Independent financial advisors have never faced more competition. Large wirehouses and national advisory firms continue to invest millions of dollars into sophisticated financial advisor technology, personalized client portals, and digital wealth management experiences. Meanwhile, today's investors have grown accustomed to real-time information in every aspect of their lives. They can monitor a package delivery to the minute, track their bank balance instantly, and receive personalized...

Machine learning has become one of the most talked-about — and least understood — forces in modern portfolio management. While some investors dismiss it as the latest fad dressed up in technical language, others treat it as some all knowing black box that will inevitably outperform any human’s judgment.. Both views miss what's actually happening. In this writing we attempt to cut through both narratives and define the terms precisely. We’ll explain how these systems are actually built and...

You’ve probably been told a lot lately about the simplicity and safety of index investing. For years, it felt like we were riding an...