What You Missed at Future Proof 2024: Innovative New Financial Trends
Future-Proofing YOUR Wealth: TPW’s Key Takeaways from the FutureProof 2024 Wealth Management Festival!
At Towerpoint Wealth, a cornerstone of our firm’s philosophy is continued professional development, growth, and innovation, and keeping our professional saw sharp.
In that spirit, and in the interest of ensuring that we are delivering the highest level of counsel, planning, and service, we were excited to send our Partner, Wealth Advisor, Jonathan LaTurner, and our Director of Research and Operations, Nathan Billigmeier to this year’s 2024 FutureProof Festival in Huntington Beach, CA, the world’s LARGEST wealth management festival.
This event brings together leading voices in finance, investing, technology, creative arts, sustainability, and wealth management, offering a unique platform for innovation and collaboration amongst all attendees.
With 4,400+ attendees, 33,000 one-to-one “Breakthru” meetings, 100 peer group discussions, over 50 Breakthru Experiences, and an estimated $22 trillion in total assets under management by all attendees, FutureProof 2024 was truly one for the books!
Now that the festival has concluded and Jon and Nathan are back with us here in Sacramento, we’re excited to share the key takeaways and innovations they brought back and outline how TPW will be implementing certain ideas to help us improve not only the operations of our firm, but also the planning, counsel, service, and guidance we provide to you.
What is the FutureProof Festival?
The FutureProof Festival is a wealth management festival — yes, a wealth management FESTIVAL — the brainchild of Barry Ritholtz. FutureProof stands out from traditional financial conferences in many ways, setting a new standard for how wealth management professionals engage, learn, and network.
FutureProof is a top-tier event…er…festival for wealth advisors, economists, and independent wealth management firms. Unlike stodgy conventional conferences that often consist of large formal presentations, buttoned-up panel discussions, and impersonal lectures, the FutureProof Festival emphasizes hands-on learning and dynamic interaction. The four-day festival was founded to:
- Help advisors answer their most pressing questions about the future of wealth management.
- Learn about innovative ideas focused on firm-building and operations, client collaboration, and investment and portfolio construction and management.
- Leverage technology for better client service and outcomes: A significant theme was the integration of AI and other technologies to improve the client experience. Tools like Finny AI and other WealthTech solutions showcased how advisors can optimize their service offerings by streamlining client interactions, improving follow-ups, and personalizing advice based on real-time data
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As Ritholtz highlighted, the FutureProof Festival represents the future of financial conferences, with a focus on collaboration, hands-on learning, and real-time problem-solving over passive listening, making it a transformative experience for advisors looking to elevate their practice, and for principals to elevate their wealth management firms.
One of the most unique aspects was the inclusion of engaging exercises, such as “corporate speed-dating” called Breakthru meetings, where advisors had the opportunity to rub shoulders with industry experts and innovators in short, focused, one-on-one sessions.
These Breakthru meetings are designed to foster more meaningful conversations, allowing participants to quickly exchange ideas, build relationships, and explore collaborations in an engaging and efficient manner.
Another standout feature was the festival’s “Level Up” series, a curated set of workshops designed to give advisors new skills and deepen their expertise. These sessions were interactive and practical, offering real-world applications that advisors could immediately implement in their practices.
Whether learning about advanced financial planning techniques or honing client relationship strategies, attendees walked away with actionable insights to elevate their advisory services.
The broad array of speakers also set the FutureProof Festival apart from traditional events. The festival brought together thought leaders not only from the financial industry but also from technology, impact investing, and creative fields, creating a truly interdisciplinary experience:
- Jill Schlesinger, Host, Jill on Money, CBS Mornings
- Saira Malik, Chief Investment Officer, Nuveen
- Ben Johnson, Head of Client Solutions, Asset Management, Morningstar
- Jeffrey Gundlach, CEO & CIO, DoubLine Capital
- Dominic Chu, Senior Markets Correspondent, CNBC
This diverse speaker lineup allowed for a broader perspective on wealth management, helping advisors to think outside the box and approach client challenges with fresh, innovative solutions.
Hot Topics from FutureProof ‘24
Every interactive session at FutureProof 2024 delved into the most critical and pressing topics for the future of wealth management, each designed to equip attendees with insights and tools to better serve their clients and grow as a firm.
If you’re curious, here is the full agenda, and below are some of Jonathan and Nathan’s favorite sessions:
Future-Proofing Businesses
It’s in the name! One of the central focuses at FutureProof 2024 was ensuring that wealth management firms are truly “future-proof,” exploring what the wealth management firm of tomorrow will look like and how to lead the charge toward that future in this ever-evolving industry.
Through the workshops and speaker sessions, attendees learned about the technologies and trends that are reshaping the financial landscape, including advancements in automation, data analytics, and client experience platforms. We also learned actionable steps to prepare for the future and stay competitive in the wealth management arena.
By staying ahead of these changes, at TPW we are better equipped to anticipate changes in client expectations and industry demands. The emphasis was on adopting innovative tools without losing sight of our core mission: Helping you remove the hassle of properly coordinating all of your financial affairs, so you can live a happier life and enjoy retirement.
