FireSide is a podcast series from FS Investments featuring episodes and research on the markets and economy. This information is educational in nature and does not constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. FS Investments is not adopting, making a recommendation for or endorsing any investment strategy or particular security. All views, opinions and positions expressed herein are that of the author ...
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FS Thrive x John Stemmerman: How to regulate and reflect
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With over 20 years of experience supporting top athletes, military personal and business leaders, John Stemmerman (Senior Vice President of Performance at Exos) knows that high-performance is much more than just running a faster mile. John sits down with Ginevra Czech, FS Investments Director of Client Value Add Programs, to discuss practical strat…
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Bet on change: What’s next in policy and markets?
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Voters overwhelming ushered in a new Republican majority. But what can investors expect when it comes to key issues like regulation and inflationary policy? One thing is for certain: You can bet on change. Join Head of Public Policy Jason Cole and Chief U.S. Economist Lara Rhame as they dive into what the Trump win means for markets, policy and the…
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Head to Head x Jackie Larson: My superpower is kindness
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In a new episode of Head to Head, Jackie Larson (Senior Vice President of the Westside Group at RBC Wealth Management) joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss how to find your client’s “money language,” the way she works to empower a new generation of women in financial services and how she built an impressive c…
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The Takeaway with Troy Gayeski: Middle market PE secondaries
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Chief Market Strategist Troy A. Gayeski, CFA, shares the key takeaways from his new strategy note, Going for growth: Middle market private equity secondaries. Troy joins Content Strategist Harrison Beck to examine how middle market PE secondaries offer the potential for growth at a reasonable price. He addresses the potential advantages of the midd…
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Head to Head: Joe Brienza, Clarity Advisors, UBS Private Wealth Management
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From public service to private wealth—Joe Brienza shares his journey to becoming a Forbes and Barron’s top-ranked financial advisor. In a new episode of Head to Head, Joe Brienza (Managing Director, Clarity Advisors, UBS Private Wealth Management) joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss the adrenaline rush of a …
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Q4 Research roundup: Landings are bumpy
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Join Chief U.S. Economist Lara Rhame, Executive Director of Investment Research Andrew Korz and Research Associate Alan Flannigan as they examine their outlooks for equities, credit, real estate and essential macroeconomic trends in Q4. They discuss their view on interest rates, inflation, and the labor market—and how these key macro factors could …
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We are 34 days away from election day. Join FS Investments’ Chief U.S. Economist Lara Rhame and Head of Public Policy Jason Cole as they dive into the critical issues surrounding the election. While the top of the ticket gets most of the focus, control of Congress also hangs in the balance in November. They discuss polling data, the battleground st…
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FS Thrive x Regina Hess: That’s just for rich people
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Even sophisticated clients don’t always understand why financial planning can help them achieve their goals. Regina McCann Hess, Founder and President of Forge Wealth Management, hopes to change that. Regina joins Ginevra Czech, FS Investments Director of Client Value Add Programs, to discuss her passion for educating women about finance, insights …
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The Takeaway with Troy Gayeski: Are private credit markets too good to be true?
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Are private credit markets saturated with too much capital? Chief Market Strategist Troy A. Gayeski, CFA, shares the key takeaways from his new strategy note, Are private credit markets too good to be true—Or just factually true? Troy joins Content Strategist Harrison Beck to analyze the opportunity set for private credit. He addresses frequent inv…
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Banks are essential to the healthy functioning of the global economy, and their role in the financial system has been anything but static over time. Today, headwinds for banks and the growth of private markets point to further evolution. Join Chief U.S. Economist Lara Rhame and Director of Research Andrew Korz as they dive into their recent Playboo…
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Head to Head x Ken Crowley: Chasing waves
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In a new episode of Head to Head, Ken Crowley (Private Wealth Advisor and Managing Director at Rockefeller Capital Management) joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss what surfing taught him about the importance of preparation, how growing up in Central America shaped his perspective and the value that creating …
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FS Thrive x Stefan Underwood: Be a trickle of water
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How can you achieve sustainable high performance in your work? Stefan Underwood, Senior Vice President of Methodology at Exos, has supported the performance goals of pro athletes, elite military operators and leaders at Fortune 100 organizations. Stefan sits down with Ginevra Czech, FS Investments Director of Client Value Add Programs, to discuss h…
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The extraordinary growth in private credit markets has led some investors to question its risks. We go in depth on our recent report, Is private credit a bubble? to offer answers. Join Chief U.S. Economist Lara Rhame, Managing Director of Credit Wealth Solutions Robert Hoffman and Executive Director of Research Andrew Korz as they examine important…
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The Takeaway with Troy Gayeski: Become the bank
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How are investors “becoming the bank” through investments like mortgage REITs? Chief Market Strategist Troy Gayeski shares the key takeaways from his latest strategy note on why current conditions favor these debt-focused CRE investments and how to pick one. Troy joins Content Strategist Harrison Beck to examine the regulatory trends shaping CRE le…
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Election 2024—100 days before the vote: Market and policy impact
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With less than 100 days until Americans hit the polls, how are markets reacting to the rapidly evolving headlines and how should investors navigate the most likely scenarios? Join our experts—Head of Public Policy Jason Cole, Chief U.S. Economist Lara Rhame and Chiron Funds Chief Investment Officer Ryan Caldwell—as they examine the possible policy …
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Election 2024—Biden withdraws: What’s next in politics and markets?
