Ep 7 - From Transactions To Transformation: A Pioneer’s Journey In Financial Advisor Recruiting With Mindy Diamond Crazy Wealthy podcast

29:41

What’s driving today’s top financial advisors to break away from big firms and go independent? And how can AI change the game without replacing the human element? In this episode, Jonathan sits down with industry powerhouse Mindy Diamond—founder & CEO of Diamond Consultants, and a pioneer in wealth management recruiting—for a deep dive into the evolution of financial advisory careers, the rise of going independent in the financial advisor world, and how her family built a thriving business from the ground up. You’ll hear Mindy’s unique approach to connecting with clients, her take on where AI fits in the future of finance, and her top advice for new advisors entering the industry today. Whether you're navigating your next career move or are curious about where the wealth management world is headed, this conversation delivers insight, inspiration, and clarity. IN THIS EPISODE: (00:00) Opening and introduction (04:04) Mindy shares the approach she takes to the wealth management space (11:13) Mindy’s opinion about AI and speaks about Dynasty that helps financial advisors go independent (15:05) Mindy gives her advice for new financial advisors coming into the industry (16:38) The outlook for the wealth management sector over the next ten years (20:33) How Mindy’s family business became successful (23:47) Listen to Jonathan and Amy’s recap of the episode KEY TAKEAWAYS: Mindy described her journey from a transactional recruiting background to pioneering a more consultative approach in wealth management recruiting. She emphasized the importance of deeply understanding clients' goals, frustrations, and values before recommending opportunities. This strategy mirrored how top financial advisors shifted from pushing products to offering personalized advice. A significant factor behind the migration from traditional brokerage firms to independent RIAs is a growing incongruence between advisors’ desire for autonomy and the restrictions of large firms. Advisors increasingly want control over serving clients, managing teams, and running their businesses. AI is a tool that can enhance advisors' effectiveness rather than replace them. From streamlining writing and communication to improving operational efficiency, AI can make advisors better at their jobs—but it cannot replicate the human connection. RESOURCE LINKS Fusion Family Wealth - Website Johathan Blau - LinkedIn Mindy Diamond - LinkedIn Diamond Consultants - Website Mindy Diamond - Website Evolution of Wealth Management: From Customer’s Man to Behavioral Counselor with Harvey Radler GUEST BIOGRAPHY: Mindy Diamond developed an organization that employs a unique relationship-driven approach to helping individuals and organizations achieve what she calls their “Best Business Life.” By counseling advisors on how to ask the right questions and “dig deep,” she helps them examine all of the opportunities available to find the one that allows them to reach their full potential. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based in Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family.…

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Fix It Friday - Rich Yet Reckless: The Surprising Investment Missteps of the Ultra Wealthy 11:36

25 days ago11:36

11:36

Welcome to another insightful episode of Fix-It Fridays, the podcast segment that simplifies financial strategies to help you make smarter decisions. Hosted by Jonathan Blau, CEO of Fusion Family Wealth. Each episode dives into common biases that impact our financial choices—and how to fix them. This week, Jonathan discusses the common investing behavioral mistakes the ultra-wealthy make. He shares insights from TIGER 21 and the analysis of billionaire investing habits, bias, and strategy. Tune in! IN THIS EPISODE: 00:00 Podcast Intro and Disclaimer 01:29 What is TIGER 21 and what does the acronym stand for? 02:52 Behavioral Mistakes of Ultra-Wealthy Investors 05:24 What is Overconfidence Bias in Investing? 06:25 What happened with the TIGER 21 Madoff Ponzi Scheme Scandal? 07:57 Familiarity Bias In Real Estate Investments 08:59 The Correlation Between Wealth and Investment Wisdom KEY TAKEAWAYS: TIGER 21: A Glimpse into Billionaire Investing - Overview of TIGER 21, an investment group managing $170 billion. Behavioral Biases Affecting Billionaire Investors - Ultra-wealthy investors are not immune to common investment biases, often magnified by their resources and confidence. Case Studies of Billionaire Investment Missteps - Real-world examples show the dangers of recency bias and overconfidence in investment decisions. Human Nature and Investing - Understanding and mitigating biases is crucial for successful investing, regardless of wealth. ABOUT THE HOST: Jonathan Blau is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Fix It Friday - Beyond Bear Markets and Recessions: Learn the Two Biggest Risks to Investor Wealth 12:30

