Nicsa’s Asset & Wealth Management Summit kicked off with a dynamic session featuring top C-suite executives in the asset and wealth management industry. Moderated by Kevin Mahn, President and Chief Investment Officer at Hennion & Walsh Asset Management, this session dove into the most pressing issues and innovations in our industry today.
Panelists
Michelle Fuller, Independent Consultant, formerly Head of US Private Wealth at John Hancock
Kristina Hooper, Chief Global Market Strategist, Invesco
Rob Kane, Director, Alternative Investments, Commonwealth Financial Network
The discussion focused on insights on the economic landscape, the evolving role of alternative investments, the impact of artificial intelligence, and the importance of diversity, equity, and inclusion (DEI) within the industry. The Powerhouse Panel outlined key trends that are shaping the future of wealth management, as well as the challenges and opportunities they bring.
Key Takeaways
Conclusion: This session underscored the importance of remaining adaptable to economic and technological shifts, while maintaining a focus on long-term strategies over reactive, short-term responses. From AI to DEI, these trends collectively illustrate an industry increasingly oriented toward innovation, inclusivity, and resilience, aiming to provide clients with sustainable value amid an ever-changing financial environment.
Nicsa remains at the forefront of fostering innovation and collaboration among professionals in the industry. We invite you to join us at our next event, where you'll have the opportunity to engage with industry leaders, explore cutting-edge technologies, and gain valuable knowledge to drive your business forward. Don’t miss the chance to be part of our dynamic community shaping the future of asset and wealth management: SLF2025
Boston, MA – October 22, 2024 – Nicsa, a prominent association in the asset and wealth management industry, is excited to reveal the recipients of the 2024 Nicsa NOVA Awards. These prestigious awards celebrate outstanding achievements in leadership and innovation across the industry.
The winners of this year's awards are:
Lifetime Achievement
Satnam Gambhir, Chief Executive Officer & Chief Design Officer, Envision Financial Systems
Strategic Leadership - William T. Blackwell Award
Amrit Kanwal, Chief Financial Officer, MFS Investments
Outstanding Service - Robert L. Gould Award
Eileen Storz-Salino, Executive Director, Morgan Stanley
Jim Keenan
Industry Innovation
Asset Management Firm of the Year | Avantis Investors by American Century
Alternative Investments Firm of the Year | FS Investments
Wealth Management Firm of the Year | Morgan Stanley Wealth Management
Innovation in Distribution | Franklin Templeton
Innovation in Operations | Broadridge
Innovation in Product Development | DFIN
Innovation in Product Development | SS&C Technologies
Innovation in Technology | Envision Financial Systems, Inc.
Innovation in Technology | Morgan Stanley Wealth Management
Emerging Leaders
Leigh Ann Alridge, Head of Contact Center, SS&C Technologies
Zahid Avi, Executive Director, Morgan Stanley Wealth Management
Tamika Boateng, Managing Director, PwC
Grace Coulom, Senior Director, Head of Multi-Asset Product Management, Columbia Threadneedle Investments
Ryan Grosdidier, Business Development Lead, Retirement Income Solutions, SS&C Technologies
Sam Landset, Assistant Vice President, Private Equity Funds, STP Investment Services
David Likens, Head of Shared Services, STP Investment Services
Nate Richey, Retirement Plan Retention Specialist, Capital Group Companies
Freddy Rosas, Second Vice President, Northern Trust Company
Kaisha Schnoll, Assistant Vice President, Trade Settlements, STP Investment Services
Michael Spitaletta, Senior Internal Wholesaler, Hennion & Walsh
Sarah Norman, Senior Product Manager, Edward Jones
President’s Award
Justine Phoenix, Vice President, Distribution & Broker Dealer Engagement & Head of Diversity Project North America, Nicsa
“We are thrilled to honor this year’s exceptional awardees, whose contributions underscore a standard of excellence in the asset and wealth management industry. Their dedication, innovation, and leadership inspire us all, and it’s a privilege to recognize their impact. We look forward to celebrating their achievements at the upcoming Nicsa Asset and Wealth Management Summit,” said Jim Fitzpatrick, President & CEO of Nicsa.
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset and wealth management industry in order to develop, share, and advance leading practices. For over sixty years, Nicsa has promoted a collaborative environment where members come together to help strategically address the industry’s most vital issues.
Nicsa’s Diversity Project North America champions DEI as a strategic business priority within the asset and wealth management industry. The goal of the Diversity Project North America is to advance better business results for our member firms and positive long-term impact for the clients we all serve by fostering an industry where diversity is achieved, equity is the standard, and inclusion is celebrated.
