News, Vision & Voice for the Advisory Community


The MarketCounsel Summit gets the RIA business out of its shell

Sallie Krawcheck threw a cat amongst the pigeons; Tony, I-come-in-peace, Robbins, more so and Addepar's Eric Poirer emerged from his silicon cave

Author Guest Columnist Timothy D. Welsh December 12, 2014 at 6:25 PM
1 Comment
no description available
Envestnet's John Phoenix and Brian Hamburger clap hands at the high-energy confab




Pete Giza

Pete Giza

December 13, 2014 — 8:11 PM


Somebody has to be a contrarian who better than me:-) Sallie entered the stage focusing herself on MIndy with a seemingly grim demeanor. After 10 minutes or so Sallie turned squarely into the audience and said 'I feel as though I’ve been invited here as the wicked witch representative of the wire houses’. It was at that point she really captured the audience.

SIde bar: I have listened to 1000’s of public speakers so I am not easily impressed. Sallie’s ability to capture, command and hold an audience is top notch. There would have been significant entertainment value if she and Tony had taken the stage together.

When mentioning the loss of 34 or so advisors she said the losses were offset by the gain of 26 new teams with better quality clients and higher value. Another interesting point she made was that profits had remained flat for 17 years across the products.

Yes she kept reminding the guys that we would all be worm food soon and that our dear wives would not tolerate our current choice of advisor if there wasn’t a proactive move by these firms to really connect with the wives and families. Tony Robbins showed us guys how not to connect with our significant other when on a road trip. Outside of being comical there was a serious message about communicating with your audience.

Another thing I think she did with her stoic candor was to effectively say 'stop worrying about stuff you can’t fix – roll with it, adapt to it’. If you hadn’t guessed she was referring to the revenge of the wirehouses and the robo advisors. She said we’re all likely to use all of these at some point in our financial life experience and perhaps many with significant overlap.

Rather than labeling Sallie’s discussion “a downer” I believe she presented with professional candor and concern. We should all know by now that it isn’t all positive and presenting things in a contrarian or from a negative logic is highly valuable to those who want to gain broad perspective.



Pete Giza | VP Business Dev | WealthSite Inc | www.WealthSite.com

Related Moves

January 9, 2024 at 4:09 AM

UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture

Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.

July 16, 2022 at 1:35 AM

The new 'Tony Robbins' book debut coincides with Ajay Gupta revealing plan to retire, which leaves Creative Planning to keep the referral spoils with Robbins down to a 'with' credit on the cover

Peter Mallouk's and Robbins' book, 'The Path: Accelerating Your Journey to Financial Freedom,' was released this week through a new publisher and word got out that 50 year-old Gupta was departing with little explanation

October 16, 2020 at 7:49 PM

Mentioned in this article:

MarketCounsel | HamburgerLaw
Compliance Expert, RIA Set-up Firm, Regulatory Consultant
Top Executive: Brian Hamburger

Nexus Strategy
Consulting Firm
Top Executive: Timothy D. Welsh

Envestnet Inc
Top Executive: Jud Bergman

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.