Here are some key quotes from my podcast with Michael V. Merrigan, the founder of Shadmoor Advisors, an independent ODD consulting firm he established in 2014:

• “Technology is certainly the number one [change in the investment management business.] We’re only at the forefront of how much technology is going to change our business.”

• “I think clients are looking to us to give context with respect to where is this risk in terms of the market.”

• “We can’t be dismissive of risks, especially smaller risks that aggregate up. It would be foolish to think that one investor is going to have the same perception as another investor.”

• “It often isn’t one big risk, its often a number of smaller risks that in the aggregate are a concern.”