2014 Annual Convention

Mar - Apr
31 - 02

March 31 - April 2, 2014 |
Hilton New York, New York, NY.


David Berkowitz, President, Lincoln Financial Network

Larry Sinsimer, Senior Vice President, Practice Management, Fidelity Investments

Re-Engineering Managed Solutions and Client Relationships to Optimize Outcomes

Platinum Sponsor:

 Folio Dynamix

Silver Sponsors:

Silver Sponsor Charles River

Silver Sponsor Fiserv

Silver Sponsor Vestmark

Recap: 2014 MMI Annual Convention

More than 330 advisory solutions executives gathered in New York last week for the 2014 MMI Annual Convention – Re-Engineering Managed Solutions and Client Relationships to Optimize Outcomes. 


During the three-day meeting, industry experts led sessions on what clients value in an advisory relationship, the characteristics of shifting relationship preferences and investment attitudes across differing age groups, and the growing importance of aligning investment programs with customer needs and goals through goals-based investing. If you were unable to attend, you missed those and other thought-provoking sessions on a broad range of topics, a compelling list of speakers and panelists, and a chance to connect with colleagues, competitors and industry leaders. Convention highlights included:

Craig Martin: Building Relationships That Drive Positive Financial Results
Craig MartinMr. Martin, a Director at J.D. Power, opened the meeting with a presentation that focused on the results and impact of his firm’s recently conducted financial services customer satisfaction research. Sponsor firms and advisors, he urged, must come to understand the ongoing shifts in customer desires, perceptions and behavior and deal with the factors that have become the principal drivers of relationship effectiveness today. “It’s about building collaboration with your customer,” Mr. Martin argued. “That doesn’t mean discussing every financial decision. It’s about understanding their goals and objectives, having a clear vision. You are listening to your clients, you are not telling them what to do….When you tell people what to do, they don’t value your advice nearly as much as when you hear them out and then offer solutions and options to meet their needs.” 

Marilyn Moats Kennedy: A Cross-Generational Approach to Developing and Selling Financial Products
MMKA highly sought after speaker, expert on demographic trends and CEO of Moats Kennedy Inc., Ms. Kennedy’s keynote presentation outlined a cross-generational approach to developing and selling financial products to the four discrete age cohorts born since 1946 – Baby Boomers (1946-1959), Cuspers (1960-1968), Busters (1969-1978) and Millennials (1978-1990). “When we look at relationship building across the spectrum, it has got to be different for each age group. You have to wear a different hat. One size does not fit all,” she cautioned. Among the topics Ms. Kennedy covered were the devastating impact on Boomers and Busters of those over 85 being the nation’s fastest growing age cohort; the tendency of Busters – whom she termed the “darkest group” in the economy – to save at a disproportionate rate; late maturation among Millennials, their shunning of traditional corporate career paths, and a growing wave of entrepreneurship; and the need of Busters and Millennials for a true sense of mission.

Goals-Based Wealth Management: The Next Big Game Changer in Retail Investing?
Chuck WidgerWhile history has yet to put a final stamp on the next big change in managed solutions, the largest sponsor firms are now building capabilities around Goals-Based Wealth Management at the household level. A distinguished panel of three former MMI chairmen discussed the challenges and opportunities presented by outcomes-based planning and investing and where they see the industry headed. There was consensus among the panelists on two major points: outcomes investing is the right path for the industry to take and the demand is clearly there. Chuck Widger (left), Executive Chairman of Brinker Capital, summed up the panel’s view, “Goals based investing incorporates everything the investor wants. Our clients…don’t want to go through 2008-2009 again….I hope the industry will make this a message because I think that it has been too focused on indexes. It has been guiding clients to invest based on beating the S&P 500. That’s a fool’s errand – people may want the return, but they sure don’t want the risk. Outcomes-based investing will help manage the risk and will do a better job for our clients.”

Jeffrey S. Weiss: Money, Madness and the Markets: A Look at the Charts
Jeff WeissChief Technical Analyst at Tejas Securities Group, Inc., Mr. Weiss took the audience on an insider’s tour of the technical analyst’s world which he has inhabited for four decades and what goes into the challenging task of trying to predict stock market movements. True to his reputation as a provocative speaker, Mr. Weiss told the audience, “There are no great analysts on Wall Street. There never were, there never will be. The stock market in and of itself is the greatest analyst. All we can do – no matter how advanced our degrees are and what our IQ is – is go back to the beginning and listen to the market’s message and the clues it gives.” 

Impact Investing Portfolios: A Viable Solution?
William BurckartWith the level of discussion and interest among investors and advisors clearly at a high watermark, this panel explored impact investing, the subject of a white paper soon to be released by MMI and Impact Economy. The panel agreed that there is without question a clearly growing demand for impact investing. As one panel member put it, “You don’t dedicate people or capital to these types of activities out of large financial services firms if there is not client demand for it. What has changed over the last seven years…is seeing some of these trends really take off.” Two of the most difficult aspects of impact investing, the panel agreed, are scalability and measurement.  “The finance side is the easy part,” one panel member offered. “We feel very good about being able to provide a return commensurate to the risk. The hard part is measuring impact in terms of investor goals that are very personal and qualitative.” (Moderator: William Burckart, Managing Director, Impact Economy (North America) LLC, above)

Mark your calendar now and make plans to attend the 2014 MMI Fall Solutions Conference October 21-22 at the Hilton New York.  



2014 Annual Convention