In this episode of Financial Modeler’s Corner, Paul Barnhurst is joined by Rafael Le Saux to explore the real-world challenges of financial modeling, valuation, and how the role is evolving with new tools like AI. They discuss why strong modeling fundamentals still matter, the risks of poorly structured models, and how professionals can improve their skills in a rapidly changing environment.

Rafael Le Saux is a valuation and modeling expert with over 16 years of experience in financial advisory and alternative investments. He leads Valuation and Modeling Services at PwC Deals and Strategy Luxembourg, advising clients on complex valuation matters across multiple asset classes. He has held senior roles at Partners Group and worked across multiple global markets and is actively involved in industry education and research.

Expect to Learn

• Why is the model structure important
• Common mistakes in financial modeling
• How to improve Excel and modeling skills
• How AI is used in modeling today
• Why analysis and judgment still matter

Here are a few quotes from the episode:

• |“Those Frankenstein models built from different sources are always the hardest to fix.” - Rafael Le Saux
• “When you work on a bad model, you quickly understand why structure matters.” - Rafael Le Saux

Rafael explains that AI can help speed up work, but it cannot replace thinking. The real value comes from understanding the data and building models that others can trust and use.

Follow Rafael:

LinkedIn: https://www.linkedin.com/in/rafael-le-saux/

Website: https://www.pwc.lu/

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LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

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Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[00:34] – Rafael Le Saux Background

[03:04] – Modeling Horror Story

[05:09] – Teaching Financial Modeling

[07:15] – AI in Learning & Education

[09:50] – Using AI in Daily Work

[12:03] – Limits of AI in Analysis

[11:53] – Automation vs Analysis

[15:13] – Luxembourg as a Financial Hub

[17:56] – Regulation & Valuation

[20:31] – Advice for Financial Modelers

In this episode of Financial Modeler’s Corner, Paul Barnhurst sits down with Rafael Le Saux to talk about valuation, modeling, and how the field is changing. They dig into real challenges from working on complex models and what happens when things go wrong. The conversation also covers how private markets are evolving and why valuation is getting harder. It’s a practical look at how modeling connects to real decisions in today’s finance world.

Rafael Le Saux is a valuation and modeling expert with over 16 years of experience in financial advisory and alternative investments. He leads Valuation and Modeling Services at PwC Luxembourg, working across multiple asset classes. He has also worked at Partners Group and across global markets, including France, Australia, and Chile. Alongside his professional work, he teaches, speaks at industry events, and supports the valuation community.

Expect to Learn

• Why a strong model structure is critical in real-world projects
• The impact of evergreen and semi-liquid funds on valuation risk
• Why regulators are increasing scrutiny on valuation practices
• How AI is helping improve workflows but not replacing human judgment
• How to bridge the gap between auditors and investment teams

Here are a few quotes from the episode:

• “Some students are actually afraid of Excel, and you can see that change in just a couple of days.” - Rafael Le Saux
• “Financial modeling is not just about numbers. It’s about understanding where you are today and where you’re going tomorrow.” - Rafael Le Saux

Valuation and modeling are becoming more demanding as markets continue to change. Better tools make the work faster, but they don’t replace the need for clear thinking and solid structure. The people who focus on understanding the “why” behind the numbers, not just the output, will be the ones who stand out.

Follow Rafael:

LinkedIn: https://www.linkedin.com/in/rafael-le-saux/

Website: https://www.pwc.lu/

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[04:25] – Modeling Horror Story

[06:36] – Teaching Modeling

[09:11] – AI in Education

[11:21] – AI in Daily Work

[16:45] – Luxembourg as a Financial Hub

[19:48] – Regulation & Valuation

[22:55] – Retail Investors & Private Markets

[26:59] – Valuation Frequency

[30:10] – Auditors vs Investment Teams

[33:30] – Excel Tips

[35:20] – World Cup Model

[37:30] – Rapid Fire

[44:00] – Final Advice

In this episode of Financial Modeler’s Corner, Paul Barnhurst sits down with Riley Edwards to discuss what it’s like starting out in financial modeling and how those skills carry into real-world financial planning. The conversation covers early mistakes, learning experiences, and the importance of presenting financial information clearly. Riley shares his journey from studying finance to working in wealth management, along with how financial modeling helped him build confidence, improve communication, and handle client conversations more effectively.

Riley Edwards is a Financial Planning professional at IG Private Wealth Management, working with Fox-Revett Heslegrave & Associates. He is an Adrian College alumnus and is currently building his career in the financial planning industry. Based in Schomberg, Ontario, Canada, he focuses on helping clients understand their finances and make better decisions through clear analysis.

Expect to Learn

• What early mistakes in financial modeling look like and how to fix them
• Why understanding the basics is more important than just building models
• How financial modeling improves confidence in professional settings
• Why presentation skills matter just as much as technical skills
• How modeling helps handle difficult client conversations

Here are a few quotes from the episode:

• “Learning modeling is easier when you have people around you to share ideas and solve problems together.” - Riley Edwards
• “Financial modeling is not just about numbers. It’s about understanding where you are today and where you’re going tomorrow.” - Riley Edwards

Financial modeling is not just about spreadsheets. It’s about turning numbers into something people can understand and use. As Riley explains, the real value comes from how you present and communicate that information, especially when the conversation is not easy.

Follow Riley:

LinkedIn: https://www.linkedin.com/in/rileyedwards0405/

Company’s Website: https://www.foxrevettassociates.com

Follow Financial Modeler's Corner:

LinkedIn Page- https://www.linkedin.com/company/financial-modeler-s-corner/

Newsletter - Subscribe on LinkedIn -https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984

Sign up for the Advanced Financial Modeler Accreditation Today and receive 15% off by using the special show code ‘Podcast’.

Visit https://bit.ly/497oAqW and use the code “Podcast” to save 15% when you register.

In today’s episode:

[02:57] – First Modeling Mistake

[05:07] – Getting Started in Financial Modeling

[07:29] – Learning Experience & Education

[10:04] – Most Rewarding Part of Modeling

[12:23] – Importance of Presentation Skills

[13:37] – Challenges in Learning Modeling

[15:29] – Current Role in Wealth Management

[17:38] – Personal Motivation & Background

[19:00] – Using Modeling in Client Work

[21:18] – AI in Learning & Modeling

[25:18] – Excel Tips & Shortcuts

[27:28] – Rapid Fire Round