Billion Dollar Backstory

Stacy Havener
  • 4.8 (19)
  • INVESTING
  • UPDATED BIWEEKLY

Host Stacy Havener brings you the storytelling tips, sales strategies, behavioral secrets, and inspirational stories that help YOU turn your words into dollars. Learn from sales and marketing experts. Meet finance and investment leaders, founders and fund managers who have made it, and the ones on the rise. Because there are people behind the portfolios. Their stories matter. So does yours. Presented by: Ultimus Fund Solutions // www.ultimusfundsolutions.com GemCap // www.geminicapital.ie @stacyhavener // www.billiondollarbackstory.com

  1. 5D AGO

    130: How to Create a Business Plan That Actually Moves the Needle in 2026

    If you’re like most founders, “creating a yearly business plan” is one of those tasks you keep bumping to the bottom of your to-do list.  Maybe you tell yourself you’ll get to it when things slow down, but they never do.  And before you know it, you’re steamrolling into the new year without a plan, which leads to overthinking every single decision and drowning in busy work.  And somehow you end the year wondering how you were so busy… without feeling like you moved the needle at all.  Stacy doesn’t want that to be your reality at the end of 2026. That’s why today, she’s walking through the exact planning framework she uses with clients inside her membership, The Boutique Investment Collective. In this episode, she covers: How to set a 10-year “10-bagger” goal that feels exciting and directional (not something that makes you freeze or avoid the plan altogether)Her process for breaking big annual goals into quarterly focuses you can realistically carry while still running a business (and a life)Why it’s time to stop using AUM as your only scorecardHow to get clear on what’s in your control, what isn’t, and where you’re wasting energy trying to force outcomesThe mistake that’s making your sales harder than they should be (and how to streamline your sales process in 2026)  ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    28 min

  2. 12/22/2025

    129: From a $5M Cold Call to a $1B Comeback: Cole Wilcox of Longboard Asset Management on the Fundraising Grind and Founder Resilience

    Everyone loves a success story, but what we don’t talk about enough is what it costs to get there. And what it’s like before the money is wired or anyone cares.  Before all of that, there was a guy with a phone, a thesis, and a long list of people telling him no. That guy was Cole Wilcox. In this episode, Stacy Havener sits down with Cole, CEO & CIO of Longboard Asset Management, to talk about what it really takes to build an investment firm when you don’t start with pedigree, proximity, or institutional backing, just conviction and the willingness to keep going when quitting feels rational. In this episode, you’ll hear: How one cold call turned into Longboard’s first $5M  Why founder-led fundraising is unavoidable in the early years, no matter how strong your strategy is What it feels like to hear “call me at $100M”… and then hear it again at $1B How surviving multiple market crises permanently reshaped Cole’s relationship with risk The moment Longboard nearly shut down, and the structural pivot that kept the firm alive The real cost of broken partnerships (and why people issues end more firms than markets) What resilience actually looks like when walking away feels like the logical move Why staying power might be the most underrated edge a founder has More About Cole: Cole Wilcox, Chief Investment Officer at Longboard, has specialized in trend following investment strategies for over 20 years. As a co-author of award-winning research, he has been profiled in bestselling investment books, featured in major media outlets such as The Wall Street Journal, CNBC, and Bloomberg, and is a frequent guest on popular podcasts. Cole leads a highly accomplished team at Longboard, delivering innovative, low-correlation investment strategies that leverage trend following to capture market opportunities. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    1h 13m

  3. 12/17/2025

    128: From Harvard Endowment’s $4B Agriculture Team to Founding an Investment Boutique, Meet Mike Denklau of Dorset Agriculture

