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Alternative Universe

Alternative Universe

Written by: Mammoth
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 Alternative Universe is a podcast for financial advisors, fund managers, and those who want to navigate the diverse landscape of alternative investments and explore opportunities that lie beyond the conventional. Brought to you by Mammothtechnology.com.Copyright © Mammoth Admin & Tech, LLC Economics Management Management & Leadership Marketing Marketing & Sales Personal Finance
Episodes
  • Helping Startup Employees Navigate Stock Options with Dave Thornton

    Helping Startup Employees Navigate Stock Options with Dave Thornton
    Apr 3 2024
    Episode 016: Startup employees often receive stock options as part of their compensation package, offering them the opportunity for financial gain and a stake in the company's future. However, many employees are unaware of the complexities and challenges associated with stock options. They leave money on the table by abandoning their expiring stock options unexercised. In this episode of Alternative Universe, Steve talks with Dave Thornton, Co-Founder, CEO, and Chief Investment Officer at Vested. Having spent a large part of his career as a serial entrepreneur, Dave’s most notable accomplishments include the founding and successful sale of PatientFinder, and his collaboration with Emilio Seijo, a Principal Quantitative Strategist at Vested, in creating a real-time illiquid asset pricing model. Dave also spent time building the systems at a hedge fund within Citigroup and worked as a Program Manager at Microsoft. Dave talks with Steve about the challenges faced by startup employees when exercising their stock options. He shares how Vested helps employees understand and navigate their stock options, allowing them to unlock the potential value of their equity. Join us as we discuss: [02:41] - How Dave got started in stock options. [06:12] - The origin of Vested. [10:21] - How Vested evaluates opportunities. [15:25] - The challenge facing public markets today. [19:13] - Pros and cons of liquidation plans. [21:25] - Vested's approach to serving investors. [26:54] - Vested's strategy to access top brand VCs. Key Takeaways Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. Seventy-six percent of people abandon their expiring stock options, indicating a lack of knowledge, support, and resources to exercise them. This results in missed opportunities for wealth creation. Vested aims to address the challenges and limitations of accessing venture capital by unlocking the potential of employee stock options and providing a more inclusive and accessible investment opportunity. Quotes "In your employee stock option plan, there is a provision that says when you leave for whatever reason, you have 90 days after you leave within which you have to exercise your vested stock options, or else they go up and smoke." ~ Dave Thornton "VC has been notoriously hard to access for several reasons. One is that to get into the best brand-name VCs, you usually need to be able to write a really big ticket, and that's if the VC is even still open for subscription. The other is that even for people who can access venture capital managers they like, VCs are known to be a high-octane asset class." ~ Dave Thornton Links Dave Thornton on LinkedIn Dave Thornton Email Vested Connect with our hosts Mammoth Steve on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify YouTube Google Podcast Disclosure All content on this podcast is for informational purposes of a general nature only, and does not address any particular individual or investment. Nothing in this podcast constitutes accounting, legal, tax, financial or other professional advice. The discussion on this podcast of any entity, product or service does not imply an endorsement thereof, and the podcast participants may have a financial interest, whether through investment or otherwise, in one or more of any such entities, products or services. Please seek independent advice from a financial professional about your investment needs.
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    30 mins
  • How to Maximize Retirement Income with Jack Sharry

