October 20, 2017

Tiburon Research Call:
Managed Account Programs: October 26, 2017

Tiburon is pleased to announce that the next Tiburon Research Call will be on Managed Account Programs. It will be held Thursday, October 26, 2017 at 10:00am PT. All employees from Tiburon CEO Summit sponsors and Tiburon members, as well as media representatives who cover Tiburon Research, are invited to join this call with Tiburon Managing Partner Chip Roame. This is one of over 40 Tiburon Research Calls set for this year. To see the full Tiburon Research Calls calendar, please click here.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and would like to listen to this call, please email Lupita Uribe to RSVP. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Prior Tiburon Research Call:
Index Investing & Exchange Traded Funds (ETFs): October 19, 2017

Tiburon is pleased to provide Tiburon CEO Summit sponsor and Tiburon member employees that missed this week's Tiburon Research Call on Index Investing & Exchange Traded Funds (ETFs) with access to the recording on the Tiburon web site by clicking the link below and loging in with one's username & password.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access this Tiburon Research Call, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Tiburon CEO Summit XXXIII: October 9-11, 2017, Featured Prior Tiburon Award Recipient & Morningstar Executive Chairman Joe Mansueto

Tiburon is pleased to share that Tiburon CEO Summit XXXIII, which was held at the Ritz Carlton in San Francisco, CA on October 9-11, 2017, included prior Tiburon Award Recipient Joe Mansueto (Executive Chairman, Morningstar) and Kunal Kapoor (CEO, Morninstar) discussing their management transition in a Tiburon Fireside Chat.

Joe Mansueto founded Morningstar in 1984. Mr. Mansueto received the 2007 Skip Viragh Award, sponsored by Rydex Investments & Financial Advisor magazine, which recognizes new & innovative services that positively impact the financial advisor community. Mr. Mansueto also received the 2007 Visionary Award and was one of ten winners of the 2007 Chicago Innovation Award, sponsored by the Chicago Sun-Times and Kuczmarski & Associates. In 2007, Smart Money magazine recognized Mr. Mansueto in the Smart Money Power 30, its annual list of the top 30 most powerful forces in business & finance. He received the Distinguished Entrepreneurial Alumnus Award from the University of Chicago Graduate School of Business in 2000. He received the KPMG Peat Marwick High Tech Entrepreneur of the Year Award in 1993 and won the Rosenthal Award for Excellence in Investment Research from the University of Chicago in 1992. Before founding Morningstar, Mr. Mansueto was a securities analyst at Harris Associates.

Mr. Mansueto's recent comments have included:

  • "I started Morningstar because I love investing and wanted to build something around my passion. I did not know how to build a company; I have learned how to grow a company in the last thirty years and learned those professional management skills along the way. My vision was to build a big, enduring company. I was well aware of what happens to most entrepreneurs."
  • "The real enjoyment is the incremental. I get tremendous pleasure from watching our methodology improve."
  • "We put investors interests above our own in everything we do."
  • "Good advice is effective in helping someone reach their goal, making sure it is appropriated in terms of risk level and appetite."
  • "Good advice can be delivered online. The really exciting thing is that millions more people will be served."
  • "We put a lot of thought into our management transition (from me to Kunal), and we had the luxury of time. We had weekly meetings on how to make this work, and announced it on Labor Day and answered questions at each location. I don’t think we’ve missed a beat and it has worked out very well."

Tiburon's CEO Summits provide a unique opportunity for a select cross-industry group of senior executives to discuss a broad swath of issues regarding the future of the banking, insurance, brokerage, & investment management businesses. Tiburon's CEO Summits likely provide one of the only true forums where financial services industry CEOs from across traditional industry silos gather to discuss business opportunities. The list of business relationships resulting from prior Tiburon CEO Summits is impressive.

If you are a CEO, other C-level executive, executive vice president, or partner at a Tiburon CEO Summit sponsor or Tiburon member and would like to participate in Tiburon CEO Summit XXXIV, please email Tiburon's Managing Partner Chip Roame. If you are a CEO, other C-level executive, executive vice president, or partner at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and interested in becoming a Tiburon client to attend Tiburon CEO Summit XXXIV, please email Sarah Sage.


Tiburon Impact Adventure 2.0:
Mexico, January 27-28, 2018

Tiburon Managing Partner Chip Roame and Tiburon clients Scott Hanson (Co-CEO, Hanson McClain) & Craig Wietz (President, First Rate) will lead Tiburon Impact Adventure 2.0 to build houses in San Antonio Del Mar, Mexico on January 27-28, 2018. The group will partner with an organization that has been building homes for the homeless in Mexico for over twenty years, which believes that in two days, you can make a lifetime impact for a family. For more information, please email Craig Wietz (President, First Rate).

