Tiburon CEO Summits
Tiburon has held 29 prior Tiburon CEO Summits, with the first Tiburon CEO Summit taking place in 2001. Details of the recent Tiburon CEO Summit XXIX are included below. For details of earlier Tiburon CEO Summits, please click here: Most Recent, 2014-2015, 2012-2013, 2010-2011, 2008-2009, 2006-2007, 2004-2005, & 2001-2003.
Tiburon CEO Summit XXIX: October 13-14, 2015
Tiburon CEO Summit XXIX was held
October 13-14, 2015, at the Ritz Carlton Hotel in San Francisco, CA.
CEO Summit XXIX featured a keynote presentation by Tiburon
Managing Partner Chip Roame regarding the state of the financial
services industry, focused on the rapid evolution being driven all
across the business value chain. This presentation served as the
backdrop and overview of the entire Tiburon CEO Summit.
Roame (Managing Partner, Tiburon Strategic Advisors)
Tiburon CEO Summit XXIX featured a keynote presentation by Tiburon Managing Partner Chip Roame regarding the state of the financial services industry, focused on the rapid evolution being driven all across the business value chain. This presentation served as the backdrop and overview of the entire Tiburon CEO Summit.
Chip Roame (Managing Partner, Tiburon Strategic Advisors)
Tiburon Strategic Advisors is pleased to provide a summary of the content of its Tiburon CEO Summit XXIX Keynote Presentation. Chip Roame (Managing Partner, Tiburon Strategic Advisors) gave a presentation broadly addressing the state of the financial services industry, with a specific focus on the growing wealth management market.
Charles ("Chip") Roame is the Managing Partner of Tiburon Strategic Advisors and a leading strategic consultant to CEOs, other senior executives, & boards of directors in the banking, insurance, brokerage, & investment management markets. Prior to forming Tiburon in 1998, Mr. Roame served in similar capacities, first as a management consultant at McKinsey & Company, and later as a business strategist at The Charles Schwab Corporation. Mr. Roame is quoted daily throughout the media and, due to Tiburon's widely shared research, he may be the most frequently demanded board advisor. His particular expertise is that of corporate strategy for larger financial services firms, designing broad multi-faceted strategies and making trade-offs between alternative businesses, products, & markets.
At Tiburon, Mr. Roame has responsibility for all of the firm's consulting, research, & marketing activities which keeps him on the leading-edge of strategic initiatives in the industry's fastest growing businesses -- mutual funds, exchange traded funds, hedge funds & other alternative investments, 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 financial services industry venture capital & private equity opportunities and mergers & acquisitions transactions. At Tiburon, Mr. Roame has led over 1,700 client engagements for over 400 corporate clients since 1998.
Mr. Roame has won numerous awards throughout the consulting and financial services industries, including being named one of the power 25 elite by Investment News, one of the 25 most influential individuals in the advisor business by Investment Advisor magazine, & one of the five experts with the answers by Boomer Market Advisor. Tiburon has also been named one of the fastest growing companies by the San Francisco Business Times in multiple years.
Mr. Roame is frequently sought as a board member by Tiburon client company boards. He presently serves as a board member at Envestnet (NYSE: ENV), as a board member of the parent company of The Edelman Financial Group (Ric Edelman’s business backed by Lee Equity Partners), 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.
Overview of Tiburon
CEO Summit XXIX Keynote Presentation
Tiburon CEO Summit XXIX --> Insights Behind The Six Biggest News Stories
Context Setting: Consumers & Their Money
Chip stated "in my mind we all serve consumers at the end of the day so I am going to try to get you to focus here. I am very proud to have a consumer panel; I think the more we listen to consumers, the better your service and product offerings are going to be." Consumer households have $38.3 trillion investable assets, $59.4 trillion financial assets, $96.9 trillion total assets, and $85.7 trillion net worth. Chip relayed "the average American household has $800,000 of assets and net worth of $700,000. Those are the facts. It is useless, but those are the facts. The number you should care about is the median, a far more interesting number. It is radically lower. What is the median American household’s investable assets? $9,100." There are 10.1 million consumer households with over $1.0 million net worth, back above its prior peak of 9.2 million in 2007. Tiburon CEO Summit XXIX attendees estimate that ~50%-75% of financial advisor clients are baby boomers. Chip reflected "the baby boomers own all the businesses. How they liquidate those over the next couple of years will be interesting." Tiburon CEO Summit XXIX attendees believe that baby boomers are not financially ready for retirement. Tiburon CEO Summit XXIX attendees continue to believe that the lack of savings is baby boomers’ biggest financial issue. Chip said "about 25% of America are baby boomers... one thing to pay attention to is chasing the shiny penny. I am not against serving the generation X population or the millenials. But you do yourself a big disservice by going there too quickly or too absolutely because the baby boomers still have all the money. They are the gold pot right now." Tiburon CEO Summit XXIX attendees expect that more consumers will retire at later ages over the next five years. Baby boomers will liquidate some portion of the $58.6 trillion in retirement plans, personal assets, & small businesses. Chip relayed “baby boomers have saved a lot of money, but in places that are not counted in the numbers you see quoted in the Wall Street Journal. In the next few years, you will see the savings rate go up. This does not mean we are not saving more - it means baby boomers are transferring their 401K to IRas, downsizing their homes, and liquidating their businesses."
Exchange Traded Funds
Chip began with the statement "ETFs are going to dominate the world." Tiburon CEO Summit XXIX attendees have repeatedly said that they cannot predict stock market movements. Tiburon CEO Summit XXIX attendees increasingly believe that they cannot predict interest rate movements (it took some convincing!). Tiburon CEO Summit XXIX attendees mostly utilize a mix of active & passive portfolio management styles, with the passive-only crowd growing larger than the active-only crowd. Exchange traded funds have gathered $2.1 trillion assets under management, up from $102 billion in 2002. Exchange traded funds have $232 billion net flows, up from $29 billion in 2001. BlackRock is the leading investable assets firm in terms of assets under management with $4.7 trillion, with the three ETF leaders all in the top four. Tiburon CEO Summit XXIX attendees increasingly expect that ETFs will surpass mutual funds in net flows over the next five years. Tiburon CEO Summit XXIX attendees expect that ETF market share will broaden in the next five years. Chip relayed "an interesting inflection point is that the global ETF market that started in the 1990s is now the same size as the hedge fund market that started in 1940s." and "at the domestic level, the $2.1 trillion dollars in US ETFs is now the same as that in the index mutual fund business that started in the 1970s." Tiburon CEO Summit XXIX attendees expect that ETF strategists will see huge growth over the next five years (in spite of F-Squared). Chip predicted “ETF strategy providers are going to grow - who by the way still charge far too much and the robos will push that price down - but they will be a big important model for a long time to come." Tiburon CEO Summit XXIX attendees anticipate that active exchange traded funds will have moderate growth over the next five years. Index mutual funds have gathered $2.1 trillion assets under management, up from $384 billion in 2000. Chip advised “index mutual funds are growing. Do not move away from them. There is still plenty of money flowing there." Index mutual funds’ assets under management have been primarily gathered in equity funds. The Vanguard Group has $216 billion net flows, up from $85 billion in 2010. Chip reflected "Vanguard’s flows are astronomical. Their flows would be the tenth largest mutual fund company in America. Just their flows. They get 15% of mutual fund flows today." The five largest stock mutual funds are all low cost Vanguard & American Funds mutual funds. The Vanguard Group has gathered over three-quarters on its assets under management in index mutual funds & exchange traded funds. The Vanguard Group has gathered one-third of its assets under management from financial advisors. Dimensional Fund Advisors has gathered $406 billion assets under management, up hugely since 1983. Dimensional Fund Advisors has gathered more than half of its assets under management from financial advisors. Dimensional Fund Advisors’ financial advisor channels business has gathered $165 billion assets under management, up from $13 billion in 2002. Chip shared "what I do believe is that high-cost investing is dying and low-cost investing is taking over. If you actually look at the fund flows, you will see them going to low-cost products in every category. What we are really seeing is a cost compression in every category, more so than everyone running to a specific structure."
