2015 Sales & Marketing Leadership Summit February 18-19, 2015 Harbor Beach Marriott Fort Lauderdale, Florida

Transcription

1 2015 Sales & Marketing Leadership Summit February 18-19, 2015 Harbor Beach Marriott Fort Lauderdale, Florida Wednesday, February 18, :30AM 1:00PM Registration and Executive Networking Luncheon 1:00PM 1:15PM Welcome and Opening Remarks Joe Schultz, Chairman of the Board of Governors, Money Management Institute Christopher Davis, President, Money Management Institute Summit Co-Chairs: Jeff Cusack, President and Executive Managing Director, Tradewinds Global Investors John Sweeney, Executive Vice President, Retirement and Investing Strategies, Fidelity Investments 1:15PM 2:15PM Trends in the Wealth and Asset Management Industry While global assets under management have reached a record high, net flows remain depressed and costs have continued to escalate faster than revenues. Drawing on insights from the 2014 McKinsey Asset Management Benchmarking Survey, Fabrice Morin and Kevin Cho leaders in McKinsey's North American Wealth Management, Asset Management and Retirement Practice will present their observations about key trends in the asset management industry and the choices asset managers have to make in today s shifting environment. They will also provide an overview of the changing dynamics of the U.S. retail distribution landscape and highlight important considerations related to financial advisor mindsets and behaviors, affluent consumer needs, Big Data and analytics in retail distribution, and alternative investments. Fabrice Morin, Partner, McKinsey & Company Kevin Cho, Associate Principal, McKinsey & Company 2:15PM 3:30PM Building Better Client Outcomes: Theory and Practice This two-part session focuses on the industry s accelerating trend toward goals-based wealth management (GBWM). First, Chuck Widger presents an overview of GBWM and the forces driving its adoption. He will explain why to achieve better outcomes for clients it is necessary to reframe traditional advisor-investor conversations and will document progress in that direction. Mr. Widger will

2 then describe and categorize some of the emerging approaches to GBWM being developed by various sponsor platforms and third-party providers as well as the multi-asset class strategies being offered by different managers. He will also discuss how behavioral finance theory is increasingly being embedded in goals-based investment management and the critical role that technology plays in integrating the overall process two topics explored in Personal Benchmark: Integrating Behavioral Finance and Investment Management, the recent book Mr. Widger authored with Dr. Daniel Crosby. Next, a panel of senior executives takes a closer look at the specifics of goals-based approaches being pursued by different firms. Each of the panelists will offer an assessment of the strengths of his or her firm s particular approach, lessons learned during the development process, and feedback from advisors and investors. Chuck Widger, Executive Chairman, Brinker Capital Martin Beaulieu, Managing Director, Global Head of Client and Sales Excellence, BlackRock Stephen Fordyce, Partner and Managing Director, Snowden Lane Partners Michael Liersch, Ph.D., Head of Behavioral Finance and Goals-Based Development, Merrill Lynch Wealth Management 3:30PM 4:00PM 4:00PM 4:30PM Refreshment and Networking Break Leveraging Data to Inform and Enhance the Sales Process Confronted with steadily increasing competition, asset managers continue to explore ways to leverage business intelligence in support of their sales efforts. Understanding advisor behavior and product trends are critical factors in determining how to deploy resources in a way that will maximize the chances of distribution success. This panel will discuss the types of data available to asset managers and how it is being put to practical use. Topics discussed will include:! Identifying opportunities and achieving market share parity! Optimizing the deployment of sales resources! Analyzing product and platform evolution trends! Effectively delivering business intelligence to the sales force Moderator: Rick Ledbury, Vice President, Research and Data Services, Money Management Institute Michael Murphy, Vice President, T. Rowe Price Steve Truong, Director of Sales, Albridge Analytics, a division of Albridge, a BNY Mellon company

3 4:30PM 5:45PM Breakout Sessions - Choose one of two The Future of Marketing: From Tactical Sales Support to Strategic Business Partner The role of marketing at asset management firms is in a transformative period, driven by both technological and environmental changes. The struggle by investment firms to differentiate themselves in the marketplace has never been more apparent or more challenging. Intense competitive forces, rising distribution costs, and changing market dynamics as advisors become increasingly sophisticated all call for a complete reassessment of the traditional approach to selling. Firms making a strategic assessment that leads to an elevation of marketing to its proper role in the distribution matrix are being rewarded with improved productivity and retention. Among the topics this panel led by Neil Bathon will cover are: an overview of existing organizational marketing structures, how the role of marketing is evolving and what is driving new marketing initiatives in the industry, the strategic imperative to shift from pure sales support to what, in effect, becomes a partnership with clients, how top-ranking marketing leaders are optimizing the influence and effectiveness of their marketing teams, and the effective leveraging of marketing tools at a manager s disposal web, social media, CRM, data analytics, brand collateral and value-added programs. Moderator: Neil Bathon, Managing Partner, FUSE Research Network Fred Bertino, President, MMB Kevin Hoffberg, Managing Director, Marketing for Private Client Service, Russell Investments Neil Siegel, Chief Marketing Officer, Neuberger Berman -OR- Is the HiPPO Dead? How Big Data Analytics Can Influence Advisors and Generate Sales There is a debate swirling around the internet, marketing departments and now boardrooms should decisions be made on the traditional basis of HiPPO or according to the new science of Big Data? The HiPPO/Big Data dichotomy was set up by Andrew McAfee, Principal Research Scientist at MIT, in an article entitled The Big Data Revolution that appeared in Harvard Business Review in October In that article, he coined the term HiPPO the highest-paid person s opinion arguing that decisions are too typically made by having a group meet to discuss an issue, and then allowing the HiPPO to make the decision based on intuition and gut feeling. Big Data, he contended, can provide far better answers. This two-part session explains the effects and benefits of using Big Data analytics rather than HiPPO and explores the direct impact it can have on the sales and marketing business models of asset managers.

