RIAs are congregating in Palm Beach. Fla., this week to discuss how to strengthen their practices and navigate a turbulent regulatory environment.
TD Ameritrade Institutional is set to bring industry influencers and independent investment advisors together June 11-14 for a pair of events at the Ritz Carlton Hotel in Palm Beach, Fla. This year's Elite Summit, which will focus on building a high-performing advisory firm, will for the first time include a Fiduciary Leadership Summit, which will tackle the topic of RIA regulation.
The Elite Summit consists of three days of keynote sessions, workshops and events designed to cover industry trends as well as practice management for independent RIAs, according to a TDAI statement: "Attendees will learn new ways to strengthen their firms' organizational structure, improve the client experience and manage for growth."
Barney Frank, the former U.S. representative and co-author of the Dodd-Frank law, will address the crowd as a keynote speaker. "Our goal is to offer advisors access to high profile industry leaders and few would argue Frank's impact on the financial services landscape," Tom Nally, president of TD Ameritrade Institutional, said in a press release. "Attendees will hear, first-hand, this influential policymaker's views on the current state of financial regulation."
Fred Tomczyk, president and CEO of TD Ameritrade, will be joining Nally on stage to share perspectives on the wealth management landscape, investor sentiment and recovery. Other keynote speakers include TED Talk contributor Shawn Achor, author of The Happiness Advantage, and Nassim Taleb, an author, economist and former derivative trader.
The event also incorporates the Fiduciary Leadership Summit on June 13, addressing proposed regulatory actions around improving advisor oversight and the application of a uniform fiduciary standard -- both of which are top of mind for advisors, Nally said in the press release: "The Fiduciary Leadership Summit offers an opportunity for industry stakeholders to come together and discuss ways to help guide policymakers toward the best possible outcomes for RIAs and their retail investor clients."
He added that summit participants -- who will also include investor advocates -- will discuss the status of regulatory proposals outlined in Dodd-Frank and address key issues for advisors, including the future of the fiduciary standard, improving advisor oversight and investor protections and raising consumer awareness in terms of working with a fiduciary advisor.
RIAs are well positioned to provide investors with independent, objective advice in uncertain economic times, Skip Schweiss, managing director of advisor advocacy and industry affairs at TD Ameritrade Institutional, noted in a press release. However, consumer awareness remains low when it comes to the difference between investment advice models and the fees and conflicts of interest that can exist in some areas of the financial advice industry. "It's important that, in addition to meeting with our industry peers, we seek the support and input of leading consumer groups and investor advocates to address concerns and uncover opportunities to advocate for and educate RIAs in their retail investors clients," Schweiss said in the release.
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