IMPACT 2019: Technology Wraps up Another Top-Notch Conference

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Participants at the conference


IMPACT 2019: Technology Wraps up Another Top-Notch Conference

Aaron Levitt Nov 08, 2019

Finally, exchange-traded funds (ETFs) received the spotlight on the final day of IMPACT with both State Street and American Century offering talks on the product type. This included dispelling various myths about ETFs and how zero-commissions can change the game for advisors using ETFs in their practice.
In the end, IMPACT proved to be another dynamite opportunity for the advising and planning community to get some valuable knowledge, hob-nob with other professionals, and learn about building a better practice.
Check out our Schwab IMPACT 2019 Channel to catch the highlights from the event.

Robo’s, Workflows and Fintech! Oh My!

Up first was news and a showcase by Goldman Sachs. Goldman’s FinLife CX – its RIA platform – announced it was launching a new robo-advisor service targeted at the smaller investor market. It’s a huge departure from Goldman’s typical high-net-worth clients and shows that its focusing on the mass affluent. Rachel Schnoll, head of Goldman’s RIA platform, mentioned that “Advisors struggle with small clients and what to do with them.” But a digital service could bring plenty of new business into Goldman’s platform and make automating these smaller clients easy.
And speaking of those efficiencies, Envestnet showcased a variety of new products designed to automate various RIA workflows including account openings/management, total financial picture access and client communication portals.
However, Christopher Robbins of Glassman Wealth Services was quick to point out that while technology is producing all sorts of opportunities for advisors, it’s important to make sure to balance human involvement and technology. The ultimate idea for an advisor is to deliver real customer value and not make it a cold experience.
Be sure to check our Q&A with CAIS here.

Don’t Overreact to Politics

Elsewhere, asset allocation was on the menu in talks – one by TrimTabs, the other by Schwab. With the markets clearly showing signs of slowing and investors getting uneasy, TrimTabs made the case for “value” overtaking “growth” as the upcoming theme. Meanwhile, Schwab suggested that despite recent missteps for international stocks, the modern portfolio theory and diversification still has plenty of merits.

“See Ya” From San Diego

Once again, IMPACT proved why it’s the Super Bowl of the RIA world.

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