{"id":12847,"date":"2026-10-06T07:00:54","date_gmt":"2026-10-06T12:00:54","guid":{"rendered":"https:\/\/www.cainwatters.com\/digitalblogs\/?p=12847"},"modified":"2026-10-05T14:29:05","modified_gmt":"2026-10-05T19:29:05","slug":"wealth-podcast-ep-308","status":"publish","type":"post","link":"https:\/\/www.cainwatters.com\/digitalblogs\/wealth-podcast-ep-308\/","title":{"rendered":"The Leadership Odyssey: Part 2 &#8211; Ep. 308"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"12847\" class=\"elementor elementor-12847\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-1e7bc78e elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default\" data-id=\"1e7bc78e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f8fa439 ae-bg-gallery-type-default\" data-id=\"3f8fa439\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3c847e5 elementor-widget elementor-widget-heading\" data-id=\"3c847e5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How leaders can innovate while staying true to core principles.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1239ca39 elementor-widget elementor-widget-text-editor\" data-id=\"1239ca39\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div><span class=\"TextRun SCXW144530638 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW144530638 BCX0\">In this episode of the Accumulating Wealth podcast, Judson Crawford and Hunter Satterfield continue their conversation with Jenny Johnson, CEO of <\/span><\/span><a class=\"Hyperlink SCXW144530638 BCX0\" href=\"https:\/\/www.franklintempleton.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW144530638 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW144530638 BCX0\" data-ccp-charstyle=\"Hyperlink\"><span style=\"text-decoration: underline; color: #33cccc;\">Franklin Templeton<\/span><\/span><\/span><\/a><span class=\"TextRun SCXW144530638 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW144530638 BCX0\">. <\/span><span class=\"NormalTextRun SCXW144530638 BCX0\">They focus on how financial industry leaders can navigate risks, embrace innovation, and <\/span><span class=\"NormalTextRun SCXW144530638 BCX0\">maintain<\/span><span class=\"NormalTextRun SCXW144530638 BCX0\"> the foundational principles that led to their success.<\/span> <span class=\"NormalTextRun SCXW144530638 BCX0\">Jenny shares insights on trends shaping the future of investing and wealth management, highlighting the importance of adapting to change through technology and collaboration.<\/span><\/span><span class=\"EOP Selected SCXW144530638 BCX0\" data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/div><div>\u00a0<\/div><div>Have questions or ideas for Hunter and Judson? Reach out at <a href=\"http:\/\/cainwatters.com\/wealth\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #33cccc;\">cainwatters.com\/wealth<\/span><\/a>.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a77e607 libsyn elementor-widget elementor-widget-shortcode\" data-id=\"5a77e607\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><iframe title=\"Embed Player\" src=\"https:\/\/play.libsyn.com\/embed\/episode\/id\/43145318\/height\/128\/theme\/modern\/size\/standard\/thumbnail\/yes\/custom-color\/0c2340\/time-start\/00:00:00\/playlist-height\/200\/direction\/backward\/download\/yes\/font-color\/FFFFFF\" height=\"128\" width=\"100%\" scrolling=\"no\" allowfullscreen=\"\" webkitallowfullscreen=\"true\" mozallowfullscreen=\"true\" oallowfullscreen=\"true\" msallowfullscreen=\"true\" style=\"border-width: medium; border-style: none; border-color: currentcolor; border-image: none;\"><\/iframe><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-30a65f7e elementor-widget elementor-widget-heading\" data-id=\"30a65f7e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">WHAT YOU\u2019LL LEARN<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67fdf544 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"67fdf544\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">How risk and reward balance affects financial decisions <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">The impact of secular changes on wealth management <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Technology\u2019s role in financial innovations <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Why personalization in investments is crucial <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-circle\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">The ongoing importance of financial advisory <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d003af1 elementor-widget elementor-widget-heading\" data-id=\"2d003af1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Questions Answered in this Episode<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ab76024 elementor-widget elementor-widget-text-editor\" data-id=\"3ab76024\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"auto\">How do leaders view risk in the investment industry?\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Leaders assess risk by identifying secular changes and differentiating them from temporary noise, enabling strategic forward movement.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">What is tokenization in financial services?\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Tokenization uses blockchain to create efficiencies and innovation in financial markets by enabling smarter contracts and real-time transactions.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;335559738&quot;:240,&quot;335559739&quot;:240}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">How important is innovation for long-term success?\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Continuous innovation is vital to stay competitive and relevant, balancing current operations with future-forward R&amp;D.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13891e23 elementor-widget elementor-widget-heading\" data-id=\"13891e23\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Key TakEaways<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-114f592d elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"114f592d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Risk management involves anticipation and adaptation <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Technology development enables new product innovations <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Personalization of investment strategies is growing <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Advisory roles remain central to navigating market changes <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36c9dfda elementor-widget elementor-widget-heading\" data-id=\"36c9dfda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Who's this episode for?