The Money and Meaning Show

From Wall Street to Meaning: Rubin Miller on Investing, Education, and Purpose

In this episode of Money & Meaning, host Jeff Bernier speaks with Rubin Miller, founder and Chief Investment Officer of Peltoma Capital Partners and author of the Fortunes and Frictions blog. They explore Rubin’s journey from trading floors to founding a boutique advisory firm, discuss market philosophy, and examine the tension between serving high-net-worth clients and reaching broader audiences. Rubin shares his views on investment process, financial planning, and what it means to live a meaningful life—both personally and professionally.
Topics covered:
 Rubin’s professional path from bond trading to launching Peltoma Capital
 His firm’s investment philosophy: market efficiency, diversification, and implementation
 Thoughts on small-cap and value premiums
 How bond portfolios are influenced by the shape of the yield curve
 The difference between financial planning timelines and academic investment research
 Role of financial advisors: planning vs. investment management
 Frictions that prevent investors from executing sound strategies
 Rubin’s passion for making financial education accessible to all
 Defining “a perfect day” and the broader idea of fortune
 Reflections on personal growth and recovering from setbacks
Useful Links:
Jeff Bernier on LinkedIn
Peltoma Capital Partners
TandemGrowth Financial Advisors

Think Bigger Than the Headlines: Long-Term Investing Perspective

In this Perspectives episode of The Money & Meaning Show, Jeff Bernier explores how long-term investors can maintain confidence amid economic uncertainty. He outlines the frequency of recessions across a typical retirement span and emphasizes the importance of diversification, revisiting foundational investment principles. Drawing on insights from Joe Wiggins' recent blog, Jeff addresses the dangers of "line-item thinking" and highlights how a holistic approach to portfolio construction can lead to better outcomes over time.
(Note: This episode was recorded on April 1, 2025. Charts in the broadcast are as of March 31, 2025.)
Topics covered:
Historical frequency of recessions and their relevance to retirement planning
Life expectancy and planning for longevity in retirement
Why long-term investment policy should remain steady through market noise
Economic uncertainties under the new administration
The risks of reacting to short-term market predictions
Concept and consequences of "line-item thinking"
Performance comparison of U.S. vs. international equities
Asset class analysis: small value vs. large core equities
Role of bonds in a diversified portfolio during downturns
Key takeaways from Joe Wiggins' blog on behavioral finance
Building resilient, anti-fragile portfolios for long-term success
The real risk: inability to meet financial goals
The importance of thinking holistically about portfolios
 
Useful Links:
Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/
Joe Wiggins' Behavioural Investment blog: https://behaviouralinvestment.com/

Answering the Call: Embracing Life’s Transitions with Ben Katt

In this episode of Money & Meaning, host Jeff Bernier welcomes Ben Katt, author of The Way Home: Discovering the Hero’s Journey to Wholeness in Midlife. Ben is a transformation coach, meditation teacher, and former pastor who helps individuals navigate personal growth and midlife transitions. Together, they explore the significance of Joseph Campbell’s Hero’s Journey, the process of leaving the familiar, facing the unknown, and returning to a renewed sense of self. Ben shares insights on spirituality, purpose, and belonging, offering practical guidance for those moving into the next chapter of their lives. This conversation is invaluable for mid-to-late career individuals seeking meaning and direction beyond financial success.
Topics covered:
Joseph Campbell’s Hero’s Journey and its relevance to personal transformation
The three stages of the journey: leaving the familiar, falling into the unknown, and rising to wholeness
Identifying and responding to the "call to adventure" in life transitions
The importance of solitude, mindfulness, and self-reflection in discovering personal purpose
How unresolved childhood patterns shape adult identity and decision-making
Learning to embrace uncertainty and trust in life's unfolding process
The impact of societal expectations and achievement-driven identities
Finding fulfillment beyond financial success in midlife and retirement
The role of meditation, spiritual practice, and community in personal growth
Practical steps for stepping into a new phase of life with intention
Useful Links:
Jeff Bernier on LinkedIn
Ben Katt on LinkedIn: https://www.linkedin.com/in/benkatt
Ben Katt: https://www.benjaminkatt.com/
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/

Perspectives: Weathering the Storm — Smart Strategies for Uncertain Markets

In this Perspectives episode of Money & Meaning, host Jeff Bernier shares insights on handling uncertainty during challenging times. Reflecting on past crises—9/11, the Great Financial Crisis, and the COVID-19 pandemic—Jeff explores how emotions can cloud judgment and why it's essential to develop strategies for managing risk and uncertainty. He provides practical advice on staying grounded, focusing on long-term goals, and avoiding fear-based decision-making. Whether you're feeling anxious about political change, market fluctuations, or the broader economic landscape, this episode offers a thoughtful approach to maintaining clarity and confidence in uncertain times.
Topics covered:
The cyclical nature of uncertainty and how history offers perspective
The difference between risk (manageable) and uncertainty (unbounded)
The importance of journaling as a tool for reflection and growth
Strategies for handling uncertainty:
Clarifying personal values and beliefs
Maintaining faith in the future and a long-term perspective
Being selective about the media and content consumed
Focusing on relationships, opportunities, and personal growth
Practicing gratitude and avoiding reactionary decision-making
Why politics should not drive investment decisions
The role of goal-focused, planning-driven investing versus market-focused, performance-driven investing
Useful Links:
Jeff Bernier on LinkedIn: https://www.linkedin.com/in/jeffberniercfp/
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/

