RIABiz team fans out to to Pershing INSITE and TD Ameritrade's Elite conferences this week
NetX360's on the agenda at one of the industry's largest gatherings; Henry Paulson will be on the spot
5 min read- Pershing's INSITE conference expects 1,100 attendees, a 10% increase from last year.
- NetX360 platform integration and practical applications will be a key focus.
- Paulson's keynote speech promises insights into economic turmoil and Goldman's influence.
- RIA Complete will be highlighted, aiding brokers exploring the RIA model.
Elizabeth’s note: This is conference week at RIABiz. Brooke is kenneling his dogs and taking off for San Diego to TD Ameritrade’s Elite Advisor Summit. I’m leaving my kids in my husband’s capable hands and carting my laptop down to Fort Lauderdale, Fla., for Pershing’s INSITE 2010.
Brooke wrote a preview story about the TD conference: TD Ameritrade is pulling out the stops for 100 advisors in Laguna Beach. The story below is my look ahead at the hot topics at the Pershing conference, one of the industry’s largest. People have been mentioning the conference to me for months as one of the best. Our coverage plans include conference stories and slide shows on Wednesday, Thursday and Friday. Safe journeys to all who are traveling to these two industry events.
About 1,100 attendees are expected at he 2010 Pershing Insite conference in Hollywood, Fla., a 10% increase over last year’s registration for what promises to be a practical, results-oriented conference.
Among the hot topics are likely to be NetX360. More than half of Pershing’s 100,000 investment professionals have transitioned over to the new platform, said Jim Crowley a, Pershing managing director who oversees the National Customers group.
The big custodian and clearing company will also continue its push to convince broker-dealers to give the RIA model a try. And, top executives are likely to address Pershing’s place in an increasingly crowded market.
Advisors flock to steamy South Fla. for Pershing's conference and get a glimpse of web-based NetX360
About 10% ahead
The conference runs from June 9-11. Registrations are about 10% ahead of last year’s level, according to the company.
Crowley said the list of attendees was made up of about 24% registered reps; and about 30% RIAs and dually registered advisors. The remainder of the attendees are expected to be made of compliance staff, home office personnel and administrative employees.
About 10% of advisors scheduled to attend have more than $250 million in assets, he said.
Practical sessions, including lots of info on Netx360
The most notable change this year is the addition of a series of breakout sessions – called PowerHours – with practical advice for brokers and advisors – or “solutions.” One of those will be technology, and will focus on Pershing’s Netx360. The custodian introduced the technology platform to acclaim last year, but its final rollout date has been a moving target. For the RIABiz review of NetX360, see: Nevin looks under the NetX360 hood
Story Timeline
Crowley said among the topics that will be addressed the conference include how the platform will integrate outside software.
Outside the meeting rooms, advisors and brokers will be able to access Interactive Solution Centers, with “a bunch of Netx360 information,” Crowley said.
Wrapping up INSITE: Execs on the growth of the advisory business -- and what might endanger it
Paulson on the spot
At a time of continuing economic turmoil, the keynote speech by former U.S. Treasury Secretary Hank Paulson, who led the Bush Administration’s response to the financial crisis, is likely to draw keen interest. As a former Goldman Sachs CEO, Paulson may also draw some questions about Goldman’s famous influence in Washington, D.C.
An additional 600 people will be at the conference – employees of the 113 exhibitors, plus the people from Pershing there to make the conference work. Crowley said one top request from attendees in the past was access to Pershing staff.
The conference has seven sponsors: Federated, AvaMariaFunds, Dreyfus, Bondwave, Wisdom Tree, Van Eck Global and Reich& Tang Funds.
In contrast to some free industry conferences, Pershing’s costs $395.
RIA Complete
Last year, the company touted a suite of consulting and practice management services called RIA Complete, which is designed to help brokers experiment with RIA businesses. Crowley said that attendees would hear a lot about it again this year.
Attendees may also be attuned to a new in-house complication at Pershing. BNY Mellon Wealth Management Services has announced its intent to more aggressively market its custody services to large RIAs. The company hired sales director Peter Berg in April; the former Schwab executive plans to attend the conference.
For years, Pershing has called itself a natural home for larger RIAs. Crowley reiterated that goal in the phone interview.
The two subsidiaries of BNY Mellon are hammering out a working relationship, said Berg and Mark Tibergien, CEO of Pershing Advisor Solutions in this RIABiz article
But it’s just the kind of interesting tension that’s liable to catch the interest of advisors in the small, tight-knit RIA community.
Rely on RIABiz? Tell Google.
Naming us a preferred source puts our reporting first in your Top Stories and AI Overviews. Takes one click, and only you see the difference.