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Introducing our guest
For fans of the show Billions, Devin has been called “the real-life Wendy Rhoades”.  He is the founder of Lifestyle Integrity, and has been the #1 ranked executive life coach in New York City according to Yelp and Google.  He coaches executives in business, finance, politics, media, and education through both personal and professional development.  His goal is to help clients, many of whom have achieved material success, to be able to attain fulfillment in their work and lives. In the most simplistic terms possible, Devin helps his clients make life altering decisions. As he stated perfectly in this episode: “We run amok in the world without figuring ourselves out.”  
Devin came into coaching after going through his own personal struggles and a life altering transition. After years of living what he called “a double life” where his work and personal lives had become completely detached from one another, he fell into a deep depression. Only after he stepped into a phase of self-discovery to better understand himself was he able to find fulfillment and help others do the same.
Who is this episode for?
As we always say, the podcast is about understanding how high-performers have made important decisions in their lives. For this reason, it made sense to interview a coach who helps people do that. If you feel “stuck” or unfulfilled in your career path or life more broadly, this conversation is for you. Why is this important? As another guest of the podcast, Tom Morgan, recently wrote: “One critical role of a financial advisor is to help their clients feel secure enough to identify and pursue what brings them alive.” I have faced my own questions, and perhaps as a result developed a practice working with busy professionals who often grapple with many of the topics we discuss in the episode. 
Our Conversation
First, Devin answers an important question I did not know the answer to: “what is a life coach?”. We laughed about how this term can mean pretty much anything and can often be viewed with skepticism. Devin explains how he views coaching through “four pillars”: career, health, spirituality, and relationships. While many clients approach him focused on one area, he coaches his clients to understand that the "whole system" must move in lockstep versus viewing these areas of life as separate things that don’t interact. Devin discusses his own experiences as well as the specific approaches he uses with his coaching clients to help them live a life of fulfillment.
Devin explains how high performers are often struggling internally, and they tend to create environments where they don’t slow down or relax to feel uncomfortable with whatever it may be. However, Devin believes when we can sit in the “uncomfortable” long enough the answers to hard questions can become clear. We discuss useful frameworks for decision-making, helpful resources, books, as well as common questions and problems he works with his clients on.  While you may not take a year to live in a cabin in the mountains of North Carolina, so many people can relate to Devin's journey and work in their own way. Thanks 

Interest rates have reached levels not seen since in well over a decade. How should investors navigate this new world of higher rates? Are they here to stay? To help unpack what this seismic shift means we sat down with Jim Jackson. Jim is currently the co-chief investment and officer and senior portfolio manager of Victory Income Investors, which was formerly known as USAA Investments . We had Jim on because he is among the most qualified people in the world to discuss this with. We were able to get his thoughts on so many important conversations we are having with clients. Before entering the investment business, Jim served in the United States Marine Corps. He holds a degree in economics from the United States Naval Academy, an MBA from the University of Michigan, and is also a CFA® charter holder.
In this conversation Jim and first I discuss his career path and how he was the first person in his family to attend college. He tells the story of how his interest in a career in finance started on an aircraft carrier, and the role curiosity and luck have played along the way. He also gives advice to those seeking to make a change in their career that aligns with their personal interests.
While we do go "into the weeds" of fixed income investing at times, this conversation is not just for people interested in the complexities of bond math or monetary policy. First, Jim explains what “fixed income” actually means and the role it should play in your portfolio. From there we take a broad historical view of interest rates and discuss how the last 40 years of declining interest rates have influenced people’s decision-making, and how the magnitude of the Federal Reserve’s interest rate hikes caught people off guard. We also discuss the current narratives playing out in markets today and look ahead to potential risks and opportunities.
Admittedly this is a longer episode, but there was so much I wanted to ask him. We hit on everything from the difference between a bond and a stock, to the risks of holding too much cash in a portfolio today. We also discuss how to think about growing concerns over US Government debt levels, why negative news can make it hard to stay focused on the long-term, and the one question anyone with a portfolio should be asking themselves today.
Jim also shares his team’s investment philosophy and explains why they spend very little time trying to make predictions about the economy or the direction of interest rates. Instead, their focus is on continual improvement of their process and focusing only on the things they can control. Interestingly this even extends to how Jim spends his personal time, where he avoids watching financial news on television all together. Our entire team learned a lot from this conversation, and I think you will too. It was an honor to have Jim as a guest. Thanks again to him for sitting down with us, and we hope you enjoy this episode.

