Latest / Views from 6,230 / Independent vs. Consolidators: Defining Wealth Management's Future
Transcript
- 0:11Let's
- 0:11go.
- 0:18Ryan Nauman Market Strategist Zephyr: Hello
- 0:18Ryan Nauman Market Strategist Zephyr: everyone
- 0:19Ryan Nauman Market Strategist Zephyr: and
- 0:19Ryan Nauman Market Strategist Zephyr: welcome
- 0:19Ryan Nauman Market Strategist Zephyr: to
- 0:19Ryan Nauman Market Strategist Zephyr: zephyr's
- 0:20Ryan Nauman Market Strategist Zephyr: adjusted
- 0:20Ryan Nauman Market Strategist Zephyr: for
- 0:20Ryan Nauman Market Strategist Zephyr: Risk
- 0:21Ryan Nauman Market Strategist Zephyr: podcast.
- 0:22Ryan Nauman Market Strategist Zephyr: I
- 0:22Ryan Nauman Market Strategist Zephyr: am
- 0:22Ryan Nauman Market Strategist Zephyr: Ryan
- 0:23Ryan Nauman Market Strategist Zephyr: Nauman,
- 0:23Ryan Nauman Market Strategist Zephyr: the
- 0:23Ryan Nauman Market Strategist Zephyr: market
- 0:23Ryan Nauman Market Strategist Zephyr: strategist
- 0:24Ryan Nauman Market Strategist Zephyr: here
- 0:24Ryan Nauman Market Strategist Zephyr: at
- 0:25Ryan Nauman Market Strategist Zephyr: Zephyr.
- 0:25Ryan Nauman Market Strategist Zephyr: One
- 0:26Ryan Nauman Market Strategist Zephyr: of
- 0:26Ryan Nauman Market Strategist Zephyr: the
- 0:26Ryan Nauman Market Strategist Zephyr: hottest
- 0:26Ryan Nauman Market Strategist Zephyr: trends
- 0:27Ryan Nauman Market Strategist Zephyr: in
- 0:27Ryan Nauman Market Strategist Zephyr: the
- 0:27Ryan Nauman Market Strategist Zephyr: wealth
- 0:27Ryan Nauman Market Strategist Zephyr: management
- 0:28Ryan Nauman Market Strategist Zephyr: space
- 0:28Ryan Nauman Market Strategist Zephyr: has
- 0:29Ryan Nauman Market Strategist Zephyr: been
- 0:29Ryan Nauman Market Strategist Zephyr: the
- 0:29Ryan Nauman Market Strategist Zephyr: question
- 0:29Ryan Nauman Market Strategist Zephyr: whether
- 0:30Ryan Nauman Market Strategist Zephyr: to
- 0:30Ryan Nauman Market Strategist Zephyr: go
- 0:30Ryan Nauman Market Strategist Zephyr: independent
- 0:31Ryan Nauman Market Strategist Zephyr: or
- 0:32Ryan Nauman Market Strategist Zephyr: remain
- 0:33Ryan Nauman Market Strategist Zephyr: as
- 0:33Ryan Nauman Market Strategist Zephyr: a
- 0:33Ryan Nauman Market Strategist Zephyr: captive
- 0:33Ryan Nauman Market Strategist Zephyr: advisor.
- 0:34Ryan Nauman Market Strategist Zephyr: Well,
- 0:35Ryan Nauman Market Strategist Zephyr: I
- 0:35Ryan Nauman Market Strategist Zephyr: have
- 0:35Ryan Nauman Market Strategist Zephyr: on
- 0:36Ryan Nauman Market Strategist Zephyr: the
- 0:36Ryan Nauman Market Strategist Zephyr: perfect
- 0:36Ryan Nauman Market Strategist Zephyr: guest
- 0:37Ryan Nauman Market Strategist Zephyr: to
- 0:37Ryan Nauman Market Strategist Zephyr: share
- 0:38Ryan Nauman Market Strategist Zephyr: his
- 0:38Ryan Nauman Market Strategist Zephyr: great.
- 0:39Ryan Nauman Market Strategist Zephyr: Insights
- 0:40Ryan Nauman Market Strategist Zephyr: about
- 0:40Ryan Nauman Market Strategist Zephyr: the
- 0:40Ryan Nauman Market Strategist Zephyr: evolution
- 0:41Ryan Nauman Market Strategist Zephyr: of
- 0:41Ryan Nauman Market Strategist Zephyr: the
- 0:41Ryan Nauman Market Strategist Zephyr: wealth
- 0:41Ryan Nauman Market Strategist Zephyr: management
- 0:42Ryan Nauman Market Strategist Zephyr: space
- 0:42Ryan Nauman Market Strategist Zephyr: and
- 0:43Ryan Nauman Market Strategist Zephyr: the
- 0:43Ryan Nauman Market Strategist Zephyr: current
- 0:43Ryan Nauman Market Strategist Zephyr: landscape
- 0:44Ryan Nauman Market Strategist Zephyr: of
- 0:44Ryan Nauman Market Strategist Zephyr: the
- 0:44Ryan Nauman Market Strategist Zephyr: independent
- 0:45Ryan Nauman Market Strategist Zephyr: channel.
- 0:46Ryan Nauman Market Strategist Zephyr: But
- 0:46Ryan Nauman Market Strategist Zephyr: first,
- 0:47Ryan Nauman Market Strategist Zephyr: today's
- 0:48Ryan Nauman Market Strategist Zephyr: episode
- 0:48Ryan Nauman Market Strategist Zephyr: is
- 0:48Ryan Nauman Market Strategist Zephyr: sponsored
- 0:49Ryan Nauman Market Strategist Zephyr: by
- 0:49Ryan Nauman Market Strategist Zephyr: the
- 0:49Ryan Nauman Market Strategist Zephyr: award-winning
- 0:50Ryan Nauman Market Strategist Zephyr: Zephyr,
- 0:51Ryan Nauman Market Strategist Zephyr: which
- 0:51Ryan Nauman Market Strategist Zephyr: helps
- 0:51Ryan Nauman Market Strategist Zephyr: investment
- 0:52Ryan Nauman Market Strategist Zephyr: professionals
- 0:52Ryan Nauman Market Strategist Zephyr: make
- 0:53Ryan Nauman Market Strategist Zephyr: more
- 0:53Ryan Nauman Market Strategist Zephyr: informed
- 0:54Ryan Nauman Market Strategist Zephyr: investment
- 0:55Ryan Nauman Market Strategist Zephyr: decisions
- 0:55Ryan Nauman Market Strategist Zephyr: on
- 0:55Ryan Nauman Market Strategist Zephyr: behalf
- 0:56Ryan Nauman Market Strategist Zephyr: of
- 0:56Ryan Nauman Market Strategist Zephyr: their
- 0:56Ryan Nauman Market Strategist Zephyr: clients.
- 0:57Ryan Nauman Market Strategist Zephyr: Alright,
- 0:57Ryan Nauman Market Strategist Zephyr: enough
- 0:58Ryan Nauman Market Strategist Zephyr: from
- 0:58Ryan Nauman Market Strategist Zephyr: me.
- 0:58Ryan Nauman Market Strategist Zephyr: Let's
- 0:59Ryan Nauman Market Strategist Zephyr: go
- 0:59Ryan Nauman Market Strategist Zephyr: ahead
- 0:59Ryan Nauman Market Strategist Zephyr: and
- 1:00Ryan Nauman Market Strategist Zephyr: move
- 1:00Ryan Nauman Market Strategist Zephyr: on
- 1:00Ryan Nauman Market Strategist Zephyr: to
- 1:00Ryan Nauman Market Strategist Zephyr: the
- 1:01Ryan Nauman Market Strategist Zephyr: star
- 1:01Ryan Nauman Market Strategist Zephyr: of
- 1:01Ryan Nauman Market Strategist Zephyr: the
- 1:02Ryan Nauman Market Strategist Zephyr: show.
- 1:02Ryan Nauman Market Strategist Zephyr: I
- 1:03Ryan Nauman Market Strategist Zephyr: would
- 1:03Ryan Nauman Market Strategist Zephyr: like
- 1:03Ryan Nauman Market Strategist Zephyr: to
- 1:03Ryan Nauman Market Strategist Zephyr: welcome
- 1:04Ryan Nauman Market Strategist Zephyr: Pete
- 1:04Ryan Nauman Market Strategist Zephyr: McGrady.
- 1:05Ryan Nauman Market Strategist Zephyr: Pete
- 1:06Ryan Nauman Market Strategist Zephyr: is
- 1:06Ryan Nauman Market Strategist Zephyr: the
- 1:06Ryan Nauman Market Strategist Zephyr: executive
- 1:07Ryan Nauman Market Strategist Zephyr: director
- 1:08Ryan Nauman Market Strategist Zephyr: of
- 1:08Ryan Nauman Market Strategist Zephyr: RIA
- 1:09Ryan Nauman Market Strategist Zephyr: Development
- 1:10Ryan Nauman Market Strategist Zephyr: at
- 1:10Ryan Nauman Market Strategist Zephyr: Verdant.
- 1:11Ryan Nauman Market Strategist Zephyr: Pete,
- 1:11Ryan Nauman Market Strategist Zephyr: thank
- 1:12Ryan Nauman Market Strategist Zephyr: you
- 1:12Ryan Nauman Market Strategist Zephyr: so
- 1:12Ryan Nauman Market Strategist Zephyr: much
- 1:12Ryan Nauman Market Strategist Zephyr: for
- 1:13Ryan Nauman Market Strategist Zephyr: coming
- 1:13Ryan Nauman Market Strategist Zephyr: on
- 1:13Ryan Nauman Market Strategist Zephyr: the
- 1:13Ryan Nauman Market Strategist Zephyr: podcast.
- 1:14Ryan Nauman Market Strategist Zephyr: It's
- 1:14Ryan Nauman Market Strategist Zephyr: really
- 1:14Ryan Nauman Market Strategist Zephyr: an
- 1:14Ryan Nauman Market Strategist Zephyr: honor
- 1:15Ryan Nauman Market Strategist Zephyr: to
- 1:15Ryan Nauman Market Strategist Zephyr: have
- 1:15Ryan Nauman Market Strategist Zephyr: you
- 1:15Ryan Nauman Market Strategist Zephyr: and
- 1:15Ryan Nauman Market Strategist Zephyr: we
- 1:15Ryan Nauman Market Strategist Zephyr: had
- 1:15Ryan Nauman Market Strategist Zephyr: a
- 1:15Ryan Nauman Market Strategist Zephyr: great
- 1:16Ryan Nauman Market Strategist Zephyr: conversation
- 1:17Ryan Nauman Market Strategist Zephyr: last
- 1:18Ryan Nauman Market Strategist Zephyr: week.
- 1:18Ryan Nauman Market Strategist Zephyr: Really
- 1:18Ryan Nauman Market Strategist Zephyr: looking
- 1:19Ryan Nauman Market Strategist Zephyr: forward
- 1:19Ryan Nauman Market Strategist Zephyr: to
- 1:19Ryan Nauman Market Strategist Zephyr: this
- 1:20Ryan Nauman Market Strategist Zephyr: one.
- 1:20Ryan Nauman Market Strategist Zephyr: It's
- 1:20Ryan Nauman Market Strategist Zephyr: gonna
- 1:20Ryan Nauman Market Strategist Zephyr: be
- 1:20Ryan Nauman Market Strategist Zephyr: a
- 1:20Ryan Nauman Market Strategist Zephyr: good
- 1:21Ryan Nauman Market Strategist Zephyr: one.
- 1:21Ryan Nauman Market Strategist Zephyr: Can
- 1:21Ryan Nauman Market Strategist Zephyr: you
- 1:22Ryan Nauman Market Strategist Zephyr: please
- 1:22Ryan Nauman Market Strategist Zephyr: tell
- 1:22Ryan Nauman Market Strategist Zephyr: us
- 1:22Ryan Nauman Market Strategist Zephyr: a
- 1:22Ryan Nauman Market Strategist Zephyr: little
- 1:22Ryan Nauman Market Strategist Zephyr: bit
- 1:23Ryan Nauman Market Strategist Zephyr: more
- 1:23Ryan Nauman Market Strategist Zephyr: about
- 1:23Ryan Nauman Market Strategist Zephyr: yourself
- 1:24Ryan Nauman Market Strategist Zephyr: and
- 1:24Ryan Nauman Market Strategist Zephyr: verdant?
- 1:26Peter McGratty Executive Director RIA Development Verdence: Sure.
- 1:26Peter McGratty Executive Director RIA Development Verdence: Thank
- 1:27Peter McGratty Executive Director RIA Development Verdence: you
- 1:27Peter McGratty Executive Director RIA Development Verdence: very
- 1:27Peter McGratty Executive Director RIA Development Verdence: much
- 1:27Peter McGratty Executive Director RIA Development Verdence: for
- 1:27Peter McGratty Executive Director RIA Development Verdence: having
- 1:28Peter McGratty Executive Director RIA Development Verdence: me.
- 1:28Peter McGratty Executive Director RIA Development Verdence: I'm
- 1:28Peter McGratty Executive Director RIA Development Verdence: honored
- 1:29Peter McGratty Executive Director RIA Development Verdence: to
- 1:29Peter McGratty Executive Director RIA Development Verdence: be
- 1:29Peter McGratty Executive Director RIA Development Verdence: part
- 1:29Peter McGratty Executive Director RIA Development Verdence: of
- 1:29Peter McGratty Executive Director RIA Development Verdence: your
- 1:29Peter McGratty Executive Director RIA Development Verdence: program.
- 1:31Peter McGratty Executive Director RIA Development Verdence: a
- 1:31Peter McGratty Executive Director RIA Development Verdence: little
- 1:31Peter McGratty Executive Director RIA Development Verdence: background
- 1:32Peter McGratty Executive Director RIA Development Verdence: about
- 1:32Peter McGratty Executive Director RIA Development Verdence: me.
- 1:33Peter McGratty Executive Director RIA Development Verdence: I
- 1:33Peter McGratty Executive Director RIA Development Verdence: spent
- 1:33Peter McGratty Executive Director RIA Development Verdence: the
- 1:33Peter McGratty Executive Director RIA Development Verdence: first
- 1:34Peter McGratty Executive Director RIA Development Verdence: half
- 1:34Peter McGratty Executive Director RIA Development Verdence: of
- 1:34Peter McGratty Executive Director RIA Development Verdence: my
- 1:34Peter McGratty Executive Director RIA Development Verdence: career
- 1:35Peter McGratty Executive Director RIA Development Verdence: on
- 1:35Peter McGratty Executive Director RIA Development Verdence: the
- 1:35Peter McGratty Executive Director RIA Development Verdence: institutional
- 1:36Peter McGratty Executive Director RIA Development Verdence: money
- 1:36Peter McGratty Executive Director RIA Development Verdence: management
- 1:37Peter McGratty Executive Director RIA Development Verdence: side
- 1:37Peter McGratty Executive Director RIA Development Verdence: of
- 1:37Peter McGratty Executive Director RIA Development Verdence: the
- 1:37Peter McGratty Executive Director RIA Development Verdence: equation.
- 1:38Peter McGratty Executive Director RIA Development Verdence: I
- 1:38Peter McGratty Executive Director RIA Development Verdence: spent
- 1:39Peter McGratty Executive Director RIA Development Verdence: a
- 1:39Peter McGratty Executive Director RIA Development Verdence: portion
- 1:39Peter McGratty Executive Director RIA Development Verdence: of
- 1:39Peter McGratty Executive Director RIA Development Verdence: it
- 1:40Peter McGratty Executive Director RIA Development Verdence: as
- 1:40Peter McGratty Executive Director RIA Development Verdence: a
- 1:40Peter McGratty Executive Director RIA Development Verdence: sell
- 1:40Peter McGratty Executive Director RIA Development Verdence: side
- 1:41Peter McGratty Executive Director RIA Development Verdence: research
- 1:41Peter McGratty Executive Director RIA Development Verdence: analyst
- 1:42Peter McGratty Executive Director RIA Development Verdence: and
- 1:42Peter McGratty Executive Director RIA Development Verdence: was
- 1:43Peter McGratty Executive Director RIA Development Verdence: fortunate
- 1:43Peter McGratty Executive Director RIA Development Verdence: to
- 1:43Peter McGratty Executive Director RIA Development Verdence: be
- 1:43Peter McGratty Executive Director RIA Development Verdence: awarded
- 1:44Peter McGratty Executive Director RIA Development Verdence: wall
- 1:44Peter McGratty Executive Director RIA Development Verdence: Street
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- 1:45Peter McGratty Executive Director RIA Development Verdence: Allstar
- 1:46Peter McGratty Executive Director RIA Development Verdence: bank
- 1:46Peter McGratty Executive Director RIA Development Verdence: Analyst
- 1:47Peter McGratty Executive Director RIA Development Verdence: while
- 1:47Peter McGratty Executive Director RIA Development Verdence: I
- 1:47Peter McGratty Executive Director RIA Development Verdence: was
- 1:47Peter McGratty Executive Director RIA Development Verdence: doing
- 1:47Peter McGratty Executive Director RIA Development Verdence: that.
- 1:48Peter McGratty Executive Director RIA Development Verdence: And
- 1:48Peter McGratty Executive Director RIA Development Verdence: then
- 1:48Peter McGratty Executive Director RIA Development Verdence: subsequently
- 1:49Peter McGratty Executive Director RIA Development Verdence: I
- 1:49Peter McGratty Executive Director RIA Development Verdence: was
- 1:49Peter McGratty Executive Director RIA Development Verdence: on
- 1:50Peter McGratty Executive Director RIA Development Verdence: the
- 1:50Peter McGratty Executive Director RIA Development Verdence: buy
- 1:50Peter McGratty Executive Director RIA Development Verdence: side
- 1:50Peter McGratty Executive Director RIA Development Verdence: managing
- 1:51Peter McGratty Executive Director RIA Development Verdence: money.
- 1:52Peter McGratty Executive Director RIA Development Verdence: But
- 1:52Peter McGratty Executive Director RIA Development Verdence: about
- 1:52Peter McGratty Executive Director RIA Development Verdence: 15,
- 1:53Peter McGratty Executive Director RIA Development Verdence: 16
- 1:53Peter McGratty Executive Director RIA Development Verdence: years
- 1:53Peter McGratty Executive Director RIA Development Verdence: ago,
- 1:54Peter McGratty Executive Director RIA Development Verdence: I
- 1:54Peter McGratty Executive Director RIA Development Verdence: pivoted
- 1:54Peter McGratty Executive Director RIA Development Verdence: to
- 1:54Peter McGratty Executive Director RIA Development Verdence: the
- 1:55Peter McGratty Executive Director RIA Development Verdence: Wealth
- 1:55Peter McGratty Executive Director RIA Development Verdence: Management
- 1:56Peter McGratty Executive Director RIA Development Verdence: Channel
- 1:57Peter McGratty Executive Director RIA Development Verdence: and
- 1:57Peter McGratty Executive Director RIA Development Verdence: in
- 1:57Peter McGratty Executive Director RIA Development Verdence: the
- 1:57Peter McGratty Executive Director RIA Development Verdence: wealth
- 1:57Peter McGratty Executive Director RIA Development Verdence: management
- 1:58Peter McGratty Executive Director RIA Development Verdence: channel.
- 1:59Peter McGratty Executive Director RIA Development Verdence: What
- 1:59Peter McGratty Executive Director RIA Development Verdence: I've
- 1:59Peter McGratty Executive Director RIA Development Verdence: really
- 1:59Peter McGratty Executive Director RIA Development Verdence: been
- 2:00Peter McGratty Executive Director RIA Development Verdence: doing
- 2:00Peter McGratty Executive Director RIA Development Verdence: is
- 2:00Peter McGratty Executive Director RIA Development Verdence: working
- 2:01Peter McGratty Executive Director RIA Development Verdence: with
- 2:01Peter McGratty Executive Director RIA Development Verdence: independent
- 2:02Peter McGratty Executive Director RIA Development Verdence: across
- 2:03Peter McGratty Executive Director RIA Development Verdence: the
- 2:03Peter McGratty Executive Director RIA Development Verdence: country
- 2:04Peter McGratty Executive Director RIA Development Verdence: working
- 2:04Peter McGratty Executive Director RIA Development Verdence: with
- 2:05Peter McGratty Executive Director RIA Development Verdence: them
- 2:05Peter McGratty Executive Director RIA Development Verdence: typically
- 2:05Peter McGratty Executive Director RIA Development Verdence: on
- 2:06Peter McGratty Executive Director RIA Development Verdence: items
- 2:06Peter McGratty Executive Director RIA Development Verdence: like
- 2:07Peter McGratty Executive Director RIA Development Verdence: continuity
- 2:08Peter McGratty Executive Director RIA Development Verdence: and
- 2:08Peter McGratty Executive Director RIA Development Verdence: succession
- 2:08Peter McGratty Executive Director RIA Development Verdence: planning.
- 2:09Peter McGratty Executive Director RIA Development Verdence: Helping
- 2:10Peter McGratty Executive Director RIA Development Verdence: firms
- 2:10Peter McGratty Executive Director RIA Development Verdence: break
- 2:10Peter McGratty Executive Director RIA Development Verdence: away
- 2:11Peter McGratty Executive Director RIA Development Verdence: from
- 2:11Peter McGratty Executive Director RIA Development Verdence: existing
- 2:12Peter McGratty Executive Director RIA Development Verdence: or
- 2:13Peter McGratty Executive Director RIA Development Verdence: from
- 2:13Peter McGratty Executive Director RIA Development Verdence: wirehouse
- 2:14Peter McGratty Executive Director RIA Development Verdence: or
- 2:14Peter McGratty Executive Director RIA Development Verdence: broker
- 2:15Peter McGratty Executive Director RIA Development Verdence: dealer
- 2:15Peter McGratty Executive Director RIA Development Verdence: firms
- 2:16Peter McGratty Executive Director RIA Development Verdence: to
- 2:16Peter McGratty Executive Director RIA Development Verdence: create
- 2:16Peter McGratty Executive Director RIA Development Verdence: their
- 2:16Peter McGratty Executive Director RIA Development Verdence: own
- 2:16Peter McGratty Executive Director RIA Development Verdence: independent
- 2:17Peter McGratty Executive Director RIA Development Verdence: RIA
- 2:18Peter McGratty Executive Director RIA Development Verdence: but
- 2:19Peter McGratty Executive Director RIA Development Verdence: primarily
- 2:20Peter McGratty Executive Director RIA Development Verdence: working
- 2:20Peter McGratty Executive Director RIA Development Verdence: with
- 2:20Peter McGratty Executive Director RIA Development Verdence: existing
- 2:21Peter McGratty Executive Director RIA Development Verdence: independent
- 2:22Peter McGratty Executive Director RIA Development Verdence: RIAs.
- 2:23Peter McGratty Executive Director RIA Development Verdence: To
- 2:23Peter McGratty Executive Director RIA Development Verdence: help
- 2:24Peter McGratty Executive Director RIA Development Verdence: 'em
- 2:24Peter McGratty Executive Director RIA Development Verdence: free
- 2:24Peter McGratty Executive Director RIA Development Verdence: up
- 2:24Peter McGratty Executive Director RIA Development Verdence: their
- 2:24Peter McGratty Executive Director RIA Development Verdence: time
- 2:25Peter McGratty Executive Director RIA Development Verdence: and
- 2:25Peter McGratty Executive Director RIA Development Verdence: to
- 2:25Peter McGratty Executive Director RIA Development Verdence: help
- 2:25Peter McGratty Executive Director RIA Development Verdence: 'em
- 2:26Peter McGratty Executive Director RIA Development Verdence: be
- 2:26Peter McGratty Executive Director RIA Development Verdence: more
- 2:26Peter McGratty Executive Director RIA Development Verdence: competitive
- 2:27Peter McGratty Executive Director RIA Development Verdence: with
- 2:27Peter McGratty Executive Director RIA Development Verdence: the
- 2:28Peter McGratty Executive Director RIA Development Verdence: firms
- 2:28Peter McGratty Executive Director RIA Development Verdence: that
- 2:28Peter McGratty Executive Director RIA Development Verdence: they're
- 2:28Peter McGratty Executive Director RIA Development Verdence: out
- 2:28Peter McGratty Executive Director RIA Development Verdence: there
- 2:29Peter McGratty Executive Director RIA Development Verdence: competing
- 2:29Peter McGratty Executive Director RIA Development Verdence: with,
- 2:29Peter McGratty Executive Director RIA Development Verdence: how
- 2:29Peter McGratty Executive Director RIA Development Verdence: do
- 2:30Peter McGratty Executive Director RIA Development Verdence: we
- 2:30Peter McGratty Executive Director RIA Development Verdence: do
- 2:30Peter McGratty Executive Director RIA Development Verdence: that?
- 2:30Peter McGratty Executive Director RIA Development Verdence: We
- 2:30Peter McGratty Executive Director RIA Development Verdence: can
- 2:31Peter McGratty Executive Director RIA Development Verdence: provide
- 2:31Peter McGratty Executive Director RIA Development Verdence: them
- 2:31Peter McGratty Executive Director RIA Development Verdence: a
- 2:31Peter McGratty Executive Director RIA Development Verdence: lot
- 2:31Peter McGratty Executive Director RIA Development Verdence: of
- 2:32Peter McGratty Executive Director RIA Development Verdence: support
- 2:32Peter McGratty Executive Director RIA Development Verdence: around
- 2:33Peter McGratty Executive Director RIA Development Verdence: public
- 2:33Peter McGratty Executive Director RIA Development Verdence: and
- 2:33Peter McGratty Executive Director RIA Development Verdence: private
- 2:34Peter McGratty Executive Director RIA Development Verdence: investments.
- 2:35Peter McGratty Executive Director RIA Development Verdence: We
- 2:35Peter McGratty Executive Director RIA Development Verdence: can
- 2:35Peter McGratty Executive Director RIA Development Verdence: provide
- 2:36Peter McGratty Executive Director RIA Development Verdence: them
- 2:36Peter McGratty Executive Director RIA Development Verdence: support
- 2:36Peter McGratty Executive Director RIA Development Verdence: around
- 2:37Peter McGratty Executive Director RIA Development Verdence: financial
- 2:38Peter McGratty Executive Director RIA Development Verdence: planning,
- 2:38Peter McGratty Executive Director RIA Development Verdence: around
- 2:39Peter McGratty Executive Director RIA Development Verdence: operations,
- 2:40Peter McGratty Executive Director RIA Development Verdence: around
- 2:40Peter McGratty Executive Director RIA Development Verdence: compliance.
- 2:41Peter McGratty Executive Director RIA Development Verdence: But
- 2:41Peter McGratty Executive Director RIA Development Verdence: again,
- 2:42Peter McGratty Executive Director RIA Development Verdence: the
- 2:42Peter McGratty Executive Director RIA Development Verdence: whole
- 2:42Peter McGratty Executive Director RIA Development Verdence: idea
- 2:42Peter McGratty Executive Director RIA Development Verdence: is
- 2:43Peter McGratty Executive Director RIA Development Verdence: to
- 2:43Peter McGratty Executive Director RIA Development Verdence: free
- 2:43Peter McGratty Executive Director RIA Development Verdence: up
- 2:43Peter McGratty Executive Director RIA Development Verdence: their
- 2:43Peter McGratty Executive Director RIA Development Verdence: time
- 2:44Peter McGratty Executive Director RIA Development Verdence: and
- 2:44Peter McGratty Executive Director RIA Development Verdence: provide
- 2:45Peter McGratty Executive Director RIA Development Verdence: them
- 2:45Peter McGratty Executive Director RIA Development Verdence: the
- 2:45Peter McGratty Executive Director RIA Development Verdence: tools
- 2:45Peter McGratty Executive Director RIA Development Verdence: so
- 2:45Peter McGratty Executive Director RIA Development Verdence: they
- 2:46Peter McGratty Executive Director RIA Development Verdence: can
- 2:46Peter McGratty Executive Director RIA Development Verdence: be
- 2:46Peter McGratty Executive Director RIA Development Verdence: competitive.
- 2:48Ryan: Yeah,
- 2:48Ryan: that's
- 2:48Ryan: fantastic.
- 2:49Ryan: And
- 2:49Ryan: as
- 2:49Ryan: we
- 2:50Ryan: know,
- 2:50Ryan: financial
- 2:50Ryan: advisors,
- 2:52Ryan: especially
- 2:52Ryan: on
- 2:53Ryan: the
- 2:53Ryan: independent
- 2:53Ryan: side,
- 2:54Ryan: they
- 2:54Ryan: have
- 2:54Ryan: to
- 2:54Ryan: wear
- 2:54Ryan: many
- 2:54Ryan: different
- 2:55Ryan: hats
- 2:55Ryan: and
- 2:55Ryan: man.
- 2:56Ryan: Manage
- 2:56Ryan: a
- 2:56Ryan: lot
- 2:57Ryan: of
- 2:57Ryan: different
- 2:57Ryan: roles
- 2:57Ryan: of
- 2:57Ryan: their
- 2:58Ryan: practice.
