Guide To Industry Conferences: Custodians

What You Need To Know About Pershing INSITE And Schwab IMPACT
Jim Crowley, Global Head, BNY Mellon’s Pershing; Jeffrey Kleintop, Managing Director and Chief Global Investment Strategist, Charles Schwab & Co.
Jim Crowley, Global Head, BNY Mellon’s Pershing; Jeffrey Kleintop, Managing Director and Chief Global Investment Strategist, Charles Schwab & Co.
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report
Jeff Berman, Contributing Editor & Reporter, Wealth Solutions Report

WSR launched our Guides To Industry Conferences last year to help readers determine which of the many wealth management industry conferences they should attend.

In each guide we report when and where the crucial events are scheduled to be held in 2024, along with who attends and why the conference is important.

This entry in the series, on custodians, covers the annual Pershing INSITE and Schwab IMPACT events.

There are at least 11 other custodians who serve the independent financial advisor space. They include TradePMR, Altruist and its Shareholders Service Group (SSG) subsidiary, APEX Clearing, Axos Advisor Services, Equity Advisor Solutions, Fidelity, Goldman Sachs Advisor Solutions, Interactive Brokers, LPL Financial’s custody platform for RIAs, the Schwab subsidiary TD Ameritrade Institutional, and the Wells Fargo affiliate First Clearing.

However, for now, Pershing INSITE and Schwab IMPACT are the main annual custodian events that attract wealth management firms every year.

Pershing INSITE

Coming up first, June 4 to 6, will be the 26th annual Pershing INSITE conference, hosted by The Bank of New York Mellon’s Pershing.

Jim Crowley, Global Head, BNY Mellon’s Pershing
Jim Crowley, Global Head, BNY Mellon’s Pershing

The conference shifts from Orlando, Florida last year, to Nashville, Tennessee, for 2024, at the Gaylord Opryland Resort and Conference Center.

INSITE typically attracts over 2,000 financial advisors, fintech providers, wealth management firm executives, and other industry leaders from across the U.S. for multiple sessions on investing, practice management, technology and other topics.

Registration currently costs $599 for attendees and $299 for one additional adult guest who is not employed at the same company.

This year’s theme is “Next Level,” and there will be a focus on how advisors and investment firms can harness data, technology and other innovations to provide “next-level solutions” for their clients, the firm said.

“It’s a special milestone year for BNY Mellon, which is celebrating its 240th anniversary, and INSITE 2024 will showcase the many ways we are focused on doing more and being more for our clients today and into the future,” according to Jim Crowley, Global Head of BNY Mellon’s Pershing.

Hanneke Smits, Global Head, BNY Mellon Investment Management
Hanneke Smits, Global Head, BNY Mellon Investment Management

“We launched our Wove advisory platform at last year’s conference and I’m excited to debut new features to the platform that will help us deliver on our promise to power the future of wealth management,” he said.

On May 6, the firm announced the agenda for INSITE 2024, saying it plans to unveil enhancements to Pershing X’s Wove advisory platform and the NetX360+ custody platform.

This year’s INSITE keynotes will be delivered by country music star Keith Urban and author and entrepreneur Fawn Weaver, Founder and CEO of Shelbyville, Tennessee, whiskey maker Uncle Nearest. Urban will join Emily Schlosser, Pershing COO, on the main stage.

Other highlights of INSITE 2024 will include an interview moderated by Bloomberg’s Carol Massar with Hanneke Smits, Global Head, BNY Mellon Investment Management, and Jenny Johnson, President and CEO, Franklin Templeton, about the “rapidly changing global financial market,” BNY Mellon said.

The closing night event will include live performances at the Grand Ole Opry.

Schwab IMPACT

Charles Schwab & Co. will host its 2024 Schwab IMPACT conference from Nov. 19 to 21 in San Francisco.

Jeffrey Kleintop, Managing Director and Chief Global Investment Strategist, Charles Schwab & Co.
Jeffrey Kleintop, Managing Director and Chief Global Investment Strategist, Charles Schwab & Co.

Last year’s event reportedly attracted 5,000 attendees with about 50% of them being advisors.

IMPACT is targeted at independent RIAs and independent recordkeeper clients of Schwab. But attendees include everyone from sole practitioners to members of RIA firms that have dozens of employees.

RIAs attend the annual conference to learn new concepts and techniques, help manage and grow their businesses by attending various education sessions, and network with fellow advisors.

Attending RIAs report that they generally serve affluent clients with $500,000 to $5 million in investable assets.

Walter Bettinger II, Co-Chairman of the Board and CEO, The Charles Schwab Corporation
Walter Bettinger II, Co-Chairman of the Board and CEO, The Charles Schwab Corporation

This year’s INSITE agenda was not yet available as of Monday. But Schwab points out on its event website page that session topics tend to include practice management strategies, compliance and regulatory issues, investment strategies, financial-planning tools and technology solutions.

Last year’s conference had several keynotes, including “Welcome and What’s Up with the Markets and the Global Economy,” with speakers that included Jon Beatty, COO of Schwab Advisor Services, and Jeffrey Kleintop, Managing Director and Chief Global Investment Strategist for Charles Schwab & Co.

Another keynote session last year was “Schwab Leadership: A Current Take on the Industry,” with Walter Bettinger II, Co-Chairman of the Board and CEO of The Charles Schwab Corporation; Bernie Clark, Managing Director and Head of Advisor Services for Charles Schwab & Co.; and Rick Wurster, President of The Charles Schwab Corporation.

Bernie Clark, Managing Director and Head of Advisor Services for Charles Schwab & Co.
Bernie Clark, Managing Director and Head of Advisor Services for Charles Schwab & Co.

Additionally, Kleintop moderated a discussion on challenges the financial services sector faces during another keynote session, “The Intersection of Technology, Security and Privacy.” The wide-ranging session covered global challenges in these areas.

There was also a session about generative artificial intelligence, covering expectations that it will lead to new ways of working and creating products and services. The session also covered potential risk.

This year’s sponsors include American Century Investments, BlackRock, Capital Group, Charles Schwab Asset Management, Eaton Vance, Gabelli Funds, Hartford Funds, Invesco, John Hancock Investment Management, T. Rowe Price, Voya Investment Management and William Blair.

Jeff Berman, Contributing Editor & Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.

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