Cole Wilcox, Chief Investment Officer at Longboard Asset Management, discusses how to identify investments that may provide true diversification versus those that simply appear to. He also explains the difference between trend strategies and momentum approaches, and how stock-level trend following may help reduce correlation, improve tax efficiency, and enhance the overall client experience without relying on fully unconstrained futures strategies.
What You’ll Learn
• How to identify alternative investments that may provide genuine diversification.
• The difference between trend strategies and momentum approaches.
• How applying systematic trend techniques at the stock level may enhance portfolio diversification.
• The role of disciplined risk management and when allocations may shift toward short-term Treasury bills.
• How tax efficiency and loss-harvesting can vary between investment structures.
• Practical portfolio considerations for using multiple, uncorrelated alternative strategies effectively.
Advisors who are seeking ways to maintain diversification while improving the client experience with alternative strategies will find this discussion especially useful.
Chapters:
02:42 – Inside liquid alternatives and systematic trend strategies
06:12 – Market cycles, investor behavior, and risk awareness
09:20 – Trend vs. momentum: understanding the distinction
14:01 – The evolution of trend following and Longboard’s approach
16:51 – Why stock-level trend following may offer unique advantages
21:18 – How systematic risk management can guide shifts toward T-bills
25:21 – Building portfolios with diversification and discipline
27:29 – Tax efficiency and potential long-term investment implications
30:19 – How market dispersion and breadth can impact performance
33:11 – Managing whipsaw risk and maintaining process discipline
35:11 – Practical allocation insights and constructing an alt sleeve
39:04 – Avoiding redundancy in alternative strategies
42:07 – Balancing diversification goals with client experience
Guest: Cole Wilcox, CIO, Longboard Asset Management
Hosts: Talley Leger, Paisley Nardini, CFA, CAIA, and Jim Worden, CFA, CMT, CAIA
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For advisor use only.
Few people have seen the financial advice industry evolve from as many vantage points as Andy Kalbaugh. Before becoming President of The Wealth Consulting Group, Andy spent over 25 years in the C-suite, including leading American General Securities and Mutual Service Corporation, and serving as Managing Director and Divisional President at LPL Financial—helping steer it to become the largest independent broker-dealer in the U.S.
In this episode, Andy joins Jimmy Lee to discuss the future of advice, what drives firm enterprise value, and how advisors can build businesses that last beyond them. From the role of technology and AI to the human side of client relationships, Andy shares hard-won insights on leadership, capital, and succession planning from decades at the top.
What you’ll learn:
• How technology is reshaping, not replacing, financial advice
• The four pillars of enterprise value every advisor should track
• Why building a repeatable business is key to freedom and valuation
• Lessons from leadership at AIG and LPL that apply to any firm owner
• The growing role of private equity and capital solutions in advisor succession
• Why the human connection will remain at the center of wealth management
Chapters:
04:04 – The advisor landscape: how tech and human advice will coexist
07:32 – The rise of $100B+ firms and the next wave of consolidation
10:36 – Enterprise value: recurring revenue, organic growth, M&A, and talent
15:30 – Building a business that runs without you: systems, process, brand
19:14 – Working on the business vs. in the business
24:26 – Attracting affluent clients through expertise and brand focus
30:04 – Lessons from legends: Hank Greenberg, Mark Casady, and Dan Arnold
34:42 – Industry risks, AI disruption, and why empathy still wins
44:03 – Succession planning and the rise of private equity capital
Guest:
Andy Kalbaugh, President, The Wealth Consulting Group
Host: Jimmy Lee, CEO, The Wealth Consulting Group
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LinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/
X (Twitter): @WealthCG
YouTube: @thewealthconsultinggroup
Making Life Better at The Wealth Consulting Group
If you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.
Subscribe at bit.ly/wealthcg
From the dot-com era to today’s AI boom, Baron Technology Fund portfolio manager Ashim Mehra has seen innovation cycles up close. In this episode, he joins Jim Worden and Talley Leger to break down the layers of AI (infrastructure, models, and applications), where the real opportunities lie, and why even trillion-dollar narratives need perspective. The conversation explores the speed of disruption, global competition, capital flows, and how investors can separate durable trends from froth.
What you’ll learn:
Guest: Ashim Mehra, Portfolio Manager, Barron Technology Fund
Hosts: Jim Worden (CIO, WCG) & Talley Leger (Chief Market Strategist, WCG)
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LinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/
X (Twitter): @WealthCG
YouTube: @thewealthconsultinggroup
02:01 – AI’s rapid evolution and comparison to the internet era
03:29 – The AI stack: infrastructure, models, and applications
08:13 – Bubble vs. mania: why AI is real but returns may not be linear
11:09 – Nvidia, OpenAI, and the concentration of demand
15:34 – Beyond productivity: medicine, robotics, chemistry, and new compounds
29:54 – AGI timelines and why enterprises chase the prize
36:26 – Evaluating people and pattern recognition in investing
37:35 – U.S.–China AI race, geopolitics, and cloud gatekeepers
43:41 – Risks to capex: power, efficiency, and ROI concerns
48:55 – Applied AI examples: Axon police workflows and Hinge Health PT
57:18 – Small/mid-cap opportunities and concentration challenges
60:05 – Stock picking today: more data, more volatility
62:13 – Will AI replace investors or become an efficiency tool?
