2015 Toronto Wealth Management Summit

November 17, 2015 | Toronto
St. Andrew's Club & Conference Centre

In increasingly challenging market conditions, manufacturers and distributors alike need to understand the critical factors driving change in our industry and learn about the new investment solutions being tested and launched.

The sixth MMI Toronto Wealth Management Summit featured a series of frank discussions about the road ahead for investment advisory solutions. 

Topics included:

  • a macro industry overview by keynote speaker Goshka Folda,
  • goals-based wealth management: industry progress and challenges,
  • millennials and impact investing: charting a new path,
  • ETFs in new formats and how they are influencing the structure of the market,
  • how investment advisors are adapting their practices to the disruptive trends taking shape,
  • omni channel marketing: why robo advisors are here to stay, and
  • leadership lessons in the connected era from luncheon speaker Kim Lear

Additional Information


November 17, 2015
St. Andrew’s Club & Conference Centre – 27th Floor
150 King Street West (University & King)
Toronto, ON

Download Agenda (PDF)

8:00 AM – 8:30 AM             
Registration and Continental Breakfast

8:30 AM – 8:45 AM             
Welcome and Opening Remarks                                               

Conference Co-Chairs:
Erin Griffiths, Director, Products & Services Group, ScotiaMcLeod
Lisa Lake Langley, Partner and Head of Institutional Sales, Sandhill Investment Management

8:45 AM – 9:45 AM
Canada’s Wealth Management Business in the Next Decade: Welcome to the State of Change
The theme of change – both on the demand and supply sides of the financial services business – is more resonant than ever. A downshift in the pace of growth of the financial wealth market combined with multi-layered regulatory activity sets the stage for a decade of intensified competition. This climate of change is further exacerbated by tectonic shifts in the demographics of the Canadian household wallet as Baby Boomers stand on the threshold of retirement and Millennials embark on their own financial paths. How will asset managers, who cut their teeth on the accumulation phase, adapt to these new conditions? As the industry undergoes (r)evolution, competitive and economic pressures will create challenges and opportunities alike for financial services providers. 

Goshka Folda, President and CEO, Investor Economics

9:45 AM – 10:45 AM           
Comprehensive Goals-Based Advice: A Path to Better Investor Outcomes
Individual investors are increasingly clear about two things: as financial planning and investing steadily become more complex, they are seeking highly personalized advisory services; and – unsurprisingly – as they have historically, they are demanding “performance” above all else. Currently, there is a widespread movement across the financial services sector to embrace goals-based wealth management which shifts the performance focus away from short-term investment results toward holistically understanding investors’ needs and helping them achieve life and financial goals. It revolves around delivering income in retirement, planning for long-term health care needs, paying for education – putting investors’ lives at the center of everything that advisors do. Drawing on a new research paper published by MMI and State Street’s Center for Applied Research, this session examines how these goals-based platforms are being shaped to provide better outcomes for investors and the strategies employed to eliminate disconnects between investors’ stated goals and their actual behavior.

Annamaria Banaszek, Managing Director, Sententia Advisory Group
Sean Fullerton, Senior Research Analyst, State Street Corporation

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

11:00 AM – 12:00 PM
Advisor Panel: New Challenges, Evolving Practice Models
In the face of difficult market conditions and perhaps unprecedented industry disruption, preparation is the watchword. A diverse panel of financial advisors focuses on the key factors that are driving changes in their business practices. This group will address a wide-ranging list of topics, including:

  • technology and its impact on practice model scalability,
  • emerging new products and where they fit in the investment planning mix,
  • engaging with new generations of clients,
  • best practices for partnering and succession planning, and
  • the advent of goals-based wealth management – opportunities and challenges.

Moderator: Michael Lynds, Director, Head of National Wealth Management, IRESS
Darren Coleman, Senior Vice President, Private Client Group, Portfolio Manager, Raymond James
Asif Khan, Wealth Advisor, BMO Nesbitt Burns
Michael Newton, Director, Wealth Management & Portfolio Management, The Newton Group, ScotiaMcLeod

12:00 PM – 1:15 PM
Luncheon with Keynote Speaker
The Future Factors: Lessons on Leading in the Connected Era and Engaging the Empowered Client
We are in the midst of a period of great change at work and in the marketplace. Inside organizations, hierarchies are flattening, turnover of younger workers is high, and constant disruption is forcing established industries to work harder to remain relevant. On the consumer side, expectations of service are higher than ever. Empowered Clients have information at their fingertips, platforms to share their opinions, and are well aware of the power they wield in the marketplace. The ability to understand the factors that shape the behaviors of employees and clients is critical to organizations as they seek to create engaged and productive workforces and gain a competitive advantage in the marketplace.

This session will:

  • decode the major factors changing the way we work, how we buy and what we value,
  • provide actionable solutions for leaders to better recruit and retain the next generation of talent,
  • examine ways to transform workplace conflicts into growth opportunities,
  • —uncover changing purchasing behavior,
  • —identify how The Experience Economy is changing consumer behavior and expectations,
  • —explore best – and worst – case studies about consumer loyalty, and
  • create an action plan to leverage the voices of empowered clients.

Kim Lear, Founder and Content Director, Inlay Insights

1:15 PM – 2:15 PM
The Changing ETF Landscape
The pace of change in the ETF space continues to accelerate, and this session will examine the evolution, trends, and product solutions now available in the Canadian ETF marketplace. Homing in on the implications for product manufacturers, distributors, advisors and investors, our panel will address:

  • Is there room for ETF growth or has the market become saturated?
  • What innovations and added competition can we expect over the next three to five years?
  • Is there too much niche exposure in ETFs and will investors gravitate toward new products? 
  • What impact will CRM2 have? What other trends in advisor compensation will become important?
  • What are the implications of the growing usage of fixed-income ETFs? What liquidity issues are likely to arise?
  • What is the fallout, if any, of the events of August 24th?
  • Are ETFs so commoditized that fees are being driven down? 
  • What are the prospects for active ETFs?
  • As Robo advisors grow what impact will that have on the ETF industry?