Liquid alternative funds have gathered $309.2 billion assets under management, up from $174.6 billion in 2012. Liquid alternative funds’ net flows are $3.1 billion, down from their peak of $96.9 billion in 2013. Tiburon CEO Summit XXIX attendees have become decidedly less optimistic on liquid alternatives over the next five years. Hedge funds have gathered $2.8 trillion assets under management, up from $491 billion in 2000. Hedge funds have $76.4 billion net flows, up from $23.3 billion in 2000 and -$131.2 billion in 2008. Hedge funds returned 3.3%, down from 9.1% in 2013. Tiburon CEO Summit XXIX attendees mostly believe that hedge fund managers do not add value on post fee basis. Hedge funds have not been performing as well as some low cost mutual funds that do some of the same things.
There are at least 46 online advice firms. All online advice firms have gathered $217.4 billion assets under management, up from $118.0 billion in 2012. Online advice firms can specifically be defined to include defined contribution plan focused firms & B2C focused firms. Online advice firms’ assets under management are dominated by the defined contribution focused firms. The leading online advice firms are the defined contribution plan focused firms & the large discount brokerage firms & mutual fund companies. Tiburon CEO Summit XXIX attendees have become far more aware of the online advice models when asked to name the most impressive. Tiburon CEO Summit XXIX attendees have become decidedly optimistic on online advice firms over the next five years. Two-thirds of financial advisors believe that online advice firms will have no or little impact on their business. Tiburon CEO Summit XXIX attendees said that the discount brokerage firms will see moderate growth over the next five years. Motif Investing offers 100 pre-built motifs, up from 50 in 2011.
Two-thirds of wirehouse & regional broker/dealer brokers who move on their own in any year move to other wirehouses or regional broker/dealers. The bulk of the break-away broker movement really just goes in circles, with brokers moving from one wirehouse to the next for upfront payments. Wells Fargo Advisor Network’s share of financial advisors coming from wirehouses is 65%, compared to 12%-31% at some other leading independent broker/dealers. Tiburon CEO Summit XXIX attendees said that the break-away brokers trend will grow hugely or at least moderately over the next five years. Some have huge predictions for the share of wirehouse brokers who may break-away. Tiburon CEO Summit XXIX attendees believe that wirehouses have a neutral or negative future over the next five years.
The insurance & independent broker/dealer channels lead the financial advisor channels in terms of number of financial advisors with 74,804 & 67,290. The wirehouse channel leads the financial advisor channels in terms of assets under administration with $5.9 trillion. The five year CAGR of dually registered advisors is 9.0%. Primerica, Morgan Stanley, Bank of America Merrill Lynch, & Wells Fargo Corporation have the most financial advisors. 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. Tiburon CEO Summit XXIX attendees said that LPL financial & The Charles Schwab Corporation have the most impressive financial advisor forces. Tiburon CEO Summit XXIX attendees said that the number of independent advisors will grow the fastest over the next five years. Independent advisors can specifically defined to include independent reps & fee-based financial advisors (RIAs). Independent broker/dealer reps still account for the largest share of independent advisors, although both fee-based financial advisors & dually registered financial advisors are gaining market share. LPL Financial leads the independent reps market in number of financial advisors. LPL Financial also leads the independent broker/dealer market in assets under administration. The Charles Schwab Corporation, Td Ameritrade, & Fidelity Investments are the leading fee-based financial advisor custodians in terms of number of fee-based financial advisor clients, with 7,100, 5,000, & 3,300 respectively. Schwab Advisor Services & Fidelity Institutional Wealth Services are the leading fee-based financial advisor custodians in terms of assets under administration, with $1.1 trillion & $753 billion respectively. TD Ameritrade had a 229% change in fee-based financial advisor assets under custody from 2007-to-2014. Some analysts have huge predictions for the fee-based financial advisor market, with one suggesting 36,900 fee-based financial advisors by 2019. Tiburon CEO Summit XXIX attendees have become less optimistic on independent broker/dealers over the next five years. Tiburon CEO Summit XXIX attendees remain very optimistic about custodians over the next five years.
Turnkey Asset Management Programs (TAMPs)
Envestnet has gathered $713.4 billion assets under administration & management, up 800% since 2007. FolioDynamix’s FDx platform has gathered $700 billion assets under administration, up from $445 billion in 2012. Loring Ward Group’s LWI Financial has gathered $13.0 billion assets under management, up from $1.6 billion in 1996. Dimensional Fund Advisors’ Dimensional Fund Advisors (US)’s fee-based financial advisor business’ TAMPs business has gathered $50 billion assets under management, up over 400% since 2005. Tiburon CEO Summit XXIX attendees believe that TAMPs will realize huge or at least moderate growth over the next five years.
The Missing News Story: Financial Advisor Bifurcation
Financial Advisor Stagnation
Financial advisor channels firms have 301,126 financial advisors, down from its peak of 339,450 in 2004. Tiburon CEO Summit XXIX attendees increasingly think that the number of financial advisors will decrease or at best remain steady over the next five years. Tiburon CEO Summit XXIX attendees believe the role of financial advisors is gaining value to clients, although this view is declining. Tiburon will seek to prove the financial advisor bifurcation; it is possible that a few dozen fee-based financial advisors are driving the markets’ growth. The mutual fund store has 133 offices, up from 73 in 2011. United Capital Financial Partners has 70 offices, up from fourteen in 2007. HighTower Holding has 49 offices, up from twelve in 2011. Edelman Financial Services has 41 offices, up from one in 2005. The Mutual Fund Store serves 37,000 clients, up from 30,000 in 2010. Edelman Financial Services serves 28,000 clients, up from 5,000 in 2003. Fisher Investments’ Private Client Group serves 27,000 private client group clients, up from 12,000 in 2004. Fisher Investments’ Private Client Group manages $35 billion in assets, up from $1 billion in 1997. Edelman Financial Services has gathered $14.9 billion assets under management & administration, up over 400% since 2003. Tiburon CEO Summit XXIX attendees said that United Capital Financial Partners, Edelman Financial Services, & HighTower have the best chance at building nationwide financial advisory business. Edelman Financial Services has $131.9 million assets under management & administration per financial advisor.
