Bullish On Financial Advisory Industry


It’s my last day in NYC, and it’s been an amazing trip. This was my first time here, and I enjoyed seeing as much of what the city has to offer as I could. Naturally, my first stop was Wall Street–no respectful finance nerd would go anywhere else first. After purchasing a CD and getting directions from an aspiring rapper (who assured me his sound is like Nas–we’ll see about that) in the financial district, I visited the The 9/11 memorial and was overcome with emotions. It was beautiful, but I couldn’t hold back the feelings of sadness as I read through some of the names, one of which was marked with a rose signifying a birthday. Words cannot do it justice–you just have to see it in person.

I often found myself walking countless blocks just taking in the sights, sounds, and smells…seriously, if I lived here I’d have to CrossFit twice a day because I’d be eating way too much. Speaking of CrossFit, of course I found time to drop in for a workout. I concluded my sight-seeing with Times Square at a night, which was a zoo. Now, don’t be fooled, this trip was not for pleasure. Despite enjoying what NYC has to offer, hands down the highlight of the trip was the Evidence Based Investing conference I attended.

On Tuesday, the who’s who of finance gathered at the Union League Club in Manhattan for the Evidence Based Investing Conference; when I say the who’s who, I’m not exaggerating…Charley Ellis, Jim Chanos, Larry Swedroe, Jim O’Shaughnessy, Barry Ritholtz, Josh Brown, and the list goes on. I was just honored to be in attendance, and to have the opportunity to rub elbows with them. For me, the conference was an opportunity to learn from the G.OA.T.S.

It was also an opportunity to reaffirm my approach to investing. I feverishly took notes, and have some good blog topics as a result. I’m excited to share the experience and information with you, but I’ll save the investment talk for another day.

The conference also allowed me to meet some outstanding financial advisors from across the country. Thanks to Twitter, I was already familiar with many of them, but to actually be able to have a dialogue with them was just as valuable as the knowledge I gained from listening to the panelists. It was inspiring to learn about the work they are doing with their clients, and made me feel good about what I’m doing with mine. Hopefully, I’ll be able to maintain these newfound friendships.

I leave feeling very good about the direction of my industry. Unlike any other conference I’ve been to, there were no sales pitches. The conversations were about how advisors can better serve our clients, and how we can create a better experience for investors. There are a growing number of advisors focused on the client–focused on financial planning and low cost, simplified, evidence-based investing. As more and more advisors convert to this mindset, the experience the average individual receive will only improve. Combine this movement, with the public’s increased awareness of fiduciary relationships (regardless if the DOL Fiduciary Standard stays), and I’m extremely excited for what is to come in my industry. It’s going to be good!

A quick shoutout to the gang at Ritholtz Wealth Management…thank you for putting on such an amazing conference. I’m lucky to be able to say that I was in attendance at the first one, and I’ll be back for all of the ones to come. They set the bar high for future EBI conferences, but I have no doubt that they’ll continue to move it higher.

Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.