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 Managing Director

The Barron's 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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