Invest Well, Be Well

Chip Roame: Five Trends Shaping The Future of Wealth

Episode Summary

A podcast for wiser investing and stronger living. Success in the markets and in life requires sound investments — in our portfolios and our personal wellness. A weekly show, Invest Well, Be Well explores the principles of long-term investing, behavioral finance and peak performance with top-performing investment professionals and cross-industry leaders. Hosted by investment executive Rusty Vanneman and seasoned journalist Robyn Murray, each episode offers practical strategies for building wealth and prioritizing well-being, so you can make better decisions, grow your resilience and elevate your life. In this episode, we spoke with Chip Roame, the Founder & Managing Partner of Tiburon Strategic Advisors and the Tiburon CEO Summits. He is a leading strategic advisor to 700+ Tiburon corporate member firms & other clients, primarily advising the CEOs, other senior executives, & boards of directors of wealth & investment management (& WealthTech) firms. Mr. Roame has also served as an industry experienced board member for numerous Tiburon member firms, and currently serves on nine boards. He assisted as a board member as firms signed dozens of substantial joint ventures, took out numerous revolvers & term loans, hired a variety of investment bankers, raised multiple rounds of venture capital, completed dozens of acquisitions, completed initial & secondary public offerings, and sold selves to both sponsors and strategic acquirers. Mr. Roame has negotiated CEO & board compensation plans, navigated multiple name founder & other CEO transitions, and worked through the sudden death of a CEO. He has monitored financial, cybersecurity, & public relations risks. He is a past and/or present board vice chairman and chairman of numerous strategy, human capital & compensation, and nominating & governance committees, and he is a qualified audit committee lead director. Mr. Roame spends his time between homes in New York, NY (Upper East Side); San Francisco, CA (Tiburon, CA); Sydney, Australia (Darling Point, NSW); and Europe.

Episode Notes

Tune in to hear:

In this episode, we discuss why The Great Wealth Transfer is often overstated and we add some nuance to that conversation, how wealth managers should rethink their strategies to better serve the next generation, what product innovations are true innovations and which are overhyped and why next gen investments like tokenization & sports betting may be here to stay, for better or for worse

Why does Chip believe that the traditional narrative around “The Great Wealth Transfer” is overstated and how there is an under appreciated horizontal wealth transfer happening right now. What does this mean for advisors in practice?
How should wealth managers rethink their client strategies to serve this next generation effectively?
How does Chip see independent advisors competing in a landscape that includes “The Big 4,” roboadvisors and other new developments?
How might the trends of RIA mergers, and the growing number of companies that run 401k plans, might affect everyday investors and financial advisors?
What product innovations excited Chip most and which does he think are overhyped?
Are “next gen investments,” such as sports betting, tokenization and meme coins, just fringe curiosities or signals of something broader in terms of investing?
What best practices, in terms of marketing, does Chip see that separates firms that grow versus ones that stall?
How far does Chip think we are from genuine, scaleable human-grade AI advice?
Across investment management, wealth tech and advice Chip sees venture capital, mergers & acquisitions and IPOs accelerating - in short, what does this mean for advisors choosing partners or platforms?
What is Chip’s headline for where the industry is heading in the next 3-5 years?
How does Chip maintain his energy, decision making clarity and balance?
What habits or practices does Chip believe consistently show up among the top performers in their field?
If Chip had to summarize his personal philosophy on performance, professional or personal, what would it be?

Quotes

“The generational wealth transfer is the headline, yes it’s 100 Trillion, but don’t forget about the liquidation, don’t forget about the spouse-to-spouse horizontal transfer and don’t forget about healthcare expenses at the end…that [money] will go to the insurance company, not to the kids.” - [03:48] Chip Roame

“On the horizon, we would suggest that…the consolidation of the consolidators…is coming to a station near you soon here. You’re going to wake up someday and Mercer will have bought Mariner, or Mariner will have bought Cap Trust…or something like that. You’re going to see the big firms start merging with each other at some point. Again, if you know history, that’s how the wire houses became the wire houses…so nothing all that unique about predicting the consolidation of the consolidators, but you haven’t really seen it get started yet, so I think that’s going to happen.” - Chip Roame

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