Making Life Better at The Wealth Consulting Group
If you are ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice and your life better.
Subscribe at bit.ly/wealthcg
Health is wealth, and as advisors the impact we make extends beyond portfolios. In this two-part episode, Jimmy Lee first sits down with his good friend Dr. Matthew Schwartz, radiation oncologist and UNLV faculty member, to explore how proteomics is changing cancer treatment. Then Dr. Thomas Dayspring, one of the world’s foremost educators on lipids and mentor to Dr. Peter Attia, explains why cardiovascular disease remains the number one preventable cause of death, plus the simple blood tests and treatments that can save lives.
Disclaimer: This episode is for informational purposes only and does not constitute medical advice. Please consult your physician for personal medical guidance.
What you’ll learn:
Chapters
00:00 – Welcome and episode purpose
02:18 – Dr. Matthew Schwartz on proteomics vs. genomics
07:06 – How Ignite testing works and why it matters
11:07 – Effectiveness, adoption, and access for patients
16:31 – Awareness, advocacy, and making cancer a chronic disease
21:23 – Dr. Thomas Dayspring on cardiovascular disease prevention
28:36 – ApoB and why particle number drives risk
40:12 – Lipoprotein(a), genetics, and early testing
52:08 – Treatment options: lifestyle, statins, PCSK9s
58:40 – Lowering ApoB, plaque, and longevity goals
01:19:21 – Target numbers and why very low is safe
01:26:23 – New therapies for Lp(a) and what’s ahead
01:33:20 – Diet, imaging, and practical takeaways
01:37:56 – Education gap and being your own advocate
01:42:39 – Closing thoughts and advisor role
Guests:
Dr. Matthew Schwartz, MD, Radiation Oncologist, Comprehensive Cancer Centers of Nevada
Dr. Thomas Dayspring, MD, FACP, FNLA, Educator on Lipids, Early Medical
Host: Jimmy Lee, CEO, The Wealth Consulting Group
Follow us
LinkedIn: https://www.linkedin.com/company/the-wealth-consulting-group/
X (Twitter): @WealthCG
YouTube: @thewealthconsultinggroup
Making Life Better at The Wealth Consulting Group
If you are ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice and your life better.
Subscribe at bit.ly/wealthcg
Here's the title and description.
Title:
Jonathan Krane, CEO of KraneShares on China as an Asset Class, AI’s “ChatGPT Moment,” and What Advisors Are Missing
Description:
Are your clients under-allocated to the world’s second-largest economy? KraneShares CEO Jonathan Krane argues China is behaving like a distinct asset class—and many portfolios aren’t built for it.
What you’ll learn:
Chapters
Guest: Jonathan Krane, CEO of KraneShares
Hosts: Talley Leger (Chief Market Strategist, WCG) & Jim Worden (CIO, WCG)
Follow us
Making Life Better at The Wealth Consulting Group
If you’re ready to see how WCG helps advisors grow, subscribe for insights, updates, and resources built to make your practice—and your life—better.
Subscribe at bit.ly/wealthcg
Fred and Talley go all in on what’s happening in the markets. As a former President of The Chartered Market Technician Association, Fred combines a macro background to technical analysis. The Fred Report provides research to his clients that includes financial advisors. He currently likes some asset classes that present both attractive charts and value. Don’t miss Fred and Talley discuss current markets and how technicals are blinking green in some areas that investors are not paying enough attention to.
Meb, Paisley, Jim and Talley riff about surfing, 351 ETF conversions, stock buy backs, shareholder yield, why Mark Cuban is wrong, and much more! Meb is one of the best personalities in finance with a combination of knowledge and great communication skills. Listen to our gang and Meb discuss why certain investment strategies are ripping today and some are not. He likes being diversified right now- FYI! He's also hosting a surf event at Future Proof for those who are attending. Don't miss Meb on The Bull of Wall Street!
Carley is a regular in the financial media being interviewed everywhere for her expertise in trading, options, commodities, and the markets. She talks to Jim about how managing risk and her concerns about how deleveraging can affect certain products out there.
It’s an important interview to get all investors to pay attention to risk. Carley points out how all of the money that has been created and invested into the economy has created inflation in many assets. She also points out the trading strategies that many investors are using may be exposed to more risk than they think. She also talks about Crypto brokerages and how some of them operate.
