9 Smart Takeaways From IMCA Annual Conference

Here are some of the best and most eye-opening things we heard at IMCA's annual conference, held this week in Boston. See what was said on the sidelines and from center stage or check out the slideshow version here.

 

'Responsibilities Have Changed'

"CIMA certification has been updated because your roles and responsibilities have changed."

-John Nersesian, IMCA chairman, to advisors

Read more about how IMCA updated CIMA's curriculum and exams here.

 

Do Planners Increase the Odds Their Clients Will Meet Their Goals?

"It depends what their incentives are," widely followed statistician Nate Silver, editor-in-chief of FiveThirtyEight.com, said after giving the keynote address Tuesday.

 

Can Annuities Allay Fears About Not Having Enough in Retirement?

"I need my check coming in on auto-pilot. How am I going to arrange that? I want a big solid company to send me a check for the rest of my life. That surety, that benefit is hard to quantify. It’s a compass for spending, an anchor, as behavioral finance researchers would say. Here's what I get every month, let me build around that."

-Moshe Milevsky, author and professor at York University in Toronto.

Read more about Milevsky's view on annuities and retirement spending here.

 

Is Political Turmoil in Ukraine Upsetting Emerging Markets?

"You hear analogies to the 1930s. I don't think it will be that bad, but it's concerning."

-Benjamin A. Pace III, chief investment officer for Deutsche Bank, on troubles in Ukraine and Russia during a strategist panel.

 

'Twitter is the First Thing I Check'

"You have to be in the dialogue. Twitter is the first thing I check in the morning now. I follow some reports in Asia and Europe and get the early headlines."

-Jeffrey Kleintop, chief market strategist for LPL Financial, on social media.

 

'Frustrating and Sluggish'

"I think the next quarter or two can be frustrating and sluggish, but nevertheless I think it is within the context of normalization. I think we're getting back on a more historically-in-line growth rate. That's good for stocks."

-Jeffrey Knight, global head of investment solutions and asset allocation at Columbia Management, during the strategist panel.

 

'Extra Mile'

"Clients want advisors to go the extra mile, and to keep developing their competencies."

-Sean Walters, chief executive of IMCA, on research showing that clients want advisors to earn voluntary credentials

Read more about why clients want their advisors to earn extra credentials here.

 

Smart Use of Tech

“Searching for technology to increase your efficiency will drive down your efficiency. Instead, set up a process that provides incremental value to your clients over time."

-Jamie McIntyre, chief executive of Fortigent, an arm of LPL that provides a platform and consulting services focusing on high-net-worth individuals, on how advisors can better utilize technology to grow their businesses.