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Today\u2019s guest today is Patrick Geddes, founder and former CEO of Aperio Group, a leader in the direct indexing space with $42b in AUM when it was acquired by BlackRock for over $1b.\nIn today\u2019s episode, we kick it off with hearing back Patrick\u2019s days at Morningstar as the Director of Quantitative Research & CFO. Then Patrick shares what led him to start a firm focused on direct indexing and customization over 20 years ago. We talk about why the Great Financial Crisis was an inflection point for direct indexing and why there\u2019s been so much M&A in the space over the last couple of years.\nThen we talk about his book, Transparent Investing.\xa0We talk about consumer advocacy, the importance of taxes & fees, and ways to counteract some of the behavioral biases we all have.\n-----\nFollow Meb on Twitter, LinkedIn and YouTube\nFor detailed show notes, click here\nTo learn more about our funds and follow us, subscribe to our\xa0mailing list\xa0or visit us at cambriainvestments.com\n-----\nSponsor: Today's episode is sponsored by\xa0The Active Share\xa0podcast. If you\u2019re seeking the less obvious and are curious about the ever-changing world and how it affects investing,\xa0The Active Share\xa0podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management\u2019s own analysts and portfolio managers as they share unique perspectives on investing in a world that\u2019s always evolving.\xa0Listen to\xa0The Active Share\xa0on\xa0Apple Podcasts,\xa0Google Podcasts,\xa0Stitcher,\xa0Spotify\xa0or\xa0TuneIn\xa0or visit\xa0here.\nLearn more about your ad choices. Visit megaphone.fm/adchoices