2014 Toronto Wealth Management Summit

November 12, 2014 | Toronto
St. Andrew's Club & Conference Centre

Erin Griffiths
Director, Products & Services Group, ScotiaMcLeod
Lisa Lake Langley
Chief Operating Officer & Partner, Sandhill Investment Management

Featured Speakers:
Earl Bederman
President and CEO, iNVESTOR ECONOMiCS, 
Vice Chair North America, Asset International
Fabrice Morin
Prinicpal, McKinsey & Company

Additional Information


2014 MMI Canadian Wealth Advisory Solutions Conference
The Keys to Differentiation in a Challenging Environment 

November 12, 2014
St. Andrew’s Club & Conference Centre – 27th Floor
150 King Street West (University & King)
Toronto, ON

 Draft Agenda (PDF)

8:15 AM – 9:00 AM             
Registration and Continental Breakfast

9:00 AM – 9:15 AM             
Welcome & Opening Remarks

Conference Co-Chairs:
Erin Griffiths, Director, Products & Services Group, ScotiaMcLeod
Lisa Langley, Chief Operating Officer & Partner, Sandhill Investment Management

9:15 AM – 10:00 AM                       
An Overview of Key Asset Management Trends in North American
In a special preview of The Asset Management Industry in 2014, McKinsey’s annual benchmark survey scheduled to be released in November, Mr. Morin will explore the state of the $32 trillion asset management industry in North America, the drivers of growth and profitability in the industry, and key trends that are prevalent in the Canadian market.  Among the topics he will discuss are: why investment performance alone is not sufficient to drive growth, the relative importance of market positioning and distributional excellence, how successful firms are building market positioning strategies at a very granular level, and which expense categories are seeing the largest absolute dollar cost increases.  In terms of Canadian market trends, he will examine how banks are gaining market share both horizontally and vertically, the reasons why mutual funds – a vehicle under attack – are growing at a slower rate than overall retail managed assets, the impact of the looming retirement debate, and opportunities in the institutional marketplace.  McKinsey's industry-leading benchmarking survey covers 300 firms around the world – including more than 100 firms that account for 70% of assets under management in North America.  With 13 years of historical trend data, it employs 8,000 metrics to track asset and revenue growth, flows, profitability, revenues/pricing, costs, as well as productivity, product and channel mix, and performance by client domicile.

Fabrice Morin, Principal, McKinsey & Company

10:00 AM – 10:45 AM         
Canada's Wealth Management Business: Change, Challenges and Opportunities
In his presentation, Mr. Bederman, the founder of Investor Economics, will draw on his more than 30 years of experience in financial services to provide an overview of the unfolding landscape and expected future trends in the Canadian wealth and asset management industry. Using Investor Economics’ proprietary research, he will identify the key forces shaping the future size, growth and structure of the financial services market and outline his firm's assessment of the implications of those trends for industry participants.

Earl Bederman, President and CEO, investor Economics and Vice Chairman, North America, Asset International, Inc.

10:45 AM – 11:00 AM         
Refreshment and Networking Break

11:00 AM – 12:00 PM          
Successfully Navigating a More Challenging Regulatory Environment
The rate of change in the investment advice industry will be unprecedented over the next few years as regulators roll out Client Relationship Model 2 (CRM2). Learn how these changes are impacting advisors and their firms and what the experience with similar regulations has been in other countries. Our panelists will also discuss how to turn these new regulations into a competitive advantage and what may be next on the regulatory front.

Moderator: Erin Griffiths, Director, ScotiaMcLeod

Rebecca A. Cowdery, Partner, Borden Ladner Gervais
Simon New, Director, Wealth and Asset Management, Ernst & Young

 12:00 PM – 1:15 PM            
Executive Networking Luncheon

1:15 PM – 2:15 PM              
ETF Solutions and Robo-Advisors: Their Impact on Wealth Management and Advice Delivery
Mr. Bullard will provide a broad overview of the current state of the ETF solutions market in the U.S. and Canada along with an in-depth look at what a recent Cantor Fitzgerald study, The Evolution of Managed ETF Solutions, found to be the eight key trends in the sector for 2014-15. He will review recent developments in the Canadian market with updates on specific firms and ETF product solutions and 2015 predictions based on the impact of CRM2 and other trends. Lastly, he will discuss the rapid development in the U.S. and Canada of so-called robo-advisors – the unfortunately pejorative term that has been coined for on-line platforms that deliver relatively comprehensive wealth management advice, solutions and services. Mr. Bullard will share why he believes that robo-advisory will be different in Canada based on the prevalent investment products, channels, advice delivery models and regulatory environment – and what that means for investment advisors and the business models of the big banks.