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e109378 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"e109378\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Business leaders and entrepreneurs <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Investors interested in future market trends <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Professionals in technology and financial services <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Individuals curious about blockchain and AI impacts on finance <\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"3 4 18 14\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M9.55 17.2a1.2 1.2 0 0 1-.85-.35l-4.9-4.9a1.2 1.2 0 1 1 1.7-1.7l4.03 4.03 9-9a1.2 1.2 0 1 1 1.7 1.7l-9.85 9.87a1.2 1.2 0 0 1-.83.35z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Financial advisors and wealth managers<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-758819b3 elementor-widget elementor-widget-heading\" data-id=\"758819b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">ABOUT THE HOSTS<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25e66bfd elementor-widget elementor-widget-text-editor\" data-id=\"25e66bfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #003366;\"><a style=\"color: #003366;\" href=\"https:\/\/www.cainwatters.com\/hunter-satterfield\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong>Hunter Satterfield &#8211; CPA &amp; Partner<\/strong><\/span><\/a><\/span><\/p><ul><li>Financial Advisor with Cain Watters &amp; Associates since 2007<\/li><li>Chief Investment Officer<\/li><\/ul><p><span style=\"color: #003366;\"><a style=\"color: #003366;\" href=\"https:\/\/www.cainwatters.com\/judson-crawford\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><strong>Judson Crawford &#8211; CPA &amp; Partner<\/strong><\/span><\/a><\/span><\/p><ul><li>Financial Advisor with Cain Watters &amp; Associates since 2004<\/li><li>Public speaker, New associate mentor, Marketing Committee member<\/li><\/ul><p>Reach Hunter and Judson here: <a href=\"https:\/\/www.cainwatters.com\/wealthpodcast\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline; color: #33cccc;\">cainwatters.com\/wealthpodcast\/<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2099eab5 elementor-widget elementor-widget-heading\" data-id=\"2099eab5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">About the show<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4bfef26c elementor-widget elementor-widget-text-editor\" data-id=\"4bfef26c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Accumulating Wealth Podcast helps business owners and professionals make smarter financial decisions through insights on tax strategy, investing, and long-term wealth planning.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-411b3da9 elementor-widget elementor-widget-heading\" data-id=\"411b3da9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Additional Resources<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f4fc954 elementor-widget elementor-widget-n-accordion\" data-id=\"3f4fc954\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;all_collapsed&quot;,&quot;max_items_expended&quot;:&quot;multiple&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1060\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1060\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Podcast video <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-356f7f57 e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1060\" data-id=\"356f7f57\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5295bec1 elementor-widget elementor-widget-text-editor\" data-id=\"5295bec1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><a href=\"https:\/\/youtu.be\/UROnvlT43n0\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration-line: underline; color: #33cccc;\">Podcast Video<\/span><\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1061\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1061\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Full transcript <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-7f6a74fa e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1061\" data-id=\"7f6a74fa\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6d725645 elementor-widget elementor-widget-text-editor\" data-id=\"6d725645\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Welcome to the Accumulating Wealth podcast. I&#8217;m Judson Crawford. And I&#8217;m Hunter Satterfield. We are CPAs, wealth advisors, and partners at CWA, a financial services firm here to help you navigate the decisions you face every day.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And today, we continue our conversation with Jenny Johnson, CEO of Franklin Templeton. In this episode, we&#8217;ll discuss how leaders can evaluate risk, embrace innovation, and continue evolving without losing the principles that built their success. We&#8217;ll also look at the trends shaping investing and wealth management in the years ahead, and what investors should be paying attention to right now. Can you say tokenization? Let&#8217;s go.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">All right, listeners, thanks for being back with us. We have the amazing Jenny Johnson, CEO of Franklin Templeton. I&#8217;m actually, Judson, not going to do her bio because listeners should just go back and listen to our previous episode. Yeah, if you want to know more about the bio, you need to start with the first episode. Yeah, no, seriously, go listen to it. It was amazing. Her story about where she has become, the CEO and whatnot.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But this episode, we&#8217;re actually going to just double-click a little bit more. We&#8217;ve taken off the jackets. We have rolled up the sleeves. We&#8217;re going to double-click a little bit more into her career and what she sees with the investment industry at large. So, it should be a fun one. Let&#8217;s go. Yeah.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">In thinking about how to start this episode, Jenny, I think when most corporations want to or need to have a transition at the top, they&#8217;d love to do so in a period of relative stability. Now, when you took over as CEO, there was already going to be some change because of a major acquisition that you guys were making. But you ended up taking over in February of 2020, which we all know about a month later, the world absolutely changed. So can you talk about how maybe some of that instability really formed your life as CEO and\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, no. So, I took over, I think February 11th. Five days later we announced the acquisition of Legg Mason, which we&#8217;d been working on for about a year. And you&#8217;re exactly right, because the board was a little bit nervous about changing the CEO role at the time. And then about three weeks later you had the pandemic, and as you guys may recall, initially it was a two-week flatten the curve, just stay home for two weeks.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I mean, I would say a couple things. One is because I ran technology, and we&#8217;re such a global company, really the Templeton world was sort of the first&#8211; John Templeton was sort of the first big international investor, that we had offices in over 30 countries. And when I ran technology, I was like, &#8220;We need to have desktop video.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Not just video conferencing, but desktop video, which seems so obvious now, but back then it was a separate device that sat on somebody&#8217;s&#8230; It was called a Tadbir device that cost $800. I remember that. And we had built a culture within the firm where people were at least used to video, somebody participating in a meeting via video. So, I think we were fortunate with that because suddenly a lot of companies had to learn how to do that.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And then the second thing was, of course, the market tanked, and got a lot of questions around, are you disappointed that you acquired Legg Mason when the markets tanked?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And our view was always this was the right strategic fit. By the way, asset managers rarely trade when the market&#8217;s down because they&#8217;re such good cash flowing businesses that people know that there&#8217;s going to be a value once the market returns. So, you rarely get to buy something cheaper when the market is down.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, we looked at it, we said, &#8220;Look, this is a great business.&#8221; We got Clarion Partners, which was our real estate manager &#8211; $80 billion real estate manager. We&#8217;ve got core fixed income, which was really important to us. And it doubled the size of the firm.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">They were 75% institutional. We&#8217;d been 75% on the wealth channel, so suddenly you brought a more balanced client base with 50\/50. So, none of those things changed just because we were now in the pandemic. And interestingly, we closed the deal- probably 60 days early. And I always say that I think you underestimate when you&#8217;re trying to coordinate everybody&#8217;s travel schedule to go meet with people.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">We were forced to do it online, which can be a challenge when you&#8217;re trying to pick best athletes from the two teams. But we seemed to be able to be almost more efficient because it forced us all to sort of do everything online. And obviously it&#8217;s turned out to be a very good acquisition for us.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, and y&#8217;all have not stopped for over six and a half years, and we&#8217;re going to talk through that, listeners. I mean, just lots of M&amp;A under your watch, especially in the private market sector. All that being said, I mean, the last six and a half years as you&#8217;ve continued this M&amp;A trajectory that you&#8217;ve been on, I mean, obviously there&#8217;s been tons of uncertainty and risk in the market.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I think that, like as business leaders, our clients, Judson and I as partners of this organization, we have to continue to move forward despite risk in the market. I&#8217;d love to hear from you, like, how do you view risk in this market versus reward? Like, how do you still say, &#8220;We&#8217;re going to keep putting one foot in front of the other and doing this despite the fact that we don&#8217;t necessarily know what&#8217;s around the next corner&#8221;?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah. So first of all, I think you have to try to identify big secular changes and differentiate those from just noise that happens to be kind of the immediate issue. So, if we look at big secular changes that I think are happening in our industry, number one, private markets are not going away.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The regulation that has happened to sort of reduce banks&#8217; ability to lend in the same way because the capital requirements of banks created a massive amount of private credit. Companies don&#8217;t want to be public as much as they used to be, and so huge opportunity in private markets. So one is that change is permanent, I think. I don&#8217;t think you&#8217;re going to see regulators suddenly say, &#8220;Let&#8217;s let banks have a higher capital ratio.&#8221; I don&#8217;t think that&#8217;s happening.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Number two, I think the fee-based trend, which is not just a U.S. trend, you really see it globally, came out of the 2008 financial crisis where the regulators really said, &#8220;We want more transparency around distribution, around the advice fee,&#8221; right?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And we&#8217;re big believers because if you actually look at portfolios where people have an advisor, they tend to do better because what happens to the individual is they panic when the market corrects, and that&#8217;s when they pull their money out, and then they buy high. Advisor is that calming effect.