Kitces | Nerd's Eye View - Conferences

Impressions From The FPA Business Solutions Conference - What Does Practice Management Mean To You?

nospam@example.com (Michael Kitces) — Mon, 11 Mar 2013 06:07:00 -0500

The FPA Business Solutions conference ran last week from March 7th to 9th in Chicago, Illinois. Located conveniently at the Westin O'Hare airport, the conference drew about 200 total attendees and just under 30 companies that provide financial planning or practice management-related products and services to advisors.

The practice management content followed a wide range, from how to view disruptive technology - or even become a disruptor! - to recognizing that for most firms, the real challenge is not the technology (whatever it happens to be) but how to really utilize it most effectively. No matter what type of practice, every advisor was able to find something of use in the lineup of sessions.

At the same time, though, the conference still is not as large as it could (and perhaps should) be. Attendance by exhibitors was spotty, with most key areas like financial planning and CRM software represented by a handful of providers, but only a handful. Some service providers, like custodians, were sparse, and other types - like broker-dealers - were not present at all. In addition, the turnout of consultants seemed light, despite the fact that practice management conferences are typically a great place to meet experts to help you solve the unique and particular problems of your own business.

Nonetheless, the reality is that FPA Business Solutions remains one of the only independent practice management conferences available for those who want to see something beyond whatever their custodian or broker-dealer serves up to them. From that perspective, the conference remains a stalwart of the financial planning space. Nonetheless, if the goal is to really see a wide range of products and services - and especially technology - dedicated to financial planners, FPA Business Solutions continues to face tough competition from the Technology Tools for Today event and the FPA Experience national conference.

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Impressions From The Technology Tools For Today (T3) Conference - The Future Is Bright!

nospam@example.com (Michael Kitces) — Mon, 18 Feb 2013 06:05:00 -0600

The 2013 Technology Tools for Today (T3) conference ran last week from February 11th to 13th in Miami, Florida. Entering its 8th year, the event is hosted by financial advisor technology consultants Joel Bruckenstein and David Drucker, and continues to grow, as this year's conference included more than 600 total attendees and over 75 companies (generally hand picked by Bruckenstein and Drucker) that provide technology-related solutions for advisors - which means it will by far be the largest advisor-centric technology conference of the year. And notwithstanding how the event has grown, the reality is that the conference still has ample room to expand further, given that several problem areas for advisors still had relatively few solutions present. In fact, it was somewhat ironic that the conference had a thriving Twitter hashtag but only one provider of social media archiving tools!

In looking amongst the vendors and solutions available at the conference, several clear themes emerged, including an ongoing shift to web-based "cloud" solutions, the rising trend of software integration around CRM as the hub, and the availability of software on mobile devices. But perhaps one of the most striking themes heard from advisors in the hallways at this year's conference is simply that the available technology solutions have become so numerous, now one of the greatest challenges is just choosing amongst them all!

To say the least, the T3 conference is now a permanent "fixture" of the financial advisor conference space, and the growth of the event suggests the future still looks bright both for the conference itself, and the growth of technology solutions for advisors!

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Fixing The Financial Planning Conference Exhibit Hall

nospam@example.com (Michael Kitces) — Mon, 24 Dec 2012 07:04:00 -0600

It is a sad reality that at most financial planning conferences, most attendees go out of their way to avoid being in the exhibit hall, due to a combination of exhibitors that don't feel relevant, poor salesmen, and especially the few bad apples that really make the experience uncomfortable. Yet the reality is that financial planners actually should want to be in the exhibit hall - not only for the opportunity to find new vendors, service providers, and products for their businesses, but more importantly to do the requisite due diligence to ensure they are up to date on the latest products and services they can make available to their clients. In point of fact, doing such due diligence is arguably a key aspect of fulfilling one's due diligence obligation as a fiduciary CFP certificant!

