As we reflect upon 2018, I’d like to bring to your attention to several NICSA accomplishments that we are particularly proud of. We owe much of our success to the many member-led committees dedicated to furthering NICSA’s mission. That said, here’s the short list of some of NICSA’s notable accomplishments over the course of 2018:
We began 2018 with the goal of making NICSA’s conferences bigger and better than ever. We are happy to report that the NICSA General Membership Meetingwas the most successful GMM to date with record attendance, a record number of speakers, and over 12 hours of educational content. We hope to leverage this great momentum and are looking forward to an exceptional program for the Strategic Leadership Forum in April. Register Here.
Also, during the year, NICSA expanded its strong commitment to supporting the development of product, sales, and distribution best practices by forming two new committees– the Product & Distribution Committee and the Data Analytics Committee. With their help, NICSA was able to deliver high value content to our membership on these important topics. If you’d like to receive NICSA’s content updates on these topics, please click here.
One of the 2018 initiatives we are most excited about is the launch of the Diversity Project North America. With the aim of elevating this important issue from awareness to action, we have commitments from 20 founding firms (and counting!) and look forward to developing rich programming to engage the NICSA membership. As we enter the new year, we are dedicated to moving the needle on diversity and inclusion through the development of best practices within the asset management industry.
NICSA continues to grow and evolve in support of the industry we all serve. As always, please feel free to reach out to learn more about how you can get involved with any of NICSA's initiatives and/or join one of many committees. Please read the entire newsletter to see what other highlights, accomplishments and initiatives our Membership is working on.
We at NICSA wish you Happy Holidays and a prosperous New Year!
--Jim Fitzpatrick, President of NICSA
MORE 2018 GMM HIGHLIGHTS
DATA ANALYTICS: THE VALUE OF BUSINESS INTELLIGENCE REPORTING
“Firms across the asset management industry are increasingly focused on transforming into customer-centric, data-driven organizations. NICSA members discussed this movement and gained a deeper understanding of trends in business intelligence during a breakout session at the 2018 GMM.Lyndsay Noble, Lead, Analytics Consulting Practice, DST Systems, moderated the panel, which featured experts from BNY Mellon, Commonwealth, and ProFunds. …” Read Blog
PROTECTING THE FRANCHISE: MANAGING RISK IN THE GLOBAL ECONOMY
“NICSA members learned strategies for surviving and thriving in uncertainty during a session on the topic at the General Membership Meeting. Antonio Crombie, Strategic, Regulatory and Operational Risk Management Leader at Deloitte, lead a panel of experts from Foreside, Putnam, and SEI through the discussion, which was centered on best practices. …” Read Blog
ADVISOR FEEDBACK: SUCCESS STRATEGIES FROM TOP PERFORMERS
"There's no better way to up your game than to listen to your clients," said Mary Kralis Hoppe, CIMA, Senior Vice President, Field Sales, US Global Wealth Management at PIMCO Investments, during a panel on advisor feedback during the NICSA GMM. Hoppe moderated the panel, which featured leaders from Cerulli, ClaroAdisors, Freedman Financial and Merrill Lynch. The discussion included an overview of Cerulli's recent research on these disconnects. Read Blog.
