Last night asset management industry leaders gathered high above midtown Manhattan for fine dining, discussion, and drinks, all hosted by a storied investing magazine.
| Marc Brookman|
Morgan Stanley Wealth Management
team held their annual asset management CEO appreciation dinner yesterday at the Rainbow Room atop Rockefeller Center. About 100 people turned out for the invitation-only event, which included a panel discussion featuring executives from three of asset managers' key distribution allies: Marc Brookman
, managing director and head of institutional wealth services products and sales at Morgan Stanley Wealth Management
; Tash Elwyn
, president of the private client group at Raymond James & Associates
; and Mark Tibergien
, CEO of Pershing Advisor Solutions
An executive with Barron's
declined to comment on the dinner event.
The financial publication hosts a number of events each year for financial advisors, events that are naturally sponsored by asset managers. For years the annual CEO dinner, then, has been a thank-you event specifically for top executives at asset managers who sponsor those FA-focused Barron's
events. Fundsters describe the dinner as a rare opportunity for valuable, high-level cross-firm networking and dialogue.
The panel discussion and the dinner table conversations covered topics including: the future life expectancy of the traditional mutual fund, versus other structures like the ETF and the separately managed account; the growing dominance of bigger advisory shops, which some attendees describe as a shift from an "80-20" rule to a "90-10" one; the DoL rule that might or might not
actually take effect this year and spread the fiduciary standard; the rise and future of roboadvisors; and more.
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