‘What happens when the music stops?’: Baird's John Taft

The financial system is safer than it was 10 years ago. But there are still risks lurking unseen in areas like ETFs, says John Taft, vice chairman of Baird.

Money has been flowing into passive investments such as ETFs in historic amounts. What happens when a bear market inevitably occurs? John Taft, former CEO of RBC Wealth Management and current vice chairman of Baird, sees this as one of several less-obvious risks to the financial system.