Edelman Financial Services’ average client has $522,000 assets under management & administration, up from $380,000 in 2009. Edelman Financial Services has 113 financial advisors, up from nineteen in 2003. Fisher Investments’ investment counselors, vice presidents, account executives, & client operations associates account for over half of its employees. Fisher Investments’ private client group creates over three-quarters of its leads from direct mail and web advertisements. Fisher Investments’ private client group attracts two-thirds of its clients to seminars each year. Edelman Financial Services will conduct over 600 seminars, up from 75 in 2012. Tiburon CEO Summit XXIX attendees said that consumers understand that rising rates will impact investment portfolios, but do not understand the specifics. Tiburon CEO Summit XXIX attendees said that downside protection strategies will experience huge growth over the next five years. Tiburon CEO Summit XXIX attendees said that the importance of video service will see moderate growth over the next five years. And in a strange twist…financial advisor fees are down…err…up. Financial advisor average fees range from 1.26% to 0.66% based on portfolio size. Fisher Investments’ private client group’s pricing schedule ranges from 1.25% to 1.00%, and the firm uses a blended methodology. Edelman Financial Services’ pricing schedule ranges from 2.00% to 0.50%.
Financial Services Industry Venture Capital & Minority Growth Equity Investments
Venture capital firms raised $33.0 billion funds, up 75% since 2010 but down from $85.1 billion in 2000. Venture capital investment reached $48.4 billion, up from $30.0 billion in 2013 but down from its peak of $105.0 billion in 2000. SoFi has raised the most venture capital amongst financial services firms, with $1.2 billion. Wealthfront, Betterment, & Personal Capital Corporation have raised the most venture capital amongst the online advice firms. Tiburon CEO Summit XXIX attendees said that venture capital’s bet on online financial advice will continue at a high or moderate level in 2016.
Financial Services Industry Initial & Secondary Public Offerings
There were 275 initial public offerings in 2014, up from 222 in 2013 but down from its peak of 406 in 2000. Initial public offerings raised $85.3 billion in 2014, up from $54.9 billion in 2013 but down from its peak of $96.9 in 2000. There were 36 initial public offerings in the financial sector in 2014, down from 45 in 2013. Financial services industry public offerings included Worldpay, National Commercial Bank, & Medibank Private. Tiburon CEO Summit XXIX attendees said financial services industry initial & secondary public offerings will experience moderate growth.
Financial Services Industry & Financial Advisor Mergers & Acquisitions
Financial Services Industry Mergers & Acquisitions
Mergers & acquisitions’ deal value was $3.5 trillion, up from $2.3 trillion. Private equity firms invested $12.0 billion in financial technology firms, up from $4.0 billion in 2013. Financial technology companies Sungard, Advent Software, Russell Investments, & SNL Financial all sold in the last year for large sums. Leading investment management firms mergers & acquisition deals included TIAA-CREF’s acquisition of Nuveen, Santander Asset Management’s Acquisition of Pioneer Global Asset Management, and the pending acquisition of Russell Investments. The leading public brokerage merger & acquisition deal was Stifel Financial Group’s acquisition of Sterne Agee for $150 million. Tiburon CEO Summit XXIX attendees said that financial services firm merger & acquisition activity will increase.
Financial Advisor Mergers & Acquisitions
There were 54 fee-based financial advisors mergers & acquisitions transactions in 2014, up 35% since 2006. There have been $32.6 billion fee-based financial advisors assets under management acquired through mergers & acquisitions transactions in 2014. Hellman & Friedman’s acquisition of Edelman Financial Services was the leading financial advisors acquisition at $14.8 billion. Tiburon CEO Summit XXVIII attendees said that the most successful financial advisor aggregators are HighTower & Focus Financial Partners. Tiburon CEO Summit XXIX attendees said that financial advisor consolidation activity will remain steady or accelerate this year. Tiburon CEO Summit XXIX attendees said that roll-up firms will be the most frequent financial advisor acquirer.
Financial Services Industry Valuations & Activists Opportunities
Financial services firms account for 10%+ of the US economy and 20%+ of the Standard & Poor’s 500. Activist funds have gathered $120 billion assets under management. Activist hedge funds have $10.1 billion net flows, up from $3.4 billion in 2005. Carl Icahn & Southeastern are the leading activist investor funds in terms of value of disclosed US equities with $22.3 billion & $18.3 billion. The average net return among activist hedge funds outpaced the total hedge fund universe in both the short & long term. Financial services industry activist fund specific targets include American Realty Capital Partners, LPL Financial Holdings, State Street Corporation, & The Bank of New York Mellon Corporation.
Along with Tiburon's Managing Partner Chip Roame, Tiburon CEO Summit XXIX included speakers Blaine Aikin (CEO, fi360), Anil Arora (CEO, Yodlee), Noreen Beaman (CEO, Brinker Capital), Carol Benz (Managing Principal, Bingham Osborn & Scarborough), Adam Blitz (CEO, Evanston Capital Management), Matt Brown (CEO, CAIS), Rob Brown (Chief Investment Officer, United Capital Financial Advisers), Bruce Cameron (CEO, Berkshire Capital Securities), James Carney (CEO, ByAllAccounts), Jeff Dekko (CEO, Wealth Enhancement Group), Stuart DePina (President, Envestnet Tamarac), Joe Duran (CEO, United Capital), Shannon Eusey (President, Beacon Point Advisors), Ray Ferrara (CEO, ProVise Management Group), Jim Feuille (Partner, Crosslink Capital), Tom Florence (CEO, 361 Capital), Mike Furlong (CEO, Sliced Investing), Stewart Gross (Managing Director, Lightyear Capital), Scott Hanson (Co-CEO, Hanson McClain), Margaret Hartigan (CEO, Marstone), Pete Hess (CEO, Advent Software), Spencer Hoffman (Managing Director, Lovell Minnick Partners), David Jegen (Partner, F Prime Capital), Chris Jones (Chief Investment Officer, Financial Engines), Kunal Kapoor (President, Global Client Solutions Group, Morningstar), Zachary Karabell (Head of Global Strategy, Envestnet), Aaron Klein (CEO, Riskalyze), Jan Kolbusz (Founder, Decimal Software), Brad Matthews (CEO, Trizic), Ed Moore (President, Edelman Financial Services), Hans Morris (Managing Partner, Nyca Partners), Patricia Nakache (General Partner, Trinity Ventures), Michael Pinsker (CEO, Docupace Technologies), Eduardo Repetto (Co-CEO, Dimensional Fund Advisors), John Rooney (Managing Principal, Commonwealth Financial Network), Babu Sivadasan (President, Envestnet Retirement Solutions), Bill Sowell (CEO, Sowell Management Services), Hal Strong (Operating Executive, Genstar Capital), Jason Thomas (CEO, Savos Investments), Allen Thorpe (Managing Director, Hellman & Friedman), Jim Tracy (Vice Chairman, Morgan Stanley Wealth Management), Hardeep Walia (CEO, Motif Investing), Amy Webber (President, Cambridge Investment Research), Spencer Williams (CEO, Retirement Clearinghouse), & Bob Worthington (President, Hatteras Funds). Tiburon CEO Summit XXIX also featured the firm's traditional client-centric panel discussions and two networking-based social events.