    How to Maximize Retirement Income with Jack Sharry
    Mar 26 2024
    In this episode of Alternative Universe, Steve talks with Jack Sharry, EVP & Chief Growth Officer at LifeYield. Throughout his career, Jack has interacted with innovators, leaders, and disruptors who share his passion for combining human and digital advice. His background includes senior leadership roles at Morgan Stanley, Putnam, and Virtus. Jack contributes to numerous industry boards, publications, and organizations, advocating for practices and technology that provide more comprehensive access to financial advice, better investor outcomes, and individual retirement security through tax-efficient decumulation planning, social security optimization, and annuities. Jack talks with Steve about how to maximize retirement income. Jack emphasizes the shift towards solutions-oriented approaches in financial planning and the need to integrate tax optimization into portfolio management. They also touch on the future trends in the industry, including the importance of multi-account, tax-smart management, and the role of alternatives in improving outcomes for clients. Join us as we discuss: [01:38] - How Jack got started in financial services. [08:29] - Jack's secret weapon for giving advice. [12:31] - How the wholesaling industry has changed over time. [16:54] - Managing taxes and social security to improve client outcomes. [18:55] - The benefits of optimizing social security strategies for clients. [20:51] - Jack's outlook on the future of the industry. [24:20] - Jack's key takeaways. Key Takeaways Listening is a crucial skill in the financial services industry. By listening to clients' pain points and concerns, advisors can better understand their needs and provide tailored solutions. The industry is moving towards a solutions-oriented approach, integrating elements like equities, ETFs, alternatives, annuities, and tax optimization to improve client outcomes. The industry's future lies in platforms and ecosystems that coordinate and integrate different elements of financial planning, including tax optimization, risk management, and social security planning. Taxes are a significant cost for investors, and managing them can improve outcomes significantly. Integrating tax optimization and risk management in the alternative space is a powerful combination that can improve client outcomes. Quotes "We help the advisor help the client avoid paying unnecessary taxes. We do it across the household; it's multi-account and tied into risk. Social security is another factor to be considered. That's how to maximize retirement income." ~ Jack Sharry "Our industry is moving toward a multi-account, household-level portfolio management schema. And if you're going to improve outcomes, it's all around managing cost, risk, tax, and social security." ~ Jack Sharry "The biggest single cost that an investor incurs over the course of their lifetime is taxes. So, if you can manage taxes, we improve outcome by 33%." ~ Jack Sharry Links Jack Sharry on LinkedIn Jack Sharry on Twitter LifeYield Wealth Tech on Deck Podcast Money Management Institute Morgan Stanley Putnam Investments Rich Dad Poor Dad Babson College Edmund Murphy Empower EY Tiburon CEO Summits Chip Roame Connect with our hosts Mammoth Steve on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify YouTube Google Podcast Disclosure All content on this podcast is for informational purposes of a general nature only, and does not address any particular individual or investment. Nothing in this podcast constitutes accounting, legal, tax, financial or other professional advice. The discussion on this podcast of any entity, product or service does not imply an endorsement thereof, and the podcast participants may have a financial interest, whether through investment or otherwise, in one or more of any such entities, products or services. Please seek independent advice from a financial professional about your investment needs.
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    29 mins
  • Applying Practical Wisdom in Investment Partnership with John Candeto

    Applying Practical Wisdom in Investment Partnership with John Candeto
    Mar 19 2024
    Episode 014: Built on the bedrock of practical wisdom and a long-term perspective, Phronesis Fund believes in forging genuine partnerships rather than chasing fads. This commitment allows them to do more than invest. It's about building a foundation for shared success, thoughtful partnerships, flexible investment strategies, and a financial future as unique and enduring as the client. In this episode of Alternative Universe, Steve is joined by John Candeto, Founder and Managing Partner of Phronesis Fund. John shares his journey from operator to investor and explains how his background in building businesses has shaped his investing approach. He discusses his investment philosophy and the importance of practical wisdom in long-term investing. John also shares his insights on risk management, the power of curiosity and capability, and the power law in investing. Join us as we discuss: [01:42] - How Phronesis Fund got its name. [02:23] - What investment partnership means to John. [05:27] - How Phronesis Fund finds the best partners. [07:44] - The flexibility to invest in public and private companies. [11:20] - How John qualifies potential partners. [13:36] - The economy of time. [18:00] - How curiosity relates to your ability to serve others. [19:51] - The power law in venture capital. Key Takeaways Phronesis Fund is built on the principles of practical wisdom and long-term thinking. It focuses on serving partners rather than trying to be all things to all people. Phronesis Fund's structure allows for flexibility and concentration in investments, with a higher bar for private investments due to the operational intensity involved. Time is the only asset we cannot get more of. Balancing work and personal life to maximize fulfillment and serve others effectively is important. Quotes "We're not trying to be all things, all people. We're trying to be things where we can apply practical wisdom in a very long, biased, long duration, slow-moving, thoughtful partnership." ~ John Candeto "Whatever your job is, it's to serve your clients, serve your customers, and serve your partners. If you believe that, what those you serve really need from you is the intersection of what you're curious about and capable of." ~ John Candeto "The only asset you can't get more of is time. We don't even know how much of it we have. It can't be a game of 'spend all my time on this thing so that later I can do that thing.' It's got to be much more of a game of trade-offs and balance." ~ John Candeto Links John Candeto on LinkedIn John Candeto on Twitter John Candeto Email John Candeto Portal Phronesis Fund Wynton Marsalis Merrill Lynch Connect with our hosts Mammoth Steve on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify YouTube Google Podcast Disclosure All content on this podcast is for informational purposes of a general nature only, and does not address any particular individual or investment. Nothing in this podcast constitutes accounting, legal, tax, financial or other professional advice. The discussion on this podcast of any entity, product or service does not imply an endorsement thereof, and the podcast participants may have a financial interest, whether through investment or otherwise, in one or more of any such entities, products or services. Please seek independent advice from a financial professional about your investment needs.
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    27 mins
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