What do the most successful wealth management firms look like today and how do you measure their success? It’s a powerful question that yields different answers depending on who you ask. Wealth management professionals across all expertise have an array of answers. While one person points to a firm’s M&A activity another person might be pointing at organic growth rates. A technology provider, compliance officer, asset manager, behavioral psychologist, and a financial advisor will most likely all have different opinions on what a successful firm today looks like and they can all be right (I didn’t even get to the end client!).
This diversity in viewpoints is partly because the ecosystem of tools, services, and strategies any firm can deploy has grown and will continue to grow rapidly. Just compare the Kitces.com Advisor Technology Map from 2018 to today. Or that there are 70 times more stock market indices than listed stocks in the world. Or that by 2031 it’s expected that there will be more than a million managed investment products available. Innovations like direct indexing, alternative assets going mainstream, tokenization, and AI applications in nearly every tool imaginable are happening right now in real-time. Firms today face no shortage of choices on their path to success.
It takes an ecosystem to be successful now, and that’s why the Future Proof Festival was designed to bring together the entire wealth management industry. But what about the wealth management firm of the future – what does that look like? That is a core question that we aim to answer at every Future Proof event.
Finding the Conceptual Gaps in the World
I was listening to this Joe Lonsdale interview (he’ll be at the festival) and he was talking about how he looks at opportunities for new businesses by keeping an eye out for “conceptual gaps in the world.” It’s a simple yet powerful idea that encourages you to consider where an industry is today, envision where it could be in the future with new dynamics, and then build the bridge between the two. Although he was talking more about new businesses in his interview, the same model of thinking can be a useful when considering the wealth management firm of the future.
When you begin to speak with really smart people about what a wealth management firm of the future could look like, you realize there is no shortage of great ideas. We can’t wait to share these insights with you at the Festival in September. Below are just some of the speakers and sessions that will be tackling the question, what does the wealth management firm of the future look like?
The Compound and Friends Live: Peter Mallouk’s Blueprint for Success
Join Josh and Michael for an in-depth interview with Peter Mallouk, President & CEO of Creative Planning, one of the largest and most successful RIA firms in the country. Discover the strategies behind Creative Planning’s extraordinary growth, both organic and through M&A, and learn about Peter’s approach to balancing aggressive expansion with superior client service. Gain insights into his leadership style, current industry trends, and his predictions for the future of wealth management.
Big Picture in Practice Podcast: An Interview w/ Mike Gitlin
Join Ben Johnson & Julie Willoughby, alongside their guest Mike Gitlin, CEO of Capital Group as they help you innovate and stay up-to-date on the latest trends in a constantly evolving investment landscape.”
Is My Advisory Firm Normal? 6 Essential KPIs to Track & Compare with Michael Kitces
Discover how to assess the financial health of your advisory firm using six key performance indicators (KPIs). Learn to evaluate profit margins, overhead expense ratios, and scalability of EBOC. Understand how to use revenue per advisor to gauge productivity and capacity, and leverage revenue per employee as an indicator for sustainable growth. Gain practical insights to ensure your firm is on the right track.
Strategic Compensation: Recruiting, Motivating, and Retaining Top Talent
Discover how to design effective compensation packages that recruit, motivate, retain, and develop your staff. Learn strategies for implementing scalable solutions instead of one-off scenarios, ensuring long-term success in building a motivated team and a valuable firm.
Denitsa Balunis
Senior Vice President, Corporate Strategy
Edelman Financial Engines
Shannon Eusey
Co-founder & CEO
Beacon Pointe
Mike Gitlin
CEO
Capital Group
Jamie Hopkins
Chief Executive Officer
Bryn Mawr Capital Management, LLC
Sarah Levy
CEO
Betterment
Joe Lonsdale
Managing Partner
8VC
Peter Mallouk
President & CEO
Creative Planning
Brian Portnoy
Founder & CEO
Shaping Wealth
Sid Ratna
CMO, Financial Advisor Services
Vanguard
Samantha Russell
Chief Evangelist
FMG
Molly Weiss
Group President, Wealth Management Platform
Envestnet
Natalie Wolfsen
CEO
Orion
At the Future Proof Festival, we know that success looks different for nearly every firm and that building the modern wealth management industry requires a vast ecosystem of companies and people to move it forward.
For firms that are thinking about what the future could be like and are building the bridge there every day, there is no better place to see the latest innovations and engage with a community of forward thinkers. Join us at the Future Proof Festival and be part of shaping the future of the industry.
Nyle Bayer
CMO
Future Proof
PS – Have any questions? Email us at hello@futureproofhq.com
