Five Key Wealth and Investment Management Industry Trends with Chip Roame

Conferences are a wonderful way to expand your network, explore industry trends, and enhance your skills. The most natural networking is hard to replicate over Zoom. It is the small talk in between speaker sessions, quick chats while refilling coffee, or conversations happening in the hallways. 

This week, Jack speaks with Chip Roame, Founder and Managing Partner of Tiburon Strategic Advisors, about the bi-annual Tiburon CEO Summit. This exclusive event allows executive-level clients to discuss a myriad of topics in the wealth and investment management world. 

In this episode, Chip talks to Jack about the evolution of target markets, offerings, distribution channels, tactics, and industry structure across wealth management and investment businesses.

Key Takeaways

• [01:45] - Key themes at the Tiburon CEO Summit.
• [02:25] - How target markets are evolving.
• [03:05] - How offerings (products and services) are evolving.
• [05:15] - How distribution channels are evolving.
• [06:35] - How Morgan Stanley rose to prominence as a distribution channel.
• [07:50] - How tactics (marketing, lead generation, technology) are evolving.
• [11:29] - How technology is evolving (personalization, AI, virtual delivery).
• [12:44] - How the industry structure is evolving.
• [16:35] - How firms are adapting to the learning curve.
• [17:22] - Key takeaways from the conference.
• [19:17] - What the Tiburon CEO Summit looks like.

Quotes

[08:02] - “The old methods have died. These models are not scalable. The scalable models appear to be paid lead gen, digital marketing of all forms, and the workplace.” ~ Chip Roame

[09:18] - “We need to move away from our opinions sometimes and look at the data. Schwab, Fidelity, Morgan Stanley, and Vanguard are getting the flow. What are they doing is the question.” ~ Chip Roame

[18:31] - “COVID has lessened the need for local proximity. Now your advisor can be anywhere, and you can work on Zoom, and that’s perfectly fine. That changes the game quite a bit.” ~ Chip Roame

Links

• Chip Roame on LinkedIn
• Tiburon Strategic Advisors
• Tiburon CEO Summits
• Fidelity Investments
• Charles Schwab
• Morgan Stanley
• Vanguard
• Orion
• eVestment
• Envestnet
• InvestCloud
• Robinhood
• CI Financial

Connect with our hosts

• LifeYield
• Jack Sharry on LinkedIn
• Jack Sharry on Twitter

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