Tiburon CEO Summits 2016-2017

Tiburon CEO Summits

Tiburon has held 33 prior Tiburon CEO Summits, with the first Tiburon CEO Summit taking place in 2001. Details of the most recent Tiburon CEO Summits XXXII, XXXI, & XXX are included below. For details of earlier Tiburon CEO Summits, please click here: Most Recent, (2016-2017), 2014-2015, 2012-2013, 2010-2011, 2008-2009, 2006-2007, 2004-2005, & 2001-2003.


Tiburon CEO Summit XXXII: April 3-5, 2017

Tiburon CEO Summit XXXII was held April 3-5, at the Ritz Carlton Hotel in New York, NY. Tiburon CEO Summit XXXII started at 7:45am on Tuesday, April 4, 2017, included a group dinner that night, and finished at 2:00pm on Wednesday, April 5, 2017. Senior industry executives took two days out of their busy schedules to participate. There were over twenty sessions. Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXXII included speakers Jack Bogle (Founder, The Vanguard Group), Don Phillips (Managing Director, Morningstar), Ron Albahary (Chief Investment Officer, Threshold Group), Brad Bernstein (Managing Partner, FTV Capital), Phil Blancato (CEO, Ladenburg Thalmann Asset Management), Josh Brown (CEO, Ritzholtz Wealth Management), John Bunch (President, Financial Engines Advisors), Roy Burns (Managing Director, TA Associates), Don Calcagni (Chief Investment Officer, Mercer Advisors), Lawrence Calcano (CEO, iCapital Network), Rich Cancro (CEO, AdvisorEngine), John Coyne (Vice Chairman, Brinker Capital), Lisa Dolly (CEO, Pershing), Tom Dorsey (Founder, Dorsey, Wright, & Asociates), Stephane Dubois (CEO, Xignite), Ric Edelman (Executive Chairman, Edelman Financial Services), John Gabbert (CEO, Pitchbook Data), George Gatch (CEO, Investment Management Americas, JP Morgan Chase & Company), Jane Gladstone (Senior Managing Director, Evercore Partners), Charles Goldman (CEO, AssetMark), Matt Harris (Managing Director, Bain Capital Ventures), Tim Harrison (CEO, Harrison Financial Services), Dennis Lockhart (Former CEO, Federal Reserve Bank of Atlanta), Pierre Mendelsohn (CEO, ALPIMA), Herbert Moore (CEO, Wise Banyan), David Musto (President, Great-West Investments), Adrian Nazari (CEO, Credit Sesame), Shirl Penney (CEO, Dynasty Financial Partners), Steve Piaker (Managing Director, Napier Paker Global Capital), Larry Raffone (CEO, Financial Engines), Len Reinhart (CEO, Wealthcare Capital Management), John Rourke (CEO, Starburst Labs), Aaron Schumm (CEO, Vestwell), Ian Sheridan (Managing Director, Vestigo Ventures), Eric Sontag (Chief Operating Officer, Sontag Advisory), Tom Staudt (Interim Chief Operating Officer, ARK Investment Managment), Angie Stephenson (Chief Operating Officer, ParenteBeard Wealth Management), David Stone (CEO, Aria Retirement Solutions), Jerry Szilagy (CEO, Catalyst Capital Advisors), Mark Tibergien (CEO, Pershing Advisor Solutions), Doug Trott (CEO, PriceMetrix), Nic Volpi (Partner, Permira Advisors), Edmond Walters (Founder, eMoney Advisor), & Elliot Weissbluth (CEO, HighTower).

Keynote Presentations

Tiburon CEO Summit XXXII featured two keynote presentations by Tiburon Managing Partner Chip Roame regarding the state of the financial services industry. These presentations served as the backdrop and overview of the entire Tiburon CEO Summit. 

 




 

 



Tiburon CEO Summit XXXII
Keynote Presenter
Chip Roame
Managing Partner
Tiburon Strategic Advisors

 

 

 

 

 

 

Chip Roame (Managing Partner, Tiburon Strategic Advisors)

Tiburon Strategic Advisors is pleased to provide a summary of the content of its Tiburon CEO Summit XXXII keynote presentations. Chip Roame (Managing Partner, Tiburon Strategic Advisors) gave a day #1 presentation broadly addressing the state of the financial services industry, with a specific focus on the growing wealth management market. He also gave a day #2 presentation addressing strategic activity within the industry.

Charles ("Chip") Roame is the Managing Partner of Tiburon Strategic Advisors and a leading strategic consultant to CEOs, other senior executives, & boards of directors in the banking, insurance, brokerage, & investment management markets. Prior to forming Tiburon in 1998, Mr. Roame served in similar capacities, first as a management consultant at McKinsey & Company, and later as a business strategist at The Charles Schwab Corporation. Mr. Roame is quoted daily throughout the media and, due to Tiburon's widely shared research and CEO-level client base, he may be the most frequently demanded board advisor. His particular expertise is that of corporate strategy for larger financial services firms, designing broad multi-faceted strategies and making trade-offs between alternative businesses, products, & markets.

Mr. Roame has responsibility for all of Tiburon's consulting, research, & marketing activities which keeps him on the leading-edge of strategic initiatives in the industry's fastest growing businesses -- exchange traded funds (ETFs), hedge funds & other alternative investments, bitcoin & blockchain, financial planning, wealth management services, life insurance, annuities, family office services, online financial services, and the growing independent advisor markets. He has also taken a substantial interest in regulatory issues such as the fiduciary standard, and in financial services industry venture capital & private equity opportunities and mergers & acquisitions transactions. At Tiburon, Mr. Roame has led over 1,900 client engagements for over 450 corporate clients since 1998.

Mr. Roame has won numerous awards throughout the private equity, investment banking, consulting, and financial services industries, including being named one of the power 25 elite by Investment News, one of the 25 most influential individuals in the advisor business by Investment Advisor magazine, & one of the five experts with the answers by Boomer Market Advisor. Tiburon has also been named one of the fastest growing companies by the San Francisco Business Times in multiple years.

Mr. Roame is frequently sought as a board member by Tiburon client company boards. He presently serves as a board member of Envestnet (NYSE: ENV), as a board member of Edelman Financial Services (Ric Edelman’s business backed by Hellman & Friedman), and as a trustee of the SA mutual funds family (which is sponsored by Loring Ward and employs Dimensional Fund Advisors as its sole sub-advisor).

Tiburon Managing Partner Chip Roame gave two keynote presentations at Tiburon CEO Summit XXXII.

Tiburon CEO Summit XXXII Day #1 Keynote Presentation:
The Future of Wealth Management: The Top Ten Industry Trends & the Top Ten Potential Disruptors


The objectives of the Tiburon CEO Summit Day #1 keynote presentation were to anchor Tiburon CEO Summit discussion on consumers; to offer a broad view of the wealth management industry; to set a discussion agenda for Tiburon CEO Summit XXXII (framing the dozens of “three big points"), & to introduce 40+ speakers. The basis of the Tiburon CEO Summit XXXII keynote presentation was industry developments (“the news”), recent Tiburon & third-party research findings, the Tiburon CEO Summit XXXII attendee content survey, & Tiburon CEO Summit XXXII guest speaker presentations (and prior presentations).

The theme for the Tiburon CEO Summit Day #1 keynote presentation at Tiburon CEO Summit XXXII was the top ten industry trends & the top ten potential disruptors.

The Top Ten Industry Trends

Mr. Roame outlined the top ten industry trends as follows:

1. Consumers & Their Money

Consumer households have $42.0 trillion investable assets, $64.3 trillion financial assets, $107.9 trillion total assets, and $92.8 trillion net worth. Tiburon CEO Summit attendees continue to estimate that ~75% of financial advisor clients are baby boomers. Tiburon CEO Summit attendees continue to believe that baby boomers are not yet financially ready for retirement. Tiburon CEO Summit attendees say that longer life expectancies & lack of savings are the biggest financial issues for baby boomers. Tiburon CEO Summit attendees expect many consumers to rely on later retirement ages. Baby boomers will liquidate some portion of the $63.5 trillion in retirement plans, personal assets, & small businesses.

2. Evolving Consumer Investment Approaches

Tiburon CEO Summit attendees believe that consumers' risk management focus will increase moderately or even hugely over the next five years. They also expect that the demand for episodic only advice will see moderate growth. Tiburon CEO Summit attendees also said that the Do It Yourself trend will grow moderately over the next five years.

3. Indexing & Exchange Traded Funds

Passive funds gathered $500 billion net flows in 2016 while active funds lost $340 billion. Fee-based financial advisors are the largest holders of exchange traded funds (ETFs), with $475 billion. Millennials allocate 36% of their portfolios to exchange traded funds (ETFs) versus 23% for all investors.

4. Discount Brokerage Firms

Both the retail and financial advisor support models at both Fidelity Investments & The Charles Schwab Corporation are now amongst the leading financial advisor channel firms. The wirehouse channel leads the financial advisor channels in average financial advisor assets under administration with $124.7 million of assets under administration, but discount brokerage firms come in a close second with $110.1 million of assets under administration.

5. Robo Advisors

There are at least 52 online advice firms, up from two in 2002. All online advice firms have gathered $268.9 billion assets under management, including $206.8 billion at defined contribution plan focused firms. Tiburon CEO Summit attendees increasingly think that the number of financial advisors will stagnate or at least grow only moderately over the next five years.

6. Managed Accounts

Tiburon CEO Summit attendees anticipate that managed accounts and financial advisor directed programs will be the most important financial advisor model changes over the next five years. Tiburon CEO Summit attendees believe that financial advisor directed programs (rep as advisor & rep as portfolio manager) will grow moderately over the next five years.

7. Alternative Investments & Liquid Alternatives

Hedge funds have gathered $3.2 trillion assets under management, up from $42 billion in 1988. Hedge fund performance was consistently strong in the late 1980s and early 1990s; more recent performance has been more volatile.

8. Socially Responsible Investing & Impact Investing

Socially responsible investing & impact investing firms have gathered $8.7 trillion assets under management, up from $0.2 trillion in 1995. Tiburon CEO Summit attendees expect that socially responsible investing & impact investing will grow moderately over the next five years.

9. Independent Advisors

Tiburon CEO Summit attendees continue to believe that the number of independent advisors will grow the fastest over the next five years. They also believe that United Capital Financial Partners, Edelman Financial Services, & HighTower have the best chance at building nationwide financial advisory businesses.

10. Break-Away Brokers

Successful financial advisor teams & financial advisors move in three patterns, including captive-to-captive, independent-to-independent, & captive-to-independent (break-away brokers). There were 413 successful financial advisor teams that broke-away in 2015, down from 544 in 2010 but up from 372 in 2014. Successful financial advisor teams & financial advisors that broke-away took $142 billion assets under administration, up from $77 billion in 2010. Tiburon CEO Summit attendees continue to believe that the break-away brokers trend will grow hugely or at least moderately over the next five years. The break-away broker movement could triple in size if the wirehouses cease paying brokers to move.

The Top Ten Potential Disruptors

Mr. Roame said that the top ten potential disruptors are the following:

1. The Federal Reserve

The first potential disruptor is the Federal Reserve increasing interest rates & changing industry profitability. Tiburon CEO Summit attendees believe that the most important outcome of the Federal Reserve increasing interest rates is that it adds to the fuel of the industry.

2. The Eight Year Bull Market, Potential Corrections, & Potential Impacts on Industry Dynamics

The second potential disruptor is the eight year bull market, potential corrections, & potential impacts on industry dynamics. General impacts that this would have include that higher interest rates may lead to stock market declines, and substantial decline may shock investor confidence. Furthermore, a stock market correction could mean less trading & lower asset values to bill upon; slow investments; stopping break-away broker movement; leaving many firms for sale without buyers; & some smaller financial advisors give up.

3. Repeal of the Department of Labor Fiduciary Standard & Other Deregulatory Efforts

The third potential disruptor is the repeal of Department of Labor Fiduciary Standard & other deregulatory efforts. Tiburon CEO Summit attendees say that a potential Fiduciary Regulation by the Securities & Exchange Commission (SEC) is the most important regulatory issue to their firms. They also believe in the need for Taxable Account Uniform Fiduciary Standard.

4. Digital Marketing & Social Media

The fourth potential disruptor is digital marketing & social media. Newspapers print advertising revenues are $14 billion, down from $34 billion in 2005. Digital advertising revenues are $66.6 billion, up from $59.6 billion in 2015.

5. Financial Advisor Technology & Outsourcing

The fifth potential disruptor is financial advisor technology & outsourcing. FA TAMPs have gathered $2.3 trillion assets under management & administration, up hugely since 1995. Tiburon CEO Summit attendees believe that FA TAMPs will realize moderate or huge growth over the next five years.

6. Big Data & Analytics

The sixth potential disruptor is big data & analytics. Tiburon CEO Summit attendees said that big data & mobile technology will be the most impactful technological issues. Almost all Tiburon CEO Summit attendees also believe that big data & analytics will transform the financial services industry.

7. Artificial Intelligence; Blockchain; & the Internet of Things

The seventh potential disruptor is artificial intelligence; blockchain; & the internet of things. Tiburon CEO Summit attendees are primarily not worried about artificial intelligence disrupting the financial services industry, though 38% are worried or very worried.

8. Millennials

The eighth potential disruptor is millennials. Tiburon CEO Summit attendees recognize the importance of social networks on millenials' investment strategy. Over half of high-earning millennials who do not have financial advisors would more likely work with financial advisors if fees were lower. Almost one-third of millennials believe that cash is the best investment versus just 18%-19% of prior generations.

9. FANG: Facebook, Amazon, & Google

The ninth potential disruptor is FANG: Facebook, Amazon, & Google. One recent study said that almost three-quarters of millennials would take financial advice from FANG companies. Tiburon CEO Summit attendees expect moderate growth or even huge growth if FANG companies push further into financial services.

10. China, India, & the Middle East

The tenth potential disruptor is China, India, & the Middle East. Tiburon CEO Summit attendees said that many of their firms do not operate outside of the United States. China & India have over 1.0 billion residents each, more than 200% larger than the United States. The urbanization rate in China will be 70% up from 53% in 2015. Those between the ages of 0-29 make up 59% of Saudi Arabia's population versus just 40% in the United States.

Tiburon's Conclusions on The Future of Wealth Management

The trend is your friend with the rapidly growing market: Historically terrific economics will be challenged (bet on transparency). Remember that closest to client almost always eventually wins.

Tiburon CEO Summit XXXII Day #2 Keynote Presentation: Wealth Management Strategic Industry Activity

Tiburon Managing Partner Chip Roame's day #2 keynote presentation was intended to address strategic activity in the wealth management industry, including venture capital, public offerings, and mergers & acquisitions.

Financial Services Industry Profitability & Valuations

Regarding financial services industry profitability: fee-based financial advisors generate 69 basis points, down from 73 in 2011, 2013, & 2014. Fee-based financial advisors earn a 28.2% operating income margin, up from 22.2% in 2010. Regarding financial services valuations: healthcare led all sectors with a 14.6% total return between November 4, 1980-October 21, 2016; financials had a 12.0% total return. Financials have led all sectors, up 11% since the United States presidential election.

Financial Services Industry Venture Capital & Minority Growth Equity Investments

Robo advisors raised $208 million venture capital, up from $9 million in 1998. Tiburon CEO Summit attendees increasingly believe that venture capital's bet on online financial advice will see only moderate growth or stagnate in 2017-2018. Tiburon CEO Summit attendees said that private equity will continue to invest hugely or at least moderately in independent financial advisor distribution

Financial Services Industry Public Offerings

There were 128 initial public offerings (IPOs) in 2016, down from 580 in 1995 & its peak of 840 in 1996. Tiburon CEO Summit attendees said financial services industry initial & secondary public offerings will grow only moderately or even stagnate.

Financial Services Industry Mergers & Acquisitions

Mergers & acquisitions' transaction value was $1.5 trillion, down from $2.4 trillion in 2012 & its peak of $3.5 trillion in 2014. Tiburon CEO Summit attendees increasingly say that financial services firm merger & acquisition activity will grow moderately. There were 126 investment management mergers & acquisitions transactions, down from 127 in 2012 & its peak of 144 in 2015. Investment management firm mergers & acquisitions transaction volume is $18.2 billion, up from $14.9 billion in 2012, but down from its peak of $27.4 billion in 2014. Tiburon CEO Summit attendees say that financial technology firm consolidation activity will increase moderately or even hugely in 2017-2018. Tiburon CEO Summit attendees also say that financial advisor consolidation activity will remain steady in 2017-2018. Tiburon CEO Summit attendees said that other RIAs or roll-up firms will be the most frequent financial advisor acquirers.

Financial Services Industry Activists Campaigns

Activist hedge funds pursued 355 campaigns, up from 253 in 2008. Financial services industry activist fund specific targets have included American International Group (AIG) (Icahn Enterprises), LPL Financial Holdings (Marcato Capital Management), State Street Corporation (Trian Fund Management), & The Bank of New York Mellon Corporation (Marcato Capital Management & Trian Fund Management).

Tiburon Conclusions on Wealth Management Industry Strategic Activity

Tiburon's conclusions on wealth management industry strategic activity include profitability valuations to see mixed results; venture capital & minority growth equity investments to increase; initial public offerings (IPOs) & secondary offerings to stagnate; mergers & acquisition activity to increase led by investment management firms & financial advisors; & activism to increase.

Speakers

Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXXII included speakers Jack Bogle (Founder, The Vanguard Group), Don Phillips (Managing Director, Morningstar), Ron Albahary (Chief Investment Officer, Threshold Group), Brad Bernstein (Managing Partner, FTV Capital), Phil Blancato (CEO, Ladenburg Thalmann Asset Management), Josh Brown (CEO, Ritzholtz Wealth Management), John Bunch (President, Financial Engines Advisors), Roy Burns (Managing Director, TA Associates), Don Calcagni (Chief Investment Officer, Mercer Advisors), Lawrence Calcano (CEO, iCapital Network), Rich Cancro (CEO, AdvisorEngine), John Coyne (Vice Chairman, Brinker Capital), Lisa Dolly (CEO, Pershing), Tom Dorsey (Founder, Dorsey, Wright, & Asociates), Stephane Dubois (CEO, Xignite), Ric Edelman (Executive Chairman, Edelman Financial Services), John Gabbert (CEO, Pitchbook Data), George Gatch (CEO, Investment Management Americas, JP Morgan Chase & Company), Jane Gladstone (Senior Managing Director, Evercore Partners), Charles Goldman (CEO, AssetMark), Matt Harris (Managing Director, Bain Capital Ventures), Tim Harrison (CEO, Harrison Financial Services), Dennis Lockhart (Former CEO, Federal Reserve Bank of Atlanta), Pierre Mendelsohn (CEO, ALPIMA), Herbert Moore (CEO, Wise Banyan), David Musto (President, Great-West Investments), Adrian Nazari (CEO, Credit Sesame), Shirl Penney (CEO, Dynasty Financial Partners), Steve Piaker (Managing Director, Napier Paker Global Capital), Larry Raffone (CEO, Financial Engines), Len Reinhart (CEO, Wealthcare Capital Management), John Rourke (CEO, Starburst Labs), Aaron Schumm (CEO, Vestwell), Ian Sheridan (Managing Director, Vestigo Ventures), Eric Sontag (Chief Operating Officer, Sontag Advisory), Tom Staudt (Interim Chief Operating Officer, ARK Investment Managment), Angie Stephenson (Chief Operating Officer, ParenteBeard Wealth Management), David Stone (CEO, Aria Retirement Solutions), Jerry Szilagy (CEO, Catalyst Capital Advisors), Mark Tibergien (CEO, Pershing Advisor Solutions), Doug Trott (CEO, PriceMetrix), Nic Volpi (Partner, Permira Advisors), Edmond Walters (Founder, eMoney Advisor), & Elliot Weissbluth (CEO, HighTower).

Jack Bogle
(Founder, The Vanguard Group)

 

 

Tiburon CEO Summit XXXII
Prior Award Recipient
Jack Bogle
(Founder, The Vanguard Group
)


 

 

 

 

 

 

 

Jack Bogle is CEO of Vanguard’s Bogle Financial Markets Research Center. Mr. Bogle founded the Vanguard Group in 1974, served as CEO until 1996 and senior chairman until 2000. Mr. Bogle was recognized as a Tiburon CEO Summit award recipient in 2010 because he exemplifies the three central themes, including focusing on Consumer (and other client) Needs, Challenging Conventional Industry Wisdom (innovation), & Taking Responsibility. Mr. Bogle is one of the most respected mutual fund leaders and a legend to many.

Mr. Bogle’s recent comments have included:

  • "Time is your friend; impulse is your enemy."
  • "Ideas are a dime a dozen, but implementation is everything."
  • "The reason an institution fails is because they forgot what they came from."
  • "Trading is a losers game overall."
  • "Ask yourself: Am I an investor, or am I a speculator? An investor is a person who owns business and holds it forever and enjoys the returns that US businesses, and to some extent global businesses, have earned since the beginning of time. Speculation is betting on price. Speculation has no place in the portfolio or the kit of the typical investor."

Don Phillips
(Managing Director, Morningstar)

 

 

Tiburon CEO Summit XXXII
Prior Award Recipient
Don Phillips
(Managing Director, Morningstar
)


 

 

 

 

 

 

 

Don Phillips is a Managing Director at Morningstar. Previously Mr. Phillips oversaw the firm’s global fund, equity, & credit research. He has also served on the company’s board of directors since 1999. Mr. Phillips joined Morningstar in 1986 as the company’s first mutual fund analyst and soon became editor of its flagship publication, Morningstar Mutual Funds, establishing the editorial voice for which the company is best known. Mr. Phillips helped to develop the Morningstar Style Box, the Morningstar Rating, and other distinctive proprietary Morningstar innovations that have become industry standards.

Mr. Phillips’s recent comments have included:

  • "I think we need new onramps into the industry, stop making it so complicated."
  • "Online advice is going to marry with financial advisors to offer incredible tool kits which are going to serve the younger generation. I am quite optimistic about it. I see technology & better training coming together to meet this challenge."
  • "What the public really craves is simplicity, but the industry creates complexity."
  • "At the end of the day investors have a right to the transparency and the chain of command, and ultimately know how their money is invested."
  • "Asset managers must prove that they align their interests with Main Street, not Wall Street."

Ron Albahary
(Chief Investment Officer, Threshold Group)

 

 

Tiburon CEO Summit XXXII
Speaker
Ron Albahary
(Chief Investment Officer, Threshold Group
)


 

 

 

 

 

 

 

Ron Albahary is Chief Investment Officer of Threshold Group. Mr. Albahary leads Thereshold’s investment management and research services and manages the firm’s team of investment professionals. Prior to Threshold Group, Mr. Albahary held various positions at Covergent Wealth Advisors, Schroders, SEI Investments, Merrill Lynch, & more.

Mr. Albahary’s recent comments have included:

  • "I bring great passion to the innovation and delivery of solutions designed to navigate turbulent markets and help clients sleep well at night knowing they are well positioned to achieve their goals."
  • "We’re not attracting new talent in this industry, which is a big problem."
  • "This is a unique opportunity to gain investment knowledge and insight in a tangible way that very few organizations are able to achieve."
  • "We evaluated the universe of funds by applying our proprietary quantitative scoring framework and found those funds with a well defined theory of change and an outcome- focused orientation (versus simply counting outputs) tended to score the highest. Interestingly, our top three were generally consistent with the selections of the other judges."
  • "Despite the equity and credit markets quickly shrugging off the initial shock of Brexit (at least for now), the potential for longer term consequences is something we take seriously and view with great caution."

Brad Bernstein
(Managing Partner, FTV Capital)

 

 

Tiburon CEO Summit XXXII
Speaker
Brad Bernstein
(Managing Partner, FTV Capital
)


 

 

 

 

 

 

 

Brad Bernstein is Managing Partner of FTV Capital. Mr. Bernstein leads investments in enterprise technology & Services and financial services. Mr. Bernstein has over twenty years of private equity experience. Prior to joining FTC Capital, Mr. Bernstein was a partner at Oak Hill Capital Management. Mr. Bernstein began his career with Patricof & Company Ventures and Merrill Lynch.

 

Mr. Bernstein’s recent comments have included:

  • "Technology has become a true game-changer in financial services. As the wealth management landscape in the UK continues to transform, digital tools will become table stakes for advisers who want to retain existing clients and continue to grow their client bases."
  • "Using & building technology & partnering those who work with technology is absolutely critical."
  • "Market inefficiencies, widespread growth in mobility and global ecommerce, heavy regulatory requirements, and massive demand for digitization are all driving opportunities for companies that are more effectively serving markets vacated by incumbents or that are enabling existing players to innovate more rapidly."
  • "It’s one thing to build a product to get into the market, but it’s another thing to sell it in the market."
  • "We view these long-term trends through the lens of the executives in our Global Partner Network. Our team proactively catalyzes investment opportunities with outstanding management teams who have successfully capitalized on these market dynamics and are looking for a financial sponsor offering deep domain expertise and access to our Global Partner Network to accelerate sales."

