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Transcript

My name is Jason Britton and I'm the Founder and Chief Investment Officer for Reflection Asset Management and I'd like to share with you today my firms proprietary wealth map. One of the biggest challenges I've had throughout my career was working with families and institutions and helping them understand the total picture of their wealth and how that total picture could include those things like their personal philanthropy all the way up to and including life insurance and all the other different types of financial investments that they might have. So we put this together and have applied for a patent for it, but it's a 3 dimensional map and on the north-south. Access, you have expected financial return. That expected financial return can range from alpha seeking where you'd like to do better on a risk adjusted basis than whatever the traditional market rate is. You've got market itself. So what would be sort of your beta investments? You've got another category called concessionary and you're seeing that a lot in the impact investing space, some loan funds etcetera. And then you have none and you might be saying to yourself, well, why would you have none because there are some. Investments that one could go under where you would actually not expect a financial return, you'd expect a pure social return. And that's where your ability to plot philanthropy and sort of your alpha seeking hedge funds all in the same map to give you one snapshot for you and your family. On the East, West axis, we have what we refer to as proximity to change or effect when we make investments. Sometimes those investments have externalities. You might buy a market rate of return ETF on the US equity side. And it turns out that that ETF has a great deal of companies that are very thoughtful on how they manage the world or how they how they think about gender equality or whether or not they've got, you know, progressive policies around the environment. That is something you can actually mark on the map. And those three titles are, you know, there is no proximity to change, meaning there's no change required. That's indirect, which would cover sort of your public securities, and then direct, which would be things that were organized for like qualified purchasers or accredited investors where you might be doing something direct. You want to see that change, you want to be part of a social impact bond or some other green investment. And then we have is the southwest to Northeast, which we refer to as intentionality. So again, sometimes investments will end up having particular attributes that were not designed on purpose, but that's just sort of happenstance. We want to make sure that when we're looking at choosing investments or choosing philanthropy or making a selection that we're doing it with intentionality or we at least understand. So again, just to quickly snapshot your way through this wealth map, you've got the ability to say. Philanthropy, which is a number financial return, 100% social return, direct proximity to change with intentional impact. And that puts us over here and what we call philanthropy and purposeful bucket. And you could also just put your traditional S&P 500 index fund, right? You expect it to return the market. It is by definition you're beta investment, you're owning securities on the secondary market. So you're not actually contributing to the change. You're supporting the share price of a company. That is engaged in this policy, practice or behavior, and there's no real intentionality behind it. It's just how they're managed. So that puts you right here, center, center on the cube and everything in between. We think it's a novel way to be able to have conversations with clients around what it is that matters to them and to be able to visually look at that and size it all in one place so they don't have to do that mental accounting that says, oh, well, this is the bucket that I give away. This is the bucket that I invest, and this is the bucket that I spend. We want to give you that chance. Visually represent everything all at once and to be able to talk about where you'd like to be on the faces of this wealth map. My name is Jason Britton. I'm the Founder and Chief Investment Officer of Reflection Asset Management. And this was my Wealth Map chart. Thank you.