    “Be authentic.” “Own your story.” “Sharpen your edges.” We say these things at Havener Capital all the time (and Stacy says them a lot). But here’s the real question: do they actually move the needle? Mike Denklau, founder of Dorset Agriculture, is here to tell you they do. Today, he’s giving us a behind-the-scenes look at what happens when you stop code-switching… and start building from your real story. Before launching Dorset, Mike was part of Harvard’s endowment, helping manage a $4B+ agriculture and timber portfolio. Long before that, he was an Iowa farm kid. The journey from flannel in the fields to fund meetings in Boston is full of lessons for any founder navigating identity, fundraising, and first-time firm-building. Here’s what you’ll hear in this episode: How a kid from Iowa ended up managing billions at Harvard and how that full-circle moment sparked Dorset’s launch The overlooked opportunity in ag investing most firms ignore (and where meaningful, steady alpha may actually be hiding) How Mike landed his first investor without a pitch and without trading his comfy flannel in for a stiff suit to fit in  Why boutique founders need to stop hiding behind polish and let LPs see the messy middle (because that’s where conviction is built) What early-stage fundraising actually feels like and how to keep going when the uncertainty feels personal and loud This isn’t just a story about agriculture.  It’s a case study in what happens when you own your different, build what the market didn’t even know it needed, and let your backstory do what it does best: open doors that fitting in never could.  More about Mike Denklau:  Mike was born into a third-generation farming family and raised on a farm in Iowa. He has 14+ years of investment and finance experience and was involved with $8B+ of transactions. Prior to Dorset, Mike was an agriculture investor at Solum Partners and Harvard Management Company. Previously, Mike held investment and investment banking roles at Hudson Advisors, Barclays, and Lehman Brothers. Mike earned a MBA and JD from Northwestern University and a BBA in Finance and a BS in Political Science from the University of Iowa. Mike is also a member of the Illinois State Bar Association. Mike enjoys golf, skiing, and Hawkeye football. He currently lives in Boston with his wife, two children, and golden retriever. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    1h 1m

  4. 12/10/2025

    127: Ops That Actually Work: Real Stories from the Front Lines with Ultimus Fund Solutions

    In this industry, everyone talks about innovation. But innovation rarely starts in a conference room. It starts when a client hits a wall. When they’re overwhelmed, under pressure, or staring at an opportunity they can’t quite reach alone. That’s where Ultimus Fund Solutions steps in. This team doesn’t just throw tech at the problem. They roll up their sleeves, pick up the phone, and build real solutions, side by side with their clients. In this episode, you’ll hear what that actually looks like: A multi-billion-dollar RIA streamlining 400+ SMAs and mutual funds into a single ETF that’s now at $1.2B and climbingA $20B alternatives manager slashing launch time nearly in half with Ultimus GatewayA private credit strategy that didn’t exist until Amanda’s team built it, piece by pieceA middle office crew turning “random one-off asks” into a well-oiled machineA data team translating challenging requests into crystal-clear, decision-ready KPIsIf you’ve ever wondered what a true partnership feels like in financial services, this is your peek behind the curtain. More About Ultimus:Ultimus Fund Solutions delivers fund servicing, middle and back office support, and one-of-a-kind solutions across ETFs, mutual funds, private funds, and alternatives, with real people who actually listen, collaborate, and deliver. Learn more at billiondollarbackstory.com/ultimus

    1h 20m

  5. 12/03/2025

    126: Three Ways to Make Panels Less Awkward and More Effective | Story Snacks Series

    Panels are weird. Everyone’s trying to look smart without sounding rehearsed.  And somehow you’re supposed to introduce yourself and tell memorable stories in just a matter of minutes.  It’s not easy, and it’s not something you want to wing (especially if you want to make sure your participation is worth your while). That’s why, in this episode, Stacy’s breaking down her top dos and don’ts for showing up sharp and human on a panel. Whether you’re intro’ing yourself or riffing off someone else’s point, these moves will help you actually make your time on stage count. You’ll learn: What makes a 90-second intro landHow to make a panel feel less like a meeting that should’ve been an emailA better way to add to someone else’s point (without just repeating it and blending in)This is Story Snacks, a bite-sized, jam-packed series for fund managers who are ready to master strategic storytelling in under 20 minutes a week. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    8 min

  6. 11/26/2025

    125: Seb Stewart, Partner at $20B Pacific Asset Management & IMI Chair on Why Allocators Really Say Yes and How Boutiques Win