Blaine Aikin is CEO of fi360. fi360 is a national and international leader in the field of investment fiduciary responsibility, providing training, web-based analytical tools, and resources for those who manage money on behalf of others. Mr. Aikin is the author of numerous articles on the subjects of fiduciary responsibility and investment management, and the author of the monthly Fiduciary Corner column in InvestmentNews magazine. Upon graduation from Carnegie-Mellon University, Mr. Aikin was selected for the prestigious Presidential Management Intern Program which involved management assignments in the US Department of Treasury and the US Senate. He subsequently served as budget officer for Prince William County, Virginia. Mr. Aikin then entered the private sector in professional financial management. He earned the Certified Financial Planner (CFP) and Chartered Financial Analyst (CFA) designations and served as a principal and chief investment officer of Allegiance Financial Advisors. After providing contract training and consulting services for PNC Financial Services Group, Mr. Aikin became a senior vice president and director of product development and management for PNC Advisors. For several years, he also served as an adjunct faculty member of the College for Financial Planning; providing instruction in investment planning and other subjects leading to the Certified Financial Planner designation.
Mr. Aikin's recent comments have included:
Anil Arora is President & CEO of Yodlee. Under his leadership, Yodlee has been a disruptive catalyst for change in the financial industry by pioneering a unique cloud-based platform. Today, Mr. Arora is helping Yodlee lead the charge for the safe use of global financial data to accelerate innovation and transform the delivery and use of digital financial services. Mr. Arora has extensive experience building some of the world’s most recognized brands at companies like General Mills, Kraft, and Gateway, as well as innovating new market strategies and increasing the lifetime customer value for companies in a variety of industries.
Mr. Arora's recent comments have included:
Noreen Beaman is CEO of Brinker Capital. Ms. Beaman is responsible for developing and executing the firm’s detailed operating plan and for the oversight of the company’s short and long term strategies. Previously, Ms. Beaman served as the firm’s chief operating officer responsible for policy and oversight of operations, administration, performance, reconciliation, technology, and human resources. Ms. Beaman has more than 25 years of investment experience working with financial advisors and institutional and high net worth investors in strategic planning and investment management. Additionally, she is a member of the firm’s investment, management, and finance committees. As one of Brinker Capital’s original partners, Ms. Beaman previously held a variety of regional and national sales positions at the firm, including new business development and client service in New York and New Jersey. Ms. Beaman is a frequent speaker at industry conferences and has been quoted extensively in top financial and advisor media. Prior to joining Brinker Capital, Ms. Beaman was treasurer at Mutual Benefit Capital Companies, a subsidiary of Mutual Benefit Life Insurance Company. She also worked at Ernst and Young.
Ms. Beaman's recent comments have included:
Carol Benz is Managing Principal of Bingham Osborn & Scarborough. Ms. Benz joined the firm in 2001 and also serves as the firm’s Chief Operating Officer and is responsible for firm management, including finance and reporting, portfolio operations, human resources, compliance, technology, strategic planning, and office administration. Prior to joining the firm, Ms. Benz worked for ten years for Barclays Global Investors (currently known as BlackRock) where she managed account operations, domestic operations, international operations, and the data services group and for three years with Ernst & Young as a supervising senior where she worked with insurance, technology, and manufacturing clients. Ms. Benz is currently the vice chair of the Stanford Alumni Association and the treasurer of the San Francisco Ballet Auxiliary.
Ms. Benz's recent comments have included:
Adam Blitz is CEO of Evanston Capital Management. Mr. Blitz helped establish ECM, joining the firm at inception in 2002. He is a member of ECM's board of managers, investment committee, operating committee, & valuation committee. Mr. Blitz leads all investment research and portfolio management as well as executive firm management. He previously worked in the prime brokerage area at Goldman Sachs, where he was responsible for developing, selling, and managing funding and financing products to offer to hedge funds. He was also employed in the asset management division at Goldman Sachs as a member of the quantitative research group. Mr. Blitz previously served as head trader at AQR Capital Management, a multi-strategy quantitative investment manager. At AQR, he assisted in risk management and strategy research, providing extensive modeling and analysis of strategy and fund-level volatilities and correlations. Mr. Blitz is a member of the board of advisors of Northwestern University's School of Education and Social Policy.
Mr. Blitz's recent comments have included:
Matt Brown is CEO of CAIS. Mr. Brown is responsible for firm strategy, management and business development. He has over twenty-three years of experience in the financial services industry, having worked at firms including Shearson Lehman Brothers, Smith Barney and Brownstone Advisors.
Mr. Brown's recent comments have included:
Rob Brown is Chief Investment Officer of United Capital Financial Advisers. Mr. Brown provides the inspiration, leadership, and experience that enable the United Capital Investment Management department to ensure that advisers are fully supported as they transition to the United Capital investment platform and that they are fully informed on how to use the cutting edge strategies available on the platform to provide customized portfolios for their clients. Mr. Brown is a senior level investment professional with 30 years of experience in portfolio management for large, sophisticated foundations, endowments, pensions, and the ultra-high net worth. Prior to United Capital, he held senior level executive positions with Genworth Financial, SEI, Envestnet, and the CFA Institute where he directed the ongoing development of the educational curriculum for the CFA certification program and its examination. While at Genworth Financial, Mr. Brown served as the chief investment officer directing a $7.5 billion institutional portfolio of domestic and international securities. At SEI, he worked as the managing director of SEI’s research department that supported the wealth management needs of over $300 billion of pension, endowment, and foundation assets under advisement. At Envestnet, Mr. Brown served as the chairman - Investment Policy Committee, executive vice president, and senior managing director - Consulting Division for PMC International (later acquired by Envestnet) where he led the investment decision-making for a $3.3 billion portfolio. Mr. Brown also worked in the public sector where he held the position of chief investment officer for one of our nation’s larger state public pension plans, the $14 billion Arizona Public Safety Personnel Retirement System. Mr. Brown’s publications have appeared in the Journal of Derivatives and Hedge Funds, Journal of Investing, Journal of Investment Consulting, Pensions & Investments, FA Magazine, RIA Central, On Wall Street Magazine, Royal Alliance Associates Sourcebook, Bank Investment Consultant, Investment News Magazine, London Financial Times, Financial Planning, Financial Advisor, and Journal of Financial Planning.
