Today’s guest today is Patrick Geddes, founder and former CEO of Aperio Group, a leader in the direct indexing space with $42b in AUM when it was acquired by BlackRock for over $1b.
In today’s episode, we kick it off with hearing back Patrick’s days at Morningstar as the Director of Quantitative Research & CFO. Then Patrick shares what led him to start a firm focused on direct indexing and customization over 20 years ago. We talk about why the Great Financial Crisis was an inflection point for direct indexing and why there’s been so much M&A in the space over the last couple of years.
Then we talk about his book, Transparent Investing. We talk about consumer advocacy, the importance of taxes & fees, and ways to counteract some of the behavioral biases we all have.
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Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here.