- 2:58Ryan: So
- 2:59Ryan: helping
- 2:59Ryan: them
- 3:00Ryan: so
- 3:00Ryan: they
- 3:00Ryan: can
- 3:01Ryan: do
- 3:01Ryan: probably
- 3:01Ryan: what's
- 3:01Ryan: most
- 3:02Ryan: important.
- 3:02Ryan: And
- 3:02Ryan: that's
- 3:02Ryan: the
- 3:03Ryan: relationship
- 3:03Ryan: management
- 3:04Ryan: practice
- 3:05Ryan: part
- 3:05Ryan: of
- 3:05Ryan: it
- 3:06Ryan: is
- 3:06Ryan: most
- 3:06Ryan: important.
- 3:07Ryan: So
- 3:07Ryan: Pete,
- 3:08Ryan: let's
- 3:08Ryan: start
- 3:08Ryan: just
- 3:08Ryan: by
- 3:09Ryan: talking
- 3:09Ryan: about
- 3:10Ryan: the
- 3:10Ryan: evolution
- 3:10Ryan: in
- 3:10Ryan: this
- 3:11Ryan: space.
- 3:11Ryan: I'm
- 3:11Ryan: gonna
- 3:11Ryan: age
- 3:11Ryan: myself.
- 3:12Ryan: 20
- 3:12Ryan: years
- 3:13Ryan: ago
- 3:13Ryan: when
- 3:14Ryan: I
- 3:14Ryan: started,
- 3:15Ryan: it
- 3:15Ryan: was.
- 3:17Ryan: It
- 3:17Ryan: was
- 3:17Ryan: more
- 3:17Ryan: brokers,
- 3:18Ryan: right?
- 3:19Ryan: There
- 3:19Ryan: wasn't
- 3:19Ryan: financial
- 3:20Ryan: planning.
- 3:20Ryan: It
- 3:20Ryan: wasn't
- 3:21Ryan: you
- 3:21Ryan: know,
- 3:21Ryan: it
- 3:21Ryan: was
- 3:21Ryan: all
- 3:21Ryan: commission
- 3:22Ryan: based
- 3:22Ryan: for
- 3:23Ryan: the
- 3:23Ryan: most
- 3:23Ryan: part.
- 3:24Ryan: Can
- 3:24Ryan: you
- 3:24Ryan: just
- 3:24Ryan: add
- 3:25Ryan: a
- 3:25Ryan: little
- 3:25Ryan: bit
- 3:25Ryan: more
- 3:25Ryan: color
- 3:26Ryan: to
- 3:26Ryan: the
- 3:26Ryan: evolution
- 3:27Ryan: over
- 3:27Ryan: the
- 3:27Ryan: years
- 3:27Ryan: of
- 3:27Ryan: the
- 3:27Ryan: wealth
- 3:28Ryan: management
- 3:28Ryan: space?
- 3:30Peter McGratty: Yeah
- 3:30Peter McGratty: so
- 3:30Peter McGratty: as
- 3:30Peter McGratty: I
- 3:30Peter McGratty: mentioned,
- 3:31Peter McGratty: I've
- 3:31Peter McGratty: been
- 3:32Peter McGratty: a
- 3:32Peter McGratty: part
- 3:32Peter McGratty: of
- 3:32Peter McGratty: the
- 3:32Peter McGratty: wealth
- 3:33Peter McGratty: management
- 3:33Peter McGratty: space
- 3:34Peter McGratty: for
- 3:34Peter McGratty: about
- 3:34Peter McGratty: 15,
- 3:35Peter McGratty: 16
- 3:35Peter McGratty: years.
- 3:36Peter McGratty: I
- 3:36Peter McGratty: really
- 3:37Peter McGratty: pivoted
- 3:37Peter McGratty: from
- 3:37Peter McGratty: the
- 3:38Peter McGratty: money
- 3:38Peter McGratty: management
- 3:39Peter McGratty: world
- 3:39Peter McGratty: into
- 3:40Peter McGratty: the
- 3:40Peter McGratty: wealth
- 3:40Peter McGratty: management
- 3:40Peter McGratty: world
- 3:41Peter McGratty: around
- 3:41Peter McGratty: 2010.
- 3:43Peter McGratty: so
- 3:43Peter McGratty: I
- 3:43Peter McGratty: can
- 3:43Peter McGratty: speak.
- 3:45Peter McGratty: To
- 3:45Peter McGratty: my
- 3:45Peter McGratty: experience
- 3:46Peter McGratty: since
- 3:46Peter McGratty: then.
- 3:47Peter McGratty: And
- 3:47Peter McGratty: I
- 3:47Peter McGratty: really
- 3:47Peter McGratty: see
- 3:48Peter McGratty: three,
- 3:50Peter McGratty: evolutions,
- 3:50Peter McGratty: and
- 3:51Peter McGratty: you'll
- 3:51Peter McGratty: have
- 3:51Peter McGratty: to
- 3:51Peter McGratty: forgive
- 3:51Peter McGratty: me
- 3:52Peter McGratty: since
- 3:52Peter McGratty: I
- 3:52Peter McGratty: haven't
- 3:53Peter McGratty: been
- 3:53Peter McGratty: around
- 3:53Peter McGratty: for
- 3:53Peter McGratty: 30
- 3:54Peter McGratty: years.
- 3:54Peter McGratty: But
- 3:55Peter McGratty: my
- 3:55Peter McGratty: understanding
- 3:55Peter McGratty: is,
- 3:56Peter McGratty: you
- 3:56Peter McGratty: know
- 3:56Peter McGratty: that
- 3:57Peter McGratty: the
- 3:57Peter McGratty: independent
- 3:58Peter McGratty: channel
- 3:59Peter McGratty: really.
- 4:00Peter McGratty: Started
- 4:01Peter McGratty: probably
- 4:01Peter McGratty: when
- 4:02Peter McGratty: I
- 4:02Peter McGratty: started
- 4:02Peter McGratty: my
- 4:02Peter McGratty: career
- 4:03Peter McGratty: back
- 4:03Peter McGratty: in
- 4:03Peter McGratty: 1990.
- 4:05Peter McGratty: Maybe
- 4:05Peter McGratty: earlier
- 4:05Peter McGratty: than
- 4:06Peter McGratty: that,
- 4:06Peter McGratty: the
- 4:06Peter McGratty: industry
- 4:07Peter McGratty: was
- 4:07Peter McGratty: really
- 4:07Peter McGratty: dominated
- 4:08Peter McGratty: by
- 4:08Peter McGratty: the
- 4:09Peter McGratty: FINRA
- 4:09Peter McGratty: world
- 4:10Peter McGratty: the
- 4:10Peter McGratty: wirehouse
- 4:11Peter McGratty: and
- 4:11Peter McGratty: broker
- 4:11Peter McGratty: dealer
- 4:11Peter McGratty: world.
- 4:12Peter McGratty: And
- 4:12Peter McGratty: then
- 4:13Peter McGratty: you
- 4:13Peter McGratty: saw
- 4:13Peter McGratty: the
- 4:13Peter McGratty: CFP
- 4:14Peter McGratty: program
- 4:15Peter McGratty: emerging
- 4:15Peter McGratty: and
- 4:15Peter McGratty: you
- 4:15Peter McGratty: started
- 4:16Peter McGratty: to
- 4:16Peter McGratty: see
- 4:16Peter McGratty: independent
- 4:18Peter McGratty: I
- 4:18Peter McGratty: can't
- 4:18Peter McGratty: speak
- 4:19Peter McGratty: a
- 4:19Peter McGratty: lot
- 4:19Peter McGratty: to
- 4:19Peter McGratty: that
- 4:20Peter McGratty: 'cause
- 4:20Peter McGratty: a
- 4:20Peter McGratty: lot
- 4:20Peter McGratty: of
- 4:20Peter McGratty: that
- 4:20Peter McGratty: was
- 4:20Peter McGratty: before
- 4:21Peter McGratty: my
- 4:21Peter McGratty: time,
- 4:21Peter McGratty: but
- 4:21Peter McGratty: I
- 4:21Peter McGratty: do
- 4:22Peter McGratty: remember
- 4:22Peter McGratty: those
- 4:22Peter McGratty: independent
- 4:23Peter McGratty: firms
- 4:23Peter McGratty: starting
- 4:24Peter McGratty: to,
- 4:24Peter McGratty: and
- 4:24Peter McGratty: that
- 4:24Peter McGratty: whole
- 4:25Peter McGratty: independent
- 4:25Peter McGratty: channel
- 4:26Peter McGratty: starting
- 4:26Peter McGratty: to
- 4:26Peter McGratty: form
- 4:27Peter McGratty: as
- 4:27Peter McGratty: an
- 4:27Peter McGratty: alternative.
- 4:29Peter McGratty: when
- 4:29Peter McGratty: I
- 4:30Peter McGratty: pivoted
- 4:30Peter McGratty: from
- 4:31Peter McGratty: the
- 4:31Peter McGratty: institutional
- 4:32Peter McGratty: money
- 4:32Peter McGratty: management
- 4:32Peter McGratty: world,
- 4:34Peter McGratty: in
- 4:34Peter McGratty: back
- 4:34Peter McGratty: around
- 4:35Peter McGratty: 2010
- 4:36Peter McGratty: that
- 4:36Peter McGratty: really
- 4:36Peter McGratty: had
- 4:37Peter McGratty: started,
- 4:38Peter McGratty: the
- 4:38Peter McGratty: independent
- 4:38Peter McGratty: channel
- 4:38Peter McGratty: was
- 4:39Peter McGratty: really
- 4:39Peter McGratty: more
- 4:40Peter McGratty: fully
- 4:40Peter McGratty: formed.
- 4:41Peter McGratty: And
- 4:41Peter McGratty: I
- 4:41Peter McGratty: think
- 4:41Peter McGratty: we
- 4:42Peter McGratty: were
- 4:42Peter McGratty: moving
- 4:42Peter McGratty: into
- 4:42Peter McGratty: the
- 4:42Peter McGratty: second
- 4:43Peter McGratty: evolution
- 4:44Peter McGratty: of
- 4:44Peter McGratty: the
- 4:45Peter McGratty: of
- 4:45Peter McGratty: the
- 4:45Peter McGratty: channel.
- 4:45Peter McGratty: And
- 4:46Peter McGratty: that
- 4:46Peter McGratty: was
- 4:46Peter McGratty: the
- 4:47Peter McGratty: breakaway
- 4:47Peter McGratty: movement
- 4:48Peter McGratty: where.
- 4:49Peter McGratty: a
- 4:49Peter McGratty: sufficient
- 4:50Peter McGratty: the
- 4:50Peter McGratty: independent
- 4:51Peter McGratty: channel
- 4:51Peter McGratty: had
- 4:51Peter McGratty: become
- 4:52Peter McGratty: sufficiently
- 4:52Peter McGratty: established.
- 4:54Peter McGratty: and
- 4:54Peter McGratty: there
- 4:54Peter McGratty: was
- 4:55Peter McGratty: a
- 4:55Peter McGratty: growing
- 4:55Peter McGratty: ecosystem
- 4:56Peter McGratty: of
- 4:56Peter McGratty: firms
- 4:57Peter McGratty: that
- 4:57Peter McGratty: were
- 4:57Peter McGratty: there
- 4:57Peter McGratty: to
- 4:58Peter McGratty: support
- 4:58Peter McGratty: independent
- 5:00Peter McGratty: and
- 5:00Peter McGratty: then
- 5:01Peter McGratty: I
- 5:01Peter McGratty: think
- 5:01Peter McGratty: following
- 5:01Peter McGratty: a
- 5:02Peter McGratty: series
- 5:02Peter McGratty: of
- 5:02Peter McGratty: high
- 5:03Peter McGratty: profile.
- 5:04Peter McGratty: Mistakes
- 5:05Peter McGratty: by
- 5:05Peter McGratty: the
- 5:05Peter McGratty: wirehouses
- 5:06Peter McGratty: or
- 5:06Peter McGratty: conflicts
- 5:07Peter McGratty: by
- 5:07Peter McGratty: the
- 5:07Peter McGratty: wirehouses.
- 5:08Peter McGratty: One
- 5:08Peter McGratty: that
- 5:08Peter McGratty: stands
- 5:09Peter McGratty: out
- 5:09Peter McGratty: in
- 5:09Peter McGratty: my
- 5:09Peter McGratty: mind
- 5:10Peter McGratty: was
- 5:10Peter McGratty: the
- 5:11Peter McGratty: auction
- 5:11Peter McGratty: rate
- 5:11Peter McGratty: preferred
- 5:12Peter McGratty: securities.
- 5:12Peter McGratty: That
- 5:13Peter McGratty: they
- 5:13Peter McGratty: thrust
- 5:13Peter McGratty: down
- 5:14Peter McGratty: their
- 5:14Peter McGratty: client's
- 5:14Peter McGratty: throats
- 5:15Peter McGratty: and
- 5:15Peter McGratty: then
- 5:15Peter McGratty: they
- 5:15Peter McGratty: blew
- 5:15Peter McGratty: up.
- 5:17Peter McGratty: I
- 5:17Peter McGratty: think
- 5:17Peter McGratty: you
- 5:17Peter McGratty: saw
- 5:17Peter McGratty: greater
- 5:18Peter McGratty: and
- 5:18Peter McGratty: greater
- 5:18Peter McGratty: interest
- 5:19Peter McGratty: upon
- 5:20Peter McGratty: by
- 5:20Peter McGratty: the
- 5:21Peter McGratty: wirehouse
- 5:21Peter McGratty: advisors
- 5:22Peter McGratty: to
- 5:22Peter McGratty: start
- 5:22Peter McGratty: to
- 5:23Peter McGratty: consider
- 5:24Peter McGratty: the
- 5:24Peter McGratty: independent
- 5:25Peter McGratty: channel
- 5:25Peter McGratty: as
- 5:25Peter McGratty: an
- 5:25Peter McGratty: option,
- 5:26Peter McGratty: and
- 5:27Peter McGratty: you
- 5:27Peter McGratty: really
- 5:27Peter McGratty: saw
- 5:27Peter McGratty: that
- 5:28Peter McGratty: accelerate
- 5:29Peter McGratty: between
- 5:29Peter McGratty: 2010
- 5:30Peter McGratty: and
- 5:30Peter McGratty: 2020.
- 5:31Peter McGratty: And
- 5:32Peter McGratty: now
- 5:32Peter McGratty: I
- 5:32Peter McGratty: think
- 5:32Peter McGratty: and
- 5:32Peter McGratty: now
- 5:33Peter McGratty: I
- 5:33Peter McGratty: think
- 5:33Peter McGratty: the
- 5:33Peter McGratty: reason
- 5:33Peter McGratty: you
- 5:33Peter McGratty: and
- 5:34Peter McGratty: I
- 5:34Peter McGratty: are
- 5:34Peter McGratty: talking
- 5:34Peter McGratty: and
- 5:34Peter McGratty: we
- 5:35Peter McGratty: can
- 5:35Peter McGratty: talk
- 5:35Peter McGratty: about
- 5:35Peter McGratty: this
- 5:35Peter McGratty: some
- 5:36Peter McGratty: more
- 5:36Peter McGratty: when
- 5:36Peter McGratty: the
- 5:36Peter McGratty: time
- 5:36Peter McGratty: comes,
- 5:37Peter McGratty: I
- 5:37Peter McGratty: think
- 5:38Peter McGratty: we're
- 5:38Peter McGratty: on
- 5:38Peter McGratty: the
- 5:38Peter McGratty: precipice
- 5:39Peter McGratty: of
- 5:39Peter McGratty: a,
- 5:40Peter McGratty: of
- 5:40Peter McGratty: a
- 5:40Peter McGratty: third
- 5:40Peter McGratty: evolution,
- 5:41Peter McGratty: and
- 5:42Peter McGratty: that
- 5:42Peter McGratty: evolution
- 5:43Peter McGratty: is
- 5:43Peter McGratty: gonna
- 5:43Peter McGratty: redefine
- 5:44Peter McGratty: the
- 5:44Peter McGratty: independent
- 5:45Peter McGratty: channel.
- 5:47Ryan: Yeah,
- 5:47Ryan: we
- 5:47Ryan: are
- 5:47Ryan: definitely,
- 5:48Ryan: let's,
- 5:48Ryan: yeah,
- 5:48Ryan: let's
- 5:48Ryan: go
- 5:49Ryan: there.
- 5:50Ryan: Pete,
- 5:50Ryan: I
- 5:50Ryan: think
- 5:50Ryan: that's
- 5:51Ryan: a
- 5:51Ryan: perfect
- 5:51Ryan: segue
- 5:52Ryan: and,
- 5:52Ryan: and
- 5:52Ryan: the
- 5:52Ryan: evolution
- 5:53Ryan: of
- 5:53Ryan: the
- 5:53Ryan: space
- 5:54Ryan: is,
- 5:54Ryan: is
- 5:54Ryan: spot
- 5:54Ryan: on.
- 5:55Ryan: I
- 5:56Ryan: think
- 5:56Ryan: you
- 5:56Ryan: what,
- 5:58Ryan: let's
- 5:58Ryan: talk
- 5:58Ryan: about
- 5:58Ryan: the
- 5:58Ryan: independent
- 5:59Ryan: space
- 6:00Ryan: is
- 6:02Ryan: it's
- 6:02Ryan: one
- 6:02Ryan: of
- 6:02Ryan: the
- 6:02Ryan: hottest
- 6:03Ryan: topics
- 6:03Ryan: now,
- 6:03Ryan: going
- 6:04Ryan: independent,
- 6:04Ryan: as
- 6:05Ryan: you
- 6:05Ryan: mentioned,
- 6:06Ryan: what
- 6:07Ryan: isn't
- 6:07Ryan: being
- 6:07Ryan: talked
- 6:08Ryan: about
- 6:08Ryan: in
- 6:08Ryan: the
- 6:08Ryan: independent
- 6:09Ryan: space,
- 6:09Ryan: everyone
- 6:10Ryan: talks
- 6:10Ryan: about
- 6:10Ryan: just.
- 6:11Ryan: You
- 6:11Ryan: go
- 6:12Ryan: independent
- 6:12Ryan: or
- 6:13Ryan: not?
- 6:13Ryan: A
- 6:13Ryan: lot
- 6:14Ryan: of
- 6:14Ryan: talk
- 6:14Ryan: about
- 6:14Ryan: m
- 6:14Ryan: and
- 6:15Ryan: a
- 6:15Ryan: activity
- 6:15Ryan: right
- 6:16Ryan: now,
- 6:16Ryan: but
- 6:16Ryan: is
- 6:16Ryan: there
- 6:17Ryan: an
- 6:17Ryan: aspect
- 6:17Ryan: to
- 6:18Ryan: going
- 6:19Ryan: independent
- 6:19Ryan: or
- 6:20Ryan: being
- 6:20Ryan: independent
- 6:21Ryan: that
- 6:21Ryan: maybe
- 6:21Ryan: he's
- 6:21Ryan: not
- 6:21Ryan: talked
- 6:22Ryan: enough
- 6:22Ryan: about
- 6:22Ryan: that
- 6:23Ryan: is
- 6:24Ryan: kind
- 6:24Ryan: of
- 6:24Ryan: behind
- 6:24Ryan: the
- 6:24Ryan: scenes?
- 6:26Peter McGratty: Yeah.
- 6:26Peter McGratty: I
- 6:26Peter McGratty: really
- 6:26Peter McGratty: think
- 6:27Peter McGratty: it's
- 6:27Peter McGratty: this
- 6:27Peter McGratty: idea
- 6:28Peter McGratty: that
- 6:28Peter McGratty: we're
- 6:28Peter McGratty: on
- 6:28Peter McGratty: the
- 6:28Peter McGratty: precipice
- 6:29Peter McGratty: of
- 6:29Peter McGratty: another
- 6:30Peter McGratty: evolution
- 6:31Peter McGratty: of
- 6:31Peter McGratty: the
- 6:31Peter McGratty: channel
- 6:32Peter McGratty: and
- 6:32Peter McGratty: what
- 6:32Peter McGratty: I
- 6:32Peter McGratty: mean
- 6:32Peter McGratty: by
- 6:32Peter McGratty: that
- 6:33Peter McGratty: is,
- 6:35Peter McGratty: You
- 6:35Peter McGratty: know,
- 6:35Peter McGratty: if
- 6:35Peter McGratty: you
- 6:35Peter McGratty: go
- 6:36Peter McGratty: back
- 6:36Peter McGratty: to
- 6:36Peter McGratty: 2010
- 6:37Peter McGratty: and
- 6:38Peter McGratty: 2010
- 6:38Peter McGratty: to
- 6:38Peter McGratty: 2020,
- 6:39Peter McGratty: what
- 6:40Peter McGratty: you
- 6:40Peter McGratty: found
- 6:40Peter McGratty: is
- 6:40Peter McGratty: a
- 6:40Peter McGratty: lot
- 6:40Peter McGratty: of
- 6:41Peter McGratty: these
- 6:41Peter McGratty: advisors
- 6:41Peter McGratty: had
- 6:42Peter McGratty: gone
- 6:42Peter McGratty: independent
- 6:43Peter McGratty: and
- 6:43Peter McGratty: they
- 6:43Peter McGratty: really
- 6:44Peter McGratty: liked
- 6:44Peter McGratty: it.
- 6:45Peter McGratty: For
- 6:45Peter McGratty: the
- 6:45Peter McGratty: first
- 6:45Peter McGratty: time,
- 6:46Peter McGratty: they
- 6:46Peter McGratty: had
- 6:46Peter McGratty: the
- 6:46Peter McGratty: freedom
- 6:47Peter McGratty: to
- 6:47Peter McGratty: do
- 6:47Peter McGratty: what
- 6:47Peter McGratty: they
- 6:47Peter McGratty: wanted
- 6:48Peter McGratty: to
- 6:48Peter McGratty: do.
- 6:48Peter McGratty: They
- 6:48Peter McGratty: had
- 6:48Peter McGratty: the
- 6:48Peter McGratty: freedom
- 6:49Peter McGratty: to
- 6:49Peter McGratty: do
- 6:49Peter McGratty: the
- 6:49Peter McGratty: things
- 6:50Peter McGratty: that
- 6:50Peter McGratty: they
- 6:50Peter McGratty: saw
- 6:51Peter McGratty: were
- 6:51Peter McGratty: necessary
- 6:52Peter McGratty: to
- 6:52Peter McGratty: take
- 6:52Peter McGratty: care
- 6:52Peter McGratty: of
- 6:52Peter McGratty: their
- 6:53Peter McGratty: clients.
- 6:54Peter McGratty: I
- 6:54Peter McGratty: think
- 6:54Peter McGratty: they
- 6:54Peter McGratty: liked.
- 6:55Peter McGratty: The
- 6:55Peter McGratty: idea
- 6:56Peter McGratty: of
- 6:56Peter McGratty: a
- 6:56Peter McGratty: fiduciary
- 6:57Peter McGratty: duty
- 6:57Peter McGratty: where
- 6:57Peter McGratty: they
- 6:58Peter McGratty: can
- 6:58Peter McGratty: do
- 6:58Peter McGratty: well
- 6:59Peter McGratty: by
- 6:59Peter McGratty: doing
- 6:59Peter McGratty: right
- 7:00Peter McGratty: by
- 7:00Peter McGratty: their
- 7:00Peter McGratty: client
- 7:01Peter McGratty: and
- 7:01Peter McGratty: being
- 7:01Peter McGratty: fully
- 7:01Peter McGratty: aligned
- 7:02Peter McGratty: with
- 7:02Peter McGratty: them.
- 7:02Peter McGratty: And
- 7:03Peter McGratty: it
- 7:03Peter McGratty: was
- 7:03Peter McGratty: also
- 7:03Peter McGratty: a
- 7:03Peter McGratty: fantastic
- 7:05Peter McGratty: sort
- 7:05Peter McGratty: of
- 7:05Peter McGratty: a
- 7:05Peter McGratty: marketing
- 7:06Peter McGratty: differentiator
- 7:07Peter McGratty: versus
- 7:08Peter McGratty: the
- 7:08Peter McGratty: world
- 7:08Peter McGratty: that
- 7:08Peter McGratty: they'd
- 7:08Peter McGratty: come
- 7:09Peter McGratty: from
- 7:09Peter McGratty: in
- 7:09Peter McGratty: the
- 7:09Peter McGratty: wirehouses.
- 7:10Peter McGratty: And
- 7:11Peter McGratty: so
- 7:11Peter McGratty: most
- 7:11Peter McGratty: of
- 7:11Peter McGratty: them
- 7:11Peter McGratty: were.
- 7:13Peter McGratty: Very
- 7:13Peter McGratty: happy
- 7:14Peter McGratty: and
- 7:14Peter McGratty: saw
- 7:15Peter McGratty: a
- 7:15Peter McGratty: long
- 7:15Peter McGratty: future
- 7:16Peter McGratty: ahead
- 7:16Peter McGratty: of
- 7:16Peter McGratty: them.
- 7:17Peter McGratty: And
- 7:17Peter McGratty: I
- 7:17Peter McGratty: would
- 7:17Peter McGratty: describe
- 7:18Peter McGratty: them
- 7:18Peter McGratty: as
- 7:18Peter McGratty: all
- 7:19Peter McGratty: wanting
- 7:19Peter McGratty: to
- 7:19Peter McGratty: die
- 7:19Peter McGratty: with
- 7:19Peter McGratty: their
- 7:20Peter McGratty: boots
- 7:20Peter McGratty: on.
- 7:21Peter McGratty: And
- 7:21Peter McGratty: so
- 7:21Peter McGratty: during
- 7:21Peter McGratty: that
- 7:22Peter McGratty: that
- 7:22Peter McGratty: period
- 7:23Peter McGratty: from
- 7:23Peter McGratty: 2010
- 7:23Peter McGratty: to
- 7:24Peter McGratty: 2020
- 7:25Peter McGratty: as
- 7:25Peter McGratty: private
- 7:26Peter McGratty: equity
- 7:26Peter McGratty: started
- 7:26Peter McGratty: to
- 7:26Peter McGratty: become
- 7:27Peter McGratty: more
- 7:27Peter McGratty: interested
- 7:28Peter McGratty: in
- 7:28Peter McGratty: this
- 7:28Peter McGratty: business
- 7:29Peter McGratty: model
- 7:29Peter McGratty: and
- 7:30Peter McGratty: consolidating
- 7:31Peter McGratty: the
- 7:31Peter McGratty: independent.
- 7:33Peter McGratty: wealth
- 7:33Peter McGratty: managers,
- 7:34Peter McGratty: there
- 7:34Peter McGratty: wasn't
- 7:35Peter McGratty: as
- 7:35Peter McGratty: much
- 7:35Peter McGratty: interest
- 7:36Peter McGratty: on
- 7:36Peter McGratty: the
- 7:36Peter McGratty: part
- 7:36Peter McGratty: of
- 7:36Peter McGratty: the
- 7:36Peter McGratty: advisors.
- 7:37Peter McGratty: They
- 7:37Peter McGratty: were
- 7:37Peter McGratty: happy
- 7:38Peter McGratty: with
- 7:38Peter McGratty: the
- 7:38Peter McGratty: new
- 7:38Peter McGratty: world
- 7:38Peter McGratty: that
- 7:39Peter McGratty: they'd
- 7:39Peter McGratty: found
- 7:39Peter McGratty: and
- 7:39Peter McGratty: created
- 7:40Peter McGratty: and
- 7:40Peter McGratty: weren't
- 7:41Peter McGratty: really
- 7:41Peter McGratty: looking
- 7:41Peter McGratty: to
- 7:42Peter McGratty: exit.
- 7:43Peter McGratty: but
- 7:43Peter McGratty: of
- 7:43Peter McGratty: course,
- 7:45Peter McGratty: as
- 7:45Peter McGratty: we
- 7:45Peter McGratty: all
- 7:45Peter McGratty: know,
- 7:45Peter McGratty: the
- 7:46Peter McGratty: average
- 7:46Peter McGratty: age
- 7:46Peter McGratty: of
- 7:46Peter McGratty: an
- 7:46Peter McGratty: advisor
- 7:47Peter McGratty: today
- 7:47Peter McGratty: is
- 7:48Peter McGratty: 58
- 7:48Peter McGratty: or
- 7:49Peter McGratty: 60,
- 7:49Peter McGratty: depending
- 7:50Peter McGratty: on
- 7:50Peter McGratty: the
- 7:50Peter McGratty: survey
- 7:50Peter McGratty: you
- 7:50Peter McGratty: look
- 7:51Peter McGratty: at.
