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2017 Session Summaries—Day Three

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Friday, May 5

ICI President and CEO Paul Schott Stevens opened the final day of GMM by sharing his insights on the regulatory environment and calling on the Securities and Exchange Commission (SEC) to take steps to enhance the US economy.

This was followed by a session exploring the future of investment advice and the changing roles of technology and aggregation. The conference concluded with a spirited discussion between noted political scientist Ian Bremmer and GMM Chairman James McNamara about global political risks and how political developments can move markets.

Washington Today: A Regulatory Update

ICI President and CEO Paul Schott Stevens addressed GMM on the most pressing regulatory issues facing the fund industry, including the need for the Securities and Exchange Commission (SEC) to take new measures to enhance the US economy. He also spoke of the need to strike balance in regulating the fund industry, and urged the SEC to adopt a best interest standard that covers all investors, ensure that funds have access to the derivatives market, and allow funds to move to online delivery of disclosure materials as the default option for shareholders.

The Future of Investment Advice

At this session, wealth management leaders explored the future of investment advice, including the roles of technology, aggregation, and robo-advice. They spoke on the key importance of advisers helping clients protect themselves from hacks and other cybersecurity dangers, as well as on how regulations are affecting the technological investment environment. Moderating the panel was Stuart Parker, president of PGIM Investments. Also participating were Eli Broverman, cofounder of Betterment; Kelly Coffey, CEO of U.S. Private Bank at J.P. Morgan; and Ben Huneke, managing director and head of investment solutions at Morgan Stanley Wealth Management.

Managing Risk in an Unstable World

Ian Bremmer—noted political scientist, author, and president and founder of the Eurasia group—spoke to attendees about how new political developments can move markets, as well as political risks around the world. Following his presentation, Bremmer participated in a lively question-and-answer session with James McNamara, chairman of this year’s GMM, and president and CEO of Goldman Sachs Mutual Funds.

Day One |  Day Two