[00:00:00] Jim: Pacific Life and Academy Securities.

[00:00:05] Spencer: The Academy is a veteran owned investment bank and asset manager.

[00:00:09] Jim: Moving from military service to civilian life.

[00:00:12] Spencer: You put a lot into military service, but frankly, in our nation, you get even more out of it.

[00:00:17] Jim: And the story of a pilot.

[00:00:19] Spencer: But it was my honor to fly and fight the venerable SH- 60 Bravo Seahawk in multiple deployments.

[00:00:26] Spencer: All this and more on today's episode of The Wave Strength.

[00:00:34] The Wave Strength: Welcome to The Wave Strength. Innovative solutions for a secure retirement presented by Pacific Life.

[00:00:44] Jim: Hello everyone, and welcome to another exciting episode of The Wave Strength podcast series. I'm your host, Jim Breen, head of marketing with Pacific Life's Institutional team. We're excited to be here live in the studio today with two very important guests.

[00:00:58] Jim: We have Lance Doherty and Spencer Wilcox, gentlemen. Thank you so much for joining us.

[00:01:02] Spencer: Jim, thanks for having us.

[00:01:03] Lance: Thank you for having us.

[00:01:04] Jim: Absolutely. We'll start Spencer with you, Spencer. You, bring a very distinguished history to the table today, a retired Naval pilot. Thank you so much for your service.

[00:01:17] Jim: We were talking about earlier, in the service you flew the, Seahawk helicopter in the Navy. So I'm sure you have many wonderful stories.

[00:01:26] Spencer: Correct, yeah. Thank you, Jim, for having us. We're excited to be here.

[00:01:28] Jim: Absolutely, thanks so much for joining the conversation and also joining us Lance Doherty from our Global Institutional Investment Group on the capital markets, spread lending side, Lance, thank you so much for being with us today.

[00:01:41] Lance: Thank you for having me, Jim.

[00:01:42] Jim: Absolutely. This opportunity today actually came from a conversation that you and I and Ron Canent had about a year ago, Lance, where you were, had just attended the GPFA conference in 2023. And you said, Jim, wow, what an opportunity.

[00:01:59] Jim: This is a phenomenal group. We'd love to host their 2024 event. And here we are a year later with this fantastic lineup of folks in the industry. And we've been able to accomplish several podcasts on this being one of them. So excited to sit down and talk to one of the attendees of the event. Spencer as a member of Academy Securities.

[00:02:23] Jim: We're very interested to learn more about the great work that you're doing. Also not just from a business standpoint, but the great work that you do from a veteran affairs standpoint and, taking care of our vets as they come out from the military into civilian life. And so we'll get to that in a moment.

[00:02:40] Jim: But gentlemen, thank you for joining us. Lance, perhaps you can set the stage a little bit. As to the why are we hosting GPFA and maybe unpack a little bit about the reasoning and also too the inclusion of these great groups such as Academy Securities.

[00:02:58] Lance: Absolutely, thank you, Jim, again, we decided to become members of the GPFA over four years ago. We found the, that it's a grassroots organization. It has no sponsorships, so everybody that attends is on the buy side, whether they're an asset manager, a pension fund, or ourselves Pacific Life, we are able to get behind closed doors, all of us and talk about our problems, our solutions.

[00:03:25] Lance: And move forward as a group. We have found this to be the most beneficial, peer to peer grouping that we do and the, just the relationships we get out of it. Now, because of us being the host this year, we decided to bring in Academy Securities to be our keynote speakers, specifically on geopolitical risk.

[00:03:51] Jim: What a phenomenal panel that was. It was nothing short of amazing.

[00:03:55] Lance: It was, unfortunately we only had them talk for an hour and a half, I think most people there would have wanted to hear another two and a half hours. Quite honestly. And if you saw the line-up of people talking to the generals afterwards that was a very, exciting conversation.

[00:04:12] Jim: Yeah, now pivoting to Academy Securities Spencer, perhaps you can for our audience. It may not be familiar with your group. Explain a little bit about what you do. Maybe walk us through the history and bring us to where you are now.

[00:04:25] Spencer: Yeah, Jim. Thanks. And Lance, thanks for the kind words and for hosting us here.

[00:04:29] Spencer: It was a real honor and definitely a pleasure. So Academy is a veteran owned investment bank and asset manager. Our social mission is clearly articulated, it's to provide opportunities mentor, hire, and train veterans for careers in financial services. So we're about 160 people, about half of us are veterans.

[00:04:48] Spencer: And it's really about an opportunity for transitioning veterans who are worthy and talented to find an opportunity to excel in their career post service to the nation as they transition, which can be a real challenge. And then as Lance mentioned, our core calling card and capability is really our geopolitical intelligence group.

[00:05:05] Spencer: 30 retired admirals and generals who are subject matter experts at helping our clients and partners evaluate the geostrategic risk landscape, oftentimes with a market read through. We see oftentimes the headlines that can drive price action in the market. It's relevant, but it's really hard to harness.

[00:05:21] Spencer: So we, we like to think of ourselves as contributing to the thought process of our clients, like you all saw today. And bringing something a little bit unique and differentiated from the broker dealer and asset management community of the table in terms of a resource. We were honored to be here today.

[00:05:36] Spencer: I thought it was a great session as well. So thanks.

[00:05:38] Jim: Absolutely. And for the, military enthusiasts that are joining the show, maybe share a little bit, I put you on the spot here, Spencer, share a little bit about your career in the military. You were sharing some stories and some of the amazing work that you, contributed during your time in the Navy.

[00:05:54] Spencer: Thank you very much. Not unlike about 70 of my colleagues I, raised my hand to serve. It was an honor. The way I describe it is you put a lot into military service. But frankly, in our nation, you get even more out of it, and I'm definitely an example of that. But it was my honor to fly and fight the venerable SH-60 Bravo Seahawk, and multiple deployments, an opportunity to serve in Afghanistan with a Special Forces staff, and then ultimately make a transition.

[00:06:22] Spencer: And I went to the Naval Academy, and I had an opportunity to go to business school on the GI Bill, Jim, like we talked about. And I was equipped through those experiences and through my service as a leader in the Navy to find a role in financial services and very grateful for that. Not everybody in the military has that pedigree and that same opportunity, yet bring a lot of the experience and talent work ethic and sense of service that we all value in our organizations.

[00:06:50] Spencer: So I, my experience wasn't necessarily unique. Some of my opportunity sets were, but we really look to harness that, that undervalued resource and pool of talent that we can all bring into our organizations to make ourselves better as a team. I think frankly, we're honored to share that mission with Pacific Life.

[00:07:07] Spencer: And the door has been opened here for an opportunity to partner and further fulfill and execute that social mission that we're both committed to as organizations.

[00:07:17] Jim: It's so important and we need more of that. My father was in the Navy, was in Pensacola and after his time in the Navy he flew for a little bit and, he ended up on a minesweeper here on the West coast.

[00:07:29] Jim: And because of those folks that had processes in place, he was able to find a great role within the federal government and just we need more of that. We need those folks. Those godfathers, so to speak, that could be looking out for folks that are transitioning from the military to civilian life.

[00:07:47] Jim: And so good on you and Academy Securities for the work that you're all doing. Perhaps you can talk a little bit about that relationship now that fast forward to where we are now with Spencer and General Mike Groen and others that have brought this relationship to the table and Lance perhaps you can start that conversation about why Pacific Life sees this as a great, partnership opportunity.

[00:08:11] Lance: Absolutely, thank you, Jim. As our division was formed over five years ago and started in January 1st 2020. We at that time knew it was very important to team up with specific partners and to get the right partners to share our message and the message that we wanted to let everybody out there know.

[00:08:31] Lance: It's been a journey for us, and a learning journey. But we did find Academy Securities. And they have been a terrific partner. There is a large benefit. Of teaming up with Academy Securities. They do have a niche with the geopolitical that no other of our broker dealers or partners, can supply us.

[00:08:56] Lance: And it has been just a very, fruitful relationship between us.

[00:09:01] Jim: Fantastic. And maybe you could talk a little bit about looking at the role you have as Managing Director at Academy Securities, Spencer walk us through your day to day. I understand you're helping those vets find their place after military service.

[00:09:19] Jim: What's beyond that? So if, maybe a vet decides that they want to stay and they feel that finance is in their blood, What does that look like for them?

[00:09:27] Spencer: Yeah. First of all, on the day to day side Lance is a great example of a champion for our firm. And again, it was never about a handout.

[00:09:36] Spencer: It was an open door to compete with an opportunity. We've got to be able to block and tackle in this business. You have to be able to execute. You have to be able to compete. You have to be able to provide ideas, liquidity. And so that, that's a given. And I think there's an added benefit be given the geopolitical intelligence group.

[00:09:54] Spencer: But our team consists of a balance of industry experts and transitioning veterans. So our day to day is about putting those teams to work in service to our clients like Pacific Life. Envision someone who comes out of the service, the Marine Corps, the Air Force, the Navy, the Army looking for an opportunity.

[00:10:13] Spencer: They come with a sense of teamwork and service. These are skill sets that are going to transfer very well and are innate. We're training the rest every day on the desk. When we have an opportunity to serve in underwriting for Pacific Life or trade Pacific Life's commercial paper our team is servicing that and they're also using that as an opportunity to mentor these veterans who are learning on the job And they're building career equity as they go and that you know that shared mission with Pacific Life helps us put that to work every day.

[00:10:43] Spencer: So we're performing we're executing but we're also helping to bring the next generation of talented people into leadership roles so that we can build that legacy of our firm around our mission. And again, that's thanks that we couldn't do that without an open door from Pacific Life.

[00:11:00] Spencer: This isn't about a handout. It really is about finding opportunities to partner with firms that deliver differentiated value. And I think Academy and your other D& I partners very much represent that. And I should say Pacific Life was very fulsome in their diligence. They scrutinized the space and they found firms that could deliver across the board, both in terms of the authenticity of the mission, meaning, "Hey, these are firms who are who they say they are.

[00:11:26] Spencer: Academies not just flying the flag." We, really live it in our rank and file as a better known firm. And someone who can deliver the capabilities that are required to compete in the space.

[00:11:36] Jim: Yeah, and Lance, I know we've talked about this for a long time. You Ron, and of course, Joe Krum you, all do such great work. You're, very careful and calculated in the way in which you're growing this unique part of Pacific Life's business. And as you mentioned though, the Institutional team is only five years old. This is something that isn't necessarily new to Pacific Life. It's something you have been doing but very, specific in the, in your approach.

[00:12:05] Lance: Pacific Life has always lived and bread D&I. Yeah, it's just, we brought it specifically to the Institutional division on bringing D and I dealers, the Academy being one of the three. And finally as, Spencer said, this was not a gift. We didn't just give them, they earned it. And they have earned the partnership and there is a reason why that partnership is so strong and we continue to work with them.

[00:12:30] Jim: Yeah, the partnership, these partnerships that we're forging across the Institutional space and across Pacific Life are always so important, and also to connecting to the communities in which we do business. I think that's a core element. It's in our DNA at Pacific Life, something, when we look at the communities in which we do business making sure that we're a part. We're supporting and we're really doing our best to connect in ways, finding new ways in which we can give back to our communities and also in this case, work with partners that can help move towards a common goal.

[00:13:04] Lance: And partners that are giving back to, not just the community, but the society.

[00:13:09] Jim: Yeah, because I know, obviously Academy Securities, as you've mentioned, Spencer is doing a lot in the communities that, that you work in located down in San Diego very much a military community. I'm sure there are a lot of opportunities for you to give back and, your communities down there.

[00:13:26] Spencer: And a lot of opportunities to recruit worthy and talented people that are looking for meaning in the next chapter of their life, being part of a team that's a challenge that a lot of veterans faces there. They're coming from a mission-driven organization and occupation. How do they find that purpose?

[00:13:43] Spencer: And when we attract veteran talent to our platform they understand that when we do a good job together as a team, we are going to have an opportunity to bring another veteran into the fold. To help compete and win business, serve clients. And it's very exciting to be able to do that.

[00:13:58] Spencer: And again, I can't say it enough, but we don't have that opportunity without a partnership like the one we share with Pacific Life. So we're grateful for it.

[00:14:06] Jim: Spencer, as we wrap up here, imagine that you have a veteran watching right now and they see you, somebody that as a veteran yourself.

[00:14:16] Jim: You, came from the military to civilian life and, you're, making great strides in the role you currently have as managing director at Academy Securities. Speak to that individual that, that new veteran right now, what would you say to them? That those words of encouragement.

[00:14:34] Spencer: That is such a great question. I'm glad you bring that up, Jim. Because my experience transitioning from the military was that the network of former service members were there for me. I found the door was open everywhere. I got in touch with someone who had, served a veteran, not just Navy folks, not just Naval Academy graduates, but every veteran had an open door and was very committed to helping me.

[00:15:00] Spencer: And I think that's. Really the standard that from that that notion and philosophy of service. And so we're very committed to that. It's certainly our platform. It's a mission we articulate clearly not just to our partners, but to transition veterans and that we're there, we're going to be there.

[00:15:17] Spencer: We get a phone call from a veteran, anyone within our organization or somebody who's active duty looking to transition. We're going to spend the time with them. We're going to point them in the right direction. We can be a resource for them to ask questions they might consider dumb. How do I look at this industry and where might there be an opportunity for me, given my experience?

[00:15:34] Spencer: That is that's what we do. It's just the standard. It was done for me. I'll do it for others. The folks I'm mentoring and that we're mentoring as a team are going to do it for the next generation of veterans. So you find a community and you should be very encouraged about. Your service and what it's going to mean to an organization.

[00:15:54] Spencer: You're going to support in the next phase of your career.

[00:15:56] Jim: How could folks get in touch with you to connect with you further?

[00:15:59] Spencer: Yeah. Academy Securities. com and Academy alpha. com Academy Securities is the investment bank and broker dealer and Academy Asset Management is our Institutional asset manager.

[00:16:11] Spencer: All kinds of resources to reach out directly to us. We'll certainly take the time. Whether there's an opportunity at Academy Securities or whether it's somewhere else, we're committed to pointing you in the right direction. Veterans have earned that opportunity and we're certainly here for that.

[00:16:27] Jim: Fantastic. Lance, thank you so much. I know you're busy and in the midst of helping to host this event, GPFA here. So thank you for taking time out of your busy calendar.

[00:16:38] Lance: Thank you for having me, Jim. And lastly, Spencer, thank you for being a great partner, you and Academy Securities. Lance, thank you very much.

[00:16:44] Lance: We appreciate it.

[00:16:45] Jim: Yeah, thank you. Spencer, thank you so much for joining us on the show today. And hopefully there'll be more opportunities to learn more about the great work Academy Securities and Pacific Life are working on together.

[00:16:54] Spencer: Looking forward to that anytime. Thank you, Jim.

[00:16:56] Jim: Great. Thank you.

[00:16:57] Jim: And to our audience, I want to thank you so much for joining us on another episode of The Wave Strength podcast. And I want to encourage you to head over to YouTube, Spotify, and Audible. Search The Wave Strength, hit like and subscribe so that you can stay current with content as it becomes available.

[00:17:13] Jim: We'll see you next time, everyone.

[00:17:18] The Wave Strength: This has been another episode of The Wave Strength presented by Pacific Life. Don't forget to catch us on YouTube and make sure to subscribe. Although this podcast is presented by Pacific Life, the opinions and views expressed are those of the hosts and participants, and do not necessarily reflect Pacific Life's views on any of the topics discussed.

[00:17:40] The Wave Strength: Unless otherwise noted, Pacific Life is unaffiliated with any other individual or company mentioned. Pacific Life is a product provider. It is not a fiduciary, and therefore does not give advice or make recommendations regarding insurance or investment products. Pacific Life, its affiliates, its distributors, and respective representatives do not provide any employer-sponsored qualified plan administrative services, or impartial advice about investments and do not act in a fiduciary capacity for any plan.

[00:18:08] The Wave Strength: Pacific Life refers to Pacific Life Insurance Company and its subsidiary, Pacific Life & Annuity Company. Insurance products can be issued in all states except New York by Pacific Life Insurance Company and in all states by Pacific Life & Annuity Company. Product availability and features may vary by state.

[00:18:25] The Wave Strength: Each insurance company is solely responsible for the financial obligations accruing under the products at issues. This podcast was recorded on November 20th, 2024.

[00:18:42] Jim: Thanks for joining us on today's show. We'd love to hear from you join the conversation below and leave a comment on your thoughts on what the industry can do better for participants as it pertains to lifetime income solutions. And if you'd like more interesting content, click one of these links over here.