Episode Summary

Eric Kittner, CEO and chairman of Moneta, has a conversation with Jeff and Bruce about the recent trend of wirehouses trying to make inroads in the RIA space, particularly JPMorgan. Christopher Franz and Alec Lucas from Morningstar join to chat about what to expect in capital gains taxes this year.

Episode Notes

In this episode, you'll hear about: 

• Wirehouses nudging into RIA space (JPMorgan specifically).
• What the influx of money is doing to the RIA marketplace.
• Is Moneta pricing itself out of the market for the next gen?
• Capital gains in 2021.
• Market downturns like the one we just had cause capital losses, which offset capital gains.
• What’s driving mutual funds to ETFs.

Related article:  Mutual fund investors brace for hefty capital gains taxes

This episode sponsored by the State of the Industry Podcast by Allworth Financial

One of the five fastest growing RIAs in America, Allworth is seeking new partners to grow with us. 

Listen to Allworth’s industry podcast here.

Guest Bios:

In 2018, Eric Kittner ushered in the next generation of leadership at Moneta. Since that time, Moneta has transformed from a single-location Midwest firm into one of the nation’s largest, top-ranked fee-only independent RIAs, now with a presence in Denver, Kansas City and the Greater Boston Area.

Moneta also shifted its strategy from one of organic-only growth to include mergers and acquisitions for the first time in the firm’s history. Assets under management grew to $27 billion. The firm also has been ranked in Barron’s Top 10 in the nation for its combination of quality and scale for the last three years, 2018-2020.

Eric joined Moneta in 2003 because he was looking to build relationships while taking a more proactive, forward-looking role in the lives of his clients. He loves providing a service and managing his own practice, making Moneta’s client-focused and entrepreneurial approach a perfect landing spot for him.

Christopher Franz is an associate director of equity strategies for Morningstar.

Alec Lucas is a strategist within manager research for Morningstar.