6 weeks ago12:30

12:30

Welcome to another insightful episode of Fix-It Fridays, the podcast segment that simplifies financial strategies to help you make smarter decisions. Hosted by Jonathan Blau, CEO of Fusion Family Wealth, each episode dives into common biases that impact our financial choices—and how to fix them. This week, Jonathan tackles the two biggest threats to investor wealth: inflation and investor behavior. Focusing on long-term financial success, he offers valuable advice on navigating these challenges. Tune in! IN THIS EPISODE: 00:00 Podcast Intro and Disclaimer 00:50 What are the external and internal threats to wealth? 02:24 How does inflation erode purchasing power? 04:26 What are Loss Aversion and Ambiguity Bias in Investing? 05:58 How can investor behavior become an internal threat? 06:59 Long-term stock market performance despite volatility 08:31 How bond investments can impact your portfolio 09:32 Gold as an Inflation Hedge: Myth vs. Reality 10:34 External threats: how the media influence investors KEY TAKEAWAYS: Inflation impacts purchasing power, making it essential to consider an inflation hedge within your portfolio to protect investor wealth. Investor behavior, influenced by biases such as loss aversion and ambiguity bias, can lead to poor investing decisions. Understanding these biases is crucial for effective financial planning. Predictions and media influence can skew investor psychology, often leading to volatility misconceptions and missteps during bear markets. Jonathan emphasizes the importance of a diversified portfolio to mitigate threats to wealth, including sequence of return risk. Bond investments play a strategic role in safeguarding against the sequence of return risk, especially for those approaching retirement. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Ep 6 - How to Succeed in Volatile Markets: Things Most Won’t Hear From Big Brokerage Firms, Investment Banks and Financial Media (CNBC) 32:34

7 weeks ago32:34

32:34

Welcome to another insightful episode of the Crazy Wealthy Podcast hosted by Jonathan Blau, CEO of Fusion Family Wealth. In this episode, Jonathan addresses investor concerns about market volatility, offering insights and strategies to maintain a rational perspective during uncertain times. He also guides listeners through understanding market fluctuations and the importance of a long-term investment approach in volatile markets. Tune in! IN THIS EPISODE: 00:00 Podcast Intro and Disclaimer 02:01 What Does Market Volatility Mean for Investors? 03:34 Recent Market Corrections: A 10% drop in the S&P 500 is not unusual 06:07 Will Market Volatility Hurt My Portfolio? 11:13 Which Market is Most Volatile? 18:50 Misconceptions on Warren Buffett's Strategy 22:25 Importance Of Diversification Beyond S&P 500 24:27 The Most Important And Difficult Action In Volatile Markets 26:11 Podcast Recap with Jonathan and Amy KEY TAKEAWAYS: Market volatility is essential for achieving premium returns and should not be feared. Market corrections are normal; understanding the historical context can prevent panic. Recessions occur regularly and should be viewed as part of the economic cycle. Long-term investment strategies outperform attempts to time the market. Warren Buffett's approach underscores the importance of investing in quality businesses. ABOUT THE HOST: Jonathan Blau is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Ep 5 - Prioritizing Purpose Over Profit for Success: NY State Assemblyman Steve Stern’s Journey from Childhood to Advocate for Veterans, Elders and the Long Island Community 38:58