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It’s a political earthquake, but what will Joe Biden's unexpected withdrawal and Kamala Harris’ emerging candidacy mean for investors? Join Head of Public Policy Jason Cole and Executive Director of Investment Research Andrew Korz as they delve into how Republicans and Democrats may respond—plus the potential impact on the “Trump trade,” interest r…
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Golden handcuffs: The latest on the housing market
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A mortgage with a sub-3% rate feels like the proverbial golden handcuffs these days. Join Chief U.S. Economist Lara Rhame and Executive Director Andrew Korz as they examine what investors need to know about the latest trends driving the housing market. They discuss the structural and cyclical issues affecting housing supply, the impact of potential…
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Q3 Research roundup—Navigating market optimism
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Join Chief U.S. Economist Lara Rhame, Executive Director of Investment Research Andrew Korz and Research Associate Alan Flannigan as they examine their outlooks for corporate credit, private equities, commercial real estate and key macroeconomic trends for Q3 2024. They go in depth on the latest impacts of market concentration, stubborn inflation a…
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Election 2024—Market and investing impact
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The upcoming election will likely mean changes in policy and regulation. What shifts can we expect and how could they impact key markets? Join Head of Public Policy Jason Cole and Chief U.S. Economist Lara Rhame as they offer insight into the presidential race, Senate and House contests, and key policy areas such as tax reform, debt, deficit dynami…
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Head to Head: Mike Barry and Kelly Milligan, Quorum Private Wealth
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Mike and Kelly consider themselves more than just financial advisors—they’re life advisors. In a new episode of Head to Head, Managing Partners Mike Barry and Kelly Milligan join Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss their decision to go independent after 20+ years at a name brand firm, the unique, team approach the…
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Answering the burning questions around private debt—Part 2
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Private debt is a growing asset class that’s increasingly making headlines. That’s why we’re back in the studio with more cool answers to your burning questions on this key alternative. Chief U.S. Economist Lara Rhame and Executive Director of Research Andrew Korz join Head of Private Credit Brian Gerson to further demystify the significance, mecha…
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The Takeaway with Troy Gayeski: Too good to be true?
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Are current market conditions too good to be true? Chief Market Strategist Troy Gayeski shares the key takeaways from his latest strategy note on why fear of a “GFC Part II” is a suboptimal reason to hold on to cash. Troy joins Content Strategist Harrison Beck to examine the current economic landscape, how advisors are addressing investor concerns …
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Middle market private equity—Greed versus fear
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It’s a topic as old as investing: how can portfolio builders better balance greed and fear? Against today’s backdrop of high valuations and concentration in public equities, middle market private equity may offer that ideal mix of risk and reward. Join Chief U.S. Economist Lara Rhame, Client Portfolio Manager Philip O’Brien, and Research Associate …
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Head to Head: Jeff Erdmann, Merrill Private Wealth Management
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How does the #1 advisor in the country close business? In a new episode of Head to Head, Jeff Erdmann (Founding Partner of the Erdmann Group at Merrill Private Wealth Management) joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss how childhood dyslexia helped him launch a multi-billion practice, why he hires “partners” ins…
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The Takeaway with Troy Gayeski: Embrace alternatives or be left behind?
