David O’Leary, CFA

🇨🇦 Founder @KindWealth_ca | Advice-Only Family Office | Father. Former boxer. Fighting for social & economic justice | Writes about money, meaning & impact.

[David O’Leary, CFA @DavidPOLeary]

A surprising fact:

Many of the wealthiest people/families working with high paid professionals (accountants, lawyers, etc) still do not have a financial plan & aren’t optimizing their wealth.

Why? Because …

[David O’Leary, CFA @DavidPOLeary]

I often talk about the distinction between investment management and financial planning and how financial planning is more valuable than investment management (which is increasingly becoming a commodity).

If you're shopping around for financial advice, be careful ...

[David O’Leary, CFA @DavidPOLeary]

The term financial advice muddies the water b/t investment advice & financial planning. These fields have entirely different bodies of knowledge & proficiency requirements.

Sadly most advisors don't provide financial planning even though that's what most people desperately need.

[David O’Leary, CFA @DavidPOLeary]

Thanks, @seremony, for including my thoughts (along with those of Jeff Baikowitz of @motherfoodintl) in this fantastic overview of Child Lens Investing in the Financial Times!

Late capitalism has morphed into a hideous caricature ...

https://t.co/20uivxT3CV

[David O’Leary, CFA @DavidPOLeary]

I wish more people understood that when it comes to financial success, financial planning > investment management.

[David O’Leary, CFA @DavidPOLeary]

Spoiler alert:

Trading in the markets is the most competitive game there is. Most institutional money managers (with the smartest minds working on it full time) can’t beat the markets.

So no, your financial advisor John from Burlington won’t beat the markets either.

[David O’Leary, CFA @DavidPOLeary]

100%. Men need a healthier definition of masculinity that frees us from these barbaric notions that men aren’t supposed to cry, need help, or show emotions.

[David O’Leary, CFA @DavidPOLeary]

@grok @_solidBA_ @goodthink1984 @SpaceflightNow And on average, how many rockets explode on a scale anywhere near this in any given year?

[David O’Leary, CFA @DavidPOLeary]

@grok @_solidBA_ @goodthink1984 @SpaceflightNow And how many cars are on the road in the average year in the United States? What would the total carbon emissions reduction be in a year if they were all electric?

[David O’Leary, CFA @DavidPOLeary]

Help me keep this Impact Investing in Canada infographic up to date.

Click the link below to submit any other organizations or investment opportunities I'm missing.

https://t.co/n5wQK4lE8N

[David O’Leary, CFA @DavidPOLeary]

There is a lot of debate among impact investors about where our capital is best allocated to make the biggest impact.

If you had to pick just one area, investing in the well-being of children might be it.

🧵Here are 3 examples of child lens investing & why it's so impactful:

[David O’Leary, CFA @DavidPOLeary]

Spoiler alert:

Trading in the markets is the most competitive game there is. Most institutional money managers (with the smartest minds working on it full-time) can’t beat the markets.

So no, your financial advisor John from Burlington won’t beat the markets either.

[David O’Leary, CFA @DavidPOLeary]

Pfff. Rookies.

In Canada, back in mid 2000, Nortel Networks grew so fast it made up about 35% of the entire TSE 300 (now the S&P/TSX Composite). Its contribution to the index’s 12-month return was bigger than the other 299 companies combined.

🧵 ...

[David O’Leary, CFA @DavidPOLeary]

Repeat after me:

"I will not buy a mutual fund or ETF just because it has ESG or SRI in the name."

If you care about the impact of your investments, you'll have to do some digging to separate the high-priced garbage from the legitimate ones.

[David O’Leary, CFA @DavidPOLeary]

One thing no one prepares you for after losing a parent is the constant guilt you feel for not spending more time with the parent who is still living. 😥

[David O’Leary, CFA @DavidPOLeary]

If AI ever becomes self-aware and adversarial, it won’t need to make cybernetic organisms to fight us (a la Terminator).

It will psychologically profile us at scale and manipulate the most susceptible among us to carry out its attack against humanity.

We won't stand a chance.

[David O’Leary, CFA @DavidPOLeary]

"We do not inherit the earth from our ancestors; we borrow it from our children." (Indigenous wisdom, author unknown)

[Marco Foster @MarcoFoster_]

Harrison Ford: “Humanity is a part of nature, not above it. We need cultural change. We need to extend social justice. We need to respect and elevate the indigenous people that are being marginalized, and in many cases, killed in cold blood. The world you’re stepping into, the world my generation left you, is a real mess”

[David O’Leary, CFA @DavidPOLeary]

🧵 In my work with wealthy families, I’ve seen how the topic of a pre-nup (or marriage contract) can stir up fear, guilt, and discomfort.

But here's the thing:

A marriage contract, when approached with intention, might just be one of the most loving things a couple can do. ⬇️

[David O’Leary, CFA @DavidPOLeary]

Have you ever wondered what a Family Office is?

If so, you’re not alone. The term seems to be all the rage these days and is often misused. That's because it sounds cool but is a nebulous term lacking clear defining criteria.

🧵But here are some general criteria:

[David O’Leary, CFA @DavidPOLeary]

This reminds me of my high school football days hearing guys say they clocked a sub-4.4-second 40-yard dash.

Measuring your personal stock-picking performance is like timing your 40-yard dash by counting in your head while you run.

[David O’Leary, CFA @DavidPOLeary]

I was compiling data on @kindwealth_ca's marketing, and I realized I've had over 400 calls with prospects since we started.

Here are 8 lessons I've learned about selling financial advice ...