IMCA’s 2016 Annual Conference—ACE, April 17–20 in Orlando, provided three days of actionable insight into politics, markets, and the latest investing and wealth management trends impacting investors and advisors. Here are five must-read articles written about the conference.
1. Breaking down the “nastiest election of our lifetime.” If Donald Trump wins the presidential election, at least one person will be hoping for a windy inauguration day, writes Jeff Benjamin of . Greg Valliere, chief political strategist at Horizon Investments, noted that the markets don’t react well to uncertainty, calling Trump “The mother of all uncertainties.” Also uncertain: Hillary Clinton is hardly a lock as the Democratic nominee and faces several significant roadblocks to winning the White House. Read the article, Horizon Investments' Greg Valliere Bemoans Election Tone, Economic Growth for details.
2. Jedi mind trick: Make clients want to pay your fees. Digital tools are commoditizing financial advice, making it harder for advisors to articulate their value, according to Scott Welch, chief investment officer at Dynasty Financial Partners. Advisors need to shift their mindsets and deliver a better experience to clients. One tip for advisors: It helps to think about why you might choose a luxury brand over a more affordable option and apply that to your practice, Welch said. Read Maddy Perkins’ article, Why Clients Should Want to Pay Your Fees.
3. $38 trillion in flux the next four years. Between more baby boomers retiring, generational wealth transfers, and proliferation of robo-advice, $38 trillion of investable assets is up for grabs in the United States today, according to consulting firm A.T. Kearney. Where is it headed by 2020? Read Diana Britton’s article, Where’s the Money Going in 2020?, for six transformational trends shaping the industry and impacting client investments.
4. Energy bonds on the ropes. Oil’s current price around $40 a barrel has wide-ranging impact on the financial industry. Energy businesses are suffering and at least 50 percent of all energy bonds likely will default if oil stays in the $40 range, according to Jeffrey Sherman, portfolio analyst at DoubleLine Capital. Read Evan Simonoff’s magazine article, DoubleLine's Sherman: 50% of Energy Bonds Could Default.
5. IMCA honors Morningstar veteran, six others, for outstanding achievement. Don Phillips, managing director at Morningstar, earned the Matthew R. McArthur Industry Pioneer Award for his contributions to the investment management consulting industry. IMCA presented awards for outstanding achievement to six other professionals at the conference. Read Karen DeMasters’ magazine article, Morningstar's Phillips Honored By IMCA for complete details.