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And so, when the regulators came in and said, &#8220;We want more transparency,&#8221; it shifted from having distribution fees embedded in the products to being kind of externally and create a world of fee-based. So that changed things. That made a big shift from mutual funds to ETFs. So, you knew that was a secular change.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">\u00a0I think technology, the personalization component, this is the next move from ETFs, will be much more separately managed accounts that are prescriptive based on an individual&#8217;s desire. So, an advisor will talk to their clients and say, &#8220;Here&#8217;s your returns towards your goals,&#8221; right? &#8220;These are your goals. And oh, by the way, here&#8217;s the impact you&#8217;ve made,&#8221; because now there&#8217;s a lot more data that can say which companies are doing what. And people have personal passions and those passions can vary dramatically.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And you&#8217;ll be able to talk about it that way. And so, that personalization component was really, really important and it enabled technology. And then I think, finally, the two big trends that are more enablers, and we&#8217;ll see what it ultimately means for the industry, are AI and tokenization. And so, if you identify those and say, &#8220;How are we positioning the company for that?&#8221; It gives tremendous amount of clarity, and it allows you, when there&#8217;s a market correction or some sort of hiccup that happens, you to say, &#8220;That&#8217;s okay. We know we&#8217;re headed in the right direction. We&#8217;re going to manage this storm. We&#8217;re going to navigate it, but we know we&#8217;re in the right direction.&#8221;\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Hey, Jenny, for our listeners can you tell us what you mean by tokenization?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Sure. So, I think it&#8217;s really important to separate crypto from blockchain. Blockchain is an enabler of crypto. It is merely a technology language that does three things really well. Number one, it has a source of truth, and anybody who has run the back office of a financial services firm knows that we spend a ton of money reconciling data between systems.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I don&#8217;t want to get too technical on this, but if you look at the old technology systems, which all firms are still running, you do all your batch processing at night. You update the system at night, which means the data is delayed, right? And so, with blockchain, there&#8217;s only one source of truth, and you don&#8217;t have to reconcile it yourself.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You know exactly it is updated immediately when the transaction happens, and both you and the counterparty have the same source of truth. Because not only do we reconcile data between systems, we have to reconcile it with our counterparty. That completely goes away. That drives down a tremendous amount of inefficiency in the system.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The second thing it does, it has the ability to program smart contracts. So, what does that mean? Hunter, you and I agree we&#8217;re going to do this foreign exchange contract, and if the currency moves a certain amount, you&#8217;re going to have to pay me collateral. I have people who have to track that down, but if I can program into the transaction the rules that you and I agree on that transaction, then I don&#8217;t have to spend a lot of effort in being able to go and collect whatever our agreement is or pay you. It happens automatically. Again, creates efficiencies. Also, it will create tremendous innovation of the types of products that are coming out, and I&#8217;ll give you an example in a second.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And the third is it has a payment mechanism. I can pay you for the transaction. So those efficiencies are going to drive down costs, which means we&#8217;re going to be able to deliver more types of products for less, and we&#8217;re going to create more innovative products.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, Franklin has a tokenized money market fund, Benji. Why is that different from a traditional money market fund? We&#8217;re the only one natively on chain. So, if you own our traditional money market fund, you needed $500 to open an account because anything below that meant the other shareholders were subsidizing you because we were losing money on that, and that was absorbed by the other shareholders.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">\u00a0In the case of our tokenized money market fund, you could open an account with $20 because it&#8217;s so much more efficient for us to run it. Now, in the old types of traditional money market funds, you accrue your income throughout the month, but you get paid at the end of the month. In our tokenized money market fund, that cash goes into your account every day.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">In fact, we calculate the interest every second. And if you only owned it, let&#8217;s say you&#8217;re a hedge fund and you use it as collateral, and you own it for four hours, 22 minutes and 36 seconds, you actually are going to get paid that interest. Whereas in a traditional money market fund, you&#8217;d actually forego that interest because you wouldn&#8217;t have held it for a full day.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">You can do peer-to-peer transfers. I can pay my children in Benji. I don&#8217;t have to go back to the fund company, redeem it, and then go pay. So, there&#8217;s I think, interesting innovation that&#8217;s going to happen with tokenization. I think the way people should think about it is it offers cost efficiencies and processing transaction efficiencies that are going to create both innovations, and you&#8217;re going to get more interesting, personalized products at less cost.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, it&#8217;s interesting you talk about that because you have been for many years now. I heard you as early as five, six years ago talking about that. And listeners, if you think at first glance, you&#8217;re like, &#8220;Man, that sounds complex. I don&#8217;t know if that&#8217;s actually going to happen.&#8221; Let&#8217;s go back to what Jenny talked about on sort of the secular trends.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I mean, she talked about private markets, Judson, which we as a firm have been in now for three or four years. She talked about SMA, sort of personalized investing, with Canvas, which is a Franklin company, we have been in for a long time as well.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">She talked about the importance of an advisor. We&#8217;ve been in that for 40 years, right? I mean, at the time, these were all innovative things, but now they&#8217;re a part of the broader markets. And I think that&#8217;s super important because as we think about this next wave, whether it&#8217;s tokenization or something else, listeners, it is going to be important to say at first it might seem crazy, but that is in fact where the future is going.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, I want to just double-click on the innovation thing, but before I do, when you were talking about the advisory thing, it made me think actually of a quote by John Templeton. He said, &#8220;Technology may change the world, but it doesn&#8217;t change human nature,&#8221; right? And I think, like, again, it&#8217;s from one of the namesakes of the firm at this point but that is so true and I think that as we go through the risk and uncertainty over these next few years, that human nature is what is probably most impactful to a plan, which is why it&#8217;s super important to have that advisory piece.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But again, on the innovation, what&#8217;s interesting is you&#8217;ve been around for almost 80 years as a firm and the question I think for you as the leader of the firm, is how do you stay innovative without maybe losing where you guys became successful in the first place? Or maybe a part of that success was in fact innovation.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, well, I definitely think we&#8217;ve been, and we were very early one, in international investing, and we have local asset management in markets, whereas a lot of people take global products, sell them locally, but 80% of people tend to want to put money in their own market.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">We at one point were the third most recognized brand in India on LinkedIn. Like, in Korea, somebody inherited money, and they said, &#8220;Are you going to Franklin Templeton-ize it?&#8221; A verb in Korea. And that&#8217;s because we were early, right, into those markets. We were the first to create a government money market fund, Ginnie Mae fund. So, I think innovation&#8217;s been a part of it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I think the key is you have to have the right balance between delivering what needs to be delivered today and creating a little bit of a garden on the side, which is almost like an R&amp;D of the change makers within your organization who are the innovators. Allow them to try things. I actually have our head of innovation reporting to me because I want to kind of protect her and that group.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The work we&#8217;ve been doing on tokenization, we really started in 2018. It will not be material meaningful, maybe not even for another five years. That&#8217;s a long investment cycle. And you could imagine if you&#8217;re people in the firm, you&#8217;re like, &#8220;Why are they getting resources over here? They&#8217;re not generating any assets. We&#8217;re the ones generating assets.&#8221; But if you don&#8217;t have that right balance &#8211; and you can&#8217;t have too many of them, because you still need to grow the business today and support the clients today, but you need to have enough focus there and almost protect them.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I actually have found the number one issue if somebody runs technology is not the technology, it&#8217;s change management. People don&#8217;t want to change what they do. And so that innovative group tends to be the people who are more comfortable with change and they will often be looked at and almost the rest of the team who&#8217;s delivering the day-to-day stuff will be a little bit frustrated that they get those resources.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And then suddenly it starts to become really important. Like, we are now tokenizing our traditional assets and selling them on the big crypto exchanges. So, you could buy some of our ETFs on the top five crypto exchanges because they&#8217;re trying to figure out how to offer more traditional products, and it&#8217;s merely because the shareholder recordkeeping system is on chain.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I love that concept of, like, the entrepreneurial garden that you just mentioned. And it makes me think of two things. One, again, the entrepreneurial nature of the organization that you run, and then we talked at length about how entrepreneurial Cain Watters is. We&#8217;re always trying that next thing for clients, and that spirit, I think, helps keep that culture strong of the organization. So that&#8217;s the first thing.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The second thing, which maybe you could just very quickly talk about, is how that head of innovation is pulling resources and while she is reporting to you and you&#8217;re able to sort of advocate for her in front of the board or whatnot. The question I have is, like, that&#8217;s maybe a balance in the last episode we talked about between the, &#8220;Hey, I have to print earnings, but I also have to think about the future.&#8221; Is that where that balance comes in, areas like that?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah. And if you think about that, the expense on a group like that, that is not yet covering their own costs, is costing you money in cents per share, which is what we&#8217;re measured every quarter on. And so, you could imagine it&#8217;s easy. This is where I think being part of a family business that is still public is I actually think about delivering this business to the next generation and investing in it for that versus just, what are my quarterly earnings?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And you can see if I&#8217;m a CEO, and I&#8217;m not saying they necessarily do this, but you could see how it would be tempting. I got three more years on my tenure. Forget that tokenization stuff. That&#8217;s not on my watch. You could see how risk of some public companies not making those R&amp;D investments.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I mean, imagine if you were a drug company and you didn&#8217;t put money in your pipeline for new drugs, right? Your old drugs expire on their patent, and you have to be able to have that right balance of an investment which is costing you money to ensure that you&#8217;re positioned well for the future.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah. Thank you for that. It was fascinating and I think that explanation will help us tremendously. Going back to your four Ps, you can hear your passion. You can hear your passion about innovation. You can hear your passion about technology. As you look ahead, what other challenges do you see over the next five or seven years that people may not be thinking about? Can you think of anything?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, first of all, I think that let&#8217;s just look at AI. Right now, the winners of the AI investments have been really the picks and shovels, the chips, the cloud service providers&#8230; I mean, that&#8217;s a whole interesting thing in itself because suddenly companies like Google, which were capital light, are now capital-intensive businesses. So that trade is going to be interesting how it plays out.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But what I think is the next interesting wave on AI is I genuinely believe the companies who get it right in their sector are going to leave behind the others. It is moving so fast. It astonishes me the quality of which these AI models are evolving, and I think that it&#8217;s going to change every business. Every industry is going to be dramatically impacted by it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And if you ask me what kind of keeps me up at night, I&#8217;ll say it&#8217;s the two things. It&#8217;s cybersecurity, right? Because these tools also become advantages for the cyber side. It&#8217;s also cyber protection is going to be important, but also how you leverage it and continue to improve and evolve your business. So I think those are the two big categories. There&#8217;s a lot of other stuff that goes on, but I look at AI and I just want to make sure that we&#8217;re one of the winners in the industry that comes out ahead in that.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, to the members of your organization, like, how do you speak about AI to your other leaders? Like, &#8220;Hey, everybody&#8217;s going to have the data and can process the data very quickly.&#8221; It kind of goes back to our previous conversation about the linkage between all those dots. I mean, that has to be the way because AI&#8217;s going to change the world and make everything faster and more efficient, is that how you&#8217;re speaking about it to your other leaders about how Franklin can thrive?<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">It&#8217;s funny, I just had a call with my finance team and we were &#8211; I&#8217;d been asking to have this certain model built and one of the team members built this model leveraging an AI LLM. And kind of looked at it and I was like, &#8220;This is incredible.&#8221; And the CFO goes, &#8220;You know, it takes a lot of&#8230; it didn&#8217;t just generate on its own.&#8221; And I said, &#8220;Okay, I get it,&#8221; because I build these models. I play around. I force myself to do it. You have to have expertise, and you have to have curiosity. That&#8217;s the key to be curious. What can it do? And I think Ruth Porat said it really, really well, which is you&#8217;re not going to lose your job to AI, you&#8217;re going to lose it to somebody who&#8217;s better at using it than you.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And so, if you&#8217;re a person who isn&#8217;t curious and pushing yourself to play, even in your own personal life with these LLM models out there, you&#8217;re going to be left behind because you&#8217;re not going to be comfortable in knowing how to use them.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I&#8217;ll give you an example of it. My son is an analyst at one of our investment teams at ClearBridge and he told me that he was assigned to help figure out how to use prompts for the research analysts. And so, he said, &#8220;Mom, what do you think?&#8221; I said, &#8220;Oh, you have to go talk to the guy over in the Franklin Group. He&#8217;s a tech guy. He&#8217;s been passionate about this. He&#8217;s been on this for a while. Go ask him for some ideas.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Now, my son was four months into his job out of college, okay? So, he&#8217;s four months into his job. And the head of the AI on our investments side comes back to me. He goes, &#8220;I have to tell you, I was really impressed with your son&#8217;s prompts. These were really, really good. They were better than a lot of our traditional analyst&#8217;s team.&#8221; I was like, &#8220;Okay, let me ask.&#8221; So, I said, &#8220;What&#8217;d you do?&#8221; And he goes, &#8220;Oh, I just kept feeding it into ChatGPT and asking it to improve the prompts.&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">See, he had enough curiosity around it, and he also was insecure enough about his ability as a new analyst to be able to compete, that he was willing to push the models. And I think that that balance in the future is going to be some of the younger generation who, it worries me a little bit because they&#8217;re a bit anti-AI. You can&#8217;t be anti. New technology is like water running down a hill. It is going to get around every barrier, and it&#8217;s going to continue to find its way down. So, you need to embrace it and figure out how to leverage it and we need to be doing it responsibly, but you have to be able to adopt it.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, I think Ruth&#8217;s point of you&#8217;re going to lose a job to somebody who&#8217;s much more comfortable with it is a really good one. So, I talk about it that way, like what are we doing? How are we pushing ourselves? And there&#8217;s a lot of complexity. I think initially with technology, what people do is they make more efficient what you do today.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Hunter, it was your comment on Henry Ford saying people would ask for a faster horse. I can only imagine today, can I make this horse faster? But once you get the tools in people&#8217;s hands, they start to see the &#8220;what-ifs.&#8221; But the first phase is to get the tools in hand. So, your first measurement becomes &#8220;how many people are using it?&#8221; And then your next measurement becomes &#8220;how many agents are we creating?&#8221;<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But those aren&#8217;t great outcomes. What you then want to be able to measure is what&#8217;s the actual impact on the business. But you first go freely with the first two to get the tools in people&#8217;s hands so they&#8217;re not afraid of them. But ultimately you have to start to change what your measurements are.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, I think it&#8217;s interesting and to sort of bring this back to our listeners and we talk to our clients about this, obviously they&#8217;re small business owners, but just like your business, which is obviously much, much larger, they need to leverage AI in every way that they can, even though it looks differently than the way we&#8217;re leveraging AI and the way you&#8217;re leveraging AI.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">But that&#8217;s so we don&#8217;t get left behind. I was also thinking about as you were talking, it&#8217;s sort of why our business partners with yours, right? Is because we know that you&#8217;re leading in these areas and that&#8217;s a really good lesson for our clients because they partner with businesses and vendors that are doing the same thing in their certain segment. So, this runs across the gamut of every business, every individual, every person. If not, we&#8217;ll all get left behind.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah. It&#8217;s definitely about the relationships and partnerships and certainly Jenny and her entire organization have been key to us over these years. And I think that maybe the best way to wrap this, Judson, I mean, we&#8217;ve talked about legacy, we&#8217;ve talked about Jenny&#8217;s amazing storytelling. We&#8217;ve talked about trends coming, whatever else it is. And Jenny, I&#8217;d love to wrap our two episodes together, maybe with going back to your four Ps and picking one and asking you personally, if you don&#8217;t mind, which is purpose.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">At some point you&#8217;re going to wrap your career. We&#8217;ve talked about maybe a fourth gen, maybe not. What is your purpose? Like, I would love to hear that, if you don&#8217;t mind sharing, like where you find your purpose as you think about transitioning what your grandfather started, what your dad took to the next level, and what you and your brother have continued to as well. If you don&#8217;t mind, we&#8217;d love to hear that.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">I kind of mentioned it, like I love what we all do. Like we are all helping people. You talk to somebody who hasn&#8217;t planned for retirement and they&#8217;re afraid they might lose their house because they&#8217;re not going to have enough, like that&#8217;s genuine fear.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So, if you can get&#8230; And look, you guys know this. The number one most important investment decision you can make is actually to start to invest, right? And I share the story. You can do the spreadsheet yourself. The person who puts $5,000 away a year from age 20 through 29 will have more money over those 10 years of putting that money away and letting it compound till they&#8217;re 60 years old than a person who starts at age 30 and saves for 30 years till they&#8217;re 59. Like that is the power of compounding.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And so, getting people educated to know the first and most important decision is to get in the market I think will make a huge difference on whether people can sit there at the end and say, &#8220;Shoot, I know that I will have enough,&#8221; and I feel the comfort of that.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And then the second part of that purpose is, what we do with that fuels innovation that improves people&#8217;s lifestyle. Look at the standard of living that we all have, the improvements in health. I mean, think about the pandemic and how quickly we were able to come up with essentially the vaccine.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">It&#8217;s incredible, and those are innovations that happened and were funded by the public and private markets, but individuals&#8217; capital is what funded that innovation and improved what could have been a really scary world pandemic. Was still scary, but actually you had a vaccine that quickly.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">So that&#8217;s what fires me up every day. I love what I do. I only should be in this job as long as I wake up every day and feel that excited about being in this job. The moment I don&#8217;t feel excited about it, I&#8217;m the wrong CEO, and I have to know when to kind of relinquish those reins.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Good news is today, I feel like I&#8217;m just getting started. So that fires me up, but I also think that part of my job is to ensure that when I transition out of being a CEO, that I make sure that there&#8217;s the right leader behind me, and that&#8217;s what makes a sustainable business, and I think a CEO has to think about that. But good news is I literally feel like I&#8217;m just getting started, so I guess got tons more to do.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, it was amazing being able to talk to you today. We are appreciative of you taking all this time. And I think that I can say not only for Hunter and myself, but for our listeners we all learned a ton.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Yeah, I told you listeners that you would be impressed as we have been over the years. So, thank you, Jenny. An amazing two conversations with you. We really appreciate it.\u00a0<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Well, Hunter and Judson, this was a lot of fun, and I appreciate you guys. I was honored that you asked me, so thank you.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">And I think folks, as you listen to that wrap-up from Jenny about her purpose, like, that is our purpose here at Cain Watters. It is to bring financial success and freedom to each and every one of you. That&#8217;s why Darrell started the firm in 1984. That&#8217;s why Judson and I are still here. So, it&#8217;s fun to hear Jenny say that because at the end of the day, Judson, that&#8217;s our purpose as well. Same.<\/span><span data-ccp-props=\"{&quot;335559739&quot;:360}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">All right, well, the best way to keep up with us is to subscribe to this podcast. That way, you never have to miss an episode, and you can go back to listen to all the others. If you&#8217;re enjoying it so far, leave us a review. Have a question, comment, or suggestion for a future episode? Drop us a line at cainwatters.com\/wealth. We really do answer these, and we want to hear from you. And if you want to learn more about what we do when we&#8217;re not recording these episodes, visit cainwatters.com to see how we&#8217;re helping almost 4,000 clients reach their long-term financial goals.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-1062\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-1062\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Timestamps <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-up\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M240.971 130.524l194.343 194.343c9.373 9.373 9.373 24.569 0 33.941l-22.667 22.667c-9.357 9.357-24.522 9.375-33.901.04L224 227.495 69.255 381.516c-9.379 9.335-24.544 9.317-33.901-.04l-22.667-22.667c-9.373-9.373-9.373-24.569 0-33.941L207.03 130.525c9.372-9.373 24.568-9.373 33.941-.001z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-chevron-down\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M207.029 381.476L12.686 187.132c-9.373-9.373-9.373-24.569 0-33.941l22.667-22.667c9.357-9.357 24.522-9.375 33.901-.04L224 284.505l154.745-154.021c9.379-9.335 24.544-9.317 33.901.04l22.667 22.667c9.373 9.373 9.373 24.569 0 33.941L240.971 381.476c-9.373 9.372-24.569 9.372-33.942 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div class=\"has_ae_slider elementor-element elementor-element-1d4eecd5 e-con-full e-flex ae-bg-gallery-type-default e-con e-child\" role=\"region\" aria-labelledby=\"e-n-accordion-item-1062\" data-id=\"1d4eecd5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-313bdb51 elementor-widget elementor-widget-text-editor\" data-id=\"313bdb51\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><b><span data-contrast=\"none\">00:00<\/span><\/b><span data-contrast=\"none\"> &#8211; Welcome and Setup<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">01:21<\/span><\/b><span data-contrast=\"none\"> &#8211; CEO Transition During Crisis<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:279}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">04:34<\/span><\/b><span data-contrast=\"none\"> &#8211; Risk and Secular Trends<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">07:58<\/span><\/b><span data-contrast=\"none\"> &#8211; Tokenization Explained<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">12:48<\/span><\/b><span data-contrast=\"none\"> &#8211; Staying Innovative<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">17:38<\/span><\/b><span data-contrast=\"none\"> &#8211; AI and Cybersecurity<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">18:56<\/span><\/b><span data-contrast=\"none\"> &#8211; Embracing AI at Work<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">23:36<\/span><\/b><span data-contrast=\"none\"> &#8211; Purpose and Compounding<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"none\">26:28<\/span><\/b><span data-contrast=\"none\"> &#8211; Closing<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"has_ae_slider elementor-element elementor-element-31fc51c4 e-flex e-con-boxed ae-bg-gallery-type-default e-con e-parent\" data-id=\"31fc51c4\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3417bb1a elementor-widget elementor-widget-text-editor\" data-id=\"3417bb1a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Have questions or ideas for Hunter and Judson? Reach out at\u00a0<a style=\"background-color: #00295b;\" href=\"https:\/\/www.cainwatters.com\/wealthpodcast\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: bold; line-height: inherit;\"><span style=\"text-decoration-line: underline; color: #33cccc;\">cainwatters.com\/wealth<\/span><\/span><\/a>. Don\u2019t miss an episode, subscribe and leave the guys a review on Apple Podcast, Spotify, or wherever you listen.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>How leaders can innovate while staying true to core principles. In this episode of the Accumulating Wealth podcast, Judson Crawford and Hunter Satterfield continue their conversation with Jenny Johnson, CEO of Franklin Templeton. They focus on how financial industry leaders can navigate risks, embrace innovation, and maintain the foundational principles that led to their success. [&hellip;]<\/p>\n","protected":false},"author":56,"featured_media":12848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_ppma_block_editor_authors":""},"categories":[44,41],"tags":[],"ppma_author":[172],"class_list":["post-12847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-podcast","category-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Leadership Odyssey: Part 2 - Ep. 308<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cainwatters.com\/digitalblogs\/wealth-podcast-ep-308\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Leadership Odyssey: Part 2 - Ep. 308\" \/>\n<meta property=\"og:description\" content=\"How leaders can innovate while staying true to core principles. 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