As of late May, the US ranks 39th out of 44 global stock markets—firmly in the bottom 15%. Meanwhile, international markets are gaining momentum, with 7 of the top 10 performing countries located in Europe. This performance gap appears to be supported by improving fundamentals, favorable currency trends, and rising earnings expectations across the region. Can it continue? In this episode of Simple, But Not Easy, host Nick VanDerSchie is joined by Morningstar’s Paul Tait and international equity ...
Jun 18, 2025•36 min•Ep. 123
When markets hit a rough patch—as they did in early April—investors often lose confidence. Emotions run high after paper losses, and that’s when many fall into the “ready, fire, aim” trap. Decisions become reactive, not disciplined. It’s common to see investors flee to cash or pivot to more conservative positions in an effort to feel safer. But more often than not, resisting that urge is the better path. In this episode of Simple, But Not Easy, we sit down with Morningstar’s Global Chief Researc...
May 20, 2025•43 min•Ep. 122
We explore the growing convergence between public and private markets and what it means for today’s investors. As private market strategies become more accessible, advisors and their clients are gaining new tools to diversify portfolios and pursue long-term growth. We break down what’s driving this shift, the opportunities and risks involved, and how financial professionals can help investors navigate this evolving landscape.
Apr 07, 2025•29 min•Ep. 121
Time is a financial advisor’s most valuable asset. As industry tailwinds push the profession toward greater client-centricity—and as clients demand more from their advisors—many are recognizing the benefits of outsourcing investment management. By doing so, they can focus on what truly drives their business: being in front of clients and strengthening relationships.
Feb 12, 2025•43 min•Ep. 120
Morningstar Wealth's Chief Investment Officer, Philip Straehl, and Head of Investments, Ricky Williamson share insights on the key themes shaping the investment landscape for 2025 and beyond.
Dec 23, 2024•38 min•Ep. 119
While presidential elections often create tension and leave many feeling on edge, the stock market didn’t share this level of apprehension. Remarkably, October was one of the least volatile months in history leading up to a presidential election. Although this might seem surprising, it’s not entirely unusual. Markets frequently display greater resilience than we might expect. However, it’s important to remember that volatility isn’t always synonymous with selloffs or down days. As Morningstar We...
Dec 06, 2024•25 min•Ep. 118
Some have called this the weirdest housing market in recent history due to the unusual mix of high interest rates and declining affordability. And yet, we still have record high home prices across the 20 largest housing markets in the country. This month, we're diving into the U.S. housing market, a topic very relevant to many investors given a house is often the largest single asset one owns. In this episode, we're excited to shed light on the US housing market, what makes it challenging, what ...
Oct 29, 2024•34 min•Ep. 117
Welcome back to Simple But Not Easy. We hope you had an enjoyable summer and are ready to finish the year on a high note. In today's episode, we're excited to dive deep into the world of investing, market strategies, and the future of wealth management. We'll start by getting to know Philip Straehl, Morningstar's new Chief Investment Officer of the Americas, as he shares insights from his career journey and a wealth of knowledge on the evolving market landscape. From there, we'll explore Morning...
Sep 30, 2024•32 min•Ep. 116
A special live episode from the Morningstar Investment Conference. Two of Morningstar Wealth’s investment leaders—Matt Wacher and Ricky Williamson—joined the show to help us dig into what’s already happened this year and where we may be headed. The topics covered included: • The Fed and where rates may be headed • Further discussion on fixed-income • US stocks are off to another hot start this year. Can outperformance continue? • Every business is thinking about AI. How is it impacting markets? ...
Jul 16, 2024•33 min•Ep. 115
The evolution of financial advice in a few decades time has been nothing short of revolutionary. The industry's transformation has been driven by technological advancements, regulatory changes and evolving investor preferences. Traditional methods of in-person advice have been expanded to include digital platforms, providing investors with greater accessibility and customization. And we've all observed an evolution in financial planning journeys and an increase in the number of advisors making f...