- 7:52Peter McGratty: so
- 7:52Peter McGratty: as
- 7:53Peter McGratty: the
- 7:53Peter McGratty: decade
- 7:53Peter McGratty: progressed,
- 7:54Peter McGratty: there
- 7:54Peter McGratty: were
- 7:54Peter McGratty: more
- 7:54Peter McGratty: and
- 7:55Peter McGratty: more
- 7:55Peter McGratty: folks
- 7:55Peter McGratty: approaching
- 7:56Peter McGratty: retirement.
- 7:57Peter McGratty: And
- 7:57Peter McGratty: some
- 7:57Peter McGratty: of
- 7:58Peter McGratty: the
- 7:58Peter McGratty: multiples
- 7:58Peter McGratty: that
- 7:58Peter McGratty: were
- 7:59Peter McGratty: being
- 7:59Peter McGratty: offered
- 7:59Peter McGratty: by
- 8:00Peter McGratty: these
- 8:00Peter McGratty: consolidators
- 8:01Peter McGratty: became
- 8:02Peter McGratty: more
- 8:02Peter McGratty: and
- 8:02Peter McGratty: more
- 8:02Peter McGratty: attractive.
- 8:04Peter McGratty: And
- 8:04Peter McGratty: so
- 8:05Peter McGratty: over
- 8:05Peter McGratty: the
- 8:05Peter McGratty: decade,
- 8:06Peter McGratty: some
- 8:06Peter McGratty: of
- 8:07Peter McGratty: these
- 8:07Peter McGratty: consolidators
- 8:08Peter McGratty: went
- 8:08Peter McGratty: from
- 8:08Peter McGratty: being
- 8:09Peter McGratty: smaller,
- 8:10Peter McGratty: relatively
- 8:11Peter McGratty: smaller
- 8:12Peter McGratty: to
- 8:12Peter McGratty: some
- 8:12Peter McGratty: of
- 8:13Peter McGratty: them
- 8:13Peter McGratty: have
- 8:13Peter McGratty: become
- 8:13Peter McGratty: quite
- 8:14Peter McGratty: large.
- 8:15Peter McGratty: And
- 8:15Peter McGratty: now
- 8:15Peter McGratty: that
- 8:16Peter McGratty: they
- 8:16Peter McGratty: have
- 8:16Peter McGratty: become
- 8:16Peter McGratty: quite
- 8:17Peter McGratty: large.
- 8:18Peter McGratty: There's
- 8:18Peter McGratty: sort
- 8:19Peter McGratty: of
- 8:19Peter McGratty: two
- 8:19Peter McGratty: dynamics
- 8:20Peter McGratty: that
- 8:20Peter McGratty: folks
- 8:21Peter McGratty: have
- 8:21Peter McGratty: been
- 8:21Peter McGratty: dancing
- 8:21Peter McGratty: around
- 8:22Peter McGratty: for
- 8:22Peter McGratty: the
- 8:22Peter McGratty: last
- 8:22Peter McGratty: few
- 8:23Peter McGratty: years.
- 8:24Peter McGratty: that
- 8:24Peter McGratty: is
- 8:25Peter McGratty: one
- 8:26Peter McGratty: that
- 8:26Peter McGratty: these
- 8:26Peter McGratty: firms,
- 8:27Peter McGratty: as
- 8:27Peter McGratty: they've
- 8:27Peter McGratty: gotten
- 8:27Peter McGratty: larger,
- 8:28Peter McGratty: they
- 8:28Peter McGratty: have
- 8:28Peter McGratty: the
- 8:28Peter McGratty: scale.
- 8:29Peter McGratty: To
- 8:29Peter McGratty: invest
- 8:30Peter McGratty: in
- 8:30Peter McGratty: resources
- 8:31Peter McGratty: and
- 8:32Peter McGratty: expand
- 8:32Peter McGratty: their
- 8:33Peter McGratty: menu
- 8:33Peter McGratty: of
- 8:33Peter McGratty: solutions
- 8:34Peter McGratty: to
- 8:34Peter McGratty: clients
- 8:35Peter McGratty: that
- 8:35Peter McGratty: some
- 8:35Peter McGratty: of
- 8:36Peter McGratty: the
- 8:36Peter McGratty: smaller
- 8:36Peter McGratty: independent
- 8:37Peter McGratty: firms
- 8:37Peter McGratty: just
- 8:37Peter McGratty: don't
- 8:38Peter McGratty: have
- 8:38Peter McGratty: the
- 8:38Peter McGratty: scale
- 8:38Peter McGratty: and
- 8:38Peter McGratty: don't
- 8:39Peter McGratty: have
- 8:39Peter McGratty: some
- 8:39Peter McGratty: of
- 8:39Peter McGratty: those
- 8:39Peter McGratty: resources.
- 8:40Peter McGratty: So
- 8:40Peter McGratty: that's
- 8:40Peter McGratty: one
- 8:41Peter McGratty: delta.
- 8:42Peter McGratty: And
- 8:42Peter McGratty: then
- 8:42Peter McGratty: the
- 8:42Peter McGratty: second,
- 8:43Peter McGratty: I
- 8:43Peter McGratty: think
- 8:43Peter McGratty: more
- 8:43Peter McGratty: important
- 8:44Peter McGratty: one
- 8:44Peter McGratty: is
- 8:44Peter McGratty: the
- 8:45Peter McGratty: rec
- 8:45Peter McGratty: growing
- 8:45Peter McGratty: recognition.
- 8:47Peter McGratty: That
- 8:47Peter McGratty: the
- 8:47Peter McGratty: two
- 8:47Peter McGratty: types
- 8:48Peter McGratty: of
- 8:48Peter McGratty: firms,
- 8:48Peter McGratty: the
- 8:49Peter McGratty: independent
- 8:49Peter McGratty: and
- 8:49Peter McGratty: the
- 8:50Peter McGratty: consolidator,
- 8:51Peter McGratty: have
- 8:51Peter McGratty: different
- 8:52Peter McGratty: agendas,
- 8:52Peter McGratty: they
- 8:52Peter McGratty: have
- 8:53Peter McGratty: different
- 8:53Peter McGratty: goals,
- 8:53Peter McGratty: they
- 8:53Peter McGratty: have
- 8:54Peter McGratty: different
- 8:54Peter McGratty: values.
- 8:56Peter McGratty: what
- 8:56Peter McGratty: do
- 8:56Peter McGratty: I
- 8:56Peter McGratty: mean
- 8:56Peter McGratty: by
- 8:57Peter McGratty: that?
- 8:57Peter McGratty: The
- 8:57Peter McGratty: the
- 8:57Peter McGratty: consolidators
- 8:59Peter McGratty: are
- 8:59Peter McGratty: really
- 9:00Peter McGratty: driven,
- 9:00Peter McGratty: a
- 9:00Peter McGratty: much
- 9:00Peter McGratty: more
- 9:01Peter McGratty: institutional
- 9:02Peter McGratty: p
- 9:02Peter McGratty: and
- 9:03Peter McGratty: l
- 9:03Peter McGratty: type
- 9:03Peter McGratty: model.
- 9:03Peter McGratty: They're
- 9:04Peter McGratty: looking
- 9:04Peter McGratty: to
- 9:04Peter McGratty: grow
- 9:04Peter McGratty: profits.
- 9:06Peter McGratty: They're
- 9:06Peter McGratty: looking
- 9:06Peter McGratty: to
- 9:06Peter McGratty: grow
- 9:07Peter McGratty: they're
- 9:07Peter McGratty: looking
- 9:07Peter McGratty: to
- 9:07Peter McGratty: grow
- 9:07Peter McGratty: revenues.
- 9:08Peter McGratty: They're
- 9:08Peter McGratty: looking
- 9:08Peter McGratty: to
- 9:08Peter McGratty: grow
- 9:09Peter McGratty: profits.
- 9:10Peter McGratty: They're
- 9:10Peter McGratty: looking
- 9:10Peter McGratty: to
- 9:10Peter McGratty: grow
- 9:10Peter McGratty: the
- 9:11Peter McGratty: firm
- 9:11Peter McGratty: with
- 9:11Peter McGratty: the
- 9:11Peter McGratty: idea
- 9:12Peter McGratty: of
- 9:12Peter McGratty: ultimately,
- 9:13Peter McGratty: selling
- 9:14Peter McGratty: out
- 9:14Peter McGratty: to
- 9:14Peter McGratty: another
- 9:15Peter McGratty: private
- 9:15Peter McGratty: equity
- 9:15Peter McGratty: firm
- 9:16Peter McGratty: or
- 9:16Peter McGratty: going
- 9:16Peter McGratty: public
- 9:17Peter McGratty: at
- 9:17Peter McGratty: some
- 9:17Peter McGratty: point
- 9:18Peter McGratty: down
- 9:18Peter McGratty: the
- 9:18Peter McGratty: road.
- 9:19Peter McGratty: So
- 9:19Peter McGratty: they
- 9:19Peter McGratty: have
- 9:19Peter McGratty: a
- 9:19Peter McGratty: very,
- 9:20Peter McGratty: they're
- 9:20Peter McGratty: very
- 9:20Peter McGratty: focused
- 9:21Peter McGratty: on
- 9:21Peter McGratty: running
- 9:21Peter McGratty: a
- 9:22Peter McGratty: business.
- 9:23Peter McGratty: I
- 9:23Peter McGratty: think
- 9:23Peter McGratty: that
- 9:24Peter McGratty: the
- 9:25Peter McGratty: traditional
- 9:25Peter McGratty: independent
- 9:26Peter McGratty: wealth
- 9:26Peter McGratty: management
- 9:27Peter McGratty: firm,
- 9:27Peter McGratty: of
- 9:27Peter McGratty: course
- 9:28Peter McGratty: they're
- 9:28Peter McGratty: also
- 9:28Peter McGratty: running
- 9:29Peter McGratty: a
- 9:29Peter McGratty: business,
- 9:29Peter McGratty: but
- 9:30Peter McGratty: their
- 9:30Peter McGratty: priorities
- 9:31Peter McGratty: their
- 9:31Peter McGratty: values
- 9:32Peter McGratty: are
- 9:32Peter McGratty: very
- 9:32Peter McGratty: different.
- 9:34Peter McGratty: on.
- 9:36Peter McGratty: First
- 9:36Peter McGratty: on
- 9:37Peter McGratty: on
- 9:37Peter McGratty: the
- 9:37Peter McGratty: client,
- 9:38Peter McGratty: and
- 9:38Peter McGratty: really
- 9:38Peter McGratty: try
- 9:39Peter McGratty: and
- 9:39Peter McGratty: have
- 9:39Peter McGratty: a
- 9:39Peter McGratty: relationship
- 9:40Peter McGratty: with
- 9:40Peter McGratty: the
- 9:40Peter McGratty: client
- 9:40Peter McGratty: and
- 9:41Peter McGratty: taking
- 9:41Peter McGratty: care
- 9:41Peter McGratty: of
- 9:41Peter McGratty: that
- 9:42Peter McGratty: client.
- 9:42Peter McGratty: And
- 9:43Peter McGratty: for
- 9:43Peter McGratty: most
- 9:43Peter McGratty: of
- 9:43Peter McGratty: these
- 9:44Peter McGratty: folks,
- 9:44Peter McGratty: those
- 9:44Peter McGratty: clients
- 9:45Peter McGratty: over
- 9:45Peter McGratty: time
- 9:45Peter McGratty: become
- 9:46Peter McGratty: almost
- 9:46Peter McGratty: friend.
- 9:47Peter McGratty: Not
- 9:47Peter McGratty: only
- 9:47Peter McGratty: friends,
- 9:47Peter McGratty: but
- 9:47Peter McGratty: almost
- 9:48Peter McGratty: family.
- 9:49Peter McGratty: and
- 9:50Peter McGratty: secondly,
- 9:50Peter McGratty: they've
- 9:50Peter McGratty: remained
- 9:51Peter McGratty: very
- 9:51Peter McGratty: focused
- 9:52Peter McGratty: on.
- 9:52Peter McGratty: On
- 9:53Peter McGratty: planning
- 9:53Peter McGratty: and
- 9:53Peter McGratty: providing
- 9:54Peter McGratty: a
- 9:54Peter McGratty: very
- 9:54Peter McGratty: strong
- 9:56Peter McGratty: planning
- 9:56Peter McGratty: and
- 9:56Peter McGratty: investment
- 9:57Peter McGratty: solution
- 9:57Peter McGratty: for
- 9:57Peter McGratty: their
- 9:58Peter McGratty: clients.
- 9:59Peter McGratty: And
- 9:59Peter McGratty: so
- 9:59Peter McGratty: their
- 9:59Peter McGratty: values
- 10:00Peter McGratty: are
- 10:00Peter McGratty: very
- 10:00Peter McGratty: different.
- 10:01Peter McGratty: One
- 10:01Peter McGratty: is
- 10:01Peter McGratty: very
- 10:02Peter McGratty: much
- 10:02Peter McGratty: to
- 10:02Peter McGratty: grow
- 10:03Peter McGratty: and
- 10:03Peter McGratty: get
- 10:03Peter McGratty: bigger
- 10:03Peter McGratty: and
- 10:04Peter McGratty: to
- 10:04Peter McGratty: monetize
- 10:05Peter McGratty: the
- 10:05Peter McGratty: success
- 10:06Peter McGratty: of
- 10:06Peter McGratty: that
- 10:06Peter McGratty: growth.
- 10:07Peter McGratty: And
- 10:07Peter McGratty: the
- 10:07Peter McGratty: other
- 10:08Peter McGratty: is
- 10:08Peter McGratty: really
- 10:08Peter McGratty: still
- 10:08Peter McGratty: focused
- 10:09Peter McGratty: on
- 10:10Peter McGratty: client
- 10:10Peter McGratty: first,
- 10:11Peter McGratty: planning
- 10:11Peter McGratty: first.
- 10:13Peter McGratty: So
- 10:13Peter McGratty: to
- 10:13Peter McGratty: tie
- 10:13Peter McGratty: it
- 10:13Peter McGratty: back
- 10:14Peter McGratty: to
- 10:14Peter McGratty: your
- 10:14Peter McGratty: question,
- 10:15Peter McGratty: this
- 10:15Peter McGratty: next
- 10:16Peter McGratty: evolution,
- 10:16Peter McGratty: we've
- 10:17Peter McGratty: now
- 10:17Peter McGratty: reached
- 10:17Peter McGratty: a
- 10:17Peter McGratty: point
- 10:18Peter McGratty: where
- 10:18Peter McGratty: the
- 10:18Peter McGratty: large
- 10:18Peter McGratty: firms.
- 10:19Peter McGratty: a
- 10:20Peter McGratty: competitive
- 10:20Peter McGratty: advantage
- 10:21Peter McGratty: because
- 10:21Peter McGratty: of
- 10:21Peter McGratty: their
- 10:21Peter McGratty: scale.
- 10:23Peter McGratty: And
- 10:23Peter McGratty: that's
- 10:24Peter McGratty: starting
- 10:24Peter McGratty: to
- 10:24Peter McGratty: create
- 10:25Peter McGratty: differences
- 10:25Peter McGratty: that
- 10:26Peter McGratty: folks
- 10:26Peter McGratty: need
- 10:26Peter McGratty: to
- 10:26Peter McGratty: address.
- 10:27Peter McGratty: And
- 10:28Peter McGratty: secondly,
- 10:29Peter McGratty: recognition
- 10:30Peter McGratty: that
- 10:31Peter McGratty: there's
- 10:31Peter McGratty: two
- 10:32Peter McGratty: very
- 10:32Peter McGratty: different
- 10:32Peter McGratty: value
- 10:33Peter McGratty: sets.
- 10:34Peter McGratty: And
- 10:34Peter McGratty: so
- 10:34Peter McGratty: the
- 10:34Peter McGratty: question
- 10:35Peter McGratty: is
- 10:35Peter McGratty: how
- 10:35Peter McGratty: does,
- 10:35Peter McGratty: how
- 10:36Peter McGratty: do
- 10:36Peter McGratty: we
- 10:37Peter McGratty: how
- 10:38Peter McGratty: does
- 10:38Peter McGratty: the
- 10:38Peter McGratty: independent
- 10:39Peter McGratty: channel
- 10:39Peter McGratty: respond
- 10:40Peter McGratty: to
- 10:40Peter McGratty: those
- 10:41Peter McGratty: differences?
- 10:43Ryan: Well,
- 10:43Ryan: let's
- 10:44Ryan: talk
- 10:44Ryan: about
- 10:44Ryan: those
- 10:44Ryan: differences.
- 10:45Ryan: PE.
- 10:46Ryan: Mentioned
- 10:47Ryan: the
- 10:47Ryan: different
- 10:47Ryan: value
- 10:48Ryan: sets,
- 10:48Ryan: which
- 10:49Ryan: I
- 10:49Ryan: think
- 10:49Ryan: make
- 10:49Ryan: a
- 10:49Ryan: lot
- 10:50Ryan: of
- 10:50Ryan: sense.
- 10:50Ryan: And
- 10:50Ryan: exactly
- 10:51Ryan: what
- 10:51Ryan: you
- 10:51Ryan: said,
- 10:52Ryan: the
- 10:52Ryan: independent
- 10:52Ryan: side,
- 10:53Ryan: they're
- 10:53Ryan: more
- 10:53Ryan: about,
- 10:54Ryan: the
- 10:54Ryan: planning,
- 10:55Ryan: their
- 10:55Ryan: clients
- 10:55Ryan: become
- 10:56Ryan: family,
- 10:57Ryan: whereas
- 10:57Ryan: more
- 10:58Ryan: of
- 10:58Ryan: the
- 10:58Ryan: consolidators
- 10:59Ryan: they,
- 10:59Ryan: are
- 10:59Ryan: looking
- 11:00Ryan: to
- 11:00Ryan: grow
- 11:01Ryan: and,
- 11:01Ryan: to
- 11:01Ryan: increase
- 11:02Ryan: their
- 11:02Ryan: multiples,
- 11:03Ryan: so
- 11:03Ryan: there's
- 11:03Ryan: different
- 11:04Ryan: values.
- 11:04Ryan: How
- 11:04Ryan: do
- 11:05Ryan: you
- 11:05Ryan: really
- 11:05Ryan: distinguish
- 11:06Ryan: the
- 11:07Ryan: two
- 11:07Ryan: the
- 11:07Ryan: consolidators
- 11:08Ryan: from
- 11:09Ryan: the
- 11:09Ryan: independence?
- 11:10Peter McGratty: So
- 11:11Peter McGratty: in
- 11:11Peter McGratty: terms
- 11:11Peter McGratty: of,
- 11:12Peter McGratty: like
- 11:12Peter McGratty: I
- 11:12Peter McGratty: said,
- 11:12Peter McGratty: there's
- 11:12Peter McGratty: two
- 11:13Peter McGratty: sort
- 11:13Peter McGratty: of
- 11:13Peter McGratty: two
- 11:14Peter McGratty: ways
- 11:14Peter McGratty: that
- 11:14Peter McGratty: I
- 11:14Peter McGratty: think
- 11:15Peter McGratty: about
- 11:15Peter McGratty: the
- 11:15Peter McGratty: issue.
- 11:15Peter McGratty: One
- 11:16Peter McGratty: is
- 11:16Peter McGratty: scale.
- 11:17Peter McGratty: So
- 11:17Peter McGratty: clearly
- 11:18Peter McGratty: the
- 11:18Peter McGratty: consolidators
- 11:19Peter McGratty: these
- 11:19Peter McGratty: days
- 11:19Peter McGratty: have
- 11:19Peter McGratty: become
- 11:20Peter McGratty: very
- 11:20Peter McGratty: large
- 11:21Peter McGratty: and
- 11:21Peter McGratty: they
- 11:21Peter McGratty: have
- 11:21Peter McGratty: more
- 11:21Peter McGratty: resources
- 11:23Peter McGratty: which
- 11:23Peter McGratty: means
- 11:23Peter McGratty: they
- 11:23Peter McGratty: can
- 11:24Peter McGratty: invest
- 11:25Peter McGratty: in
- 11:25Peter McGratty: technology
- 11:26Peter McGratty: to
- 11:26Peter McGratty: facilitate
- 11:27Peter McGratty: operations
- 11:27Peter McGratty: and
- 11:28Peter McGratty: administration.
- 11:29Peter McGratty: can
- 11:29Peter McGratty: also
- 11:30Peter McGratty: invest
- 11:30Peter McGratty: in
- 11:30Peter McGratty: resources
- 11:31Peter McGratty: like
- 11:32Peter McGratty: having.
- 11:34Peter McGratty: Multiple
- 11:35Peter McGratty: investment
- 11:35Peter McGratty: options
- 11:36Peter McGratty: on
- 11:36Peter McGratty: the
- 11:36Peter McGratty: menu
- 11:37Peter McGratty: which
- 11:38Peter McGratty: could
- 11:38Peter McGratty: range
- 11:38Peter McGratty: from
- 11:39Peter McGratty: passive
- 11:40Peter McGratty: to
- 11:40Peter McGratty: passive
- 11:41Peter McGratty: plus
- 11:41Peter McGratty: to
- 11:41Peter McGratty: active
- 11:42Peter McGratty: strategies
- 11:43Peter McGratty: could
- 11:43Peter McGratty: range
- 11:44Peter McGratty: from
- 11:44Peter McGratty: portfolios
- 11:45Peter McGratty: that
- 11:45Peter McGratty: own
- 11:46Peter McGratty: ETFs
- 11:47Peter McGratty: or
- 11:47Peter McGratty: mutual
- 11:47Peter McGratty: funds
- 11:48Peter McGratty: or
- 11:48Peter McGratty: SMAs.
- 11:49Peter McGratty: And
- 11:49Peter McGratty: then
- 11:49Peter McGratty: more
- 11:50Peter McGratty: recently
- 11:51Peter McGratty: it
- 11:51Peter McGratty: might
- 11:51Peter McGratty: also
- 11:52Peter McGratty: mean.
- 11:53Peter McGratty: Making
- 11:53Peter McGratty: private
- 11:54Peter McGratty: investments
- 11:55Peter McGratty: available
- 11:55Peter McGratty: to
- 11:55Peter McGratty: clients.
- 11:56Peter McGratty: On
- 11:56Peter McGratty: the
- 11:57Peter McGratty: planning
- 11:57Peter McGratty: side,
- 11:57Peter McGratty: it
- 11:58Peter McGratty: also
- 11:58Peter McGratty: may
- 11:58Peter McGratty: mean,
- 11:58Peter McGratty: you
- 11:59Peter McGratty: know,
- 11:59Peter McGratty: you
- 11:59Peter McGratty: can
- 11:59Peter McGratty: do
- 11:59Peter McGratty: some
- 11:59Peter McGratty: more
- 12:00Peter McGratty: sophisticated
- 12:00Peter McGratty: planning.
- 12:01Peter McGratty: In
- 12:01Peter McGratty: some
- 12:01Peter McGratty: cases
- 12:02Peter McGratty: family
- 12:02Peter McGratty: office
- 12:03Peter McGratty: type
- 12:03Peter McGratty: services.
- 12:05Peter McGratty: you're
- 12:05Peter McGratty: starting
- 12:06Peter McGratty: to
- 12:06Peter McGratty: see
- 12:06Peter McGratty: firms
- 12:06Peter McGratty: offer
- 12:07Peter McGratty: tax
- 12:07Peter McGratty: services,
- 12:08Peter McGratty: so
- 12:08Peter McGratty: the
- 12:08Peter McGratty: menus
- 12:09Peter McGratty: are
- 12:09Peter McGratty: expanding
- 12:09Peter McGratty: so
- 12:10Peter McGratty: that's
- 12:10Peter McGratty: one
- 12:10Peter McGratty: big.
- 12:11Peter McGratty: Differentiator
- 12:12Peter McGratty: and
- 12:12Peter McGratty: that
- 12:12Peter McGratty: has
- 12:13Peter McGratty: to
- 12:13Peter McGratty: be
- 12:13Peter McGratty: addressed
- 12:14Peter McGratty: as
- 12:14Peter McGratty: we
- 12:14Peter McGratty: go
- 12:14Peter McGratty: forward.
- 12:15Peter McGratty: But
- 12:15Peter McGratty: the
- 12:15Peter McGratty: values
- 12:15Peter McGratty: question,
- 12:16Peter McGratty: I
- 12:16Peter McGratty: think
- 12:16Peter McGratty: is
- 12:16Peter McGratty: the
- 12:16Peter McGratty: more
- 12:16Peter McGratty: interesting
- 12:17Peter McGratty: one
- 12:18Peter McGratty: that
- 12:18Peter McGratty: you
- 12:18Peter McGratty: ask.
- 12:19Peter McGratty: And
- 12:19Peter McGratty: how
- 12:19Peter McGratty: do
- 12:20Peter McGratty: I
- 12:20Peter McGratty: think
- 12:20Peter McGratty: about
- 12:20Peter McGratty: values?
- 12:21Peter McGratty: I
- 12:21Peter McGratty: really
- 12:21Peter McGratty: think
- 12:21Peter McGratty: of,
- 12:22Peter McGratty: a
- 12:23Peter McGratty: wealth
- 12:23Peter McGratty: management
- 12:23Peter McGratty: firm
- 12:24Peter McGratty: as
- 12:24Peter McGratty: being
- 12:24Peter McGratty: a
- 12:24Peter McGratty: four-legged
- 12:25Peter McGratty: stool.
- 12:27Peter McGratty: The
- 12:27Peter McGratty: first
- 12:27Peter McGratty: leg
- 12:27Peter McGratty: is
- 12:28Peter McGratty: around
- 12:28Peter McGratty: the
- 12:28Peter McGratty: fiduciary
- 12:29Peter McGratty: responsibility
- 12:30Peter McGratty: that
- 12:30Peter McGratty: you
- 12:30Peter McGratty: are
- 12:30Peter McGratty: really
- 12:31Peter McGratty: going
- 12:31Peter McGratty: to
- 12:32Peter McGratty: do
- 12:32Peter McGratty: what's
- 12:32Peter McGratty: in
- 12:32Peter McGratty: the
- 12:32Peter McGratty: best
- 12:33Peter McGratty: interest
- 12:33Peter McGratty: of
- 12:33Peter McGratty: your
- 12:33Peter McGratty: client.
- 12:34Peter McGratty: Not
- 12:35Peter McGratty: only,
- 12:35Peter McGratty: because
- 12:36Peter McGratty: you
- 12:36Peter McGratty: have
- 12:36Peter McGratty: to
- 12:36Peter McGratty: from
- 12:36Peter McGratty: a
- 12:36Peter McGratty: regulatory
- 12:37Peter McGratty: standpoint,
- 12:38Peter McGratty: because
- 12:38Peter McGratty: that's
- 12:38Peter McGratty: what
- 12:38Peter McGratty: you
- 12:39Peter McGratty: believe
- 12:39Peter McGratty: is
- 12:39Peter McGratty: the
- 12:39Peter McGratty: right
- 12:39Peter McGratty: thing
- 12:40Peter McGratty: to
- 12:40Peter McGratty: do.
- 12:41Peter McGratty: So
- 12:41Peter McGratty: no
- 12:41Peter McGratty: conflicts
- 12:42Peter McGratty: of
- 12:42Peter McGratty: interest,
- 12:42Peter McGratty: transparency,
- 12:43Peter McGratty: do
- 12:43Peter McGratty: what's
- 12:44Peter McGratty: best
- 12:44Peter McGratty: for
- 12:44Peter McGratty: the
- 12:44Peter McGratty: client.
- 12:44Peter McGratty: That's
- 12:45Peter McGratty: leg
- 12:45Peter McGratty: number
- 12:45Peter McGratty: one.
- 12:46Peter McGratty: leg
- 12:47Peter McGratty: number
- 12:47Peter McGratty: two,
- 12:48Peter McGratty: is
- 12:48Peter McGratty: to
- 12:48Peter McGratty: have
- 12:49Peter McGratty: a
- 12:49Peter McGratty: proactive
- 12:49Peter McGratty: relationship
- 12:50Peter McGratty: with
- 12:50Peter McGratty: your
- 12:51Peter McGratty: clients,
- 12:51Peter McGratty: which
- 12:51Peter McGratty: means
- 12:53Peter McGratty: I'm
- 12:53Peter McGratty: a
- 12:53Peter McGratty: client
- 12:53Peter McGratty: first
- 12:54Peter McGratty: type.
- 12:55Peter McGratty: I'm
- 12:56Peter McGratty: doing
- 12:56Peter McGratty: what's
- 12:56Peter McGratty: in
- 12:56Peter McGratty: their
- 12:56Peter McGratty: best
- 12:57Peter McGratty: interest.
- 12:58Peter McGratty: I
- 12:58Peter McGratty: have
- 12:58Peter McGratty: limited
- 12:58Peter McGratty: the
- 12:59Peter McGratty: number
- 12:59Peter McGratty: of
- 12:59Peter McGratty: folks
- 12:59Peter McGratty: that
- 13:00Peter McGratty: I
- 13:00Peter McGratty: am
- 13:00Peter McGratty: working
- 13:00Peter McGratty: with
- 13:00Peter McGratty: so
- 13:01Peter McGratty: that
- 13:01Peter McGratty: I
- 13:01Peter McGratty: can
- 13:01Peter McGratty: have
- 13:01Peter McGratty: a
- 13:01Peter McGratty: proactive
- 13:02Peter McGratty: relationship.
