Updated: Jul 7
Note: While The Innovating Advice Show is resuming after participating in #PodcastBlackout last week in support of #BlackLivesMatter, know that my commitment to continue learning and using my platform however I can to fight racism, injustice and inequality continues.
We know that financial planning has long been seen as elitist and only accessible by the already-wealthy, who are often white. The racial wealth gap is astounding and racial discrimination in financial services is prevalent.
At Innovating Advice, I have always been interested in people creating solutions to these problems. People creating processes, fee structures, systems, cultures and technology that make giving or receiving advice inclusive to all.
That’s the mindset and approach that I appreciate about Chris Shuba, CEO of Helios Quantitative Research and Helios Integrated Planning in this episode. Chris is all about creating tools that help to level the playing field and he seeks to continually evolve. We chat about how Helios is innovating advice, not only through their quantitative research but through their integrated planning and additional tools that will be rolled out this year.
Welcome to episode 37 of The Innovating Advice Show.
I’m joined by Chris Shuba, Founder and CEO of Helios Quantitative Research which provides algorithm-driven, turnkey investment management solutions.
In this episode, we’re chatting about how Helios is innovating advice – not only through their Quantitative Research but through Helios Integrated Planning and additional tools that will be rolled out this year.
While I’m always looking for technology that works across borders, which Helios embraces, what I appreciate most about Chris is his mindset and approach to creating tools that help to level the playing field and how he’s always looking to continually evolve.
When the financial crisis of 2008 struck, it became obvious that a quantitative, emotionless approach to asset management was the clearest path to success in the modern market. After spending time at Ameriprise Financial and as a Senior Quant Analyst at Columbia Threadneedle, Chris Shuba focused on developing mathematical models that could help financial advisors mitigate the volatility of the market.
In 2014, Shuba joined Westlake, Grahl & Glover where he put to use a series of algorithms he designed. These models were met with immediate interest by a broad range of clients, and within the year, financial advisors nationwide were clamoring for access to his algorithms.
Soon thereafter, he founded Helios Quantitative, LLC. Shuba is the Chief Executive Officer (CEO) at Helios. As of October 2019, Helios influences the assets of advisors that collectively manage over $24 billion.
In 2015, Shuba was named the greater Sacramento Area’s “Face of Investing” by Sacramento Magazine. He is a regular speaker and contributor at industry events hosted by State Street, JP Morgan, Standard & Poors Global Indices, and more.
Shuba holds a BS in business finance and law from the Opus School of Business at the University of St. Thomas, and holds a FINRA Series 7, and has completed the Level 1 CFA.
00:33 – Introducing Chris Shuba
01:50 – The history behind the name Helios
04:10 – How Helios and Chris are innovating advice
07:55 – The two ways to look at asset management
12:43 – The two sides of quantitative approaches
14:20 – The difference between backtesting and backfitting
17:40 – Tips for financial advisors who are starting out
20:15 – Helios’ ideal client
23:00 – Being holdings agnostic
25:40 – Helios Integrating Planning
28:50 – The risk of giving legal advice
31:25 – Taking the technology across borders
33:00 – What’s next
35:10 – The future of financial advice