May 07, 2024•32 min•Ep. 114
Much of the discussion around financial advice tends to be around asset allocation, product selection, and fund structures. These are all worthy conversations and topics we’ve enjoyed discussing previously on this show. But one topic that feels underexplored: how do advisors deliver financial advice to clients across generations? A retired client in their 70s needs a much different advice offering than a 40-year-old client in their prime work years. In this episode, we are diving into the fascin...
Mar 14, 2024•41 min•Ep. 113
The Magnificent Seven continue to capture the attention of advisors and investors, dominating U.S. equity performance over the last year. Will this trend continue throughout 2024? Will growth stocks continue to beat value? What about large versus small? And what is 2023's signal about where markets are headed this year? We're delighted to be joined by John Owens, Senior Portfolio Manager for Morningstar's Select Equity Strategies, and Paul Tait, Portfolio Specialist at Morningstar Wealth. Togeth...
Feb 06, 2024•29 min•Ep. 112
The topics we're discussing today align with the recent release of Morningstar Wealth's 2024 Market Outlook. A recession seemed to be the consensus view entering the year, but markets love to fool the masses, and a stock market rally followed. However, the rally was not evenly distributed. Bonds, for example, remain in a multi-year drawdown, and many investors are questioning their role in a portfolio. With this as the backdrop, what actions make sense to support clients? In today's episode, we'...
Dec 08, 2023•49 min•Ep. 111
A lot has already been said about the potential of artificial intelligence, or AI, but how are people actually engaging with it? And how should investors think about their AI exposure in a portfolio? Morningstar has invested heavily in generative AI, with Morningstar Mo taking the stage at our investment conference, and in a first, we're delighted to be joined by a special guest: Mo the AI character. We’ll also be joined by Adley Bowden, Head of Individual Investor and Grady Burkett, Portfolio M...
Nov 02, 2023•43 min•Ep. 110
Financial technology is going through a new wave of change, with artificial intelligence – or AI – taking the world by storm. But the wealth tech space is already incredibly complex, with literally hundreds of tech providers battling for market share across the advisor workflow. So, what does Ezra Group, a prominent WealthTech consultant, have to say about this? How can we get ahead of this change? We're delighted to be joined by Craig Iskowitz, Founder of Ezra Group. Together, we’ll dig into hi...
Jul 11, 2023•33 min•Ep. 109
The need for great financial advice continues to grow, with a landscape we haven’t witnessed in 15 years. So, what does BlackRock, the world’s largest asset manager, have to say about this? What might we expect from here? In this episode, we’ll dig into the latest advice trends, covering the use of models, behavioral application, and evolving investors’ needs. We're delighted to be joined by Liz Koehler, Managing Director and Head of Advisor Engagement from BlackRock.
Jun 07, 2023•28 min•Ep. 108
May 09, 2023•41 min•Ep. 107
The complexity of operating a successful financial advice practice continues to grow and significant challenges still exist in operating an effective practice. So, in this episode, we take a 30,000-foot view of financial advisor challenges and dig into the importance of data and regulations in overcoming these challenges. Whether it is growing or defending your practice, we share expert opinions on how to navigate it. In this episode, we are joined by Nick VanDerSchie, Head of Strategy and Execu...
Apr 06, 2023•39 min•Ep. 106
Warren Buffet readily admits “I make many mistakes” when referencing his own investment portfolio. This begs the question, where does that leave the rest of us? We know that today's market uncertainty can surface the best and worst of our investing behaviors. For financial advisors, what are some of the behavioral pitfalls to avoid for clients? And what opportunities can you seize? We're joined by two experts to help us dig into these important questions - Michael Laughlin, Head of Portfolio Spe...
Mar 03, 2023•38 min•Ep. 105
What are the positive client messages we can share leading into 2023? With inflation and a recession on everyone’s minds, what actions make sense to support clients? The topics we’re discussing today align with the recent release of Morningstar Investment Management’s 2023 outlook titled “the positives of investing in this environment”. In today’s episode, I’m delighted to have Marta Norton and Philip Straehl with us to dig into the outlook, share their perspective, and as always, be sure to add...
