Time for Awards, Meetings and Appreciation
The calendar of advisor conferences has been full. BNY Mellon’s Pershing held its annual Insite event, for instance, in early June. Some of the highlights of that
Orlando meeting can be found in this issue’s RIA Lessons &
Meanwhile, the American Institute of CPAs hosted a gathering recently in Las Vegas, which Nexus Strategy President
and Industry Insights contributor Tim Welsh writes about this
month. The “big” takeaways from this event include the growing competitive presence of
Certified Public Accountants
and the pros and cons of
advisory businesses that are
smaller in size and scale.
At the Securities and
mid-June town hall in
Atlanta, Chairman Jay
Clayton described what a
new best-interest standard
might look like and how it could affect brokers’ behavior. His
comments on this development and those of other industry
officials are analyzed by Melanie Waddell, our Washington
bureau chief, in this month’s Playing Field column.
Retirement Planning columnist Scott Stolz breaks down
the industry’s “mixed feelings” for immediate annuities. The
Raymond James executive also explains the role these products can play in client’s future income streams.
In his Compliance Coach column, attorney Tom Giachetti
of Stark & Stark digs into a Department of Labor bulletin concerning environmental, social and governance (or ESG) investments. The DOL’s stance comes as ESG investments represent
more than a quarter of $88 trillion in assets under management worldwide, according to McKinsey & Co.
Turning to our cover story, our interviews with this year’s
Asset Managers of the Year Awards and analysis from Envestnet
| PMC are featured in “Poised for Performance.” Investment
Advisor is pleased to have partnered with Envestnet in the selection of the winners and at the awards ceremony, which took place
in New Orleans in May during Envestnet’s Advisor Summit.
We are grateful for all the time and insights that these
investment professionals —and the four Essential Advisor winners — generously shared with us at the event. We hope you
go to ThinkAdvisor.com to view videos of the full interviews
with these talented individuals and related materials from
our collaboration with Envestnet, which provides technology
and services to over 87,000 advisors and 3,000 companies in
financial-services and related fields.
Visiting New Orleans was
a revelation for me. I last
visited the Crescent City in
1988, when I was on my way
to Washington, D.C., to visit
graduate schools and consider my next steps in life
Over the past 30 years,
I’ve learned some French
and acquired a Belgian last
name that resembles that of Voodoo queen Marie Laveau of
New Orleans. And though I couldn’t properly pronounce all
the street names and menu items I encountered during my
stay there, I did better at this than I did three decades earlier.
Along with the beignets at Café Du Monde, the food, music
in the streets, history, cultural diversity and spirit of the city
are overwhelming — in a positive sense. And like my home-
town of San Antonio, New Orleans is turning 300 this year.
Both communities boast a tremendous mix of languages
and traditions, which I can say I am truly proud to be part of.
At a time when divisions in our country are being sharpened
by some politicians, I hope we can find ways to come together
to appreciate the richness of who we are and to see how
appreciating our differences while finding our commonali-
ties can serve to benefit us in the future.
We are pleased to have partnered
with Envestnet in the selection of
the 2018 Asset Managers of the
Year Awards and hope you go to
ThinkAdvisor.com to view video
interviews with this year’s winners.
By Janet Levaux