Tiburon Impact Adventure 1.0 was led by Tiburon Managing Partner Chip Roame and Tiburon clients Ben Cukier (Managing Partner, Centana Growth Partners), Scott Hanson (Co-CEO, Hanson McClain), & Aaron Klein (CEO, Riskalyze) in Ethiopia on January 15-18, 2017. While on the Tiburon Impact Adventure, the group spent a couple of days on-site at an Ethiopian school, as well as in Addis Ababa. Tiburon Impact Adventure 1.0 raised over $100,000 for the construction of a fifth through eighth grade classroom building in the village of Adami Tulu, and the group hopes to complete fundraising & start construction in 2018. To learn about the results of Tiburon Impact Adventure 1.0, please email Aaron Klein (CEO, Riskalyze).

Tiburon Impact Adventures are intended to connect first world finance with developing world needs. If you are interested in the Tiburon Impact Adventures generally, would like to propose a future Tiburon Impact Adventure, and/or in wish to inquire about taking part in future Tiburon Impact Adventures, please email Scott Hanson (Co-CEO, Hanson McClain).


Skip & Chip's Excellent Adventure 7.0:
South Central Alaska, August 5-9, 2018

Tiburon Managing Partner Chip Roame and Tiburon client Skip Schweiss (President, TD Ameritrade Trust Company) will co-lead the annual Skip & Chip’s Excellent Adventure on August 5-9, 2018 to South Central Alaska. On the surrounding days, the group will kayak & mountain bike in Alyeska, the Lost Lake Trail, & Seward, Alaska. For more information, please email Skip Schweiss (President, TD Ameritrade Trust Company).

Skip & Chip's Execellent Adventure 6.0 was co-led by Tiburon Managing Partner Chip Roame and Tiburon client Skip Schweiss (President, TD Ameritrade Trust Company) on July 9-13, 2017 in Kauai. While on Skip & Chip's Excellent Adventure 6.0, the group hiked the Kalalau Trail in-and-out for a total of 22 miles & kayaked the seventeen miles along the Napali Coast. To view the Skip & Chip's Excellent Adventure 6.0 photo gallery, please click here. To read Skip Schweiss's article reviewing Skip & Chip's Excellent Adventure 6.0 at RIA Biz, please click here. To learn about the results of Skip & Chip's Excellent Adventure 6.0, please email Alex Potts (CEO, Loring Ward Group).

Skip & Chip's Excellent Adventure 7.0 will be the seventh in the series of adventures, in which participants have reached the tops of Mount Whitney & Mount Shasta, traversed the Grand Canyon, summited Half Dome in Yosemite, and completed both the Kalalau Trail in Kauai & the Four Pass Loop outside of Aspen, CO. The annual outing combines a challenging outdoor adventure with a fun weekend together. If you are interested in the Skip & Chip's Excellent Adventures generally, would like to propose a future Excellent Adventure, and/or would like to inquire about taking part in a future Excellent Adventure, please email Skip Schweiss (President, TD Ameritrade Trust Company).


Tiburon Written Research:

Index Investing:
Exchange Traded Funds (ETFs), Index Mutual Funds, & Indexed Separate Accounts

Tiburon is pleased to highlight its research on Index Investing. The purpose of this research is to provide readers with a comprehensive understanding of the index investing market, including exchange traded funds (ETFs), index mutual funds, & indexed separate accounts. The index investing market is growing rapidly, driven by many factors. BlackRock, The Vanguard Group, & State Street Global Advisors dominate the market. Other firms including Invesco PowerShares, WisdomTree, Guggenheim Investment Partners, & ProShares are developing alternative products. Still other firms including The Charles Schwab Corporation, PIMCO, & Fidelity Investments are challenging the leaders. This research summarizes the highlights of Tiburon's underlying research on exchange traded funds (ETFs), index mutual funds, & indexed separate accounts. This research fits within Tiburon's wealth management series, which includes a wide variety of trending topics.

This research starts by highlighting the index investing trend versus that of active investing, including companies by investment type; products by investment type; assets under management by investment type; net flows by investment type; revenues by investment type; & net profits by investment type.

This research then summarizes the key drivers behind the rapid growth in index investing, including difficulty in beating market returns; lower expense ratios; & better tax efficiency.

This research addresses the key historical phases of the index investing market, including indexed separate accounts emergence phase; index mutual funds emergence phase; exchange traded funds (ETFs) emergence phase; & exchange traded funds (ETFs) dominance phase.