Phil Blancato
(CEO, Ladenburg Thalmann Asset Management)

 

 

Tiburon CEO Summit XXXII
Speaker
Philip Blancato
(CEO, Ladenburg Thalmann Asset Management
)


 

 

 

 

 

 

 

Philip Blancato is CEO of Ladenburg Thalmann Asset Management. Mr. Blancato is a 25 year veteran of the financial services industry with a specialized knowledge of portfolio and risk management, asset allocation and macro-economic theory as well as constructing and implementing seamlessly integrated platforms of fee-based solutions. Prior to joining Ladenburg Thalmann Asset Management, Mr. Blancato worked for PowellJohnson and Prudential Securities.

 

Mr. Blancato’s recent comments have included:

  • "I think we are in the midst of a real change in the midst of how we look at asset allocation."
  • "It’s really not true that active management does not succeed. We throw it all in one bucket."
  • "There are money managers that develop strategies based on economic cycles, and I would argue that there isn't one right now. Others manage money based on the yield curve, and how do you do that when it is in a range we haven't seen before? And then you have an earnings recession for five quarters in a row and the market is at or near all-time highs."
  • "Advisors are staunchly not willing to give up peas unless you’re willing to give up peas."
  • "Certainly the posturing of the Fed is creating a lot of noise, and when you get comments like that, it creates a little bit of anxiety in the market."

Josh Brown
(CEO, Ritholtz Wealth Management)

 

 

Tiburon CEO Summit XXXII
Speaker
Josh Brown
(CEO, Ritholtz Wealth Management
)


 

 

 

 

 

 

 

Josh Brown is CEO of Ritholtz Wealth Management. Mr. Brown is also the creator of The Reformed Broker blog and was ranked as the number one financial person to follow on social media by Barron’s, the Wall Street Journal, and TIME Magazine. In addition, Mr. Brown serves on the advisory boards of Reanalyze and Brightscope.

 

Mr. Brown’s recent comments have included:

  • "Automated allocation software is just a tool, employed by human firms, like email."
  • "I think there is a lot of ambiguity in the terms and that is probably why there is this whole thing going on where no one will trust a living human again."
  • "I think that this active, passive debate is no longer a debate. I think it’s been won, and I think we know who won."
  • "Volatility is not risk, it is the source of future returns."
  • "Regulations are created by governments usually after something goes horribly wrong. And then, you know, we forget why we have those regulations and we cut them."

John Bunch
(President, Financial Engines Advisors)

 

 

Tiburon CEO Summit XXXII
Speaker
John Bunch
(President, Financial Engines Advisors
)


 

 

 

 

 

 

 

John Bunch is President of Financial Engines Advisors. Mr. Bunch has served as Executive Vice President at Financial Engines, and President at Financial Engines’ subsidiaries, Financial Engines Advisors and The Mutual Fund Store. Prior to joining Financial Engines Advisor Center, Mr. Bunch held numerous positions at TD Ameritrade, TD Waterhouse, & The Charles Schwab Corporation.

Mr. Bunch’s recent comments have included:

  • "We believe the mass affluent market has historically been underserved. Our mission is to provide them with the same high-quality fee-only experience that has previously been reserved for the high net worth market."
  • "The worst thing you can do is give a digital lead to an advisor."
  • "We are pursuing a national presence, not a national brand."
  • "We are after scalable infrastructure, market by market expansion, consistent experience, investment philosophy, & value proposition, and some name brand recognition."
  • "We are not after expanding into markets where ROI projections are not attractive, just to be national."

Roy Burns
(Managing Director, TA Associates)

 

 

Tiburon CEO Summit XXXII
Speaker
Roy Burns
(Managing Director, TA Associates)


 

 

 

 

 

 

 

Roy Burns is Managing Director at TA Associates. Mr. Burns joined TA in 2001 as an Associate and returned to TA in 2006 following graduate school. Roy has closed nine investments totaling over $4 billion in enterprise value since joining TA. Prior to TA, he was involved in ten leveraged financings for sponsors and strategics, totaling over $7 billion. Roy’s primary focus is on services and technology providers in electronic payments, investment management and wealth management, and he also has experience in business services.

Mr. Burn's recent comments have included:

  • "TA Associates’ considerable experience in financial services enables us to offer strategic counsel and resources to augment NorthStar’s organic growth and pursue strategic acquisitions to build long-term value."
  • "Our activities in the marketplace can be helpful for these guys to uncover companies that may fit but because they haven’t really been focused on that avenue for growth, that they’re really starting from a place where they can use the incremental resources that TA can provide."
  • "We are proud of our successful history of investing in the asset management space. These are outstanding businesses that differentiate themselves on the basis of their intellectual capital and make a real impact on clients. TA has made sixteen investments in this industry over the last 25 years making us among the most active private equity investors in the industry. Investing in this market successfully requires substantial industry knowledge and a reputation for being highly respectful of each firm’s unique culture."
  • "Stadion’s early embrace of tactical asset allocation investment strategies has positioned it as a leader among its peers. With its unique approach to managing money, its highly-rated mutual funds, and its partnerships with some of the country’s leading financial services providers, Stadion is well-positioned for continued growth."
  • "TA’s business model is to back talented management teams of great businesses and assist them in achieving and maintaining a high growth rate over a long period of time. We are not focused on maxing a business in the short run. We want to build companies of consequence that can achieve and sustain leading market share and profitability over the long run, which benefits customers, employees and shareholders."

Don Calcagni
(Chief Investment Officer, Mercer Advisors)

 

 

Tiburon CEO Summit XXXII
Speaker
Don Calcagni
(Chief Investment Officer, Mercer Advisors
)


 

 

 

 

 

 

 

Don Calcagni is Chief Investment Officer of Mercer Advisors. Mr. Calcagni’s primary responsibilities include setting the strategic direction of the firm’s investment offerings, stewarding the firm’s assets under management, and acting as firm liaison to clients and institutional partners alike. Mr. Calcagni is an expert in the areas of financial mathematics, corporate finance, portfolio management, & taxation.

Mr. Calcagni’s recent comments have included:

  • "Rather than focusing on the client retention, focus on the client and why they’re leaving."
  • "I would love to see more appropriate benchmark reporting in the average investor space."
  • "Keep in mind that markets hate uncertainty. New information – in the form of an unexpected outcome – results in markets repricing themselves."
  • "Solving the deficit will likely require some combination of entitlement reform and defense spending reduction as these are by far the largest components of the federal budget."
  • "Consequently, our advice to you is this: don’t make changes to your portfolio in response to short-term news or flawed predictions from the so-called "expert" punditry currently flooding media outlets."

Lawrence Calcano
(CEO, iCapital Network)

 

 

Tiburon CEO Summit XXXII
Speaker
Lawrence Calcano
(CEO, iCapital Netowrk
)


 

 

 

 

 

 

 

Lawrence Calcano is CEO of iCapital Network, where he leads the firm’s key strategic and business development initiatives. Prior to joining iCapital Network, Mr. Calcano spent seventeen years with Goldman, Sachs. Mr. Calcano also serves on the Boards of the Mental Health Association of New York City, Capitol Acquisition 2, & Bite Tech.

Mr. Calcano’s recent comments have included:

  • "One of the hardest things in one of these companies is to have a realistic set of expectations."
  • "You need to have a systematic approach to investing in private equity."
  • "Given the robust interest in this asset class, we anticipate that more advisers and their wealthy clients will begin to explore private equity investments as a way of complementing a traditional portfolio composed of public equities and fixed income."
  • "The minimum commitment levels required by fund managers from investors typically ranges from $5 million to $20 million, which makes many funds out of reach for all but the biggest investors. This reflects the fact that private equity has traditionally been the domain of large institutional investors, such as pension funds, endowments and foundations."
  • "Alternatives as an asset class is a relatively new option for investors and advisors. So, advisers still need to educate themselves and climb the learning curve on these products to get a better understanding of the timelines, the fee and compensation structures and the overall investor experience before discussing these investments with clients."

Rich Cancro
(CEO, AdvisorEngine)

 

 

Tiburon CEO Summit XXXII
Speaker
Rich Cancro
(CEO, AdvisorEngine
)


 

 

 

 

 

 

 

Rich Cancro is CEO & founder of AdvisorEngine. Mr. Cancro has over twenty years of experience building and managing wealth management businesses, platforms and products. Prior to founding AdvisorEngine, Mr. Cancro held positions in Bank of America Merrill Lynch, JP Morgan Chase & Company, The Bear Sterns Companies, and Pershing.

Mr. Cancro’s recent comments have included:

  • "The general use of the funds is going to be toward product development."
  • "We had a client’s investment philosophy fully digitized ten days from the time that we signed the contract."
  • " Our purpose to help advisers is clear. People were sometimes confused by what we did, and were shocked at how much we offer."
  • "Every time over the past two years we have done demonstrations, whether it’s for a prospect or an industry veteran, every single time they say, I can not believe you have all this other stuff."
  • "Through my client experience in firms of all sizes, from the $50 million RIA, the billion dollar RIA, the hundred billion plus global franchise, the broker/dealers, banks, insurance companies, every single one of them [is] saying, ‘We want to change the client experience."

John Coyne
(Vice Chairman, Brinker Capital)

 

 

Tiburon CEO Summit XXXII
Speaker
John Coyne
(Vice Chairman, Brinker Capital
)


 

 

 

 

 

 

 

John Coyne is Vice Chairman of Brinker Capital with 36 years of industry experience. Mr. Coyne leads Brinker Capital’s initiative to broaden distribution into new market-places. In addition, Mr. Coyne is a board member and executive committee member of the Money Market Institute. Mr. Coyne was President of Brinker Capital and served as Chief Compliance Officer and a variety of regional and national sales persons at the firm.

Mr. Coyne’s recent comments have included:

  • "We see a lot of advisors without a plan, & their plan is to live their book out until they die."
  • "The weak US dollar is also a strength for US manufacturers as domestic goods become cheaper to purchase overseas."
  • "We need a bipartisan resolution to regulate government spending effectively."
  • "Success takes time and commitment, and those are much easier to give if you are happy and engaged in what you are doing."
  • "We’ll be moving to fill in the gaps for RIAs around practice management, technology, & service sales reports."

Lisa Dolly
(CEO, Pershing)

 

 

Tiburon CEO Summit XXXII
Speaker
Lisa Dolly
(CEO, Pershing
)


 

 

 

 

 

 

 

Lisa Dolly is CEO of Pershing. Ms. Dolly was most recently the chief operating officer of the firm and has been with Pershing for over 25 years. Ms. Dolly has served as chairperson of the Securities Industry and Financial Markets Association (SIFMA) Operations and Technology Steering Committee and has served on cross-industry committees with DTCC. In addition, Ms. Dolly was named on the "Women to Watch" list by InvestmentNews and the "50 Most Influential Women in Private Wealth" list by Private Asset Management magazine.

Ms. Dolly’s recent comments have included:

  • "There’s an availability of information that has never existed before, and our world is moving towards that."
  • "There is a lot of emotion around the issue of digital advice, but advice is one small piece of the story. Technology is the real story."
  • "The broker/dealer model has been under stress, and they’re going to morph into something that looks like an RIA."
  • "We have heard what other firms (expect). I think (costs of implementing the DOL) would be higher than what they are estimating because it is so early in the process."
  • "We look forward to helping our clients at INSITE 2016 with ideas designed to help them run their businesses more efficiently and serve their clients more effectively."

Tom Dorsey
(Founder, Dorsey, Wright, & Associates)

 

 

Tiburon CEO Summit XXXII
Speaker
Tom Dorsey
(Founder, Dorsey, Wright, & Associates
)


 

 

 

 

 

 

 

Tom Dorsey co-founded Dorsey, Wright & Associates in January 1987. Mr. Dorsey has over 40 years of experience in the financial services business, having started as a stock broker with Merrill Lynch Pierce Fenner & Smith in 1974. He is the author of nine books whose subject matter ranges from the Point & Figure methodology to motivational topics, and is regularly quoted in the financial media. Mr. Dorsey is an award winning speaker, having taught the Point & Figure method of investing, around the globe. Additionally, he has been recognized for his business acumen with various awards including the Citizens Community Award from Governor Charles Robb, Runner-up Ernst & Young Entrepreneur of the Year Award 1999, Runner-up Best Small Business of Richmond, VA 2000, and Alumni of the Year 2000, Virginia Commonwealth University as well as Star Alumni Virginia Commonwealth University 2015. In 2015, DWA was acquired by Nasdaq.

Mr. Dorsey’s recent comments have included:

  • "Who knew that the restart would be Donald trump? It needed to be someone, some way that broke us out of the old way. If you stay in the old way, you’re going to end up like Japan. Japan, for 20 years, has had no growth."
  • "Technology is where we are going – embrace it."
  • "Life is a cinch by the inch, but life is hard by the yard."
  • "To build a strong company, reduce your importance."
  • "Do you know what does not have an agenda? A relative strength chart."

Stephane Dubois
(CEO, Xignite)

 

 

Tiburon CEO Summit XXXII
Speaker
Stephane Dubois
(CEO, Xignite
)


 

 

 

 

 

 

 

Stephane Dubois is CEO and founder of Xignite. Mr. Dubois is a recognized financial data industry executive who founded Xignite to pioneer market data in cloud. Mr. Dubois was also nominated for FTF News Fintech Person of the Year and recently named for the second year to Institutional Investor’s Tech 50 list of financial visionaries and innovators. Prior to founding Xgnite, Mr. Dubois was Vice President of Product Management at Advent Software, and held positions at Walker Interactive Systems and Oracle Corporation.

Mr. Dubois’ recent comments have included:

  • "Financial institutions can no longer afford to operate rigid and proprietary data infrastructures…These legacy institutions must innovate and simultaneously cut costs if they want to survive and thrive in this new paradigm."
  • "It’s very, very difficult to innovate when you have all this infrastructure... Enable innovation, limit infrastructure"
  • "You can’t really afford to be stuck in the past."
  • " The fintech revolution has only just begun and will sweep all aspects of the financial services industry in the coming years."
  • "In a few years, most enterprise applications will have migrated to cloud and billions of devices consuming such data will also be operating off the cloud. If your data is not in the cloud by 2020, your business will probably not survive"

Ric Edelman
(Executive Chairman, Edelman Financial Services)

 

 

Tiburon CEO Summit XXXII
Speaker
Ric Edelman
(Executive Chairman, Edelman Financial Services
)


 

 

 

 

 

 

 

Ric Edelman, Founder and Executive Chairman of Edelman Financial Services, is widely regarded as one of the top advisors in the field. He was ranked the nation’s #1 Independent Financial Advisor three times by Barron’s, named among the country’s Top 10 Wealth Advisors by Forbes magazine in 2016 and is the 2017 recipient of the IARFC’s Loren Dunton Memorial Award, which is awarded to a person who has made a substantial contribution to the financial services profession and/or the financial interests of the public. He also was named one of the "Ten most influential figures" in the advisory field by RIABiz in 2013.

Mr. Edelman’s recent comments have included:

  • "Disruptions destroy companies, Instagram destroyed Kodak, Wikipedia destroyed encyclopedias."
  • "Any occupation that is redundant and repetitive will be replaced by robotics; computers can push the paper faster, cheaper, & be more accurate than humans can."
  • "We leverage technology and build great tools and products for investors who are self-directed or who need a little guidance. For clients who require or want a more high-touch experience, we refer them to an independent RIA. We believe in this model because we understand that investors want objectivity and the flexibility to choose the solution that is right for them."
  • "Pioneers get shot in the back with arrows, while the settlers who follow them build great cities. I view most of robo-advisors as pioneers; they lack sustainable business models in their present form and are doomed to failure. But their successors will change the industry."
  • "If you aren’t invited to a client’s wedding, if you aren’t the second person they call for a funeral, you are doing something wrong."

John Gabbert
(CEO, PitchBook Data)

 

 

Tiburon CEO Summit XXXII
Speaker
John Gabbert
(CEO, PitchBook Data
)


 

 

 

 

 

 

 

John Gabbert is CEO and founder of PitchBook, a private market financial data platform. Gabbert has more than eighteen years of experience in building information technology products for capital market professionals. Prior to founding PitchBook in March of 2007, Gabbert was the managing director of private markets for Dow Jones, & vice president of Worldwide Research for VentureOne, Venture Source and The Private Equity Analyst. Gabbert has played a key role in six acquisitions/ mergers (three as the acquired target and three as part of the acquiring/merged organization) by both strategic and private equity investors.

Mr. Gabbert’s recent comments have included:

  • "Fintech is the fuel for innovation for early stage companies."
  • "We have grown revenues ten times over the last five years. This year we will hit over 60% growth and next year we anticipate 50% growth. This year's sales will be over $50 million and we have about 600 people in the team."
  • "PitchBook is all about the people – and this team is the biggest reason why we are successful. We call ourselves PitchBook Panthers…because we relentlessly pursue our work like a panther does, and I think we have done just that. I am proud to be a Panther."
  • "I am a loyal person and Morningstar has been a great partner, very supportive from the beginning. So all else being equal, I would rather have Morningstar be the home for PitchBook for the next chapter."
  • "Joining forces with Morningstar will help us enter into our next stage of growth, including developing the next-generation version of our award-winning data and software platform, investing in our world-class sales and customer support functions, and expanding our business in Europe and Asia."

George Gatch
(CEO, Investment Management Americas, JP Morgan Chase & Company)

 

 

Tiburon CEO Summit XXXII
Speaker
George Gatch
(CEO, Investment Management Americas, JP Morgan Chase & Company)


 

 

 

 

 

 

 

George Gatch is CEO of Investment Management Americas at JP Morgan Chase & Company. Mr. Gatch joined JP Morgan Chase & Company in 1986 and has held numerous leadership positions throughout the firm in business management, marketing, and sales.

Mr. Gatch’s recent comments have included:

  • "In 20-30 years from today every defined benefit plan will have an allocation like Ford Corporation has today (77% fixed income)."
  • "When the millennials have lost confidence in our industry, we will have to change that."
  • "The only thing that matters is investment performance. Flows go to top performing funds and new strategies with good salespeople."
  • "It is likely that returns for equities and bonds going forward will be less than they have been over the past five years, and we’re entering a period where volatility is undoubtedly going to increase as the Fed tightens monetary policy."
  • "Today launching a fund is an entirely different ball game… The level of expertise and resources required to research, develop and launch new products has grown exponentially."

Jane Gladstone
(Senior Managing Partner, Evercore Partners)

 

 

Tiburon CEO Summit XXXII
Speaker
Jane Gladstone
(Senior Managing Director, Evercore Partners
)


 

 

 

 

 

 

 

Jane Gladstone is Senior Managing Director of Evercore Partners. Prior to joining Evercore Partners, Ms. Gladstone was a Managing Director at Morgan Stanley. With 25 years of experience in investment banking, Ms. Gladstone has been named one of the Top 50 rainmakers on Wall Street by Dealmaker magazine and one of the Top 50 Most Influential by Bloomberg.

Ms. Gladstone’s recent comments have included:

  • "The enforcement environment has changed overnight; big traditional financial institutions can innovate & acquire fintech companies."
  • "No such thing as a high heel market, just a bad credit market."
  • "We are one of the few developed markets that thinks about the consumer based on whatever product you’re selling."
  • "For the capital markets, market structure brokerage universe it’s the equivalent of Davos."
  • "Some of the most important changes involve the central clearing that’s mandated for most over-the-counter trades."

Charles Goldman
(CEO AssetMark)

 

 

Tiburon CEO Summit XXXII
Speaker
Charles Goldman
(CEO, AssetMark
)


 

 

 

 

 

 

 

Charles Goldman is CEO of AssetMark and serves on the boards of Personal Capital Corporation. Prior to joining AssetMark, Mr. Goldman was President of Fidelity Investments, Custody & Clearing, where he was responsible for three of Fidelity’s businesses: National Financial, Fidelity Institutional Wealth Services and Fidelity Family Office Service. Mr. Goldman has executive experience across a range of industries and is recognized for effectively turning around and building successful businesses through major growth initiatives, cost containment and by building world-class service organizations.

Mr. Goldman’s recent comments have included:

  • "We think about value creation, we do it through four strategic pillars: asset management excellence, compelling technology, thought leadership, & deep relationships."
  • "All the profits in the world of broker/dealers go to hidden fees, and those are going away."
  • "There are lot of advisers moving to a fee-based model, moving to independence and moving to outsourcing, and we are focused on capturing that opportunity."
  • "We have 6,000 relationships and $20 billion in assets, and that is meaningful, but we don't have a dominant share, and frankly, no one does."
  • "We are excited to work with Huatai through this transition and beyond as we share a common belief in delivering outstanding service and innovative solutions to advisors and the investors they serve."

Matt Harris
(Managing Director, Bain Capital Ventures)

 

 

Tiburon CEO Summit XXXII
Speaker
Matt Harris
(Managing Director, Bain Capital Ventures
)


 

 

 

 

 

 

 

Matt Harris is a Managing Director at Bain Capital Ventures and leads the New York City office. He started his investing career in the private equity group at Bain Capital in 1995, having worked previously at Bain & Company. In 2000, Matt founded Village Ventures where he focused on early-stage FinTech investments. In 2012 Matt rejoined Bain Capital Ventures and leads investments in financial technology and services including AvidXchange, BillTrust, Chrome River, Digital Currency Group, Flywire, IEX, Justworks, Novus Partners, OpenFin and Sigfig.

Mr. Harris's recent comments have included: 

  • "There is this kind of deathless phrase: liquidity breeds liquidity."
  • "Lending is a fundamentally risky business."
  • "A balance of pragmatism & vision makes a good management team."
  • "The first year I decided to do fintech investment, in 2002, there was $300 million total invested in fintech companies."
  • "If you’re in the fintech seat at private equity firm five years ago, you either invested in a robo advisor or your partners are asking you why you haven’t invested in a robo advisor yet."

Tim Harrison
(CEO, Harrison Finacial Services)

 

 

Tiburon CEO Summit XXXII
Speaker
Tim Harrison
(CEO, Harrison Financial Services
)


 

 

 

 

 

 

 

Tim Harrison is CEO of Harrison Financial Services. Mr. Harrison founded Harrison Financial Services in 1994 and started his career at Northwestern Mutual as an intern. Mr. Harrison has been helping clients achieve financial security by providing innovative solutions for their personal and business needs for over twenty years.

Mr. Harrison's recent comments have included: 

  • "There is a number of ways we can grow, but one of them is grow with our own efforts within, there a lot of advisors that we can bring in."
  • "Giving back has always been part of my life. I learned by watching my mom and dad, who are still active today at 75 and 80 years old."
  • "On one end of the spectrum, for five years we have led the manpower and financial support that helped raise over 100,000 food items for the Salvation Army and the food pantries of Omaha with the Red Kettle Run. Additionally, we taught and brought experts in on topics like personal finance, specifically to women and youth, and have been involved on several investment committees for large foundations in Omaha."
  • "It is a core value of everyone we hire to have a servant mentality. We don’t have to ask, but everyone we hire is involved in something in the community they are passionate about and have a natural connection to…More and more of our future focus will be centered on organizations with the greatest impact and we love when we can do something never been done before and can truly make a difference in our community and the lives of others."
  • "Our team is involved in raising awareness to the public, our clients and certain nonprofits on topics ranging from identity theft, advanced estate and charitable strategies, poverty and hunger and providing financial education on topics like Social Security and caring for elderly parents. Several team members have even taken on various leadership roles on a number of local boards and organizations including EO (Entrepreneurs’ Organization) Nebraska…etcetera."

Dennis Lockhart
(Former CEO, Federal Reserve Bank of Atlanta)

 

 

Tiburon CEO Summit XXXII
Speaker
Dennis Lockhart
(Former CEO, Federal Reserve Bank of Atlanta
)


 

 

 

 

 

 

 

Dennis Lockhart recently stepped down as President and CEO of the Federal Reserve Bank of Atlanta. Mr. Lockhart was responsible for all the Bank’s activities, including monetary policy, bank supervision and regulation, and payment services. In addition, Mr. Lockhart serves on the Federal Reserve’s chief monetary policy body, the Federal Open Market Committee (FOMC). Prior to Federal Reserve Bank of Atlanta, Mr. Lockhart served on the faculty of Georgetown University’s School of Foreign Service, chairman of the Small Enterprise Assistance Funds, managing partner at Zephyr Management LP, president of Heller International Group, and chairman of the advisory committee of the U.S. Export-Import Bank. Mr. Lockhart held various positions earlier in his career, with Citicorp/Citibank (now Citigroup) including assignments in Lebanon, Saudi Arabia, Greece, Iran, New York and Atlanta.

Mr. Lockhart’s recent comments have included:

  • "A key point regarding inflation is that conditions have not been deteriorating, just hanging below target, on balance for me the data have been encouraging and affirm that the economy has been growing at a moderate pace. "
  • "I believe the economy is sustaining sufficient momentum to substantially achieve the (Fed's) monetary policy objectives in an acceptable medium-term time horizon."
  • "We have been relying extensively on consumer appetite."
  • "I would certainly like to see the fiscal side step up to some real serious deliberations of what can be done."
  • "I do not want to encourage the view that the (Federal Open Market Committee) or the Fed is in any serious way considering negative interest rates for this economy."