Moderator: Warren Collier, Head of Canada iShares, BlackRock Asset Management Canada Limited
Chris Doll, Associate Vice President, Product Management, PowerShares Canada
Chris Heakes, Vice President and Portfolio Manager, BMO ETFs and Global Structured Investments
Jaime Purvis, Executive Vice President, National Accounts, Horizons Exchange Traded Funds


2:15 PM – 3:15 PM
Charting a New Path: Millennials and Impact Investing
Surveys consistently show that Gen Xers and Millennials rank what their investments will accomplish over how much they will earn. Put another way, they want their investments and philanthropy to be nearly indistinguishable. But platforms, products, and opportunities that integrate environmental, social, and governance factors with investing – reliably and in a scalable fashion – remain limited. New thinking is needed to better meet the emerging client demand, but the potential sources of growth and innovation are not evident. This is the dilemma our panel will tackle as it addresses a number of key questions:

  • Is the demand for impact investing from Millennials sustainable? What is motivating it, and what might derail it?
  • How are younger investors using ESG and impacting investing solutions? How are these solutions likely to change in the years ahead and why?
  • What are the implications for investors and advisors?

Moderator: William Burckart, Founder and CEO, Burckart Consulting
Tessa Hebb, Director, Carleton Centre for Community Innovation, Carleton University
Sandra Odendahl, Director, Corporate Sustainability and Head, Social Finance Initiative, Royal Bank of Canada
Ryan Pollice, Canadian Responsible Investment Leader, Mercer Investments

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

3:30 PM – 4:00 PM
2015 Regulatory Landscape and Outlook
This session will cover a range of issues spanning the regulatory spectrum. Among the topics to be discussed:

  • The regulatory view of robo advisors;
  • How the Brondesbury report on mutual fund fees and its findings might drive regulatory policy post-CRM2;
  • An assessment of the impact of the Cummings Report on the influence of trailing commissions on mutual fund sales; and
  • Will the ongoing U.S. fiduciary rule debate spill over into Canada?  

Prema K.R. Thiele, Partner, Borden Ladner Gervais

4:00 PM – 5:00 PM
Advice Goes Virtual: Navigating the Digital Advice Revolution

Like every other industry, wealth management is being disrupted by the increasing pace of digital innovation. Most recently this trend is taking the form of “robo-advisors” and the emergence of digital advice. Global advisory firm EY has analyzed the impact of digital advice around the world and has outlined challenges and opportunities for traditional wealth providers in its recent report “Advice Goes Virtual”.

  • Digital entrants are able to use a combination of simplified client experience, lower fees, and increased transparency to bypass costly distribution channels and offer automated advice direct to consumers.
  • The new models have the potential to make advice affordable for the mass market and have been a catalyst for fee compression in the mass affluent and high-net-worth segments traditionally served by advisors.
  • The changes digital firms have introduced to the wealth landscape are here to stay. Wealth managers need to determine how to adapt their business models to take advantage of the new reality on their own terms or risk external disruption of their client relationships.

While the digital advice industry in Canada is beginning to pick up steam, wealth management firms in the U.K. are further ahead in responding to this emerging market force. Join EY’s Dan Dagg in a discussion of how U.K. firms have responded to “the rise of the machines”, as well as hear from our panel of experts who will discuss how traditional firms are approaching similar challenges here in Canada and the US.

Moderator: Dave Inglis, Senior Manager, Wealth Management Advisory, Ernst & Young
Julie Barker-Merz, President and Head of Wealth Direct Investing, BMO InvestorLine
Todd Cooper
, Senior Vice President, Global Institutional Business Development, Envestnet

Dan Dagg, Senior Manager, Financial Services Advisory, Ernst & Young

5:00 PM
Closing Remarks

5:00 PM – 5:30 PM
Networking and Cocktail Reception

More Information

Featured Speakers:

Goshka Folda

Kim Lear

Goshka Folda
President & CEO
iNVESTOR ECONOMiCS               

Kim Lear
Founder & Content Director

Inlay Insights

Who Should Attend?

Whether you run product strategy or platform management at a financial institution, distribute money management services, provide technology solutions or consult to the industry, this conference will provide a broad perspective on the Canadian wealth management industry.

Mark your calendar and join us November 17th. The Summit will run from 8:00 am to 5:00 pm.

Registration Fees

The conference registration fee is $500.

Cancellations: No refunds will be granted for cancellations after 5:00pm ET on Friday, October 30th. Substitutions are permitted. Please notify MMI at (202) 822-4949.

Continuing Education Credits

IMCA has accepted the 2015 MMI Toronto Wealth Management Summit for 7.0 hours of CE credit towards the CIMA®, CIMC® and CPWA® certifications. If you hold the CIMA®, CIMC® or CPWA® certification(s), you may report this CE program online by logging into your My IMCA account at www.imca.org/user. The Program ID number will be provided after you have completed the program.


Attendee Registration:
Nia Edwards - nedwards@mminst.org
(202) 822-4949

Speaker Registration:
Laura Payne - lpayne@mminst.org
(202) 822-4949

Fees & Billing:
Michelle Marsh - mmarsh@mminst.org
(202) 822-4949

Sponsorship Opportunities:
Linda Pierre - lpierre@mminst.org
(202) 236-0935

Event Updates