility? Can we hope for predictive power from a behavioral finance theory of behavior? Twitter - www.twitter.com/ppearlman

Larry Swedroe is the Chief Research Officer at Buckingham Strategic Wealth. He is a pioneer within evidence-based investing that focuses on a scientific approach to investment. He is the author of seven books, including The Only Guide to a Winning Investment Strategy You’ll Ever Need, and the co-author of eight other investment books. At Buckingham, Larry synthesizes peer-reviewed financial journals to come up with custom investment strategies for the firm. He’s made appearances on NBC, CNBC, CNN and Bloomberg Personal Finance and is a regular contributor to Advisor Perspectives and ETF.com. He holds an MBA in finance and investment from NYU. Tune in to hear: Why money might not be the most important factor in a fulfilling retirement How you can further elucidate your non-fiscal values and goals in retirement What are the roles of bonds in a low yield world? Why you shouldn’t think of dividends as income How can pre-retirees prepare for the rapid decline in Social Security funding? What can practical steps can one take to account for extended life expectancies? What are some unique considerations when face in preparing for retirement? Twitter - www.twitter.com/larryswedroe

Tune in to hear: Ways investors can confront their fear of loss aversion when this fear holds them back How financial professionals can have meaningful conversations with their clients about times of great market uncertainty and volatility, like what we are seeing as a result of coronavirus Is there a such thing as too much communication with clients during times of uncertainty and unrest? Coronavirus has allowed many people extra time to take stock of their lives and priorities - will this “great pause” shift the way our culture views money? What role can technology play in mitigating loss and helping clients and advisors in a time like this? Where investors should draw the line between what information is beneficial and what is extraneous, or harmful, in a time with so much data Neil Bage: Neil Bage is the co-founder of the award winning fintech Be-IQ. He is passionate about helping people make safe and informed choices and is a specialist on behavioral drivers of financial decisions. Neil is also the host of the Bitesize Behaviour Podcast. Brian Portnoy: Brian Portnoy is an expert at simplifying the complex world of money. In his two books, The Investor's Paradox and The Geometry of Wealth, he tackles the challenges of not only making better investment decisions but also how money figures in to a joyful life. He is currently the Director of Investment Education at Virtus Investment Partners and has spent the last 25 years as educator, investor, and strategist. He holds a doctorate from the University of Chicago and currently lives on the north side of Chicago with his wife and three children.

Tune in to hear:How do various cultures differ on their views of wealth and propensity to openly discuss financial matters?What are some of the unique financial concerns and strengths faced by immigrant families?Financial preparation takeaways from coronavirus and other disruptive, unexpected events.For many first generation families, owning property is a sign of financial success and a big priority - what is the genesis of this belief, and how does one counsel their clients to take a more diversified approach?What practices could American money culture adopt from immigrant cultures to strengthen our approach to investment and savings?Web - www.opus-pc.comLinkedIn -https://www.linkedin.com/in/iv%C3%A1n-watanabe-2185a49/

Justin Castelli is a financial advisor and the founder of RLS Wealth Management. RLSWM was founded in 2015 with the belief that independent, unbiased financial planning and investment management should be available to everyone looking for it. In addition to working with clients regardless of their asset level or income, Justin runs the financial planning blog ‘All About Your Benjamins.’ He loves spending quality time with his family and listening to hip-hop. Tune in to hear: What does authenticity look like in a brand and in personal life? How to maintain a balance between personal and professional content in branding How authenticity effects likability How to maintain a characteristic “thing” or focus without it becoming a shtick What elements make up a good online community and what elements can derail it? Ways to balance an organic, grassroots approach to business while remaining solvent Web - www.justincastelli.io

Tune in to hear:What impact from coronavirus is Ashvin seeing on his clients?Which workforce sectors are getting hardest hit, so far, by Covid-19?Potential approaches financial professionals can take when there are unprecedented levels of uncertaintyWhat the concept of “bucketing” means within a financial plan and how this can encourage positive investment behaviorHow to counsel a client set on sending money home to family abroad without having their own stable financial houseWhile every person’s financial situation is unique, how in general do the financial concerns of a first generation American differ from say, a fourth generation American?What are some unique financial planning considerations for clients on a work visa?Follow up with Ashvin: https://www.ashvinchheda.com