Each year, from September 15 to October 15, National Hispanic Heritage Month celebrates the rich histories, cultures, and contributions of Hispanic and Latino communities. This period is a time to reflect on the profound influence Hispanic Americans have had on the history of the United States and the world. Many of Nicsa’s Diversity Project North America (DPNA) member firms recognized Hispanic Heritage Month with events and activities that foster education, cultural appreciation, and community engagement.
DPNA’s Industry Engagement & Events Committee gathered ideas from member firms reflecting the ways they celebrated Hispanic Heritage Month and highlight Hispanic contributions within their organizations:
Allspring Global Investments
Allspring marked Hispanic Heritage Month with a dynamic lineup of events across several offices:
Fidelity Investments
Fidelity celebrated Hispanic Heritage Month with a variety of interactive and educational events:
HSBC
HSBC embraced Hispanic Heritage Month through a series of events designed to educate, celebrate, and inspire. Notable activities included:
These initiatives reflect the commitment of DPNA member firms to honor Hispanic Heritage Month, not only by celebrating the rich cultures and contributions of Hispanic communities but also by fostering learning and inclusion in the workplace. Through these activities, DPNA members are helping to create a more inclusive and diverse asset and wealth management industry.
Nicsa’s Diveristy Project North America champions DEI as a strategic business priority within the asset and wealth management industry. To find out more, visit nicsa.org/diversity-project.
Boston, MA – October 14, 2024 – Nicsa, a non-profit trade association dedicated to connecting all facets of the asset and wealth management industry to advance leading practices, is pleased to announce the appointment of several distinguished professionals to its Board of Directors.
These new board members bring a wealth of expertise, diverse perspectives, and industry leadership that will play a pivotal role in furthering Nicsa’s mission to foster collaboration, innovation, and best practices within the asset and wealth management community. Their collective impact is expected to drive meaningful progress in addressing the challenges and opportunities facing the industry, ensuring that Nicsa continues to support its members and stakeholders in navigating a rapidly evolving landscape. The new slate of directors and officers will take effect October 29, 2024.
The new Board members are as follows:
Chris Goff, Columbia Threadneedle
Jocelyn McBride, Sodali & Co
Stella Mink, John Hancock Investment Management
Tiffani Potesta, Voya
“We’re very excited to welcome these industry leaders to our Board of Directors. Nicsa’s long-term mission will benefit from their expertise and leadership,” said Jim Fitzpatrick, Nicsa President & CEO.
The following Board members were elected for a second three-year term:
Ryan Burns, Northern Trust
Ken Cawley, Goldman Sachs
Kirsten Pickens, FS Investments
Steve Rueschhoff, Edward Jones
Cindy Schreiner, RBC
The following Board member were elected for a third one-year term:
Stacy Bernstein, American Century Investments
Mark Lavan, Franklin Templeton
The elected officers on the Nicsa Executive Committee include:
Chairperson: Clint Harris, Invesco
Vice Chairperson: Stacy Bernstein, American Century Investments
Vice President & Treasurer: John Stadtler, PwC
Vice President, Content: Janet Bienkowski, MFS Investment Management
Vice President, Membership: Ryan Burns, Northern Trust
Vice President, Nominating: Kirsten Pickens, FS Investments
Vice President, Audit: Kevin Mahn, Hennion & Walsh
Vice President, Technology: David Rosen, Morgan Stanley
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the global asset and wealth management industry to advance leading practices. For over sixty years, Nicsa has promoted a collaborative environment where members come together to help strategically address the industry’s most vital issues.
Nicsa’s Diversity Project North America champions DEI as a strategic business priority within the asset and wealth management industry. The goal of the Diversity Project North America is to advance better business results for our member firms and positive long-term impact for the clients we all serve by fostering an industry where diversity is achieved, equity is the standard, and inclusion is celebrated.
Nicsa’s recent webinar, The Pulse on Tailored Shareholder Report Implementation, brought together over 290 attendees, highlighting the growing importance of this regulatory change. Moderated by Michael Donowitz, VP of Regulatory Affairs at Broadridge, the webinar focused on the experiences and lessons learned by industry experts as they navigated the first wave of tailored shareholder report implementations.
Background on the Regulatory Landscape The SEC’s efforts to modernize fund disclosure in the U.S. have been in development since 2015 and aim to simplify shareholder reporting, improve clarity, and enhance the accessibility of key information. Similar movements are taking place globally, with Canada and parts of Europe considering similar updates to their investor disclosure requirements.
The Tailored Shareholder Report rule marks a significant shift, introducing streamlined, more readable reports designed to better inform shareholders while still meeting regulatory requirements.