Jan 03, 2023•34 min•Ep. 104
Direct indexing is becoming a key addition to financial advisors’ toolkits. It provides the ability to tailor an index, like removing a stock or even industry, which can bring the fun back to investing and help with after-tax outcomes. In 2022, Morningstar launched a direct indexing offering for financial advisors and joined the ‘fun’. So, what’s all the fuss about? What are the salient points you need to know? Who’s it right for? And what are the thorny issues to weigh? We're joined by Sheryl R...
Dec 22, 2022•41 min•Ep. 103
Nov 21, 2022•38 min•Ep. 102
Stagflation is now on the radar for financial advisors and the investors they serve. At the same time, our latest research shows that investor sentiment is plummeting. With this in mind, we are delighted to have two of our most senior researchers who will help us unpack the news headlines, where we are joined by Philip Straehl, Morningstar’s Global Head of Research for Investment Management, and Tyler Dann, our Head of Research for the Americas.
Nov 01, 2022•31 min•Ep. 101
Investors can become confused in today’s challenging climate, and understandably so. It can be difficult for advisors and investors of all types and sizes. In this new season of Simple but Not Easy, we welcome Jonathan Linstra as your new host, along with two of Morningstar’s investment chiefs, Dan Kemp and Marta Norton, who offer straight talk to help navigate this difficult environment. They also shed light on investment lessons and what they look for. We hope you enjoy the episode, from the t...
Oct 17, 2022•41 min•Ep. 100
Stay tuned for our 100th episode up next! We are reinvigorating the podcast going forward, seeking to equip financial advisors with ideas to remove friction and help clients achieve goals. But before we do, we'd also like to thank everyone who contributed to the first 100 episodes, delivering value for our listeners through both calm and stormy waters. To that end, in this episode we showcase the most downloaded so far, which still has special relevance today - investing amidst uncertainty. It c...
Oct 04, 2022•1 hr 3 min•Ep. 99
"The most important quality for an investor is temperament, not intellect". Investing is therefore a matter of good behavior. So what behaviors give advisors and their investors an edge? What behaviors are destructive? In this episode, which recycles evergreen behavioral messages and cites specific studies, Sarah Newcomb, director of financial psychology at Morningstar, Inc., and Ryan Murphy, global head of behavioral insights, discuss all things relating to behavioral science. They cover emotio...
Aug 23, 2022•26 min•Ep. 98
Getting personal might elicit nervousness, but why does it seem so antithetical to investing? We explore personalization and customization in financial practices: if you’re an investor, how well does your financial advisor know you? And advisors, how much time have you taken to get to know your clients? The conversation, which features Matthew Radgowski and Marta Norton as well as Head of Decision Sciences Ryan Murphy, explores Morningstar's belief that getting personal can be good for investors...
Jun 27, 2022•37 min
Good decisions are often built on good forecasts. But forecasting is hard, in part because it requires us to be aware of both what we know and what we don’t—or even can’t—know. Morningstar Investment Management Global Chief Investment Officer Dan Kemp and Global Head of Decision Sciences Ryan Murphy discuss what good forecasting looks like.
Jun 13, 2022•26 min
We present our thoughts on the recent Berkshire Hathaway conclave. Mr. Buffett and Mr. Munger discussed their firm’s ups and downs and weighed in on such topics as their latest investment activity, inflation, cryptocurrency, and what makes their company unique. And we feature the views of Head of U.S. Equity Strategies Michael Corty and Senior Portfolio Manager John Owens, who bring years of experience to the table when giving their points of view on what Buffett and Munger had to say.
May 30, 2022•56 min•Ep. 96
We’ve got the same thing on our mind as the rest of the market—uncertainty. What’s going to happen? Why? When? And what should we do about it? Well, in this episode, taken from a recently recorded webinar, we do our best to address those concerns. We also hope to allay some of the associated fears. To do so, we’ll hear from Tyler Dann, our Head of Research in the Americas; Ricky Williamson, a Portfolio Manager and our Head of U.S. Outcome-Based Strategies; and Paul Arnold, Co-Head of Asset Alloc...
May 16, 2022•1 hr 3 min•Ep. 95