- 13:03Peter McGratty: I
- 13:03Peter McGratty: can
- 13:03Peter McGratty: know
- 13:03Peter McGratty: who
- 13:04Peter McGratty: you
- 13:04Peter McGratty: are.
- 13:07Peter McGratty: As
- 13:07Peter McGratty: oppo
- 13:08Peter McGratty: I
- 13:08Peter McGratty: can
- 13:08Peter McGratty: know
- 13:08Peter McGratty: who
- 13:08Peter McGratty: you
- 13:08Peter McGratty: are.
- 13:09Peter McGratty: The
- 13:09Peter McGratty: third
- 13:10Peter McGratty: leg
- 13:10Peter McGratty: is
- 13:10Peter McGratty: the
- 13:10Peter McGratty: planning
- 13:11Peter McGratty: focus
- 13:12Peter McGratty: and
- 13:12Peter McGratty: the
- 13:12Peter McGratty: fourth
- 13:13Peter McGratty: leg
- 13:13Peter McGratty: is
- 13:14Peter McGratty: an
- 13:14Peter McGratty: investment
- 13:14Peter McGratty: focus.
- 13:15Peter McGratty: And
- 13:15Peter McGratty: in
- 13:15Peter McGratty: those
- 13:15Peter McGratty: two,
- 13:16Peter McGratty: those
- 13:16Peter McGratty: are
- 13:16Peter McGratty: planning
- 13:17Peter McGratty: and
- 13:17Peter McGratty: investments
- 13:18Peter McGratty: obviously.
- 13:19Peter McGratty: You
- 13:19Peter McGratty: can
- 13:19Peter McGratty: do,
- 13:20Peter McGratty: you
- 13:20Peter McGratty: know,
- 13:20Peter McGratty: planning
- 13:21Peter McGratty: or
- 13:21Peter McGratty: investment
- 13:22Peter McGratty: light,
- 13:22Peter McGratty: or
- 13:22Peter McGratty: you
- 13:22Peter McGratty: can
- 13:22Peter McGratty: do
- 13:23Peter McGratty: planning
- 13:23Peter McGratty: and
- 13:24Peter McGratty: investment
- 13:25Peter McGratty: strong
- 13:25Peter McGratty: or
- 13:26Peter McGratty: heavy,
- 13:26Peter McGratty: to
- 13:26Peter McGratty: do
- 13:26Peter McGratty: a
- 13:26Peter McGratty: good
- 13:27Peter McGratty: job.
- 13:27Peter McGratty: And
- 13:28Peter McGratty: I
- 13:28Peter McGratty: think
- 13:28Peter McGratty: that's
- 13:28Peter McGratty: the
- 13:28Peter McGratty: best
- 13:29Peter McGratty: way
- 13:29Peter McGratty: to
- 13:29Peter McGratty: evaluate
- 13:30Peter McGratty: it
- 13:30Peter McGratty: because
- 13:30Peter McGratty: what
- 13:30Peter McGratty: you
- 13:30Peter McGratty: find
- 13:31Peter McGratty: is
- 13:31Peter McGratty: the
- 13:31Peter McGratty: traditional
- 13:32Peter McGratty: firms,
- 13:33Peter McGratty: continue
- 13:34Peter McGratty: to
- 13:34Peter McGratty: be
- 13:35Peter McGratty: fiduciary,
- 13:36Peter McGratty: transparent,
- 13:36Peter McGratty: no
- 13:37Peter McGratty: conflicts
- 13:37Peter McGratty: of
- 13:37Peter McGratty: interest.
- 13:39Peter McGratty: some
- 13:39Peter McGratty: of
- 13:39Peter McGratty: the
- 13:39Peter McGratty: larger
- 13:40Peter McGratty: firms
- 13:40Peter McGratty: are
- 13:40Peter McGratty: starting
- 13:41Peter McGratty: to
- 13:41Peter McGratty: offer
- 13:42Peter McGratty: products
- 13:43Peter McGratty: that
- 13:43Peter McGratty: are
- 13:43Peter McGratty: paid
- 13:44Peter McGratty: for
- 13:44Peter McGratty: as
- 13:44Peter McGratty: a
- 13:44Peter McGratty: product,
- 13:45Peter McGratty: so
- 13:45Peter McGratty: there's
- 13:45Peter McGratty: a
- 13:45Peter McGratty: conflict
- 13:46Peter McGratty: of
- 13:46Peter McGratty: interest
- 13:47Peter McGratty: there.
- 13:47Peter McGratty: A
- 13:47Peter McGratty: good
- 13:47Peter McGratty: example
- 13:48Peter McGratty: is
- 13:48Peter McGratty: they
- 13:48Peter McGratty: might
- 13:48Peter McGratty: sell
- 13:48Peter McGratty: insurance,
- 13:51Peter McGratty: separate
- 13:51Peter McGratty: from
- 13:52Peter McGratty: the
- 13:52Peter McGratty: management
- 13:53Peter McGratty: fee
- 13:55Peter McGratty: on
- 13:55Peter McGratty: the
- 13:55Peter McGratty: second
- 13:55Peter McGratty: leg
- 13:56Peter McGratty: in
- 13:56Peter McGratty: terms
- 13:57Peter McGratty: of
- 13:57Peter McGratty: the
- 13:57Peter McGratty: number
- 13:57Peter McGratty: of
- 13:57Peter McGratty: clients
- 13:58Peter McGratty: that
- 13:58Peter McGratty: you
- 13:58Peter McGratty: have.
- 14:00Peter McGratty: I
- 14:00Peter McGratty: think
- 14:00Peter McGratty: Michael
- 14:00Peter McGratty: Kitsis
- 14:01Peter McGratty: has
- 14:01Peter McGratty: done
- 14:01Peter McGratty: a
- 14:01Peter McGratty: lot
- 14:01Peter McGratty: of
- 14:01Peter McGratty: really
- 14:02Peter McGratty: good
- 14:02Peter McGratty: research
- 14:03Peter McGratty: on
- 14:03Peter McGratty: how
- 14:03Peter McGratty: many
- 14:04Peter McGratty: clients
- 14:04Peter McGratty: you
- 14:04Peter McGratty: should
- 14:05Peter McGratty: have,
- 14:05Peter McGratty: and
- 14:05Peter McGratty: history
- 14:05Peter McGratty: suggests
- 14:06Peter McGratty: that,
- 14:07Peter McGratty: any
- 14:08Peter McGratty: individual
- 14:08Peter McGratty: can
- 14:08Peter McGratty: really,
- 14:09Peter McGratty: can
- 14:10Peter McGratty: only
- 14:10Peter McGratty: really
- 14:11Peter McGratty: know
- 14:11Peter McGratty: about
- 14:12Peter McGratty: a
- 14:12Peter McGratty: hundred
- 14:12Peter McGratty: to
- 14:12Peter McGratty: 125
- 14:14Peter McGratty: or
- 14:14Peter McGratty: 150
- 14:14Peter McGratty: clients
- 14:15Peter McGratty: before
- 14:16Peter McGratty: you
- 14:16Peter McGratty: start
- 14:16Peter McGratty: to
- 14:17Peter McGratty: forget
- 14:17Peter McGratty: who
- 14:17Peter McGratty: they
- 14:18Peter McGratty: are.
- 14:20Peter McGratty: And
- 14:20Peter McGratty: I've
- 14:20Peter McGratty: seen
- 14:21Peter McGratty: some
- 14:21Peter McGratty: of
- 14:21Peter McGratty: these
- 14:21Peter McGratty: larger
- 14:22Peter McGratty: firms.
- 14:23Peter McGratty: Stacking
- 14:24Peter McGratty: numbers
- 14:25Peter McGratty: much
- 14:25Peter McGratty: higher
- 14:25Peter McGratty: than
- 14:26Peter McGratty: that
- 14:26Peter McGratty: on
- 14:27Peter McGratty: their
- 14:27Peter McGratty: advisors.
- 14:28Peter McGratty: On
- 14:28Peter McGratty: the
- 14:28Peter McGratty: third
- 14:29Peter McGratty: one,
- 14:29Peter McGratty: in
- 14:29Peter McGratty: terms
- 14:29Peter McGratty: of
- 14:29Peter McGratty: planning,
- 14:30Peter McGratty: there
- 14:30Peter McGratty: are
- 14:30Peter McGratty: clearly
- 14:31Peter McGratty: firms
- 14:31Peter McGratty: that
- 14:31Peter McGratty: are
- 14:32Peter McGratty: very
- 14:32Peter McGratty: planning
- 14:32Peter McGratty: heavy
- 14:33Peter McGratty: where
- 14:33Peter McGratty: the
- 14:34Peter McGratty: advisors
- 14:34Peter McGratty: or
- 14:35Peter McGratty: a
- 14:35Peter McGratty: team
- 14:35Peter McGratty: that
- 14:35Peter McGratty: is
- 14:35Peter McGratty: supporting
- 14:36Peter McGratty: the
- 14:36Peter McGratty: advisor
- 14:37Peter McGratty: believes
- 14:38Peter McGratty: in
- 14:38Peter McGratty: doing
- 14:38Peter McGratty: very
- 14:38Peter McGratty: comprehensive.
- 14:40Peter McGratty: Planning
- 14:40Peter McGratty: and
- 14:41Peter McGratty: doing
- 14:41Peter McGratty: updating
- 14:42Peter McGratty: that
- 14:42Peter McGratty: planning
- 14:42Peter McGratty: over
- 14:43Peter McGratty: the
- 14:43Peter McGratty: client's
- 14:43Peter McGratty: lifecycle.
- 14:45Peter McGratty: also
- 14:45Peter McGratty: seen
- 14:45Peter McGratty: some
- 14:46Peter McGratty: of
- 14:46Peter McGratty: these
- 14:46Peter McGratty: larger
- 14:46Peter McGratty: consolidators
- 14:47Peter McGratty: use
- 14:48Peter McGratty: it
- 14:48Peter McGratty: as
- 14:48Peter McGratty: a
- 14:48Peter McGratty: loss
- 14:48Peter McGratty: leader
- 14:49Peter McGratty: and
- 14:49Peter McGratty: doing
- 14:50Peter McGratty: planning
- 14:50Peter McGratty: light
- 14:51Peter McGratty: upfront
- 14:52Peter McGratty: to
- 14:52Peter McGratty: help
- 14:52Peter McGratty: win
- 14:52Peter McGratty: the
- 14:52Peter McGratty: business
- 14:53Peter McGratty: and
- 14:53Peter McGratty: bring
- 14:53Peter McGratty: the
- 14:53Peter McGratty: assets
- 14:54Peter McGratty: on
- 14:54Peter McGratty: board.
- 14:55Peter McGratty: And
- 14:55Peter McGratty: then
- 14:55Peter McGratty: the
- 14:56Peter McGratty: fourth
- 14:56Peter McGratty: one
- 14:57Peter McGratty: under
- 14:57Peter McGratty: investments.
- 14:59Peter McGratty: Having
- 14:59Peter McGratty: been
- 14:59Peter McGratty: a
- 14:59Peter McGratty: former
- 15:00Peter McGratty: money
- 15:00Peter McGratty: manager
- 15:01Peter McGratty: myself.
- 15:02Peter McGratty: There
- 15:02Peter McGratty: are
- 15:02Peter McGratty: only
- 15:03Peter McGratty: so
- 15:03Peter McGratty: many
- 15:03Peter McGratty: best
- 15:04Peter McGratty: portfolios
- 15:05Peter McGratty: that
- 15:05Peter McGratty: you
- 15:05Peter McGratty: can
- 15:05Peter McGratty: put
- 15:05Peter McGratty: your
- 15:06Peter McGratty: client
- 15:06Peter McGratty: in.
- 15:07Peter McGratty: I've
- 15:08Peter McGratty: seen
- 15:08Peter McGratty: larger
- 15:09Peter McGratty: firms,
- 15:09Peter McGratty: the
- 15:09Peter McGratty: consolidators
- 15:10Peter McGratty: offering,
- 15:12Peter McGratty: even
- 15:12Peter McGratty: bragging
- 15:13Peter McGratty: about
- 15:13Peter McGratty: 10,000
- 15:14Peter McGratty: models,
- 15:15Peter McGratty: and
- 15:15Peter McGratty: they're
- 15:15Peter McGratty: just
- 15:16Peter McGratty: not
- 15:16Peter McGratty: 10,000
- 15:17Peter McGratty: best
- 15:17Peter McGratty: portfolios.
- 15:18Peter McGratty: That
- 15:19Peter McGratty: reeks
- 15:19Peter McGratty: to
- 15:19Peter McGratty: me
- 15:20Peter McGratty: of
- 15:20Peter McGratty: I'll
- 15:21Peter McGratty: give
- 15:21Peter McGratty: you
- 15:21Peter McGratty: whatever
- 15:21Peter McGratty: you
- 15:21Peter McGratty: want,
- 15:22Peter McGratty: Mr.
- 15:22Peter McGratty: Client,
- 15:23Peter McGratty: as
- 15:23Peter McGratty: long
- 15:23Peter McGratty: as
- 15:23Peter McGratty: you
- 15:24Peter McGratty: bring
- 15:24Peter McGratty: your
- 15:24Peter McGratty: assets
- 15:25Peter McGratty: over
- 15:25Peter McGratty: to
- 15:25Peter McGratty: us.
- 15:26Peter McGratty: So
- 15:26Peter McGratty: what
- 15:26Peter McGratty: I'm
- 15:26Peter McGratty: saying
- 15:27Peter McGratty: around
- 15:27Peter McGratty: the
- 15:27Peter McGratty: values
- 15:28Peter McGratty: is.
- 15:30Peter McGratty: A
- 15:30Peter McGratty: lot
- 15:30Peter McGratty: of
- 15:30Peter McGratty: the
- 15:30Peter McGratty: independent
- 15:31Peter McGratty: RIAs
- 15:32Peter McGratty: are
- 15:32Peter McGratty: sticking
- 15:32Peter McGratty: to
- 15:32Peter McGratty: their
- 15:32Peter McGratty: knitting
- 15:33Peter McGratty: and
- 15:33Peter McGratty: trying
- 15:33Peter McGratty: to
- 15:33Peter McGratty: stay
- 15:34Peter McGratty: true
- 15:34Peter McGratty: to
- 15:34Peter McGratty: those
- 15:35Peter McGratty: four,
- 15:36Peter McGratty: four
- 15:36Peter McGratty: legs
- 15:36Peter McGratty: to
- 15:36Peter McGratty: the
- 15:37Peter McGratty: stool.
- 15:38Peter McGratty: The
- 15:38Peter McGratty: concern
- 15:38Peter McGratty: amongst
- 15:39Peter McGratty: the
- 15:39Peter McGratty: independent,
- 15:40Peter McGratty: the
- 15:40Peter McGratty: more
- 15:41Peter McGratty: traditional
- 15:41Peter McGratty: independent
- 15:42Peter McGratty: RIAs,
- 15:43Peter McGratty: and
- 15:43Peter McGratty: a
- 15:43Peter McGratty: concern
- 15:43Peter McGratty: that
- 15:44Peter McGratty: I
- 15:44Peter McGratty: increasingly
- 15:45Peter McGratty: have
- 15:45Peter McGratty: is
- 15:45Peter McGratty: that
- 15:46Peter McGratty: some
- 15:46Peter McGratty: of
- 15:46Peter McGratty: these
- 15:46Peter McGratty: larger
- 15:47Peter McGratty: consolidators,
- 15:48Peter McGratty: not
- 15:49Peter McGratty: all
- 15:49Peter McGratty: of
- 15:49Peter McGratty: 'em,
- 15:49Peter McGratty: I
- 15:49Peter McGratty: don't
- 15:49Peter McGratty: wanna
- 15:50Peter McGratty: blanket
- 15:50Peter McGratty: everybody
- 15:51Peter McGratty: but
- 15:51Peter McGratty: we're
- 15:51Peter McGratty: seeing
- 15:52Peter McGratty: more
- 15:52Peter McGratty: and
- 15:52Peter McGratty: more.
- 15:53Peter McGratty: Some
- 15:53Peter McGratty: of
- 15:53Peter McGratty: these
- 15:54Peter McGratty: folks
- 15:54Peter McGratty: are
- 15:54Peter McGratty: simply
- 15:54Peter McGratty: recreating
- 15:55Peter McGratty: the
- 15:56Peter McGratty: old
- 15:56Peter McGratty: the
- 15:56Peter McGratty: old
- 15:57Peter McGratty: wirehouse
- 15:57Peter McGratty: model
- 15:58Peter McGratty: within
- 15:58Peter McGratty: the
- 15:59Peter McGratty: independent
- 15:59Peter McGratty: channel.
- 16:00Peter McGratty: And
- 16:00Peter McGratty: that
- 16:01Peter McGratty: that
- 16:01Peter McGratty: only
- 16:02Peter McGratty: we
- 16:02Peter McGratty: believe
- 16:02Peter McGratty: is
- 16:02Peter McGratty: not
- 16:02Peter McGratty: in
- 16:02Peter McGratty: the
- 16:03Peter McGratty: best
- 16:03Peter McGratty: interest
- 16:03Peter McGratty: of
- 16:03Peter McGratty: the
- 16:03Peter McGratty: client,
- 16:04Peter McGratty: but
- 16:04Peter McGratty: it
- 16:04Peter McGratty: also
- 16:04Peter McGratty: makes
- 16:05Peter McGratty: it,
- 16:06Peter McGratty: more
- 16:06Peter McGratty: difficult
- 16:07Peter McGratty: for,
- 16:08Peter McGratty: the
- 16:08Peter McGratty: independent
- 16:09Peter McGratty: RIAs
- 16:10Peter McGratty: because
- 16:11Peter McGratty: they
- 16:11Peter McGratty: look
- 16:12Peter McGratty: the
- 16:12Peter McGratty: same,
- 16:12Peter McGratty: but
- 16:12Peter McGratty: they're
- 16:12Peter McGratty: not,
- 16:13Peter McGratty: in
- 16:13Peter McGratty: fact
- 16:13Peter McGratty: the
- 16:13Peter McGratty: same.
- 16:15Ryan: Yeah,
- 16:16Ryan: Pete,
- 16:16Ryan: I'm
- 16:16Ryan: really
- 16:16Ryan: glad
- 16:17Ryan: because
- 16:17Ryan: as
- 16:17Ryan: you
- 16:17Ryan: were
- 16:18Ryan: describing
- 16:19Ryan: that,
- 16:19Ryan: kind
- 16:19Ryan: of
- 16:20Ryan: talking
- 16:20Ryan: about
- 16:20Ryan: the
- 16:20Ryan: consolidators,
- 16:21Ryan: I
- 16:21Ryan: was
- 16:21Ryan: just,
- 16:22Ryan: I
- 16:22Ryan: was
- 16:22Ryan: like,
- 16:23Ryan: aren't
- 16:23Ryan: we?
- 16:23Ryan: Is
- 16:23Ryan: this
- 16:24Ryan: maybe
- 16:24Ryan: like
- 16:24Ryan: wirehouse
- 16:25Ryan: part
- 16:25Ryan: two
- 16:26Ryan: or
- 16:26Ryan: two
- 16:26Ryan: point?
- 16:27Ryan: Know
- 16:27Ryan: or
- 16:27Ryan: wirehouse
- 16:28Ryan: light,
- 16:28Ryan: it
- 16:29Ryan: kind
- 16:29Ryan: of
- 16:29Ryan: seemed
- 16:29Ryan: like
- 16:30Ryan: those
- 16:30Ryan: consolidators
- 16:31Ryan: are
- 16:32Ryan: starting
- 16:32Ryan: to
- 16:32Ryan: take
- 16:32Ryan: the
- 16:32Ryan: model
- 16:33Ryan: of
- 16:33Ryan: the
- 16:33Ryan: wirehouse.
- 16:34Peter McGratty: Yeah.
- 16:35Peter McGratty: And
- 16:35Peter McGratty: that's
- 16:35Peter McGratty: why
- 16:35Peter McGratty: I
- 16:35Peter McGratty: said
- 16:36Peter McGratty: earlier
- 16:36Peter McGratty: that
- 16:36Peter McGratty: we've
- 16:36Peter McGratty: been,
- 16:37Peter McGratty: I
- 16:37Peter McGratty: think
- 16:38Peter McGratty: that
- 16:38Peter McGratty: the
- 16:38Peter McGratty: independent
- 16:39Peter McGratty: channel
- 16:39Peter McGratty: or
- 16:40Peter McGratty: the
- 16:40Peter McGratty: folks
- 16:40Peter McGratty: in
- 16:40Peter McGratty: the
- 16:40Peter McGratty: independent
- 16:41Peter McGratty: channel
- 16:41Peter McGratty: have
- 16:41Peter McGratty: been
- 16:41Peter McGratty: dancing
- 16:42Peter McGratty: around
- 16:42Peter McGratty: this
- 16:42Peter McGratty: issue
- 16:42Peter McGratty: for
- 16:43Peter McGratty: the
- 16:43Peter McGratty: last
- 16:43Peter McGratty: few
- 16:43Peter McGratty: years
- 16:44Peter McGratty: because.
- 16:46Peter McGratty: I
- 16:46Peter McGratty: think
- 16:46Peter McGratty: people
- 16:46Peter McGratty: have
- 16:46Peter McGratty: been
- 16:46Peter McGratty: starting
- 16:47Peter McGratty: to
- 16:47Peter McGratty: sense
- 16:47Peter McGratty: that
- 16:48Peter McGratty: this
- 16:48Peter McGratty: change
- 16:48Peter McGratty: is
- 16:48Peter McGratty: going
- 16:49Peter McGratty: on
- 16:49Peter McGratty: and
- 16:49Peter McGratty: that,
- 16:50Peter McGratty: yes,
- 16:50Peter McGratty: just
- 16:50Peter McGratty: like
- 16:50Peter McGratty: you
- 16:51Peter McGratty: said,
- 16:51Peter McGratty: that
- 16:51Peter McGratty: they
- 16:51Peter McGratty: are
- 16:51Peter McGratty: starting
- 16:52Peter McGratty: to
- 16:52Peter McGratty: recreate
- 16:53Peter McGratty: the
- 16:53Peter McGratty: old
- 16:54Peter McGratty: model
- 16:55Peter McGratty: in
- 16:55Peter McGratty: new
- 16:55Peter McGratty: clothes.
- 16:56Peter McGratty: But
- 16:56Peter McGratty: I
- 16:57Peter McGratty: think
- 16:57Peter McGratty: in
- 16:57Peter McGratty: the
- 16:57Peter McGratty: last
- 16:58Peter McGratty: six
- 16:59Peter McGratty: months
- 16:59Peter McGratty: or
- 16:59Peter McGratty: so,
- 17:00Peter McGratty: it's
- 17:01Peter McGratty: increasingly
- 17:01Peter McGratty: becoming
- 17:02Peter McGratty: clear
- 17:02Peter McGratty: that
- 17:02Peter McGratty: this
- 17:03Peter McGratty: split.
- 17:04Peter McGratty: Is
- 17:04Peter McGratty: no
- 17:05Peter McGratty: longer
- 17:05Peter McGratty: something
- 17:05Peter McGratty: we
- 17:05Peter McGratty: think
- 17:06Peter McGratty: might
- 17:06Peter McGratty: be
- 17:06Peter McGratty: happening,
- 17:06Peter McGratty: but
- 17:07Peter McGratty: we
- 17:07Peter McGratty: know
- 17:07Peter McGratty: it
- 17:07Peter McGratty: is
- 17:07Peter McGratty: happening.
- 17:08Peter McGratty: And
- 17:09Peter McGratty: I
- 17:09Peter McGratty: think
- 17:09Peter McGratty: there's
- 17:09Peter McGratty: a
- 17:09Peter McGratty: growing
- 17:10Peter McGratty: sense
- 17:10Peter McGratty: that
- 17:11Peter McGratty: we
- 17:11Peter McGratty: know
- 17:11Peter McGratty: it's
- 17:11Peter McGratty: happening
- 17:12Peter McGratty: and
- 17:12Peter McGratty: we
- 17:12Peter McGratty: need
- 17:12Peter McGratty: to
- 17:12Peter McGratty: start
- 17:13Peter McGratty: to
- 17:13Peter McGratty: circle
- 17:13Peter McGratty: the
- 17:13Peter McGratty: wagons
- 17:14Peter McGratty: and
- 17:14Peter McGratty: figure
- 17:14Peter McGratty: out
- 17:15Peter McGratty: how
- 17:15Peter McGratty: we're
- 17:15Peter McGratty: gonna
- 17:15Peter McGratty: deal
- 17:16Peter McGratty: with
- 17:16Peter McGratty: this
- 17:16Peter McGratty: issue.
- 17:17Peter McGratty: what
- 17:17Peter McGratty: do
- 17:17Peter McGratty: I
- 17:18Peter McGratty: mean
- 17:18Peter McGratty: by
- 17:18Peter McGratty: that?
- 17:19Peter McGratty: One
- 17:19Peter McGratty: of
- 17:19Peter McGratty: the
- 17:19Peter McGratty: things
- 17:20Peter McGratty: that's
- 17:20Peter McGratty: starting,
- 17:20Peter McGratty: you
- 17:21Peter McGratty: know,
- 17:21Peter McGratty: so
- 17:21Peter McGratty: before
- 17:21Peter McGratty: it
- 17:21Peter McGratty: was,
- 17:22Peter McGratty: oh,
- 17:22Peter McGratty: how
- 17:22Peter McGratty: are
- 17:22Peter McGratty: we
- 17:23Peter McGratty: gonna
- 17:23Peter McGratty: distinguish
- 17:23Peter McGratty: our
- 17:23Peter McGratty: brand?
- 17:24Peter McGratty: Because
- 17:25Peter McGratty: they're
- 17:25Peter McGratty: actually
- 17:25Peter McGratty: different.
- 17:27Peter McGratty: it's
- 17:27Peter McGratty: more
- 17:27Peter McGratty: than
- 17:27Peter McGratty: that
- 17:27Peter McGratty: now
- 17:28Peter McGratty: it's
- 17:28Peter McGratty: becoming
- 17:28Peter McGratty: very
- 17:29Peter McGratty: material.
- 17:31Peter McGratty: Where
- 17:31Peter McGratty: even
- 17:31Peter McGratty: the
- 17:31Peter McGratty: Echo,
- 17:32Peter McGratty: the
- 17:32Peter McGratty: folks
- 17:32Peter McGratty: in
- 17:33Peter McGratty: the
- 17:33Peter McGratty: ecosystem
- 17:34Peter McGratty: that
- 17:34Peter McGratty: have
- 17:34Peter McGratty: been
- 17:34Peter McGratty: there
- 17:34Peter McGratty: all
- 17:35Peter McGratty: along
- 17:35Peter McGratty: to
- 17:35Peter McGratty: support
- 17:36Peter McGratty: the
- 17:36Peter McGratty: independent
- 17:36Peter McGratty: RIA
- 17:37Peter McGratty: are
- 17:37Peter McGratty: starting
- 17:38Peter McGratty: to
- 17:38Peter McGratty: choose
- 17:38Peter McGratty: sides.
- 17:39Peter McGratty: So
- 17:40Peter McGratty: I
- 17:40Peter McGratty: hear
- 17:40Peter McGratty: stories
- 17:41Peter McGratty: of
- 17:41Peter McGratty: firms
- 17:41Peter McGratty: who
- 17:41Peter McGratty: are
- 17:41Peter McGratty: saying,
- 17:42Peter McGratty: you
- 17:42Peter McGratty: know,
- 17:42Peter McGratty: it's
- 17:43Peter McGratty: much
- 17:43Peter McGratty: easier
- 17:44Peter McGratty: to
- 17:44Peter McGratty: work
- 17:44Peter McGratty: with
- 17:44Peter McGratty: one
- 17:45Peter McGratty: large
- 17:45Peter McGratty: consolidator
- 17:46Peter McGratty: who's
- 17:46Peter McGratty: gonna
- 17:46Peter McGratty: continually
- 17:47Peter McGratty: send
- 17:47Peter McGratty: business
- 17:48Peter McGratty: to
- 17:48Peter McGratty: me
- 17:49Peter McGratty: than
- 17:49Peter McGratty: go
- 17:49Peter McGratty: Chase
- 17:50Peter McGratty: 50
- 17:50Peter McGratty: independent
- 17:51Peter McGratty: RIAs
- 17:51Peter McGratty: who
- 17:52Peter McGratty: are
- 17:52Peter McGratty: only
- 17:52Peter McGratty: periodically
- 17:53Peter McGratty: gonna
- 17:53Peter McGratty: have
- 17:53Peter McGratty: business
- 17:54Peter McGratty: that
- 17:54Peter McGratty: in
- 17:54Peter McGratty: a
- 17:54Peter McGratty: number
- 17:54Peter McGratty: of
- 17:55Peter McGratty: places.