Mr. Brown's recent comments have included:
Bruce Cameron is CEO of Berkshire Capital Securities. Mr. Cameron joined Mr. McEver in establishing Berkshire Capital in 1983 as the first independent investment bank covering the investment management and securities industries. As president and CEO, Mr. Cameron is responsible for the overall development and direction of the firm. Mr. Cameron leads the firm’s new business efforts and is actively involved in advising the firm’s major clients. He is also a frequent speaker at industry conferences and events. From 2005 to 2010 Mr. Cameron was a co-founder and the chairman of the board of directors of Highbury Financial, a publicly traded investment management holding company. Prior to the formation of Berkshire Capital, Mr. Cameron was associate director of Paine Webber Group’s strategic planning group. He began his career at Prudential Insurance Company, working first in the comptroller’s department and then in the planning & coordination group.
Mr. Cameron's recent comments have included:
James Carney is CEO & co-founder of ByAllAccounts. He and his teams have had a proven track record of effectively building, marketing and selling highly scalable, complex solutions on time and within budget. ByAllAccounts became a subsidiary of Morningstar in 2014. Prior to co-founding ByAllAccounts, Mr. Carney was a co-founder and CEO of Bidder's Edge, the largest online auction portal servicing greater than 500,000 users on a monthly basis with information available on over eight million items on a near real time basis. Company revenue grew in excess of 100% each year with expanding profit margins. Prior to Bidder's Edge, Mr. Carney was a co-founder and CEO of Workgroup Technology, which developed product information management systems for the engineering and manufacturing environments. The company had a successful IPO on the NASDAQ exchange. Previously, Mr. Carney was CEO and co-founder of WSI (a UNIX based system integrator that developed solutions for the engineering market), which was acquired by BOM Nesbitt Burns; and he ran the Northeast Operations for Computervision, the worldwide leading provider of CAD/CAM systems..
Mr. Carney's recent comments have included:
Jeff Dekko is CEO of Wealth Enhancement Group. Mr. Dekko has more than twenty years of business experience in marketing, technology, operations and finance. Mr. Dekko began his career with General Mills, where he served in a variety of marketing management positions including Wheaties, Cheerios, International and New Product Development. In 1994 he joined Recovery Engineering, where he was instrumental in the developing the firm from a small public company to a national brand (PUR). During his time with the firm, he was involved in several secondary offerings and the sale of the company to Procter & Gamble. After the sale, he supported a small technology company in completing an equity financing by two PE firms and two strategic firms: HP and Novell. He bought Wealth Enhancement Group in 2003 with two outside partners. The company focused on organic growth and quadrupled assets in five years. Since 2007, he has led the company in two sale processes: 2007 to Norwest Equity Partners and 2015 to Lightyear Capital while simultaneously increasing employee ownership participants by 800%. While the firm primarily grows from a marketing driven model, Wealth Enhancement Group is actively pursuing acquisitions for geographic reach, and has completed several in recent years. Mr. Dekko is active on a number of United States Ski Association (USSA) boards and various committees.
Mr. Dekko's recent comments have included:
Stuart DePina is President of Envestnet Tamarac. Mr. DePina manages the long-term growth strategy of Tamarac. His balanced leadership is rooted in deep financial experience and the belief that a solid organization is built on customer focus, commitment and thoughtful business practices. Mr. DePina's professional history is distinguished by leadership roles in guiding firms through various stages of development including initial public offerings and acquisitions. Most recently, Mr. DePina served as CEO for Who's Calling, a web-based application that uniquely measured online and traditional direct marketing performance, where he succeeded in doubling the company's revenue base and drove profitability. He served as president and CEO of xSides Corporation, a developer of trusted computing and digital rights management technology. He was chief financial officer for Ticketmaster Corporation, and a partner in the big four firm of KPMG, where he provided consulting and assurance services to a number of clients in the firms' financial services practice.
Mr. DePina's recent comments have included:
Joe Duran is CEO and Founding Partner of United Capital, the nation’s first and largest financial life management company. A proven entrepreneur, investor, best-selling author and sought after industry speaker, Mr. Duran previously built Centurion Capital, creating a nationwide investment platform that was successfully sold to General Electric Financial (GE) and renamed GE Private Asset management, where he served as president. Since he started the firm in 2005, United Capital has been one of the fastest growing and most innovative companies in the industry. Bringing together top advisors, behavioral economics, and a suite of digital tools, United Capital has revolutionized how people interact with their financial life. United Capital currently manages over $15 billion in client assets and advises on $7 billion in plan assets. The firm has over seventy locations and 600 employees. United Capital has financial backing from Bessemer Venture Partners, Sageview Capital and Grail Partners. Mr. Duran is a renowned industry visionary with featured columns in both Investment News and Time magazine’s Money.com. He is a frequent contributor to CNBC, Fox Business, Bloomberg and PBS and appears regularly in both traditional and online media. Mr. Duran is a recipient of a prestigious Ernst & Young Entrepreneur of the Year award in 2015 and the Schwab Pacesetter Impact award. His most recent book, The Money Code: Improve Your Entire Financial Life Right Now, achieved best seller status on both the New York Times and USA Today lists.
Mr. Duran's recent comments have included:
Shannon Eusey is the President of Beacon Pointe Advisors and a member of Beacon Pointe’s Investment Committee. Ms. Eusey is a member of the CNBC Financial Advisor Council and is very passionate about financial education. She is a founding member of the catchy finance-based educational email subscription program known as The Sense and Beacon Pointe's Women's Advisory Institute. Prior to launching Beacon Pointe, Ms. Eusey served as senior managing director and portfolio manager at Roxbury Capital Management. She was in charge of the socially responsible investments for several years at Roxbury. Ms. Eusey serves on the board of the Young Presidents Organization (YPO) for the Orange County chapter, serves on the UCI Athletic Fund Board and is currently an adjunct professor for the UCI Merage School of Business. She also serves on the Children’s Hospital of Orange County Professional Advisory Committee and the Investment Committee of Sisters of St. Joseph in Orange.
Ms. Eusey's recent comments have included:
Ray Ferrara is CEO of ProVise Management Group. Mr. Ferrara brings four decades of experience to ProVise. He has served on the board of directors for CFP Board of Standards (chair 2014), the Financial Planning Association (FPA), Institute of Certified Financial Planners (ICFP) and National Advisor's Trust Company (NATC). He is active in the community and serves on the board of directors of Eckerd Youth Alternatives, Morton Plant Mease Healthcare, BayCare Health System, and the University of Maryland College Park Foundation, and has served on the board of directors for the West Central Florida Council Boy Scouts of America and the Clearwater Regional Chamber of Commerce. Mr. Ferrara has been a featured speaker for many organizations, as well as at business conferences throughout the United States. For over ten years, he hosted radio's Talking Money and authored several articles, videos, and CDs on various financial topics including living trusts, IRAs, college financial aid, asset protection, estate planning, and Section 529 plans. Ray has been quoted in numerous publications, including The Wall Street Journal; The New York Times; USA TODAY; Bloomberg News; Investor Business Daily; Tampa Bay Times; Tampa Tribune; and Business Week. Mr. Ferrara was featured as one of America's best financial planners in the book Secrets of the Wealth Makers and is a recipient of the Lifetime Achievement Award given by the Tampa Bay Chapter of the FPA.