So how can the bad exhibit hall experience be fixed? The starting point is attracting a broader range of exhibitors than "just" insurance and investment companies, broker-dealers, and custodians, but also including software and technology companies, consultants, and more. From there, lay out the exhibit hall itself less like a random scattering of exhibitors and more like an efficient supermarket with aisles dedicated to certain types of companies, and wrap it up with an Ignite-style session built to allow a little bit of time for a lot of exhibitors to show what they have to offer so participants can choose who to follow up with for further information!

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The 7 Best Financial Planning Conferences To Consider For 2013

nospam@example.com (Michael Kitces) — Mon, 15 Oct 2012 06:01:00 -0500

As someone who speaks at upwards of 50 conferences every year, I see a wide range of events created for financial planners. Yet unfortunately, the reality is that because there are so many conferences, it can be incredibly difficult to select the right conference, and I am often asked for recommendations about what I think the best conferences are to attend.

Accordingly, I've put together my own list of what I would view as the best-in-class conferences for financial planners (in the US, at least!) in seven categories coming up for 2013: Best Technical Content, Best Technology Content, Best Practice Management, Best for Advanced Practitioners, Best Overall Value, Best Virtual Conference, and Best Overall Financial Planning Conference.

I hope this is useful for you to use as your own guide in selecting events to attend for yourself and/or your staff for 2013!

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FPA Experience: The Big Show in Financial Planning

nospam@example.com (Michael Kitces) — Tue, 13 Mar 2012 08:00:00 -0500

Every community has its home - that place we all feel compelled to return to from time to time. In the financial planning world, that home is the FPA Experience conference - the annual convention of the Financial Planning Association that has become the biggest event of the year dedicated to the financial planning profession. Thousands of people from across the country - and increasingly, around the world - feel the need to visit the financial planning "homeland" and attend the conference. Some attend for the continuing education credit; others attend to be a part of their financial planning community. Personally, though, I believe the best reason to attend the conference is to see the latest offerings in the exhibit hall for the financial planning world, from products to services to vendors and technology providers. In fact, I would even say we have a professional ethical obligation to see the "big show" in financial planning at least once every couple of years.

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The Best 3 Financial Planning Conferences Of 2012

nospam@example.com (Michael Kitces) — Mon, 30 Jan 2012 23:32:07 -0600

Continuing education is a fundamental principle of being a professional. In fact, Competence is one of the 7 core principles in the CFP Code of Ethics and Professional responsibility, which includes both attaining and maintaining an adequate level of knowledge to serve clients. Unfortunately, though, it’s often the case that continuing education is not much more than checking off the box to receive credit for sitting through a session, regardless of whether the professional really learned anything. Well, in the spirit seeking out continuing education that actually teaches you something, here are my recommendations for the top 3 financial planning conferences in 2012 that are worth the investment and might actually teach you something new.
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Why Are Financial Planners So Afraid Of The Conference Exhibit Hall?

nospam@example.com (Michael Kitces) — Wed, 02 Nov 2011 09:24:00 -0500

Every financial planner delivering advice to clients must, at some point, help the client interact with and implement advice with a financial service or product provider at some point. Depending on the planner's business model, the implementation of the advice may or may not directly command a commission, but even a fee-only planner ultimately recommends financial products and services. After all, you can't investment in an IRA without an IRA custodian, you can't buy mutual funds or ETFs inside the account without interacting with mutual fund and ETF product providers, and you can't buy insurance without an insurance company as part of the transaction. In fact, implementation of the advice IS the 5th step of the financial planning process. Which raises the question: given the reliance of financial planning on implementation using financial services and products, why do so many financial planners try so hard to avoid the conference exhibit hall? Are we shirking our professional due diligence obligations, or is there another issue at hand?

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Are You Going To "The Most Interesting Conference In The World" With FPA This Fall?

nospam@example.com (Michael Kitces) — Fri, 17 Jun 2011 11:12:02 -0500

The FPA Annual Convention every fall is arguably the biggest event in financial planning each year. Typically drawing upwards of 3,000 attendees, it is certainly by numbers one of the largest conferences by far; although some of the custodial conferences (e.g., Schwab Impact) are competitive, FPA's is focused more directly on financial planning. This year, though, the FPA has rebranded the conference as FPA Experience, and conference chair Evelyn Zohlen is trying to take the event to a whole new level, with a huge focus on building community, and an effort to make it "the most interesting conference in the world" starting with a phenomenal promotional video!