Varied Insights & Impacts The rule has had wide sweeping impact on the industry and this webinar featured a distinguished panel representing various perspectives including:
Amy M. Fothergill, Vice President, Asset Servicing Product Developer at State Street;
Anu Patil, Vice President, Vendor Management Oversight at JP Morgan; and
Harsh Choudhary, Head of Product Management, Regulatory Communications at Broadridge.
Together, the panel covered all aspects of implementing Tailored Shareholder Reports, from composition to oversight, data management, and compliance.
Lessons Learned One major takeaway was the need for early planning. Many firms struggled with the tight timelines and the complexity of managing different elements of the reports, particularly the new SEC data-tagging requirements. Another key conclusion was that close collaboration between internal teams and external vendors helped mitigate issues and ensured that the reports met both regulatory and shareholder needs.
What Proved Most Helpful
How Firms Are Leveraging AI
Next Steps The panelists stressed that the first round of tailored shareholder reports provided valuable learning experiences. As firms continue to refine their processes, the focus will shift to optimizing report generation and ensuring that the reports deliver the intended value to shareholders. Data integrity, consistency in reporting, and enhancing investor understanding will remain key priorities.
Conclusion The Tailored Shareholder Reporting rule represents a significant step forward in regulatory modernization. While the initial implementation posed challenges, the industry has demonstrated a strong commitment to collaboration and continuous improvement. As firms adjust to this new reporting landscape, shareholders stand to benefit from more accessible, transparent, and informative disclosures.
Stay tuned for more updates from Nicsa as our member firms continue to fine-tune their reporting processes and learn from the first round of implementation.
Keep abreast of upcoming Nicsa webinars at learn.nicsa.org/webinars.
Nicsa's Diversity Project North America 2024 Impact Report is now available! This comprehensive report captures our ongoing efforts to promote diversity, equity, and inclusion across the asset and wealth management industry. It highlights key engagements with members, industry leaders, and stakeholders, while showcasing major initiatives that have driven change and impact since our inception. The report also serves as a centralized resource hub, organizing a wealth of content and tools into clearly defined, easy-to-navigate pillars. These pillars are designed to provide actionable insights and practical solutions for firms looking to embed DEI strategies within their organizations.
A Deep Dive into the Future of Finance
Nicsa's highly anticipated Asset and Wealth Management Summit, set to take place in October 2024, is set to bring together some of the most influential industry voices. Groundbreaking discussions on artificial intelligence (AI) and alternative investments will drive this Summit toward forward-looking conversations on the evolution of asset and wealth management. Here’s a look at the key speakers who will be shaping the conversation.
C-Suite Fireside Chat
Moderated by Kevin Mahn, President and Chief Investment Officer at Hennion & Walsh Asset Management, our C-Suite fireside chat will dive into the most pressing issues and innovations in our industry today with a candid conversation with:
Michelle Fuller, former Head of US Private Wealth Distribution at John Hancock Investment Management; and
Kristina Hooper, Chief Global Market Strategist at Invesco.
Artificial Intelligence
One of the most anticipated sessions at the summit will be the keynote on artificial intelligence. The Summit will not only focus AI concepts, but the journey toward implementation and getting results.
David Wu, Head of Generative AI at Morgan Stanley Wealth Management, will explore how AI can streamline operations, improve decision-making, and enhance customer experiences.
Alternative Investments
The alts landscape has seen a significant surge in interest as investors seek diversification beyond traditional assets. The Summit keynote on this area will address structured wealth solutions for a global client base, as well as the distribution strategies and advisor education needed to support this critical area. This session will feature:
Doug Krupa, Managing Director and Head of Global Wealth Solutions in the Americas at KKR; and
David Unanue, Director of Wealth Management Investment Resources at Capital Group.
The Nicsa Asset and Wealth Management Summit is open for registration now. The event will be an essential event for anyone in the industry looking to stay ahead of the curve on these two high-growth areas.
The full agenda can be viewed here. Don’t miss this opportunity to position your firm for success in an evolving financial landscape.
Nicsa’s Diversity Project North America's Education Engagement & Outreach Committee is dedicated to widening pipelines of diverse, early career talent into the asset and wealth management industry. In a recent meeting, the committee focused on how to support, retain, and promote that talent. A summary of the results of that Round Table discussion follows.
Nicsa’s DEI Perception Study offers robust data on industry perceptions and challenges us all to think and act differently in our organizations.
One of the key takeaways from the study, “Best Practices in Talent Recruitment and Retention Must Evolve” discusses the need for the industry to “commit to thinking differently about how it attracts and retains talent at all levels – especially in the face of today’s challenging economic and political environment.”
We feel that the focus should not just center around attracting and recruiting diverse talent; the larger issue is about retaining and promoting that talent.
