Guest Columnist Dave Waluk

Mark Wiedman vows to ETF managers that BlackRock won't compete (directly) in the asset allocation game

Mark Wiedman: What we will not do is compete with you.

BlackRock

iShares

Wealthfront

Larry Fink

Matt Hougan

Dave Waluk

Mark Wiedman

Brian O'Donnell

Todd Rosenbluth

Katharine Earhart

Tim Clift

Mike Ableson

John Pileggi

This section contains news and coverage about the dozens of conferences held in the advisory industry every year. Those conferences range from annual events put on by the big custodians to small hands-on workshops hosted by law firms, consultants and tech companies, among others. RIABiz can't cover all the conferences, but this page includes our stories about those we have written about.

We hope that getting a flavor of the different gatherings helps you decide which are worthwhile attending and &mdash; if you're in the conference business yourself &mdash; what clicks with attendees and what doesn't. Have a suggestion for a conference we should cover? Email me, Brooke Southall at <a href="mailto:brooke@riabiz.com">brooke@riabiz.com</a>.

Conferences

A look at the numbers shows that exchange traded funds are starting to move in lockstep with RIAs and vice-versa. RIAs invested $496 billion in ETFs in the 12-month period ended June 30, 2015 – that’s a $78 billion increase compared to the same period the year before. By comparison, the wirehouse channel added 20% fewer ETF assets, or $397 billion in the last year; granted, an amount that was $70 billion greater than its aggregate investment during the same 12-month period the year before, according to Broadridge Financial Solutions. RIAs that manage portfolios and make discretionary investment choices for their clients value ETFs because they provide advisors with easy access to market segments at a cheap price – an especially important factor for RIAs who are compensated on an asset-fee basis. Fee-based advisors appreciate ETFs’ tax efficiency, liquidity and broad exposure at low cost. Conversely, RIAs are a prized channel for ETF-makers like State Street, Invesco, PowerShares, Vanguard Group and BlackRock. ETFs are also a major ingredient in portfolios devised by robo-advisors -- essentially automated RIAs -- for the mass affluent who invest more than 90% of their assets using ETFs.

ETFs

Outsourced investments are one of the fastest-growing categories in the financial advisory world. Perched between
the asset custodian and the financial advisor, these (mostly) turnkey asset management programs can handle all or a 
portion of their investing, technology and fiduciary duties.

Advocates of using these TAMPs point to how it's better for the advisor because it frees up more time to spend with clients and prospects. It's also better for clients because the duties are being handled by specialized professionals who benefit from economies of scale.

Skeptics say that it adds a layer of cost and takes away an element of control from the advisors in executing according to a client's financial plan.

TAMPs

The iShares chief encouraged the entrepreneurs, many of whom are ex-RIAs, to see themselves as primary purveyors of BlackRock ETFs

Mark Wiedman vows to ETF managers that BlackRock won't compete (directly) in the asset allocation game

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Mark Wiedman vows to ETF managers that BlackRock won't compete (directly) in the asset allocation game

Related Moves

June 7, 2024 at 1:44 AM

March 25, 2023 at 1:32 AM

March 5, 2025 at 3:20 AM

January 11, 2025 at 3:01 AM

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