Mr. Ferrara's recent comments have included:
Jim Feuille is a Partner at Crosslink Capital. Mr. Feuille is a member of Crosslink’s venture team, focusing on investments in digital media & internet services, financial technology, and software & business services. Mr. Feuille joined Crosslink in 2002, bringing 20 years of technology investment banking and management experience to the firm. Mr. Feuille’s prior positions included global head of technology investment banking at UBS, where he built a powerful global technology investment banking practice from scratch, chief operating officer at Volpe Brown Whelan & Company, where he ran all aspects of the firm’s investment banking and brokerage operations and led the firm to record growth in revenue and market share prior to its acquisition by Prudential, and head of technology investment banking at Robertson Stephens, where he built the technology investment banking team into a leadership position in the industry. Mr. Feuille's board seats have included Chime, DevonWay, Global Analytics, NWP Services, Pandora, Personal Capital, & Reltio.
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Tom Florence is CEO & President of 361 Capital, responsible for the general management of the firm. He has over 29 years of experience in the financial services industry having been exposed to all facets including investment management, sales and marketing, operations, and general business management. Mr. Florence began his career at Merrill Lynch in equity capital markets before moving on to investment management in the wealth management group. He then spent many years at Fidelity Investments where he was an officer in the Institutional Services Company. After Fidelity, Mr. Florence was a managing director at Morningstar, and on the six person executive management committee which had responsibility for general oversight of the company. While there, he founded and was president of Morningstar Investments Services, a registered investment advisor managing mutual fund portfolios for advisors and their clients. After Morningstar, Mr. Florence was an owner and a managing partner of Dividend Capital Group, a real estate investment management company. In addition, he was co-founder and president of Dividend Capital Investments, a registered investment advisor managing portfolios of real estate securities. Mr. Florence has been on the board of trustees at two mutual fund companies including the Janus Mutual Funds. He has been a frequent industry speaker and a guest lecturer at the University of Denver’s Daniels College of Business.
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Mike Furlong is CEO of Sliced Investing.
Mr. Furlong's recent comments have included:
Stewart Gross is a Managing Director at Lightyear Capital and a member of the investment committee. Prior to joining Lightyear in 2005, Mr. Gross spent seventeen years at Warburg Pincus, where he was a partner and member of the operating committee. Mr. Gross began his career as an investment banking analyst in mergers and acquisitions at Morgan Stanley. Mr. Gross is a board member of Lightyear portfolio companies Alegeus Technologies, RidgeWorth Investments and Wealth Enhancement Group and a former board member of Cetera. Mr. Gross is a trustee of Boys and Girls Harbor and a director of the New York City Partnership Foundation.
Mr. Gross' recent comments have included:
Scott Hanson is Co-CEO of Hanson McClain. Mr. Hanson is also a senior partner and founding principal of Hanson McClain. Mr. Hanson has been named to Barron’s list of the Top 100 Independent Wealth Advisors in America for 2011, 2012, 2013 and 2014, and has been listed as one of the 25 most influential people in the financial services industry nationwide. Mr. Hanson has been a guest on both Fox News and Fox Business, has appeared on Closing Bell, and has provided commentary for numerous print and digital outlets, including CNBC.com, The Wall Street Journal,The New York Times, and the Los Angeles Times. The author of Money Matters: Essential Tips and Tools for Building Financial Peace of Mind, and the co-author of Investment Advisor Marketing, for twenty years Mr. Hanson has co-hosted Money Matters, a weekly call-in talk radio program that airs on KFBK 1530, Sacramento’s largest AM station. Mr. Hanson is the 2011 winner of the Salvation Army’s Spirit of Caring Award.
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Margaret Hartigan is CEO of Marstone. Inspired to create a financial services site that not only addressed the primary needs of investors, but enabled them to recast their relationship with money and investments in a manner they never dreamed possible, Ms. Hartigan conceived Marstone. Prior to Marstone, Ms. Hartigan was a top quintile financial advisor for ten years in the Global Wealth Management Group at Merrill Lynch. Her practice was split between New York and San Francisco and her clients were comprised of high net worth individuals and Fortune 1000 companies. She is a former trustee of Sonoma Academy in Santa Rosa, California, and an active leader in the alumni and major development efforts at Brown University and Phillips Exeter Academy..
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Pete Hess is CEO of Advent Software. Mr. Hess is responsible for vision, strategy, & execution across the firm’s global business. Prior to his appointment to CEO, Mr. Hess served as the company's president for three and a half years, with responsibility for strategy, sales, marketing, services, & product teams worldwide. Mr. Hess has been with Advent Software since 1994 and has held a variety of positions in the company, including executive vice president and general manager of the company's largest businesses, and, previously, vice president of sales and vice president of marketing.
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Spencer Hoffman is Managing Director of Lovell Minnick Partners. Mr. Hoffman is a member of Lovell Minnick Partners' investment committee, joining the firm in 2007. Prior to joining LMP, Mr. Hoffman was a principal at Safeguard Scientifics, a publicly-traded growth capital investor, where he completed over 20 private equity and public transactions. Prior to pursuing his MBA, Spencer was the manager of corporate affairs at MicroStrategy, and also was in the global investment banking group at Merrill Lynch & Company. He is a member of the board of directors of HD Vest Financial Services, Worldwide Facilities, and is a member of the executive committee and former co-president of the Wharton Private Equity & Venture Capital Association. Prior board positions include ALPS Holdings and Leerink Swann Holdings.
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David Jegen is a Partner with F Prime Capital, the venture capital firm affiliated with the owners of Fidelity Investments, formerly part of Devonshire Investors. He has led investments in Cloudant (acquired by IBM), Kensho, FutureAdvisor (acquired by BlackRock), peerTransfer, Tradier and Eris Exchange. Mr. Jegen was a co-founder of Sensoria, and vice president of Product at Into Networks, a Fidelity Ventures and Venrock-backed company acquired by Softricity, now part of Microsoft. Most recently, Mr. Jegen was a senior executive at Cisco Systems. He held early positions with JP Morgan & Company and The Boston Consulting Group. In 2014 Mr. Jegen co-founded FinTech Sandbox, a nonprofit that serves FinTech entrepreneurs by aggregating data and infrastructure for free during a startup’s development phase, backed by leading institutions like ThomsonReuters, FactSet, Yodlee, Amazon, S&PCapitalIQ and Fidelity Investments.
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Chris Jones is Chief Investment Officer of Financial Engines.
Mr. Jones' recent comments have included:
Kunal Kapoor is President of the Global Client Solutions Group at Morningstar.
