How the Advisory Business Is Evolving With Fintech Solutions

AssetMark Chief Investment Officer Christian Chan joins Jill Malandrino on Nasdaq #TradeTalks to discuss how the advisory business is evolving with fintech solutions and how investors should be positioned in this market.

Thank you welcome to nasdaq straight talks i’m jill malandrino global market reporter at nasdaq joining us at the market site studio in times square we have christian chan he’s the chief investment officer of asset mark wealth technology and asset management services provider it’s great to have you with us christian welcome to trade talks thank you for having me

And you said a very interesting intersection of the advisory business because we’re seeing how much it is evolving as it relates to fintech solutions tell us what you’re seeing uh we’re definitely seeing a huge adoption of fintech strategies and solutions by the advisor base what we’re seeing is that advisors are using it to reach certainly younger investors and

Clients but also older clients as well because one of the things we’ve seen and i’m sure you’ve seen this as well is that during the pandemic people like to be remote they like to communicate in a remote way so technology solutions enable advisors to reach investors and their clients much easier and actually much cheaper so an advisor can service a client that’s

Based really anywhere in the in the world and you know and not have it cost a ton of money like it typically does no it’s good for a carbon footprint too isn’t it absolutely um tell me about asset mark managed solutions acid mark managed solutions and this is the era that i manage is the investment management strategies within asset mark um we do everything from

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Standard 60 40 portfolios to different types of hedging strategies to diversifying strategies so strategies that are really useful in this market environment let’s talk about the market environment in broader trends we have third quarter earnings on the horizon we have midterm elections and we get into the holiday season which hopefully we’ll see some more green in

The market as we typically do what are your thoughts around that what what the fed is doing inflation rising interest rates it really is a confluence of different volatile creating events yes absolutely and when we try to zoom out and filter out all of those different types of things the thing that we focus in and zero in on is really fed policy and you could all you

Could almost argue that most environments are macro oriented environments this one in particular because of the spike that we’ve seen in inflation and how sticky it’s become to me it’s all about what the fed is doing and setting market expectations for tightening liquidity how should investors be positioned in this type of environment we’re pretty cautious right

Now so we have earnings coming up we actually think earnings will be okay we’re seeing a lot of resilience with the consumer and we’ll start that off with banks i think it’s on friday we’ll get we’ll get the big bank starting to report we think we’ll see maybe some cracks but still strong consumer sentiment strong consumer spending because of how strong the labor

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Market is and then the other thing is some of these seasonal factors will start to actually be in our favor so you know the last few weeks have been really the seasonally worst time for equity markets you see it almost every single year and we’re starting to enter the period where seasonally things tend to get a bit better so you know we are cautiously positioned

Because of what the fed is doing but there are really good things happening within the economy well i mean certainly look at the valuation reset that we’ve seen across multiple asset classes and and you know being in the advisory business that longer term mindset when you think about you know investing is different than trading but if you have that long-term

Investor mentality this could set up for some pretty incredible deals when you think about it through that long-term lens yeah 100 historically bear markets are painful to go through but if you’re disciplined in investing they offer us the opportunity for outsized return opportunities if you can hold your positions for a three five ten year periods and even the

Bond market really painful reset of prices right a lot of declines in prices and bonds but now we have yields three four or 500 basis points and that makes for a much sounder environment in which to construct portfolios all right christian we appreciate the insight thanks for joining us on trade talks and thanks for joining me i’m joe malandrino global markets reporter at nasdaq

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Transcribed from video
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