Episode #265: Rusty Vanneman, Orion, “To Manage Portfolio Risk, I Think You Have To Be More Creative Moving Forward”
Guest: Rusty Vanneman serves as Chief Investment Officer for Orion Advisor Solutions. In his role, he is responsible for leading CLS’s Portfolio Management Team and overseeing all investment operations at CLS, including investment philosophy, process, positioning, and performance. In 2018, Mr. Vanneman took on the role of President of CLS, in addition to his position as CIO.
Date Recorded: 10/7/2020
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Summary: In episode 265, we welcome our guest, Rusty Vanneman, Chief Investment Officer for Orion Advisor Solutions. In today’s episode, we’re talking asset management programs and markets.
We talk to Rusty about the state of the industry for turnkey asset management programs, which effectively allow advisors to break out on their own with built-in back office support and a suite of investment options. He gets into direct indexing, and why these customized solutions carry unique advantages for investors in areas like ESG implementation and tax-loss harvesting. Rusty shares his thoughts on markets and some reasons to maintain a bullish attitude.
As we start to wind down, we dig into balance, global diversification, bonds, and getting creative to manage portfolio risk moving forward.
All this and more in episode 265 with Orion’s Rusty Vanneman.
Links from the Episode:
- 0:40 – Intro
- 1:29 – Welcome to our guest, Rusty Vanneman
- 1:39 – Orion’s The Weighing Machine Podcast
- 1:42 – Rob Arnott episode of Orion’s Weighing Machine Podcast
- 4:10 – Startup scene in Omaha
- 5:32 – Overview of the Orion company
- 7:16 – Overview of the TAMP (Turnkey Asset Management Platform) space
- 10:12 – Orion’s approach to direct indexing
- 13:16 – Why direct indexing is perfect for ESG implementation
- 15:14 – Sector industry strategies and direct indexing
- 16:58 – Maximizing tax alpha in these portfolios
- 19:48 – Rusty’s view on the markets today
- 23:11 – US Crash Confidence Survey
- 24:22 – Franklin Templeton Survey of Investors
- 25:13 – What balance means to them and their investors
- 27:22 – Defining real assets
- 29:03 – The state of bonds
- 31:43 – The importance of story and narrative when he talks to advisors/investors
- 36:14 – Advice to get people to stay the course
- 39:14 – Incorporating new strategies into current investments
- 42:54 – Is value overstated
- 43:11 – ‘I Can’t Believe I’m Saying This, But I’m Passing on Seth Klarman’
- 45:59 – What has Rusty excited: behavioral finance
- 48:48 – Most memorable investment
- 51:47 – Connect with Rusty; orion.com, orionportfoliosolutions.com, clsinvest.com, Orion’s The Weighing Machine Podcast, Meb Appearance on The Weighing Machine Podcast
Transcript of Episode 265: