There are forces that quietly and invisibly shape fiduciary judgment when rules alone are no longer sufficient to determine responsibility. The Invisible Threat podcast is hosted by Carter Wilcoxson, Founder and CEO of ePIC Services Company, and Dr. Matthew Eby, Founder of Nth Degree Financial Solutions, a doctorally trained fiduciary researcher and co-author, with his wife Joanne, of The Invisible Threat: A Professional Fiduciary’s Guide to Unseen Challenges in Wealth Management. The podcast explores what happens when professionals trained to rely on traditional rules are required to interpret duty, discretion, and responsibility in complex situations—often without realizing that what is required in those situations has changed. Through fiduciary scenarios drawn from real-world situations, the podcast examines how judgment is formed—before anyone is aware of it—inside moments of uncertainty where interpretation carries real consequences. To make judgment visible, the podcast draws on the AFIRE™ Compass, a research-backed framework that examines how Anchors, Fairness, Identity, Risk, and Emotion influence fiduciary judgment in today’s fiduciary industry. Designed for trust officers, administrators, advisors, and other fiduciary professionals, the podcast treats disagreement and uncertainty not as failure, but as diagnostic—revealing how unseen assumptions shape responsibility long before outcomes are documented.
Invisible Threat
Claim This Podcastby Dr. Matthew Eby & Carter Wilcoxson
Podcast Overview
There are forces that quietly and invisibly shape fiduciary judgment when rules alone are no longer sufficient to determine responsibility. The Invisible Threat podcast is hosted by Carter Wilcoxson, Founder and CEO of ePIC Services Company, and Dr. Matthew Eby, Founder of Nth Degree Financial Solutions, a doctorally trained fiduciary researcher and co-author, with his wife Joanne, of The Invisible Threat: A Professional Fiduciary’s Guide to Unseen Challenges in Wealth Management. The podcast explores what happens when professionals trained to rely on traditional rules are required to interpret duty, discretion, and responsibility in complex situations—often without realizing that what is required in those situations has changed. Through fiduciary scenarios drawn from real-world situations, the podcast examines how judgment is formed—before anyone is aware of it—inside moments of uncertainty where interpretation carries real consequences. To make judgment visible, the podcast draws on the AFIRE™ Compass, a research-backed framework that examines how Anchors, Fairness, Identity, Risk, and Emotion influence fiduciary judgment in today’s fiduciary industry. Designed for trust officers, administrators, advisors, and other fiduciary professionals, the podcast treats disagreement and uncertainty not as failure, but as diagnostic—revealing how unseen assumptions shape responsibility long before outcomes are documented.
Language
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Publishing Since
2/5/2026
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Recent Episodes
July 2, 2026
Experience Dies With The Expert: Knowledge Doesn't
Someone sits down with a blank regulatory page. The technology is moving faster than anyone has experience to understand. And suddenly the entire profession realizes it's being asked to modernize in real time without a map. This is the moment when experience and knowledge reveal themselves as two entirely different things—and neither one exists yet where it's needed most. On this episode of Invisible Threat, you'll trace how professions convert raw experience into transferable knowledge through five deliberate stages, and what breaks down when those stages collapse because the ground keeps shifting beneath them. You'll discover why aviation's transformation from trusting experienced pilots to studying how pilots think offers the fiduciary industry its closest parallel, and why the biggest professions eventually face the hardest question: who builds knowledge when no one has decades of experience yet? This conversation examines the invisible threat facing fiduciary modernization—the gap between what individuals have learned and what the profession hasn't yet captured. Carter Wilcoxson, CEO and founder of ePIC Services Company, hosts alongside Dr. Matthew Eby and Joanne Eby as they build on conversations from recent episodes, constructing a framework for understanding discretion itself. For Wilcoxson, this work sits at the heart of a deeper conviction: that the profession's next chapter depends on research, not just reminiscence. About the Guest: Dr. Matthew Eby and Joanne Eby bring decades of combined expertise in fiduciary practice and institutional knowledge development. Their work explores how professions capture and transfer the tacit knowledge that experienced practitioners carry—and how emerging fields like modern fiduciary management can build systems of learning before experience calcifies into tradition.
June 25, 2026
When the Answer Isn't Obvious, That's Where Discretion Lives
A pause hangs in the conversation—not uncomfortable, but the kind that settles when something true has just been named. We exercise discretion every day. But do we actually understand it? Dr. Matthew Eby and Joanne Eby return to Invisible Threat to examine fiduciary discretion at its foundation. Why has decades of professional knowledge never become formal research? Why does experience remain locked inside individuals instead of becoming wisdom for the entire profession? And what shifts when new technology—particularly AI—enters a system built on human judgment and interpretation? This conversation reveals the gap between what fiduciaries assume they know and what has actually been studied, exposing how inherited assumptions about discretionary decision-making may no longer align with today's changing families, evolving beneficiary expectations, and the new landscape of wealth transfer and institutional risk management. Carter Wilcoxson, host and CEO of ePIC Services Company, guides this investigation with the precision of someone who has spent years inside the profession's actual practice. He understands that this is not about better controls or compliance checklists—it's about recognizing the invisible threat: the foundational questions we've never thought to ask. About the Guest: Dr. Matthew Eby and Joanne Eby bring decades of combined experience in fiduciary examination, risk management, and professional practice evolution. Their work focuses on bridging the gap between institutional knowledge and formal research within the wealth transfer and trust administration sectors.
June 18, 2026
Fiduciary Risk Is Judgment Risk—Not Control Risk
A judgment process follows every rule, passes every approval, and leaves the fiduciary risk completely untouched. The documentation is flawless. The committee voted. The controls all worked. So why does the exposure remain? In this episode of Invisible Threat, Carter Wilcoxson explores a counterintuitive truth with Dr. Matthew Eby and Joanne Eby: fiduciary risk doesn't originate in failed processes or broken controls. It forms much earlier—in the distortion of judgment itself, before any decision is made. Unlike credit risk or market risk, fiduciary risk lives in interpretation, in how discretionary decisions are made under conditions of uncertainty and competing interests. This conversation redefines what fiduciary organizations actually need to measure, and why the controls that feel most protective may be missing the threat entirely. Carter Wilcoxson, CEO and founder, brings decades of financial services leadership to this examination, testing each idea and pushing toward clarity. As someone who has spent a career understanding how organizations manage competing obligations and exercise discretion responsibly, Carter recognizes that this reframing—from process risk to judgment risk—changes everything about how fiduciary committees approach their work. Dr. Matthew Eby and Joanne Eby, coauthors of The Invisible Threat, guide this fundamental shift in how we think about fiduciary risk management. About the Guest: Dr. Matthew Eby and Joanne Eby are coauthors of The Invisible Threat, a comprehensive examination of fiduciary risk in financial institutions. Their work challenges conventional approaches to risk assessment and offers organizations a new framework for understanding judgment-based risk in complex decision-making environments.
22 total episodes available
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Frequently asked questions
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- What is Invisible Threat?
- How often does this podcast release new episodes?
This podcast updates daily.
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This podcast is available on 4 platforms including Apple Podcasts, Spotify, and more. You can also use the RSS feed directly.
- Does this podcast accept guests?
Yes, this podcast regularly features guests.
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