Harnessing AI: Maximizing Innovation, Minimizing Risk
Another spotlight was on the transformative potential of artificial intelligence (AI) in the world of wealth management.
The sessions on harnessing AI taught our advisors how this technology can enhance efficiency, improve decision-making, and offer more personalized services to clients. They explored practical applications like automating routine tasks, analyzing large amounts of financial data, leveraging ChatGPT, and creating customized investment strategies.
Above all, FutureProof also touched on the risks of over-reliance on AI tools, stressing the need for a balanced approach that combines technological innovation with the human element that is so crucial to personalized financial and wealth planning.
Innovative Portfolio Management
The future of portfolio management was also a hot topic, with advisors exploring emerging strategies designed to enhance portfolio performance, reduce risk, and minimize income taxes.
With the financial markets constantly evolving, advisors must stay ahead of trends and consistently review and enhance their portfolio management strategies. The sessions underscored the need to consistently evaluate portfolios, ensuring they evolve with market conditions while staying aligned with client goals.
By incorporating these insights, Towerpoint Wealth can continue delivering diversified, top-tier advice to create portfolios that anticipate market shifts and exceed client expectations.
Driving Firm Culture and Leadership
Finally, the festival highlighted the importance of building and maintaining a strong firm culture as wealth management firms like Towerpoint Wealth grow with our clients.
As firms grow, so does the need for strong leadership and a cohesive culture. FutureProof incorporated sessions focused on the transition from advisor to CEO, offering insights on how to lead a firm through growth while keeping the team motivated and aligned with the firm’s mission. Wealth advisors and principals left FutureProof 2024 with strategies for cultivating a forward-thinking, client-centered culture, even as the firm expands.
Through these diverse sessions, Jonathan and Nathan brought back invaluable knowledge that will not only benefit our firm, but also enhance the services we provide to you as our client. Each session provided fresh perspectives and actionable strategies, ensuring that we stay at the forefront of the wealth management industry.
How was FutureProof Festival 2024 Different from FutureProof 2023?
As you may know, Towerpoint Wealth was fortunate enough to attend FutureProof in 2023 last year, with our President, Joseph Eschleman, in attendance with Jonathan and Nathan.
FutureProof 2024 stood out as a monumental year for the festival, with a 67% increase in attendance from 2023!
We feel that this year’s event fostered more opportunities for networking and organic growth than in previous years, allowing for an even MORE dynamic experience. This year’s iteration also offered many more insights on the development of technology in the wealth management industry that can help advisors to better achieve their growth initiatives and, more notably, serve their clients.
Our Top Takeaways from FutureProof Festival 2024
Though there have been many takeaways from this year’s FutureProof festival, we found that the most useful information gained from the conference was insight into RIA industry trends, the market landscape, and where the RIA industry is headed.
One standout presentation, from Michael Kitces, co-founder of CY Planning Network and Chief Financial Planning Nerd for Kitces.com, provided detailed information to help us understand how TPW measures up against other regional firms.
We also enjoyed the sessions with SS&C about client relationship management (CRM) systems that help us provide better and more coordinated communication and service to our clients. Another standout meeting was T. Rowe Price’s meetings about current ETF trends, which provided insightful commentary on trends and their effect on client portfolios.
The interactive format made the session engaging and informative, offering valuable insights into the firm’s positioning within the industry. It was reassuring to see that TPW is taking all the right steps to ensure we’re equipped to meet our clients’ complex needs, positioning us as a leader in the competitive financial landscape.
The sessions also included some valuable information about the ever-changing industry of financial technology, or FinTech. These sessions provided us with even more confidence in the TPW’s ability to source, vet, and implement technology-based solutions, allowing us to utilize the best available technology to operate our Firm and serve our clients.
Overall, FutureProof is a great event and continues to be a great conference to attend. We look forward to attending the years to come.
Final Thoughts
2024’s FutureProof Festival proved to be an educational, enlightening, and flat-out fun experience for Towerpoint Wealth!
From the innovative and engaging sessions at the festival, we were able to learn about groundbreaking advancements in AI, innovative portfolio strategies, leadership development, and firm culture. The festival offered actionable insights that we can’t wait to bring back to our clients.
The wealth management landscape is evolving and innovating, and we’re excited to evolve and innovate with it. With the knowledge gained at FutureProof, TPW is more prepared than ever to navigate the road ahead, always with your best interests in mind.
Our advisors didn’t just attend FutureProof to learn — they went to bring those insights back to you. By attending FutureProof 2024, our team at Towerpoint Wealth is returning energized and ready to implement these innovative strategies, ensuring that we continue to lead the way in the wealth management industry while staying laser-focused on what matters most — our clients.
We encourage you to schedule an initial 20-minute “Ask Anything” discovery call with us!
Joseph Eschleman
Certified Investment Management Analyst, CIMA®
Jonathan W. LaTurner
Wealth Advisor
Steve Pitchford
CPA, Certified Financial Planner®
Lori A. Heppner
Director of Operations
Nathan P. Billigmeier
Director of Research and Analytics
Michelle Venezia
Client Service Specialist
Luis Barrera
Marketing Specialist
Megan M. Miller, EA
Associate Wealth Advisor
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