Toronto Wealth Management Summit

November 15, 2016 | Toronto
St. Andrew’s Club & Conference Centre

Finding Opportunity in Disruption

Co-Chairs:
Erin Griffiths

Vice President, Total Wealth Strategy, Scotia Wealth Management | The Bank of Nova Scotia                                          
Lisa Langley
President & CEO, Emerge Capital Management

Download Agenda

Please join us at the seventh annual MMI Toronto Wealth Management Summit for a series of candid discussions about what lies ahead for the Canadian wealth management and advisory industry. In a period marked by disruption and transition, we’ll focus on the major trends at work and explore strategies and tactics to position your organization for success.


Additional Information

Featured Speakers

Goshka Folda

Goshka Folda
President & CEO
Investor Economics

Canadian Wealth Management in the Next Decade: The "In-Between" States 

Prema Thiele
Partner
Borden Ladner Gervais

Legal & Regulatory Update: Preparing for Future Chalenges 

 

Who Should Attend?

Do you run product or platform strategy at a financial institution? Distribute investment management services? Provide technology solutions? Consult to the industry? This conference will provide a broad perspective on the Canadian wealth management space and connect you with senior executives from leading firms.

Agenda

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

November 15, 2016

DRAFT AGENDA (10/12/16)

8:00AM – 8:30AM
Registration and Credential Pickup

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

Conference Co-Chairs
Erin Griffiths,
Vice President, Total Wealth Strategy, Scotia Wealth Management | The Bank of Nova Scotia
Lisa Langley, President & CEO, Emerge Capital Management

8:45AM – 9:45AM
Keynote- Canadian Wealth Management Advisory Landscape

Ms. Folda, a well-respected industry expert, takes us on a tour of the rapidly changing Canadian high-net-worth market and examines the forces reshaping it. Fee-based assets as a percentage of advisory business are climbing steadily and the high-net-worth investor segment in Canada is approaching $4 trillion. Yet financial services firms are facing a host of new challenges: unprecedented demographic shifts, younger generations of investors with distinctly different needs and expectations, increased competition from digital advice sources, and mounting regulatory and pricing pressures. Firms and investment advisors are being forced to redefine their advice value proposition, searching for new ways to differentiate their message and services and stand out in a crowded marketplace. Ms. Folda will assess the shifting landscape and discuss strategies and tactics that can help you position your organization for success.

Goshka Folda, President & CEO, Investor Economics 

9:45AM – 10:45AM
Legal & Regulatory Update: Preparing for Future Challenges

The Canadian regulatory framework continues to evolve at a rapid pace. While financial firms in the United States are now wrestling with the implications of the DOL’s fiduciary rule, Canadian firms have been contending with CRM initiatives for some time. Today, even as firms are still implementing CRM1, they are grappling with CRM2 and its downstream complexities in order to be able to provide the required enhanced transparency of fees and advisor compensation. The expected new Cooperative Capital Markets Regulatory System (CCMRS) will again force us to adjust our perspective as will the unveiling of draft rules to permit the offering of alternative funds to retail investors.

In this session, Prema Thiele will review the outlook for CCMRS along with the key regulatory developments for OSC/MFDA/IIROC with a focus on the biggest hurdles ahead. Co-presenter Allison Wielobob will provide perspective on the steps U.S. firms are taking as they prepare to comply with the DOL fiduciary rule as well as some of the rule’s anticipated consequences. We will also examine the role of technology, which is moving ahead at light speed, enabling firms and regulators to contend with the pace of regulatory change by putting in place systems and processes to support supervision and enforcement. 

Presenters:
Prema K. R. Thiele
, Partner, Borden Ladner Gervais
Allison E. Wielobob, Counsel, Sutherland Asbill & Brennan

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

11:00AM – 12:00PM 
The Experience Factor: The New Growth Engine in Wealth Management

A new EY report draws a startling conclusion: globally, up to U.S. $200 billion in advisory revenue may be at risk because of shortfalls in delivering the right kind of client experience. Fully 40% of all investors surveyed indicated they are open to switching wealth managers under the right circumstances, according to EY’s 2016 global wealth management report, The Experience Factor: The New Growth Engine in Wealth Management. The EY survey found that firms that fail to make strategic investments to deliver a superior client experience around performance, engagement, and trust may risk losing a substantial portion of their current business. Gregory Smith, EY’s Wealth and Asset Management Advisory leader, will review the key factors that drive client retention and acquisition and discuss EY’s findings on the disconnect between wealth managers and their clients in three key areas: transparency, advice delivery channels, and the advisor’s role.

Gregory Smith, CMC, Partner, Wealth and Asset Management Advisory, EY

12:00PM – 1:30PM
Luncheon with Advisor Panel: New Challenges, Evolving Practice Models
The challenges confronting advisors continue to multiply as regulation becomes more complex, the pace of technological change accelerates, and products like ETFs alter the face of the market. A diverse panel of investment advisors focuses on the critical factors that are reshaping their business practices. Among the topics they will address:

  • how technology is changing the advisor-client relationship,
  • emerging new products and where they fit in the investment planning mix,
  • progress on the goals-based wealth management front – are advisors and clients embracing it?,
  • the ins and outs of engaging next generation clients, and
  • facing up to the implicit challenge of digital advice.

Moderator: Michael Lynds, Executive Vice President, Head of Business Development, IRESS Canada
Panelists:
Jesse Kaufman
, Vice President, Portfolio Manager and Investment Advisor, The Seidman Kaufman Group at Richardson GMP Ltd.
Danielle Martin, Director, Wealth Management & Senior Wealth Advisor, ScotiaMcLeod
Rob Pollard, Senior Vice President, Portfolio Manager, PCG, The Wyndham Group, Raymond James Ltd.

1:30PM – 2:30PM
FinTech: How Will It Alter the Advisory Equation?

Our earlier sessions have highlighted the significant trends that are impacting advice delivery in Canada.  One of the biggest drivers of change – just as in every other aspect of our lives – is technology. Rapid advances in technology are driving fundamental changes in the traditional advisory equation – expanding the definition of advice beyond its conventional box of an investment advisor sitting across the table from a client. This panel will explore the growing influence of FinTech, addressing such topics as:

  • What are the key elements of the advisory relationship/customer experience that can be enhanced by technology? Are there any sacred cows?
  • How do advisors currently spend time that can be optimized by digital services? How will they spend their time instead?
  • Do enhanced digital capabilities change the relationship dynamic between advisors and the firms they work with? Will roles and expectations be altered?
  • What are the obstacles to implementing digital initiatives in complex financial services organizations? How can firms move faster? Which capabilities are the most important and why?

Moderator: Amelia Young, Principal, Upside Consulting Group, Inc.
Panelists:
Ron Fox
, CEO, Glidepath Portfolio Services, Inc.

Dave Malone, Vice President, Business Initiatives, RBC Dominion Securities
Tania Slade, Director, Enterprise Planning, BMO Financial Group
Doug Steiner, CEO, Evree Corp.  

2:30PM – 3:30PM
Disruption to the Establishment 

Three main disrupters with the potential to have a major impact on the Canadian investment landscape are ETFs, CRM2, and digital advice. What better way to understand how these disruptive forces are affecting investment channels than to learn directly from those who are driving the disruption? This panel will discuss how established advice models are being impacted and reshaped. Topics will include:

  • the impact of advisory fee disclosure and transparency,
  • how margin compression will affect product distribution and wholesaling,
  • whether traditional asset management models can compete with the continued rise of ETFs,
  • how solutions providers and investment advisors will evolve their value proposition,
  • the influence of robo and digital advice models and the biggest challenges they face,
  • how traditional fund companies can continue to compete for market share, and
  • whether major institutions with legacy systems can keep up with the pace of technological innovation.

Moderator: Elisabeth Prefontaine, Head of Sales, Wealth Channel, BlackRock
Panelists:
Randy Cass,
CEO, Founder and PM, NestWealth
Rodrigo Gordillo, Managing Partner and Portfolio Manager, ReSolve Asset Management

Erin Griffiths, Vice President, Total Wealth Strategy, Scotia Wealth Management | The Bank of Nova Scotia
Florence Narine, Vice President, Head of Product, AGF Management Limited

3:30PM – 3:45PM
Refreshment and Networking Break

3:45PM – 4:45PM
New Product Development: Implications of an Evolving Regulatory and Technology Framework

As we have seen throughout the previous sessions, two key themes are becoming increasingly prevalent within the financial services industry: regulation and technology. Both stand to significantly influence and alter how advisors and their dealers will distribute product and interact with their clients. As a result, product manufacturers are looking to ensure that they adapt to regulatory and technological evolution and are becoming increasingly conscientious as to how this change will impact their ability to continue to play a pivotal role with their distribution partners and intermediaries. This panel will address such topics as:

  • With a potential ban on embedded compensation looming, how will fund companies react?
  • How will proposals such as 33-404 impact shelf space opportunities at dealers?
  • As consumer purchasing preferences change as a result of technological innovation, will manufacturers seek out alternative methods of distribution? 

Moderator:
James Price, Director of Capital Markets Products, Richardson GMP

Panelists:
Christopher Doll, Vice President, Product & Business Strategy, PowerShares, Canada
Mark Raes, Head of Product ETFs and Mutual Funds, BMO Global Asset Management
Jos Schmitt, CEO, Aequitas Innovations Inc.

4:45PM – 5:00PM
Closing Remarks

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

Pricing

Forum cost:

The Forum registration fee is $500. 

Cancellations: No refunds will be granted for cancellations after 5:00pm ET on Friday, November 4th. Substitutions are permitted. Please notify MMI at (646) 868-8500.

Questions?

Attendee Registration:

Nia Edwards - nedwards@mminst.org

(646) 868-8506

Speaker Registration:

Laura Payne- lpayne@mminst.org

(646) 868-8510

Fees & Billing:

events@mminst.org


(646) 868-8500

Event Updates

Gold Sponsor

  • Ernst & Young

Luncheon Sponsor

  • Purefacts Financial

Silver Sponsors

  • Charles River
  • Univeris

Bronze Sponsors

  • Broadridge
  • Invesco
  • iress