Mr. Kapoor's recent comments have included:
Zachary Karabell is Head of Global Strategy at Envestnet. Mr. Karabell helps shape and communicate Envestnet’s investment perspective and deep research capabilities to clients and the media alike, acts as portfolio manager of the Ascent funds, and advises the PMC Investment Committee in connection with PMC’s portfolio solutions. He also consults with the senior management of Envestnet on corporate strategy, branding, and market position. Mr. Karabell is President of River Twice Research, a consulting company. Previously, he was executive vice president, chief economist, and head of marketing at Fred Alger Management, a New York-based investment firm. He was also president of Fred Alger & Company, a broker-dealer; portfolio manager of the China-U.S. Growth Fund (CHUSX); and executive vice president of Alger’s Spectra Funds, a no-load family of mutual funds that managed the Spectra Green Fund. At Alger, he oversaw the creation, launch, and marketing of several funds, led corporate strategy for strategic acquisitions, and represented the firm at public forums and in the media. Mr. Karabell has taught at several leading universities, including Harvard and Dartmouth, and has written widely on economics, investing, history, and international relations. He is the author of twelve books and sits on the board of the New America Foundation and the Carnegie Council on Ethics. In 2003, the World Economic Forum designated him a Global Leader for Tomorrow. He is a senior advisor for BSR, a membership organization that works with global corporations on issues of sustainability. As a commentator, Mr. Karabell is a contributing editor and regular columnist for Politico, and he previously penned the weekly column The Edgy Optimist for Slate, Reuters, & The Atlantic. He is a commentator on CNBC and MSNBC, contributing editor for The Daily Beast, and writes for such publications as The Washington Post, Time Magazine, The Wall Street Journal, The Los Angeles Times, The New York Times, Foreign Policy, The Financial Times, Foreign Affairs, and Barron's.
Mr. Karabell's recent comments have included:
Aaron’s career has largely been at the intersection of finance and technology. As Co-Founder and CEO at Riskalyze, he led the company to twice being named one of the world’s top 10 most innovative companies in finance by Fast Company Magazine. Today, 90 Riskalyzers serve thousands of advisors who manage over $90 billion on the platform. In his spare time, Mr. Klein serves as a Sierra College Trustee, and co-founded a school project for orphans and vulnerable kids in Ethiopia. He has been honored by Investment News as one of the industry’s top 40 Under 40 executives.
Mr. Klein's recent comments have included:
Jan Kolbusz is Founder of Decimal Software, the world's first patented, cloud-based financial services platform to provide a seamless end-to-end solution for offering customer driven advice and fulfilment to a mass market across all personal financial product types. After beginning his career leading technology developments in health, Mr. Kolbusz moved to financial services where he pioneered industry leading portfolio administration service, Asgard.
Mr. Kolbusz' recent comments have included:
Brad Matthews is CEO of Trizic. Mr. Matthews has extensive investment management expertise and a penchant for technology innovation. Prior to founding Trizic, Mr. Matthews was a private banker with JP Morgan where his clients included hedge funds, sports teams, and high net worth individuals—including seven billionaires. He has also worked for Citi Private Bank, Barclays, and Bear Stearns. He has ten years of experience in investing and risk management, financial planning, and structured finance. Mr. Matthews holds FINRA Series 7 & 66 licenses.
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Mr. Moore is a Certified Financial Planner practitioner and has been helping clients achieve their goals for 30 years. He joined Ric Edelman 25 years ago as the 6th employee of Edelman Financial Services. Working side-by-side with Mr. Edelman ever since, Mr. Moore has been a key contributor to Edelman’s amazing growth through the years, and he is responsible for all financial advisory, client service and operations functions for the firm, which now has 120 planners in 41 offices and 500 employees. He has served as EFS President since 1996.
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Hans Morris is Managing Partner of Nyca Partners. Mr. Morris is a director of portfolio companies Lending Club, Payoneer and Cardworks. Previously, he was managing director at General Atlantic, a global growth equity firm, where he continues to serve as a director for KCG. From 2007-2009, Mr. Morris was president of Visa while it completed its reorganization and 2008 IPO, which remains one of the largest in history. He was at Citigroup and its predecessors for 27 years in various roles, including CFO of the institutional businesses, COO of the investment bank, and head of the financial services group.
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Patricia Nakache is General Partner of Trinity Ventures. Since joining Trinity Ventures in 1999, Ms. Nakache has focused on funding companies launching innovative Internet services around fundamental business or consumer needs. Her passion is partnering with entrepreneurs to nail their value proposition and develop a scalable business model. Ms. Nakache has active investments in BeachMint, Care.Com, Kixeye, PayScale, Ruby Ribbon, and ThredUp, and was previously involved with Affinity Labs (acquired by Monster Worldwide), LoopNet (LOOP), MyNewPlace (acquired by RealPage) and Sabrix (acquired by Thomson Reuters, TRI). Prior to Trinity Ventures, Ms. Nakache worked at McKinsey & Company, helping enterprises in technology, financial services and retailing identify and address their strategic and operational issues. Previously, she also contributed to FORTUNE magazine and other publications on management best practices in technology companies. Ms. Nakache is a member of the Stanford Business School Trust Investment Committee.
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Michael Pinsker is CEO of Docupace Technologies. Mr. Pinsker grew up in Kiev, the capital of Ukraine, where he studied math from a very young age. In 1991, when he emigrated to the United States, he turned that talent in mathematics towards focusing on technology and software development. Through projects with clients as diverse as Datamax Technologies, Unisys, and Paramount Pictures, Mr. Pinsker tested different workflow solutions and imaging strategies. This background and expertise led him to found Docupace Technologies in 2002, focusing on bringing those workflow solutions to the financial services arena in a unique software as a service model. By launching this innovative approach to workflow issues, Mr. Pinsker and Docupace hoped to provide the highest level of support and service at a reasonable price to truly make straight-through processing a reality for offices of any size.
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Eduardo Repetto is Co-CEO of Dimensional Fund Advisors. Mr. Repetto also serves as Co-Chief Investment Officer. He provides oversight across the investment, client service, marketing, and operational functions of the firm. Mr. Repetto is a director of both Dimensional Fund Advisors and the Dimensional US Mutual Funds and a member of the Investment Committee and Investment Policy Committee. He joined the firm in 2000.
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John Rooney is Managing Principal of Commonwealth Financial Network. Mr. Rooney came to Commonwealth in 1988 after spending five years as a vice president at Moseley Securities in Boston. Arriving to work in the product department, Mr. Rooney handled mutual funds, many partnerships, commodities, variable annuities, qualified plans, and individual issues. Over time, he has helped engineer the growth of not only the product department but also Commonwealth as a whole and is relied upon by all parties for his advice and perspective on the direction of the firm. Mr. Rooney opened and now manages Commonwealth’s west coast office in San Diego. He has been a guest on numerous television shows and nationally syndicated radio programs. He also holds FINRA Series 7, 24, 63, and 65 securities registrations.
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Babu Sivadasan is President of Envestnet Retirement Solutions. Mr. Sivadasan has a distinguished record working with entrepreneurs, turning their ideas into innovative companies, and delivering solutions for Fortune 500 companies. He has extensive experience in global software delivery models and coordination of engineering activities across geographically distributed groups. He also is experienced in leading architecture, design, and development for large projects. For the past fifteen years, his focus has been on the internet and e-commerce application, and he has acted as a lead architect and programmer for Hewlett-Packard, where he worked on building a Java Virtual machine and an embedded application delivery platform. He was also the founding technology officer for several start-up companies, including Stamps.Com. Mr. Sivadasan has also worked as a technology consultant for application infrastructure companies like Quest Software and financial services companies like Discover Card.