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Join Chief Market Strategist Troy Gayeski as he dives into the latest mega trends. Troy sits down with Content Strategist Harrison Beck to examine what’s driving growth in private credit markets, the reason investors are embracing middle market private equity and why exploring alternatives could be essential to staying competitive for financial pro…
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FS Thrive x Sarano Kelley: Access your potential
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In this episode we’re joined by FS Thrive partner, Sarano Kelley, the award-winning speaker, coach and trainer to the financial industry. Sarano sits down with Ginevra Czech, FS Investments Director of Client Value Add Programs, to discuss how to build a “Mega Team,” mobilizing authentic communication to help grow your business and how a hyper focu…
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The middle market—Beyond the limit of public equities
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How can we be bullish on the middle market when the Russell 2000 chronically underperforms the S&P 500? It’s a question that investors often ask when considering middle market private equity—and a perfect opportunity to demystify some of this sector’s unique qualities. Join Chief U.S. Economist Lara Rhame and Executive Director of Research Andrew K…
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The Takeaway with Troy Gayeski: Putting cash to work
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Spring is in the air, and it’s not just the plants that are enjoying the sunshine. The U.S. economy continues its bracing growth, even while the outlook for inflation and interest rates remains stubbornly cloudy. Chief Market Strategist Troy A. Gayeski joins Content Strategist Harrison Beck to discuss his latest strategy note in a brand new show fr…
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Answering the burning questions around private debt – Part 1
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Private debt is a $1.6 trillion market that’s critical to our economy and to investors—and it’s rapidly evolving. As banks have retreated from certain kinds of lending, private lenders have stepped in to fill the gap, allowing investors to reap the potential rewards. Join Chief U.S. Economist Lara Rhame, Head of Credit Wealth Solutions Rob Hoffman,…
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Head to Head: Michelle Marquez, Marquez Private Wealth Management, Raymond James
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In a new episode of Head to Head, Michelle Marquez (Managing Director at Marquez Private Wealth Management of Raymond James) joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss how she built an authentic personal brand, her inspiring work with children’s charities and the unique challenge of managing wealth for professional…
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Q2 2024 Research roundup—Adjusting to the old normal
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The first quarter was marked by a continuation of last year’s economic optimism, albeit against the backdrop of stubborn inflation and high rates. While many investors still dream about substantial rate cuts, a return to the “old normal” could require investors to adjust. Join Executive Director, Investment Research Andrew Korz and Chief U.S. Econo…
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Head to Head: Eve Ellis, the Matterhorn Group, William Blair
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Eve Ellis (Vice President, the Matterhorn Group, William Blair) has received numerous awards, both for her work as a top wealth advisor and for her leadership in promoting equity and empowerment in financial services and beyond. In a new episode of Head to Head, Eve joins Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss what i…
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3D Report: Q1 2024 Recap—Effectively valuing the Mag Six
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While the Magnificent Six continue to lead the S&P 500 to new heights, markets are still learning how to effectively value these tech growth superstars. Meanwhile investors begin to face the reality of their rate cut pipedreams amid strong economic momentum and an increasingly volatile world. In this episode of 3D Report, Chief Investment Officer R…
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In celebration of March Madness, Chief U.S. Economist Lara Rhame and the Investment Research team go head-to-head in “Market Madness.” In this bracket-style debate, our experts consider which topics will be most influential to markets for the rest of the year and what it means for investors. Have a question for our experts? Text us for a chance to …
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FireSide x Mary Ann Bartels: Follow your gut, follow your intuition
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Mary Ann Bartels, Chief Investment Strategist at Sanctuary Wealth and one of the industry’s most trusted experts in economic analysis and financial communication, joins Chief U.S. Economist Lara Rhame for a conversation on market trends, career building, women pathfinders and more. Listen for the 2024 economic outlook she refers to as a “bucking bu…
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FS Thrive x HelloHive: Breaking down barriers
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In this episode, we’re joined by our partners at HelloHive, the next-gen recruitment and resume technology company working to create more equitable pathways for early-career talent. Ginevra Czech, FS Investments’ Director of Client Value Add Programs, sits down with HelloHive’s Head of Client Strategy Claire Schulz, Customer Success Manager Kyra Ma…
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5 challenges and 5 opportunities
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Markets started the year with high expectations and high valuations. But volatility and expensive equities are just a few of the challenges facing investors in 2024. Chief U.S. Economist Lara Rhame and Executive Director, Research Andrew Korz sit down to discuss their latest chartbook examining the five key challenges facing investors today—and how…
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Anatomy of a CRE correction—2024 Update