Randy Bullard, Senior Managing Director, Cantor Fitzgerald ETF Solution Group

2:15 PM – 3:15 PM              
Goals-Based Wealth Management: The Next Step in the Evolution of Retail Investing?
Goals-based wealth management (GBWM) is currently garnering lots of high-level executive attention, significant investments of financial and human capital, and headlines across the U.S. financial media. Why all the focus on something that doesn’t really sound like a new concept? The Money Management Institute (MMI) defines GBWM as a comprehensive approach to providing guidance to investors so they can achieve their lifetime goals, beginning with the accumulation of household assets on through the withdrawal and bequest stages. While leading firms have capabilities that address many of the components of GBWM – including goals-based planning, product and investment selection, asset allocation, and multiple-account optimization (which factors in optimal asset location, rebalancing, protection strategies, income sourcing and withdrawal sequencing) – few, if any, are able to connect and deliver these elements in a fully integrated, scalable fashion. These firms are now developing next-generation capabilities and systems that will seek to deliver to investors a comprehensive household management experience. This session will offer marketplace intelligence on the quantifiable benefits of a GBWM approach and how architect/builders at leading firms are approaching the challenge.

Jack Sharry, Principal and Executive Vice President, Strategic Development, LifeYield LLC

Ugur Hamaloglu, Senior Manager, Ernst & Young
David Zierath, Global Investment Strategist, SEI Asset Management

3:15PM – 3:30 PM               
Refreshment and Networking Break

3:30 PM – 4:30 PM               
Post-Global Financial Crisis Trends in Wealth Technology 

In the post Global Financial Crisis era, the regulatory whip is driving change worldwide as greater transparency and tighter risk management are being sought with an end goal of improving the quality and delivery of financial advice. The industry response has been to re-focus on value and efficiency – a movement that began initially in the boutique segment but has since spread to institutional organizations. The objective, as Mr. Walsh will discuss, is to generate more efficient outcomes, a quest in which technology will play a heightened role. Among the trends he will examine:

  • A growing movement toward outsourcing and refocusing on core advice competencies
  • Businesses seeking to source solutions from fewer and stronger technology vendors
  • Leaner and meaner businesses focused on doing more with less by leveraging technology
  • Greater automation and more integration between advisory firms and third parties
  • The challenge of providing and integrating advice – from simplified/scaled advice through to fully customized client solutions – from a single technology solution.

Mr. Walsh will provide insight into broad global trends in automation and their impact on advisors and client engagement as technology enables the shift toward more simplicity, greater transparency and enhanced client relationships.

Andrew Walsh, CEO and Head of North America, iRESS

4:30 PM                                 
Closing Remarks

4:30 PM – 5:30 PM              
Networking and Cocktail Reception


For all questions, please contact:
Sarah Reinhart

(202) 822-4949 or (202) 821-4106

Location and Registration Fee

The Registration fee for this event is $450.
Cancellations: No refunds will be granted for cancellations after 5:00pm ET on Friday, October 31st. Substitutions are permitted. Please notify MMI at (202) 822-4949.

St. Andrew’s Club & Conference Centre – 27th Floor
150 King Street West (University & King)
Toronto, ON

Preparing for the Millennial Shift - Listen to the Net Meeting

The Money Management Institute (MMI) hosted a special webinar in June for financial services firms engaged in the Canadian wealth management marketplace. Michael Ellison, President of Corporate Insight, Inc., shared findings and key takeaways from a recent research study that his firm conducted to help financial services marketers, product managers and strategists better understand Millennials and identify effective tactics for serving this demographic.

If your firm is an MMI member and you were not able to join us, please click below for the audio file and slides. 

The Millennial generation – sometimes referred to as Generation Y – represents a potentially huge opportunity for financial services firms given its size and future economic muscle. However, Millennials also pose a clear challenge to the industry’s traditional marketing strategies and business models. Members of Generation Y take a skeptical view of financial institutions, one shaped by the financial crisis and subsequent economic malaise. They have different preferences from their Baby Boomer parents, particularly when it comes to financial products, technology and the way they interact with companies.

Three key questions addressed:

  1. How do Millennial attitudes/behaviors/demographics differ from those of earlier generations?
  2. How can financial services firms use technology to engage members of Generation Y?
  3. What best practices are firms employing to connect with Millennials?