Prior CEO Summit B

Tiburon CEO Summits

Tiburon has held 32 prior Tiburon CEO Summits, with the first Tiburon CEO Summit taking place in 2001. Details of the most recent Tiburon CEO Summit XXXII are included below. For details of earlier Tiburon CEO Summits, please click here: 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)
   

Prior Tiburon CEO Summits

As noted above, details on prior Tiburon CEO Summits are also available here:

2016-2017, 2014-2015, 2012-2013, 2010-2011, 2008-2009, 2006-2007, 2004-2005, & 2001-2003,