- 17:55Peter McGratty: I've
- 17:55Peter McGratty: seen
- 17:55Peter McGratty: it
- 17:55Peter McGratty: specifically
- 17:56Peter McGratty: with
- 17:56Peter McGratty: the
- 17:57Peter McGratty: custodians.
- 17:58Peter McGratty: Obviously
- 17:58Peter McGratty: they
- 17:59Peter McGratty: like
- 17:59Peter McGratty: more
- 17:59Peter McGratty: assets
- 18:00Peter McGratty: with
- 18:00Peter McGratty: fewer
- 18:00Peter McGratty: clients.
- 18:01Peter McGratty: That's
- 18:01Peter McGratty: good
- 18:01Peter McGratty: for
- 18:01Peter McGratty: their
- 18:02Peter McGratty: business
- 18:02Peter McGratty: and
- 18:02Peter McGratty: I
- 18:03Peter McGratty: was
- 18:03Peter McGratty: at
- 18:03Peter McGratty: a
- 18:03Peter McGratty: large
- 18:04Peter McGratty: custodian's
- 18:05Peter McGratty: or
- 18:05Peter McGratty: wealth
- 18:06Peter McGratty: management
- 18:06Peter McGratty: conference
- 18:07Peter McGratty: and
- 18:07Peter McGratty: of
- 18:08Peter McGratty: last
- 18:08Peter McGratty: year,
- 18:08Peter McGratty: and
- 18:09Peter McGratty: they
- 18:09Peter McGratty: basically
- 18:09Peter McGratty: came
- 18:10Peter McGratty: right
- 18:10Peter McGratty: out
- 18:10Peter McGratty: and
- 18:10Peter McGratty: said
- 18:11Peter McGratty: in
- 18:11Peter McGratty: their
- 18:11Peter McGratty: keynote
- 18:12Peter McGratty: that
- 18:12Peter McGratty: we
- 18:12Peter McGratty: are
- 18:12Peter McGratty: gonna
- 18:13Peter McGratty: support
- 18:13Peter McGratty: these
- 18:13Peter McGratty: large
- 18:14Peter McGratty: consolidator
- 18:15Peter McGratty: firms
- 18:16Peter McGratty: and
- 18:16Peter McGratty: that
- 18:16Peter McGratty: the
- 18:17Peter McGratty: smaller.
- 18:18Peter McGratty: Independent
- 18:19Peter McGratty: firms
- 18:19Peter McGratty: have
- 18:19Peter McGratty: to
- 18:19Peter McGratty: figure
- 18:20Peter McGratty: out
- 18:20Peter McGratty: how
- 18:20Peter McGratty: they're
- 18:21Peter McGratty: gonna
- 18:21Peter McGratty: be
- 18:21Peter McGratty: able
- 18:21Peter McGratty: to
- 18:21Peter McGratty: compete
- 18:22Peter McGratty: with
- 18:22Peter McGratty: the
- 18:22Peter McGratty: scale
- 18:23Peter McGratty: of
- 18:23Peter McGratty: these
- 18:24Peter McGratty: large
- 18:24Peter McGratty: consolidators.
- 18:25Peter McGratty: And
- 18:26Peter McGratty: then
- 18:26Peter McGratty: I've
- 18:26Peter McGratty: also
- 18:26Peter McGratty: heard
- 18:27Peter McGratty: of
- 18:27Peter McGratty: recruiting
- 18:27Peter McGratty: firms
- 18:28Peter McGratty: who
- 18:28Peter McGratty: are
- 18:28Peter McGratty: reorienting
- 18:29Peter McGratty: towards,
- 18:30Peter McGratty: I'll
- 18:30Peter McGratty: do
- 18:30Peter McGratty: lots
- 18:31Peter McGratty: of
- 18:31Peter McGratty: recruiting.
- 18:32Peter McGratty: Jobs
- 18:32Peter McGratty: for
- 18:33Peter McGratty: one
- 18:33Peter McGratty: large
- 18:33Peter McGratty: firm,
- 18:34Peter McGratty: rather
- 18:34Peter McGratty: than
- 18:34Peter McGratty: focus
- 18:35Peter McGratty: on
- 18:35Peter McGratty: chasing
- 18:36Peter McGratty: marketing
- 18:36Peter McGratty: to
- 18:37Peter McGratty: and
- 18:37Peter McGratty: chasing
- 18:37Peter McGratty: lots
- 18:38Peter McGratty: of
- 18:38Peter McGratty: smaller
- 18:38Peter McGratty: firms.
- 18:39Peter McGratty: And
- 18:39Peter McGratty: so
- 18:39Peter McGratty: now
- 18:40Peter McGratty: you're
- 18:40Peter McGratty: starting
- 18:40Peter McGratty: to
- 18:40Peter McGratty: see
- 18:41Peter McGratty: not
- 18:41Peter McGratty: only
- 18:41Peter McGratty: do
- 18:41Peter McGratty: we
- 18:41Peter McGratty: think
- 18:42Peter McGratty: there
- 18:42Peter McGratty: may
- 18:42Peter McGratty: be
- 18:42Peter McGratty: a
- 18:42Peter McGratty: change,
- 18:43Peter McGratty: a
- 18:43Peter McGratty: difference
- 18:43Peter McGratty: in
- 18:44Peter McGratty: values
- 18:44Peter McGratty: that
- 18:44Peter McGratty: we
- 18:45Peter McGratty: need
- 18:45Peter McGratty: to
- 18:45Peter McGratty: distinguish
- 18:46Peter McGratty: ourselves
- 18:47Peter McGratty: from.
- 18:47Peter McGratty: But
- 18:47Peter McGratty: we
- 18:47Peter McGratty: also
- 18:48Peter McGratty: are
- 18:48Peter McGratty: now
- 18:48Peter McGratty: seeing
- 18:49Peter McGratty: the
- 18:49Peter McGratty: industry
- 18:50Peter McGratty: starting
- 18:50Peter McGratty: to
- 18:50Peter McGratty: choose
- 18:51Peter McGratty: sides,
- 18:52Peter McGratty: and
- 18:52Peter McGratty: that
- 18:52Peter McGratty: also
- 18:52Peter McGratty: puts
- 18:53Peter McGratty: pressure
- 18:53Peter McGratty: on
- 18:54Peter McGratty: the
- 18:54Peter McGratty: smaller
- 18:54Peter McGratty: firms
- 18:55Peter McGratty: to
- 18:55Peter McGratty: find
- 18:55Peter McGratty: a
- 18:55Peter McGratty: solution,
- 18:57Peter McGratty: which
- 18:57Peter McGratty: brings
- 18:57Peter McGratty: us
- 18:58Peter McGratty: to
- 18:58Peter McGratty: where
- 18:58Peter McGratty: we
- 18:58Peter McGratty: are
- 18:58Peter McGratty: today.
- 18:59Peter McGratty: I
- 18:59Peter McGratty: think
- 18:59Peter McGratty: that,
- 18:59Peter McGratty: I
- 18:59Peter McGratty: think
- 19:00Peter McGratty: the
- 19:00Peter McGratty: stakes
- 19:00Peter McGratty: are
- 19:00Peter McGratty: on
- 19:01Peter McGratty: the
- 19:01Peter McGratty: table.
- 19:01Peter McGratty: People
- 19:01Peter McGratty: understand
- 19:02Peter McGratty: what's
- 19:03Peter McGratty: happening
- 19:03Peter McGratty: and
- 19:03Peter McGratty: they're
- 19:03Peter McGratty: starting
- 19:04Peter McGratty: to
- 19:04Peter McGratty: talk
- 19:04Peter McGratty: about
- 19:04Peter McGratty: it
- 19:05Peter McGratty: out
- 19:05Peter McGratty: loud.
- 19:06Peter McGratty: And
- 19:06Peter McGratty: I'm
- 19:06Peter McGratty: seeing
- 19:07Peter McGratty: lots
- 19:08Peter McGratty: of,
- 19:08Peter McGratty: a
- 19:08Peter McGratty: lot
- 19:09Peter McGratty: more
- 19:09Peter McGratty: conversations.
- 19:11Peter McGratty: And
- 19:11Peter McGratty: a
- 19:11Peter McGratty: lot
- 19:11Peter McGratty: more
- 19:11Peter McGratty: action
- 19:12Peter McGratty: starting
- 19:13Peter McGratty: to
- 19:13Peter McGratty: emerge
- 19:13Peter McGratty: on
- 19:14Peter McGratty: how
- 19:15Peter McGratty: the
- 19:15Peter McGratty: more
- 19:15Peter McGratty: traditional
- 19:16Peter McGratty: independent
- 19:17Peter McGratty: can
- 19:18Peter McGratty: leverage
- 19:19Peter McGratty: that
- 19:19Peter McGratty: community,
- 19:20Peter McGratty: the
- 19:20Peter McGratty: resources
- 19:21Peter McGratty: within
- 19:21Peter McGratty: that
- 19:21Peter McGratty: community
- 19:22Peter McGratty: to
- 19:23Peter McGratty: find
- 19:23Peter McGratty: solutions
- 19:24Peter McGratty: to
- 19:24Peter McGratty: a,
- 19:25Peter McGratty: make
- 19:26Peter McGratty: sure
- 19:26Peter McGratty: that
- 19:26Peter McGratty: they
- 19:26Peter McGratty: can
- 19:27Peter McGratty: brand
- 19:28Peter McGratty: and
- 19:28Peter McGratty: differentiate
- 19:29Peter McGratty: themselves
- 19:29Peter McGratty: from
- 19:30Peter McGratty: the
- 19:30Peter McGratty: large
- 19:30Peter McGratty: consolidators.
- 19:31Peter McGratty: And
- 19:31Peter McGratty: second,
- 19:32Peter McGratty: and
- 19:32Peter McGratty: equally
- 19:33Peter McGratty: important
- 19:33Peter McGratty: is
- 19:34Peter McGratty: borrow
- 19:34Peter McGratty: one
- 19:34Peter McGratty: another's
- 19:35Peter McGratty: resources
- 19:36Peter McGratty: or
- 19:36Peter McGratty: scale
- 19:37Peter McGratty: so
- 19:38Peter McGratty: they
- 19:38Peter McGratty: can
- 19:38Peter McGratty: offer
- 19:39Peter McGratty: the
- 19:39Peter McGratty: same
- 19:39Peter McGratty: kind
- 19:39Peter McGratty: of.
- 19:41Peter McGratty: longer
- 19:41Peter McGratty: menu
- 19:42Peter McGratty: that
- 19:42Peter McGratty: the
- 19:42Peter McGratty: larger
- 19:42Peter McGratty: firms
- 19:43Peter McGratty: can
- 19:43Peter McGratty: do.
- 19:44Ryan: Yeah,
- 19:44Ryan: Pete,
- 19:45Ryan: I
- 19:45Ryan: completely
- 19:46Ryan: agree.
- 19:46Ryan: Great
- 19:46Ryan: stuff
- 19:47Ryan: there.
- 19:47Ryan: What,
- 19:48Ryan: so
- 19:48Ryan: then
- 19:49Ryan: how
- 19:50Ryan: can
- 19:50Ryan: smaller
- 19:50Ryan: truth.
- 19:51Ryan: Independent
- 19:52Ryan: firms
- 19:53Ryan: compete
- 19:54Ryan: in
- 19:54Ryan: this
- 19:54Ryan: new
- 19:54Ryan: environment
- 19:55Ryan: where,
- 19:56Ryan: like
- 19:56Ryan: you're
- 19:56Ryan: talking
- 19:57Ryan: about
- 19:57Ryan: larger
- 19:58Ryan: consolidators,
- 19:59Ryan: they
- 20:00Ryan: have
- 20:00Ryan: scale,
- 20:01Ryan: they
- 20:01Ryan: have
- 20:02Ryan: access
- 20:02Ryan: to
- 20:02Ryan: more
- 20:03Ryan: like
- 20:03Ryan: resources
- 20:04Ryan: and
- 20:04Ryan: so
- 20:04Ryan: on.
- 20:05Ryan: How
- 20:05Ryan: can
- 20:05Ryan: the
- 20:06Ryan: smaller
- 20:06Ryan: firms
- 20:06Ryan: compete
- 20:07Ryan: against
- 20:07Ryan: that?
- 20:09Peter McGratty: So
- 20:09Peter McGratty: like
- 20:09Peter McGratty: we're
- 20:09Peter McGratty: having
- 20:10Peter McGratty: I'm
- 20:10Peter McGratty: a
- 20:10Peter McGratty: member
- 20:10Peter McGratty: of
- 20:11Peter McGratty: nafa,
- 20:12Ryan: Okay.
- 20:12Peter McGratty: which
- 20:13Peter McGratty: as
- 20:13Peter McGratty: works
- 20:13Peter McGratty: with
- 20:13Peter McGratty: the
- 20:14Peter McGratty: sort
- 20:14Peter McGratty: of
- 20:14Peter McGratty: the
- 20:14Peter McGratty: more
- 20:14Peter McGratty: traditional
- 20:15Peter McGratty: independent
- 20:16Peter McGratty: RIA.
- 20:18Peter McGratty: This
- 20:18Peter McGratty: is
- 20:18Peter McGratty: a
- 20:18Peter McGratty: big
- 20:18Peter McGratty: topic
- 20:19Peter McGratty: of
- 20:19Peter McGratty: conversation
- 20:20Peter McGratty: within
- 20:20Peter McGratty: our
- 20:20Peter McGratty: community.
- 20:21Peter McGratty: And
- 20:22Peter McGratty: really
- 20:22Peter McGratty: what
- 20:22Peter McGratty: we're,
- 20:22Peter McGratty: so
- 20:23Peter McGratty: what
- 20:23Peter McGratty: we're
- 20:23Peter McGratty: starting
- 20:23Peter McGratty: to
- 20:24Peter McGratty: focus
- 20:24Peter McGratty: on
- 20:24Peter McGratty: is
- 20:25Peter McGratty: how
- 20:25Peter McGratty: can
- 20:25Peter McGratty: we
- 20:25Peter McGratty: leverage.
- 20:27Peter McGratty: The
- 20:27Peter McGratty: folks
- 20:27Peter McGratty: in
- 20:27Peter McGratty: our
- 20:28Peter McGratty: community
- 20:28Peter McGratty: who
- 20:29Peter McGratty: still
- 20:29Peter McGratty: believe
- 20:29Peter McGratty: in
- 20:30Peter McGratty: first
- 20:30Peter McGratty: client
- 20:30Peter McGratty: first
- 20:31Peter McGratty: and
- 20:32Peter McGratty: second
- 20:33Peter McGratty: financial
- 20:33Peter McGratty: planning
- 20:34Peter McGratty: is
- 20:34Peter McGratty: important
- 20:35Peter McGratty: and
- 20:35Peter McGratty: we
- 20:35Peter McGratty: wanna
- 20:35Peter McGratty: do
- 20:35Peter McGratty: comprehensive
- 20:36Peter McGratty: and
- 20:37Peter McGratty: ongoing
- 20:37Peter McGratty: planning.
- 20:39Peter McGratty: how
- 20:39Peter McGratty: can
- 20:39Peter McGratty: we
- 20:39Peter McGratty: find,
- 20:40Peter McGratty: let's
- 20:40Peter McGratty: identify
- 20:41Peter McGratty: the
- 20:41Peter McGratty: resources,
- 20:43Peter McGratty: of
- 20:43Peter McGratty: the
- 20:43Peter McGratty: folks
- 20:44Peter McGratty: within
- 20:44Peter McGratty: our
- 20:44Peter McGratty: own
- 20:45Peter McGratty: community
- 20:45Peter McGratty: and
- 20:46Peter McGratty: see
- 20:46Peter McGratty: how
- 20:46Peter McGratty: we
- 20:46Peter McGratty: can,
- 20:47Peter McGratty: leverage
- 20:48Peter McGratty: one
- 20:48Peter McGratty: another
- 20:48Peter McGratty: within
- 20:49Peter McGratty: the
- 20:49Peter McGratty: community
- 20:50Peter McGratty: to
- 20:50Peter McGratty: get
- 20:50Peter McGratty: those
- 20:51Peter McGratty: resources.
- 20:52Peter McGratty: Use
- 20:52Peter McGratty: myself
- 20:53Peter McGratty: as
- 20:53Peter McGratty: a,
- 20:53Peter McGratty: as
- 20:53Peter McGratty: an
- 20:53Peter McGratty: example.
- 20:54Peter McGratty: But
- 20:54Peter McGratty: I
- 20:55Peter McGratty: know
- 20:55Peter McGratty: there
- 20:55Peter McGratty: are
- 20:55Peter McGratty: others.
- 20:56Peter McGratty: Vernon's
- 20:57Peter McGratty: Capital
- 20:57Peter McGratty: Advisors
- 20:58Peter McGratty: is
- 20:58Peter McGratty: a,
- 20:59Peter McGratty: is
- 21:00Peter McGratty: an
- 21:00Peter McGratty: independent
- 21:00Peter McGratty: wealth
- 21:01Peter McGratty: management
- 21:01Peter McGratty: firm.
- 21:02Peter McGratty: We
- 21:02Peter McGratty: are
- 21:03Peter McGratty: a
- 21:03Peter McGratty: NAFA
- 21:03Peter McGratty: member
- 21:04Peter McGratty: firm.
- 21:04Peter McGratty: We're
- 21:04Peter McGratty: on
- 21:04Peter McGratty: the
- 21:04Peter McGratty: larger
- 21:05Peter McGratty: side
- 21:05Peter McGratty: of
- 21:05Peter McGratty: that
- 21:05Peter McGratty: community.
- 21:06Peter McGratty: We
- 21:07Peter McGratty: happen
- 21:07Peter McGratty: to
- 21:07Peter McGratty: have
- 21:07Peter McGratty: a
- 21:08Peter McGratty: lot
- 21:08Peter McGratty: of
- 21:08Peter McGratty: resources.
- 21:09Peter McGratty: We
- 21:09Peter McGratty: have
- 21:09Peter McGratty: resources
- 21:09Peter McGratty: in
- 21:10Peter McGratty: financial
- 21:10Peter McGratty: planning.
- 21:11Peter McGratty: We
- 21:11Peter McGratty: have
- 21:11Peter McGratty: resources.
- 21:13Peter McGratty: Investment
- 21:13Peter McGratty: management,
- 21:14Peter McGratty: both
- 21:14Peter McGratty: on
- 21:15Peter McGratty: the
- 21:15Peter McGratty: public
- 21:15Peter McGratty: and
- 21:15Peter McGratty: the
- 21:15Peter McGratty: private
- 21:16Peter McGratty: side.
- 21:17Peter McGratty: We've
- 21:17Peter McGratty: got
- 21:17Peter McGratty: financial
- 21:18Peter McGratty: planning
- 21:18Peter McGratty: resources.
- 21:19Peter McGratty: We've
- 21:19Peter McGratty: got
- 21:19Peter McGratty: operations
- 21:20Peter McGratty: compliance.
- 21:22Peter McGratty: And
- 21:22Peter McGratty: through
- 21:22Peter McGratty: Burden's,
- 21:23Peter McGratty: RIA
- 21:23Peter McGratty: Plus,
- 21:24Peter McGratty: which
- 21:24Peter McGratty: is
- 21:24Peter McGratty: a
- 21:24Peter McGratty: division
- 21:25Peter McGratty: I
- 21:25Peter McGratty: run
- 21:25Peter McGratty: at
- 21:26Peter McGratty: Vers
- 21:27Peter McGratty: we
- 21:27Peter McGratty: are
- 21:27Peter McGratty: now
- 21:27Peter McGratty: making
- 21:28Peter McGratty: some
- 21:28Peter McGratty: of
- 21:28Peter McGratty: those
- 21:28Peter McGratty: resources
- 21:29Peter McGratty: available
- 21:29Peter McGratty: to
- 21:30Peter McGratty: independents
- 21:30Peter McGratty: who
- 21:30Peter McGratty: wanna
- 21:31Peter McGratty: remain
- 21:31Peter McGratty: independent.
- 21:32Peter McGratty: They
- 21:32Peter McGratty: still
- 21:33Peter McGratty: wanna
- 21:33Peter McGratty: run
- 21:34Peter McGratty: their
- 21:34Peter McGratty: own
- 21:34Peter McGratty: show,
- 21:34Peter McGratty: they
- 21:35Peter McGratty: wanna
- 21:35Peter McGratty: have
- 21:35Peter McGratty: their
- 21:35Peter McGratty: own
- 21:35Peter McGratty: clients,
- 21:36Peter McGratty: they
- 21:36Peter McGratty: wanna
- 21:37Peter McGratty: take
- 21:37Peter McGratty: care
- 21:37Peter McGratty: of
- 21:37Peter McGratty: those
- 21:38Peter McGratty: clients
- 21:38Peter McGratty: the
- 21:38Peter McGratty: way
- 21:38Peter McGratty: they
- 21:38Peter McGratty: see
- 21:39Peter McGratty: fit,
- 21:39Peter McGratty: but
- 21:40Peter McGratty: they
- 21:40Peter McGratty: may
- 21:40Peter McGratty: not
- 21:40Peter McGratty: have
- 21:40Peter McGratty: the
- 21:40Peter McGratty: scale,
- 21:41Peter McGratty: for
- 21:41Peter McGratty: example,
- 21:42Peter McGratty: to
- 21:42Peter McGratty: offer
- 21:43Peter McGratty: five
- 21:44Peter McGratty: public
- 21:44Peter McGratty: investment
- 21:45Peter McGratty: strategies.
- 21:46Peter McGratty: Ranging
- 21:46Peter McGratty: from
- 21:47Peter McGratty: private
- 21:47Peter McGratty: to
- 21:47Peter McGratty: active,
- 21:48Peter McGratty: or
- 21:48Peter McGratty: they
- 21:48Peter McGratty: may
- 21:48Peter McGratty: not
- 21:48Peter McGratty: have
- 21:49Peter McGratty: the
- 21:49Peter McGratty: facility
- 21:49Peter McGratty: to
- 21:50Peter McGratty: do
- 21:50Peter McGratty: private
- 21:50Peter McGratty: investments,
- 21:51Peter McGratty: which
- 21:52Peter McGratty: is
- 21:52Peter McGratty: increasingly
- 21:52Peter McGratty: important
- 21:53Peter McGratty: for
- 21:53Peter McGratty: if
- 21:53Peter McGratty: you
- 21:53Peter McGratty: wanna
- 21:53Peter McGratty: chase
- 21:54Peter McGratty: larger
- 21:54Peter McGratty: clients
- 21:55Peter McGratty: or
- 21:55Peter McGratty: family
- 21:55Peter McGratty: office
- 21:56Peter McGratty: clients,
- 21:58Peter McGratty: so
- 21:59Peter McGratty: that
- 21:59Peter McGratty: there's
- 21:59Peter McGratty: an
- 21:59Peter McGratty: opportunity
- 22:00Peter McGratty: that
- 22:00Peter McGratty: they
- 22:00Peter McGratty: can
- 22:00Peter McGratty: find
- 22:01Peter McGratty: enough
- 22:01Peter McGratty: that
- 22:01Peter McGratty: a
- 22:01Peter McGratty: NAP
- 22:02Peter McGratty: firm
- 22:02Peter McGratty: member
- 22:03Peter McGratty: can
- 22:03Peter McGratty: find.
- 22:04Peter McGratty: firm
- 22:04Peter McGratty: that
- 22:05Peter McGratty: has
- 22:05Peter McGratty: the
- 22:05Peter McGratty: same
- 22:06Peter McGratty: values
- 22:06Peter McGratty: that
- 22:06Peter McGratty: are
- 22:06Peter McGratty: still
- 22:07Peter McGratty: client
- 22:07Peter McGratty: first
- 22:08Peter McGratty: but
- 22:08Peter McGratty: has
- 22:08Peter McGratty: developed
- 22:09Peter McGratty: some
- 22:09Peter McGratty: of
- 22:09Peter McGratty: these
- 22:09Peter McGratty: resources
- 22:10Peter McGratty: and
- 22:10Peter McGratty: is
- 22:10Peter McGratty: willing
- 22:11Peter McGratty: to
- 22:11Peter McGratty: allow
- 22:11Peter McGratty: them
- 22:11Peter McGratty: to
- 22:11Peter McGratty: borrow
- 22:12Peter McGratty: them.
- 22:13Peter McGratty: That
- 22:13Peter McGratty: would
- 22:13Peter McGratty: be
- 22:13Peter McGratty: one
- 22:13Peter McGratty: example.
- 22:14Peter McGratty: Another
- 22:15Peter McGratty: big
- 22:15Peter McGratty: conversation
- 22:16Peter McGratty: we're
- 22:16Peter McGratty: having
- 22:16Peter McGratty: in
- 22:16Peter McGratty: the
- 22:17Peter McGratty: community
- 22:17Peter McGratty: is
- 22:18Peter McGratty: developing
- 22:20Peter McGratty: a
- 22:20Peter McGratty: a
- 22:20Peter McGratty: continuity
- 22:21Peter McGratty: and
- 22:21Peter McGratty: succession
- 22:22Peter McGratty: planning
- 22:23Peter McGratty: solution.
- 22:23Peter McGratty: So
- 22:24Peter McGratty: again,
- 22:24Peter McGratty: rather
- 22:24Peter McGratty: than
- 22:25Peter McGratty: having
- 22:26Peter McGratty: NAFA
- 22:27Peter McGratty: community
- 22:27Peter McGratty: members.
- 22:28Peter McGratty: When
- 22:29Peter McGratty: they're
- 22:29Peter McGratty: ready
- 22:29Peter McGratty: to
- 22:29Peter McGratty: retire,
- 22:30Peter McGratty: sell
- 22:30Peter McGratty: to
- 22:30Peter McGratty: one
- 22:31Peter McGratty: of
- 22:31Peter McGratty: these
- 22:31Peter McGratty: large
- 22:31Peter McGratty: consolidators
- 22:32Peter McGratty: that
- 22:33Peter McGratty: don't
- 22:33Peter McGratty: have
- 22:33Peter McGratty: the
- 22:33Peter McGratty: same
- 22:33Peter McGratty: values
- 22:35Peter McGratty: and
- 22:35Peter McGratty: may
- 22:35Peter McGratty: not
- 22:35Peter McGratty: be
- 22:35Peter McGratty: as
- 22:35Peter McGratty: good
- 22:36Peter McGratty: for.
- 22:37Peter McGratty: clients
- 22:38Peter McGratty: or
- 22:38Peter McGratty: their
- 22:38Peter McGratty: employees,
- 22:39Peter McGratty: once
- 22:39Peter McGratty: they're
- 22:40Peter McGratty: absorbed,
- 22:41Peter McGratty: can
- 22:41Peter McGratty: they
- 22:41Peter McGratty: identify
- 22:42Peter McGratty: other
- 22:42Peter McGratty: firms
- 22:43Peter McGratty: within
- 22:43Peter McGratty: the
- 22:43Peter McGratty: community
- 22:44Peter McGratty: that
- 22:44Peter McGratty: might
- 22:45Peter McGratty: be
- 22:45Peter McGratty: a
- 22:45Peter McGratty: better
- 22:46Peter McGratty: succession
- 22:46Peter McGratty: solution
- 22:47Peter McGratty: for
- 22:47Peter McGratty: them?
- 22:49Peter McGratty: so
- 22:49Peter McGratty: I
- 22:49Peter McGratty: just
- 22:49Peter McGratty: give,
- 22:49Peter McGratty: I'm,
- 22:50Peter McGratty: you
- 22:50Peter McGratty: know,
- 22:50Peter McGratty: I'm
- 22:50Peter McGratty: certainly
- 22:51Peter McGratty: not
- 22:51Peter McGratty: the
- 22:51Peter McGratty: only
- 22:51Peter McGratty: one.
- 22:51Peter McGratty: There's
- 22:52Peter McGratty: a
- 22:52Peter McGratty: lot
- 22:52Peter McGratty: of
- 22:52Peter McGratty: firms
- 22:53Peter McGratty: that
- 22:53Peter McGratty: have
- 22:53Peter McGratty: solutions.
- 22:54Peter McGratty: But
- 22:54Peter McGratty: to
- 22:54Peter McGratty: make
- 22:55Peter McGratty: it
- 22:55Peter McGratty: concrete,
- 22:56Peter McGratty: what
- 22:56Peter McGratty: the
- 22:56Peter McGratty: simple
- 22:57Peter McGratty: idea
- 22:57Peter McGratty: is
- 22:58Peter McGratty: are
- 22:58Peter McGratty: there
- 22:58Peter McGratty: f.