Pierre Mendelsohn
(CEO, ALPIMA)

 

 

Tiburon CEO Summit XXXII
Speaker
Pierre Mendelsohn
(CEO, ALPIMA
)


 

 

 

 

 

 

 

Pierre Mendelsohn is CEO of ALPIMA. Mr. Mendelsohn founded ALPIMA in October 2014 to give professional & institutional investors a new service and investment experience. Alpima is a new generation digital platform focused on systematic investing and asset allocation. Mr. Mendelsohn is passionate about science & technology, and how they can make finance better for investors. Prior to joining ALPIMA, Mr. Mendelsohn spent twenty years on the trading floors of leading investment banks in New York, London, and Hong Kong. Before founding Alpima, Mr. Mendelsohn was an MD with Morgan Stanley. He previously worked with Merrill Lynch, Bankers Trust & more.

Mr. Mendelsohn’s recent comments have included:

  • "Competition, for us, is the best way to fight and to keep working very hard, keep building, & keep winning."
  • "The digital transformation of money management is real."
  • "The problem in this industry is that huge amounts of money is spent building single purpose objects."
  • "Do a good job. Execute. Satisfy your clients."
  • "Replicating robo-advisory models is not our aim – the aim is to give our clients something they don’t already have."

Herbert Moore
(CEO, Wise Banyan)

 

 

Tiburon CEO Summit XXXII
Speaker
Herbert Moore
(CEO, Wise Banyan
)


 

 

 

 

 

 

 

Herbert Moore is CEO and Co-Founder of Wise Banyan. Prior to founding Wise Banyan, Mr. Moore founded Archipelago capital Management. Mr. Moore also held various positions at Ansbacher Investment Management and Azimuth Trust. Mr. Baynan received his master’s degree in Engineering from Stanford University.

Mr. Moore’s recent comments have included:

  • "We really liked the idea of putting down roots with your money and laying the groundwork for future financial success."
  • "The ETF market has really improved in the past ten years and we’re very fortunate to be able to benefit from that and have our clients benefit tremendously from it as well."
  • "Diversification will certainly bring down the volatility in your portfolio in the long run, but as ETFs become more broadly diversified and efficient, I think there is a case to be made that some of them can be combined into a single allocation."
  • " Annuities is something we will likely stay away from simply because they’re a high-fee financial product."
  • "….I don’t see the robo-advisors as putting traditional interactive brokers out of business. I see this as an evolving way for people to manage the core of their portfolio, the people who have decided that passive, low-cost indexing is the way to go, which we genuinely believe."

David Musto
(President, Great-West Investments)

 

 

Tiburon CEO Summit XXXII
Speaker
David Musto
(President, Great-West Investments
)


 

 

 

 

 

 

 

David Musto is President of Great-West Investments. Mr. Musto previously served as Chief Executive Officer for JP Morgan Chase & Company Retirement Plan Services and Senior Vice President at Prudential Retirement. Mr. Musto joined JP Morgan Chase & Company in 2007 where he led the firm’s effort to serve investment and support needs of plan sponsor clients, retirement platforms and intermediary partners. Mr. Musto has over 25 years of experience in the benefits and retirement industry

Mr. Musto’s recent comments have included:

  • "We see a big opportunity to take our strong product sets and bring them in the marketplace to help institutions and individuals not directly served by our businesses."
  • "That market is evolving as customers show interest in passive versus active management and multi-manager solutions."
  • "Managed accounts are able to tailor asset allocation to individuals, and are therefore better suited than target-date funds for some, especially for near-retirees, who may have more complex situations."
  • "Our new organization will build upon some well-established resources and capabilities that will work closely together to create some leading edge investment solutions."
  • "Like other record keepers in the marketplace, we recognized that over the next three to five years, there is going to be a major transformation in the underlying technology that supports this industry."

Adrian Nazari
(CEO, Credit Sesame)

 

 

Tiburon CEO Summit XXXII
Speaker
Adrian Nazari
(CEO, Credit Sesame
)


 

 

 

 

 

 

 

Adrian Nazari is CEO & founder of Credit Sesame, a lending consumer credit and personal finance website that provides millions of consumers access to free student loan management, free credit scores, free credit monitoring, free credit and identity protection and better ways to save money and manage their finances. Prior to Credit Sesame, Mr. Nazari was founder and CEO of Financial Crossing and Financial Circuit.

Mr. Nazari’s recent comments have included:

  • "We are especially proud that our loan analytics and recommendations engine has identified total annualized savings of more than $600 million for our customers. These savings profoundly impact people's lives."
  • "There are many financial consequences of breaking your lease from losing your deposit, to having to pay rent for the months remaining on the lease after you move out. If you can wait to move until your lease is up, it can save you a lot of money."
  • "I think free ID theft protection is a game changer. A good analogy would be early access to the Internet. At first, consumers had to pay for Internet by the minute. A revolution took place when newer companies began to offer it on a monthly subscription basis which disrupted everything for the established Internet providers. Offering free ID theft protection instead of the standard pay-a-monthly-fee model has the potential to disrupt the ID protection industry in the same way."
  • "If you normally shop at high-end stores and regularly pay off your card and suddenly start shopping at discount stores and carrying a balance, the lender could use this behavior data as an indicator that you have become higher risk and could take measures to minimize its exposure."
  • "Pay your bills on time, keep debt balances low, open accounts only when necessary to avoid excessive inquiries on your credit report."

Shirl Penney
(CEO, Dynasty Financial Partners)

 

 

Tiburon CEO Summit XXXII
Speaker
Shirl Penney
(CEO, Dynasty Financial Partners
)


 

 

 

 

 

 

 

Shirl Penney is CEO of Dynasty Financial Partners. Mr. Penney founded Dynasty Financial Partners in 2010 to improve the financial advisor model by building a service platform that allows advisors to do more with client, grow their business more efficiently, and minimize conflict. Prior to Dynasty Financial Partners, Mr. Penney worked for Slomon Smith Barney and Citigroup.

Mr. Penny’s recent comments have included:

  • "I wouldn’t call it a break-away trend, I would call it a break-away movement."
  • "We do not have any professional capital and we think this is a competitive advantage in some ways."
  • "Dynasty is leading the way in disrupting the traditional wealth management space."
  • "A lot of advisors want to be independent but they don’t want to be alone."
  • "Part of why we started Dynasty was to help address issues around financial health, and we have always believed that delivering more independent advice is helpful to evolving more sustainable and positive financial health for individuals and institutions."

Steve Piaker
(Managing Director, Napier Park Global Capital)

 

 

Tiburon CEO Summit XXXII
Speaker
Steve Piaker
(Managing Director, Napier Park Global Capital
)


 

 

 

 

 

 

 

Steve PIaker is Managing Director at Napier Park Global Capital. Prior to joining Napier Park Global Capital, Mr. Piaker was a Managing Partner at CCP Equity Partners. In addition, Mr. Piaker was a founding member of the financial institutions group within GE Capital Corporation’s leveraged buyout division and began his career with Chase Manhattan Corporation.

Mr. Piaker’s recent comments have included:

  • "We seek opportunities where we can partner with management teams and provide the resources and deep expertise in financial services to enable innovative growth companies with technology-enabled services to reach their full potential."
  • "It’s all about an omni-channel experience & meeting our customers to make solutions."
  • "We are pleased to have once again partnered with the management team led by Mitch Caplan and Larry Greenberg to build a truly innovative financial services business. Our successful collaboration with them and our co-investors is a clear demonstration of the execution of this strategy."
  • "Sell to a strategic or go public; the market has gotten so much more interesting."
  • "With so much capital out there, it makes the financial services industry so much better."

Larry Raffone
(CEO, Financial Engines )

 

 

Tiburon CEO Summit XXXII
Speaker
Larry Raffone
(CEO, Financial Engines
)


 

 

 

 

 

 

 

Larry Raffone is CEO of Financial Engines. Mr. Raffone has served as President, Chief Executive Officer, and director of Financial Engines since January 2015. Since 2012, Mr. Raffone has held numerous positions with Financial Engines. Prior to joining Financial Engines, Mr. Raffone served as the executive vice president of Fidelity Investments Institutional Brokerage Group.

Mr. Raffone’s recent comments have included:

  • "Today gets in the way of tomorrow."
  • "Robos are a capability, not a business."
  • "For the next twenty years, we are going to be helping more people better manage their financial lives today, up to and through retirement — regardless of their income or account balance."
  • "We are broadening our focus beyond retirement."
  • "By leveraging Financial Engine's scalable advice technology to power The Mutual Fund Store’s services and in-person advisors, we believe we will be able to make high-quality investment advice and comprehensive financial planning available to everyone with access to our services through their employer."

Len Reinhart
(CEO, WealthCare Capital Management)

 

 

Tiburon CEO Summit XXXII
Speaker
Len Reinhart
(CEO, WealthCare Capital Management
)


 

 

 

 

 

 

 

Len Reinhart is CEO of WealthCare Capital Management. Mr. Reinhart is also serving on the Board of Directors of Wheelhouse Analytics, and Lifeyield. Mr. Reinhart has three decades of experience and innovation. Prior to joining WealthCare Capital Management, Mr. Reinhart founded Lockwood and held various positions at Pershing, Smith Barney, and EF Hutton.

Mr. Reinhart’s recent comments have included:

  • "Big data is going to be the death bill for the investment advisor."
  • "The more data we get, the better, but you don’t have to start with 60 questions like a financial plan."
  • "We see the industry asking itself what is next, how do we add more value? It is a situation similar to what happened when discount brokerage appeared on the scene."
  • "The big change is that Baby Boomers, as they prepare to retire…are asking whether they have enough money... No one knows the answer to that—what we have built doesn’t give the answer."
  • "In terms of visible wealth, they are, indeed, millionaires, but they are not rich because they have to live off that $1.5 million for the next 30 years. So visible wealth has misled the Baby Boomer. Goals-based brings it back to reality."

John Rourke
(CEO, Starburst Labs)

 

 

Tiburon CEO Summit XXXII
Speaker
John Rourke
(CEO, Starburst Labs
)


 

 

 

 

 

 

 

Mr. Rourke is CEO and co-founder of Starburst Labs. As CEO of Starburst Labs, Mr. Rourke oversees the creation, development, and operations of web-and-mobile apps that are vertically aligned for investors, advisors, broker-dealers, and financial media brands. Prior to Starburst Labs, Mr. Rourke was CEO and cofounde of Upswing CRM and Bantam Live CRM.

Mr. Rourke’s recent comments have included:

  • "Those complimentary apps create content that comes down the funnel. And we are right on all of them, great. We’re basically treating marketing, instead of an expense, we are treating it as a market center."
  • "Our view is that competitive virtual trading products in the market are either too deeply embedded in a brokerage's online services or, too ugly, unimaginative, and neglected."
  • "The logic of which suggests if you’re a web developer working on a financial app that you’d also be able to dispense sound financial advice. It gives short shrift to the art and science of building SaaS apps."
  • "InvestorSay's software is tailored for these investing interactions to produce rich content and engagement between individual investors and financial professionals."
  • "Advizr and Wealthbox share a modern design sensibility in our respective products so this integration is a natural fit. We’re happy to enable it and honored to be the first CRM technology that Advizr chose to integrate with via the Wealthbox API."

Aaron Schumm
(CEO, Vestwell)

 

 

Tiburon CEO Summit XXXII
Speaker
Aaron Schumm
(CEO, Vestwell
)


 

 

 

 

 

 

 

Aaron Schumm is CEO of Vestwell. Mr. Schumm has over fifteen years of FinTech, FinServ, & wealth management experience. Prior to joining Vestwell, Mr. Schumm was co-founder of Actua and held various positions at Northern Trust, Citigroup, & Fiserv. Mr. Schumm received his MBA from Duke University.

Mr. Schumm’s recent comments have included:

  • "We have focused on working with the independent advisor and giving advisors the tools to help their clients in that space. So rather than knock on the doors of companies, we’re allowing the advisors to build on the relationships that they have in those areas of the country and service them in that same capacity but with better tools."
  • "Retirement savings is a $25 trillion market opportunity, which we think is still best served by financial advisors. Vestwell's mission is to provide advisors with a modern platform which reduces fees, increases transparency, and ensures compliance in a quickly shifting regulatory landscape."
  • "Most of the robo-advisors that are servicing the market are going after companies directly, knocking on the doors of businesses."
  • "With Vestwell, we’re focused on the vast majority of the population, the 75% of Americans whose only source of investment assets is their defined contribution or 401(k) plan. This is to help clients and everyone in the United States. I want everyone in the United States that works for a company to have the ability to have a retirement program either for themselves or their employees."
  • "We help guide people into the appropriate plan based on who they are and what their company actually is. So there’s flexibility in what we offer, but we try to narrow the focus in a guided approach."

Ian Sheridan
(Managing Director, Vestigo Ventures)

 

 

Tiburon CEO Summit XXXII
Speaker
Ian Sheridan
(Managing Director, Vestigo Ventures
)


 

 

 

 

 

 

 

Ian Sheridan is Managing Director and Co-Founder of Vestigo Ventures. Mr. Sheridan has more than 25 years of experience in business startup, turnaround, growth, and innovation. Prior to co-founding Vestigo Ventures, Mr. Sheridan held various positions at SunGard Financial Systems, DST Systems, and others. Mr. Sheridan began his career at the NYSE.

Mr. Sheridan’s recent comments have included::

  • "LifeYield is the undisputed leader in pioneering and delivering tax-smart investing solutions across multiple accounts."
  • "Just as we are in life sciences, we should be in fintech."
  • "There are big problems and challenges and friction points in financial services that can be solved with today’s technology…"
  • "The investor has clear expectations on how they want services [whether or not the investor is interested in robo-advisory or traditional relationships]…they [investors] expect to find connectivity and intimacy. Control, the ability to research [on advisor and advisor words], and will validate… The ability to self-service is important, and validation of the crowd."
  • "Vestigo has been founded on the complementary strengths of our senior staff and advisory board. Our team has the unique mix of disciplines and experience needed to spot the most promising FinTech innovations."

Eric Sontag
(Chief Operating Officer, Sontag Advisory)

 

 

Tiburon CEO Summit XXXII
Speaker
Eric Sontag
(Chief Operating Officer, Sontag Advisory
)


 

 

 

 

 

 

 

Eric Sontag is Chief Operating Officer of Sontag Advisory. Mr. Sontag manages the general business practices and processes of the firm. Prior to joining Sontag Advisory, Mr. Sontag held positions at BlackRock and he began his career in the Portfolio Analytics Group. Mr. Sontag received his BA from Cornell University in Economics and Sociology.

Mr. Sontag’s recent comments have included:

  • "Segmentation is about firm profitability, not the personal client experience."
  • "Without a password manager, many of the steps we recommend below become nearly impossible and/or highly inconvenient."
  • "Use "dual factor or multi factor authentication to the greatest degree possible, and especially in conjunction with the aforementioned password manager."
  • "You should only share passwords orally or via a password manager with a sharing feature. Text messages, while not ideal, are still preferable to email."
  • "Do not click any email links to access your bank’s website or any other online account."

Tom Staudt
(Interim Chief Operating Officer, ARK Investment Management)

 

 

Tiburon CEO Summit XXXII
Speaker
Tom Staudt
(Interim Chief Operating Officer, ARK Investment Mangement
)


 

 

 

 

 

 

 

Tom Staudt is the Interim Chief Operating Officer for ARK Investment Management. Mr. Staudt manages and oversees the daily operations of the firm. Prior to joining ARK Investment Management, Mr. Staudt worked for WILX-TV, and NBC affiliated television station for Central Michigan and Fidelity. Mr. Staudt received his Master of Business Administration from Cornell University.

Mr. Staudt’s recent comments have included:

  • "Millennials do not see the world the same way the baby boomers do, with traditional sector lines and geographic boundaries and style boxes for value and growth."
  • "Innovation is the key to growth. We are not bound by a benchmark. We are not bound by an index"
  • "We’ve seen this rise of active investing, and that has become a term that has definitely become muddied."
  • "When you’re looking at tactile and rapidly changing spaces, these are spaces that don’t look the same today that they did yesterday."
  • "ETFs are far more in line with the millennial lifestyle and mindset. They’re used to getting their news in real time on Twitter. That same mentality carries over into how they view the rest of the world, financial markets included."

Angie Stephenson
(Chief Operating Officer, ParenteBeard Wealth Management)


Tiburon CEO Summit XXXII
Speaker
Angie Stephenson
(Chief Operating Officer, ParenteBeard Wealth Management
)

Angie Stephenson is the Chief Operation Officer of ParenteBeard Wealth Management, a Partner and Senior Wealth Advisor. As the Chief Operation Officer, she oversees the firm’s operations and practice. Ms. Stephenson is a member of the firm’s executive team and looks for acquisition opportunities. She is directly involved in transitioning the acquired firms and advisors into the team of ParenteBeard Wealth Management.

Ms. Stephenson’s recent comments have included:

  • "Accounting firms don’t like to spend money to buy practices."
  • "We don’t know if our acquisition will be as successful if we didn’t already have the foot print in our mind that we want to continue expanding there."
  • "We have encountered the millennial generation and learned how they would like to work, they don’t want to work like how we used to work, they want to be informed and empowered without giving them orders what to do."
  • "Retirement savings can be affected when unemployed adult children settle for lower paying jobs or choose not to care for their own children."
  • "Many individuals pay for their children's college education in full, and in some cases, even use their own retirement funds to pay for these education expenses. It is important to remember not to jeopardize your own retirement."

David Stone
(CEO, ARIA Retirement Solutions)

 

 

Tiburon CEO Summit XXXII
Speaker
David Stone
(CEO, ARIA Retirement Solutions
)


 

 

 

 

 

 

 

David Stone is CEO of Aria Retirement Solutions and co-founded Aria Retirement Solutions in 2009. Mr. Stone has more than two decades of financial services experience as well as specific expertise in annuity product development and distribution. Prior to co-founding Aria Retirement Solutions, Mr. Stone was chief legal counsel for all of Charles Schwab’s insurance and risk management initiatives.

Mr. Stone’s recent comments have included:

  • "ARIA is promising for macro reasons. If you look at the demographic factors, recent events in the financial markets, and the state of people’s personal balance sheets, there are a lot of forces moving in favor of this."
  • "Five to ten years before and after retirement, sequence of return risk is by far the biggest concern most retirees have."
  • "What we really want to get people familiar with is the idea of insuring that risk period: get out of that period with their portfolio and their income stream in good shape, and decide themselves if they want to move forward without a guaranteed income solution."
  • "The goal here is to get the client to be self-insured at an age where they feel they can have their assets last their entire life and then take it off and there’s no tax impact."
  • "We have see it’s really impossible if a client wants to retire at a certain age — you can’t ignore the market and the timing of that. There is little an advisor can do to ultimately guarantee an outcome for the client if the markets are volatile when they want to retire."

Jerry Szilagy
(CEO, Catalyst Capital Advisors)

 

 

Tiburon CEO Summit XXXII
Speaker
Jerry Szilagy
(CEO, Catalyst Capital Advisors
)


 

 

 

 

 

 

 

Jerry Szilagyi is CEO and co-founder of Catalyst Capital Advisors. Mr. Szilagyi was active as a consultant and investment banker in the financial services industry. Prior to co-founding Catalyst Capital Advisors, Mr. Szilagyi was CEO of Thomas Lloyd Global Asset Management.

Mr. Szilagy’s recent comments have included:

  • "This battle between active and passive isn’t necessarily a battle between the two, it’s between fees. It is a zero sum game."
  • "The lines between active and passive are very blurry. It was very straightforward before, but now, especially in the ETF space, everyone is creating their own index."
  • "We have had a pretty unprecedented market run here, & the volatility is at record lows… This is the type of market that is the worst type of environment for the fund."
  • "The worst environment is a rapidly rising market with falling volatility. It is not unusual for the strategy. We have been very consistent in communicating that."
  • "This type of market, rapidly rising prices with low and falling volatility, is the exact thing the fund is positioned against."

Mark Tibergien
(CEO, Pershing Advisor Solutions)

 

 

Tiburon CEO Summit XXXII
Speaker
Mark Tibregien
(CEO, Pershing Advisor Solutions
)


 

 

 

 

 

 

 

Mark Tibergien is CEO of Pershing Advisor Solutions. Mr. Tibergien is also Managing Director for Pershing and a member of its Executive Committee and BNY Mellon’s Senior Leadership Team. Mr. Tibergien has worked with public and private companies on matters related to business management, transition planning, & strategy formulation since 1976. Prior to joining Pershing, Mr. Tibergien held positions in Moss Adams, Management Advisory Services, & more.

Mr. Tibergien’s recent comments have included:

  • "There’s an oversupply of buyers and an undersupply of sellers."
  • "You have to ask the question, why are young people not attracted to this business?"
  • "What we begin to recognize is that this is a business fundamentally built by and for boomers. The way it sits today is for and by boomers. The boomers are retiring at rapid rates today, and those of you who are still building tanks and bazookas have to be thinking about your business differently, because it isn't a boomer business for long."
  • "Young people want the opportunity to grow—compensationis not the goal of their career growth."
  • "So I think that one of the things I would say has really been transformational over the past decade is this notion of taking a more professional attitude about management, where the better firm’s conscious of what their strategy is and they manage to that goal, where they organize their business around their vision and their strategy."

Doug Trott
(CEO, PriceMetrix)

 

 

Tiburon CEO Summit XXXII
Speaker
Doug Trott
(CEO, PriceMetrix
)


 

 

 

 

 

 

 

Doug Trott is CEO of PriceMetrix. Mr. Trott co-founded PriceMetrix in 2000, brining eighteen years of strategy consulting experience in the retail and wholesale financial services. Mr. Trott focuses on client development and growth of PriceMetrix, setting the company’s strategic direction in meeting the evolving needs of North American brokerage and Wealth Management firms. Prior to co-founding PriceMetrix, Mr. Trott founded the Taddlingstone Consulting Group and began his consulting career at Oliver, Wyman.

Mr. Trott’s recent comments have included:

  • "From the standpoint of client retention, a strategy of moving to a hybrid model, encompassing both fee-based and transactional business, may be better for advisors than one type of account over the other."
  • "Our objective was to provide a reference for both financial advisors and investors to have a clear idea about what is reasonable to pay for an equity trade."
  • "Discussing commissions with clients has always given [clients] anxiety."
  • "Servicing fewer clients with a more comprehensive offering lets advisors not only better serve their existing clients, but also frees up capacity to prospect the right clients to grow their business."
  • "The windows close from large banks if you are small."

Nic Volpi
(Partner, Permira Advisers)

 

 

Tiburon CEO Summit XXXII
Speaker
Nic Volpi
(Partner, Permira Advisers
)


 

 

 

 

 

 

 

Nic Volpi is Partner of Permira. Mr. Volpi is a member of the Financing Group and has worked numberous transactions. Prior to joining Permira, Mr. Volpi spent years at Bera Capital Partners, Index Securities in Geneva, and the Financial Institutions Group at Merill Lynch.

Mr. Volpi’s recent comments have included:

  • "Using robos & DIY is disruptive --it will lower margins overtime, but it's important to overlay with the human touch."
  • "When you’re dealing with money, it’s about trust. If you have a platform without a human face on it- how do you build trust?"
  • "The more growth there is, the less leverage you need to make a return."
  • "If you buy a high quality business, even at the high quality multiple, you’re still going to turn out fine."
  • "I think we have only really touched the surface of what this will mean for Renaissance."

Edmond Walters
(Founder, eMoney Advisor)

 

 

Tiburon CEO Summit XXXII
Speaker
Edmond Walters
(CEO, eMoney Advisor
)


 

 

 

 

 

 

 

Edmond Walters is the founder of eMoney Advisor, a wealth planning and management solutions provider for financial advisors. Mr. Walters founded eMoney Advisor in 2002 and spent more than twenty years in the financial services industry. Prior to founding eMoney Advisor, Mr. Walters was associated with Kistler, Tiffany, & Company and Wharton Business Group.

Mr. Walters’ recent comments have included:

  • "My vision seven years ago was to create a first-class company with ground-breaking new technology that would set a new standard for advisor and client relations. We will continue to lead the sector and help advisors deliver the best quality of service that their clients deserve."
  • "Fidelity is a bunch of Boy Scouts… They would not be in business if they used advisor and client data inappropriately."
  • "Publicly held companies in our industry are living quarter to quarter… They are trying to make Wall Street happy."
  • "The recent launch of our redesigned tool emX prompted us to reevaluate the way we serve the needs of our clients."
  • "Ours is a business built on relationships. Reputation is everything, and eMoney’s entire team works hard to make sure that the best interests of our clients are always our top priority."

Elliot Weissbluth
(CEO, HighTower)

 

 

Tiburon CEO Summit XXXII
Speaker
Elliot Weissbluth
(CEO, HighTower
)


 

 

 

 

 

 

 

Elliot Weissbluth is CEO of HighTower, a national advisor-owned financial services company serving high net worth and institutional clients. Prior to HighTower, Mr. Weissbluth was the president of US Fiduciary, a boutique broker dealer, and director of marketing & research at Rogers Casey, one of the nation's leading investment research and institutional registered investment advisory firms. Mr. Weissbluth was ranked second on RIAbiz’s 2012 list of most influential figures in the RIA Business and was included on InvestmentNews’ 2012 power twenty list and Investment Advisor’s list of top 25 most influential people in the financial services industry in 2012 & 2013. Mr. Weissbluth serves on a number of for profit and non-profit boards, notably as a Trustee of Interlochen, Center for Performing Arts in Michigan.