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Greg Valliere's Insider View of Washington - FPA NorCal Keynote Session (Twitter Style!)

nospam@example.com (Michael Kitces) — Sun, 05 Jun 2011 19:44:00 -0500

Day 2 of the 2011 FPA NorCal regional conference wrapped up with a keynote session by Greg Valliere, of the Potomac Research Group, sharing his perspective on the activities in Washington now and in the coming years. Here are the highlights... as captured on the #FPANorCal twitter hashtag!

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Day 2 Highlights of FPA NorCal Conference - Twitter Style!

nospam@example.com (Michael Kitces) — Sun, 05 Jun 2011 15:00:00 -0500

Continuing our series for the 2011 FPA NorCal regional conference, here are the highlights from Day 2, as broadcast from the incredibly active Twitter stream on the #FPANorCal hashtag!

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Michael Lewis' Perspective on Wall Street - FPA NorCal Keynote Session (Twitter Style!)

nospam@example.com (Michael Kitces) — Sun, 05 Jun 2011 09:05:00 -0500

Day 2 of the 2011 FPA NorCal regional conference featured a keynote session by Michael Lewis, author of "The Big Short" to share his perspective on Wall Street and the recent financial crisis. Here are the highlights... as captured on the #FPANorCal twitter hashtag!

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Day 1 Highlights of FPA NorCal Conference - Twitter Style!

nospam@example.com (Michael Kitces) — Sat, 04 Jun 2011 17:09:00 -0500

The FPA NorCal regional conference ran as it usually does, on the Tuesday/Wednesday following Memorial Day weekend at the Palace Hotel in San Francisco. Pulling over 600 attendees from across the country, the event is on par with any national conference in the financial planning space. Here are the highlights from Day 1, as broadcast from the incredibly active Twitter stream on the #FPANorCal hashtag!
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Economic Outlook Highlights from Neel Kashkari - FPA NorCal Opening Session (Twitter Style!)

nospam@example.com (Michael Kitces) — Sat, 04 Jun 2011 10:31:27 -0500

This past week featured the 2011 FPA NorCal regional conference. Pulling over 600 attendees, don't let the "regional" label fool you - the event is on par with any national financial planning conference! The opening general session event featured Neel Kashkari, currently a managing director with PIMCO, and former chief of the Trouble Asset Relief Program (TARP) for the Federal government. Here are the highlights... as captured on the #FPANorCal twitter hashtag!
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Missed NAPFA National 2011? Experience The Entire Conference In Minutes... Twitter Style!

nospam@example.com (Michael Kitces) — Sat, 21 May 2011 20:24:10 -0500

This past week was the NAPFA 2011 National Conference in Salt Lake City. Pulling almost 500 attendees from across the country, it's one of the top financial planning events of the year. Unfortunately, though, many did not have the time or opportunity to attend the conference. The good news, however, is that a growing cadre of Twitter users "live-Tweeted" the conference for all to enjoy, using the #NAPFA11 hash tag. So for those of you who missed the conference, here's a quick synopsis of the entire 3-day conference from start to finish... from those who Tweeted it!

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Top 40 Tweets From FPA Retreat

nospam@example.com (Michael Kitces) — Sat, 14 May 2011 20:41:20 -0500

Earlier this month the Financial Planning Association hosted FPA Retreat, one of the leading cutting edge conferences on the art and science of financial planning. Drawing hundreds of attendees from across the country (and around the world, with participants coming from as far away as Australia!), the conference never lacks for interesting ideas and conversations, both within the sessions and out in the hallways. This year, though, those who didn't attend still had the opportunity to enjoy some of the content virtually, thanks to an active group of participants who "live Tweeted" highlights throughout the conference on the #FPARetreat11 hashtag. For those of you who missed it, here are some of the highlights...
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