- 22:59Peter McGratty: Are
- 22:59Peter McGratty: there
- 22:59Peter McGratty: firms
- 23:00Peter McGratty: within
- 23:00Peter McGratty: our
- 23:01Peter McGratty: community
- 23:01Peter McGratty: that
- 23:01Peter McGratty: are
- 23:02Peter McGratty: still
- 23:02Peter McGratty: true
- 23:02Peter McGratty: to
- 23:03Peter McGratty: the
- 23:03Peter McGratty: values
- 23:04Peter McGratty: that
- 23:04Peter McGratty: we
- 23:04Peter McGratty: think
- 23:04Peter McGratty: are
- 23:05Peter McGratty: important
- 23:06Peter McGratty: that
- 23:06Peter McGratty: we
- 23:06Peter McGratty: can
- 23:06Peter McGratty: leverage
- 23:07Peter McGratty: one
- 23:07Peter McGratty: another
- 23:08Peter McGratty: in
- 23:08Peter McGratty: order
- 23:08Peter McGratty: to
- 23:09Peter McGratty: be
- 23:09Peter McGratty: competitive
- 23:09Peter McGratty: with
- 23:10Peter McGratty: the
- 23:10Peter McGratty: larger
- 23:10Peter McGratty: firms
- 23:11Peter McGratty: and
- 23:11Peter McGratty: not
- 23:11Peter McGratty: forfeit
- 23:12Peter McGratty: our
- 23:12Peter McGratty: what
- 23:12Peter McGratty: we
- 23:13Peter McGratty: believe
- 23:13Peter McGratty: to
- 23:13Peter McGratty: be
- 23:13Peter McGratty: the
- 23:13Peter McGratty: right
- 23:13Peter McGratty: way
- 23:14Peter McGratty: to
- 23:14Peter McGratty: take
- 23:14Peter McGratty: care
- 23:14Peter McGratty: of
- 23:14Peter McGratty: the
- 23:14Peter McGratty: client?
- 23:16Ryan: Yeah,
- 23:16Ryan: Pete,
- 23:16Ryan: that's
- 23:17Ryan: fantastic.
- 23:17Ryan: You
- 23:17Ryan: brought
- 23:18Ryan: up
- 23:18Ryan: private
- 23:18Ryan: markets.
- 23:20Ryan: The,
- 23:20Ryan: the
- 23:21Ryan: hot
- 23:22Ryan: topic
- 23:23Ryan: in
- 23:23Ryan: the
- 23:23Ryan: space
- 23:23Ryan: is
- 23:23Ryan: private
- 23:24Ryan: markets
- 23:24Ryan: on
- 23:24Ryan: the
- 23:24Ryan: investment
- 23:25Ryan: side,
- 23:25Ryan: particularly
- 23:26Ryan: private
- 23:27Ryan: credit.
- 23:28Ryan: And
- 23:28Ryan: I've
- 23:28Ryan: had
- 23:28Ryan: a
- 23:28Ryan: lot
- 23:29Ryan: of
- 23:29Ryan: conversations
- 23:30Ryan: like
- 23:30Ryan: whether
- 23:30Ryan: you're
- 23:31Ryan: a
- 23:31Ryan: consolidator
- 23:32Ryan: small,
- 23:33Ryan: independent
- 23:33Ryan: advisor,
- 23:34Ryan: but
- 23:34Ryan: one
- 23:35Ryan: way
- 23:35Ryan: to
- 23:35Ryan: distinguish
- 23:36Ryan: your
- 23:36Ryan: practice
- 23:37Ryan: from
- 23:37Ryan: your
- 23:37Ryan: competitors
- 23:38Ryan: is
- 23:38Ryan: offering
- 23:38Ryan: private
- 23:39Ryan: markets
- 23:39Ryan: or,
- 23:40Ryan: different
- 23:40Ryan: types
- 23:41Ryan: of
- 23:41Ryan: alternatives
- 23:42Ryan: to
- 23:42Ryan: investment
- 23:43Ryan: portfolios.
- 23:44Ryan: ETFs
- 23:45Ryan: Mutual.
- 23:45Ryan: They're
- 23:45Ryan: table
- 23:46Ryan: stakes.
- 23:46Ryan: You
- 23:47Ryan: gotta
- 23:47Ryan: do
- 23:47Ryan: something
- 23:47Ryan: else
- 23:48Ryan: to
- 23:48Ryan: help
- 23:48Ryan: create
- 23:48Ryan: those
- 23:49Ryan: investment
- 23:49Ryan: portfolios?
- 23:51Ryan: Can
- 23:51Ryan: you
- 23:51Ryan: talk
- 23:52Ryan: a
- 23:52Ryan: little
- 23:52Ryan: bit
- 23:52Ryan: more
- 23:53Ryan: about
- 23:53Ryan: the
- 23:53Ryan: impact
- 23:54Ryan: private
- 23:54Ryan: markets
- 23:55Ryan: are
- 23:55Ryan: having
- 23:55Ryan: on
- 23:56Ryan: the
- 23:56Ryan: independent
- 23:56Ryan: space
- 23:57Ryan: and,
- 23:58Ryan: and
- 23:58Ryan: are
- 23:58Ryan: we
- 24:00Ryan: there,
- 24:00Ryan: are
- 24:00Ryan: we
- 24:00Ryan: trying
- 24:01Ryan: to
- 24:01Ryan: force,
- 24:02Ryan: a
- 24:02Ryan: square
- 24:02Ryan: peg
- 24:03Ryan: into
- 24:03Ryan: a
- 24:03Ryan: round
- 24:03Ryan: hole
- 24:04Ryan: right
- 24:04Ryan: now?
- 24:05Ryan: Or
- 24:05Ryan: is
- 24:05Ryan: that
- 24:05Ryan: merger
- 24:06Ryan: or
- 24:06Ryan: that
- 24:06Ryan: marriage
- 24:07Ryan: gonna
- 24:08Ryan: work
- 24:08Ryan: out?
- 24:10Peter McGratty: I
- 24:10Peter McGratty: would
- 24:11Peter McGratty: say
- 24:11Peter McGratty: there
- 24:11Peter McGratty: is
- 24:11Peter McGratty: very
- 24:12Peter McGratty: definitely
- 24:12Peter McGratty: a
- 24:13Peter McGratty: role
- 24:13Peter McGratty: for
- 24:13Peter McGratty: privates.
- 24:15Peter McGratty: In
- 24:15Peter McGratty: the
- 24:16Peter McGratty: wealth
- 24:16Peter McGratty: management
- 24:17Peter McGratty: business
- 24:17Peter McGratty: for
- 24:17Peter McGratty: certain
- 24:18Peter McGratty: clients.
- 24:19Peter McGratty: What
- 24:19Peter McGratty: do
- 24:19Peter McGratty: I
- 24:19Peter McGratty: mean
- 24:20Peter McGratty: by
- 24:20Peter McGratty: that?
- 24:21Peter McGratty: We
- 24:21Peter McGratty: know
- 24:21Peter McGratty: today
- 24:22Peter McGratty: that
- 24:22Peter McGratty: clients
- 24:22Peter McGratty: are
- 24:23Peter McGratty: interested
- 24:23Peter McGratty: in
- 24:23Peter McGratty: privates
- 24:24Peter McGratty: because
- 24:24Peter McGratty: they
- 24:24Peter McGratty: hear
- 24:25Peter McGratty: about
- 24:25Peter McGratty: 'em
- 24:25Peter McGratty: on
- 24:25Peter McGratty: TV
- 24:26Peter McGratty: all
- 24:26Peter McGratty: the
- 24:26Peter McGratty: time.
- 24:27Peter McGratty: and
- 24:28Peter McGratty: they're
- 24:28Peter McGratty: asking
- 24:28Peter McGratty: about
- 24:29Peter McGratty: them.
- 24:30Peter McGratty: The
- 24:30Peter McGratty: reason
- 24:30Peter McGratty: they're
- 24:30Peter McGratty: asking
- 24:31Peter McGratty: about
- 24:31Peter McGratty: them
- 24:31Peter McGratty: is
- 24:32Peter McGratty: because
- 24:32Peter McGratty: if
- 24:32Peter McGratty: you
- 24:32Peter McGratty: look
- 24:32Peter McGratty: at
- 24:33Peter McGratty: the
- 24:33Peter McGratty: track
- 24:33Peter McGratty: record
- 24:34Peter McGratty: of
- 24:34Peter McGratty: private
- 24:35Peter McGratty: investments.
- 24:36Peter McGratty: Over
- 24:37Peter McGratty: the
- 24:37Peter McGratty: last,
- 24:37Peter McGratty: I
- 24:37Peter McGratty: don't
- 24:38Peter McGratty: know,
- 24:38Peter McGratty: 10
- 24:38Peter McGratty: or
- 24:38Peter McGratty: 15
- 24:39Peter McGratty: years,
- 24:39Peter McGratty: there
- 24:40Peter McGratty: is
- 24:40Peter McGratty: evidence
- 24:40Peter McGratty: to
- 24:41Peter McGratty: suggest
- 24:41Peter McGratty: that
- 24:41Peter McGratty: they
- 24:42Peter McGratty: generate
- 24:42Peter McGratty: better
- 24:42Peter McGratty: returns
- 24:44Peter McGratty: with
- 24:44Peter McGratty: less
- 24:44Peter McGratty: volatility.
- 24:45Peter McGratty: And
- 24:45Peter McGratty: therefore,
- 24:46Peter McGratty: by
- 24:47Peter McGratty: adding
- 24:47Peter McGratty: it
- 24:47Peter McGratty: to
- 24:48Peter McGratty: a
- 24:48Peter McGratty: portfolio,
- 24:49Peter McGratty: you
- 24:49Peter McGratty: can
- 24:49Peter McGratty: improve
- 24:49Peter McGratty: the
- 24:50Peter McGratty: the
- 24:50Peter McGratty: return
- 24:51Peter McGratty: and
- 24:51Peter McGratty: the
- 24:51Peter McGratty: diversification
- 24:52Peter McGratty: of
- 24:52Peter McGratty: the
- 24:52Peter McGratty: portfolio.
- 24:54Peter McGratty: From
- 24:55Peter McGratty: a,
- 24:55Peter McGratty: an
- 24:55Peter McGratty: advisor
- 24:56Peter McGratty: standpoint,
- 24:57Peter McGratty: there's
- 24:57Peter McGratty: clearly
- 24:58Peter McGratty: interest
- 24:58Peter McGratty: in
- 24:58Peter McGratty: it
- 24:58Peter McGratty: because.
- 25:00Peter McGratty: It
- 25:00Peter McGratty: is
- 25:01Peter McGratty: differentiating.
- 25:02Peter McGratty: Not
- 25:02Peter McGratty: everybody
- 25:02Peter McGratty: can
- 25:03Peter McGratty: offer
- 25:03Peter McGratty: it.
- 25:04Peter McGratty: And
- 25:04Peter McGratty: it
- 25:04Peter McGratty: also
- 25:04Peter McGratty: because
- 25:05Peter McGratty: it
- 25:05Peter McGratty: improves
- 25:05Peter McGratty: the
- 25:06Peter McGratty: out
- 25:06Peter McGratty: investment
- 25:07Peter McGratty: outcomes
- 25:07Peter McGratty: of
- 25:07Peter McGratty: the
- 25:08Peter McGratty: clients
- 25:08Peter McGratty: that
- 25:09Peter McGratty: is
- 25:09Peter McGratty: also
- 25:09Peter McGratty: differentiating.
- 25:12Peter McGratty: They
- 25:12Peter McGratty: also
- 25:12Peter McGratty: like
- 25:13Peter McGratty: it
- 25:13Peter McGratty: because
- 25:15Peter McGratty: honestly
- 25:15Peter McGratty: the
- 25:15Peter McGratty: illiquidity
- 25:16Peter McGratty: of
- 25:16Peter McGratty: the
- 25:17Peter McGratty: the,
- 25:17Peter McGratty: of
- 25:18Peter McGratty: the
- 25:18Peter McGratty: investment
- 25:19Peter McGratty: means
- 25:19Peter McGratty: that
- 25:19Peter McGratty: client
- 25:20Peter McGratty: is
- 25:20Peter McGratty: gonna
- 25:20Peter McGratty: be
- 25:20Peter McGratty: one
- 25:21Peter McGratty: of
- 25:21Peter McGratty: your
- 25:21Peter McGratty: clients
- 25:22Peter McGratty: for.
- 25:22Peter McGratty: If
- 25:23Peter McGratty: it's
- 25:23Peter McGratty: locked
- 25:23Peter McGratty: up
- 25:23Peter McGratty: for
- 25:23Peter McGratty: five
- 25:24Peter McGratty: or
- 25:24Peter McGratty: 10
- 25:24Peter McGratty: years,
- 25:25Peter McGratty: there
- 25:25Peter McGratty: it
- 25:25Peter McGratty: helps
- 25:25Peter McGratty: with
- 25:26Peter McGratty: the
- 25:26Peter McGratty: longevity
- 25:26Peter McGratty: of
- 25:27Peter McGratty: the
- 25:27Peter McGratty: client
- 25:27Peter McGratty: relationship.
- 25:28Peter McGratty: But
- 25:28Peter McGratty: the
- 25:28Peter McGratty: real
- 25:28Peter McGratty: reason
- 25:29Peter McGratty: is
- 25:29Peter McGratty: because
- 25:30Peter McGratty: there
- 25:31Peter McGratty: is
- 25:31Peter McGratty: an
- 25:31Peter McGratty: appropriate
- 25:32Peter McGratty: role
- 25:32Peter McGratty: for
- 25:32Peter McGratty: it
- 25:32Peter McGratty: in
- 25:33Peter McGratty: some
- 25:33Peter McGratty: people's
- 25:34Peter McGratty: investment
- 25:34Peter McGratty: portfolios.
- 25:36Peter McGratty: What
- 25:36Peter McGratty: does
- 25:36Peter McGratty: that
- 25:36Peter McGratty: mean
- 25:36Peter McGratty: by
- 25:37Peter McGratty: some
- 25:37Peter McGratty: people's
- 25:38Peter McGratty: investment
- 25:38Peter McGratty: portfolios?
- 25:39Peter McGratty: It
- 25:39Peter McGratty: means.
- 25:40Peter McGratty: Typically
- 25:42Peter McGratty: larger
- 25:42Peter McGratty: clients
- 25:43Peter McGratty: qualified
- 25:44Peter McGratty: purchasers
- 25:45Peter McGratty: north
- 25:45Peter McGratty: of
- 25:45Peter McGratty: 5
- 25:46Peter McGratty: million
- 25:46Peter McGratty: in
- 25:46Peter McGratty: investible
- 25:47Peter McGratty: assets
- 25:48Peter McGratty: or
- 25:48Peter McGratty: family
- 25:49Peter McGratty: office
- 25:49Peter McGratty: type
- 25:49Peter McGratty: clients
- 25:51Peter McGratty: where
- 25:51Peter McGratty: they've
- 25:51Peter McGratty: got
- 25:51Peter McGratty: a
- 25:51Peter McGratty: sufficient
- 25:52Peter McGratty: amount
- 25:52Peter McGratty: of
- 25:53Peter McGratty: assets,
- 25:54Peter McGratty: in
- 25:55Peter McGratty: their
- 25:55Peter McGratty: portfolio
- 25:56Peter McGratty: that
- 25:56Peter McGratty: they
- 25:56Peter McGratty: can
- 25:56Peter McGratty: tolerate.
- 25:58Peter McGratty: A
- 25:58Peter McGratty: portion
- 25:58Peter McGratty: of
- 25:59Peter McGratty: their
- 25:59Peter McGratty: investments
- 25:59Peter McGratty: being
- 26:00Peter McGratty: longer
- 26:00Peter McGratty: term
- 26:01Peter McGratty: and
- 26:01Peter McGratty: less
- 26:01Peter McGratty: liquid
- 26:02Peter McGratty: without
- 26:03Peter McGratty: impacting
- 26:03Peter McGratty: how
- 26:03Peter McGratty: they
- 26:04Peter McGratty: live
- 26:04Peter McGratty: their
- 26:04Peter McGratty: lives
- 26:05Peter McGratty: in
- 26:05Peter McGratty: the
- 26:05Peter McGratty: shorter
- 26:05Peter McGratty: term.
- 26:08Peter McGratty: so
- 26:08Peter McGratty: it's
- 26:08Peter McGratty: not
- 26:08Peter McGratty: for
- 26:08Peter McGratty: everybody
- 26:09Peter McGratty: but
- 26:10Peter McGratty: there
- 26:10Peter McGratty: is
- 26:10Peter McGratty: good
- 26:10Peter McGratty: reason
- 26:11Peter McGratty: to
- 26:11Peter McGratty: offer
- 26:11Peter McGratty: it
- 26:11Peter McGratty: to
- 26:11Peter McGratty: some
- 26:12Peter McGratty: clients,
- 26:13Peter McGratty: and
- 26:13Peter McGratty: there
- 26:13Peter McGratty: is
- 26:13Peter McGratty: good
- 26:13Peter McGratty: reason
- 26:14Peter McGratty: for
- 26:14Peter McGratty: the
- 26:14Peter McGratty: advisors
- 26:15Peter McGratty: to
- 26:15Peter McGratty: want
- 26:16Peter McGratty: to
- 26:16Peter McGratty: offer
- 26:16Peter McGratty: it
- 26:16Peter McGratty: to
- 26:16Peter McGratty: those
- 26:17Peter McGratty: particular
- 26:17Peter McGratty: clients.
- 26:18Peter McGratty: The
- 26:18Peter McGratty: difficulty
- 26:19Peter McGratty: to
- 26:19Peter McGratty: your
- 26:20Peter McGratty: question
- 26:20Peter McGratty: becomes
- 26:22Peter McGratty: how
- 26:23Peter McGratty: does
- 26:23Peter McGratty: an
- 26:24Peter McGratty: A
- 26:24Peter McGratty: wealth
- 26:24Peter McGratty: manager
- 26:25Peter McGratty: offer
- 26:25Peter McGratty: it?
- 26:26Peter McGratty: And
- 26:26Peter McGratty: difficulty
- 26:27Peter McGratty: there
- 26:28Peter McGratty: is
- 26:28Peter McGratty: that
- 26:28Peter McGratty: most
- 26:29Peter McGratty: advisors
- 26:29Peter McGratty: have
- 26:29Peter McGratty: been
- 26:30Peter McGratty: trained
- 26:30Peter McGratty: in
- 26:30Peter McGratty: planning
- 26:31Peter McGratty: and
- 26:31Peter McGratty: in
- 26:31Peter McGratty: doing
- 26:32Peter McGratty: research
- 26:32Peter McGratty: and
- 26:32Peter McGratty: due
- 26:33Peter McGratty: diligence
- 26:33Peter McGratty: for
- 26:33Peter McGratty: public
- 26:34Peter McGratty: investments.
- 26:36Peter McGratty: and
- 26:36Peter McGratty: private
- 26:36Peter McGratty: investments
- 26:37Peter McGratty: are
- 26:37Peter McGratty: very
- 26:38Peter McGratty: different
- 26:38Peter McGratty: in
- 26:39Peter McGratty: terms
- 26:39Peter McGratty: of.
- 26:39Peter McGratty: How
- 26:40Peter McGratty: you
- 26:40Peter McGratty: do
- 26:40Peter McGratty: the
- 26:40Peter McGratty: due
- 26:40Peter McGratty: diligence
- 26:41Peter McGratty: and
- 26:41Peter McGratty: selection.
- 26:42Peter McGratty: They're
- 26:42Peter McGratty: very
- 26:43Peter McGratty: different
- 26:43Peter McGratty: in
- 26:43Peter McGratty: how
- 26:43Peter McGratty: they're
- 26:44Peter McGratty: structured.
- 26:44Peter McGratty: And
- 26:44Peter McGratty: there's
- 26:45Peter McGratty: a
- 26:45Peter McGratty: whole
- 26:45Peter McGratty: vocabulary
- 26:46Peter McGratty: and
- 26:47Peter McGratty: knowledge
- 26:47Peter McGratty: base
- 26:47Peter McGratty: associated
- 26:48Peter McGratty: with
- 26:48Peter McGratty: how
- 26:48Peter McGratty: these
- 26:49Peter McGratty: things
- 26:49Peter McGratty: are
- 26:49Peter McGratty: structured.
- 26:50Peter McGratty: And
- 26:51Peter McGratty: the
- 26:51Peter McGratty: most
- 26:51Peter McGratty: important
- 26:52Peter McGratty: piece
- 26:52Peter McGratty: is
- 26:53Peter McGratty: that
- 26:53Peter McGratty: there's,
- 26:54Peter McGratty: are
- 26:54Peter McGratty: clearly
- 26:55Peter McGratty: less
- 26:55Peter McGratty: liquid
- 26:56Peter McGratty: than
- 26:56Peter McGratty: what
- 26:56Peter McGratty: people
- 26:56Peter McGratty: are
- 26:57Peter McGratty: accustomed
- 26:57Peter McGratty: to
- 26:57Peter McGratty: using.
- 27:00Peter McGratty: and
- 27:00Peter McGratty: so
- 27:01Peter McGratty: so
- 27:01Peter McGratty: the
- 27:01Peter McGratty: first
- 27:02Peter McGratty: part
- 27:02Peter McGratty: of
- 27:02Peter McGratty: it
- 27:02Peter McGratty: is.
- 27:04Peter McGratty: These
- 27:04Peter McGratty: advisors
- 27:04Peter McGratty: need
- 27:05Peter McGratty: a
- 27:05Peter McGratty: certain
- 27:05Peter McGratty: amount
- 27:05Peter McGratty: of
- 27:05Peter McGratty: education
- 27:06Peter McGratty: so
- 27:06Peter McGratty: that
- 27:07Peter McGratty: they
- 27:07Peter McGratty: can
- 27:08Peter McGratty: understand
- 27:08Peter McGratty: it
- 27:09Peter McGratty: and
- 27:09Peter McGratty: make
- 27:09Peter McGratty: good
- 27:09Peter McGratty: decisions
- 27:10Peter McGratty: and
- 27:10Peter McGratty: communicate
- 27:11Peter McGratty: effectively
- 27:12Peter McGratty: with
- 27:12Peter McGratty: their
- 27:12Peter McGratty: clients.
- 27:13Peter McGratty: And
- 27:13Peter McGratty: secondly.
- 27:15Peter McGratty: going
- 27:15Peter McGratty: back
- 27:15Peter McGratty: to
- 27:15Peter McGratty: our
- 27:16Peter McGratty: previous
- 27:16Peter McGratty: discussion,
- 27:16Peter McGratty: a
- 27:17Peter McGratty: scale
- 27:17Peter McGratty: issue.
- 27:18Peter McGratty: You
- 27:18Peter McGratty: need
- 27:18Peter McGratty: to
- 27:19Peter McGratty: have
- 27:19Peter McGratty: the
- 27:19Peter McGratty: right
- 27:19Peter McGratty: people
- 27:20Peter McGratty: who
- 27:20Peter McGratty: have
- 27:20Peter McGratty: experience,
- 27:21Peter McGratty: which
- 27:21Peter McGratty: means
- 27:22Peter McGratty: adding
- 27:22Peter McGratty: somebody
- 27:23Peter McGratty: to
- 27:23Peter McGratty: staff
- 27:24Peter McGratty: that
- 27:24Peter McGratty: has
- 27:24Peter McGratty: experience
- 27:25Peter McGratty: doing
- 27:25Peter McGratty: this.
- 27:25Peter McGratty: And
- 27:26Peter McGratty: you
- 27:26Peter McGratty: gonna
- 27:26Peter McGratty: need
- 27:26Peter McGratty: some
- 27:27Peter McGratty: technology
- 27:27Peter McGratty: to
- 27:28Peter McGratty: help
- 27:28Peter McGratty: manage
- 27:28Peter McGratty: the
- 27:28Peter McGratty: administration
- 27:29Peter McGratty: because
- 27:30Peter McGratty: there's
- 27:30Peter McGratty: a
- 27:30Peter McGratty: lot
- 27:30Peter McGratty: of
- 27:30Peter McGratty: paperwork
- 27:31Peter McGratty: associated
- 27:32Peter McGratty: with
- 27:32Peter McGratty: this.
- 27:32Peter McGratty: And
- 27:32Peter McGratty: oftentimes
- 27:34Peter McGratty: that's
- 27:34Peter McGratty: too
- 27:34Peter McGratty: much
- 27:34Peter McGratty: for
- 27:35Peter McGratty: the
- 27:35Peter McGratty: smaller
- 27:35Peter McGratty: firms.
- 27:37Peter McGratty: To
- 27:37Peter McGratty: take
- 27:37Peter McGratty: on.
- 27:37Peter McGratty: And
- 27:37Peter McGratty: so
- 27:38Peter McGratty: they
- 27:38Peter McGratty: really
- 27:38Peter McGratty: need
- 27:39Peter McGratty: a
- 27:39Peter McGratty: a
- 27:39Peter McGratty: third
- 27:40Peter McGratty: party
- 27:40Peter McGratty: solution
- 27:41Peter McGratty: and
- 27:41Peter McGratty: borrow
- 27:41Peter McGratty: somebody
- 27:42Peter McGratty: else's
- 27:42Peter McGratty: scale.
- 27:45Peter McGratty: so
- 27:45Peter McGratty: that's
- 27:45Peter McGratty: the
- 27:45Peter McGratty: addition.
- 27:46Peter McGratty: That's
- 27:46Peter McGratty: that
- 27:47Peter McGratty: sort
- 27:47Peter McGratty: of
- 27:47Peter McGratty: covers
- 27:47Peter McGratty: why
- 27:48Peter McGratty: it's
- 27:48Peter McGratty: difficult
- 27:48Peter McGratty: to
- 27:49Peter McGratty: offer
- 27:49Peter McGratty: it
- 27:50Peter McGratty: that
- 27:51Peter McGratty: as
- 27:51Peter McGratty: a
- 27:51Peter McGratty: consequence
- 27:52Peter McGratty: of
- 27:52Peter McGratty: that,
- 27:52Peter McGratty: what
- 27:52Peter McGratty: you've
- 27:53Peter McGratty: seen,
- 27:53Peter McGratty: and
- 27:54Peter McGratty: I'm
- 27:54Peter McGratty: gonna,
- 27:54Peter McGratty: I'm
- 27:54Peter McGratty: gonna
- 27:55Peter McGratty: summarize
- 27:55Peter McGratty: a
- 27:55Peter McGratty: little
- 27:56Peter McGratty: bit
- 27:56Peter McGratty: here.
- 27:58Peter McGratty: of
- 27:58Peter McGratty: that.
- 27:59Peter McGratty: seen
- 27:59Peter McGratty: is
- 27:59Peter McGratty: that
- 27:59Peter McGratty: there's
- 28:00Peter McGratty: been
- 28:00Peter McGratty: a
- 28:00Peter McGratty: lot
- 28:00Peter McGratty: of
- 28:00Peter McGratty: interest
- 28:01Peter McGratty: that,
- 28:01Peter McGratty: you
- 28:01Peter McGratty: know,
- 28:01Peter McGratty: the
- 28:01Peter McGratty: private
- 28:02Peter McGratty: investments
- 28:02Peter McGratty: world,
- 28:03Peter McGratty: the
- 28:03Peter McGratty: private
- 28:03Peter McGratty: markets
- 28:04Peter McGratty: world
- 28:04Peter McGratty: has
- 28:04Peter McGratty: identified
- 28:05Peter McGratty: that
- 28:06Peter McGratty: is,
- 28:06Peter McGratty: there's
- 28:06Peter McGratty: a
- 28:06Peter McGratty: lot
- 28:06Peter McGratty: of
- 28:07Peter McGratty: assets
- 28:07Peter McGratty: that
- 28:07Peter McGratty: could
- 28:07Peter McGratty: be.
- 28:08Peter McGratty: Invested
- 28:09Peter McGratty: in
- 28:09Peter McGratty: the
- 28:09Peter McGratty: Wealth
- 28:10Peter McGratty: Management
- 28:10Peter McGratty: Channel,
- 28:11Peter McGratty: they've
- 28:11Peter McGratty: identified
- 28:12Peter McGratty: that
- 28:12Peter McGratty: there
- 28:13Peter McGratty: is
- 28:13Peter McGratty: interest.
- 28:14Peter McGratty: There's
- 28:14Peter McGratty: a
- 28:14Peter McGratty: role
- 28:15Peter McGratty: for
- 28:15Peter McGratty: client
- 28:15Peter McGratty: private
- 28:16Peter McGratty: investments
- 28:16Peter McGratty: in
- 28:16Peter McGratty: client
- 28:17Peter McGratty: portfolios.
- 28:18Peter McGratty: They've
- 28:18Peter McGratty: identified
- 28:19Peter McGratty: that
- 28:19Peter McGratty: there's
- 28:19Peter McGratty: interest
- 28:20Peter McGratty: from
- 28:20Peter McGratty: advisors
- 28:21Peter McGratty: themselves.