Zack is a venture debt investment fund manager and podcast host. He is also an author with a very unique perspective being a part of some of the biggest bond trades of all time. A.R.I. provides growth credit to the best VC-backed technology companies in North America. He was Director of U.S. Public Fixed Income at Sun Life Financial. Prior to Sun Life, Zack was a corporate bond and credit default swap trader at Deutsche Bank. During the GFC, he was an investment banker where he successfully underwrote and managed a portfolio of leveraged media, tech, and telecom loans at Scotia Bank.
Zack talks to Jim and Talley about how venture debt works. The strategy includes lending against revenue vs. hard assets for typical loans. In many cases it's the intellectual property that is used as the collateral for these loans. Learn about why private lending has taken off and more specifically concerning the fast moving tech sector.
Jan van Eck is the CEO of VanEck, an asset manager that been known since 1955 for identifying investment trends. VanEck was one of the first U.S. asset managers to offer investors access to international markets and recognized early the transformative potential of gold investing, emerging markets, ETFs and digital assets. Today, the firm’s capabilities range from core investment opportunities to more specialized exposures to enhance portfolio diversification.
Jan brings a unique approach and perspective to investing. His quote, “Don’t settle for the conventional. Dare to be different.”
Chuck talks to Jim and Jimmy about all of his amazing guests he’s had a chance to interview. He believes that the Fed will not cut rates before the end of this year and gives us his reason why. We explore the do it your self investor and if they have changed based on demographics. He has written books about how to pick an advisor and provides great insight about investor’s with his many years of experience being a journalist first leveraging radio and now podcasts.
Listen to what makes Ed constructive on equities and also what risks he sees that could disrupt this bull market. As the Chief U.S. Strategist for one of the industry’s most respected research firms, Ed shares with Jim and Paisley what their research shows that is forming his current views. It’s a great listen on how the economy may shift and the markets may react.
One of the most intellectual discussions with a guest about all things money. Jim, Talley, and Jimmy have a ball talking about the markets, the “Volmageddon” trade that netted $244m for Thiel Macro, Ai, Bitcoin, and more with Mike. It’s a must listen to hear from one of the industries most celebrated investors among the hedge fund followers. We also discuss the passive vs. active debate but in a way that considers very different aspects that are not spoken about frequently. Mike’s new book coming out this fall/winter will provide a provocative view around this issue.
Jim talks with Eli about the energy transformation happening right now in the United States and abroad. It’s an informational conversation about one of the most important foundational issues in business today. Questions such as how do we power the AI revolution and what technologies will be the critical drivers of the evolution in energy are discussed. The rapid change in how energy and power are sourced, produced, transported, and consumed is creating once-in-a generation investments across sectors including industrials, energy, materials, and technology.
Jim, Talley and Paisley have an insightful conversation with one of the investment and hedge fund industries legends. Cliff shares his journey as the managing founder of AQR and the evolution of quantitative analysis. As AQR’s investment strategies have taken off targeting high net worth investors Cliff talks about the innovation that has helped their company take the lead in working with investment advisors. He also discusses his views around the economy and markets. Don’t miss this episode with one of the best in the business.
The WCG investment team riff about what's concerning investors and advisors right now. We discuss tariffs- are they really inflationary? What about the Fed- what will they do with cuts or no cuts? Recession- yes, no or something else? What sectors might perform better than others in this environment? What about the Mag 7- is it still a good strategy? What about bonds? Join us in this discussion about what we think is important for advisors to be considering right now.
Anh and Jimmy talk about how she began her career as an attorney then transitioned into financial planning at Goldman Sachs before starting her entrepreneurial journey founding Sagemint Wealth. What you will learn from this conversation is how Anh acquired an advisory business and integrated the clients into her practice. We also discuss being a female and minority executive in finance, her parents immigration into the United States and how that foundation has translated into her family’s mantra “Live Well, Do Good” and conclude by learning about Anh’s passion for integrating health and longevity into her life and business.
Listen to Jimmy interview Marc about what every independent financial advisor wants to know- what is LPL Financial’s vision and plan for the future of independent advice. They discuss the Commonwealth acquisition, different affiliation opportunities with LPL, private equity, what the industry could look like in 10 years, and how advisors need
to position themselves for the unprecedented transition of founder advisors to the next generation.
The hits go on with Jason Hsu discussing international markets, US debt downgrade, tariffs and much more with Paisley and Jim. Jason provides a great perspective on why the U.S. cannot pay off our debt and why our companies get labor overseas. You don’t want to miss this very informative macro conversation!
Paisley and Jim talk with John about everything Alts. John explains that CAIA’s goal is to make alternatives not alternative and more a standard. The total portfolio approach (TPA) started with researching and incorporating hedge funds many years ago and now includes all flavors of private investments. As alts have exploded advisors can benefit by listening to John about optimizing the portfolio in today’s environment. He explains how institutional investors are evolving their approach using the TPA.