Portfolio Perspective: Managing Risk & Seizing Opportunity

Asset Compliant Solutions
  • 5.0 (1)
  • Investing

Welcome to Portfolio Perspective: Managing Risk & Seizing Opportunity, a podcast focused on the asset-based lending industry. Join Andrew Pace, Chief Client Experience Officer at Asset Compliant Solutions, as he interviews experts, shares insights, and explores strategies for managing risk, optimizing portfolio performance, and seizing opportunities in an ever-evolving financial landscape. From regulatory changes to technological advances, each episode provides actionable takeaways and deep dives into industry trends. Whether you’re a lender, servicer, or recovery expert, this podcast offers valuable perspectives to enhance your approach and improve outcomes.

  1. Aug 4

    Warrior, Not Survivor: Rethinking Resilience in Equipment Finance

    In this episode of Portfolio Perspective: Managing Risk & Seizing Opportunity, Andrew Pace sits down with Mike Toglia, founder and publisher of Equipment Finance Advisor and ABL Advisor, to explore how three decades inside the industry, from credit analyst to national sales leader to capital markets executive, now shape how he covers it from the outside. Mike walks through the arc of his career, starting as a formally trained credit analyst at Fidelity Bank, moving through GE Capital, and eventually running a $600 million equipment finance unit as National Sales Manager at Textron Financial before shifting into capital markets. That foundation, he explains, is what let him build Equipment Finance Advisor into one of the industry's most-read independent publications, now marking its 15th year, with ACS among its earliest supporters. The conversation digs into what he calls the "two-minute business": the discipline of delivering a daily e-newsletter that readers can process before their day starts, and why that format has stayed largely unchanged even as attention spans and reader sophistication have shifted. Mike also speaks candidly about the trust required to balance readers and advertisers, and why turning down stories that would drive clicks but damage credibility is part of protecting that trust. The episode closes with Mike's read on where the industry is headed: rising AI adoption among service providers, growing collaboration between equipment finance and working capital solutions, and a younger, more digitally fluent generation entering the field. Andrew and Mike also settle a long-running debate on whether credit or sales should drive a lending culture. Key Topics Discussed: Mike's career path across credit, sales, and capital marketsThe founding and growth of Equipment Finance Advisor and ABL AdvisorPublishing strategy and the "two-minute business" modelHow reader habits and industry demographics have evolvedTrust and credibility between publishers, readers, and advertisersAI adoption trends across equipment financeThe rise of private credit and private equity in the spaceCollaboration between equipment finance and working capital solutionsThe role of third-party service providers in portfolio managementCredit culture versus sales culture in lending organizationsLong-term outlook and resilience across market cyclesNotable Takeaways: On why his credit background made him better at sales: Toglia credits his formal credit training as the foundation for everything that came after. "Being a credit person made me a hundred times better of a business development person. It just did, because I could sit across the desk from a CFO, and I could still do it today, because you don't forget what you learned."On AI adoption across the industry: Toglia sees a clear divide forming between companies investing in AI now and those waiting it out. "The companies who aren't looking at AI today and aren't considering it or investing in it today are going to be left behind."On rejecting the word "resilient": Toglia pushes back on the industry's go-to description of itself, offering a sharper one. "I don't like to use the word resilient because everyone uses the term resilient when they talk about this industry. It's not a survivor. It's a warrior, this industry."On the credit-versus-sales culture debate: Asked to pick a side, Toglia lands firmly in the middle. "If you don't have a strong credit culture and you don't have the business development side of it respecting that culture and trusting that culture, then you're going to fail. And if you have purely a sales side that's running the business and not paying attention to what the credit teams and risk management people are telling you, you just can't get there."Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  2. Jul 28

    Scaling with Discipline: Culture, Operations, and the High-Tech High-Touch Model in Equipment Finance

    In this episode of Portfolio Perspective: Managing Risk & Seizing Opportunity, Andrew Pace sits down with Daryn Lecy, CLFP, MBA, Chief Operating Officer and Senior Vice President at Oakmont Capital Services, to explore what it actually takes to scale an equipment finance company the right way. Oakmont's growth story is not typical. In 2018, Daryn and his team joined Oakmont's Minnesota office as an 11-person operation. Today, the company is approaching 100 employees across two offices. That kind of growth doesn't happen by accident, and Daryn is direct about what drove it: culture first, relationships second, and operational discipline throughout. The conversation goes deep on what Oakmont's high-tech, high-touch model looks like at the transaction level, how the company balances credit discipline with sales momentum, and how they approach fraud risk without letting caution kill speed. Daryn also shares where Oakmont is in its AI journey, including a credit-side pilot that is already shaving meaningful time off the underwriting process while keeping human decision-making exactly where it belongs. For equipment finance professionals thinking about scale, culture, portfolio health, or where independent lessors are headed over the next few years, this conversation has a lot of practical ground to cover. Key Topics Discussed: Growing from 11 to nearly 100 employees and what the early culture-building decisions actually looked likeHow Oakmont operationalizes low employee attrition and why listening matters more than talkingBalancing credit discipline, operational efficiency, and sales momentum without sacrificing any one of themAsset class concentration strategy across compact construction, landscaping, and last-mile deliveryGeographic diversification across all 50 states and how they monitor for early warning signals in the portfolioThe high-tech, high-touch model in practice: remote online notary, flexible application channels, and keeping a human available when it mattersFraud risk management and maintaining speed without blind spotsAI implementation in the credit workflow: how Oakmont piloted it, validated it, and what they learnedReferral growth driven by operational execution, including competitors directing business their wayWhere independent lessors are positioned over the next three to five years and what keeps the opportunity aliveNotable Takeaways: "Culture is most important to us. We can teach you this business. It's not rocket science. We just want to make sure you fit in with the environment that we have." "Speed is how we win deals." "We want to make sure we're not just using it because we think it's easier, that it actually is going to make life easier in the long run." "We ran them concurrently, the manual process plus the AI process, and are we finding we're getting the same things? Is there any hallucinations that are happening, stuff that we might be missing?" "There's always gold in the files that you have in front of you to ease your acquisition costs." "Independents will be able to move at a pace that, as long as they continue to keep up with technology, there's going to remain opportunities there for a long time." Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  3. Jul 21

    Trust, Credit, and the Middle Market: What It Really Takes to Get Deals Done

    In this episode of Portfolio Perspective: Managing Risk & Seizing Opportunity, Andrew Pace sits down with Bruce Brandon, Vice President of Indirect Business Development and Training at TCS Equipment Finance, to explore how trust, credit discipline, and vendor relationships shape deal flow in the middle market broker channel. Most brokers spend their careers in small ticket, app-only territory, where a credit score and a Paydex number get a deal approved in 24 hours. Then, once or twice a year, a $500,000 or $1 million opportunity lands on their desk, and the playbook that worked for everything else stops working. Bruce Brandon has built his role at TCS around that exact moment. Bruce is a 25-year veteran of the equipment finance industry, with leadership experience at Onset Financial, Pacific Western Bank, Marquette Equipment Finance, and Bank Financial in Chicago, and a track record of generating well over $100 million in new business over his career. At TCS, he runs national indirect business development through brokers, vendors, and manufacturers in the $300,000 to $30 million middle market, while also training the firm's new salespeople. The conversation covers a lot of ground: why vetting a broker and vetting a transaction are two completely different processes, what separates audited financials from reviewed and compiled statements and why that distinction changes how fast a deal can move, and what TCS learned from the trucking downturn about how quickly asset values can turn against a lender. Bruce also gets into the vendor side of the business, where relationships often live with a single salesperson rather than a company, and why that makes vendor-sourced deals harder to predict than they look. Bruce is direct about where speed comes from and where it doesn't. Deals backed by audited financials move quickly. Deals backed only by tax returns don't, and he'd rather tell a broker that upfront than promise a turnaround he can't deliver. Key Topics Discussed: TCS's focus on the $300,000 to $30 million middle market and why that range is underserved by both brokers and large institutional lendersThe difference between vetting a broker and vetting a transaction, and why they require separate processesWhy full underwriting on larger deals looks nothing like a 24-hour app-only approvalThe spectrum of financial statements: audited, reviewed, and compiled, and what each costs and signals to an underwriterLessons TCS took from the trucking downturn and how asset value risk shows up in a defaultWhy specialty and mission-critical equipment carries more intrinsic value to a lender than commodity assets like standard tractors and trailersHow vendor relationships function differently than broker relationships, and why they're often tied to one person rather than the companyWhat happens when a vendor pressures a broker for financing speed that credit realities can't supportHow TCS's approach to broker communication has evolved toward more upfront honesty about turnaround timesWhat separates experienced brokers from newer ones when it comes to preparing a submissionAdvice for brokers who want to move consistently into middle market deal flowWhy face-to-face relationship building at industry events still outperforms transactional swag and giveawaysNotable Takeaways: "There's a difference between vetting the broker and vetting the transaction. The transaction vetting is easy. What are their revenues? Are they profitable? And do they debt service? Those are kind of three initial criteria right out of the gate." "If you have to go through and spread compiled information, you kind of have to come to your own conclusions. Whereas an audit, you can trust the numbers. It's right there. There's not much you have to do at all because it's right there." "So here you are two years into a five-year lease, repossessing these assets that have completely depleted in value. And that's how companies go out of business. And once you do one or two of those transactions that get into that space, if you survive it, you'll never do it again." "The specialty trucks have more intrinsic value to us as a lender, because we know that the company, if things go bad, if they're going to try to salvage the business, they're going to want to make their payments on those things to keep the business running." Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  4. Jun 23

    Leading Through Change: Association Strategy, Industry Signals, and What's Next for Equipment Finance

    In this episode of ACS Portfolio Perspective: Managing Risk & Seizing Opportunity, Andrew Pace sits down with Chad Sluss, CEO of the National Equipment Finance Association (NEFA), to get an honest read on where the industry stands and where one of its most important associations is headed next. Chad came into the NEFA role in September 2020, stepping into a job where the core value proposition had just been dismantled by the pandemic. What followed was a multi-year rebuild, not just restoring what existed before, but rethinking what a modern equipment finance association should actually do for its members. Under his leadership, NEFA's membership has grown from roughly 265 companies to over 400. In this conversation, Chad walks through the career that shaped how he leads, spanning food service, state bar associations, home building, and an international legal network operating across 52 countries. That kind of cross-industry experience doesn't produce a specialist. It produces someone who knows how to read a room, identify what's missing, and build something that lasts. The conversation covers what Chad is hearing from NEFA members right now about deal flow, credit conditions, and equipment demand. It also gets into the association's education build-out, the global connections NEFA is forming with counterpart organizations in Australia, Canada, and Europe, and how Chad is thinking about the next strategic planning cycle. If you want an honest read on where the equipment finance industry is and where it's headed, this is a good place to start. Key Topics Discussed: Chad's nonlinear career path and the transferable leadership skills it producedJoining NEFA in September 2020 and the immediate pivot to virtual programmingHow NEFA restructured its in-person conference experience coming out of the pandemicProgramming across three distinct member segments: funding sources, broker lessors, and service providersWhat NEFA members are saying right now about deal flow, credit conditions, and equipment demandTransportation as a challenged asset class and the cautious optimism emerging around itThe economist at NEFA's spring conference, the AI investment tailwind, and demographic concerns on the horizonNEFA's education portfolio: 70-plus hours of online content, monthly knowledge exchange roundtables, and a four-part AI and technology seriesThe CEO roundtable with counterpart associations in Australia, New Zealand, the UK, Canada, and EuropeThe MOU with an Australian broker association and the cross-border business it's already generatingHow NEFA is thinking about the next generation of equipment finance professionalsThe 2027-2029 strategic planning cycle and the member town halls that will shape it Notable Takeaways: "This industry is on the tip of either a really booming economy or a downturn." "I think the demand is out there. It's just people have to work harder to get the business owners to move forward with deals." "Business should sort of come first. All the other stuff is just noise." "Six, seven years ago, I didn't know anything about this industry. I was blown away how large it is, and the opportunities." "If we know what people want, we can make it happen." "We need to continue to look ahead and try and anticipate what our members are going to be facing from challenges and then also opportunities." Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  5. Jun 9

    Built for the Cycle: Credit Discipline, Growth Strategy, and Scaling Through Uncertainty

    In this episode of Portfolio Perspective: Managing Risk & Seizing Opportunity, Andrew Pace sits down with Erik Anderson, Chief Credit Officer at Northland Capital, to explore how disciplined credit strategy, strong relationships, and continuous evolution have fueled long-term growth. Erik shares his unconventional path into equipment finance, starting as a credit analyst during the 2008 financial crisis and growing into a leadership role overseeing a $1B+ portfolio. He breaks down how Northland scaled its business through syndication, allowing its sales team to compete more effectively while maintaining underwriting discipline. The conversation dives into navigating multiple credit cycles, building a resilient portfolio through diversification, and why volatility often creates opportunity for well-positioned lenders. Erik also offers insight into building a strong credit culture rooted in accountability, ownership, and continuous improvement. From process and portfolio strategy to leadership philosophy, this episode delivers practical insights for anyone looking to better understand risk, growth, and long-term success in equipment finance. Key Topics Discussed: Erik’s path from actuarial science to equipment financeLessons from entering the industry during the 2008 financial crisisBuilding and scaling Northland’s syndication platformHow syndication unlocked growth and competitive positioningManaging portfolio risk across multiple economic cyclesThe importance of diversification across industries and asset classesNavigating today’s macro environment, including rates and tariffsCredit discipline vs. growth pressureBuilding a high-performing credit team and cultureExtreme ownership and learning from lossesThe role of relationships in credit and syndication successNotable Takeaways: “You make a decision today, and you won’t know if you’re right for two years.” “Volatility creates opportunity if you’re in the right position.” “Bad loans are made in good times. That’s just what it is.” “Diversification is the number one.” “We got to say yes more often—and that changed everything.” “You live to play another day.” “Not one of us is bigger than the game itself.” “If we’re not lending it, then we’re not aggressive enough.” Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  6. May 26

    A Turning Point in Equipment Finance: Where Banks Pull Back, Independents Step In

    In this episode of ACS Portfolio Perspective, Andrew Pace sits down with Jeffry Elliott, CEO of Elevex Capital, to explore the structural shifts reshaping the equipment finance industry. After decades inside large bank environments, Jeffry shares why regional banks are increasingly focused on deposit-driven lending and how that shift is forcing them to pull back from transactional finance, including equipment finance. As banks consolidate, manage regulatory pressures, and prioritize core relationships, new gaps are emerging across the market. The conversation explores how independent platforms are stepping in to fill that void, particularly in underserved middle market and specialty segments. Jeffry also shares the thesis behind Elevex Capital, including its focus on technology, capital markets, and asset management, and how those pillars position the company for the next phase of industry evolution. At its core, this episode is about a turning point—where the structure of the market is changing, and new opportunities are being created for those prepared to move into them. Key Topics Discussed: Deposit-driven lending and its impact on banksWhy regional banks are pulling back from equipment financeThe effect of bank consolidation and regulatory pressureThe long-term impact of Silicon Valley Bank and Signature Bank failuresWhere lending gaps are emerging across the marketThe role of independents in filling underserved segmentsThe legacy and exit of GE CapitalMiddle market and specialty lending opportunitiesThe importance of asset-based structuring and residual riskElevex Capital’s three pillars: technology, capital markets, asset managementAI and automation in equipment finance operationsThe growing shortage of experienced asset managersRebuilding training and development in the industry Notable Takeaways: “They’re less focused on profitability… and more focused on core banking relationships that bring deposits.” “They don’t view equipment finance as deposit gathering… so they’re starting to trim it.”  “They’re pulling back in areas that need lending the most… that creates opportunity.”  “Nobody’s training them… there’s just a lack of focus.”  “We want to be a true lessor… not just a credit player.”  Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  7. May 14

    Speed, Scale, and Culture: Driving Performance in Equipment Finance

    In this episode of ACS Portfolio Perspective, Andrew Pace sits down with Erik Eddington, COO of CH Brown Equipment Finance, to discuss how operational discipline, culture, and speed can drive meaningful performance gains. Coming from a background in commercial and agricultural banking, Erik shares what it was like stepping into equipment finance with a fresh perspective and how that outsider lens helped identify inefficiencies and opportunities for improvement. The conversation explores how CH Brown doubled its conversion rates without expanding its credit box, why speed is critical in a broker-driven environment, and how technology and process improvements are being used to eliminate bottlenecks. Erik also shares how the company has navigated volatility in transportation while staying committed to the asset class that built its business. At the core of the discussion is a simple principle: strong performance comes from aligned teams, clear communication, and a culture that supports how people work together. Key Topics Discussed: Transitioning from banking into equipment financeIdentifying inefficiencies through an outsider perspectiveDoubling conversion rates from ~30% to over 60%Why speed is critical in broker-driven lendingEliminating bottlenecks without expanding credit riskImplementing a new LOS and AI-driven processesSame-day funding and operational realitiesManaging a transportation-heavy portfolio through volatilityRisk mitigation strategies and underwriting adjustmentsBuilding a culture-first organizationBreaking down silos across teamsUsing CliftonStrengths to improve collaborationLeadership philosophy: listening to the team Notable Takeaways: “We’re doing the work for these deals… let’s make sure they actually get on the books.” “The broker is our true customer.” “If you don’t like coming to work, you’re not going to stay.” Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

  8. Apr 28

    One Year In: What We’ve Learned from 20+ Conversations in Equipment Finance

    In this special one-year anniversary episode of ACS Portfolio Perspective, Andrew Pace steps out of the host seat and into the guest role to reflect on what the podcast has uncovered over its first year. Drawing from more than 20 conversations with lenders, lessors, and industry leaders, Andrew shares the common challenges that surfaced across the industry, including portfolio stress, misalignment, and delayed decision-making. He also highlights the themes that consistently emerged, such as the tension between risk and growth, the importance of early intervention, and the gap between policy and execution. The episode explores how the podcast has shaped Andrew’s approach to listening, leadership, and client conversations, while reinforcing ACS’s role as a connector across the industry. Looking ahead, Andrew outlines the topics, guest perspectives, and opportunities that will define the next phase of the podcast. At its core, this episode is a reflection on what happens when leaders are willing to ask better questions, share openly, and learn in real time. Key Topics Discussed: Why ACS launched a podcast and what gap it aimed to fillCommon challenges across lenders and lessorsThe shift from isolated problems to shared industry experiencesLessons learned about listening and leading conversationsWhy candid, unpolished discussions create better insightsRecurring themes: risk vs. growth, early intervention, execution gapsHow the podcast has influenced ACS’s role in the industryThe importance of curiosity over positioning in client conversationsFeedback from listeners and real-world impact of episodesVision for year two, including new topics and guest typesBuilding a more connected and collaborative industry Notable Takeaways: “Everyone assumed they were dealing with these challenges alone.” “This podcast became a way to surface those shared experiences.”  “I wanted to learn out loud.”  “Better questions matter. We don’t need all the answers.”  Subscribe to Portfolio Perspective: Managing Risk & Seizing Opportunity for more industry insights and field-tested strategies. For more information, visit Asset Compliant Solutions.

See All (30)

About

Welcome to Portfolio Perspective: Managing Risk & Seizing Opportunity, a podcast focused on the asset-based lending industry. Join Andrew Pace, Chief Client Experience Officer at Asset Compliant Solutions, as he interviews experts, shares insights, and explores strategies for managing risk, optimizing portfolio performance, and seizing opportunities in an ever-evolving financial landscape. From regulatory changes to technological advances, each episode provides actionable takeaways and deep dives into industry trends. Whether you’re a lender, servicer, or recovery expert, this podcast offers valuable perspectives to enhance your approach and improve outcomes.

Information