    Most people love to talk about the “boutique advantage,” but very few can show you what it actually feels like from the allocator’s side of the table. Seb Stewart can. Seb is Partner and Head of US Institutional BD at Pacific Asset Management (~$20B AUM) and Chair of IMI, the global think tank for specialist firms.  In this episode, Seb and Stacy sit down at NASDAQ Studios to discuss what allocators actually value, why boutiques win when they stop acting like large platforms, and how human behavior (not products or performance) raise real funds.  In this episode, you’ll hear about: Why fundraising is really about selling people and behavior, not productsThe underestimated trust dynamic between PMs and fundraisersThe behavioral cues allocators read before they ever open your deckWhy boutiques win on access, alignment, independence, and specializationKey insights from IMI’s landmark research on what truly sets boutiques apartWhy distribution and story remain the biggest choke points for boutiques More About Seb:Prior to joining Pacific as Head of US Institutional Sales, Seb spent 11 years at emerging market specialist, Somerset Capital Management LLP where he had been a Partner, Head of Client Services and latterly Deputy Head of Marketing. Seb helped grow the firm from $1.5bn to $10bn in AUM, working with institutional and wholesale clients across the world, with a particular focus on pension funds, foundations, endowments, family offices and investment consultants in the US. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    1h 3m

  7. 11/19/2025

    124: The First Step to Bringing Your Fund to the U.S. (It’s Not What You Think) | Story Snack Series

    If your firm’s outside the U.S. and you’re thinking about bringing your fund here, you’ve probably already started googling and found yourself a million new to-dos.  But before you start checking off all of the boxes (structure, fees, compliance, product, etc.), make sure you’re not skipping the vital first step most fund managers miss. In this episode, Stacy breaks down the underrated first step that sets successful firms apart when they expand into (or out of) the U.S. and why the smartest managers start with who, not how. You’ll learn:  • The mindset shift that saves months of frustration • How co-creating with investors builds traction early • Who to call when you’re entering or exiting the U.S. market • A smarter way to test your idea before spending a dime This is Story Snacks, a bite-sized, jam-packed series for fund managers who are ready to master strategic storytelling in under 20 minutes a week. ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    9 min

  8. 11/12/2025

    123: Devon Drew, From Sales Exec at a Trillion Dollar Asset Manager to Founder of Tech-Enabled Sales Platform AssetLink on Why Fund Distribution Needs Disruption

    You know those Wall Street movies where young, hungry salespeople make 500 dials a day? That was real life for Devon Drew. He built his career in distribution at some of the biggest asset managers in the world—including Vanguard—before walking away from it all to launch AssetLink, a tech platform designed to disrupt how fund distribution gets done. Because Devon realized something: the model wasn’t just archaic, it was broken. Now, he’s putting powerful tools in the hands of fund managers who’ve been overlooked for too long and giving wholesalers a way to work smarter, not harder. In this episode, Stacy and Devon discuss:  What it’s really like to go from Wall Street to founder life Why the old-school “spray and pray” sales model needs to go How AssetLink is making sales teams more efficient (and more human) What Silicon Valley taught Devon about innovation (and what Wall Street can learn from it) His experience with Google’s accelerator program and what it means to build “tomorrow, today”More About Devon: Devon Drew is the Founder & CEO of AssetLink, an AI-powered platform modernizing fund distribution. With 18+ years in asset management and over $30B raised, his career spans major players like: Merrill Lynch & J.P. Morgan Chase (Financial Advisor) Fred Alger & American Century (VP, Wealth Management Sales) Vanguard ($10T AUM, Sr. Exec in Broker/Dealer Sales) In 2021, Devon founded DFD Partners, the early version of what would become AssetLink, a tool built to help under-resourced managers compete and win in distribution. Drew has been recognized for his innovative work, receiving several accolades, including: • Top 25 Founders of 2025 by Founders Square • 2025 AWD Pioneer Award • Top 10 to Watch in 2024 by wealthmanagement.com • Finalist for the Wealthies Award in 2023, 2024 & 2025 ---Running a fund is hard enough.Ops shouldn’t be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus - - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

    54 min
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Trailer

4.8
out of 5
19 Ratings

About

Host Stacy Havener brings you the storytelling tips, sales strategies, behavioral secrets, and inspirational stories that help YOU turn your words into dollars. Learn from sales and marketing experts. Meet finance and investment leaders, founders and fund managers who have made it, and the ones on the rise. Because there are people behind the portfolios. Their stories matter. So does yours. Presented by: Ultimus Fund Solutions // www.ultimusfundsolutions.com GemCap // www.geminicapital.ie @stacyhavener // www.billiondollarbackstory.com

Information

  • Creator
    Stacy Havener
  • Years Active
    2023 - 2025
  • Episodes
    131
  • Rating
    Clean
  • Copyright
    © 2025 Stacy Havener LLC | All rights reserved.
  • Show Website
    Billion Dollar Backstory

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