Episode Summary

Kara Murphy, formerly of United Capital and then Goldman Sachs, recently became the first chief investment officer of Kestra Holdings, which has about $33 billion in assets under management. She joined the podcast to share her plans for the new division she will lead, Kestra Investment Management, which will work the firm’s 2,400 advisers on investment selection and advice. Blair DuQuesnay of Ritholtz Wealth Management joined Jeff Benjamin and co-host for this episode Nicole Casperson to discuss takeaways from Britney Spears’ public plea to end her 13-year conservatorship.

Episode Notes

Guest interview — Kara Murphy 0:20 to 16:05

• Why Kestra created an investment management division at this time.
• How Murphy’s first CIO role came about.
• What types of services the division will be offering advisers.
• Which areas Kestra will be hiring for the new division.

Guest interview — Blair DuQuesnay 16:05 to 39:40 

• What is a conservatorship and who needs one?
• Why it’s imperative to do your estate planning early.
• How the lack of education and financial literacy led to this situation.
• What should happen to Britney Spears.

Related links: 

Kestra Holdings

Ritholtz Wealth Management

Related stories: 

Kestra hires Kara Murphy as CIO

Britney Spears’ fight for financial freedom holds lessons for advisers

Guest Bios

Kara Murphy is chief investment officer of Kestra Holdings, a new position that she stepped into in June 2021. Kara and her team provide hands-on support, that includes market commentary and research, guidance on portfolio construction, and a broad array of investment solutions designed to empower financial professionals to serve their clients’ wealth management needs. Kara was most recently chief investment officer and managing director at Goldman Sachs Personal Financial Management, responsible for overseeing client investments.

Blair DuQuesnay is a financial adviser and planner with Ritholtz Wealth Management, which focuses on providing long-term investing through a straightforward, uncomplicated, operationally efficient investment program. She's been at the forefront of social media for financial advisers and was recognized as a 2015 40 Under 40 by InvestmentNews.