Mr. Weissbluth’s recent comments have included:

  • "The reality is you place the pricing on the value, & not the revenue."
  • "The optimal financial services firm leverages the competitive spirit of Wall Street, bringing the cream to the top, and does that inside an independent fiduciary service model, which is optimal to the individual investor."
  • "The key learning is those financial advisor that don’t try to do it alone will grow faster… the more you can outsource to just focus on the client, the fast you grow."
  • "The problem is that if you land as a client at one of the Wall Street firms, you only get access to that particular firm’s good ideas. Those firms are not set up to benefit the clients’ interests first, but to benefit the firm. The firms are more interested in their own profitability than in the benefits of the client."
  • "90% of investors do not understand what a fiduciary duty is, but they think they are getting it from a broker while they are not."


Attendees

Tiburon is pleased to announce that the following 209 Tiburon clients attended Tiburon CEO Summit XXXII:

  • Chip Roame (Managing Partner, Tiburon Strategic Advisors)
  • Ron Albahary (Chief Investment Officer, Threshold Group)
  • Mark Albers (CEO, Albers & Associates Consulting)
  • Mike Alfred (CEO, BrightScope)
  • Ryan Alfred (President, Brightscope)
  • Mike Apker (Executive Vice President, Envestnet)
  • Daniel Applegarth (Chief Financial Officer, NorthStar Financial Services Group)
  • Anil Arora (CEO, Envestnet Yodlee)
  • David Bach (Co-Founder, AE Wealth Management)
  • Robb Baldwin (CEO, Trade PMR)
  • Jeremy Baskin (CEO, Axa Rosenberg)
  • Steven Begleiter (Managing Director, Flexpoint Ford)
  • Jud Bergman (CEO, Envestnet)
  • Brad Bernstein (Managing Partner, FTV Capital)
  • Paul Bigler (Chief Operating Officer, FallLine Securities)
  • Scott Billups (Chief Financial Officer, FTJ FundChoice)
  • Phil Blancato (President, Ladenburg Thalmann Asset Management)
  • Jack Bogle (Founder, The Vanguard Group)
  • Rod Boutin (General Counsel, FP Transitions)
  • Stuart Bowers (President, DST Brokerage Solutions)
  • Josh Brown (CEO, Ritholtz Wealth Management)
  • Brad Bueermann (CEO, FP Transitions)
  • John Bunch (President, Financial Engines Advisors
  • Brad Burgess (Chief Technical Officer, Orion Advisor Services)
  • Brian Burns (President, InvestEdge)
  • Roy Burns (Managing Director, TA Associates)
  • Dewey Bushaw (Executive Vice President, Retirement Solutions Division, Pacific Life Insurance Company)
  • Don Calcagni (Chief Investment Officer, Mercer Advisors)
  • Lawrence Calcano (CEO, iCapital Network)
  • David Callanan (Co-Founder, Advisors Excel)
  • Bruce Cameron (Co-CEO, Berkshire Capital Securities)
  • Rich Cancro (CEO, AdvisorEngine)
  • Bill Capuzzi (CEO, Apex Clearing Corporation)
  • Tim Carroll (CEO, New York Private Trust Company)
  • Jerry Chafkin (Chief Investment Officer, AssetMark)
  • Rene Chaze (Chief Operating Officer, Edelman Financial Services)
  • Roman Ciosek (Partner, HighTower Westchester)
  • Bernie Clark (Executive Vice President, Advisory Services, The Charles Schwab Corporation)
  • Eric Clarke (CEO, Orion Advisor Services)
  • Todd Clarke (CEO, CLS Investments)
  • Frank Coates (CEO, Wheelhouse Analytics)
  • David Conover (CEO, EverBank Wealth Management)
  • John Coyne (Vice Chairman, Brinker Capital)
  • Ben Cukier (Managing Partner, Centana Growth Partners)
  • Robert DeChellis (President, Allianz Life Financial Services)
  • Stuart DePina (President, Envestnet Tamarac)
  • Nikesh Desai (CEO, Investing Channel)
  • Peter deSilva (President, Scottrade Financial Services)
  • Damian DeSola (Principal, The DeSola Group)
  • Dave DeVoe (Managing Partner, DeVoe & Company)
  • Ryan Diachok (President, Geneos Wealth Management)
  • Lisa Dolly (CEO, Pershing)
  • Bryan Dori (CEO, Archer)
  • Tom Dorsey (Founder, Dorsey, Wright, & Associates)
  • Stephane Dubois (CEO, Xignite)
  • Danny Dunn (Chief Revenue Officer, Morningstar)
  • Ric Edelman (Executive Chairman, Edelman Financial Services)
  • Rob Foregger (Executive Vice President, NextCapital)
  • Mark Friedenthal (CEO, Tolerisk)
  • John Gabbert (Founder, Pitchbook Data)
  • Chris Gaffney (President, World Markets, EverBank Financial)
  • George Gatch (CEO, Investment Management Americas, JP Morgan Chase & Company)
  • Jane Gladstone (Senior Managing Director, Evercore Partners)
  • Mark Goldberg (President, Carey Financial)
  • Charles Goldman (CEO, AssetMark)
  • Lynne Goldman (Chief Administrative Officer, Fidelity Institutional Asset Management)
  • Jeffrey Goldstein (Senior Advisor, Hellman & Friedman)
  • Craig Gordon (Chief of Strategic Development, RBC Correspondent & Advisor Services)
  • Jay Gragnani (Executive Vice President, Dorsey, Wright, & Associates)
  • Chris Gray (Leader, New South Wales Wealth Management Macquarie Group)
  • Kyle Griswold (Partner, FTV Capital)
  • Scott Hanson (Co-CEO, Hanson McClain)
  • Matt Harris (Managing Director, Bain Capital Ventures)
  • Tim Harrison (CEO, Harrison Financial Services)
  • Neesha Hathi (Executive Vice President, The Charles Schwab Corporation)
  • Edward Hayes (Managing Partner, Spouting Rock Financial Partners)
  • Tim Heier (Chief Technology Officer, The Charles Schwab Corporation)
  • Bob Herrmann (CEO, Discovery Data)
  • Anton Honikman (CEO, MyVest Corporation)
  • Joe Hosler (Founding Partner, Auour Investments)
  • Kevin Hughes (Executive Vice President, Money Guide Pro)
  • Johnny Huh (Global Investment Strategies, Homaer Financial)
  • Lisa Hunt (Executive Vice President, International Services & Special Business Development, The Charles Schwab Corporation)
  • Dave Hutchinson (CEO, HCG & Associates)
  • Karl Jaeger (Chief Financial Officer, Strategic Insight)
  • Peter Jantzen (Executive Vice President, Global Sales, Vestmark)
  • Rob Johnston (Business Head, Wealth Advisory, Macquarie Group)
  • Nancy Jones (Chief Marketing Officer, Allianz Life Insurance Company of North America)
  • Jim Joslin (CEO, TFC Financial Management)
  • Kunal Kapoor (CEO, Morningstar)
  • Carl Katerndahl (Senior Executive Vice President, Global Retail, Nuveen Investments)
  • Craig Katz (Executive Vice President, Discovery Data)
  • Lewis Katz (Chief Business Development Officer, FS Investments)
  • Kevin Keefe (CEO, First Allied Securities)
  • Meg Kelleher (Executive Vice President, Sales & Relationship Management, Fidelity Institutional Wealth Services)
  • Kevin Keller (CEO, Certified Financial Planner Board of Standards)
  • Mike Kelly (Chief Investment Officer, FS Investments)
  • Pete Kirtland (CEO, Aspire Financial Services)
  • Rob Klapprodt (President, Vestmark)
  • Aaron Klein (CEO, Riskalyze)
  • Chelsea Kmiecik (Chief Marketing Officer, Discovery Data)
  • Matthias Kuhlmey (Partner, Kuhlmey Group)
  • Randy Lambert (President, Orion Advisor Services)
  • Mike LaMena (President, HighTower)
  • Stephen Langlois (Business Head, Strategic Business Development, Fidelity Wealth Technologies)
  • Doug Lennick (CEO, Think 2 Perform)
  • Dennis Lockhart (Former President, Federal Reserve Bank of Atlanta)
  • Jeff Lovell (Co-Chairman, Lovell Minnick Partners)
  • John Lunny (CEO, Vestmark)
  • Kurt MacAlpine (Executive Vice President, Wisdom Tree Investments)
  • Ron Madey (President, Wealthcare Capital Mangement)
  • Kevin Mahn (President, Hennion & Walsh Asset)
  • Joel Mandelbaum (CEO, Strategic Insight)
  • Brooks Marston (Chief Operating Officer, Cantella & Company)
  • Josh Mayer (Chief Operating Officer, Envestnet)
  • Gerry McGraw (Chief Financial Officer, Fidelity Institutional)
  • James Mendelsohn (Chief Marketing Officer, Edelman Financial Services)
  • Pierre Mendelsohn (CEO, ALPIMA)
  • Dan Michaeli (CEO, SaleMove)
  • John Michel (CEO, CircleBlack)
  • Mike Miller (Chief Operating Officer, Advisors Excel)
  • Jim Minnick (Co-Chairman, Lovell Minnick Partners)
  • Steven Miyao (President, DST Kasina)
  • Viggy Mokkarala (Executive Vice President, Strategic Business Development, Envestnet)
  • Herbert Moore (CEO, Wise Banyan)
  • David Musto (President, Great-West Investments)
  • Adrian Nazari (CEO, Credit Sesame)
  • Brian Nielsen (CEO, Northern Lights Distributors)
  • Pam Norley (President, Fidelity Charitable)
  • Wendu Nwakanma (Executive Vice President, InvestCloud)
  • Ed O'Brien (CEO, eMoney Advisor)
  • Curt Olson (Executive Vice President, Institutional Accounts, PIEtech)
  • Bob Oros (CEO, HD Vest Financial Services)
  • Josh Pace (CEO, Trust Company of America)
  • Blakely Page (Managing Partner, Spouting Rock Financial Partners)
  • Russell Parker (President, RPM Distribution)
  • Ryan Parker (CEO, Edelman Financial Services)
  • Bill Parsons (Chief Customer Officer, Yodlee)
  • Heeren Pathak (Chief Technology Officer, Vestmark)
  • Jim Patrick (Executive Vice President, Envestnet)
  • Shirl Penney (CEO, Dynasty Financial Partners)
  • Don Phillips (Managing Director, Morningstar)
  • Steve Piaker (Co-Business Head, Financial Partners, Napier Park Global Capital)
  • Steve Pierson (President, Lovell Minnick Partners)
  • Rob Pinkerton (Chief Marketing Officer, Morningstar)
  • Ryan Porter (Executive Vice President, Riskalyze)
  • Alex Potts (CEO, Loring Ward Group)
  • Lowell Putnam (CEO, Quovo)
  • Matt Radgowski (Chief Operating Officer, Morningstar Investment Management)
  • Kevin Rafferty (CEO, Vertical Management Systems)
  • Larry Raffone (CEO, Financial Engines)
  • Dean Rager (President, Geneos RIA)
  • Eric Rahe (Managing Director, JC Flowers & Company)
  • Glenn Reed (Managing Director, The Vanguard Group)
  • Len Reinhart (CEO, Wealthcare Capital Management)
  • Todd Roadman (CEO, Fidelity Clearing Canada)
  • Noni Robinson (Business Head, Banks, Insurance Companies, & Institutions Channel, Financial Advisor Services, The Vanguard Group)
  • Tony Rochte (President, SelectCo Division, Fidelity Asset Management)
  • Andrew Rogers (CEO, Gemini Fund Services)
  • Scott Romine (CEO, National Planning Holdings)
  • Rich Rosenbaum (Partner, Aquiline Capital Partners)
  • Gary Roth (Executive Vice President, United Capital Financial Partners)
  • Tricia Rothschild (Chief Product Officer, Morningstar)
  • John Rourke (CEO, Starburst Labs)
  • Andrew Rudd (CEO, Advisor Software)
  • Scott Ruddick (Chief Marketing Officer, Advisor Partners)
  • Larry Rybka (President, Valmark Securities)
  • Tony Salewski (Managing Director, Genstar Capital)
  • Paul Schaeffer (Advisor, Aquiline Capital Partners)
  • Abby Schneiderman (Co-CEO, EverPlans)
  • Aaron Schumm (CEO, Vestwell)
  • Skip Schweiss (President, TD Ameritrade Trust Company)
  • Adam Seifer (Co-CEO, EverPlans)
  • Jim Seuffert (Senior Partner, Wheelhouse Analytics)
  • Sterling Shea (Associate Publisher, Advisory & Wealth Management Programs, Barron's)
  • Ian Sheridan (Managing Director, Vestigo Ventures)
  • Babu Sivadasan (President, Envestnet Retirement Solutions)
  • Eric Sontag (Chief Operating Officer, Sontag Advisory)
  • Karl Sprules (Chief Technology Officer, AB Global)
  • Tom Staudt (Interim Chief Operating Officer, ARK Investment Management)
  • Noel Stave (Chief Operating Officer, RBC Correspondent & Advisor Services)
  • Angie Stephenson (Chief Operating Officer, ParenteBeard Wealth Management)
  • Jon Stern (Partner, Berkshire Capital Securities)
  • Brian Stimpfl (Business Head, Scottrade Advisor Services, Scottrade Financial Services)
  • Dave Stone (CEO, Aria Retirement Solutions)
  • John Straus (CEO, FallLine Strategic Advisors)
  • Steve Swain (Managing Partner, Centana Growth Partners)
  • Ed Swenson (Chief Operating Officer, Dynasty Financial Partners)
  • Marie Swift (CEO, Impact Communications)
  • Jerry Szilagyi (CEO, Catalyst Capital Advisors)
  • Jason Thomas (CEO, Savos Investments)
  • Brett Thorne (Business Head, RBC Correspondent & Advisor Services, RBC Capital Markets)
  • Mark Tibergien (CEO, Pershing Advisor Solutions)
  • Doug Trott (CEO, PriceMetrix)
  • Frank Trotter (Chairman, EverBank Global Markets)
  • Mark Trousdale (Executive Vice President, InvestCloud)
  • Paul Uhlman (President, Federated Securities Corporation)
  • Rusty Vanneman (Chief Investment Officer, CLS Investments)
  • Bob Verrico (Executive Chairman, Investing Channel)
  • Nic Volpi (Partner, Permira Advisors Limited)
  • Kendrick Wakeman (CEO, FinMason)
  • Edmond Walters (Founder, eMoney Advisor)
  • Elliot Weissbluth (CEO, HighTower)
  • Dave Welling (Co-Business Head, Advent Software, SS&C Technologies)
  • Craig Wietz (President, First Rate)
  • Tom Williams (Partner, ParenteBeard Wealth Management)
  • Bill Wostoupal (President, Northern Lights Distributors)
  • Derek Young (Vice Chairman, Fidelity Institutional Asset Management)
  • Tom Zazueta (Chief Marketing Officer, Loring Ward Group)
   

Tiburon CEO Summit XXXI: October 10-12, 2016

Tiburon CEO Summit XXXI was held on October 10-12, at the Ritz Carlton Hotel in San Francisco, CA. Tiburon CEO Summit XXXI started at 7:45am on Monday, October 10, 2016, included a group dinner that night, and finished at 11:30am on Tuesday, October 11, 2016. Senior industry executives took two days out of their busy schedules to participate. There were over twenty sessions. Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXXI included speakers Walt Bettinger (CEO, The Charles Schwab Corporation), Ryan Beach (President, CLS Investments), Tom Bradley (President, Retail Distribution, TD Ameritrade), Len Brennan (CEO, Russell Investments), Alan Clopine (Co-CEO, Pure Financial Advisors), Todd Crockett (Managing Director, TA Associates), Mark Delfino (CEO, Hoyle Cohen), Stuart DePina (President, Envestnet Tamarac), Kyle Griswold (Partner, FTV Capital), Doug Hammond (CEO, NFP), Bob Heller (Former Governor, Federal Reserve Board, & Former CEO, Visa USA), Anton Honikman (CEO, MyVest Corporation), Chris Kitze (Partner, Crosslink Capital), Rob Klapprodt (President, Vestmark), Michael Kossman (Chief Operating Officer, Aspiriant), Bruce Lavine (CEO, 55 Capital Partners), Jim Lockhart (Vice Chairman, WL Ross & Company), Bo Lu (CEO, FutureAdvisor), Steve McLaughlin (Managing Partner, Financial Technology Partners), Nathan Mersereau (President, Planning Alternatives), Bob Moser (CEO, Laird Norton Wealth Management), Russ Norwood (Founding Partner, Venturi Wealth Management), Josh Pace (CEO, Trust Company of America), Lowell Putnam (CEO, Quovo), Kevin Rafferty (CEO, Vertical Management Systems), Steve Savage (CEO, Litman Gregory Asset Management), Skip Schweiss (President, TD Ameritrade Trust Company), Mike Sha (CEO, SigFig), Erik Strid (CEO, Concentus Wealth Advisors), Andy Swan (CEO, LikeFolio), Bill Van Dresser (Managing Partner, Legacy Wealth Advisors), Tom Wagner (Partner, Summit Wealth Group), Craig Wietz (President, First Rate), Jane Williams (Chairman, Sand Hill Global Advisors), John Wise (CEO, InvestCloud), & Justin Wisz (CEO, Vestorly).

Keynote Presentation

Tiburon CEO Summit XXXI featured a keynote presentation by Tiburon Managing Partner Chip Roame regarding the state of the financial services industry, focusing on the rapid evolution being driven all across the business value chain. This presentation served as the backdrop and overview of the entire Tiburon CEO Summit. 

 




 

 



Tiburon CEO Summit XXXI
Keynote Presenter
Chip Roame
Managing Partner
Tiburon Strategic Advisors

 

 

 

 

 

 

Chip Roame (Managing Partner, Tiburon Strategic Advisors)

Tiburon Strategic Advisors is pleased to provide a summary of the content of its Tiburon CEO Summit XXXI keynote presentations. Chip Roame (Managing Partner, Tiburon Strategic Advisors) gave a day #1 presentation broadly addressing the state of the financial services industry, with a specific focus on the growing wealth management market. He will also give a day #2 presentation addressing strategic activity within the industry.

Charles ("Chip") Roame is the Managing Partner of Tiburon Strategic Advisors and a leading strategic consultant to CEOs, other senior executives, & boards of directors in the banking, insurance, brokerage, & investment management markets. Prior to forming Tiburon in 1998, Mr. Roame served in similar capacities, first as a management consultant at McKinsey & Company, and later as a business strategist at The Charles Schwab Corporation. Mr. Roame is quoted daily throughout the media and, due to Tiburon's widely shared research, he may be the most frequently demanded board advisor. His particular expertise is that of corporate strategy for larger financial services firms, designing broad multi-faceted strategies and making trade-offs between alternative businesses, products, & markets.

Mr. Roame has responsibility for all of Tiburon's consulting, research, & marketing activities which keeps him on the leading-edge of strategic initiatives in the industry's fastest growing businesses -- exchange traded funds, hedge funds & other alternative investments, bitcoin & blockchain, financial planning, wealth management services, life insurance, annuities, family office services, online financial services, and the growing independent advisor markets. He has also taken a substantial interest in regulatory issues such as the fiduciary standard, and in financial services industry venture capital & private equity opportunities and mergers & acquisitions transactions. At Tiburon, Mr. Roame has led over 1,900 client engagements for over 450 corporate clients since 1998.

Mr. Roame has won numerous awards throughout the private equity, investment banking, consulting, and financial services industries, including being named one of the power 25 elite by Investment News, one of the 25 most influential individuals in the advisor business by Investment Advisor magazine, & one of the five experts with the answers by Boomer Market Advisor. Tiburon has also been named one of the fastest growing companies by the San Francisco Business Times in multiple years.

Mr. Roame is frequently sought as a board member by Tiburon client company boards. He presently serves as a board member at Envestnet (NYSE: ENV), as a board member of the parent company of Edelman Financial Services (Ric Edelman’s business backed by Hellman & Friedman), and as a trustee of the SA mutual funds family (which is sponsored by Loring Ward and employs Dimensional Fund Advisors as its sole sub-advisor).

Tiburon Managing Partner Chip Roame gave two keynote presentations at Tiburon CEO Summit XXXI.

Tiburon CEO Summit XXXI Day #1 Keynote Presentation Overview

The objectives of the Keynote Presentation were to anchor Tiburon CEO Summit discussion on consumers; offer a broad view of the wealth management industry (with a new theme at each Tiburon CEO Summit), with the theme at Tiburon CEO Summit XXXI being The Most Important Data Inflection Points; set a discussion agenda for Tiburon CEO Summit XXXI (framing the dozens of “three big points” and introduce 40+ speakers). The basis of the Tiburon CEO Summit XXXI Keynote Presentation is industry developments (“the news”), recent Tiburon & third-party research findings, the Tiburon CEO Summit XXXI attendee content survey, & Tiburon CEO Summit XXXI guest speaker presentations (and prior presentations).

The Future of Wealth Management: The Top Ten Industry Trends

Context Setting: Consumers & Their Money

Consumer households have $39.6 trillion investable assets, $61.3 trillion financial assets, $100.3 trillion total assets, and $85.6 trillion net worth. There are 10.1 million consumer households with over $1.0 million net worth, back above its prior peak of 9.2 million in 2007. Baby boomers will liquidate some portion of the $60.7 trillion in retirement plans, personal assets, & small businesses.

Discount Brokerage Firms

Discount brokerage firms changed the transaction pricing & value proposition; now underappreciated full-service financial advisors. Both the retail & financial advisor support models at both Fidelity Investments & The Charles Schwab Corporation are now amongst the leading financial advisor channels with assets under administration ranging from $1,107 billion to $1,522 billion. The wirehouse channel leads the financial advisor channels in average financial advisor assets under administration with $124.7 billion. Discount brokerage closely follows it with $110.1 billion in assets under administration.

Indexing & Exchange Traded Funds

Indexing & Exchange traded funds have changed the investment management pricing & value proposition. In 2015 investors pulled $207 billion out of actively managed funds & invested $414 billion into passive funds. In 2016 only fixed income mutual funds have positive net flows amongst actively managed mutual funds, with US equity funds in their third straight negative net flows years. Actively managed mutual funds have been losing share of assets under management to index mutual funds & exchange traded funds. Exchange traded funds have gathered $2.4 trillion assets under management, up from $1.0 billion in 1993. The Vanguard group had the largest inflows with $236.1 billion. PIMCO had the largest outflow with -$86.9 billion.

Robo Advisors

There are at least 51 online advice firms, up from 30 in 2009. All online advice firms have gathered $245.9 billion assets under management, up from $16.0 billion in 2007. Online advice firms' assets under management are dominated by the defined contribution focused firms. The leading online firms are the defined contribution plan focused firms & the large discount brokerage firms & mutual funds companies with Financial Engines leading with $114.5 billion assets under management. Tiburon CEO Summit attendees have become fare more aware of the online advice models when asked to name the most impressive.

Independent Advisors

Tiburon CEO Summit attendees continue to believe the role of financial advisors is gaining value to clients, although this view is declining. Tiburon CEO Summit attendees increasingly think the number of financial advisors will decrease or at best remain steady over the next five years. Tiburon CEO Summit attendees continue to say that the number of independent advisors will grow the fastest over the next five years.

Break-Away Brokers

Successful financial advisor teams that move an average of $344 million assets under administration in 2015 have remained relatively consistent since 2010. Successful financial advisor teams & financial advisors that moved in 2015 took $142 billion assets under administration, up from $77 billion in 2010. Tiburon CEO Summit attendees continue to believe that the break-away brokers trend will grow hugely or at least moderately over the next five years.

Hedge Funds & Liquid Alternatives

Hedge funds have gathered $2.7 trillion assets under management, up from $1.3 trillion in the first quarter of 2009, but down from its peak of $2.9 trillion in the second quarter of 2015. Hudge funds has $20 billion net outflows in 2015, and it is gaining speed.

Socially Responsible Investing & Impact Investing

Socially responsible investing & impact investing is a big wildcard in the top ten industry trends and may be driven by women & millenials. Socially responsible investing & impact investing strategies have gathered $6.6 trillion assets under management, upfrom $200 billion in 1995. Europe has the highest proportion of share managed assets (59%) devoted to sustainable investments. There are 69% of millennial investors are interested in environmental, social, & governance issues, up from 19% of nonmillennial investors.

Fiduciary Standard

The fiduciary standard changes everything & the biggest winners may be managed accounts, ETFs, Robo Advisors, & Define Contribution plan providers. Some claim that hundreds of billions of dollars in individual retirement accounts (IRAs) may be orphaned. Front-end commission A-shares have gathered $1.9 trillion assets under management, up from $0.8 trillion in 2000. Mutual Funds' 12b-1 fees are $13.2 billion, up from $10.0 billion in 2000, but down from their peak of $13.4 billion in 2007. Most predict that products like variable annuities will see declines in usage. buron CEO summit attendees believe that a uniform fiduciary standard will not be implemented for retail advice in 2016-2017.

Interest Rates

The impact interest rates have on the future of wealth management is huge & may be hiding many emerging trends. Global private banks' gross margin is 95 basis points, down from 116 points in 2007 & its peak of 126 basis points in 2008. Life insurance companies average investment portfolio yield is 4.4%, down from 7.0% in 2000.

2016 Elections

The 2016 elections are a poor choice & it does matter. The election affects fed policy by includence, Dodd Frank, CFPB, Capital gains tax rates, estate tax rates, carried interest provision, SCOTUS, & more.

