On Zephyr’s Adjusted for Risk podcast, host Ryan welcomes Alex Graf, consultant and co-founder at Modelist, to discuss how Modelist blends OCIO/TAMP-style investment support with a focus on helping advisors build a custom investment “story” without sacrificing their brand. Graf explains Modelist’s asset-allocation, rules-based approach and key trends advisors request, including tax overlays, liquid alternatives like covered call and buffered ETFs, real assets, and direct indexing for tax-aware customization. They cover using buffered/covered call strategies within portfolios, manager pedigree and liquidity considerations, and the risk of NAV/market-price divergence. Graf describes “two layers of the same model,” using ETFs for smaller accounts and direct indexes for higher-net-worth clients, and argues the “holy grail” is an integrated engine combining models with direct indexing. They also discuss AI as a tailwind for independent advisors.
Zephyr can help financial advisors create modern diversified portfolios here.
Learn more about Modelist here.
00:00 Show Kickoff
01:13 Meet Alex Graf
01:46 Modelist Origin Story
03:58 Advisor Brand Matters
07:29 Big Ten Banter
11:10 Model Portfolio Trends
15:00 Buffered ETFs Explained
20:22 Drawdowns and Liquidity
23:29 Two Layer Model Setup
27:15 Scaling Without Compromise
31:05 Holy Grail Investment Stack
34:51 AI and Independent Advisors
37:48 Wrap Up and Where to Find Modelist