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The commercial real estate (CRE) market continues to endure a correction that began 18 months ago. Andrew Korz (Executive Director, Research) joins Chief U.S. Economist Lara Rhame to discuss the progress of the correction, examine its drivers and identify potential areas of opportunity that persist despite the challenged market environment Have a q…
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Jason Cole, Head of Public Policy and Corporate Social Responsibility at FS Investments, joins Chief U.S. Economist Lara Rhame to discuss what the latest policy decisions could mean for investors. Lara and Jason address evolving pressures on Treasuries, where the Fed may move next and how election results could impact financial regulation, taxes an…
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10 for ’24—Ten big ideas for 2024
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Lara Rhame sits down with Executive Director, Investment Research Andrew Korz to review last year’s 10 for ’23—and unveil this year’s 10 for ’24, her forecast for the 10 essential trends facing investors in markets, policy and the economy in the new year. Her outlook? While 2024 is opening with optimism that a recession has been avoided, inflation,…
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3D Report: Q4 2023 Recap—The economy has to normalize
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A surprise to the upside has continued to delight investors and confound experts throughout 2023. But despite the current giddy growth, gathering headwinds are likely to bring the economy back to a more rational place in the new year. In this episode of 3D Report, Chief Investment Officer Ryan Caldwell and Chief U.S. Economist Lara Rhame examine th…
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FS Thrive x Ace Quintana: Mapping career growth
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Whether you’re a team of one, or the one in charge of the whole team, everyone has a stake in career development. In this episode, we’re joined by Ace Quintana, Head of Organizational & Leadership Development at FS Investments and our in-house expert on the Predictive Index (PI)—the validated workstyle assessment we use to power career development …
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Head to Head: Louise & Nina Gunderson, UBS Private Wealth Management
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Louise and Nina Gunderson are more than just an incredibly successful advisor team at UBS Private Wealth Management—they’re also mother and daughter. In a new episode of Head to Head, Louise and Nina join Co-Heads of Distribution Kirsten Pickens and Ryan Robertson to discuss running a team like a family, blazing new trails in financial services and…
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FS Thrive: Goal setting—start with the why, achieve the wins
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In this episode we’re joined by Chris Serrano, Performance Manager at EXOS and James Boyd, Wealth Management Advisor at Van Buren Financial Group. One is an expert in fitness, the other is an expert in finance, but each day they tackle the same challenge—helping clients achieve their goals. Chris and James sit down with FS Investments Director of C…
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FireSide: Q4 2023 Research roundtable—Can the growth continue?
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Even with unanswered questions about a potential slowdown, the Q4 economy is largely firing on all cylinders. Commercial real estate continues to navigate a unique correction, while rising stock/bond correlation helps corporate credit shine. Can the growth continue? Join Lara Rhame, Chief US Economist, Robert Hoffman, Managing Director, Credit Weal…
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FireSide: Multifamily—A rental health check-in
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The U.S. commercial real estate (CRE) market has come under pressure from rising interest rates and an uncertain economic outlook. The multifamily sector has experienced what feels like a full market cycle in the span of just three years. With uncertainty swirling around the CRE space, Robert Hoffman and Andrew Korz take a deep dive into their outl…
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FS Thrive x Carlos Muñoz: The Equity Collective
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What is the perception of financial services? And how can we nurture talent that hasn’t always seen a place for themselves in the industry? In this episode, we’re joined by Carlos Muñoz, Head of Asset Manager DEI Engagement at Morgan Stanley. He heads The Morgan Stanley Equity Collective, an industry leading group of top firms (including FS Investm…
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FireSide: Economy, markets and Taylor Swift
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Taylor Swift may be the biggest trend in the economy today. And it’s not just because her Eras tour is giving a lift to everything from airlines to hotels (what other pop star can claim chart-toppers on both Billboard and the Fed’s Beige Book?), but it’s also because of the intriguing way her meteoric rise echoes best practices in accessing alterna…
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Head to Head: A conversation with Rory O'Hara, Founder of Ausperity Private Wealth
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In a new episode of Head to Head, Co-Heads of Distribution Kirsten Pickens and Ryan Robertson share their conversation with Rory O’Hara, CFP®, CRPC®, Founder and Senior Managing Partner at Ausperity Private Wealth. In this episode, Rory shares the early career lessons he learned cold calling (communicate authority and grow a thick skin), how he hel…
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FS Thrive x Jason Cole: What’s happening in Washington?
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What happens in Washington is almost always felt on Wall Street. No one knows this better than Executive Director of Public Policy and Corporate Social Responsibility, Jason Cole. In this episode, Ginevra Czech, Director of Client Value Add Programs, sits down with Jason to discuss what he refers to as the three Cs of government: Confrontation, com…
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