This research defines the core product markets, including exchange traded funds (ETFs); index mutual funds; indexed separate accounts. And this research makes several future predictions for the index investing business, including substantial growth in index investing; substantial growth in factor investing & smart beta products; moderate growth in leveraged & inverse funds; reemergence of personalized indexing; increased focus on cost in actively managed products market; growth in actively managed concentrated managers; and active mergers & acquisitions market in indexing market.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon's Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Written Research, please email Sarah Sage.


Tiburon Written Research:

Envestnet:
A Leading Wealth Management Technology
& Investment Management Platform

Tiburon is pleased to highlight its research on Envestnet. Envestnet was founded by Jud Bergman, Jim Lumberg, & Brandon Thomas in 1999. The firm is based in Chicago, IL. Envestnet has fourteen offices, 2,665 employees, $578.2 million gross revenues, $579.4 million adjusted revenues, $99.4 million adjusted EBITDA, & $43.6 million adjusted net profits. The company is led by its CEO Jud Bergman, Vice Chairman Anil Arora, President Bill Crager, & Chief Operating Officer Josh Mayer. Envestnet is a public company trading on the New York Stock Exchange under the symbol ENV.

Envestnet's comprehensive Power Point deck includes a synopsis of its history, including its key phases: core acquisitions & key alliances phase; initial public offering phase; & business expansion phase. Its profile includes the key statistics of the firm, including its number of offices, employees, gross revenues, adjusted revenues, adjusted operating income margin, non-operating income, EBITDA, adjusted EBITDA, & adjusted net profit margin.

Its profile includes detailed outlines of its core businesses, including Envestnet Enterprise (advisor suite; Envestnet PMC; & licensing) and Envestnet Yodlee. And its profile concludes with the highlights of its organizational structure & ownership.

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Written Research, please email Sarah Sage.


Recent Tiburon Research Calls

Tiburon is pleased to provide all employees at Tiburon CEO Summit sponsors & Tiburon members with access to Tiburon Research Calls led weekly or bi-weekly by Tiburon Managing Partner Chip Roame. To listen to recent Tiburon Research Calls, click the link below for your topic of interest, and enter your Tiburon username & password:

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to listen to recent Tiburon Research Calls, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Research Calls, please email Sarah Sage.


Recently Posted Tiburon Written Research

Tiburon is pleased to provide all employees at Tiburon CEO Summit sponsors & Tiburon members with access to Tiburon's Written Research library of 1,900+ topics and profiles. To access Tiburon Written Research, click the link below for your topic of interest, and enter your Tiburon username & password:

Topics

Profiles

If you are an employee at a Tiburon CEO Summit sponsor or Tiburon member and need your username & password to access Tiburon Written Research, please email Lupita Uribe. If you are an employee at a firm that is not yet a Tiburon CEO Summit sponsor or Tiburon member and would like to become a Tiburon client to obtain access to Tiburon Written Research, please email Sarah Sage.


Tiburon Membership Program

At the suggestion of numerous Tiburon clients, Tiburon created a member service allowing unlimited access to all Tiburon Written Research for all of a firm's employees for an entire calendar year for only $25,000. Tiburon added the Tiburon Research Calls & Tiburon CEO Summits, and now refers to these as Tiburon membership. This service has helped dozens of Tiburon clients to consolidate their research needs & budgets. Tiburon Written Research allows Tiburon clients to utilize the Tiburon research library web page as their personal industry knowledge library across all of their employees. Tiburon's Written Research currently includes 1,900+ topics. Tiburon's research strategy is to ultimately write and continuously refine research offerings covering every substantial financial services industry market segment (and prominent firm) so that the research can then serve as a comprehensive library of financial services data, analysis, & opinions for Tiburon members. Tiburon attempts to publish research on at least ten additional topics each week. Many are simply updates but all lead the firm closer to its goal of comprehensive research. If you are interested in becoming a Tiburon member, please email Sarah Sage.


Tiburon Media Coverage

Tiburon was quoted recently in PR Newswire's article titled Loring Ward Hosts 23rd Annual National Education Conference. The article said Loring Ward held its annual National Education Conference September 17-19 in Colorado Springs, CO for almost 200 independent Advisors. The article summarizes speech by Tiburon managing partner, saying that he said there has never been a better time to be a financial advisor.

Tiburon executives have been quoted quite extensively throughout the industry and general media. A list and brief synopsis of those articles that the Tiburon staff has been able to locate (Tiburon accepts that there are probably hundreds of other quotes circulating) can be found at the link below. These short summaries are intended to help prospective Tiburon clients, conference planners, and media representatives understand Tiburon's views on a wide variety of issues throughout the financial services industry. If you are a media representative interested in covering Tiburon, please email Sarah Sage.