Rethinking Portfolio Diversification with Phil Huber

In this episode of Money & Meaning, host Jeff Bernier welcomes Phil Huber, Managing Director and Head of Portfolio Solutions at Cliffwater. Phil is also the author of The Allocator’s Edge, a modern guide to alternative investments and portfolio diversification. They discuss the evolving role of alternative investments, the challenges facing traditional 60/40 portfolios, and how private markets and new fund structures are reshaping opportunities for financial advisors and individual investors. This episode is essential listening for those looking to build more resilient, well-diversified investment strategies.
Topics covered:
Phil Huber’s background and career journey in wealth management and alternative investing
The definition and misconceptions of alternative investments
The rise of private credit, private equity, and interval funds
Why liquidity matters and how it impacts returns
Challenges of the traditional 60/40 portfolio in today’s market environment
The role of private markets in retirement income planning
How rising bond yields affect portfolio allocation decisions
Key considerations for investors exploring alternative investments
Useful Links:
Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/
Phil Huber on LinkedIn: https://www.linkedin.com/in/phil-huber
Cliffwater: https://www.cliffwater.com/
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/

February Perspectives

In this special "Money & Meaning Perspectives" episode, host Jeff Bernier shares key insights from recent readings and market trends to help listeners make informed financial decisions. He explores the concept of financial bubbles, including lessons from historical market cycles and current concerns surrounding the concentration of a few major stocks. Jeff also discusses recent breakthroughs in artificial intelligence with the rise of DeepSeek and its potential impact on industries, alongside the importance of international diversification in investment strategies. Tune in for a concise yet insightful update on market trends and strategic investing.
Topics covered:
The concept of financial bubbles and historical market cycles
Lessons from the 1920s auto industry and the 1999 dot-com boom
Insights from Howard Marks on market valuation concerns
The rise of DeepSeek AI and its disruptive impact on the tech sector
Comparisons between the current AI boom and past technological revolutions
The importance of international diversification in investment portfolios
U.S. market dominance and historical parallels with Japan’s market rise
Valuation considerations when investing in different global markets
The role of diversification in managing investment risk
Useful Links:
Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/

Understanding Risk Management with Hunter Ewing

In this episode of Money & Meaning, host Jeff Bernier interviews Hunter Ewing, co-founder and director of Private Lines Insurance at Higher Ground Risk. They explore the essentials of risk management, including protecting assets, managing liability, and understanding insurance coverage in today’s evolving insurance market. Hunter shares industry insights, practical advice, and personal anecdotes that highlight the importance of proactive financial protection.
Topics covered:
The fundamentals of risk management in personal financial planning
Common types of personal insurance: home, auto, umbrella, and valuable articles coverage
The impact of severe weather events on insurance costs
Key considerations when purchasing flood insurance
Recent industry changes in insurance underwriting and coverage
Misconceptions about personal insurance and financial planning integration
The importance of working with independent insurance agents
Best practices for maintaining adequate insurance coverage
How to evaluate insurance needs for new home purchases and renovations
Useful Links:
Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/
Hunter Ewing on LinkedIn: https://www.linkedin.com/in/hunter-ewing-5460a2a2
High Ground Company: https://www.highgroundcompany.com/copy-of-hunter-ewing 
Tandem Growth Financial Advisors: https://www.tandemgrowth.com/

Aligning Wealth with Purpose: Dr. Daniel Crosby on “The Soul of Wealth”

In this episode of Money & Meaning, host Jeff Bernier welcomes back Dr. Daniel Crosby, a New York Times bestselling author and Chief Behavioral Officer at Orion. Together, they discuss concepts from Crosby’s new book, The Soul of Wealth, exploring how financial well-being intersects with psychology and personal growth. From defining “soulful wealth” to the psychology behind money and happiness, the conversation offers practical insights on aligning financial decisions with what truly matters for a fulfilling life.
Topics covered: 
Overview of Dr. Crosby’s career and role as Chief Behavioral Officer at Orion 
Exploring The Soul of Wealth and its unique, contemplative format 
Defining “soulful wealth” and why wealth is about more than finances 
The impact of meaningful work on life satisfaction and wealth 
Research findings on money and happiness 
Spending habits that contribute to lasting happiness and fulfillment 
The link between generosity, well-being, and the concept of “wealth” 
Behavioral insights for better financial decision-making 
The importance of flexibility in financial planning to accommodate personal growth 
Unique financial strengths and investment tendencies of women 
Setting deeply personal, meaningful financial goals for stronger motivation
Useful Links: 
Jeff Bernier on LinkedIn: https://www.linkedin.com/posts/jeffberniercfp_the-money-and-meaning-show-activity-7202103509700227072-h0Qn/ 
Daniel Crosby on LinkedIn: https://www.linkedin.com/in/danielcrosby 
Orion: https://orion.com/ 
TandemGrowth Financial Advisors: https://www.tandemgrowth.com/