As 2024 begins and temperatures on Wall Street plummet, allow Financial Planning to transport you back to warmer days and one of the hottest wealth management events of 2023.
Financial Planning is taking a special look back at
Our walk down memory lane is a series of exclusive interviews with insiders and newsmakers conducted by Financial Planning Wealthtech Reporter Justin L. Mack,
In this clip, Mack speaks with Manju Boraiah, head of custom SMA at Allspring Global Investments, an independent global asset management organization that serves financial advisors.
For him, Future Proof was a breath of fresh air not only because of the venue, but because it allowed so many parts of the industry that are typically kept in their own silos to come together in a relaxed environment that encourages collaboration.
"It's great to kind of see advisors, wealthtech firms and asset managers … on a beach, talking business," he said. "The last two days have been fantastic in terms of engaging RIAs and advisors, and then also getting to know the wealth ecosystem and how that's evolving, right? So I've had a great time so far."
For Boraiah, the most important talking point at the conference was customization and personalization in the SMA space. He said when people talk about personalization and customization in the retail world, it's mostly about direct indexing. But Allspring is known for its work in the fixed income space as well.
"If you look at the wealth spectrum, you have investors that have the range all the way from mass affluent to ultrahigh net worth. And the needs of different investors in different parts of the wealth spectrum are quite different. If you go up the wealth spectrum, you have customization, that can actually be quite excessive at times because their objectives and their needs are quite different. As you come down the wealth spectrum, the mass affluent probably are looking for some kind of customization, but not a lot. So balancing the two is actually critical," he said. "We see that trend catching up. And we are seeing that across the wealth spectrum."
Check out the full interview below.
Future Proof, an event billed as the first wealth festival, is making its return next summer and dates for Future Proof 2024 have already been announced. The event is slated to return to Huntington Beach Sept. 15-18, 2024.
Future Proof is also expanding in the new year with the addition of Future Proof Retreat, an additional event for wealth management leaders that will take place March 24-27 in Colorado Springs.
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