FRAUD ALERT: CURRENT TRENDS & PREVENTION TECHNIQUES
“The latest technological innovations are bringing enhanced customer experiences to financial organizations, but with those milestones come new cybersecurity threats. As protecting firms and clients becomes a growing and evolving concern, it’s more important than ever to stay one step ahead of cyber criminals. NICSA members tackled this topic during a breakout session on best practices aimed at protecting investors during the 2018 GMM. Scott Nussbum, Director of Global Investigations and Compliance, Navigant, moderated the panel, which featured experts from Dechert, M3Sixty, and PwC. …” Read Blog
DIGITIZE ME: THE EVOLVING CLIENT EXPERIENCE
NICSA members learned about technological trends poised to transform the asset management landscape and how they can enhance the client experience during the 2018 General Membership Meeting. Chuck Gallant, Managing Director at BNY Mellon, moderated the panel, which featured experts from BlackRock, DTCC, and Northern Trust. …” Read Blog
“There is a greater emphasis on how firms present themselves in written, digital and in-person interactions, which has transformed marketing from a support function to a key voice in shaping business strategy, says Leslie Walstrom, head of U.S. intermediary marketing at Columbia Threadneedle Investments. Marketing teams' deep data trove helps sales pros have better conversations.” Watch Video
“New data tools can help distribution teams carve out a segment of advisors for internals to prospect, giving them "ownership" over part of the sales strategy rather than just supporting external business development, says Don Bonder, head of internal sales and service at American Century Investments.” Watch Video
Ignites:Advisor Fears Keep Performance-Fee Product Stuck at the Starting Gate
“Active managers see performance-based fees as a way to stay relevant to distributors amid the shift to low-cost passive funds, but advisors are in no rush to adopt products with the fee structure, according to speakers at a recent industry conference.” Read Article
NICSA is pleased to report that it has reached its goal of 20 founding members of the Diversity Project, an initiative launched in October 2018 with the aim of achieving diversity across all dimensions of the asset management industry through collaborative leadership from executive business leaders. Learn more about the Diversity Project North America and how your firm can get involved!
Ignites:NICSA Building a Grassroots Campaign for Diversity
“NICSA is leading the U.S. arm of the Diversity Project, which aims to come up with industrywide practices to support a more diverse and inclusive workforce, says the organization's president, Jim Fitzpatrick.” Watch Video
NICSA COMMUNITY UPDATE
New Member Update!
Today’s NICSA has continued to evolve into a dynamic cross section of all aspects of the global asset management industry, including asset managers, broker dealers, distributors, and professional service providers.
We are pleased to announce the following new members:
First Eagle Investment Management: An independent asset management with a focus on absolute returns and a dedication to downside protection for institutional and individual clients.
Great-West Financial: Delivers innovative products and services focused on addressing thee needs of investors for retirement income, life insurance, and investments, and providing focused financial solutions to businesses.
NICSA members continue to generate valuable insight and stimulating discussions on the future of the wealth management industry. Here’s a look at our top picks for the month:
Chapman and Cutler LLP:Simplified Overview of Digital Asset Investment
Digital Assets may be divided into several categories, based on operation, purpose and legal treatment. Although these categories are divided based upon language used, there is little definitional uniformity in the marketplace, and meaning may be difficult to discern to newscomers. This simplified overview attemps to provide some working definitions, and a description of how investors may gain exposure to the asset types...." Read More
OppenheimerFunds:Five Simple Principles of Sustainable Investing
"Sustainable investing is not new, but interest in it is on the rise. OppenheimerFunds offers these five principles of sustainable investing to institutions about how to be an engaged, effective ESG investor." Read More
UMB:Assessing the Quality of Your Data Provider
“UMB Fund Services asks Accupoint Solutions what fund firms should consider when evaluating the purchase of a database to support their sales and marketing efforts. …” Read More
#ICYMI: IN CASE YOU MISSED IT
A look back at NICSA’s recent educational programming:
Rule 30e-3: Best Practices for Notice, Access & E-Delivery
NICSA’s panel of experts from Invesco, Broadridge, MFS, and Morgan Stnaley to explore the key aspects and required action items related to the 30e-3 ruling.
NICSA’s panel of experts, including insights from FIS, MFS, and Wells Fargo Asset Management, explores how product teams are vetting and nurturing ideas, what factors are considered in the rationalization processes, and best practices for product, ops and service teams when launching new products.
As our industry re-defines the workplaces of the future, more firms are implementing and scaling workplace wellness programs. Hear from industry leaders like PwC, MFS Investment Management, Franklin Templeton Investments, and Invesco on what’s shaping employee programs.
Each year, the NICSA NOVA Awards showcase excellence in innovation and leadership within the asset management industry. Awards were presented at the 2018 General Membership Meeting.
This year’s Strategic Leadership Award winners are Robert Conti, Chief Executive Officer and President, Neuberger Berman; and Victoria McGowan, Head of Global Fund Administration, BNY Mellon. The 2018 Lifetime Achievement Award was presented to Jeffrey Paul Beale, Chief Administrative Officer and Vice President, Eaton Vance (retired).