4 Sheri Gilchrist kicks off the session by presenting an overview of Big Data analytics and the forces driving its adoption in order to influence HiPPO thinking. She will explain why to achieve better outcomes for clients it is necessary to reframe conventional expert opinions and will document the growing use of data-driven analytics to validate or dispel commonly held beliefs. Ms. Gilchrist will also outline some of the emerging approaches to Big Data analytics that are being developed by major asset management firms. A panel of experts will then delve into particulars of the data-driven sales and marketing programs being pursued by different asset managers. Topics include: how Big Data can disprove some conventional perceptions about financial advisors, why Big Data analytics can influence HiPPO decisions and improve the relationship between sales and marketing, and why CRM is at the center of Big Data discussions and where and why investments in predictive analytics fall short. Moderator: Sheri Gilchrist, Managing Director, Global Head of Database Marketing, BNY Mellon Cynthia Beckwith, Head of Strategy, Marketo Alan Lee, Director and Head of US Wealth Advisory Sales Strategy, BlackRock Thomas O Donnell, Vice President, ebusiness Digital Marketing, Virtus Investment Partners Bill Sheldon, EVP, Chief Solutions Officer, Angoss Software 6:00PM Reception Thursday, February 19, :00AM 8:00AM 8:00AM 8:15AM 8:15AM 9:15AM Networking Breakfast Co-Chair Review of Day One Advisor Market Update: Trends in the Advisory Solutions Industry Mr. Shea s presentation is built around a compendium of Barron's observations about key trends in the wealth advisory industry and the ramifications of those shifts for the U.S. asset management community. The primary focus will be on the attributes Barron s consistently notes among advisors with the highest rates of organic annual asset growth across all wealth management channels. Mr. Shea will also cover how the fastest-growing advisors are evolving their value propositions, reallocating the time and attention spent on various aspects of their practices, and reworking their approaches to the investment function. The presentation closes with a series of verbatim quotes from Barron's-ranked advisors on what they want from their relationships with asset managers and how those managers can best add value beyond the investment product sale.

5 Sterling Shea, Managing Director and Head of Advisory and Wealth Management Programs, Barron s 9:15AM 9:30AM Refreshment and Networking Break 9:30AM 10:30AM The Millionaire Wholesaler Survey: Keys to Success From the Most Successful Mr. Shore, founder of Wholesaler Masterminds a company devoted to the education, social exchange of ideas and best practices of wholesalers that serve the financial services community will share the results of his firm s recent study of experienced, highly successful wholesalers. Conducted during the summer of 2014, the survey focused on concepts that touch upon such key aspects of wholesaling as territory process, success strategies, work habits, infrastructure of support systems, personal wealth management and industry-specific challenges. Mr. Shore himself a 25-year wholesaling distribution veteran and author of The Brotherhood of the Bag, A Wholesaler s Handbook will provide a deeper understanding of the challenges faced by those in the field, share common success traits that are transferrable to any distribution role, explore new systems of support, and what sales leaders can do to help wholesalers move to the next level. Rob Shore, Founder, Wholesaler Masterminds 10:30AM 11:30AM The Changing Economics of the Advisory Solutions Industry: Structure and Compensation Models Reexamined Although net flows of new assets to managers recorded their strongest post-crisis gains in 2013, the profitability of the asset management industry, which has historically generated robust operating margins, is being challenged today. This session will address the range of issues confronting asset managers as the competition from passive products and nontraditional asset classes increasingly erodes their traditional principal business of actively managing core assets. The business challenge comes down to managing multiple issues simultaneously among them: escalating distribution costs, longer adoption cycles for complex new solutions, the growing demand for investor and advisor education with respect to those new investment products, far reaching regulatory change, a free agency for intellectual talent, evolving incentive compensation structures, declining asset persistency, and the need to provide lower cost solutions to advisors and their increasingly cost-conscious clients. Taking these factors into account, the panel will explore effective manager business models, ones capable of delivering profitable solutions focused on solving client problems in this increasingly complex marketplace.

6 Moderator: Darlene DeRemer, Managing Partner, Grail Partners Jason Ainsworth, Managing Director, Head of Advisory Solutions Group, Neuberger Berman David Thorp, Managing Director, Head of Broker Dealer Sales, JP Morgan Asset Management Andy Provencher, Head of US Retail, BNY Mellon Investment Management 11:30AM Closing Remarks and Adjournment