9 weeks ago38:58

38:58

In this episode, Jonathan sits down with New York State Assemblyman Steve Stern, who is proud to serve his fourth term representing the 10th Assembly District. Since his election in 2018, Assemblyman Stern has championed critical legislation to safeguard groundwater, support veterans, protect children’s health, and combat the opioid epidemic. Together, Jonathan and Steve explore the intersection of wealth, policy, and service—discussing how financial well-being extends beyond numbers to impact communities, legislation, and the lives of those who have sacrificed for our country. Tune in for a compelling conversation that redefines what it means to be genuinely "crazy wealthy." IN THIS EPISODE: (00:00) Introduction (01:30) Steve shares his professional background and his interest in Elder Law, Veterans Affairs and Estate Planning in the Long Island Community (07:45) How Steve’s interest in elder law began (13:17) Money was never the motivation for Steve’s career (18:21) Steve shares his childhood (23:45) Jonathan discusses society in the ’50s, ’60s, and ’70s (27:08) Steve leaves listeners with a final word about veterans (31:16) Amy joins Jonathan to recap this episode! KEY TAKEAWAYS: As a New York State Assemblyman, Stern has recently been appointed chairman of the State Assembly Committee on Veterans Affairs. This role is particularly significant given Long Island's large veteran population, making it his personal and community-driven priority. Many, especially younger generations, expect instant success. But true success comes from patience, persistence, and passion—chasing money alone leads to dissatisfaction. Higher incomes don’t guarantee happiness—social media and rising material expectations fuel dissatisfaction. True happiness comes from contentment and defining “enough,” not chasing more. RESOURCE LINKS Fusion Family Wealth - Website Johathan Blau - LinkedIn Steven H Stern, Attorney - Website GUEST BIOGRAPHY: Steve Stern is honored to be re-elected for a fourth term as New York State Assemblyman for the 10th District. First elected in a 2018 special election, he hit the ground running, passing six bills in his first six weeks to protect groundwater, support veterans, and safeguard children's health. He has secured historic funding for local schools and law enforcement to combat the opioid crisis and gang violence. As Chairman of the Veterans Affairs Committee, Steve has championed legislation to expand veteran benefits, employment opportunities, and protections for veteran homebuyers and Service-Disabled Veteran-Owned Businesses. Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Fix It Friday - The S&P 500, Performance Chasing and the Dangers of Outcome Bias 15:56

11 weeks ago15:56

15:56

Welcome to Fix It Fridays on the Crazy Wealthy Podcast with Jonathan Blau, CEO of Fusion Family Wealth. In these quick episodes, Jonathan unpacks common financial missteps and the behavioral biases that often trip up even the savviest investors. Today's episode dives deep into the dangers of “Performance Chasing.” He'll explore the importance of proper diversification beyond simply owning multiple funds with similar holdings and discuss overcoming biases like confirmation and recency bias to make informed investment decisions. IN THIS EPISODE: [1:15] Jonathan defines “Performance Chasing” and provides examples of why investors do it [5:06] Example of Performance Chasing documented by Morningstar and becoming a wealth destroyer [7:44] The importance of staying diversified [12:10] Good advice for investors on the long-term perspective [12:54] Jonathan gives an example of “DINO diversification” and “true diversification” KEY TAKEAWAYS: Investing heavily in assets that have recently performed well can be risky. This "performance chasing" can lead to concentrated portfolios and significant losses when those assets decline. History provides numerous examples, such as the dot-com bubble, where investors suffered losses by heavily concentrating their investments on a few high-flying stocks. Diversification is essential for long-term investment success. However, avoiding "DINO" (Diversification In Name Only) portfolios is crucial, where multiple funds hold significant exposure to the same assets. Proper diversification requires investing across various asset classes, sectors, and investment styles. Successful investing emphasizes long-term goals and avoids short-term speculation. The power of compounding demonstrates the importance of consistent investing in a diversified portfolio over the long term. Making investment decisions based solely on short-term market trends and recent performance can harm long-term financial success. RESOURCE LINKS Fusion Family Wealth - Website Johathan Blau - LinkedIn ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, a firm he founded in 2013 that emphasizes behavioral finance to help clients make rational financial decisions in uncertain times. Known for his clear and engaging approach, Jonathan is a sought-after speaker in wealth management and investing. His background includes senior roles in tax and estate planning at Arthur Andersen, and he holds a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island with his family, Jonathan is active in the local business community and supports causes like the Middle Market Alliance and Sunrise Day Camp. He enjoys boating in his spare time. Fusion Family Wealth, Performance Chasing, Diversification, Long-Term Perspective, Investing, Risk Management, Asset Allocation, Portfolio Management, Behavioral Finance, Compounding, Market Volatility, Financial Planning, Investment Strategy…

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Ep 4 - Financial and Life Survival Strategies with a Special Ops Veteran Chadwick Ford: Tactics for Overcoming Biases in Wealth and Warfare 53:46

13 weeks ago53:46

53:46

In this episode, Jonathan sits down with Chadwick Ford, a special ops veteran and founder of Elysium Aero, to explore the striking parallels between military strategy and financial planning. Chad shares his distinguished military background and reveals how risk assessment, adaptability, and mission-focused discipline apply just as much to the battlefield as they do to building long-term financial security. They dive into the nuances of known and unknown risks, the importance of learning from history rather than just knowing it, and the necessity of removing emotions from decision-making. Chad discusses how trust in the architect of a plan—whether in combat or wealth management—can be the difference between failure and success. This conversation is a must-listen for those looking to approach their financial future with the same strategic precision as an elite military operation. IN THIS EPISODE: [1:41] Chad shares his distinguished military background, and he compares financial investing with a deployed environment [12:30] Risk management, known and unknown, known and the known unknown and the unknown-unknown when executing strategic planning [18:00] Not just knowing history but learning from it [26:23] Training to stay on mission and removing emotions from decision making plus trusting the architect of the plan [35:44] Chad talks about a couple of close calls, and Jonathan makes his financial comparisons [43:14] Chad shares the firm he founded, Elysium Aero and describes its purpose [45:47] Jon and Amy recap this episode! KEY TAKEAWAYS: Military and financial planning share strategic parallels. Both require mission-oriented planning, risk assessment, and disciplined decision-making to navigate uncertainties and achieve long-term success. Risk management is essential. As reconnaissance reduces battlefield uncertainty, financial tools like insurance and diversification safeguard against unexpected setbacks. Success comes from adaptability. Understanding history, assessing risks, and evolving strategies are key to long-term financial and warfare success. RESOURCE LINKS Fusion Family Wealth - Website Johathan Blau - LinkedIn Elysium Aero - Website Chadwick Ford - LinkedIn GUEST BIOGRAPHY: Chadwick Ford is the President and CEO of Elysium Aero Consulting & Solutions, a firm focused on providing innovative leadership development, strategic planning and consulting services to help businesses excel in today’s competitive market. Through customized programs and military-inspired strategic frameworks, Ford’s firm empowers organizations to overcome challenges, drive sustainable growth, and strengthen their leadership capabilities. Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family.…

Crazy Wealthy Podcast

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Fix It Friday - Beware Allowing the Illusion of Predictive Value to Influence Portfolio Decisions! 10:16

14 weeks ago10:16

10:16

Welcome to Fusion Fix-It Fridays, the podcast that simplifies financial strategies to help you make smarter decisions. Hosted by Jonathan Blau, CEO of Fusion Family Wealth, each episode dives into common biases that impact our financial choices—and how to fix them. Today, Jonathan tackles the illusion of predictive value, a bias that leads us to overestimate the reliability of predictions, including those made by experts. He shares real-world examples, practical advice on making portfolio decisions, and insights into what separates successful investors from those who fall short. Plus, don’t miss Jonathan’s favorite quote on the pitfalls of overconfidence. Let’s get started! IN THIS EPISODE: [1:04] Jonathan’s topic is the bias called the illusion of predictive value. [2:56] Jonathan shares a story supporting the bias [5:31] Jonathan advises when portfolio decisions should be made and describes successful and unsuccessful investors [8:25] Jonathan shares his favorite quote on predictive value KEY TAKEAWAYS: Overestimating the reliability of our own or others’ predictions, particularly those of experts, often leads to poor decisions. The defining characteristic about the future is that there are no facts about it, making predictions inherently unreliable. Successful investors stick to long-term goals and plans, avoiding reactive changes based on short-term market performance, current events, or expert predictions. Adjusting portfolios should only happen when personal circumstances or goals change. Studies, such as those by Phil Tetlock, show that expert forecasts are correct about 49% of the time, akin to a coin flip. Moreover, the most famous or confident-sounding experts often have the least accurate predictions. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures Bias, Predictions, Investing, Fusion Family Wealth, Portfolio, Financial Planning, Expert Forecasts, Illusion Of Predictive Value, Long-Term Goals, Decision-Making, Market Performance, Overconfidence, Successful Investors, Planning-Driven Strategies, Economic Trends, Investor Psychology…

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Fix It Friday - The Myth of The Risk of Stocks 17:47

16 weeks ago17:47

17:47

Welcome to Fusion Fix-It Fridays, the podcast that simplifies financial strategies, hosted by Jonathan Blau, CEO of Fusion Family Wealth. In today’s episode, Jonathan tackles “The Myth of the Risk of Stocks.” Drawing on over 30 years of experience, he challenges the common fear that investing in stocks jeopardizes retirement savings. Instead, Jonathan explains why the real risk lies in inflation eroding purchasing power—what he calls "the disease of money." You’ll learn how long-term investments in great companies, like those in the S&P 500, can outpace inflation, while bonds, often considered “safe,” may diminish wealth over time. If you’ve ever wondered how to make smarter investment choices, this episode is for you. Let’s get started! IN THIS EPISODE: [0:21] Jonathan’s topic is the myth of the risk of stocks [2:00] Investors selling into a temporary decline because of fear of risk [4:51] Bonds freeze the value of your dollar during inflation [10:02] Jonathan’s recommendations [13:07] Becoming antifragile and fighting “this time is different” KEY TAKEAWAYS: The "risk of stocks" is often misunderstood. Long-term investments in diversified portfolios, like the S&P 500, are not inherently risky if left to grow through temporary market declines. Instead, the absolute risk lies in failing to protect purchasing power against inflation, which bonds cannot adequately do. Stocks vs. Bonds Misconception: Conventional wisdom often misrepresents stocks as risky and bonds as safe. However, over the long term, stocks consistently outpace inflation, protecting and growing purchasing power, while bonds risk eroding it due to fixed returns and inflation. The Psychological Barrier: Investors' fear of stock market volatility often stems from psychological misconceptions rather than historical evidence. By selling during temporary declines, they create permanent losses, highlighting the need for a shift in mindset to embrace long-term growth. GUEST BIOGRAPHY: ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn DISCLAIMER Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures Risk, Inflation, Purchasing Power, Fusion Family Wealth, Investment, Wealth Management, Behavioral Finance, Behavioral Investment Counseling, Investor Behavior, Stocks, Bonds, Volatility, Safety, Growth, Wealth, Psychology, Diversification…

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Ep 3 - Resilience in Financial Adversity: Fred Gold's Recipe For Lasting Happiness After Catastrophic Financial Loss 37:13

17 weeks ago37:13

37:13

In this insightful episode, Jonathan sits down with his father-in-law, Fred Gold, a seasoned CPA and business advisor with over 40 years of experience, including a distinguished tenure as a Partner at Arthur Andersen LLP. Together, they explore Fred’s financial journey, the cognitive biases that influence decision-making, and the lessons learned from overcoming challenges like regret aversion and familiarity bias. Beyond financial insights, the conversation delves into the importance of family values, the distinction between eulogy and resume virtues, and Fred’s perspective on living without regrets. Stay tuned as Jonathan concludes with a heartfelt discussion with his wife, Amy, reflecting on her father’s enduring wisdom. IN THIS EPISODE: [2:08] Fred shares his financial business journey [5:22] Making a financial decision based on cognitive biases [12:10] Discussion of regret aversion bias and overcoming a bad decision [20:08] Discussion of internal benchmarks and the importance of integrity [26:08] Fred discusses a pivotal decision in his career [29:35] Fred shares that he has no regrets in life, and Jonathan visits with Amy, his wife and Fred’s daughter, about how the conversation went with her father KEY TAKEAWAYS: Cognitive biases, such as familiarity and recency, can distort financial decisions. To minimize risks and regret, evaluate decisions objectively, consider worst-case scenarios, and diversify investments. Biases like familiarity, recency, and regret aversion can skew financial decisions. To avoid pitfalls, evaluate risks objectively, consider outcomes, and use strategies like diversification or stop-loss measures. Living by internal benchmarks fosters authentic happiness and meaningful success. Prioritizing family, values, and character over societal metrics leads to fulfillment. Treating everyone respectfully highlights the timeless importance of integrity in life and work. GUEST BIOGRAPHY: Fred spent 40+ years as a CPA and business advisor, primarily as a Partner at Arthur Andersen LLP. He led the Long Island practice and managed the enterprise audit practice in Metro New York, earning clients' trust as their most trusted advisor. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Johathan Blau - LinkedIn Fred Gold - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Fix It Friday - Seeking Certainty: The Investor’s Paradox 12:46

19 weeks ago12:46

12:46

Welcome to Fusion Fix-It Fridays , hosted by Jonathan Blau, CEO of Fusion Family Wealth. In today’s episode, Jonathan dives into the uncertainty trap —the harmful reliance on financial predictions that many investors pursue to find certainty about their financial future. He explores how the financial industry has shifted from selling products to selling advice and how this advice often feeds the illusion that certainty can be bought. Jonathan will explain why financial forecasts are frequently unreliable and how investors should focus on preparation rather than prediction to navigate the unpredictable nature of the markets. Listen to Jonathan’s insights on avoiding the uncertainty trap and taking a more resilient investment approach. IN THIS EPISODE: [0:21] Jonathan’s topic is financial predictions and the inevitable uncertainty [2:04] Firms are selling the illusion of certainty regarding consumer investments [3:00] Beware of financial predictions and instead work on the preparation for the uncertainty [8:22] Discussion of the Bond Market, which will be less favorable [9:31] Bottom-line investment advice KEY TAKEAWAYS: The financial industry's reliance on predictions to sell advice and products perpetuates the illusion of certainty, which cannot be achieved. Forecasts about market timing or economic performance with studies showing their accuracy are no better than chance. Investors often fall into the "uncertainty trap" by prioritizing predictions over sound financial preparation. Relying on financial forecasts, especially those from seemingly credible and articulate forecasters, is often counterproductive, as their accuracy is comparable to a coin flip. Instead of seeking predictions, investors should focus on preparation and resilience to navigate unprecedented events and uncertainty effectively. The idea that uncertainty can be heightened at specific times is misleading because uncertainty is constantly inherent in every moment. Media narratives suggesting otherwise can create unnecessary caution and anxiety for investors. Recognizing that ever-present uncertainty helps foster a more grounded and resilient investment approach. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures Uncertainty, Financial Predictions, Preparation, Fusion Family Wealth, Investment, Wealth Management, Behavioral Finance, Behavioral Investment Counseling, Investor Behavior, Illusion of Certainty, Financial Forecasts, Market Timing, Financial Planning, Investor Resilience, Economic Trends, Media Narratives…

Crazy Wealthy Podcast

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Fix it Friday - Why Money Can’t Buy Happiness 8:34

21 weeks ago8:34

8:34

Welcome to Fusion Fix-It Fridays, hosted by Jonathan Blau, CEO of Fusion Family Wealth. In today's episode, Jonathan dives into the timeless question: Can money buy happiness? While many may believe wealth leads to fulfillment, Jonathan challenges this idea by exploring how our brains are wired for the fleeting pleasure of material gain and why true happiness lies in far deeper sources of meaning. He’ll share insights from the 1700s by French philosopher Montesquieu, discuss the concept of “enough,” as illustrated by Joseph Heller, and offer advice on assessing your happiness beyond the pursuit of wealth. Tune in for a thought-provoking conversation that may change your thoughts about success and contentment. IN THIS EPISODE: [1:14] Jonathan explores the dopamine rush that comes with buying [2:22] Montesquieu’s timeless insights on happiness and comparison [4:00] Jonathan’s formula for assessing your happiness [4:35] A thought-provoking example from Morgan Housel and Joseph Heller on the concept of ‘enough’ [6:24] Jonathan offers final advice on why money can’t buy true happiness KEY TAKEAWAYS: Money can't buy lasting happiness because our brains are driven by the dopamine rush from anticipating new possessions, not from the items themselves. This creates a cycle of constant desire for more, similar to an addiction, where the excitement of acquiring something new fades quickly, and we're left craving the next big thing. True happiness isn't found in material wealth but in deeper, more meaningful sources of fulfillment. Montesquieu's insight from the 1700s still rings true today: our desire for happiness is often less about achieving personal joy and more about being happier than others. Social media, particularly Facebook, amplifies this by showing only the highlights of others' lives, creating an illusion of greater happiness. We measure our success and happiness in relative terms, constantly comparing ourselves to others rather than finding absolute satisfaction or what truly brings us fulfillment. The principle of "enough" highlights that true happiness and contentment come from recognizing when we have reached a point of fulfillment rather than constantly striving for more. Joseph Heller's response to the billionaire hedge fund manager—emphasizing that he had "enough"—shows that contentment isn't measured by wealth or material success but by the ability to acknowledge and appreciate what we already have. Without this sense of enough, we will always move the goalposts, and money alone will never bring lasting happiness. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

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Ep 2 - Evolution of Wealth Management: From Customer’s Man to Behavioral Counselor With Harvey Radler 38:06

22 weeks ago38:06

38:06

Welcome to the Crazy Wealthy Podcast, hosted by Jonathan Blau, CEO of Fusion Family Wealth. In this episode, Jonathan welcomes his first official guest, Harvey Radler, a close friend for over three decades and a seasoned investment and wealth management expert for over five decades. Together, they dive into Harvey's extensive background, the impact of early commission-based sales tactics, and the challenges of the industry’s shift to fee-based, client-centered models. From the infamous Bernie Madoff story to insights on market uncertainty, Harvey provides knowledge on navigating the complexities of today’s financial markets and the importance of staying the course. IN THIS EPISODE: [5:34] Harvey Radler shares his background and history of selling stock [11:34] The Bernie Madoff story [15:36] Converting to commission-based fees [19:57] Buying investments to lose money [23:44] Certainty is not available in financial markets [31:10] Sticking to your plan KEY TAKEAWAYS: Aggressive sales tactics in early stock trading spurred the creation of mutual funds for centralized management, benefiting tax-deferred pensions but causing tax issues for individual investors, leading to the development of SMAs and tax-efficient index funds like the S&P 500. Despite these advancements, investors remain susceptible to emotional biases like fear and greed, often leading to poor decisions. The shift from commission-based to fee-based and discretionary accounts marked a major change in the investment industry, aligning advisors' interests with their client's interests by charging a percentage fee based on assets rather than individual trades. This model encouraged advisors to prioritize clients' long-term success as fees increased with portfolio growth. Certainty in financial markets is an illusion driven by claims of predictive expertise through forecasts, stock analysis, and fund managers. Despite assurances, consistent outperformance and market timing remain elusive, often causing investors to overreact instead of gaining clarity. GUEST BIOGRAPHY: Harvey, Managing Director of Fusion Family Wealth, brings over 60 years of investment expertise to the firm, where he also serves as vice-chair of the investment committee. He and Jonathan Blau co-founded the Blau Radler Group in 2000. Harvey’s career includes roles at Wertheim & Co./Schroders, Prudential Securities, Sanford Bernstein, and Morgan Stanley, and he served on the NYSE disciplinary panel for 25 years. A Wharton School graduate, Harvey’s deep industry experience continues to benefit Fusion’s clients. ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, founded in 2013 to focus on behavioral finance and guide clients toward rational financial decisions. A sought-after speaker in wealth management, Jonathan previously held senior roles in tax and estate planning at Arthur Andersen. He has a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island, Jonathan is active in the local business community, supports causes like the Middle Market Alliance and Sunrise Day Camp, and enjoys boating with his family. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Harvey Radler - LinkedIn Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures…

Crazy Wealthy Podcast

1
Fix it Friday - Never Mix Politics and Investing 8:58

23 weeks ago8:58

8:58

Welcome to Fix It Fridays on the Crazy Wealthy Podcast with Jonathan Blau, CEO of Fusion Family Wealth. In these quick, bi-weekly episodes, Jonathan unpacks common financial missteps and the behavioral biases that often trip up even the savviest investors. Today’s episode dives into the critical lesson of separating politics from investing. With insights from historical data and key moments in U.S. political history, Jonathan highlights why emotional reactions to elections shouldn't influence your financial decisions. Stay tuned for valuable takeaways, including a perspective from Warren Buffet on maintaining a steady investment strategy. IN THIS EPISODE: [:57] Don’t mix politics and investing [3:01] History of both Bush administrations [4:46] History of bitter partisan elections [5:06] 1948 Election [6:49] Closing Statements YouTube video of Warren Buffet KEY TAKEAWAYS: Mixing politics and investing is a mistake. Historically, long-term market returns have been consistent regardless of political party, averaging 10.7% under Democratic regimes and 10.5% under Republican ones. In 20 tracked decades, only one—2000 to 2009 under George W. Bush—saw flat market returns, driven by significant events like the dot-com bubble burst, 9/11, and the global financial crisis, rather than political affiliation. Interestingly, the best-performing decade, 1988 to 1997 under George H.W. Bush, delivered 18% annual returns, with stocks increasing fivefold. History shows that market performance over the next decade will likely be substantial, regardless of election outcomes. While this election has been highly partisan, bitter political divides are nothing new—dating back to 1803 when Vice President Aaron Burr fatally dueled Treasury Secretary Alexander Hamilton. RESOURCE LINKS Fusion Family Wealth - Website Jonathan Blau - LinkedIn Warren Buffet - YouTube Please Note: No individual has been provided nor promised any direct or indirect economic benefit for sharing Fusion podcasts/articles/opinions. No post should be construed as any assurance that a reader will find the podcast/article/opinion beneficial. Please click below for important disclosure information. https://www.fusionfamilywealth.com/disclosures ABOUT THE HOST: Jonathan is the President and CEO of Fusion Family Wealth, a firm he founded in 2013 that emphasizes behavioral finance to help clients make rational financial decisions in uncertain times. Known for his clear and engaging approach, Jonathan is a sought-after speaker in wealth management and investing. His background includes senior roles in tax and estate planning at Arthur Andersen, and he holds a BS in Finance, an MS in Taxation, and an MBA in Accounting. Based on Long Island with his family, Jonathan is active in the local business community and supports causes like the Middle Market Alliance and Sunrise Day Camp. He enjoys boating in his spare time.…

Crazy Wealthy Podcast

1
Fix it Friday - Particular Investment Challenges of Successful Entrepreneurs, Executives and Business People 11:40

25 weeks ago11:40