Asset management

Rapid developments in financial technology are among the industry’s top operational challenges, asset managers say.

Michael Kitces, Moderator, Partner and Director of Wealth Management, Pinnacle Advisory, Hollie Fagan, Managing Director, BlackRock, Estee Jimerson, Managing Director – Head of Asset Manager Distribution & Engagement, Envestnet, Kunal Kapoor, CFA, Chief Executive Officer, Morningstar, Inc., Natalie Wolfsen, EVP and Chief Solutions Officer, AssetMark, Inc.

Envestnet sees asset management as poised for major changes as broker-dealers move to fee-based business.

The firm plans to expand access to its line of low-cost funds to roughly 1,800, including those from BlackRock, Schwab and SSgA.

The funds, which account for roughly 1% of the $3.5 trillion of assets in ETPs, “pose real risks to American families.”

The firm plans to double in size in the next three years.

The framework targets so-called plain vanilla funds, yet leaves in place a more laborious path for firms wishing to list complex products.

An ETF expert suggests active management is the key to success in the current environment.