David Rosenthal: belief

Transcript context

…I always have these opposing views in my mind, but we have a long history with the IRA community. We love working with them. We were one of the first firms in the late-1990s to work with that community. It's a fast-growing segment of wealth management. We generally like the wonky stuff and are less good at the end client experience and the rest of the package. We're not interested in estate planning, in particular, we're interested in investing. I think the role that we play is the right role to serve RAs and advisors as our primary clients in that part of the business and not the end-user. It's one of those perennial questions and decisions. When you have a powerful product, it's a luxury to wonder, what could we do with this? I think ultimately, the more you get distracted, the more you lose focus, the worst product you create. This is the perfect transition to talking about the other thing you've built over the past couple of years on your own and within OSAM. Your Keith Rabois episode, fun Acquired history here. So good. At the end of it, I think you've stopped doing this as much, but you were asking your kindness questions, but you also ask people for book recommendations. Have you stopped doing that, or are you still doing that? I have stopped doing it mostly because I don't read books anymore for the most part, which is a strange departure given I used to read 100 a year. But because I've lost interest in books, for the most part—nonfiction books specifically—I actually don't ask the question anymore.…

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