For episode #13, we sat down with the CEO of OnePoint, Patrick McMahon. Pat details how he grew up in Peckville Pennsylvania where he was raised by his mother, who was born in Italy and migrated to the United States, and his father an Irish "serial entrepreneur". Pat started working at his dad's driving range as a young boy, and after graduating from Penn State he returned home to Northeastern Pennsylvania to work for the family businesses. We discuss how after buying one of the businesses from his dad, he grew it from $500,000 in revenue to $26 million from a combination of organic growth and acquisitions over the years.
Maybe most importantly, Pat talks about some of his mistakes and personal struggles along the way including his battles with depression while balancing family life and running a business. Since his first experience with depression after going through a divorce in the late 1970's, Pat focused on looking internally at trying to better understand himself and the things that were driving his struggles.
He details how during depressions he seems to be looking through “grey colored glasses” where everything looks dark and negative and at times during manic periods he is looking through “rose colored glasses” where everything looks bright and positive. He talks about the process of learning to understand this, and how it allowed him to have a more balanced outlook and make better decisions.
Almost 20 years later, Pat had grown the business, got remarried, had a young and growing family, even his golf game was in a great place. From the outside looking in, he seemed to have everything. However, he felt a deep sense of dissatisfaction and lack of meaning that led to another bout with depression in the 1990's. It was at this point that Pat turned his focus away from himself to try and help others more. Around this time, Pat bought out his business partner and began to give 10% of the company's net profits to charity. He also decided to share 10% of net profits with the company's employees as well. At that point two things happened:
1. employees became more loyal because they enjoyed being part of something bigger that was helping those less fortunate
2. Pat found a deeper satisfaction in his work and life in general
As the company grew, they decided to write a Corporate Culture document focused on 5 stakeholders: shareholders, employees, customers, vendors, and the community. He believes this was a key factor in the company's success over the years and helped him continue to try and grow it for more than monetary reasons. Pat's message may sound counterintuitive, but it makes a lot of sense: the adversity he has faced in life, specifically his bouts with depression, have helped him balance his priorities. While terrible to experience, he believes they forced him to look internally and better understand himself. He believes this made him both more content in his career and a better person. In his view, adversity forces us to "sharpen our game". He also shares ways to cope with anxiety and depression that have worked for him.
Finally, Pat talks about how the first part of life is about building the “container”- or focusing on things outside that help define who we are. The second half of life is about looking inward and focusing on “the contents”. He defines success on his terms and discusses how he recently sold one of his companies and turned his focus on his next chapter. He wants to continue getting out of his comfort zone, improving himself, and focusing on others. Thanks to Pat for being authentic and open about his personal story, it was a great discussion. We hope you enjoy it!

For episode twelve, our guest was Thomas Morgan, who currently serves as a Director for Sapient Capital and is based in New York City. He has worked in a number of roles throughout his career and over the last few years has written a weekly newsletter that became appointment reading for many of the most thoughtful investors on Wall Street. He describes his current role as being a “curiosity sherpa for billionaires” and has been called “the most interesting man in finance” (a nickname that he hates). He recently started a Substack to publish his work called What’s Important? that focuses on exactly that- what he calls “relevance realization”, or how knowing what matters is what leads to the acquisition of wisdom over time.


 Tom’s work is focused on a wide range of topics, from broad societal transitions to understanding the importance of managing our own attention. I asked Tom to join the podcast to discuss potential transitions currently underway related to the the economy, financial markets, and the world in general. We appear to be at a “tipping point” where several transitions are potentially happening very quicky and at the same time. Tom has written extensively about Artificial Intelligence, a potential shift in the economy away from the Silicon Valley focused information economy back to the real economy, and how to navigate major transitions in today’s fast paced world.



 While we did discuss these topics, our conversation went in a much different (and perhaps more meaningful) direction. Instead, the focus was on how individuals can make huge transitions in life to find more meaning and contentment. Tom talks about his own career and how after 15 years filled with traditional “mile markers” of success on Wall Street, he realized he had lost all interest in what he was doing and began to suffer severe depression as a result. We talked about this experience, and how it led to him spending the last few years gaining a deeper understanding of why career transitions/pivots can be so challenging, and why so many people are suffering from the lack of meaning that Tom himself struggled with. 



 We discussed how in a society focused on comfort, stability, and predictability we need to learn to be more flexible and able to adapt to fast paced change. Tom also unpacks his belief that “following your bliss”, noticing things that truly interest you and pursing them, is the key not only to finding a more meaningful and rewarding career, but in solving the world’s biggest problems. He also argues that science reinforces this concept. He explains why “following your bliss” has gone from an important framework for making decisions to a deeply misunderstood cliché. This was a wide-ranging and fascinating conversation that covers a lot of ground, but at its core it asks important questions: What actually interests you? Do we have the ability to choose? If we find something we are truly interested in, what should we do with that information? 



 It would be a huge understatement to say this is not your traditional financial planning conversation. Obviously, things like your personal balance sheet, retirement planning, and investments are important, but we need to remember they are only important if they are used as tools that allow us to live a meaningful life. Thanks again to Tom for taking the time to join us, and we hope you enjoy this episode. 


 

For episode 11, I was joined by my colleague, Managing Partner at Alliance Wealth Advisors, Chris Ross, and Stephanie Decker, who serves as the Associate Vice President of Social and Economic Impact at Lackawanna College.  Together, we recap the first annual financial impact summit held in partnership with the college in the fall of 2022.
Rather than have listeners sit through the entire program, we took sound bites from our speakers that night, including Maggie Mineo Zayac (owner of the Daisy Collective), John Basalyga (President of JBAS Realty and Eastern Roofing Systems), Dr. Jill Murray (President of Lackawanna College), and  Scott Lynett (estate planning attorney an business owner) among others. Each speaker shared incredible insights and personal stories that benefited everyone who attended.  Stephanie, Chris, and I then expand on some of these topics for those who couldn’t attend. Our hope is that our conversation will also add some fresh perspective to those who were in the room that evening.
With so many great speakers, the event was packed with interesting conversations and useful information. Frankly, it wasn’t easy what to narrow down what to include in this podcast, but we did the best we could. Some of the topics we explore include: The value of schools and families teaching young people “the foundations” of personal finance more effectively, the importance of knowing how our experiences early on in life shapes our financial decision-making. We also explored how people in the later stages of life have their own set of challenges, especially those involved in family-owned businesses. Finally, we talked about how financial education has not been a focus for school systems or universities. While it's important to improve financial education, it was clear from listening to our panel that talking about money at the kitchen table is just as important as in the classroom.
As we look ahead to growing this event in 2023, we would love to hear from business and education leaders in our region to make it better. If you have ideas to improve the event, or if you have interest in participating we would love to hear from you. Thank you for listening, and we hope you enjoy this episode.

For episode 10, we sat down with entrepreneur John Basalyga. John is the President of Eastern Roofing Systems, and JBAS Realty, a commercial real estate development and management company. During this conversation, John tells his personal story, how his career has evolved over the years, and why he is so passionate about improving Scranton and the entire region through his work. We also look ahead and discuss some of the projects he and his team are working on. 
 John explains the principles he operates by and talks about the experiences that have shaped him into who he is today.  He also takes us inside the room for some of the deals that helped catapult his career. While he may own a roofing company, he believes strongly in the importance of putting yourself and others in a position where there is “no ceiling” to the potential upside if you work hard. Maybe most importantly, he explains how he believes that having confidence in yourself must be the foundation from which everything else follows. John tells a couple stories about how believing in himself in critical moments helped him takes leaps in his career no one else thought was possible. We also discuss why he avoids negative people at all costs, and why it is essential not to let others’ opinions distract you from listening to your own instincts.  
Finally, John talks about why at the end of the day, we need to be willing to act with purpose. While you can plan and do as much analysis as you want before moving forward, without the courage to act you cannot accomplish anything meaningful. Whether it is financial planning, starting a business, or any other undertaking in life, the most important step is the first one- getting started. Thanks so much to John for sitting down with us, and we hope you enjoy this episode.