CW 628 – John Taft – CEO RBC Wealth Management – A Force for Good, How Enlightened Finance Can Restore Faith in Capitalism

Why do financial institutions exist and what is their proper role in our society? Today guest John Taft shares the original purpose and mission of the financial services industry. It may seem Wall Street is unwilling to do the right thing by aligning itself with businesses and helping real people in the real world through investments, but Mr. Taft says there are organizations which are still respected and he believes the system will soon right itself. He leaves us with a timely investment tip which is not to be missed.
 
Key Takeaways:
 
Jason’s Editorial:
[3:40] Jason voted with his feet - By leaving a high tax jurisdiction
[8:16] Forcing us to provide our own services
[10:08] True capitalism doesn’t allow for big corporations like we have today
[12:36] Understanding how assets classes react to different economic scenarios
[13:24] Join us in Salt Lake City, Utah for our new JHU live event
 
John Taft Guest Interview:
[16:35] A modern economy couldn’t exist without a financial system
[18:59] Every 10 to 20 years Wall Street forgets what it is supposed to be doing
[20:48] Some people go to Wall Street to make the world a better place
[25:51] The fundamental function of financial institutions is ...
[28:41] Roger Martin is a respected business school dean
[31:09] The good news to come out of the financial crisis
[34:04] The CFA Institute website
[36:19] The importance of financial innovation its function and its purpose
[38:38] We are still in a secular bull market for equities
 
Mentions:
RBC Wealth Management
A Force for Good
Stewardship
CFA Institute
Case-Shiller Index
Finance and the Good Society
Jason Hartman - Matrix Slides
Jason Hartman - JHU live event