- 28:22Peter McGratty: But
- 28:23Peter McGratty: the
- 28:23Peter McGratty: thing
- 28:23Peter McGratty: that
- 28:23Peter McGratty: has
- 28:23Peter McGratty: not
- 28:24Peter McGratty: been
- 28:24Peter McGratty: tackled
- 28:25Peter McGratty: are
- 28:25Peter McGratty: these
- 28:25Peter McGratty: education
- 28:26Peter McGratty: and
- 28:27Peter McGratty: due
- 28:27Peter McGratty: diligence
- 28:28Peter McGratty: and
- 28:28Peter McGratty: selection
- 28:28Peter McGratty: issues.
- 28:30Peter McGratty: That
- 28:31Peter McGratty: the
- 28:31Peter McGratty: industry
- 28:31Peter McGratty: has
- 28:32Peter McGratty: not
- 28:32Peter McGratty: prepared
- 28:32Peter McGratty: to
- 28:32Peter McGratty: do.
- 28:33Peter McGratty: And
- 28:34Peter McGratty: then
- 28:34Peter McGratty: once
- 28:34Peter McGratty: the
- 28:34Peter McGratty: private
- 28:35Peter McGratty: markets
- 28:36Peter McGratty: providers,
- 28:36Peter McGratty: the
- 28:36Peter McGratty: funds
- 28:37Peter McGratty: realized
- 28:38Peter McGratty: that,
- 28:38Peter McGratty: that's
- 28:38Peter McGratty: a,
- 28:39Peter McGratty: that's
- 28:39Peter McGratty: gonna
- 28:39Peter McGratty: be
- 28:39Peter McGratty: a
- 28:39Peter McGratty: difficult
- 28:40Peter McGratty: obstacle
- 28:41Peter McGratty: to
- 28:41Peter McGratty: getting
- 28:41Peter McGratty: those
- 28:42Peter McGratty: dollars
- 28:42Peter McGratty: invested.
- 28:43Peter McGratty: They
- 28:43Peter McGratty: started
- 28:44Peter McGratty: creating
- 28:45Peter McGratty: what
- 28:45Peter McGratty: the,
- 28:45Peter McGratty: what
- 28:45Peter McGratty: they
- 28:46Peter McGratty: call
- 28:46Peter McGratty: interval
- 28:46Peter McGratty: funds,
- 28:47Peter McGratty: where
- 28:48Peter McGratty: they
- 28:48Peter McGratty: put
- 28:48Peter McGratty: a
- 28:48Peter McGratty: long
- 28:49Peter McGratty: duration,
- 28:50Peter McGratty: illiquid
- 28:51Peter McGratty: private
- 28:51Peter McGratty: investment
- 28:52Peter McGratty: in
- 28:53Peter McGratty: a
- 28:53Peter McGratty: semi-liquid
- 28:54Peter McGratty: wrapper
- 28:55Peter McGratty: that
- 28:55Peter McGratty: looks
- 28:56Peter McGratty: and
- 28:56Peter McGratty: feels
- 28:56Peter McGratty: more
- 28:57Peter McGratty: like.
- 28:58Peter McGratty: A
- 28:58Peter McGratty: public
- 28:59Peter McGratty: investment
- 28:59Peter McGratty: where
- 29:00Peter McGratty: there's
- 29:00Peter McGratty: a
- 29:00Peter McGratty: daily
- 29:00Peter McGratty: NAV
- 29:02Peter McGratty: and
- 29:02Peter McGratty: there
- 29:02Peter McGratty: is
- 29:02Peter McGratty: some
- 29:03Peter McGratty: liquidity.
- 29:04Peter McGratty: While
- 29:04Peter McGratty: it's
- 29:04Peter McGratty: not
- 29:05Peter McGratty: daily
- 29:05Peter McGratty: liquidity,
- 29:06Peter McGratty: it's
- 29:06Peter McGratty: often
- 29:06Peter McGratty: quarterly
- 29:07Peter McGratty: liquidity,
- 29:07Peter McGratty: and
- 29:08Peter McGratty: that
- 29:08Peter McGratty: liquidity
- 29:08Peter McGratty: is
- 29:09Peter McGratty: limited.
- 29:10Peter McGratty: You
- 29:10Peter McGratty: know,
- 29:10Peter McGratty: you
- 29:10Peter McGratty: may
- 29:10Peter McGratty: only,
- 29:11Peter McGratty: well,
- 29:11Peter McGratty: maybe
- 29:11Peter McGratty: only
- 29:11Peter McGratty: 5%
- 29:12Peter McGratty: of
- 29:12Peter McGratty: the
- 29:12Peter McGratty: fund
- 29:12Peter McGratty: can
- 29:13Peter McGratty: be
- 29:14Peter McGratty: liquidated.
- 29:15Peter McGratty: And
- 29:15Peter McGratty: that
- 29:15Peter McGratty: creates,
- 29:17Peter McGratty: I
- 29:17Peter McGratty: think
- 29:17Peter McGratty: the
- 29:17Peter McGratty: difficulty
- 29:18Peter McGratty: that
- 29:18Peter McGratty: you're
- 29:18Peter McGratty: alluding
- 29:19Peter McGratty: to
- 29:19Peter McGratty: and
- 29:19Peter McGratty: that
- 29:19Peter McGratty: we're
- 29:19Peter McGratty: seeing
- 29:20Peter McGratty: in
- 29:20Peter McGratty: the
- 29:20Peter McGratty: news
- 29:20Peter McGratty: today
- 29:21Peter McGratty: is
- 29:21Peter McGratty: that
- 29:22Peter McGratty: it
- 29:22Peter McGratty: feels
- 29:23Peter McGratty: like
- 29:23Peter McGratty: a
- 29:23Peter McGratty: liquid
- 29:24Peter McGratty: public
- 29:24Peter McGratty: investment.
- 29:26Peter McGratty: when
- 29:26Peter McGratty: there's
- 29:26Peter McGratty: trouble
- 29:27Peter McGratty: and
- 29:27Peter McGratty: the
- 29:27Peter McGratty: client
- 29:28Peter McGratty: wants
- 29:28Peter McGratty: to
- 29:28Peter McGratty: get
- 29:28Peter McGratty: out
- 29:29Peter McGratty: the,
- 29:30Peter McGratty: they
- 29:30Peter McGratty: can't,
- 29:30Peter McGratty: the
- 29:30Peter McGratty: exits
- 29:31Peter McGratty: are
- 29:31Peter McGratty: closed.
- 29:32Peter McGratty: And
- 29:32Peter McGratty: so
- 29:34Peter McGratty: they're
- 29:34Peter McGratty: all
- 29:34Peter McGratty: caught
- 29:34Peter McGratty: off
- 29:34Peter McGratty: guard.
- 29:35Peter McGratty: I
- 29:35Peter McGratty: thought
- 29:35Peter McGratty: this
- 29:35Peter McGratty: was
- 29:36Peter McGratty: just
- 29:36Peter McGratty: like
- 29:36Peter McGratty: the
- 29:36Peter McGratty: rest
- 29:37Peter McGratty: of
- 29:37Peter McGratty: my
- 29:37Peter McGratty: public
- 29:37Peter McGratty: investments
- 29:38Peter McGratty: and
- 29:38Peter McGratty: it's
- 29:38Peter McGratty: not.
- 29:40Peter McGratty: and
- 29:40Peter McGratty: that
- 29:40Peter McGratty: can
- 29:41Peter McGratty: create
- 29:41Peter McGratty: some
- 29:41Peter McGratty: difficulty.
- 29:42Peter McGratty: So
- 29:42Peter McGratty: the
- 29:43Peter McGratty: industry
- 29:43Peter McGratty: tried
- 29:43Peter McGratty: to
- 29:43Peter McGratty: take
- 29:44Peter McGratty: a
- 29:44Peter McGratty: shortcut
- 29:44Peter McGratty: around
- 29:45Peter McGratty: the
- 29:45Peter McGratty: two
- 29:45Peter McGratty: things
- 29:46Peter McGratty: that
- 29:46Peter McGratty: we
- 29:46Peter McGratty: said.
- 29:46Peter McGratty: You
- 29:47Peter McGratty: need
- 29:47Peter McGratty: more
- 29:47Peter McGratty: education
- 29:48Peter McGratty: and
- 29:49Peter McGratty: you
- 29:49Peter McGratty: need,
- 29:49Peter McGratty: and
- 29:49Peter McGratty: the
- 29:50Peter McGratty: advisors
- 29:50Peter McGratty: needs
- 29:51Peter McGratty: more
- 29:51Peter McGratty: support
- 29:52Peter McGratty: around
- 29:52Peter McGratty: due
- 29:52Peter McGratty: diligence
- 29:53Peter McGratty: and
- 29:53Peter McGratty: selection.
- 29:54Peter McGratty: This
- 29:54Peter McGratty: just
- 29:54Peter McGratty: can't
- 29:54Peter McGratty: be
- 29:55Peter McGratty: a
- 29:55Peter McGratty: supermarket
- 29:56Peter McGratty: where
- 29:56Peter McGratty: they
- 29:56Peter McGratty: go
- 29:56Peter McGratty: in
- 29:56Peter McGratty: and
- 29:56Peter McGratty: choose,
- 29:57Peter McGratty: and
- 29:57Peter McGratty: if
- 29:58Peter McGratty: they're
- 29:58Peter McGratty: wrong,
- 29:58Peter McGratty: they
- 29:58Peter McGratty: can
- 29:59Peter McGratty: get
- 29:59Peter McGratty: out
- 29:59Peter McGratty: immediately.
- 30:00Peter McGratty: Does
- 30:00Peter McGratty: that
- 30:00Peter McGratty: make
- 30:01Peter McGratty: sense?
- 30:01Ryan: Yeah,
- 30:02Ryan: Pete,
- 30:02Ryan: that's
- 30:02Ryan: fantastic.
- 30:03Ryan: And
- 30:04Ryan: really,
- 30:05Ryan: that's
- 30:05Ryan: exactly
- 30:06Ryan: what
- 30:06Ryan: I'm
- 30:06Ryan: seeing
- 30:07Ryan: on
- 30:07Ryan: my
- 30:07Ryan: side
- 30:07Ryan: too,
- 30:08Ryan: is.
- 30:08Ryan: I
- 30:09Ryan: think
- 30:09Ryan: you
- 30:09Ryan: said
- 30:10Ryan: at
- 30:10Ryan: the
- 30:10Ryan: beginning,
- 30:10Ryan: there's
- 30:11Ryan: that
- 30:11Ryan: misalignment.
- 30:12Ryan: Private
- 30:13Ryan: markets,
- 30:14Ryan: whether
- 30:14Ryan: it's
- 30:14Ryan: credit
- 30:15Ryan: equity,
- 30:16Ryan: any
- 30:16Ryan: illiquid
- 30:18Ryan: investment,
- 30:19Ryan: it
- 30:19Ryan: can
- 30:19Ryan: be
- 30:19Ryan: a
- 30:19Ryan: fantastic,
- 30:20Ryan: just
- 30:20Ryan: like
- 30:20Ryan: you
- 30:20Ryan: say,
- 30:21Ryan: it
- 30:21Ryan: can
- 30:21Ryan: be
- 30:21Ryan: a
- 30:21Ryan: fantastic
- 30:22Ryan: investment
- 30:22Ryan: in
- 30:23Ryan: the
- 30:23Ryan: right
- 30:23Ryan: portfolio
- 30:24Ryan: for
- 30:24Ryan: the
- 30:24Ryan: right
- 30:25Ryan: investor.
- 30:26Ryan: At
- 30:26Ryan: the
- 30:27Ryan: very
- 30:27Ryan: same
- 30:27Ryan: time,
- 30:28Ryan: that
- 30:28Ryan: same
- 30:29Ryan: investment
- 30:30Ryan: can
- 30:30Ryan: be
- 30:30Ryan: a
- 30:30Ryan: terrible
- 30:31Ryan: investment
- 30:32Ryan: in
- 30:32Ryan: the
- 30:32Ryan: wrong
- 30:32Ryan: portfolio,
- 30:33Ryan: wrong
- 30:33Ryan: client.
- 30:34Ryan: So
- 30:35Ryan: the
- 30:35Ryan: alignment
- 30:36Ryan: is
- 30:36Ryan: so
- 30:36Ryan: important.
- 30:36Ryan: And
- 30:37Ryan: then
- 30:37Ryan: you
- 30:37Ryan: mentioned
- 30:37Ryan: education.
- 30:39Ryan: That's
- 30:39Ryan: so
- 30:39Ryan: important
- 30:39Ryan: all
- 30:40Ryan: the
- 30:40Ryan: way
- 30:40Ryan: from
- 30:41Ryan: to
- 30:41Ryan: the
- 30:41Ryan: financial
- 30:41Ryan: advisor
- 30:42Ryan: to
- 30:42Ryan: the
- 30:42Ryan: client
- 30:43Ryan: because
- 30:45Ryan: the
- 30:45Ryan: worst
- 30:45Ryan: thing
- 30:45Ryan: that
- 30:45Ryan: can
- 30:45Ryan: happen
- 30:46Ryan: is
- 30:47Ryan: when
- 30:48Ryan: there's
- 30:48Ryan: that
- 30:48Ryan: first
- 30:48Ryan: sign
- 30:49Ryan: of
- 30:49Ryan: distress
- 30:49Ryan: like
- 30:49Ryan: we're
- 30:50Ryan: having
- 30:50Ryan: now,
- 30:50Ryan: market
- 30:51Ryan: uncertainty,
- 30:51Ryan: the
- 30:51Ryan: crisis,
- 30:52Ryan: the
- 30:53Ryan: conflict.
- 30:55Ryan: Guess
- 30:55Ryan: what
- 30:55Ryan: a
- 30:55Ryan: client's
- 30:55Ryan: gonna
- 30:56Ryan: do?
- 30:56Ryan: They're
- 30:57Ryan: gonna
- 30:57Ryan: run
- 30:57Ryan: to
- 30:57Ryan: the
- 30:58Ryan: exits.
- 30:58Ryan: And
- 30:59Ryan: we
- 30:59Ryan: know
- 30:59Ryan: it's
- 30:59Ryan: behavioral
- 31:01Ryan: and
- 31:02Ryan: that's
- 31:02Ryan: what
- 31:02Ryan: we're
- 31:02Ryan: seeing
- 31:03Ryan: now
- 31:03Ryan: is.
- 31:05Ryan: They
- 31:05Ryan: want
- 31:06Ryan: liquidity
- 31:07Ryan: and
- 31:08Ryan: whether
- 31:08Ryan: even
- 31:08Ryan: an
- 31:08Ryan: interval
- 31:09Ryan: fund
- 31:09Ryan: there,
- 31:09Ryan: it's,
- 31:10Ryan: it's
- 31:10Ryan: semi-liquid.
- 31:11Ryan: And
- 31:12Ryan: it,
- 31:12Ryan: it
- 31:12Ryan: poses
- 31:13Ryan: issues
- 31:13Ryan: and
- 31:13Ryan: that's
- 31:13Ryan: what
- 31:13Ryan: we're
- 31:14Ryan: seeing.
- 31:14Ryan: And
- 31:15Ryan: it
- 31:15Ryan: all,
- 31:15Ryan: I,
- 31:15Ryan: like
- 31:15Ryan: I
- 31:16Ryan: said,
- 31:16Ryan: it
- 31:16Ryan: all
- 31:16Ryan: comes
- 31:16Ryan: down
- 31:16Ryan: to
- 31:17Ryan: alignment
- 31:17Ryan: and,
- 31:18Ryan: and
- 31:18Ryan: education,
- 31:20Ryan: so
- 31:20Ryan: Fantastic.
- 31:21Peter McGratty: just
- 31:21Peter McGratty: add
- 31:21Peter McGratty: to
- 31:22Peter McGratty: that
- 31:22Peter McGratty: what
- 31:22Peter McGratty: we're
- 31:22Peter McGratty: seeing
- 31:23Peter McGratty: in
- 31:23Peter McGratty: the
- 31:23Peter McGratty: press
- 31:23Peter McGratty: right
- 31:24Peter McGratty: now
- 31:24Peter McGratty: with
- 31:24Peter McGratty: some
- 31:24Peter McGratty: of
- 31:24Peter McGratty: this
- 31:25Peter McGratty: private
- 31:25Peter McGratty: credit
- 31:25Peter McGratty: news.
- 31:27Peter McGratty: Everybody
- 31:27Peter McGratty: is
- 31:27Peter McGratty: experiencing
- 31:28Peter McGratty: this.
- 31:28Peter McGratty: So
- 31:29Peter McGratty: again,
- 31:29Peter McGratty: this
- 31:29Peter McGratty: goes
- 31:29Peter McGratty: back
- 31:30Peter McGratty: to
- 31:30Peter McGratty: due
- 31:30Peter McGratty: diligence
- 31:30Peter McGratty: and
- 31:31Peter McGratty: selection.
- 31:32Peter McGratty: A,
- 31:32Peter McGratty: there's
- 31:32Peter McGratty: a
- 31:32Peter McGratty: very
- 31:32Peter McGratty: simple
- 31:33Peter McGratty: rule
- 31:33Peter McGratty: that
- 31:34Peter McGratty: you
- 31:34Peter McGratty: often
- 31:34Peter McGratty: follow
- 31:35Peter McGratty: in
- 31:35Peter McGratty: when
- 31:36Peter McGratty: you're
- 31:36Peter McGratty: investing
- 31:36Peter McGratty: in
- 31:36Peter McGratty: private
- 31:37Peter McGratty: markets.
- 31:37Peter McGratty: And
- 31:37Peter McGratty: that
- 31:37Peter McGratty: is
- 31:38Peter McGratty: you
- 31:38Peter McGratty: wanna
- 31:39Peter McGratty: be
- 31:39Peter McGratty: in
- 31:39Peter McGratty: the
- 31:39Peter McGratty: funds
- 31:39Peter McGratty: that
- 31:40Peter McGratty: don't
- 31:40Peter McGratty: want
- 31:40Peter McGratty: you
- 31:40Peter McGratty: as
- 31:40Peter McGratty: an
- 31:41Peter McGratty: investor
- 31:42Peter McGratty: 'cause
- 31:42Peter McGratty: those
- 31:42Peter McGratty: funds.
- 31:44Peter McGratty: Are
- 31:44Peter McGratty: doing
- 31:44Peter McGratty: so
- 31:44Peter McGratty: well
- 31:45Peter McGratty: at
- 31:45Peter McGratty: the
- 31:45Peter McGratty: investment
- 31:46Peter McGratty: side
- 31:46Peter McGratty: that
- 31:46Peter McGratty: they
- 31:46Peter McGratty: don't
- 31:46Peter McGratty: really
- 31:47Peter McGratty: have
- 31:47Peter McGratty: to
- 31:47Peter McGratty: work
- 31:47Peter McGratty: hard
- 31:48Peter McGratty: to
- 31:48Peter McGratty: raise
- 31:48Peter McGratty: capital.
- 31:48Peter McGratty: They're
- 31:49Peter McGratty: very
- 31:49Peter McGratty: focused
- 31:50Peter McGratty: on
- 31:50Peter McGratty: the
- 31:50Peter McGratty: investments
- 31:50Peter McGratty: themselves,
- 31:51Peter McGratty: they
- 31:51Peter McGratty: tend
- 31:52Peter McGratty: to
- 31:52Peter McGratty: have
- 31:52Peter McGratty: a
- 31:52Peter McGratty: much.
- 31:53Peter McGratty: I
- 31:53Peter McGratty: tend
- 31:54Peter McGratty: to
- 31:54Peter McGratty: have
- 31:54Peter McGratty: a
- 31:54Peter McGratty: more
- 31:55Peter McGratty: limited
- 31:55Peter McGratty: amount
- 31:55Peter McGratty: of
- 31:55Peter McGratty: capital
- 31:56Peter McGratty: and
- 31:56Peter McGratty: a
- 31:56Peter McGratty: much
- 31:56Peter McGratty: narrower
- 31:57Peter McGratty: focus,
- 31:58Peter McGratty: which
- 31:58Peter McGratty: allows
- 31:58Peter McGratty: 'em
- 31:58Peter McGratty: to
- 31:58Peter McGratty: really
- 31:59Peter McGratty: know
- 31:59Peter McGratty: what
- 31:59Peter McGratty: their
- 32:00Peter McGratty: niche
- 32:00Peter McGratty: market
- 32:00Peter McGratty: is
- 32:01Peter McGratty: and
- 32:01Peter McGratty: manage.
- 32:02Peter McGratty: And
- 32:02Peter McGratty: that
- 32:02Peter McGratty: makes
- 32:03Peter McGratty: it
- 32:03Peter McGratty: easier
- 32:03Peter McGratty: to
- 32:03Peter McGratty: generate
- 32:04Peter McGratty: alpha
- 32:04Peter McGratty: and
- 32:04Peter McGratty: to
- 32:04Peter McGratty: manage
- 32:05Peter McGratty: risk.
- 32:06Peter McGratty: You
- 32:06Peter McGratty: know,
- 32:06Peter McGratty: some
- 32:06Peter McGratty: of
- 32:06Peter McGratty: these
- 32:07Peter McGratty: interval
- 32:07Peter McGratty: funds,
- 32:08Peter McGratty: the
- 32:08Peter McGratty: reason
- 32:08Peter McGratty: they
- 32:08Peter McGratty: created
- 32:09Peter McGratty: them
- 32:09Peter McGratty: is
- 32:09Peter McGratty: 'cause
- 32:09Peter McGratty: they
- 32:09Peter McGratty: wanted
- 32:10Peter McGratty: everybody.
- 32:12Peter McGratty: and
- 32:12Peter McGratty: they,
- 32:12Peter McGratty: maybe
- 32:12Peter McGratty: they
- 32:12Peter McGratty: weren't
- 32:13Peter McGratty: doing
- 32:13Peter McGratty: such
- 32:13Peter McGratty: as
- 32:14Peter McGratty: good
- 32:14Peter McGratty: a
- 32:14Peter McGratty: job
- 32:15Peter McGratty: on
- 32:15Peter McGratty: the
- 32:15Peter McGratty: investment
- 32:16Peter McGratty: side.
- 32:16Peter McGratty: And
- 32:16Peter McGratty: so
- 32:16Peter McGratty: I
- 32:16Peter McGratty: say
- 32:17Peter McGratty: that
- 32:17Peter McGratty: because.
- 32:19Peter McGratty: for
- 32:19Peter McGratty: example,
- 32:20Peter McGratty: our
- 32:20Peter McGratty: private
- 32:21Peter McGratty: credit
- 32:21Peter McGratty: fund
- 32:21Peter McGratty: has
- 32:21Peter McGratty: had
- 32:22Peter McGratty: no
- 32:22Peter McGratty: issues
- 32:22Peter McGratty: to
- 32:22Peter McGratty: date.
- 32:23Peter McGratty: We
- 32:23Peter McGratty: tend
- 32:23Peter McGratty: to
- 32:23Peter McGratty: work
- 32:24Peter McGratty: with
- 32:24Peter McGratty: mid-tier
- 32:24Peter McGratty: firms
- 32:25Peter McGratty: that
- 32:25Peter McGratty: are
- 32:25Peter McGratty: not
- 32:26Peter McGratty: the
- 32:26Peter McGratty: ones
- 32:26Peter McGratty: at
- 32:26Peter McGratty: the
- 32:26Peter McGratty: conferences
- 32:27Peter McGratty: or
- 32:27Peter McGratty: on
- 32:27Peter McGratty: tv.
- 32:28Peter McGratty: They're
- 32:29Peter McGratty: very,
- 32:29Peter McGratty: they're
- 32:29Peter McGratty: specialists
- 32:30Peter McGratty: in
- 32:30Peter McGratty: their
- 32:30Peter McGratty: particular
- 32:31Peter McGratty: niche
- 32:32Peter McGratty: of
- 32:32Peter McGratty: the
- 32:32Peter McGratty: market.
- 32:33Peter McGratty: And.
- 32:34Peter McGratty: Knock
- 32:34Peter McGratty: on
- 32:35Peter McGratty: wood.
- 32:35Peter McGratty: The
- 32:36Peter McGratty: private
- 32:36Peter McGratty: credit
- 32:36Peter McGratty: fund
- 32:37Peter McGratty: that
- 32:37Peter McGratty: we're
- 32:37Peter McGratty: working
- 32:37Peter McGratty: with
- 32:38Peter McGratty: has
- 32:38Peter McGratty: had
- 32:38Peter McGratty: no
- 32:38Peter McGratty: issues
- 32:39Peter McGratty: because
- 32:39Peter McGratty: they
- 32:39Peter McGratty: have
- 32:39Peter McGratty: a
- 32:39Peter McGratty: very
- 32:40Peter McGratty: narrow
- 32:40Peter McGratty: focus
- 32:41Peter McGratty: and
- 32:42Peter McGratty: are
- 32:42Peter McGratty: not
- 32:42Peter McGratty: invested
- 32:42Peter McGratty: in
- 32:42Peter McGratty: this
- 32:43Peter McGratty: type
- 32:43Peter McGratty: of
- 32:43Peter McGratty: stuff
- 32:43Peter McGratty: that
- 32:43Peter McGratty: some
- 32:44Peter McGratty: of
- 32:44Peter McGratty: these
- 32:44Peter McGratty: bigger
- 32:44Peter McGratty: funds
- 32:45Peter McGratty: are.
- 32:46Peter McGratty: so
- 32:46Peter McGratty: I
- 32:46Peter McGratty: don't
- 32:47Peter McGratty: want
- 32:47Peter McGratty: everybody
- 32:47Peter McGratty: to
- 32:47Peter McGratty: think,
- 32:48Peter McGratty: you
- 32:48Peter McGratty: know,
- 32:49Peter McGratty: use
- 32:49Peter McGratty: a
- 32:49Peter McGratty: broad
- 32:49Peter McGratty: brush
- 32:50Peter McGratty: and
- 32:50Peter McGratty: say
- 32:50Peter McGratty: all
- 32:50Peter McGratty: funds
- 32:51Peter McGratty: are
- 32:51Peter McGratty: bad.
- 32:53Peter McGratty: It
- 32:53Peter McGratty: again,
- 32:53Peter McGratty: comes
- 32:53Peter McGratty: back
- 32:54Peter McGratty: to
- 32:54Peter McGratty: this
- 32:55Peter McGratty: due
- 32:55Peter McGratty: diligence
- 32:55Peter McGratty: and
- 32:56Peter McGratty: selection.
- 32:56Peter McGratty: There
- 32:56Peter McGratty: are
- 32:57Peter McGratty: very
- 32:57Peter McGratty: good
- 32:57Peter McGratty: opportunities
- 32:58Peter McGratty: even
- 32:59Peter McGratty: when
- 32:59Peter McGratty: markets
- 32:59Peter McGratty: are
- 32:59Peter McGratty: difficult
- 33:00Peter McGratty: like
- 33:00Peter McGratty: they
- 33:00Peter McGratty: are
- 33:00Peter McGratty: now.
- 33:01Peter McGratty: But
- 33:02Peter McGratty: clearly,
- 33:02Peter McGratty: I
- 33:02Peter McGratty: think
- 33:03Peter McGratty: you
- 33:03Peter McGratty: nailed
- 33:03Peter McGratty: it
- 33:03Peter McGratty: on
- 33:03Peter McGratty: the
- 33:04Peter McGratty: head
- 33:04Peter McGratty: that
- 33:05Peter McGratty: the
- 33:05Peter McGratty: interval
- 33:06Peter McGratty: fund,
- 33:07Peter McGratty: in
- 33:07Peter McGratty: particular,
- 33:09Peter McGratty: the
- 33:09Peter McGratty: structure
- 33:09Peter McGratty: of
- 33:10Peter McGratty: that
- 33:10Peter McGratty: has,
- 33:10Peter McGratty: what
- 33:11Peter McGratty: was
- 33:11Peter McGratty: the
- 33:11Peter McGratty: word
- 33:11Peter McGratty: you
- 33:11Peter McGratty: used
- 33:11Peter McGratty: in
- 33:11Peter McGratty: con
- 33:12Peter McGratty: misalignment.
- 33:14Peter McGratty: and
- 33:14Peter McGratty: it
- 33:14Peter McGratty: absolutely
- 33:15Peter McGratty: is
- 33:15Peter McGratty: misalign
- 33:15Peter McGratty: taking
- 33:16Peter McGratty: a
- 33:16Peter McGratty: long
- 33:16Peter McGratty: duration
- 33:17Peter McGratty: asset
- 33:17Peter McGratty: and
- 33:17Peter McGratty: putting
- 33:18Peter McGratty: it
- 33:18Peter McGratty: in
- 33:18Peter McGratty: a
- 33:18Peter McGratty: short
- 33:18Peter McGratty: duration
- 33:19Peter McGratty: vehicle,
- 33:20Peter McGratty: and
- 33:20Peter McGratty: that
- 33:21Peter McGratty: doesn't
- 33:21Peter McGratty: work.