Tiburon's Conclusions on The Future of Wealth Management

Trend is your friend with the rapidly growing market; historically terrific economics will be challenged (bet on transparency); & remember that closest to client almost always eventually wins.

Tiburon CEO Summit XXXI Day #2 Keynote Presentation Overview

The purpose objectives of the day #2 keynote presentation are to recognize Tiburon's increasing role in strategic industry activity by devoting second day of agenda to such; share the facts & avoid sensationalism & deal promotions; & potentially build day #2 conference agenda. Tiburon Managing Partner Chip Roame's day #2 keynote presentation is intended to address strategic adctivity in the wealth management industry, including venture capital, private equity, and mergers & acquisitions.

Financial Services Industry Profitability & Valuations

Life insurance companies average investment portfolio yield is 4.4%, down from 7.0% in 2000. Fee-based financial advisors' operating income margin is 28.2%, up from 22.2% in 2010. BlackRock & Janus Capital group have positive stock appreciation in 2016, BlackRock leading with 9.5%.

Financial Services Industry Venture Capital & Minority Growth Equity Investments

Venture capital funds invested $59.0 billion, up from $15.0 billion in 1997 but down from its peak of $105.0 in 2000. Venture capitalists invested $10.5 billion in financial technology firms in 2015, up from $1.4 billion in 2010. SoFi has raised the most venture cpaital amongst financial services firms, with $1.2 billion. Betterment Holdings, Personal Capital Corporation, & Walthfront have raised the most venture capital amongst the online advice firms. Tiburon CEO Summit attendees increasingly believe that venture capital's bet on online financial advice will see only moderate growth or stagnate. Tiburon CEO Summit attendees increasingly say that Bitcoins will catch on.

Financial Services Industry Public Offerings

There were 130 initial public offerings in 2015, down from 580 in 1995 & its peak of 840 in 1996. Technology companies accounted for 15% of initial public offerings in 2015, down from 35% in 1995 & its peak of 72% in 1999.

Financial Services Industry Mergers & Acquisitions

Amundi & DE Shaw have the largest investment management firm areas with $1.2 & $1.1 trillion respectively. Tiburon CEO Summit attendees increasingly say that financial services firm merger & acquisition activity will stagnate or grow moderately. Tiburon CEO Summit attendees say that financial technology firm consolidation activity will increase in 2016-2017. There were 84 fee-based financial advisor merger & acquisitions, up from thirteen 1999. Tiburon CEO Summit attendees said that United Capital Financial, Edelman Financial Services, & HighTower have the best chance at building nationwide financial advisor business.

Financial Services Industry Activists Campaigns

Activist hedge funds have gathered $125 billion assets under management, up from $10 billion in 2003. Activist hedge funds have $6.0 billion net flows, up from $2.0 billion in 2004, but down from their peak of $14.0 billion in 2014. Activist hedge funds pursued 355 campaigns, up from 253 in 2008.

Tiburon Conclusions on FSI Strategic Activity

Tiburon's conclusions on FSI strategic activity include profitability to increase; valuations to increase; venture capital & minority growth equity investments to increase; initial public offerings & secondary offerings to stagnate; mergers & acquisition activity to increase led by investment management firms & financial advisors; & activism to increase.

Speakers

Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXXI included speakers Walt Bettinger (CEO, The Charles Schwab Corporation), Ryan Beach (President, CLS Investments), Tom Bradley (President, Retail Distribution, TD Ameritrade), Len Brennan (CEO, Russell Investments), Alan Clopine (Co-CEO, Pure Financial Advisors), Todd Crockett (Managing Director, TA Associates), Mark Delfino (CEO, Hoyle Cohen), Stuart DePina (President, Envestnet Tamarac), Kyle Griswold (Partner, FTV Capital), Doug Hammond (CEO, NFP), Bob Heller (Former Governor, Federal Reserve Board, & Former CEO, Visa USA), Anton Honikman (CEO, MyVest Corporation), Chris Kitze (Partner, Crosslink Capital), Rob Klapprodt (President, Vestmark), Michael Kossman (Chief Operating Officer, Aspiriant), Bruce Lavine (CEO, 55 Capital Partners), Jim Lockhart (Vice Chairman, WL Ross & Company), Bo Lu (CEO, FutureAdvisor), Steve McLaughlin (Managing Partner, Financial Technology Partners), Nathan Mersereau (President, Planning Alternatives), Bob Moser (CEO, Laird Norton Wealth Management), Russ Norwood (Founding Partner, Venturi Wealth Management), Josh Pace (CEO, Trust Company of America), Lowell Putnam (CEO, Quovo), Kevin Rafferty (CEO, Vertical Management Systems), Steve Savage (CEO, Litman Gregory Asset Management), Skip Schweiss (President, TD Ameritrade Trust Company), Mike Sha (CEO, SigFig), Erik Strid (CEO, Concentus Wealth Advisors), Andy Swan (CEO, LikeFolio), Bill Van Dresser (Managing Partner, Legacy Wealth Advisors), Tom Wagner (Partner, Summit Wealth Group), Craig Wietz (President, First Rate), Jane Williams (Chairman, Sand Hill Global Advisors), John Wise (CEO, InvestCloud), & Justin Wisz (CEO, Vestorly). Tiburon CEO Summit XXXI also featured the firm's traditional client-centric panel discussions and two networking-based social events.

Walt Bettinger
(CEO, The Charles Schwab Corporation)

 

 

Tiburon CEO Summit XXXI
Prior Award Recipient
Walt Bettinger
(CEO, The Charles Schwab Corporation
)


 

 

 

 

 

 

 

Walt Bettinger has been Chief Executive Officer of The Charles Schwab Corporation since October 2008 and concurrent with his appointment, he was named to the board of directors of The Charles Schwab Corporation. In addition, Bettinger serves on the Board of Directors of Charles Schwab Company. and Charles Schwab Bank, and as a Chairman of The Board of Trustees for the Schwab managed mutual funds and exchange traded funds. Prior to assuming his current role, he was most recently President of The Charles Schwab Corporation. Bettinger's duties include leading the development of strategies and services that assist millions of people worldwide in their efforts to save and invest – either directly, with the help of independent investment advisors or through company-sponsored retirement or benefit plans. He is credited with leading Schwab through the financial crisis. Post crisis, from 2009 through 2012 Schwab grew client assets by $530 billion – $200 billion more than the growth of all four of Schwab's primary publicly traded competitors added together. Bettinger has been recognized throughout his career as a leader in financial services including selection in 2014 to Fortune magazine's Businessperson of the Year listing, in 2010 to the Power 30 by Smart Money magazine of the world's most powerful and influential players; the 2009 lifetime achievement award for contributions to the retirement security of working Americans by Plan Sponsor magazine and receipt by Tiburon Strategic Advisors of a 2012 Tiburon CEO Summit award. In 1983, at the age of 22, Bettinger founded The Hampton Company, a provider of retirement plan services to corporations and their employees. The Charles Schwab Corporation acquired Hampton in 1995.

Mr. Bettinger’s comments included:

  • “The asset is trust, not technology in our industry. People buy trust. That is why consolidation is going to be very difficult.”
  • “I think we need courage across the industry --individuals like myself who have been in this business for three decades to stand up and speak with truth and objectivity about what we need to do differently”.
  • “What our research has shown is that one of the major reasons young people hesitate to save is because they feel even less prepared than someone who may be older to make all these decisions that we are foisting upon them.”
  • “The idea that startup robos will take over the asset management industry can finally be laid to rest.”
  • “We expect pricing in the transactional area to continue to compress, and if we get an improving economy and maybe slightly higher interest rates, we’ll see that [trend] accelerate. We’ve diversified our business model such that we have a fairly modest amount of revenue tied to transactions; so to acquire a firm that is still 40% transactional revenue is completely off strategy for Schwab.”

Ken Arthur
(Co-Founder, ETFengine)

 

 

Tiburon CEO Summit XXXI
Speaker
Ken Arthur
(Co-Founder, ETFengine
)


 

 

 

 

 

 

 

Ken Arthur, one of three founders of ETF Engine, has worked for 35 years in the information technology industry primarily specializing in investor record keeping. He has had positions in corporate management, marketing, business development, product development and IT development, participating in the creation and processing of multiple recordkeeping systems for mutual funds, stocks & bonds, managed accounts, and wrap processing. Ken was instrumental in building, selling and servicing investor recordkeeping for some of the largest banks, brokerage firms and mutual fund companies in the US. His career started in programming for Lockheed and he then moved into data processing services and sales for the IBM Company. At IBM Ken participated in the development of a mutual fund transfer agency system that became the recordkeeping platform for Applied Financial Systems (AFS). He joined Applied Financial Systems where he was Vice President of sales and marketing. AFS was acquired by SunGard and during his tenure at SunGard he continued with the development of new investor recordkeeping systems, eventually becoming president of SunGard Shareholder Services. Ken was one of the four founders of Funds Associates Ltd (FAL) that built and processed the SuRPAS shareholder recordkeeping system that has become the largest mutual fund omnibus recordkeeping system in the US, processing over 150 million shareholder records, representing more than 2.6 trillion dollars of assets. After the sale of Funds Associates to PFPC (PNC Bank Subsidiary) Ken became a Senior Vice President in Advanced Product Development supporting E-commerce activities for PFPC’s product lines. Upon leaving PFPC Ken, with his partners, started KDS Partners, a consulting firm specializing in investor recordkeeping both in the USA and internationally. Ken has a degree in Physics from the University of Colorado and an MBA from Santa Clara University

Mr. Arthur's comments included:

  • “No matter what direction investments and advice head in the next ten years, we believe there will continue to be a brokerage or trust account standing behind all products.”
  • “Robo’s deep spending on customer acquisition on the premise that this is a scale business are right – but only up to a point. There are two variable costs that remain fixed – at any scale – the per-hour cost of human capital and the cost of maintaining the brokerage system books and records account that sits behind every advice product out there.”
  • “We believe, too, that expenses, friction, and risks are associated with tying today’s innovative front end products with the legacy brokerage system products – by keeping multiple copies of investor records.”
  • “ETFengine provides a new processing solution for the traditional pinch point and cost element of processing high volume corporate actions such as dividend transactions that have plagued brokerage systems.”
  • “The tech providers for the ‘Robo’ products have made great progress in reducing investor costs using new front-end web self-service/ portfolio systems.”

Ryan Beach
(Executive Chairman, CLS Investments)

 

 

Tiburon CEO Summit XXXI
Speaker
Ryan Beach
(Executive Chairman, CLS Investments
)


 

 

 

 

 

 

 

Ryan Beach has been the President of CLS Investments since 2012. CLS Investments is one of the largest ETF strategists & third party money managers in the United States. Prior to CLS Investments, he was an associate general counsel at NorthStar Financial Services Group from 2011 to 2012, where he advised clients on SEC and FINRA requirements. From 2005 to 2011, Mr. Beach was an attorney at Scudder Law Frim. He graduated from Brigham Young University with a Bachelor’s degree in Economics and later graduated from the University of Nebraska College of Law with a Juris Doctorate in 2005.

Mr. Beach’s recent comments included::

  • "Pace of M&A is causing build, buy, or partner to become a very complex decision for fintech users."
  • "Strategic buyers will accelerate purchases of B2B and B2C providers, especially those with failed revenue models but unique functionalities"
  • “Government regulation “crowds out” homegrown innovation, leading to increased competition for purchases of disruptive fintech startups”
  • “As the financial services industry becomes more heavily regulated, our partners and clients will require assistance with increasingly complex compliance and legal matters.”
  • “We want our partners to view their relationship with CLS as a competitive advantage on both an operational and compliance level, and we are committed to executing that vision at CLS.”

Marty Beaulieu
(Executive Chairman, Altegris Investments)

 

 

Tiburon CEO Summit XXXI
Speaker
Marty Beaulieu
(Executive Chairman, Altegris Investments
)


 

 

 

 

 

 

 

Marty Beaulieu has been Executive Chairman of Altegris Investments since 2016. He is responsible for firm strategy and the day-to-day management of the company. He is a Director of MFS Institutional Advisors. Mr. Beaulieu serves as a Member of Advisory Board of Vestigo Ventures. He served as Head of Retail iShares US at BlackRock. He is an Advisory Board Member of BrightScope. Previously, Mr. Beaulieu served as Managing Director at BlackRock Financial Services and served as the CEO and Chairman of McLean Budden Limited. Previously, Mr. Beaulieu was responsible for McLean Budden's worldwide distribution efforts through its retail, institutional, and international sales subsidiaries. He joined MFS in 1990. Mr. Beaulieu served as Vice Chairman of Massachusetts Financial Services Company. Mr. Beaulieu joined Altegris as a member of its Board in March 2016 and graduated from Santa Clara University in 1980.

Mr. Beaulieu’s comments included:

  • “More than the products, it’s about how the active managers perform.”
  • "Robo's/quants can help. Aggregation, algo’s, tax harvesting, price efficient. But not sophisticated enough for the long term….”
  • “Choice between less efficient categories or multi-asset class solutions.”
  • “Fighting popular culture, and now 40 years of academic research that beta is good enough.”
  • "Your energy will go to some active management better than private markets that are difficult to access.”

Tom Bradley
(President, Retail Distribution, TD Ameritrade)

 

 

Tiburon CEO Summit XXXI
Speaker
Tom Bradly
(President, Retail Distribution, TD Ameritrade
)


 

 

 

 

 

 

 

Tom Bradley is President of Retail Distribution at TD Ameritrade. Tom Bradley is responsible for retail distribution at TD Ameritrade, which includes the company's branch network, marketing, investor service & sales call centers, guidance solutions, investment products and investor education businesses. He also serves as a member of the company's senior operating committee, which shapes the strategic focus of the organization. Mr. Bradley’s experience in the financial services industry began as a financial advisor with Northwestern Mutual Life and RW Baird & Company. He joined TD Waterhouse in 1986 and continued with the firm until it merged with Ameritrade in 2006 to form TD Ameritrade. At TD Waterhouse he was responsible for correspondent clearing and capital markets businesses, and he also launched what is now known as TD Ameritrade Institutional1, supporting independent registered investment advisors (RIAs). In his most recent role, as president of TD Ameritrade Institutional, Mr. Bradley was responsible for all business functions, including independent RIA services segment and corporate services business. Mr. Bradley was recently awarded the 2013 Pioneers in Financial Services Award by William Paterson University's Cotsakos College of Business. In 2011 he was named one of the 25 most influential people in the RIA community by Investment Advisor magazine, an honor he received in 2004, 2006 and 2009 as well. He was named Visionary of the Year by Texas Tech University’s Division of Personal Financial Planning in 2008. The National Association of Personal Financial Advisors (NAPFA) also recognized Mr. Bradley with the 2006 Special Achievement Award.

Mr. Bradley’s comments included:

  • “Larger advisors today are running substantial operations and they need technology to streamline their businesses and provide scale to grow.”
  • “We have determined that a significant number of assets leave because they need some higher level of advice that we offer and weren’t aware of our advisor direct offering. We think this will increase awareness to our independent advisors.”
  • “Right before the bubble burst clients were questioning the value of the advisor. That is no longer the case.”
  • “In our business, the reason people work with you starts with the relationship. Technology can be a hook to cement the deal, but our business always starts there.”
  • “We are starting to see some M&A activity driven by the succession issue. But by far, what we are seeing is that firms are bringing in younger folks that they can develop internally by coaching and training, as well as sharing ownership.”

Len Brennan
(CEO, Russell Investments)

 

 

Tiburon CEO Summit XXXI
Speaker
Len Brennan
(CEO, Russell Investments
)


 

 

 

 

 

 

 

Len Brennan serves as CEO at Frank Russell Company and previously served as the President. Mr. Brennan served as CEO at Russell Investments at London Stock Exchange Group plc since 2011 until 2016 and it’s Group Director of Buyside Solutions until 2016. He served as the Chief of Europe, Middle East and Africa business at Frank Russell Company. Previously, he served as the President, and Chief Executive Officer at Rainier Investment Management. He joined the Rainier Investment Management in November 2005 and was responsible for the overall business and operational activities. Mr. Brennan has an extensive experience in the financial services industry. Prior to joining the firm, he was the Managing Director at Russell Investment Group and was responsible for the Individual Investor Services globally. Over the same period, he served as President of Frank Russell Investment Management Company, President of Russell Funds Distributors, and President of Frank Russell Investment Company. He managed all aspects of the Frank Russell's U.S. retail business, including sales, client service, marketing, new business development, operations, and compliance. A native of Canada, he managed the firm's Toronto and London offices and launched the company's first multi-manager investment fund outside the United States. He serves as a Director of Russell Investments and Rainier Investment Management. He is a CFA charter holder and is a Member of the CFA Institute. Mr. Brennan received a Bachelor’s degree in commerce from Carleton University, Ottawa, Canada.

Mr. Brennan’s comments included:

  • “Active management has to be part of the solution. Otherwise people will not have enough money for their retirement.”
  • “Russell’s investment management business has been a pioneer in innovation in the areas of passive management and smart beta and incorporating such strategies into our multi-asset solutions, and we are committed to maintaining the highest standards of client continuity and service.”
  • “The combination of our index business with FTSE creates a truly global index leader, with a highly complementary fit of products and distribution capabilities and a unique position as a leader in major domestic market benchmarks as well as international equities.”
  • “ We believe that ensuring that associates have an ownership stake is always a positive thing”.
  • “Potential clients typically bring unique and distinct problems that we haven't solved before.”

Bernie Clark
(Executive Vice President, Advisor Services, The Charles Schwab Corporation)


Tiburon CEO Summit XXXI
Speaker
Bernie Clark
(Executive Vice President, Advisor Services, The Charles Schwab Corporation
)

Bernie Clark is head of Schwab Advisor Services and a member of Charles Schwab’s Executive Committee. He oversees the business that provides custodial, operational, and trading support to nearly 7,000 independent investment advisory firms with $1.1 trillion in assets under management In addition to custody services, Schwab Advisor Services provides practice management and consultative support to help independent advisors start, build and grow their firms. A recognized industry leader, he has been named by Investment Advisor magazine as one of the “IA 25 ,” which annually ranks the 25 most influential people in the industry. Clark has more than 30 years of financial industry experience serving individual and institutional investors. He began his career at Schwab in 1998 as senior vice president of trading and operations for Schwab Institutional. He later worked on the retail business as leader of the client services organization, before returning to the advisor business to lead the sales and relationship management organization. He took on his current role as head of Schwab Advisor Services in 2010. Prior to joining Schwab, Clark was with the London office of Deutsche Morgan Grenfell. There he held the position of managing director in charge of global sales support, hedge fund operations and technology, including managing client service support in Asia, Europe and the U.S. He also spent 13 years with Salomon Brothers as a member of the executive committee responsible for North American operations. Clark serves on the board of the Foundation for Financial Planning and the Arizona State University W.P. Carey School of Business, Center for Services Leadership. He is very involved in organizations in the Phoenix area, including serving as president of the Saguaro High School Football Foundation and as an active supporter of the Phoenix Children’s Hospital. Clark earned his Bachelor of Science degree in accounting from St. John’s University in New York.

Mr. Clark’s comments included:

  • “Millenials are generating their own wealth.”
  • “It is important that the voice of advisors be heard by the legislators who make decisions that can impact their industry, their businesses, and their clients.”
  • “There is too much at stake to allow these decisions to be made without the input and perspective of those who helped create this industry—the advisors.”
  • "Amazon found what our clients want in our industry: a new and friendly way of buying."
  • “We hear it all the time and we know it is true - the work you do matters and it matters most because of how you do it.”

Alan Clopine
(Co-CEO, Pure Financial Advisors)

 

 

Tiburon CEO Summit XXXI
Speaker
Alan Clopine
(Co-CEO, Pure Financial Advisors
)


 

 

 

 

 

 

 

Alan Clopine is the CEO of Pure Financial Advisors. He currently shares the CEO role with Michael Fenison, the original founder of the company. Alan is primarily responsible for the day-to-day activities of the firm while Michael’s focus is on expansion and hiring. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. Now, in 2016, Pure Financial has over 1,600 clients and over $1.4 billion of assets under management. Prior to joining Pure Financial Advisors, Alan was the founding and senior partner at Clopine & Associates; a CPA firm established in 1987 and located in San Diego. The firm was consistently ranked in the top 50 CPA firms in the San Diego Business Journal, Book of Lists. Alan has provided tax planning services for individuals, corporations and trusts for over 30 years while running multiple companies. His goal is to help clients create tax-efficient income streams that are sustainable in retirement.

Mr. Clopine’s comments included:

  • “A defined benefit plan allows for a much larger deduction because it’s based upon a participant’s age, compensation and future desired pension benefit.”
  • “We often see people’s safe money in a taxable account and stocks in retirement accounts. It should be just the opposite.”
  • “We always look at cash flow needs and investments with each meeting. Once you know your cash flow and tax situation, only then can you figure your investments.”
  • “ The worst mistake you can make is to procrastinate and assume the problem will magically disappear.”.
  • “The generation that has depended solely on 401(k)s and tax-deferred individual retirement accounts may not realize how much of a tax hit they will take when they start withdrawing the money and living on it”

Todd Crockett
(Managing Director, TA Associates)

 

 

Tiburon CEO Summit XXXI
Speaker
Todd Crockett
(Managing Director, TA Associates
)


 

 

 

 

 

 

 

Todd Crokett is Managing Partner of TA Associates. Todd joined TA in 1994 as an associate in the Boston office and has worked in the Menlo Park office since 2000. Before joining TA Associates, Todd Crockett worked for Salomon Brothers – Financial Analyst in the Financial Institutions and Structured Finance Groups. He received his BA in Politics from Princeton University and his MBA from Harvard Business School. He is currently a board member at DiscoverOrg, Evanston Capital Management, NorthStar Financial Services Group, Procare Software and Russel Investments.

Mr. Crockett’s comments included:

  • ”Robo, aggregators and all those things can’t do anything by themselves.”
  • “We are as comfortable purchasing a minority stake as we are a majority interest, and the goal is to simply identify the best companies, then be flexible about how we structure an investment.”
  • “We are very pleased to complete the acquisition of Russell Investments and, together with Reverence Capital, begin our new relationship with this established and highly respected market leader.”
  • "We are focused on fintech companies.”
  • “Robo reminds me what happened ten years ago with online brokerage. Some players are not very differentiated so we pay attention to data.”

Mark Delfino
(CEO, Hoyle Cohen)

 

 

Tiburon CEO Summit XXXI
Speaker
Mark Delfino
(CEO, HoyleCohen
)


 

 

 

 

 

 

 

Mark Delfino is the CEO of HoyleCohen. In 2008, he joined the HoyleCohen team as part owner and Managing Director. Under his leadership, he has scaled operations and has positioned the firm for continual growth and ever-increasing investment, financial planning, and client service capabilities. He navigated the firm through the recent financial crisis, continues to lead during a time of volatile, yet opportunistic economic recovery, and maintains a clear purpose and vision for the future of the firm and our clients. He is an Investment Advisor Representative (IAR) and has extensive experience in business, planning, and investment management. With an MBA from Harvard University and undergraduate degree in Economics from Butler University, Mark’s professional pedigree includes over twenty years as an operating executive and trusted advisor. Prior to joining HoyleCohen, Mark was the founding principal of D-Rock Investment Services. He was also a Partner of The Boston Consulting Group (BCG), and a senior executive of a technology services company that was acquired and merged into Yahoo.

Mr. Delfino’s comments included:

  • "This business is basically about trust.”
  • “Women’s societal influence and wealth are on a one way track leading upwards. Studies have shown that in the next decade, women will control two thirds of consumer wealth. Despite this, the market has been slow to give them the support and services they need to manage their wealth and life goal.”
  • “We are seeing it more from prospective clients who are sitting in cash and seeing the equity market run and want to get in on it, but they don't know quite what to do.”
  • “Costs are the most challenging.”
  • “You have to look first at the firm and second at the individual.”

Scott Grauer
(CEO, BOK Financial Services )

 

 

Tiburon CEO Summit XXXI
Speaker
Scott Grauer
(CEO, BOK Financial Services)
)


 

 

 

 

 

 

 

Scott Grauer is executive vice president for Wealth Management at BOK Financial and CEO of the company’s broker/dealer BOSC. BOK Financial is one of the largest bank holding companies in the United States. In his current role, Grauer is responsible for all the company’s wealth management business lines in all markets, including Institutional Wealth, The Private Bank, and International Banking. In addition to his role as CEO of BOSC, he serves as chairman on both of the company’s registered investment advisers, Cavanal Hill Investment Management, and The Milestone Group. Grauer holds numerous FINRA securities licenses, registrations and designations. Grauer joined BOK Financial in 1991 as part of the company’s acquisition of an independent retail brokerage operation and was named manager of BOSC retail in 1996. In late 1999, he was named president and CEO of the firm and assumed responsibilities for retail, institutional and investment banking activities when BOK Financial first combined these units under one organization. Under Grauer’s leadership, BOSC’s strong revenue growth has been one of BOK Financial’s most prominent success stories. A native of Cedar Rapids, Iowa, Grauer grew up in Leawood, Kansas and graduated from Shawnee Mission South High School in Overland Park, Kansas. He earned a bachelor’s degree in business administration from Baker University in Baldwin City, Kansas.