Dr. Joy Lere is a psychologist with a practice focused on the merger of money and mindset. She has worked internationally with driven, achievement-oriented professionals who are motivated to reach the next level in their careers and finances. Tune in to hear: What is “an existential boundary experience?” How we can hold on to, and harness, the clarity that moments of hardship and grief can afford us How saying “no” more often can help you lead your best life What to consider when saying “no” or “yes” at crossroads in your life What is ‘imposter syndrome?’ How to overcome imposter syndrome Web - www.joylere.com

Kyle specializes in connecting the dots between the future of technology and finance, building strategic relationships and connecting people. He’s currently working with SS & C Advent and is focused on shaping the Black Diamond Wealth Platform for large financial service firms. Kyle lives in Georgia with his wife and 4 children and he’s passionate about golf, craft coffee, southern cooking, the ATL falcons and charitable works. Tune in to hear: What we can learn from financial failures Why a fintech revolution/upheaval likely won’t replace the role of financial professionals Why a “one click” approach modeled on tech giants like Amazon, Netflix and Uber may not be suitable for behavior-based financial technologies How financial professionals could become even more crucial l in a world where trades happen with increased ease and convenience How to start a conversation around charitable giving with your clients Why you shouldn’t be afraid to humble brag Twitter: KyleVanPelt

Lisa Brenneman is the Behavioral Finance and Strategic Innovation leader at TD Wealth. She created the TD Wealth Personality Assessment Tool using the Five Factor Model of Personality, enabling clients and advisors to identify their financial and investing blind spots. Tune in to hear: What are the “Big 5” measures of personality? What lessons can financial advisors learn from the Big 5 personality elements? How openness to experience impacts one’s financial decision-making How gender plays into potential biological markers of financial success How to think about extroversion in financial terms How advisors should think about their clients inclination towards agreeableness twitter - @LBrenneman_TD

Jack Forehand is a partner at Validea Capital and is responsible for the firm's overall operations and portfolio management. Working in conjunction with founder John Reese, Jack led the development and optimization of Validea Capital's quantitative investment models. He is also the co-author of The Guru Investor: How to Beat the Market Using History's Best Investment Strategies. Jack graduated from the honors program of the University of Connecticut with a B.A. in Economics and is a CFA charterholder. Prior to founding Validea Capital, Jack spent five years developing quantitative models for an Internet research company. He also worked as a controller for a small company and an analyst for a Big Five accounting firm. Jack co-founded Validea Capital in 2004. Tune in to hear: if the market is truly unsolvable if trying to solve the market is actually detrimental to performance how big data could effect value stocks why value investing is a bet against technology Web - www.validea.com Twitter - @practicalquant

Paul Hebert is the Vice President of Individual Performance Strategy at Creative Group, and is widely considered an expert on motivation and incentives focused on influencing behaviors that drive business results through employees, channel partners and consumers. Using tested behavioral economic and motivational ideas he has driven engagement programs at Michelin, Chrysler Service and Parts, Toyota Financial Services, AT & T, Goodyear and a variety of other Fortune 1000 companies. Tune in to hear: why we are built to avoid numbers and hate uncertainty how uncertainty impacts employees in the workplace practical tips for facing uncertain, but rewarding, situations how social proof can be used in the client/investor relationship Email - phebert@creativegroupinc Twitter - @IncentIntel

Bio: Dennis Moseley Williams is an entrepreneur, founder of DMW Strategic Consulting and author of ‘Serious Shift: How Experience Staging Can Save Your Practice.’ He’s also a certified expert of the Experience Economy (Pine and Gilmore). He lives with his wife Sherri, two daughters and a yellow lab. He loves spending his winters skiing as much as possible. In the summer he spends time with family at their cottage, Pine Lodge, in the Quebec wilderness. Tune in to hear: how luck plays into personal and financial success how one’s personality factors into how "lucky" they are the difference between customer service and customer experience how financial professionals can create experiences which help transform their clients how using a niche to define your client base improves business lessons from the experience economy for our relationship with a significant other Web - www.moseleywilliams.com & www.seriousshift.com