- 33:22Ryan: Yeah.
- 33:23Ryan: Yeah.
- 33:23Ryan: And
- 33:23Ryan: let's
- 33:23Ryan: talk
- 33:24Ryan: about
- 33:24Ryan: the
- 33:24Ryan: due
- 33:24Ryan: diligence.
- 33:25Ryan: I'm
- 33:25Ryan: really
- 33:25Ryan: glad
- 33:25Ryan: you
- 33:25Ryan: brought
- 33:26Ryan: that
- 33:26Ryan: because
- 33:27Ryan: I've
- 33:27Ryan: gone
- 33:27Ryan: to
- 33:28Ryan: some
- 33:28Ryan: private
- 33:29Ryan: market
- 33:29Ryan: like
- 33:29Ryan: super
- 33:30Ryan: return
- 33:31Ryan: private
- 33:31Ryan: market
- 33:31Ryan: conferences,
- 33:32Ryan: and.
- 33:33Ryan: Just
- 33:33Ryan: the
- 33:34Ryan: terminology
- 33:35Ryan: they
- 33:35Ryan: use.
- 33:35Ryan: I,
- 33:35Ryan: I
- 33:36Ryan: am,
- 33:36Ryan: I'm
- 33:36Ryan: moderating
- 33:37Ryan: a
- 33:37Ryan: session
- 33:38Ryan: and
- 33:38Ryan: here
- 33:38Ryan: I
- 33:38Ryan: am.
- 33:39Ryan: I
- 33:39Ryan: gotta
- 33:39Ryan: pull
- 33:39Ryan: up
- 33:39Ryan: my
- 33:39Ryan: phone
- 33:40Ryan: and
- 33:40Ryan: Google
- 33:40Ryan: it
- 33:40Ryan: real
- 33:41Ryan: quick.
- 33:41Ryan: Be
- 33:41Ryan: like,
- 33:41Ryan: oh
- 33:42Ryan: my
- 33:42Ryan: gosh.
- 33:42Ryan: What,
- 33:42Ryan: what
- 33:42Ryan: are
- 33:43Ryan: they
- 33:43Ryan: talking
- 33:43Ryan: about?
- 33:44Ryan: It's
- 33:44Ryan: not
- 33:45Ryan: like
- 33:45Ryan: they're
- 33:45Ryan: talking
- 33:45Ryan: about
- 33:45Ryan: when
- 33:46Ryan: they're
- 33:46Ryan: doing
- 33:46Ryan: due
- 33:46Ryan: diligence,
- 33:47Ryan: sharp
- 33:47Ryan: ratios
- 33:49Ryan: and
- 33:49Ryan: standard
- 33:49Ryan: dv.
- 33:50Ryan: It's
- 33:50Ryan: a
- 33:50Ryan: whole
- 33:51Ryan: different
- 33:52Ryan: world
- 33:52Ryan: for
- 33:53Ryan: terminology
- 33:54Ryan: due
- 33:55Ryan: diligence.
- 33:56Ryan: How
- 33:57Ryan: can
- 33:57Ryan: you
- 33:57Ryan: overcome,
- 33:58Ryan: I
- 33:58Ryan: mean,
- 33:58Ryan: as
- 33:58Ryan: a
- 33:58Ryan: financial
- 33:59Ryan: advisor
- 34:00Ryan: at
- 34:00Ryan: that
- 34:00Ryan: point,
- 34:00Ryan: should
- 34:00Ryan: just
- 34:01Ryan: kind
- 34:01Ryan: of
- 34:01Ryan: stick
- 34:01Ryan: to
- 34:02Ryan: what
- 34:02Ryan: you
- 34:02Ryan: know
- 34:02Ryan: and
- 34:03Ryan: outsource
- 34:03Ryan: that
- 34:03Ryan: part.
- 34:04Ryan: Or
- 34:04Ryan: like
- 34:05Ryan: you
- 34:05Ryan: said
- 34:05Ryan: earlier,
- 34:06Ryan: go
- 34:06Ryan: to
- 34:06Ryan: somewhere
- 34:07Ryan: where
- 34:07Ryan: maybe
- 34:08Ryan: yes,
- 34:08Ryan: you
- 34:08Ryan: want
- 34:09Ryan: private
- 34:09Ryan: credit
- 34:10Ryan: and.
- 34:11Ryan: There
- 34:11Ryan: are
- 34:11Ryan: some
- 34:12Ryan: great
- 34:12Ryan: managers
- 34:13Ryan: out
- 34:13Ryan: there.
- 34:13Ryan: Like
- 34:13Ryan: you
- 34:14Ryan: said,
- 34:14Ryan: you
- 34:14Ryan: got
- 34:14Ryan: the
- 34:14Ryan: right
- 34:15Ryan: clients,
- 34:15Ryan: but
- 34:15Ryan: then
- 34:16Ryan: it's
- 34:16Ryan: that
- 34:16Ryan: next
- 34:16Ryan: step
- 34:17Ryan: doing
- 34:17Ryan: the
- 34:17Ryan: due
- 34:17Ryan: diligence,
- 34:18Ryan: which
- 34:18Ryan: could
- 34:18Ryan: be
- 34:18Ryan: the
- 34:18Ryan: hardest
- 34:19Ryan: part.
- 34:20Peter McGratty: It
- 34:21Peter McGratty: is
- 34:21Peter McGratty: the
- 34:21Peter McGratty: hardest
- 34:21Peter McGratty: part.
- 34:24Peter McGratty: So
- 34:24Peter McGratty: I
- 34:24Peter McGratty: like
- 34:25Peter McGratty: to
- 34:25Peter McGratty: this
- 34:25Peter McGratty: is
- 34:25Peter McGratty: the
- 34:25Peter McGratty: interesting
- 34:26Peter McGratty: thing
- 34:26Peter McGratty: about
- 34:27Peter McGratty: the
- 34:27Peter McGratty: whole
- 34:28Peter McGratty: evolution
- 34:28Peter McGratty: into
- 34:29Peter McGratty: private.
- 34:29Peter McGratty: So
- 34:29Peter McGratty: there's,
- 34:30Peter McGratty: like
- 34:30Peter McGratty: I
- 34:30Peter McGratty: said,
- 34:30Peter McGratty: there's
- 34:30Peter McGratty: clearly
- 34:31Peter McGratty: an
- 34:31Peter McGratty: interest
- 34:32Peter McGratty: and
- 34:32Peter McGratty: there's
- 34:32Peter McGratty: clear
- 34:33Peter McGratty: on
- 34:33Peter McGratty: the
- 34:33Peter McGratty: part
- 34:33Peter McGratty: of
- 34:33Peter McGratty: advisors,
- 34:34Peter McGratty: clearly
- 34:34Peter McGratty: an
- 34:34Peter McGratty: interest
- 34:35Peter McGratty: or
- 34:35Peter McGratty: role
- 34:36Peter McGratty: for
- 34:36Peter McGratty: it
- 34:36Peter McGratty: in
- 34:36Peter McGratty: a
- 34:36Peter McGratty: client's
- 34:37Peter McGratty: portfolio.
- 34:38Peter McGratty: so
- 34:39Peter McGratty: why
- 34:39Peter McGratty: isn't
- 34:39Peter McGratty: it
- 34:39Peter McGratty: happening?
- 34:40Peter McGratty: It's
- 34:40Peter McGratty: because
- 34:41Peter McGratty: of
- 34:41Peter McGratty: this
- 34:41Peter McGratty: education
- 34:42Peter McGratty: hurdle
- 34:42Peter McGratty: and
- 34:42Peter McGratty: this
- 34:42Peter McGratty: due
- 34:43Peter McGratty: diligence
- 34:43Peter McGratty: and
- 34:43Peter McGratty: selection.
- 34:44Peter McGratty: So
- 34:44Peter McGratty: it's
- 34:44Peter McGratty: very
- 34:45Peter McGratty: interesting
- 34:45Peter McGratty: to
- 34:45Peter McGratty: watch
- 34:46Peter McGratty: the
- 34:46Peter McGratty: presentations
- 34:47Peter McGratty: of
- 34:47Peter McGratty: some
- 34:48Peter McGratty: of
- 34:48Peter McGratty: the
- 34:48Peter McGratty: platforms
- 34:49Peter McGratty: out
- 34:49Peter McGratty: there.
- 34:49Peter McGratty: They
- 34:49Peter McGratty: say.
- 34:50Peter McGratty: give
- 34:50Peter McGratty: you
- 34:51Peter McGratty: access,
- 34:51Peter McGratty: you
- 34:52Peter McGratty: can
- 34:52Peter McGratty: come
- 34:52Peter McGratty: on
- 34:52Peter McGratty: our
- 34:53Peter McGratty: platform
- 34:53Peter McGratty: and
- 34:54Peter McGratty: there's
- 34:54Peter McGratty: thousands
- 34:55Peter McGratty: and
- 34:55Peter McGratty: thousands
- 34:56Peter McGratty: of
- 34:56Peter McGratty: funds
- 34:56Peter McGratty: that
- 34:56Peter McGratty: you
- 34:56Peter McGratty: can
- 34:57Peter McGratty: choose
- 34:57Peter McGratty: from,
- 34:58Peter McGratty: and
- 34:58Peter McGratty: we've
- 34:58Peter McGratty: put
- 34:59Peter McGratty: together
- 34:59Peter McGratty: some
- 34:59Peter McGratty: technology.
- 35:00Peter McGratty: To
- 35:01Peter McGratty: you
- 35:01Peter McGratty: manage
- 35:02Peter McGratty: the
- 35:02Peter McGratty: administration
- 35:03Peter McGratty: of
- 35:03Peter McGratty: these
- 35:03Peter McGratty: funds
- 35:04Peter McGratty: over
- 35:04Peter McGratty: their
- 35:04Peter McGratty: lifetime
- 35:05Peter McGratty: so
- 35:05Peter McGratty: that
- 35:05Peter McGratty: you
- 35:06Peter McGratty: can
- 35:06Peter McGratty: do
- 35:06Peter McGratty: what
- 35:06Peter McGratty: you
- 35:06Peter McGratty: do
- 35:07Peter McGratty: best,
- 35:07Peter McGratty: which
- 35:07Peter McGratty: is
- 35:07Peter McGratty: pick
- 35:08Peter McGratty: funds.
- 35:09Peter McGratty: that's
- 35:09Peter McGratty: their
- 35:09Peter McGratty: presentation.
- 35:10Peter McGratty: And
- 35:10Peter McGratty: in
- 35:11Peter McGratty: my
- 35:11Peter McGratty: experience,
- 35:11Peter McGratty: when
- 35:11Peter McGratty: I
- 35:12Peter McGratty: go
- 35:12Peter McGratty: out
- 35:12Peter McGratty: and
- 35:12Peter McGratty: meet
- 35:12Peter McGratty: with
- 35:12Peter McGratty: these
- 35:14Peter McGratty: they're
- 35:14Peter McGratty: saying
- 35:14Peter McGratty: it's
- 35:15Peter McGratty: that
- 35:15Peter McGratty: choosing
- 35:16Peter McGratty: the
- 35:16Peter McGratty: fund
- 35:16Peter McGratty: is
- 35:17Peter McGratty: the
- 35:17Peter McGratty: part
- 35:17Peter McGratty: that
- 35:17Peter McGratty: they're
- 35:18Peter McGratty: most
- 35:18Peter McGratty: terrified
- 35:19Peter McGratty: of,
- 35:19Peter McGratty: which
- 35:20Peter McGratty: is
- 35:20Peter McGratty: why
- 35:20Peter McGratty: the
- 35:20Peter McGratty: adoption
- 35:21Peter McGratty: has
- 35:21Peter McGratty: not
- 35:21Peter McGratty: happened
- 35:22Peter McGratty: as
- 35:22Peter McGratty: quickly
- 35:23Peter McGratty: as
- 35:23Peter McGratty: everybody
- 35:24Peter McGratty: expected,
- 35:25Peter McGratty: because
- 35:26Peter McGratty: we
- 35:26Peter McGratty: have
- 35:26Peter McGratty: very
- 35:27Peter McGratty: strong.
- 35:28Peter McGratty: Last
- 35:28Peter McGratty: 15
- 35:28Peter McGratty: years,
- 35:29Peter McGratty: we've
- 35:29Peter McGratty: had
- 35:29Peter McGratty: very
- 35:29Peter McGratty: strong
- 35:30Peter McGratty: public
- 35:30Peter McGratty: market
- 35:31Peter McGratty: returns,
- 35:32Peter McGratty: which
- 35:32Peter McGratty: are
- 35:32Peter McGratty: liquid.
- 35:33Peter McGratty: And
- 35:34Peter McGratty: so
- 35:34Peter McGratty: why
- 35:34Peter McGratty: do
- 35:34Peter McGratty: I
- 35:34Peter McGratty: wanna
- 35:35Peter McGratty: risk
- 35:35Peter McGratty: my
- 35:36Peter McGratty: client
- 35:37Peter McGratty: putting
- 35:37Peter McGratty: them
- 35:37Peter McGratty: into
- 35:37Peter McGratty: something
- 35:37Peter McGratty: I
- 35:38Peter McGratty: don't
- 35:38Peter McGratty: fully
- 35:38Peter McGratty: understand?
- 35:39Peter McGratty: That's
- 35:39Peter McGratty: not
- 35:39Peter McGratty: liquid
- 35:40Peter McGratty: because
- 35:41Peter McGratty: if
- 35:41Peter McGratty: you
- 35:41Peter McGratty: do
- 35:41Peter McGratty: it,
- 35:41Peter McGratty: if
- 35:42Peter McGratty: you
- 35:42Peter McGratty: do
- 35:42Peter McGratty: the
- 35:42Peter McGratty: due
- 35:42Peter McGratty: diligence
- 35:43Peter McGratty: and
- 35:43Peter McGratty: selection
- 35:44Peter McGratty: and
- 35:44Peter McGratty: you
- 35:44Peter McGratty: choose
- 35:44Peter McGratty: wrong,
- 35:45Peter McGratty: the,
- 35:45Peter McGratty: I
- 35:45Peter McGratty: like
- 35:46Peter McGratty: to
- 35:46Peter McGratty: say
- 35:46Peter McGratty: the
- 35:46Peter McGratty: golden
- 35:46Peter McGratty: goose
- 35:47Peter McGratty: can
- 35:47Peter McGratty: become
- 35:47Peter McGratty: a
- 35:47Peter McGratty: rotten
- 35:48Peter McGratty: egg.
- 35:49Peter McGratty: I
- 35:49Peter McGratty: mean,
- 35:49Peter McGratty: you
- 35:49Peter McGratty: could
- 35:49Peter McGratty: blow
- 35:50Peter McGratty: up
- 35:50Peter McGratty: your
- 35:50Peter McGratty: client
- 35:51Peter McGratty: by
- 35:51Peter McGratty: doing
- 35:51Peter McGratty: something
- 35:52Peter McGratty: like
- 35:52Peter McGratty: that.
- 35:53Peter McGratty: And
- 35:53Peter McGratty: so
- 35:53Peter McGratty: a
- 35:53Peter McGratty: lot
- 35:53Peter McGratty: of
- 35:54Peter McGratty: folks
- 35:54Peter McGratty: have
- 35:54Peter McGratty: said,
- 35:54Peter McGratty: you
- 35:54Peter McGratty: know,
- 35:55Peter McGratty: I'm,
- 35:55Peter McGratty: I
- 35:55Peter McGratty: can't
- 35:56Peter McGratty: get
- 35:56Peter McGratty: my
- 35:56Peter McGratty: arms
- 35:56Peter McGratty: around
- 35:57Peter McGratty: this.
- 35:57Peter McGratty: I'm
- 35:57Peter McGratty: just
- 35:57Peter McGratty: gonna
- 35:57Peter McGratty: stick
- 35:58Peter McGratty: to
- 35:58Peter McGratty: my
- 35:58Peter McGratty: knitting.
- 35:59Peter McGratty: and
- 36:00Peter McGratty: so
- 36:00Peter McGratty: the
- 36:00Peter McGratty: two
- 36:00Peter McGratty: choices
- 36:01Peter McGratty: that
- 36:01Peter McGratty: you
- 36:01Peter McGratty: see.
- 36:02Peter McGratty: Firm's
- 36:02Peter McGratty: takeout.
- 36:03Peter McGratty: There
- 36:04Peter McGratty: are,
- 36:05Peter McGratty: I
- 36:05Peter McGratty: have
- 36:05Peter McGratty: the
- 36:06Peter McGratty: scale
- 36:06Peter McGratty: and
- 36:06Peter McGratty: size
- 36:07Peter McGratty: to
- 36:07Peter McGratty: invest
- 36:07Peter McGratty: in
- 36:07Peter McGratty: a
- 36:07Peter McGratty: team
- 36:08Peter McGratty: and
- 36:09Peter McGratty: the
- 36:09Peter McGratty: technology
- 36:10Peter McGratty: to
- 36:10Peter McGratty: actually
- 36:10Peter McGratty: do
- 36:10Peter McGratty: this
- 36:11Peter McGratty: correctly.
- 36:11Peter McGratty: So,
- 36:12Peter McGratty: for
- 36:12Peter McGratty: example,
- 36:12Peter McGratty: using
- 36:13Peter McGratty: us
- 36:14Peter McGratty: Matt
- 36:14Peter McGratty: and
- 36:15Peter McGratty: Ott,
- 36:15Peter McGratty: who
- 36:15Peter McGratty: runs
- 36:15Peter McGratty: the
- 36:16Peter McGratty: private
- 36:17Peter McGratty: market
- 36:17Peter McGratty: investing
- 36:18Peter McGratty: function,
- 36:18Peter McGratty: advertent,
- 36:19Peter McGratty: he's
- 36:19Peter McGratty: been
- 36:20Peter McGratty: doing
- 36:20Peter McGratty: this
- 36:20Peter McGratty: for
- 36:20Peter McGratty: 25
- 36:21Peter McGratty: years.
- 36:22Peter McGratty: He
- 36:22Peter McGratty: started
- 36:22Peter McGratty: doing
- 36:23Peter McGratty: it.
- 36:23Peter McGratty: For
- 36:24Peter McGratty: the
- 36:24Peter McGratty: wealthiest
- 36:24Peter McGratty: folks
- 36:25Peter McGratty: in
- 36:25Peter McGratty: the
- 36:25Peter McGratty: Fidelity
- 36:26Peter McGratty: network,
- 36:26Peter McGratty: including
- 36:28Peter McGratty: the
- 36:29Peter McGratty: friends
- 36:29Peter McGratty: and
- 36:29Peter McGratty: family
- 36:30Peter McGratty: of
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- 36:31Peter McGratty: Fidelity.
- 36:32Peter McGratty: So
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- 36:34Peter McGratty: He's
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- 36:36Peter McGratty: funds
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- 36:38Peter McGratty: structures
- 36:38Peter McGratty: have
- 36:38Peter McGratty: behaved
- 36:39Peter McGratty: over
- 36:39Peter McGratty: multiple
- 36:40Peter McGratty: market
- 36:40Peter McGratty: cycles
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- 36:41Peter McGratty: 25
- 36:42Peter McGratty: years.
- 36:43Peter McGratty: That
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- 36:44Peter McGratty: firm
- 36:45Peter McGratty: that's
- 36:45Peter McGratty: willing
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- 36:48Peter McGratty: It's
- 36:48Peter McGratty: really
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- 36:49Peter McGratty: institutional
- 36:49Peter McGratty: capability.
- 36:50Peter McGratty: And
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- 36:52Peter McGratty: lot
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- 36:52Peter McGratty: family
- 36:53Peter McGratty: offices
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- 36:55Peter McGratty: But
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- 36:55Peter McGratty: not
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- 36:56Peter McGratty: lot
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- 36:56Peter McGratty: smaller
- 36:57Peter McGratty: firms
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- 36:59Peter McGratty: And
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- 37:00Peter McGratty: firms
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- 37:08Peter McGratty: second
- 37:09Peter McGratty: option.
- 37:09Peter McGratty: And
- 37:10Peter McGratty: that
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- 37:11Peter McGratty: partnering
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- 37:14Peter McGratty: you
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- 37:14Peter McGratty: due
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- 37:15Peter McGratty: support
- 37:16Peter McGratty: associated
- 37:17Peter McGratty: with
- 37:17Peter McGratty: it.
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- 37:20Peter McGratty: parties
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- 37:21Peter McGratty: like
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- 37:23Peter McGratty: Some
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- 37:26Peter McGratty: our
- 37:27Peter McGratty: case
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- 37:28Peter McGratty: independent
- 37:29Peter McGratty: RIA.
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- 37:31Peter McGratty: diligence
- 37:32Peter McGratty: selection,
- 37:33Peter McGratty: our
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- 37:33Peter McGratty: our
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- 37:34Peter McGratty: invest
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- 37:35Peter McGratty: everything
- 37:35Peter McGratty: we
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- 37:36Peter McGratty: clients.
- 37:37Peter McGratty: We
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- 37:40Peter McGratty: We've
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- 37:41Peter McGratty: while
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- 37:42Peter McGratty: on
- 37:42Peter McGratty: wood
- 37:42Peter McGratty: good
- 37:43Peter McGratty: success
- 37:44Peter McGratty: and,
- 37:44Peter McGratty: we
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- 37:45Peter McGratty: a
- 37:45Peter McGratty: couple
- 37:45Peter McGratty: of
- 37:45Peter McGratty: years
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- 37:49Peter McGratty: RIAs
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- 37:50Peter McGratty: clients
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- 37:51Peter McGratty: by
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- 37:51Peter McGratty: with
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- 37:55Peter McGratty: in
- 37:55Peter McGratty: terms
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- 37:56Peter McGratty: team
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- 37:57Peter McGratty: the
- 37:57Peter McGratty: technology
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- 37:58Peter McGratty: structure.
- 38:00Peter McGratty: knowing
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- 38:05Peter McGratty: exact
- 38:05Peter McGratty: same
- 38:06Peter McGratty: reasons
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- 38:08Peter McGratty: they
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- 38:09Peter McGratty: clients
- 38:09Peter McGratty: side
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- 38:10Peter McGratty: ours.
- 38:11Peter McGratty: And
- 38:11Peter McGratty: the
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- 38:14Peter McGratty: more
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- 38:17Peter McGratty: funds.
- 38:17Peter McGratty: We
- 38:17Peter McGratty: can
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- 38:18Peter McGratty: better
- 38:18Peter McGratty: terms
- 38:18Peter McGratty: and
- 38:19Peter McGratty: conditions
- 38:19Peter McGratty: for
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- 38:20Peter McGratty: our
- 38:20Peter McGratty: clients
- 38:21Peter McGratty: and
- 38:21Peter McGratty: theirs
- 38:22Peter McGratty: when
- 38:22Peter McGratty: we
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- 38:23Peter McGratty: in
- 38:23Peter McGratty: those
- 38:23Peter McGratty: funds.
- 38:23Peter McGratty: Lower
- 38:24Peter McGratty: fees,
- 38:24Peter McGratty: lower
- 38:25Peter McGratty: minimums,
- 38:26Peter McGratty: better
- 38:27Peter McGratty: covenants.
- 38:27Peter McGratty: So
- 38:27Peter McGratty: if
- 38:28Peter McGratty: ever.
- 38:29Peter McGratty: God
- 38:30Peter McGratty: forbid
- 38:30Peter McGratty: ever
- 38:30Peter McGratty: anything,
- 38:31Peter McGratty: ever
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- 38:31Peter McGratty: wrong.
- 38:32Peter McGratty: We're
- 38:32Peter McGratty: on
- 38:32Peter McGratty: the
- 38:32Peter McGratty: advisory
- 38:33Peter McGratty: committee.
- 38:34Peter McGratty: We
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- 38:34Peter McGratty: say
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- 38:35Peter McGratty: how
- 38:35Peter McGratty: we
- 38:35Peter McGratty: just
- 38:35Peter McGratty: how
- 38:36Peter McGratty: we
- 38:36Peter McGratty: solve
- 38:36Peter McGratty: the
- 38:36Peter McGratty: problem.
- 38:39Ryan: Pete,
- 38:39Ryan: that's
- 38:39Ryan: fantastic.
- 38:41Ryan: Such
- 38:41Ryan: a
- 38:41Ryan: great
- 38:41Ryan: conversation.
- 38:42Ryan: I
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- 38:43Ryan: but
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- 38:44Ryan: a
- 38:44Ryan: lot,
- 38:45Ryan: brought
- 38:45Ryan: a
- 38:45Ryan: lot
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- 38:45Ryan: great
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- 38:46Ryan: just
- 38:47Ryan: from
- 38:47Ryan: the
- 38:47Ryan: evolution,
- 38:48Ryan: the
- 38:48Ryan: difference
- 38:49Ryan: between
- 38:49Ryan: consolidators,
- 38:51Ryan: the
- 38:51Ryan: independent
- 38:52Ryan: channel.
- 38:52Ryan: Of
- 38:52Ryan: the
- 38:53Ryan: obstacles
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- 38:54Ryan: they're
- 38:55Ryan: different
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- 38:55Ryan: then
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- 38:56Ryan: you
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- 38:57Ryan: as
- 38:58Ryan: a
- 38:58Ryan: financial
- 38:58Ryan: advisor
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- 38:59Ryan: your
- 38:59Ryan: competitors
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- 39:00Ryan: that
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- 39:01Ryan: up.
- 39:01Ryan: And
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- 39:02Ryan: potentially
- 39:02Ryan: private
- 39:03Ryan: markets
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- 39:04Ryan: what
- 39:04Ryan: that
- 39:05Ryan: presents
- 39:06Ryan: the
- 39:06Ryan: opportunity
- 39:07Ryan: and
- 39:07Ryan: challenges.
- 39:07Ryan: So
- 39:08Ryan: thank
- 39:08Ryan: you
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- 39:08Ryan: much.
- 39:09Ryan: Where
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- 39:11Ryan: get
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- 39:11Ryan: information
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- 39:12Ryan: vers?
- 39:16Peter McGratty: They
- 39:16Peter McGratty: can
- 39:16Peter McGratty: visit
- 39:16Peter McGratty: our
- 39:16Peter McGratty: website,
- 39:17Peter McGratty: Vernon's
- 39:17Peter McGratty: Capital
- 39:18Peter McGratty: Advisors
- 39:19Peter McGratty: or
- 39:20Peter McGratty: they
- 39:20Peter McGratty: can
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- 39:20Peter McGratty: they
- 39:20Peter McGratty: wanna
- 39:21Peter McGratty: learn
- 39:21Peter McGratty: more
- 39:21Peter McGratty: about
- 39:21Peter McGratty: how
- 39:22Peter McGratty: they
- 39:22Peter McGratty: can
- 39:22Peter McGratty: partner
- 39:22Peter McGratty: with
- 39:23Peter McGratty: us
- 39:23Peter McGratty: for
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- 39:23Peter McGratty: of
- 39:23Peter McGratty: these
- 39:23Peter McGratty: solutions,
- 39:24Peter McGratty: and
- 39:24Peter McGratty: while
- 39:25Peter McGratty: they
- 39:25Peter McGratty: remain
- 39:25Peter McGratty: independent,
- 39:26Peter McGratty: they
- 39:26Peter McGratty: can
- 39:26Peter McGratty: go
- 39:26Peter McGratty: to
- 39:27Peter McGratty: ria.plus
- 39:29Peter McGratty: which
- 39:29Peter McGratty: is
- 39:29Peter McGratty: our
- 39:29Peter McGratty: website's
- 39:30Peter McGratty: web
- 39:30Peter McGratty: address
- 39:31Peter McGratty: or
- 39:31Peter McGratty: they
- 39:31Peter McGratty: can
- 39:32Peter McGratty: clearly
- 39:32Peter McGratty: reach
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- 39:33Peter McGratty: me
- 39:33Peter McGratty: directly
- 39:34Peter McGratty: at
- 39:34Peter McGratty: p
- 39:34Peter McGratty: mcgrady@ria.plus.
- 39:38Ryan: Awesome.
- 39:38Peter McGratty: See.
- 39:39Ryan: thank
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- 39:42Ryan: a
- 39:42Ryan: great
- 39:43Ryan: conversation.
- 39:44Ryan: Thank
- 39:44Ryan: you.
- 39:45Ryan: And
- 39:45Ryan: thank
- 39:45Ryan: you
- 39:45Ryan: everyone
- 39:46Ryan: for
- 39:46Ryan: listening
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- 39:47Ryan: this
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- 39:48Ryan: zephyr's
- 39:48Ryan: Adjusted
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- 39:50Ryan: You
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- 39:50Ryan: all
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- 39:54Ryan: Spotify.
- 39:54Ryan: Please
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- 39:58Ryan: Thank
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- 39:59Ryan: great
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- 40:00Ryan: your
- 40:00Ryan: week.
- 40:02Peter McGratty: So
- 40:02Peter McGratty: much
- 40:02Peter McGratty: Ryan.