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Bill Sowell is CEO & President of Sowell Management Services. Mr. Sowell began his career in the financial services industry in 1990 where he quickly became a top producer within the industry. In 1995, Mr. Sowell began a fee-only practice now known as Sowell Management Services, which services some of the top independent broker/dealers in the United States. As CEO and a member of the firm’s Investment Committee, Mr. Sowell’s primary role is to oversee sustainable and continued growth for the firm, regulatory compliance and public relations. He has series 7, 24, 51, 63 and 66 securities licenses as well as his life, health & disability insurance license. Mr. Sowell has strong roots in the community and has served as past president of the Rotary Club of Little Rock and is a Paul Harris Fellow. He served on the board of directors and also as past chair of Leadership Greater Little Rock and supported the Youth Leadership Institute and numerous other nonprofit organizations.
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Hal Strong is Operating Executive of Genstar Capital. Mr. Strong is responsible for expanding Genstar’s financial services practice, in particular in the areas of asset management, wealth management and financial technology. Mr. Strong serves as a director of Altegris, Asset International, and AssetMark. Prior to joining Genstar, Mr. Strong was most recently vice chairman of Russell Investments, where he helped build Russell into a global investment company with $250 billion in assets under management serving individual, institutional and advisor clients in more than 40 countries. During Mr. Strong’s eighteen-year career at Russell, he also served as Russell’s chief operating officer, chief financial officer, head of alternative investments and head of investment banking, having founded the latter two businesses at Russell. Mr. Strong has nearly 30 years of experience in the asset management and investment banking industries, beginning his career in the investment banking division of Salomon Brothers in New York.
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Jason Thomas is CEO & Chief Investment Officer of Savos Investments, a division of AssetMark. He is responsible for the leadership and oversight of the Savos investment platform and the strategic direction of the division. Mr. Thomas joined Savos Investments in December 2014. Previously, he was the CEO of Portfolio Design Labs, a company he founded to provide next generation risk measurement and management to investment advisors and institutional investors. Prior to that, he was the chief investment officer of Aspiriant, the leading independent wealth management firm in the U.S. with $8 billion in assets under management and advisement. Mr. Thomas began his career at the Federal Reserve Bank of San Francisco.
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Allen Thorpe is a Managing Director of Hellman & Friedman. He leads the firm’s New York office and focuses on the healthcare and financial services sectors. Mr. Thorpe is a Director of Pharmaceutical Product Development, and Emdeon, and is a member of the Advisory Board of Grosvenor Capital Management Holdings. He was formerly a director of LPL Financial (LPLA), Artisan Partners Asset Management (APAM), Mitchell International, Gartmore Investment Management Limited, Mondrian Investment Partners Limited, Vertafore, Activant Solutions, and Sheridan Holdings. Prior to H&F, Mr. Thorpe was a vice president with Pacific Equity Partners in Australia and was a manager at Bain & Company. Mr. Thorpe also currently serves on the Board of Trustees for the NYU Langone Medical Center and the Advisory Council of the Stanford Center on Longevity.
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Jim Tracy is Vice Chairman and a Managing Director of Morgan Stanley Wealth Management. Prior to his current role, Mr. Tracy was the director of Consulting Group Wealth Advisory Solutions. This organization included the Consulting Group, Graystone Consulting, Financial Planning Solutions, the Wealth Planning Centers, The Family Wealth Director Program, Philanthropic Programs and Impact Investing Initiatives. Consulting Group is one of the nation’s leading providers of investment consulting and managed money services. Under Mr. Tracy’s leadership the Consulting Group has grown to over $823 billion in advisory solutions and has achieved #1 market share leadership every year. Mr. Tracy was also formerly the director of national sales and business development for the Global Wealth Management Division of Morgan Stanley Wealth Management, responsible for national sales, business development and professional development. Mr. Tracy has served the firm in many leadership roles and has been with Morgan Stanley Wealth Management since 1988. In addition, Mr. Tracy was formerly the chairman of MMI (Managed Money Institute). Mr. Tracy has over 30 years of industry experience. He has held multiple roles that have progressed him through his career. He served as a financial advisor, branch manager and regional director, all helping him gain perspective on serving clients and developing an understanding of the importance of the advisor/client relationship. Outside his efforts at Morgan Stanley Smith Barney, Mr. Tracy has contributed numerous articles, presentations, workshops and has been a featured speaker on trends and innovations in the financial services industry. He currently serves on the board of Marietta College. In addition, Mr. Tracy is a solid supporter of the Special Olympics Organization and has been a contributor on multiple levels for the past twenty years.
Mr. Tracy's recent comments have included:
Hardeep Walia is CEO of Motif Investing. Mr. Walia co-founded Motif Investing to create an intuitive way to invest conceptually. He spent more than six years at Microsoft, where he was general manager of the company's enterprise services business, and prior to that was a director of corporate development and strategy, helping to oversee Microsoft's investments and acquisitions. He started his career at The Boston Consulting Group. He holds Series 7, 63 and 24 licenses in the securities industry, is an active member of FINRA's Small-Firm Advisory Board, serves on FINRA's Technology Advisory Committee and contributes frequently to Bloomberg TV, CNBC, Fox Business and Forbes.
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Amy Webber is President of Cambridge Investment Research. With over 25 years of experience, Ms. Webber’s commitment to independent rep-advisors is demonstrated in her passion for delivering high level, personal service and leading management solutions. Her personal interest lies with continually refining the independent broker-dealer model to best support the next generation of independent advisors – including creating innovative programs such as the Cambridge Source outsourcing program and the Cambridge Next Step internship program. Ms. Webber serves as vice chair for the 2015 Financial Services Institute Board (FSI), an advocacy organization for independent broker-dealers and their affiliated independent financial advisors. In 2012 and 2014, Ms. Webber was recognized as a member of the IA 25 by Investment Advisor magazine and in 2011, 2010, and 2009 as one of the Top 50 in wealth management by Wealth Manager.
Ms. Webber's recent comments have included:
Spencer Williams is President, CEO and Founder of Retirement Clearinghouse. Prior to joining Retirement Clearinghouse, Mr. Williams served in a number of senior executive roles at MassMutual Financial Group, and as a retirement services executive at Federated Investors. Mr. Williams is registered with the NASD as a General Securities Principal and General Securities Representative.
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Bob Worthington is President of Hatteras Funds. Mr. Worthington oversees the investment and portfolio management teams of Hatteras Funds. Additionally, he serves on the investment committees for various investment funds including the Hatteras Alternative Mutual Funds. Prior to joining Hatteras, Mr. Worthington was a managing director at JPMorgan Asset Management. His previous investment management experience includes president of Undiscovered Managers, and principal and senior vice president of the Burridge Group. For the first ten years of his career, Mr. Worthington held various corporate finance positions with Mellon Bank, Nikko Securities, Bankers Trust, and Westpac Banking.
Mr. Worthington's recent comments have included: