I started this week in San Franciso as part of the Tiburon CEO Summit.

It's always great to be back in the Bay Area, and despite all the advancements in so many other parts of the world, little can touch the energy and momentum of this place.

This week, I’m focused on the impact of mission.

Here’s this week’s Connected Advisor.

1. Mission Matters: Why Embracing a Purpose Bigger Than Ourselves Is the Way Forward

2. How AlphaCore Leverages Alts 🎧

3. Bookmarks

   1. How LifeYield Has Created Lasting Impact in a Complex Industry with Jack Sharry and Matt Nollman

   2. How Union Square Ventures is Using AI

4. Milemarker On the Road ✈️

Let’s go.

Mission Matters: Why Embracing a Purpose Bigger Than Ourselves Is the Way Forward

There’s a quiet power in the business world that often goes unnoticed—a force that separates the good from the great, the transient from the timeless. It’s not capital, technology, or even talent. It’s mission.

Take Shopify, for instance. What started as a simple idea to sell snowboards online transformed into a global platform empowering millions of entrepreneurs.

Why?

Because Shopify wasn’t just about e-commerce; it was about making commerce better for everyone. Their mission wasn’t confined to their bottom line; it was about enabling others to achieve their dreams.

Companies with a clear, compelling mission don’t just compete—they win. And their victories are more profound than market share or quarterly earnings. They’re about making a tangible difference in people’s lives, reshaping industries, and challenging the status quo.

But here’s the kicker: pursuing a mission bigger than ourselves isn’t just good for business; it’s good for the soul.

I want you to notice one really interesting thing with the video I posted above.

On YouTube, you can stop and see the most replayed part of a video by hovering on the progress line.

For this particular video, that happens at the 7-minute and 28-second mark.

Take a second to watch this section. Notice the impact of the mission and its connection to Tobi Lutke's mission.

As Tobi Lutke says: "We don't want to be written into your stories. We just want to push it from behind".

This is fundamentally way bigger than Shopify. It's about the people who use Shopify to build the lives and opportunities they want.

It’s life-giving and fulfilling in ways that chasing profits alone can never match. When our work aligns with a greater purpose, every challenge becomes a stepping stone, every setback a lesson, and every success a shared triumph.

So why aren’t more of us embracing mission in what we do?

Perhaps it’s because articulating a mission feels lofty or out of reach. But it doesn’t have to be.

Start by asking: What impact do we want to have? How can we make a difference beyond our products or services?

Once you’ve nailed down your mission, make sure everyone else gets it too.

Your team should not only understand it but be able to shout it from the rooftops.

Your customers should feel it in every interaction, seeing how it adds value to their lives.

Your community should recognize the positive changes you’re bringing about.

This isn’t just corporate fluff. It’s about creating a ripple effect that starts within your organization and extends outward, touching every facet of your craft and community.

In the end, living and working with a mission isn’t just a strategy—it’s a better way to live. It’s about being part of something larger than ourselves, something that outlasts and outshines the daily grind. So let’s embrace mission, not just because it’s good for business, but because it’s good for us.

Let’s make our mark, not just in the markets but in the hearts and minds of those we serve.

What’s your mission?

________________________

On the Pod: How AlphaCore Leverages Alternatives

Episode 066: Traditional wealth management often focuses on stocks and bonds, potentially leaving investors vulnerable during market downturns. AlphaCore believes there's a better way. By marrying alternative investments and traditional asset classes, advisors can bridge the gap between traditional wealth planning and the world of alternatives. Breaking down barriers to alternative investments allows investors to diversify and build more resilient portfolios, enhance returns, and mitigate risks.

In this episode, Kyle Van Pelt talks with Dick Pfister, CEO and Founder of AlphaCore Wealth Advisory. Dick has more than 25 years of experience in diversifying traditional portfolios with alternative strategies.

Kyle and Dick talk about alternative investments and how AlphaCore democratizes access to these strategies. Dick also discusses the categories of alternative investments, the role of education in driving accessibility and adoption, upcoming trends in wealth management, and the importance of technology and artificial intelligence in the development of the industry.

In this episode:

[02:04] - Dick's money moment

[06:39] - AlphaCore's mission

[10:35] - The categories of alternative investments

[13:45] - AlphaCore's organic growth strategies

[16:37] - Business development and team structure

[20:43] - Prioritizing culture fit during acquisitions

[24:20] - Technology's role in scaling businesses

[26:59] - Future trends in wealth management

[29:29] - Future trends for alternative investments

[31:26] - Dick’s Milemarker Minute

Key Takeaways

1. AlphaCore aims to democratize access to alternative investments to enable retail investors to build diversified and more resilient portfolios.

2. Alternative investment adoption in retail wealth management is still in the early stages. Education for both advisors and clients is crucial for broader acceptance.

3. The future of wealth management will likely see alternative investment become mainstream, and artificial intelligence will play a crucial role in their adoption.

Listen to Episode

⚡️Bookmarks

How LifeYield Has Created Lasting Impact in a Complex Industry with Jack Sharry and Matt Nollman

This past week I rolled out my new podcast, "The Rising Tide."

There is no other person or team I'd rather bring on for the inaugural episode than my friends Jack Sharry and Matt Nollman from LifeYield.

I will have more episodes released in the coming weeks. Please feel free to subscribe and get new episodes wherever you hear podcasts.

How Union Square Ventures is Using AI

I found this episode truly fascinating as Union Square Ventures is integrating more and more solutions using AI to power their research, power the way that they serve their portfolio companies, and to fundamentally shift how they run their business.

I'm confident that you can find some interesting nuggets in this episode to apply to your business as well.

Milemarker on the Road

Catch our team on the road at the following events or cities:

1. November 4 - New York, NY

2. November 6-7 - Jacksonville, FL

3. November 11-12 - Charleston, SC

4. November 12-13 - San Diego, CA

5. November 12-15 - Arlington, TX

6. November 14 - Charlotte, NC

7. November 18-20 - San Francisco, CA

8. November 21-22 - Omaha, NE

9. December 4-5 - New York, NY

10. December 9-11 - Las Vegas, NV

If you’re in any of those cities and want to arrange a meeting time, reply to this email, and we’ll get something on the calendar.

Jud Mackrill