Mr. Grauer’s comments included:

  • ”We’re looking for an opportunity to an organic growth.”
  • ”It is going to be increasingly important for us to excel in that space as we see dramatic trends in demographics with many baby boomers looking at their retirement assets.”
  • ”We are always actively seeking opportunities, yes. And we have others that are in various stages of evaluation.”
  • "We spend cero time on bits that mean exit strategy.”
  • “$1-3-5 billion is what we are looking at, something powerful, but not increasing people.”

Kyle Griswold
(Partner, FTV Capital)

 

 

Tiburon CEO Summit XXXI
Speaker
Kyle Griswold
(Partner, FTV Capital
)


 

 

 

 

 

 

 

Kyle Griswold joined FTV Capital in 2007 after working as an investment banking associate at Berkshire Capital Securities. Mr. Griswold, based in FTV's New York office, has been actively involved in many successful FTV investments in the financial services and payments/transaction processing sectors. He is currently a board member at Apex Fund Services, a global fund administrator, Aspire Financial Services, a retirement plan solutions provider, True Potential, an investment and wealth management platform, and World First, a foreign exchange solutions platform. He is a board observer at Swan Global Investments, an investment management firm, and also actively involved with CardConnect, a payment processing services company. Mr. Griswold helped successfully exit Fleet One (acquired by Wright Express in 2012), IndexIQ (acquired by NYLife Investment Management in 2015) and VelocityShares (acquired by Janus Capital in 2014). Mr. Griswold received a BA in economics and mathematics from Trinity College and is a CFA® charterholder.

Mr. Griswold’s comments included:

  • ”Robo are good from a consumer perspective. The problem is the business model.”
  • "These companies (robos) are overvalued.”
  • ”There is a gap of advice for retail advisors.”
  • ”As Edgewater clients told us repeatedly, liquidity is essential in today’s volatile market.”
  • ”Edgewater Markets provides traders with a customized, flexible technology platform that easily integrates to front and back-office systems. This seamless integration ensures anonymity along with optimal, efficient and low cost FX electronic execution.”

Doug Hammond
(CEO, NFP)

 

 

Tiburon CEO Summit XXXI
Speaker
Doug Hammond
(CEO, NFP
)


 

 

 

 

 

 

 

Doug advances initiatives that ensure NFP is synonymous with a leading, full-capability insurance broker and consultant that cares deeply about its employees and clients’ well-being. He’s held several leadership roles at NFP since 1999, including chief operating officer and general counsel, and has over two decades’ experience in executive management, operations, underwriting, and law. Doug’s committed to building exceptional leadership teams that embody NFP’s dedication to trust, transparency and communication, and to delivering clients a broader range of high-quality solutions. In 2013, he led NFP’s pivotal $1.4 billion go-private transaction with Madison Dearborn Partners (MDP), a leading private equity firm, providing NFP with significant opportunities for future growth. Prior to NFP, Doug practiced corporate insurance law at a national firm, where he represented NFP’s founding capital partner before and during its startup phase. Doug is a member of the MDP Financial Services Advisory Board and serves on the board of directors of Kestra Financial, one of the largest hybrid retail independent broker-dealers in the U.S. He also serves on the Advisory Council of the Dolan School of Business of Fairfield University. In addition, he co-authored Reinsurance Law, a leading subscription treatise on reinsurance practice and legal trends. He earned his Bachelor of Arts from Fairfield University and his Juris Doctor from St. John’s University School of Law.

Mr. Hammond’s comments included:

  • ”Strong management teams prefer a private company structure to execute.”
  • ”NFP has a tremendous opportunity to capitalize on our unique and valuable offerings in today's market, and I look forward to working with the team at NFP as we position the company for its future long-term growth and success.”
  • ”As we continue to grow our core business offerings of commercial insurance, corporate benefits and private client resources, we need to tell our story in a way that clearly articulates who we are today.”
  • "Private equity landscape is changing.”
  • ”Millenials focus is a good culture that works with all employees.”

Bob Heller
(Former Governor, Federal Reserve Board, & Former CEO, Visa USA)


Tiburon CEO Summit XXXI
Speaker
Bob Heller
(Former Governor, Federal Reserve Board, & Former CEO, Visa USA
)

Bob Heller served on the Board of Governors of the Federal Reserve System from 1986, until 1989. From 1965 to 1971, Heller taught economics at UCLA. He accepted a professorship at the University of Hawaii and continued to teach economics for two more years. In 1974, Heller became chief of the financial studies division at the International Monetary Fund. In 1978, he became senior vice president and director of international economic research at Bank of America in San Francisco. In the fall of 1986, President Ronald Reagan nominated Heller to the Board of Governors. Heller served as chairman of the Committee on Bank Supervision and Regulation, was a member of the Federal Financial Institutions Examination Council, the National Advisory Council on International Monetary and Financial Policies, and represented the Board at the Organization for Economic Co-operation and Development. After leaving the Board of Governors, Heller returned to the private sector, joining Visa. In 1991, Heller became president and chief executive officer of Visa USA. and served in the role for two years. From 1994 - 2001, he served as the executive vice president of Fair Isaac Corporation. Heller is active in many business and civic organizations. He has served on the boards of VISA, the Fair Isaac Corporation and BMW of North America. He has also been Chairman of Marin General Hospital. He currently is a member of the boards of Bank of Marin, Bank of Marin Bancorp and Sonic Automotive. as well as several private corporations. Heller is the author of seven books and over one-hundred articles on economics, finance, and business.

Mr. Heller’s comments included:

  • “At the current period we have the slowest recovery of the post war period. This is because of the high regulations.”
  • "We have something absolutely new: regulators for the regulators.”
  • “There are two issues threatening the long term: pension and insurance funds.”
  • “We are competitive with the Fed, also…our purpose it to try to replace the check with plastic.”
  • “The Federal debt will become unsustainable during the next decadee two issues threatening the long term: pension and insurance funds.”

Anton Honikman
(CEO, MyVest Corporation)

 

 

Tiburon CEO Summit XXXI
Speaker
Anton Honikman
(CEO, MyVest Corporation
)


 

 

 

 

 

 

 

Mr. Anton Honikman is CEO of MyVest. Prior to MyVest, Anton served as President of Ada Investment Management, a boutique alternative investment manager. Previously, Mr. Honikman was at Barclays Global Investors (BGI, now BlackRock), where he established and ran BGI’s Strategic Ventures Group, spearheading strategic investments and partnerships with innovative financial services companies. Before the Strategic Ventures Group, Mr. Honikman designed and represented defined contribution, and retirement income, and international index products for BGI. Mr. Honikman joined BGI from Barra (now MSCI), the market leader in portfolio risk analytics, As Barra’s VP of Product Strategy, Anton was responsible for the conception and commercialization of BarraOne, Barra’s flagship web-based multi-asset class portfolio analytics platform, now the established standard among large U.S. pension funds. He earned a Bachelor of Business Science with honors in financial economics and applied statistics from the University of Cape Town, South Africa. He is a trustee of the San Francisco School.

Mr. Honikman’s comments included:

  • ”They can’t support the necessary technology internally to succeed and they know it.”
  • ”The challenge for the wealth management industry is to provide personalized solutions at scale.”
  • ”We’ve always espoused a client-centric approach to wealth management. Now, it’s less about products and more about client outcomes, and that’s a change we are proud to be a part of.”
  • "Do no harm your employees. If they leave, your customers leave.”
  • “We remain committed to serving our clients and continuing to provide the tools advisors need to prepare their clients for the future.”

Kunal Kapoor
(CEO, Morningstar)

 

 

Tiburon CEO Summit XXXI
Speaker
Kunal Kapoor
(CEO, Morningstar
)


 

 

 

 

 

 

 

Kunal Kapoor, CEO of Morningstar, is responsible for managing the company’s investment databases and related products, including Morningstar® Data, the firm’s comprehensive offering of investment data, real-time market data, documents, and more available through a variety of delivery methods including electronic data feeds. Prior to assuming his current role in 2012, Kapoor was president of Equity and Market Data/Software. In 2009, he became president of Individual Software, responsible for Morningstar.com®, and in 2010, his role expanded to include the firm’s equity data business. Kapoor joined the company as a data analyst in 1997 and became a fund analyst in 1998. In 2001 he joined Morningstar Investment Services, a registered investment advisor and wholly owned subsidiary of Morningstar, as a senior research analyst. He was named editor of Morningstar® Mutual Funds™, the company’s flagship publication, in 2003, and in 2004 was appointed director of mutual fund analysis, where he led Morningstar’s team of mutual fund analysts. In 2006, Kapoor was named director of business strategy for Morningstar’s international operations. He also served as president and chief investment officer of Morningstar Investment Services. Kapoor holds a bachelor’s degree in economics and environmental policy from Monmouth College and a master’s degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society of Chicago. In 2010, Crain’s Chicago Business named Kapoor to its annual 40 Under 40 class, a list that includes professionals from a variety of industries who are contributing to Chicago’s business, civic, and philanthropic landscape.

Mr. Kapoor’s comments included:

  • “The very much of the discussion is the high costs of active versus low cost of passive.”
  • “From my perspective, technology is enabling the adviser to have a closer relationship with the clients that advisers should be spending the most time with. Tech provides a huge opportunity for companies like Morningstar to demonstrate value.”
  • “One of the areas in the world that we see as having the biggest opportunities is in the U.S. As good as the opportunities are overseas, they are just as good here. It is not a matter of one over the other.”
  • “Everyone thought robo-advisers were going to land with a big thud in the adviser community. But they have gained acceptance in that advisers have found ways to use the new tools they get”.
  • “The reality is that the vast majority of assets are concentrated in a few funds, and covering that select group is not a challenge.”

Rob Klapprodt
(President, Vestmark)

 

 

Tiburon CEO Summit XXXI
Speaker
Rob Klapprodt
(President, Vestmark
)


 

 

 

 

 

 

 

Mr. Rob Klapprodt serves as President of Vestmark. Mr. Klapprodt served as the President of Vestmark Software of Vestmark. Mr. Klapprodt has been at Vestmark since 2001 and is responsible for sales, marketing, business development and products. Prior to Vestmark, Mr. Klapprodt served as a Senior Product Manager at Vignette Corporation (NASDAQ: VIGN), where he was responsible for Vignette's analysis and personalization solutions. Mr. Klapprodt joined Vignette through their acquisition of DataSage, an eCRM software provider, in January 2000. At DataSage, Mr. Klapprodt held various positions in sales, consulting and product management, including the construction of the initial eCRM prototype which became DataSage's flagship product. Mr. Klapprodt worked at Oracle Corporation prior to DataSage, where he focused on Oracle's data warehousing and business intelligence solutions for large enterprises. Mr. Klapprodt holds a BS from Pennsylvania State University where he studied Economics and Mathematics.

Mr. Klapprodt’s comments included:

  • “The costs and risks associated with managing IRAs and other retirement accounts under DoL will make it impractical for many firms to maintain them.”
  • “With the right technology, firms can create a viable operating model for advising retirements accounts and improve their operations overall.”
  • “In developing new modules for our managed accounts platform, our philosophy has been to partner with forward-thinking clients, define a vision, and deliver a solution that works in the real word.”
  • “Due to unique scalability and functionality requirements, broker-dealers, banks, RIAs and other wealth managers have had limited compliance capabilities across their fee-based business.”
  • “As debates about robo-advisors continue to rage on, it’s hard not to flash back to similar stages for innovations that transformed other industries or daily life. For example, there was a time when social media was viewed as a fad.”

Chris Kitze
(CEO, Safe Cash Payment Technologies)

 

 

Tiburon CEO Summit XXXI
Speaker
Chris Kitze
(CEO, Safe Cash Payment Technologies
)


 

 

 

 

 

 

 

Chris is a serial entrepreneur who has created companies with over $7 billion of market capitalization over his 25-year career. He’s been part of the Lycos’ IPO team, was founder and CEO of Xoom.com (IPO: 1998), and was CEO of NBCi, formed by the merger of Xoom.com and Snap.com, in addition to other companies in digital media and payments, such as Wine.com and Unseen. He is Chairman of Unseen, Director of IQzone, and General Partner at Flying Disc Investments. He was previously Director at iNome / Intelius, Chairman of Wine.com, CEO at Yaga, CEO at NBC Internet, Chairman at Xoom.com, VP Marketing at Lycos, CEO of Point Communications, Publisher at Softkey International, Publisher at The Learning Company, and CEO of Aris Multimedia. Chris’s patents include Method and system for delivering files in digital file marketplace, Method and system for generating a secure message as a URL message, Digital file marketplace, Method and system for automatically distributing fees, including a reseller commission, during a digital file transaction, and Efficient transportation of digital files in a peer-to-peer file delivery network. Chris authored The Electric Image and earned his BS in Chemical Engineering at the University of Colorado Boulder in 1981.

Mr. Kitze’s comments included:

  • “The future of digital currency is very bright. We think it could replace most paper money in five years because it has a huge benefit for central banks & governments, banks, and for merchants & consumers.”
  • “What took years will now take months or days as most people have smartphones and are familiar with this technology.”
  • “Private currencies will likely be every bit as valuable as the widespread legal tender currencies of today. Bitcoin is now widely enough used and it can be exchanged for fiat and those two factors probably move it out of the private currency realm.”
  • “We think Bitcoin is great and yes, we do also value freedom, privacy and people’s ability to use their private property as they see fit.”
  • “If you are a merchant and you take credit cards, you have this huge problem of chargebacks, which run another 1% of your sales. They not only cost you the price of the money you collected but also a penalty fee from the card network.”

Aaron Klein
(CEO, Riskalyze)

 

 

Tiburon CEO Summit XXXI
Speaker
Aaron Klein
(CEO, Riskalyze
)


 

 

 

 

 

 

 

Aaron’s career has largely been at the intersection of finance and technology. As Co-Founder and CEO at Riskalyze, he led the company to twice being named one of the world’s top ten most innovative companies in finance by Fast Company Magazine. Today, 90 Riskalyzers serve thousands of advisors who manage over $90 billion on the platform. In his spare time, Mr. Klein serves as a Sierra College Trustee, and co-founded a school project for orphans and vulnerable kids in Ethiopia. He has been honored by Investment News as one of the industry’s top 40 Under 40 executives.

Mr. Klein’s comments included:

  • “In five years, there will be a plethora of digital advice platforms, because the diversity of thousands of advisory business models and approaches won’t go away, and our different advisor-facing technology needs to become more client-facing.”
  • “But we can’t out-robo the robo-advisors. In the race to depersonalize the investor experience, the venture capital-backed money will win.”
  • “We began as contrarians in the belief that risk should be at the center of how you engage with clients, and we continue as contrarians in our belief that robo is a technology model, not a business model.”
  • “But we can’t out-robo the robo-advisors. In the race to depersonalize the investor experience, the venture capital-backed money will win.”
  • “Advisors say they want simplicity, and then they send us requests on a monthly basis to make it more complicated. We simply say no, because at the end of the day they still want simplicity, and it’s something they love us for.”

Michael Kossman
(Chief Operating Officer, Aspiriant)

 

 

Tiburon CEO Summit XXXI
Speaker
Michael Kossman
(Chief Operating Officer, Aspiriant
)


 

 

 

 

 

 

 

Michael is currently the Chief Operating Officer of Aspiriant, a premier wealth management firm serving an elite clientele. He joined a predecessor firm (Kochis Fitz) in August, 2000 and was Aspiriant’s Chief Financial Officer from formation in 2008 until 2012. He now serves on the firm's Board of Directors, Managing Committee, and Firm Strategy Committee, as well as Chairs the Compensation Committee. He brings over 25 years of broad-based business experience in finance, human resources, technology, operations, taxation, regulatory environments, and strategic planning. Michael received his CPA license in 1991, and shortly thereafter joined Gap, succeeding to the role of International Tax Manager, providing planning and compliance support to both domestic and foreign operating companies and expatriates in Canada, the United Kingdom, France, Hong Kong, and Japan. Michael also had the honor of being selected to serve on the Gap Foundation Grants Committee. After leaving Gap, Michael worked as the Deputy Executive Director at Project Open Hand, a large institutional social services agency, for six years, where he ultimately oversaw programs that fed more than 2,000 people daily through home delivered meals, drop-in grocery programs, and congregate lunch sites.Michael has devoted significant amounts of time and energy to the community of San Francisco, including board positions with DIFFA/San Francisco, The National AIDS Memorial Grove, and Frameline. He was also a founding board member of ANSA, now the premier international voice for nutrition services programs, and a very early member of Plan C, a local political organization. In recognition of his efforts, March 31, 2000 was proclaimed Michael Kossman Day in San Francisco by Mayor Willie L. Brown. Michael earned his Bachelor of Arts degree in Business Economics from the University of California, Santa Barbara in 1986 where he graduated Magna Cum Laude.

Mr. Kossman’s comments included:

  • ”Get better, not necessarily bigger.”
  • ”If the borrower doesn't pay, who comes next? ... How does Schwab get an appropriate level of security?”
  • ”People didn't want to pay for financial planning, only portfolio management. The pendulum was swinging for the investment platform.”
  • "Robo advisors are not a threat. If you don’t pay for something is difficult to see the value.”
  • “In terms of size, between $0.5 and $1.5 billion is fine.”

Bruce Lavine
(CEO, 55 Capial Partners)

 

 

Tiburon CEO Summit XXXI
Speaker
Bruce Lavine
(CEO, 55 Capital Partners
)


 

 

 

 

 

 

 

Bruce Lavine has been the CEO of 55 Capital Partners since 2016. 55 Capital Partners is an asset management firm that implements sophisticated institutional portfolio management strategies with ETFs for a variety of different client types. Mr. Lavine was the Vice Chairman of Equilar Atlas from 2012 to 2016, and prior to that, he was Equilar Atlas’ Chief Operating Officer from 2006 to 2012. Bruce revieced a Bachelor’s degree with distinction in commerce and a master’s in finance from the University of Virginia. Mr. Lavine is a Chartered financial analyst with many years of experience in senior management positions in the ETF industry.

Mr. Kranefuss’ recent comments have included:

  • "The flash crash was a market problem, not an ETF problem."
  • "Active and passive are gonna be blended together in the future.”
  • “You’ll have to have some active management on the portfolio or you will disappoint the customer.”
  • “Today's markets are challenging with what we believe will be low forward-looking returns and an increasing number of volatility surprises. We are thrilled to partner with United Advisors to provide their clients with ETF portfolio solutions that utilize sophisticated, well-documented techniques broadly used by institutional investors to manage risk and enhance returns.”
  • “We also believe that advisors want to use more ETFs in their clients' portfolios, but are often frustrated with how to select the 'right' ones. At 55 Capital, we have the capacity to navigate the sea of ETFs and to construct efficient, resilient, diversified, tax-efficient portfolios.”

Jim Lockhart
(Vice Chairman, WL Ross & Company )

 

 

Tiburon CEO Summit XXXI
Speaker
Jim Lockhart
(Vice Chairman, WL Ross & Company
)


 

 

 

 

 

 

 

Jim Lockhart is Vice Chairman of WL Ross & Company. His responsibilities include overseeing financial services portfolio companies and sourcing new opportunities in the financial services industry. Mr. Lockhart previously was the director of Federal Housing Finance Agency and chairman of its Oversight Board, and director of its predecessor agency, the Office of Federal Housing Enterprise Oversight. He also served on the Financial Stability Oversight Board, overseeing the TARP Program. Mr. Lockhart was the deputy commissioner and chief operating officer of the Social Security Administration and executive director of Pension Benefit Guaranty Corporation. Mr. Lockhart's private sector financial services experience includes senior positions at an investment bank, reinsurer, insurance broker, risk management firm and major oil company. He also served as an officer aboard a nuclear submarine.

Mr. Lockhart’s comments included:

  • “We recommend employees from small companies to join a pool retirement plans with other employees.”
  • “We have to figure out how to get the private market back into the mortgage market.”
  • “The stock and the preferred (stock) is worthless and should be worthless.”
  • "We recommend $500 saving for young people and low income people.”
  • “There is a real need to bring capital to various segments of the financial industry: from small to medium banks, insurance companies, as well as mortgage servicing and origination.”

Bo Lu
(CEO, FutureAdvisor)

 

 

Tiburon CEO Summit XXXI
Speaker

Bo Lu
(CEO, FutureAdvisorspan>


 

 

 

 

 

 

 

Bo Lu is CEO and co-founder of FutureAdvisor, a robo advisor that has automated portfolio management. He is the eldest son of Chinese immigrants who fled communist China in the years after Tiananmen Square. The Lu's settled in Chicago, and Bo majored in computer science at the University of Illinois Urbana-Champaign. Mr. Lu joined Microsoft, where he met his co-founder Jon Xu, as a software engineer. An investor since the dot-com bubble, Mr. Lu saw that the young professionals working with him were unable to find unbiased financial advice. In 2010, he and Jon Xu founded FutureAdvisor, took it through YCombinator, and raised their first round. The company now employs nearly 40 people, manages about $250 million in assets (18 times more than a year ago), and is backed by Sequoia Capital and Canvas Venture Fund. Mr. Lu is a registered investment advisor and holds a Series 65 license. .

Mr. Lu's comments included:

  • “We do not bring the money to technology. We bring the technology where the money is.”
  • "This industry is about scales."
  • “There is no natural way of software answers the questions to our clients.”
  • “Today if you have very little money your only choices are a standalone digital advisor…We enable that tomorrow you can go to your bank.”
  • “Digital advice is here to stay and will play a larger role as the combination of digital and human advice, packaged appropriately together, continues to improve outcomes for both financial advisors and their clients.”

Joel Mandelbaum
(CEO, Strategic Insight)

 

 

Tiburon CEO Summit XXXI
Speaker
Joel Mandelbaum
(CEO, Strategic Insight
)


 

 

 

 

 

 

 

Joel Mandelbaum is the CEO of Strategic Insight. Joel has deep experience delivering information and workflow solutions to financial services clients and is a graduate of Massachusetts Institute of Technology. Joel joined Asset International from Warburg Pincus, where he was Entrepreneur in Residence and Senior Advisor where he advised on investments in financial software & technology. Previously, he held the position of CEO at Wall Street Systems. He also served as President of Thomson Market Information Services where he ran eight companies that included securities pricing, asset-backed securities, municipal bonds, trading, & electronic publishing. Asset International is the twelfth financial services business managed by Joel.

Mr. Mandelbaum’s comments included:

  • “We are dedicated to helping our clients and, in turn, deepen and broaden their offerings to their clients.”
  • “This acquisition expands Strategic Insight’s data offering and research and development capacity. BrightScope is well known for its unique retirement data and its technology innovation. We are excited by the opportunity to add retirement data to our portfolio and accelerate our commitment to the asset management community.”
  • “We are now realizing our ambition of creating the go-to supplier for the asset management community. Bringing Market Metrics and Matrix Solutions in to the Asset International family represents an excellent fit for our clients and employees, and we are delighted to have joined forces. Together we are building a dedicated enterprise to fully service the rapidly changing global investment management sector.”
  • “BrightScope is well known for its unique retirement data and its technology innovation. We are excited by the opportunity to add retirement data to our portfolio and accelerate our commitment to the asset-management industry.”
  • “We are now realising our ambition of creating the go-to supplier for the asset management community. Bringing Market Metrics and Matrix Solutions in to the Strategic Insight family represents an excellent fit for our clients and employees, and we are delighted to have joined forces. Together we are building a dedicated enterprise to fully service the rapidly changing global investment management sector.”

Steve McLaughlin
(Managing Partner, Financial Technology Partners)

 

 

Tiburon CEO Summit XXXI
Speaker
Steve McLaughlin
(Managing Partner, Financial Technology Partners
)


 

 

 

 

 

 

 

Financial Technology Partners, founded by Steve McLaughlin, Managing Partner, formerly a senior investment banker in Goldman Sachs Group’s Financial Technology Group and Financial Institutions Group in New York and San Francisco. Mr. McLaughlin has personally advised on hundreds of highly successful FinTech transactions over the years and no other investment banker has a more consistent track record for successfully completing deals across the wide array of FinTech that includes Payments, Banking Tech, Alternative Lending, Insurance Tech, Healthcare Tech, Financial Management Solutions and Financial BPO. Having earned a reputation for delivering record setting results for his clients, Steve has demonstrated that his unique focus and insight into the FinTech marketplace provides a competitive advantage unmatched in the sector.

Mr. McLaughlin’s comments included:

  • ”This is an evolution, not a revolution. Digital Wealth Management is already changing the way money is managed.”
  • "Some insurance players will make acquisitions on fintech companies.”
  • “Today’s robos and DWM will be eclipsed by the next wave. It’s all about having enough capital.”
  • “We realized early on that it takes specialized focus and deep industry insights to position FinTech in a way that helps buyers / investors properly understand the unique growth profile and synergies that exist in the sector.”
  • “Look at what ApplePay is doing.”

Nathan Mersereau
(President, Planning Alternatives)

 

 

Tiburon CEO Summit XXXI
Speaker
Nathan Merserau
(President, Planning Alternatives
)


 

 

 

 

 

 

 

With over twenty years of experience in the financial services industry, Nathan Mersereau brings a wealth of knowledge and expertise to Planning Alternatives. Prior to joining the firm in 2009, Nathan was the owner and President of Oakland Wealth Management. Nathan is responsible for leading the strategic direction of Planning Alternatives as well as overseeing WealthCare Advisors, an affiliate firm providing wealth management services to physicians. As a Certified Financial Planner®, Nathan provides comprehensive financial planning solutions to clients with a specialization in planning for financial independence. Nathan has contributed to various media publications including USA Today, the Wall Street Journal and Michigan Medicine, as well as appeared on NBC’s WDIV-TV Channel 4. Nathan holds a Bachelors of Arts in Administrative and Commercial Studies from the University of Western Ontario and a Bachelors of Commerce in Finance from the University of Windsor. He is a member of Young Presidents’ Organization (YPO), a premier peer network of chief executives and business leaders. Nathan is a contributing member of the CNBC – YPO Chief Executive Network.

Mr. Mersereau’s comments included:

  • ”Culture is the king.”
  • ”Through a personalized, proactive approach to client service, careful attention to firm culture, deep community engagement and dedication to philanthropic work, the firm is determined to humanize the world of finance.”
  • ”The more we can help clients understand that financial planning is simply a vehicle help them to plan for a future they want to experience, the more effective we can be.”
  • "Before making any business with someone ask yourself: Would I spend a day in a canoe with you?”.
  • “Be strategic and implement relentlessness.”

Sanjiv Mirchandani
(President, Fidelity Clearing & Custody)

 

 

Tiburon CEO Summit XXXI
Speaker
Sanjiv Mirchandani
(President, Fidelity Clearing & Custody)


 

 

 

 

 

 

 

Sanjiv Mirchandani is president of Fidelity Clearing & Custody Solutions, the business that offers a comprehensive clearing and custody platform, trading capabilities and business process and operations consulting to banks, broker-dealers, registered investment advisors, professional asset managers, strategic acquirers and retirement advisors and recordkeepers. Mr. Mirchandani joined Fidelity Investments in 1994 and has held several positions, including president of products and marketing for Personal and Workplace Investing, where he was responsible for the management, growth and profitability of Fidelity's consumer products and services for retail and workplace investors. Prior to that role, he acted as executive vice president of brokerage and asset management products within the personal investments business, including Fidelity's retail mutual funds, FundsNetwork, Portfolio Advisory Services, brokerage accounts and retirement, education and healthcare savings products. Before that, he was general manager for the retail retirement business, including contributory IRAs, rollover IRAs, self-employment plans and pre-retiree services. Prior to being named general manager, he was senior vice president of customer segment management, where he was responsible for marketing and improving customer profitability for all of Fidelity's retail customer segments. Mr. Mirchandani began his career at Fidelity as senior vice president of retail market planning, overseeing retail strategy with functional responsibility for market research, database marketing and industry analysis. Prior to joining Fidelity, Mr. Mirchandani spent six years at the American Express Company as a director of marketing in the consumer card business. He began his career at the Citibank consumer bank, where he worked for three years. Mr. Mirchandani received a bachelor of commerce degree from the University of Bombay, in India, in 1982 and an MBA from Cornell University in 1984.

Mr. Mirchandani’s comments included:

  • “Offering advice to baby boomers is where the business is.”
  • “In order to grow a successful business in the future, advisors must build a solid foundation of financial and wealth planning, intimately knowing clients, helping them manage significant life events and guiding them through varied market conditions to achieve their goals.”
  • “We believe that a planning-led practice will give firms an edge, and help them to be more future-ready, which is why we are working so closely with eMoney to bring many elements of our new platform to life.”
  • "The competitive advisor compels digital knowledge and financial advising."
  • “We have to consider a lot of exits as the industry is consolidating.”

Robert Moore
(CEO, Cetera Financial Group))

 

 

Tiburon CEO Summit XXXI
Speaker
Robert Moore
(CEO, Cetera Financial Group
)


 

 

 

 

 

 

 

Robert Moore was appointed CEO of Cetera Financial Group in 2016. As CEO, Mr. Moore assumes overall executive responsibility for Cetera Financial Group, which includes: Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, and Cetera Financial Specialists along with First Allied Securities, The Legend Group, Summit Brokerage Services, and Girard Securities. He also continues to serve as a member of Cetera’s board of directors. Mr. Moore was formerly the chief executive officer of Legal & General Investment Management America (LGIMA). Prior to joining LGIMA, Mr. Moore served as president of LPL Financial with oversight of the company’s primary client-facing functions, client service and operations teams. Prior to becoming president of LPL, he served as CFO. Before joining LPL Financial, Mr. Moore served as chief executive officer at ABN AMRO North America and La Salle Bank Corporation. He has also held a number of finance management positions, as well as key investment and portfolio management roles earlier in his career. He currently serves on the Insured Retirement Institute (IRI) Executive Committee, Advisory Board for the Securities Industry & Financial Markets Association (SIFMA), as well as a board member for Invest in Others, the Chicago Shakespeare Theater, and Chicago History Museum. He is a former member of the board of the Financial Services Institute, the development board for The University of Texas, Austin and has also served on the LIGMA board since 2008. Mr. Moore currently holds Series 7, 24, 27, 99 securities registrations and is a Charted Financial Analyst (CFA).

Mr. Moore’s comments included:

  • “I do believe this is a tremendous opportunity of simplifying our business.”
  • “Our unwavering commitment and deep-set beliefs to always put the client first led us to partnering with Carson Group. They present a uniquely expansive value that is truly distinctive and differentiated in our profession, extending from the complexities of helping an advisor grow their business to materially enhancing the client experience through integrated technology.”
  • "Client experience is gonna be proofed”.
  • “With this ecosystem, we’re gonna have a very powerful opportunity to have great conversations with our clients”.
  • "This is highly about personal advice more than about financial advice”.

Bob Moser
(CEO, Laird Norton Wealth Management)

     

     

    Tiburon CEO Summit XXXI
    Speaker
    Bob Moser
    (CEO, Laird Norton Wealth Management
    )


     

     

     

     

     

     

     

Bob Moser, CEO of Laird Norton Wealth Management since 2008 has more than 30 years of experience in private wealth management, financial services and business management. Laird Norton Wealth Management was founded by clients for the benefit of clients and it is Bob’s Chalenge to broaden and enhance operations at an organization that’s already exemplary at what it does.This means focusing on leadership-building and select growth opportunities as the decade unfolds, while at the same time ensuring safety and continuity for clients, employees and owners. Bob focuses on leadership-building and select growth opportunities as the decade unfolds, while at the same time ensuring safety and continuity for clients, employees and owners. He is also is a Board Chair at College Success Foundation, Advisory Board Chair at King County Parks Foundation, a board member for The Virginia Mason Foundation, a board member at Treehouse and a board member at Amara. In 2013, Bob lead LNWM’s efforts to create the King County Parks Foundation, in partnership with King County Parks

Mr. Moser’s comments included:

  • “There are two important components when you manage individual wealth: You have to fundamentally understand the economic drivers of the business and you have to truly have the best interest of clients at heart.”
  • “Even in these depressed economic times, we are still seeing wealth being created and it will continue to be a growth market for five to ten years.”
  • “It is really pretty common that you will see lots of family businesses where the first generation will start it, the second generation will build it and the third generation will move on.”
  • “We are a family business with deep roots in the Puget Sound region, and we understand the importance of strengthening the community for future generations.”
  • “I love this business. I love working with clients.”

Christine Nigro
(Vice Chairman, Axa Advisors)

 

 

Tiburon CEO Summit XXXI
Speaker
Christine Nigro
(Vice Chairman, Axa Advisors
)


 

 

 

 

 

 

 

Christine Nigro is vice chairman of AXA Advisors, the broker/dealer for the retail distribution channel for the company. Ms. Nigro is responsible for managing all aspects of the distribution platforms (Broker- Dealer and Crump), digital strategy and adoption, practice management and field support for 5,200 AXA Advisors financial professionals nationwide. Ms. Nigro has more than 20 years of experience in the financial services industry, and joined AXA Advisors in February 2006 as chief operating officer (COO) of the broker/dealer. As COO, she played a major role in enhancing the operational efficiency of the broker/dealer and in providing strategic guidance to expand its service, technology and investment product offerings to support the wide range of needs of AXA Advisors financial professionals and clients. Ms. Nigro has held numerous management roles for domestic and global organizations. Prior to joining AXA Advisors, she was vice president and director of Personal Financial Services, Investment Operations and Customer Service for JP Morgan Chase, where she was responsible for supporting telephone customer sales, service, and product administration. Previously, Ms. Nigro was vice president of the International Private Client Group for Merrill Lynch, where she was responsible for creating new products and developing local markets in the United Kingdom and Australia. Earlier, she spent eight years with Fidelity Investments: four in the United Kingdom where she was responsible for the execution, clearing and custody for the organization’s assets for more than 40,000 clients. Ms. Nigro earned a Bachelor of Arts degree from Ithaca College. She holds the FINRA Series 7, Series 24, 51 and U63 registrations.

Ms. Nigro’s comments included:

  • “We have already moved to relationships.”
  • “Money is not a person, you cannot hurt its feelings… If you don't like what your investments are doing, change them -- but don't be too hasty. Evaluate your investment strategy by taking another look at your current situation, future goals and appetite for risk.”
  • "Do the demographics because it makes business sense”.
  • “You are (to the audience) the key keepers four your customers.”
  • “We’re helping our advicers, and therefore our clients, to deal with changes”.

Russ Norwood
(Founding Partner, Venturi Wealth Management)

 

 

Tiburon CEO Summit XXXI
Speaker
Russ Norwood
(Founding Partner, Venturi Wealth Management
)


 

 

 

 

 

 

 

Russ Norwood is a Founding Partner for Venturi Wealth Management. Russ provides investment guidance and wealth management strategies to highly affluent clients, with particular depth in discretionary portfolio management, alternative investments, and estate planning. He has significant experience providing planning and investment advisory services to clients with concentrated wealth, predominantly from the ownership of closely held businesses or equity ownership in a publicly traded company. A strategic thinker, Russ is adept at connecting a client’s long-term wealth management needs with his or her near-term investment selection and structure. Prior to founding Venturi Wealth Management, Russ spent more than 23 years at Merrill Lynch, where he was a Managing Director and Private Wealth Advisor within the Private Banking and Investment Group. Russ has worked in financial services since 1986. He began his career at Prudential Bache in the Corporate Executive Services Department. Russ earned his B.A. in Business Economics from the University of Texas at AustinBarron’s magazine has named Russ one of the Top 1,000 Financial Advisors in America from the inception of the accolade in 2009 through 2015, inclusively.* Russ has served on a number of boards ranging from large-budget social service organizations to his school district’s education foundation. An Instrument-Rated Private Pilot and an avid aviator, he flies volunteer missions for Angel Flight, an organization that provides free medical transportation to patients battling cancer and other serious illnesses. In his free time, he enjoys hunting, fishing, tennis, and golf. Russ lives in Lakeway, Texas, with his wife Kelly and their two daughters.

Mr. Norwood’s comments included:

  • “The breakaway process is too difficult for most advisors. Less than 5% of advisors at wires are equipped to face the challenge. This favors independent firms or platforms that can create the right culture.”
  • “ To win more business in the UHNW market, custodians and vendors should focus on market segmentation. .”
  • “At Venturi Wealth Management we are bringing together professionals with deep experience and expertise that are focused on building an exceptional firm for our clients and our advisors without the pressures and conflicts of a traditional Wall Street Firm.”
  • “In a venturi, convergence creates acceleration and a lowering of pressure.”
  • “The RIA/Breakaway market is ripe for a technology aggregator. Technology delivery is very fragmented.”

Josh Pace
(CEO, Trust Company of America)

 

 

Tiburon CEO Summit XXXI
Speaker
Josh Pace
(CEO, Trust Company of America
)


 

 

 

 

 

 

 

Josh Pace assumed the role of CEO at Trust Company of America (TCA) in June, 2015 after serving as the Chief Business Officer at TCA, leading sales and business development efforts, since 2012. Joshua Pace joined Trust Company of America (TCA) in 2012 with over 20 years of experience in the growth and leadership of a diverse set of financial, service and technology companies. Prior to joining TCA, Joshua was the chief financial officer for a world leader in the luxury travel and rotary wing aviation industry. There, he led all financial and technology initiatives and played a significant role in the continued development of successful channel management and strategic initiatives driving business and customer growth in 46 countries. He currently serves as the founder and president of Bicycles for Humanity – Colorado, a non-profit delivering donated bicycle to healthcare workers in rural Africa. Joshua holds an MBA in international finance from the University of Colorado and a bachelor of science in accounting from the University of North Carolina, and is a certified public accountant.

Mr. Pace’s comments included:

  • “Independent advisors are somewhat under siege. There are some advisors who can’t keep up with the competitive threat that your custodian is your archrival. The frustration is palpable in the advisor community.”
  • “An open architecture style platform provides advisors with the greatest flexibility to manage their businesses their way.”
  • “Our integration with Riskalyze enables advisors to be more efficient as they assess the risk levels of client portfolios, as well as their own investment models as they construct suitable investment strategies.”
  • “An advisor who is working in the best interest of their clients understands that each investor's set of financial goals is unique -- and must be treated as such.”
  • “Investors have their best shot at a good financial outcome by working with an advisor.”

Alex Potts
(CEO, Loring Ward Group)

 

 

Tiburon CEO Summit XXXI
Speaker
Alex Potts
(CEO, Loring Ward Group
)


 

 

 

 

 

 

 

Alex Potts is the CEO of Loring Ward Group as well as CEO of the SA Funds – Investment Trust. Previously, he was the Chief Operating Officer of LWI Financial. He has also served as Chief Executive Officer of RNP Advisory Services, a registered investment advisory firm. Potts started the SA Funds – Investment Trust and founded Loring Ward Securities (formerly Assante Capital Management). In addition, he served as Executive Vice President and General Manager of LWI Financial. (formerly Assante Asset Management) Potts earned a Bachelor of Science Degree in Economics from Santa Clara University. He holds General Securities (Series 7), State Law (Series 63) and General Securities Principal (Series 24) licenses.

Mr. Potts’ comments included:

  • “We believe clients are lucky to have a trusted advisor in their lives, looking out for them.”
  • “That is really resonated. The days of the traditional Merrill Lynch broker are gone… The idea of independent financial advisers who keep consumers' best interests is here.”
  • “The advisors need to move past just the investment solution. The more they understand the relationship and manage the behavioral aspect of the client, the more it gives them an opportunity to succeed in the relationship and to establish the trust.”
  • “I believe fiduciary standards will massively change our industry…for the better.”
  • “We are driven to improve the financial aspects of people’s lives and the possibilities this enables.”

Lowell Putnam
(CEO, Quovo)

 

 

Tiburon CEO Summit XXXI
Speaker
Lowell Putnam
(CEO, Quovo
)


 

 

 

 

 

 

 

Lowell Putnam is CEO of Quovo, an investment insights company that empowers investors by reimagining elite portfolio analytics as one simple, intelligent platform. Quovo's proprietary technology combines big data horsepower with elegant simplicity, enabling investors of any size or sophistication level to make smarter investment decisions. Mr. Putnam previously worked at Lehman Brothers.

Mr. Putnam’s comments included:

  • “We can use data to tell a story or unlock an insight.”
  • “There is even more opportunity today than there was two years ago, because the incumbents are looking for change.”
  • “There is a really fine line between collecting hunches and collecting valid opinions.”
  • “The old model of crowd sourcing online would just say, aggregate as many voices as possible. We’re trying to refine that a little bit through more rigorous analysis.”
  • “Most advisors are small or medium size and trying to grow, most endowments are small and can’t afford a big solution.”

Todd Ruppert
(Founder, Ruppert International & Venture Partner, Greenspring Associates)


Tiburon CEO Summit XXXI
Speaker
Todd Ruppert
(Founder, Ruppert International & Venture Partner, Greenspring Associates
)

Todd Ruppert has over 30 years of experience in the financial services industry. He retired from T. Rowe Price, the global asset management firm with $775 billion under management, where he established the firm’s intermediary business, led the US institutional business, incepted the firm’s international business, was board member, CEO and president of T. Rowe Price Global Investment Services, board member and co-president, T. Rowe Price International, and a member of the operating steering committee of the T. Rowe Price Group. He is currently a venture partner at Greenspring Associates, a US based venture capital firm with over $4 billion under management. He is the founder and CEO of Ruppert International, a firm with diversified interests globally in various fields including education, financial services, disruptive technologies, publishing, arts and entertainment, and strategy consulting. He is president of London’s Royal Parks Foundation (USA), global ambassador for the Duke of Edinburgh’s Award, and a board member of the Rock & Roll Hall of Fame. His numerous board and advisory board roles are for the following organization‘s located around the globe: Education: INSEAD business school, Duke University, Kenyon College, Furman University, MPowerFinancing, Maryland Academy of Sciences, Cal Ripken Sr. Foundation Financial Services: Athena Capital, inStreamSolutions, SPQ Asia Opportunities, Tandem Bank, Trinity Street, Green Visor Capital, SenaHillPartners, Q Ventures, Nutmeg, Seedrs, Osmosis Investment Management, Brazilinvest Disruptive Technologies: Symbiont.io, AirexMarket, Trov, Tengi.org, Hubub, WISeKey Publishing: Investments & Pensions Europe, Funds Europe, Funds Global, Top 1000 Funds Arts and Entertainment: Pall Mall Art Advisors, Round World Entertainment, Bottletop.org, Iconic Images.net, Infinity Creative Media, Luxios Strategy Consulting: Gold Mercury.org, Laurel Strategies Todd is the executive producer of three documentary films –A Year in Burgundy, A Year in Champagne and A Year in Port. He was the co-producer of the musical, Happy Days.

Mr. Ruppert’s comments included:

  • ”We have to increase the need for illiquid investments in clients portfolio.”
  • ”While it is never easy to walk away from something that has been such a integral part of your life, I am now very much looking forward to devoting energy to my many other passions”
  • ”The Canadian market has undergone significant changes in recent years, and we find that there is good alignment between what clients are looking for and what T. Rowe Price is able to deliver, hence our desire to expand our efforts in the market at this time.”
  • "There are a lot of opportunities out there not only in fintech companies.”
  • ”It’s difficult for individual customers to have access to private companies as hedge funds do and this doesn’t make them happy.”

Steve Savage
(CEO, Litman Gregory Asset Management)

 

 

Tiburon CEO Summit XXXI
Speaker
Steve Savage
(CEO, Litman Gregory Asset Management
)


 

 

 

 

 

 

 

Steve joined Litman Gregory in 1999, became a principal in 2003, and became CEO in 2010. In addition to overall business management responsibilities, he directly oversees the Litman Gregory Masters Funds mutual fund business. Prior to joining Litman Gregory, Steve founded and served as executive director of both Value Line's mutual fund research and electronic publishing divisions. In addition to business management, Steve directly oversees research publishing operations including AdvisorIntelligence and the No-Load Fund Analyst. Steve is recognized in the national media for his industry expertise and has over 30 years of experience in mutual fund and investment research.

Mr. Savage’s comments included:

  • “We recognize that younger people would prefer a forward-thinking culture to one that is stodgy and conservative - this is easier to find in the tech world than the financial world but we see it as a way to differentiate in a very positive way.”
  • “Being forward-thinking means taking advantage of the flexibility that technology allows.”
  • “We chose Rosemont after due diligence that included talking to many of their competitors and many of the firms they’ve invested in.”
  • “There are serious problems in the way the industry balances its motives against shareholder interests.”
  • “Unique isn't necessarily all tech and social media.”

Skip Schweiss
(President, TD Ameritrade Trust Company)

 

 

Tiburon CEO Summit XXXI
Speaker
Skip Schweiss
(President, TD Ameritrade Trust Company
)


 

 

 

 

 

 

 

Skip Schweiss serves as President of TD Ameritrade Trust Company at TD Ameritrade Institutional. Mr. Schweiss is responsible for TD Ameritrade Institutional’s Retirement Plan Services platform. Mr. Schweiss serves as Managing Director of Advisor Advocacy & Industry Affairs. In this role, he is charged with increasing TD Ameritrade Institutional’s participation and voice in the financial services industry, and identifying key issues of importance to advisors and their clients. He served as an Executive Vice President of Fiserv Health. Prior to this appointment, he held a variety of management positions at Fiserv Investment Support Services. He holds Series 7 and 24 securities licenses and is a member of the Financial Planning Association. He has completed the Securities Industry Institute program, sponsored by the Securities Industry and Financial Markets Association (SIFMA) at the Wharton School of Business. Mr. Schweiss holds a B.S. in business administration from the University of South Dakota and a M.S. in finance from the University of Colorado..

Mr. Schweiss’ comments included:

  • “While our industry has made great progress, RIAs still have much work to do helping policy makers and investors understand that it matters a great deal from whom you get your investment advice.”
  • “Any recommendation for compensation makes you a fiduciary.”
  • “While our industry has made great progress, RIAs still have much work to do helping policy makers and investors understand that it matters a great deal from whom you get your investment advice.”
  • “You can almost always cut the cost of a retirement plan (for the plan sponsor) in half, just through better investment options.”
  • “ERISA-like fiduciary protections now apply toIRAs, and to IRA rollovers.”

Mike Sha
(CEO, SigFig)

 

 

Tiburon CEO Summit XXXI
Speaker
Mike Sha
(CEO, SigFig
)


 

 

 

 

 

 

 

Mike Sha is CEO of SigFig. Prior to SigFig, Mr. Sha held senior roles at Amazon where he launched and built the Amazon Visa Card into one of the fastest growing consumer loyalty cards in history, was one of the original inventors of Amazon's Prime program, as well as built sophisticated fraud detection models that leveraged statistical data analysis in preventing online fraud. Mike has a BA in Apllied Math and an MS in Computer Science from Harvard.

Mr. Sha’s comments included:

  • “In next couple of years is when robo advisors will grow up.”
  • "The scale will come up when putting robo technology in big institutions of the industry”.
  • “It is an honor to have been selected by a company with the reach and stature of UBS Wealth Management Americas for this strategic alliance. In today's market, it is increasingly important for financial firms to have access to the best technology possible.”
  • “If you look at the state of retail banking, it is not like companies who were first with online banking won that game.”
  • “Technology can help to run the business more efficiently.”

Erik Strid
(CEO, Concentus Wealth Advisors)

 

 

Tiburon CEO Summit XXXI
Speaker
Erik Strid
(CEO, Concentus Wealth Advisors
)


 

 

 

 

 

 

 

Erik is one of the co-founders of Concentus Wealth Advisors and currently serves as the CEO of the firm. With over 25 years of industry experience, Erik guides the firm’s overall strategy. Erik currently holds his general securities registrations and insurance licenses, as well as CERTIFIED FINANCIAL PLANNER™ and Chartered Financial Consultant designations. In addition to his formal designations, Erik has appeared on CNBC’s Worldwide Exchange, Fox News’ America’s News HQ, Live Well’s Mary on Money, CN8’s Money Matters Today and The Real Estate Connection. In 2012, Erik was one of thirteen advisors named to Main Line Today’s Top Financial Advisors list. Erik’s career in the financial services industry is based on two key principles: putting the client’s interests first and providing exceptional personal service. Through the personalized service that has become Erik’s trademark, he takes the time to prepare and educate our clients so that they feel more confident with each decision they make. His commitment to identifying specific investment needs—combined with outstanding personalized service—has resulted in many satisfying, long-term relationships for the firm.

Mr. Strid’s comments included:

  • “It’s important the client knows what rate he is paying for financial advising and what rate for money investment.”
  • "When you have talked a lot to people, they ask you: “Are you guys really serious?”.”
  • “It is a tough challenge as a lot of people do not success.”
  • “Concentus Wealth Advisors was built around our desire to deliver independent, integrated and comprehensive wealth management advice and planning solutions to the families we serve. Our clients are notable for their expertise at creating and accumulating wealth. They’re dedicated to building businesses, raising families, shaping communities and creating lasting, meaningful legacies.”
  • “We built this family business with the mission to help these families manage the complexity and responsibility of their wealth. We are looking forward to significantly growing our business as an independent RIA.”

Ron Suber
(President, Prosper Marketplace)

 

 

Tiburon CEO Summit XXXI
Speaker
Ron Suber
(President, Prosper Marketplace
)


 

 

 

 

 

 

 

As President of Prosper Marketplace, Ron is responsible for developing and executing the business development strategy to attract borrowers to the site, as well as ensure a balance between institutional and retail investors on the Prosper platform. He brings more than twenty years’ experience in sales, marketing and business development across the hedge fund, broker dealer and registered investment advisor industries. Before joining Prosper, Ron was Managing Director at Wells Fargo Securities. Prior to Wells Fargo, Ron served as the Head of Global Sales and Marketing and Senior Partner for Merlin Securities. Ron also served as President of Spectrum Global Fund Administration, and spent 14 years at Bear Stearns where he served as Senior Managing Director and Manager of Global Clearing Sales. Ron earned a B.A. in Economics from the University of California, Berkeley.

Mr. Suber’s comments included:

  • ”Think of money as you think of Uber and Airbnb.”
  • "The real threat are the messaging companies managing financial transactions.”
  • “Fifteen years ago over $2 trillion were concentrated in companies where just one was a tech company (Microsoft). Today are concentrated on top five tech market companies: Apple, Alphabet, Microsoft, Amazon and Facebook.”
  • “Google Venture is gonna make some important acquisitions soon.”
  • “There are many critical factors to consider before advising a company: The team members, their ability to build solutions, execute and the Total Addressable Market.”

 

Andy Swan
(CEO, LikeFolio)

 

 

Tiburon CEO Summit XXXI
Speaker
Andy Swan
(CEO, LikeFolio
)


 

 

 

 

 

 

 

Andy Swan is the CEO of LikeFolio. He is a technologist, entrepreneur, bourbon connoisseur, sports fan, and co-founder of LikeFolio. LikeFolio provides investors and companies with actionable research based on data derived from consumer actions on social media. LikeFolio scans Twitter for mentions of 30,000 brands and consumer products owned by over 2000 publicly traded companies. It scores those mentions on consumer sentiment and purchase intent. Through this unique process of gathering consumer data, LikeFolio’s proprietary approach lends itself to providing accurate predictions of revenue reports, and ultimately the direction of a stock. In 2015, LikeFolio was named one of the Most Innovative Companies in Personal Finance by Fast Company.

Mr. Swan’s comments included:

  • “Robo advisors buy advising for advisors. Help them to utilize their time focused on real opportunities with their customers.”
  • “It only made sense to turn to social media, which tells us so much about what companies young investors are connected with in real life. It allows them to feel more confident, because they understand what they are investing in”.
  • “Instead of asking yourself a question, ask your target audience a question "Will you buy this?".”
  • “A lot of brokerages sell (their services) well to 55-year-olds who are close to retirement. But they had a hard time reaching out to investors under 35. It only made sense to turn to social media, which tells us so much about what companies young investors are connected with in real life. It allows them to feel more confident, because they understand what they are investing in.”
  • “By tapping into Twitter, we can read consumer confidence and be a leading indicator of where the market is going to go. We’re basically polling 20% of America every day: That’s how many people use Twitter. We are able to search millions of mentions and pull together information in a way that investors can use.”

Bill Van Dresser
(Managing Partner, Legacy Wealth Advisors)

 

 

Tiburon CEO Summit XXXI
Speaker
Bill Van Dresser
(Managing Partner, Legacy Wealth Advisors
)


 

 

 

 

 

 

 

Bill VanDresser, previously Executive Vice President and Managing Director of Wealth Management at Gibraltar Private Bank & Trust in Coral Gables, Florida has more than 25 years of experience in the financial services industry. His background of more than two decades includes positions with Global Wealth Management Partners in New York and U.S. Trust Company in Connecticut.

Mr. Van Dresser’s comments included:

  • “The name Legacy Wealth Partners reflects our commitment to our clients and the growth and maturation of our own business”
  • “ The noose of compliance will choke away the ability to creatively serve wealthy clients under the “big bank” or “big broker/dealer” model”.
  • "Give me liberty or give me…what?” Independence is tremendous untilyou find out what it costs…what does it cost, and is it worth it?”
  • “I have had clients for many years, and they had fairly significant liquidity event… They asked me to open a multi-family office for them, so this is a new business with anchor clients”
  • "HighTower's platform infrastructure and community of elite advisors augment our ability to deliver impeccable service to our clients and fuel the continued growth of our firm.”

Tom Wagner
(Partner, Summit Wealth Group)

 

 

Tiburon CEO Summit XXXI
Speaker
Tom Wagner
(Partner, Summit Wealth Group
)


 

 

 

 

 

 

 

Tom is a Partner of the firm. He is a CFP® professional. He is a graduate of the University of Vermont with a degree in math, and holds an MBA in Finance from Wichita State University. After six years in the Air Force as a Captain and ICBM launch officer, he began his financial career as an international banker with a major bank. Returning to Vermont he was a commercial lender with Vermont’s largest bank, and later was a chief financial officer and chief operating officer of a manufacturing firm. Tom enjoys xc skiing, biking, swimming. He and his wife have two children and four grandchildren.

Mr. Wagner and others from Summit Wealth Group’s comments included:

  • “Sophisticated wealth management and life planning make our clients have the confidence that we understand their situation better than anyone else, and that we are able to make a difference in their lives.”
  • “We have been proactive about expanding our locations. And what ensemble practices look like include a very heavy reliance on the support team.”
  • “More and more, you see sole proprietors merging with larger practices like ours, where teamwork is at a premium.”
  • “Our support team to adviser ratio, for example, is three to one, where you often see the inverse as true at other places. That results in things like less burnout for advisers, giving them room so they can focus on doing what they do best.”
  • “This merger produced a firm that is much stronger than the two separate firms. Our vision is that Summit Wealth Group will be know nationally as a leading provider of customized financial solutions, and this merger helps move us closer to that goal.”

Jane Williams
(Chairman, Sand Hill Global Advisors)

 

 

Tiburon CEO Summit XXXI
Speaker
Jane Williams
(Chairman, Sand Hill Global Advisors
)


 

 

 

 

 

 

 

As Chair and co-founder, Jane Williams advances the business development goals and advises on the strategic direction of Sand Hill Global Advisors. She sits on the Executive Committee and is responsible for oversight of Sand Hill's compliance function. Jane participates in industry panels and organizations dealing with topics of best business practices; she is a member of the Fidelity Investment Advisors’ Council, and is Vice Chair of the Board of Governors of the Investment Adviser Association (IAA) and a Chair of the Government Affairs Committee.With over 38 years of experience in the investment field, Jane is recognized as an expert for the work she has done with individuals – particularly women – and couples in financial transition. Serving the family court as a qualified expert in several San Francisco Bay Area counties, she testifies on topics ranging from prudent investment strategies, rate of return, and related financial topics. She served for seven years as a Board member of the Silicon Valley Community Foundation, and its predecessor, Peninsula Community Foundation, chairing the Investment Committee for most of her tenure. She served as a Trustee for the University of California-Santa Barbara Foundation, and was a member of the Investment, Finance, and Executive Committees. Currently, Jane serves on the Advisory Board for Ravenswood Family Health Center in East Palo Alto, and is a member of the Palo Alto Medical Foundation Philanthropy Advisors Council. Jane is a frequent speaker in a variety of settings, including the Stanford Charitable Giving Conference. In October 2010, Jane received the Charles Schwab & Co. IMPACT® 2010 Leadership Award. In addition, Jane has been listed as one of the 100 Most Influential Women in Business in the San Francisco Bay Area by the San Francisco Business Times and San Jose/Silicon Valley Business Journal. She was named to the Top 50 Women in Wealth by Wealth Manager Magazine in May 2010. Jane was named to the Barron’s List of Top Women Financial Advisors in the nation in both 2014 and 2015. In September 2014, she was honored by the Palo Alto Chamber of Commerce with the Athena Award, which recognizes the achievements of outstanding professional and business women.

Ms. Williams’ comments included:

  • “We have to do something new and special for clients every day to keep the business and continue to grow.”
  • “We need to put client interests first — you can’t have a double standard for one group of advisors and another for brokers.”
  • “From the very beginning, we recognized that transitions at all stages of life affect the overall long term welfare of individuals and families.”
  • “Much of our work with women has involved educating, mentoring and advising them in cases where they must assume full financial responsibility during a transition such as marital dissolution or widowhood.”
  • “Members of the brokerage industry have to decide: Are their responsibilities to their firms or to their clients?”

John Wise
(CEO, InvestCloud)

 

 

Tiburon CEO Summit XXXI
Speaker
John Wise
(CEO, InvestCloud
)


 

 

 

 

 

 

 

InvestCloud CEO, is a serial entrepreneur and CEO responsible for creating several companies including: Synergo Technology, the UK leading Agency Brokerage solution; TCA Syntec, the first EAI company in Europe; Netik, the securities market leading data warehouse and portal company responsible for 70 of the World’s largest banks including: Citibank, UBS, PNC, SEI, Fortis, BNP, Scotia and Pershing. John received a double honors degree in Cybernetics and Computer Science, and is a Chartered Software Engineer.

Mr. Wise’s comments included::

  • “Apply what you know that works. Create leverage through open source and partnership programs. Avoid being a heavy coding shop and understand that offshore development can be a money pit and is likely to be a disaster due to proximity.”
  • “I know our clients in wealth management firms and financial institutions will welcome the opportunity to visit and collaborate on user-centric solutions in this innovative new space.”
  • “Accounting should be a commodity item. Most of the systems out there were created in the last century, quite a few of them not even in the 90s.”
  • “Too many visions will result in poor focus, poor quality, and horrible customer service. Don’t let any market bubble override common sense.”
  • “Understand the culture and financial drivers of a company and ensure that the vision and business models are directly in line.”

Justin Wisz
(CEO, Vestorly)

 

 

Tiburon CEO Summit XXXI
Speaker
Justin Wisz
(CEO, Vestorly
)


 

 

 

 

 

 

 

Justin Wisz is co-founder and CEO at Vestorly. Prior to this he has served as CEO for AdvisorLeap from October 2010 till November 2012. Mr Wisz was founder of ForwardPro Partners from March 2009 to October 2010.

Mr. Wisz's comments included:

  • “Consumer behavior tracking online seems to be the norm in almost every industry except financial services communications. To question whether it’s relevant in this industry is really questioning a much larger and demonstrated global truth about consumer behavior in the digital age.”
  • “People have come to expect real-time personalization and realize that this is not possible without data input for their behavior.”
  • “The currency of social media is content; the oil that runs the machine.”
  • “Advisors have no content. They hire a consultant or marketing assistant or an intern, or they spend hours trying to figure it out themselves and it never really leads to ROI.”
  • “When given a warm referral, some advisors are very good at converting them to clients and some are not.”

Attendees


Tiburon is pleased to announce that the following 181 Tiburon clients attended Tiburon CEO Summit XXXI:

 
  • Chip Roame (Managing Partner, Tiburon Strategic Advisors)
  • Mike Abelson (Executive Vice President, Corporate Development, AssetMark)
  • Mike Alfred (CEO, BrightScope)
  • Anil Arora (CEO, Envestnet Yodlee)
  • Ken Arthur (Co-Founder, ETFengine)
  • Steve Atkinson (Executive Vice President, Advisor Relations, Loring Ward Group)
  • Bill Bachrach (CEO, Bachrach & Associates)
  • Ryan Beach (President, CLS Investments)
  • Marty Beaulieu (Executive Chairman, Altegris Investments)
  • Walt Bettinger (CEO, The Charles Schwab Corporation)
  • Scott Blandford (Chief Digital Officer, TIAA)
  • Rod Boutin (General Counsel, FP Transitions)
  • Tom Bradley (President, Retail Distribution, TD Ameritrade)
  • Len Brennan (CEO, Russell Investments)
  • Matt Brown (CEO, CAIS Group)
  • Brad Bueermann (CEO, FP Transitions)
  • Roy Burns (Managing Director, TA Associates)
  • Kevin Byrne (Chief Financial Officer, Retirement Solutions Division, Pacific Life Insurance Company)
  • Eric Byunn (Managing Partner, Centana Growth Partners)
  • Bruce Cameron (Co-CEO, Berkshire Capital Securities)
  • David Canter (Executive Vice President, Practice Management & Consulting, Fidelity Institutional Wealth Services)
  • Mike Capelle (Business Head, Platform, United Capital Financial Partners)
  • Michael Carvin (CEO, SmartAsset)
  • Scott Case (Business Head, Venture Capital & Private Equity Groups, Silicon Valley Bank)
  • Bernie Clark (Executive Vice President, Advisor Services, The Charles Schwab Corporation)
  • Eric Clarke (CEO, Orion Advisor Services)
  • John Clendening (CEO, Blucora)
  • Alan Clopine (Co-CEO, Pure Financial Advisors)
  • John Cochran (Managing Director, Lovell Minnick Partners)
  • David Conover (CEO, EverBank Wealth Management)
  • Dean Cook (President, FTJ FundChoice)
  • John Coyne (Vice Chairman, Brinker Capital)
  • Amy Cribbs (Business Head, Bank & Institutional Channel Distrubution, Financial Advisor Services, The Vanguard Group)
  • Todd Crockett (Managing Director, TA Associates)
  • Jeff Cusack (Executive Managing Director, Wirehouse, RIA, & Independent Broker/Dealer Distribution National Sales, Nuveen Investments)
  • Mark Delfino (CEO, Hoyle Cohen)
  • Stuart DePina (President, Envestnet Tamarac)
  • Antonio DeRosa (Business Head, Advisory Wealth Management, Jeffries & Company)
  • Andrew Dodson (Partner, Parthenon Investment Partners)
  • Brian Dombkowski (CEO, Sand Hill Global Advisors)
  • Ric Edelman (Executive Chairman, Edelman Financial Services)
  • Gary England (General Counsel, Hilliard Lyons)
  • Michelle Farmer (General Counsel, Advisor Software)
  • Rob Foregger (Executive Vice President, NextCapital)
  • Terry Gaines (Chief Business Development Officer, First Rate)
  • Craig Gordon (Business Head, Clearing, DST Market Services)
  • Brian Granaghan (Software Engineer, Google)
  • Scott Grauer (CEO, BOK Financial Services)
  • Kyle Griswold (Partner, FTV Capital)
  • Bill Hackett (CEO, Matthews International Capital Management)
  • Bomy Hagopian (Partner, Berkshire Capital Securities)
  • Jim Hale (Founding Partner, FTV Capital)
  • Doug Hammond (CEO, NFP)
  • Scott Hanson (Co-CEO, Hanson McClain)
  • Paul Hatch (Business Head, Advice & Solutions, UBS Wealth Management)
  • Neesha Hathi (Executive Vice President, Strategy & Client Experience, Investor Services Platforms, The Charles Schwab Corporation)
  • Karl Heckenberg (Executive Vice President, Lyons Capital Partners)
  • Bob Heller (Board Member, Bank of Marin)
  • Jeff Hendren (Chief Commercial Officer, Quovo)
  • Bob Herrmann (CEO, Discovery Data)
  • Allegra Heyligers (Executive Vice President, Client Service & Engagement, BrightScope)
  • Marten Hoekstra (CEO, Emerging Global Advisors)
  • Anton Honikman (CEO, MyVest Corporation)
  • Relura Horton (President, Parallel Advisors)
  • Bob Huret (Founding Partner, FTV Capital)
  • Chris Jackson (Chief Technology Officer, Hanson McClain)
  • Peter Jantzen (Executive Vice President, Global Sales, Vestmark)
  • David Jegen (Partner, F-Prime Capital)
  • Terri Kallsen (Executive Vice President, Investor Services, The Charles Schwab Corporation)
  • Kunal Kapoor (CEO, Morningstar)
  • Niko Karvounis (Chief Strategy Officer, Quovo)
  • Craig Katz (Executive Vice President, Discovery Data)
  • Mike Kelly (Chief Investment Officer, FS Investments)
  • Chris Kitze (CEO, Safe Cash Payment Technologies)
  • Rob Klapprodt (President, Vestmark)
  • Aaron Klein (CEO, Riskalyze)
  • Kevin Knull (President, MoneyGuidePro)
  • Michael Kossman (Chief Operating Officer, Aspiriant)
  • Matthias Kuhlmey (Partner, Kuhlmey Group)
  • Stephen Langlois (Business Head, Strategic Business Development, Fidelity Wealth Technologies)
  • Bruce Lavine (CEO, 55 Capital Partners)
  • Brad Lawler (CEO, Draft)
  • Chuck Lewis (Vice Chairman, MyVest Corporation)
  • Jim Lockhart (Vice Chairman, WL Ross & Company)
  • Alice Lowenstein (Principal, Research Consulting, Litman Gregory Asset Management)
  • Bo Lu (CEO, FutureAdvisor)
  • Neal Maglaque (President, Business Development Advice & Wealth Management, Ameriprise Financial)
  • Ben Malka (Partner, F-Prime Capital)
  • Joel Mandelbaum (CEO, Strategic Insight)
  • Phil Markgraf (Chief Operating Officer, FTJ FundChoice)
  • Pat McClain (Co-CEO, Hanson McClain)
  • Brendan McConnell (Chief Operating Officer, Brinker Capital)
  • Mike McDaniel (Chief Investment Officer, Riskalyze)
  • Jack McDonald (CEO, The Conifer Group)
  • Steve McLaughlin (Managing Partner, Financial Technology Partners)
  • James Mendelsohn (Chief Marketing Officer, Edelman Financial Services)
  • Nathan Mersereau (President, Planning Alternatives)
  • John Michel (CEO, CircleBlack)
  • Sanjiv Mirchandani (President, Fidelity Clearing & Custody)
  • Steven Miyao (President, DST Kasina)
  • Viggy Mokkarala (Executive Vice President, Strategic Business Development, Envestnet)
  • Bill Monroe (Chief Operating Officer, MML Investor Services)
  • Robert Moore (CEO, Cetera Financial Group)
  • Bob Moser (CEO, Laird Norton Wealth Management)
  • Christine Nigro (Vice Chairman, Axa Advisors)
  • Ryne Nishimi (Executive Vice President, PIMCO)
  • Russ Norwood (Founding Partner, Venturi Wealth Management)
  • Ed O’Brien (CEO, eMoney Advisor)
  • Harry O’Mealia (CEO, 1919 Investment Counsel)
  • Doug Ongaro (Executive Vice President, RIA Channel, PIMCO)
  • Bob Oros (Executive Vice President, RIA Segment, Fidelity Clearing & Custody)
  • Vikas Oswal (CEO, Advisor Partners)
  • Josh Pace (CEO, Trust Company of America)
  • Michael Parker (Chief Development Officer, Enterprise Development, HighTower)
  • Ryan Parker (CEO, Edelman Financial Services)
  • John Phillips (Executive Vice President, Strategic & Global Sales, National Financial Services, Fidelity Investments)
  • Alex Potts (CEO, Loring Ward Group)
  • Lowell Putnam (CEO, Quovo)
  • Matt Radgowski (Chief Operating Officer, Morningstar Investment Management)
  • Kevin Rafferty (CEO, Vertical Management Systems)
  • Michael Raneri (Leader, Strategy & FinTech Innovation, PwC Strategy&)
  • Glenn Reed (Managing Director, Strategy Division, The Vanguard Group)
  • Reno Regalbuto (CEO, AdvisorTrust)
  • Jeff Rehm (Partner, Investments, Legacy Wealth Advisors)
  • Brandon Rembe (Chief Technology Officer, Envestnet Tamarac)
  • Rico Ricciardi (CEO, Mercury Capital Advisors)
  • Chris Riggio (Chief Revenue Officer, BrightScope)
  • Marianne Rivera (Associate Publisher, Wealth Management.Com)
  • Greg Rogers (President, Raylign Advisory)
  • Scott Ruddick (Chief Marketing Officer, Advisor Partners)
  • Todd Ruplinger (CEO, 1ClickCoverage)
  • Todd Ruppert (CEO, Ruppert International & Venture Partner, Greenspring Associates)
  • Neil Saint Claire (Chief Growth Officer, Vestorly)
  • Tony Salewski (Managing Director, Genstar Capital)
  • Bill Salus (CEO, Paddock Consultancy)
  • Steve Savage (CEO, Litman Gregory Asset Management)
  • Carrie Schwab-Pomerantz (President, The Charles Schwab Foundation)
  • Skip Schweiss (President, TD Ameritrade Trust Company)
  • Mike Sha (CEO, SigFig)
  • Tim Shannon (President, CAIS Group)
  • Sterling Shea (Associate Publisher, Advisory & Wealth Management Programs, Barronxs)
  • Jeff Sills (Business Head, National Advice & Planning, Capital One Investing)
  • Babu Sivadasan (President, Envestnet Retirement Solutions)
  • David Smith (Founding Publisher, Financial Advisor & Private Wealth Magazines)
  • Michael Smith (Chief Operating Officer, InvestCloud)
  • Karl Sprules (Chief Technology Officer, AB Global)
  • Noel Stave (Chief Operating Officer, RBC Correspondent & Advisor Services)
  • Brian Stimpfl (Business Head, Scottrade Advisor Services)
  • Erik Strid (CEO, Concentus Wealth Advisors)
  • Paul Strid (Chief Operating Officer, Concentus Wealth Advisors)
  • Hal Strong (Operating Partner, Genstar Capital)
  • Brian Strope (Research Scientist, Google)
  • John Stuart (Chief Marketing Officer, InvestCloud)
  • Ron Suber (President, Prosper Marketplace)
  • Andy Swan (CEO, LikeFolio)
  • Randy Swan (CEO, Swan Global Investments)
  • Brett Thorne (Business Head, RBC Correspondent & Advisor Services)
  • Frank Trotter (Chairman, EverBank Global Markets)
  • Mark Trousdale (Executive Vice President, Professional Services, InvestCloud)
  • John VanDerHeyden (Chief Operating Officer, Kestra Financial)
  • Bill VanDresser (Managing Partner, Legacy Wealth Advisors)
  • Jeannine Vanian (Chief Operating Officer, Kayne, Anderson, & Rudnick)
  • Chris Van Mierlo (Chief Marketing Officer, Retirement Solutions Division, Pacific Life Insurance Company)
  • Tom Wagner (Partner, Summit Wealth Group)
  • Corey Walther (Chief Operating Officer, Allianz Life Financial Services)
  • Bob Ward (Chief Operating Officer, Vertical Management Systems)
  • Steve Warren (Co-Founder, MyVest Corporation)
  • Ben Weisshaut (CEO, Wishlife)
  • Craig Wietz (President, First Rate)
  • Jane Williams (Chairman, Sand Hill Global Advisors)
  • Mike Wilson (Chief Operating Officer, AdvisoryWorld)
  • Phil Wilson (CEO, AdvisoryWorld)
  • Kevin Winters (Executive Vice President, Global Wealth Management, PIMCO)
  • John Wise (CEO, InvestCloud)
  • Justin Wisz (CEO, Vestorly)
  • Mark Worsey (Chief Operating Officer, MyVest Corporation)
  • Bill Wostoupal (President, Northern Lights Distributors)
  • John Wotowicz (CEO, inStream Solutions)
  • John Yackel (Executive Managing Director, Institutional Business Development, Envestnet)
  • Min Zhang (CEO, Totum Wealth)
  • Yoav Zurel (CEO, FeeX)
   



Tiburon CEO Summit XXX: April 5-6, 2016

 

Tiburon CEO Summit XXX was held April 5-6, 2016, at the Ritz Carlton Hotel in New York, NY. Tiburon CEO Summit XXX started at 7:45am on Tuesday, April 5, 2016, included a group dinner that night, and finished at 11:30am on Wednesday, April 6, 2016. Senior industry executives took two days out of their busy schedules to participate. There were over twenty sessions. Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXX included speakers Rob Arnott (Chairman, Research Affiliates), Don Phillips (Executive Vice President, Strategic Global Sales, National Financial Services), Luis Aguilar (Commissioner, Securities & Exchange Commission), Peter Algert (CEO, Algert Global), Anil Arora (CEO, Yodlee), Dave Barton (CEO, Mercer Advisors), Jud Bergman (CEO, Envestnet), Marty Bicknell (CEO, Mariner Holdings), Josh Brown (CEO, Ritholtz Wealth Management), Ryan Caldwell (CEO, MX Technologies), Eric Clarke (CEO, Orion Advisor Services), Alan Cohn (Co-President, Sage Financial Group), Steve Condon (President, Truepoint Wealth Counsel), Dean Cook (President, FTJ FundChoice), Ben Cukier (Managing Partner, Centana Growth Partners), Mike Durbin (President, Fidelity Wealth Technologies), Ric Edelman (CEO, Edelman Financial Services), Ed Forst (CEO, Lincoln Investment), Cody Foster (Co-Founder, Advisors Excel), Sherrie Grabot (CEO, GuidedChoice), Fred Jonske (CEO, M Financial Group), Richard Joyner (CEO, Tolleson Private Wealth Management), Roger Kafker (Managing Director, Asset Management, TA Associates), Kevin Knull (President, PIEtech), Charlie Kroll (President, Ellevest), Jeff Lovell (CEO, Lovell Minnick Partners), John Mauldin (Chairman, Mauldin Economics), Sean McShea (President, Ryan Lass Asset Management), Joe Mrak (CEO, FolioDynamix), Michael Nathanson (CEO, The Colony Group), Rogr Ochs (CEO, HD Vest Financial Services), Deval Patrick (Managing Director, Bain Capital Partners), Matt Patsky (CEO, Trillium Asset Management), Alex Potts (CEO, Loring Ward Group), Brad Pries (CEO, Sawtooth Solutions), Tony Salewski (Managing Director, Genstar Capital), Jeremy Schein (Managing Director, Corsair Capital), Aamir Sheikh (Managing Partner, Echelon Capital Strategies), Clara Shih (CEO, Hearsay Social), Andy Sieg (Business Head, Global Wealth & Retirement Solutions, Banke of America Merrill Lynch), Michael Stier (CEO, Adhesion Wealth Advisor Solutions), Scott Stuart (Managing Partner, Sageview Capital), Andrew Tsai (Managing Principal, Chalkstream Capital Group), & Anna-Marie Wascher (CEO, Flat World Partners). Tiburon CEO Summit XXX also featured the firm's traditional client-centric panel discussions and two networking-based social events.

Keynote Presentation

Tiburon CEO Summit XXX featured a keynote presentation by Tiburon Managing Partner Chip Roame regarding the state of the financial services industry, focused on the rapid evolution being driven all across the business value chain. This presentation served as the backdrop and overview of the entire Tiburon CEO Summit.