Future Proof Recapped: 5 Highlights We Hope You Didn’t Miss!
We’re back from 2023’s Future Proof Festival! Relive?– or catch up on – everything that happened with a recap of our time on the boardwalk:?
1. We kicked off Future Proof with "CEO Insights: Surviving & Thriving with Betterment, Morningstar, and Apex Fintech". It was great to hear Kunal's take on how advisors are navigating investors' crisis of confidence in the market and meeting evolving investor needs. ?When pointing to the transfer of wealth to Gen X, Kunal said, "if I'm an advisor, that's where I'm focused." The panel also discussed the future AI is playing in the financial industry and how advisors can use the technology to better serve their clients.?
2. Day 2 started off with Michelle Wie West - pro golfer, advocate, and angel investor - discussing her investing journey and how the industry can cater to an emerging set of client prospects with Kunal. ?Michelle spoke on how building trust with her advisor was crucial to her satisfaction as a client and when it comes to choosing an advisor, "performance and track record matters", as does being honest - "[her advisor] doesn't hide mistakes and I respect that." Michelle expressed, "At the end of the day, I want to make a difference in the world..." and as a client, her advice for advisors is, to, "listen to your client and let them tell you their goals and what they believe in." After, attendees joined Michelle and Kunal in the Morningstar booth for golf tips, photo ops and a low stake putting competition. ??
3. Morningstar's The Long View, hosted a live podcast recording with special guest Nizar Tarhuni, VP of Institutional Research at PitchBook. Hosts Christine Benz and Jeff Ptak interviewed Nizar on key trends in the market and the implications they have for the evolving investor that advisors aspire to serve. Based on PitchBook’s independent analysis, Nizar’s advice to advisors is, “if you want meaningful results from adding an alternatives sleeve to your clients’ allocation, you can’t just dip your toe in. You have to be ready to commit for an extended period of time, over multiple vintages, with significant capital capacity in order to access quality managers and achieve your return and diversification objectives.”
4. Day 3 started off with an engaging workshop: “Strategies for Capturing the Hearts and Portfolios of Next-Gen Investors” from money and career expert Tori Dunlap. As a bestselling finance author, popular social media personality, and investor herself, Tori is tapped into the current trends, motivations, and preferences younger investors experience. ?Tori said, “Investing is a skill that is learnable and teachable just like anything else. There are no stupid questions when it comes to investing", and then encouraged advisors to foster an approachable, educational environment for their clients in order to build trust. “The first thing when it comes to learning about investing is finding someone you trust.”?Tori shared how younger investors are thinking about finance and how advisors can up-level their practice to keep pace with a new generation of clients. After, attendees lined up to meet Tori and get personally signed copies of her New York Times? bestselling book, Financial Feminist.?
5. Morningstar kept attendees caffeinated with stations staffed by talented Cappuccino Man baristas and raffled off customizable sneakers in our booth. Just like investor preferences, everyone has their own personal, unique style. Advisors and wealth managers step into their clients' shoes to meet them in their investor journey with personalized advice to each unique investor. Plus, who doesn’t love a fresh pair of kicks?
Investors are evolving, and we know financial professionals are committed to being there for their clients every step of the way. Do you have the insights and tools you need to grow with your clients? Find the latest insights and strategies on how to grow with the investors we serve together.?
If you loved our intelligent speakers and unique events at Future Proof, we have more in the pipeline. The Morningstar Investment Conference is our flagship annual event coming in June 2024, and this coming year, we're moving to the iconic Navy Pier in Chicago. Hope to see you there!?