According to the study, 81% of respondents felt that the industry is “committed” or “somewhat committed” to attracting and retaining diverse talent. However, when asked about the success of their own organizations in this regard, 55% of respondents felt that they were only “somewhat successful.” This demonstrates a disconnect in perception.
Over the past few years, much of focus has been on DEI and hiring diverse talent. While many firms have made great strides in this area, several challenges still exist that may impede ongoing efforts to retain diverse talent, including:
Corporate Culture Remains Top-Ranked Obstacle (Source: Nicsa's DEI Perception Study)
Asset and wealth managers can implement several strategies to better retain diverse talent and foster an inclusive environment that encourages individuals from all backgrounds to thrive and advance into leadership roles, including:
1. Mentorship and Sponsorship Programs: Establish mentorship programs that pair diverse employees with experienced leaders to provide guidance, support, and advocacy. Sponsorship goes a step further by having senior leaders actively promote and champion the careers of their mentees.
2. Career Development and Advancement Pathways: Create clear career progression paths and professional development opportunities for diverse employees. This includes leadership training, skill-building workshops, and educational programs that prepare them for senior roles.
3. Bias Training and Inclusive Hiring Practices: Provide training to all employees, especially those involved in hiring and promotions, to recognize and mitigate unconscious bias. Implement structured interviews and diverse hiring panels to ensure a fair and inclusive recruitment process.
4. Inclusive Culture and Employee Resource Groups (ERGs): Foster an inclusive workplace culture where diversity is celebrated and valued. Support the formation of ERGs that provide a sense of community and belonging for underrepresented groups.
5. Flexible Work Arrangements: Offer flexible working options to accommodate different lifestyles and responsibilities, which can be particularly beneficial for attracting and retaining a diverse workforce.
6. Accountability and Transparency: Set diversity and inclusion goals and regularly report on progress. Hold leadership accountable for meeting these objectives through performance evaluations and compensation structures.
7. Networking and Community Engagement: Encourage diverse employees to engage with external professional networks and communities that can provide additional support and opportunities for growth.
8. Feedback Mechanisms: Implement regular surveys and feedback channels that allow employees to voice their experiences and suggestions for improving diversity and inclusion within the firm.
9. Diversity-Focused Recruitment: Partner with organizations and educational institutions that serve underrepresented communities to build a diverse talent pipeline.
10. Work-Life Balance and Wellness Programs: Recognize the importance of work-life balance and mental health by providing resources and programs that support employee well-being.
As the committee continues its work, the key takeaways from Nicsa’s DEI Perception Study will continue to serve as a foundation for creating and sustaining healthy talent pipelines for our industry. The Diversity Project North America aims to help its members attract and retain the best talent to enhance innovation and drive success. If you would like to learn more about getting involved in these and other industry discussions, please reach out to [email protected].
Nicsa’s Diversity Project North America is a cross-company initiative that champions DEI as a strategic business priority within the asset and wealth management industry.
Nicsa’s Diversity Project North America's Next Practices Committee is dedicated to supporting its members through best practice collaboration. In a recent meeting, the committee focused on creating healthy, thriving corporate cultures. The committee welcomed Alan Kolp, a distinguished faculty member in residence at Baldwin Wallace University and co-author of several influential works on organizational culture. Alan shared his extensive expertise on the importance of cultivating a positive work environment and led a thought-provoking roundtable discussion that explored the nuances of building and sustaining a strong organizational culture.
Culture as the Foundation of Organizational Success
The discussion touched on the critical role that culture plays in an organization. It’s the collective behaviors, values, and beliefs that define what it means to be part of the organization. Committee members were challenged to think deeply about what it means to be a “culture carrier”—someone who embodies and spreads the organization's values. Onboarding processes can be pivotal moments where new employees can experience and embrace a company culture from the outset.
Cultivating a Strong Corporate Culture
Looking Ahead: Continuing the Conversation
The Next Practices Committee left the meeting with a renewed understanding of the importance of culture in organizational success. The group shared insights and provided each other with a valuable framework for thinking about culture not just as a set of policies or values, but as a living, breathing aspect of the organization that must be actively cultivated, protected, and grown.
As the committee continues its work, these discussions will serve as a foundation for further exploration into best practices for creating and sustaining healthy corporate cultures. The Diversity Project North America aims to help its members build organizations where culture is not just an afterthought but a central element of their success. If you would like to learn more about getting involved in these and other industry discussions, please reach out to [email protected].
Nicsa’s Diversity Project North America is a cross-company initiative that champions DEI as a strategic business priority within the asset and wealth management industry.
Boston, MA – August 12, 2024 – Nicsa, a leading Association in support of the asset and wealth management industry, recognizes its Committee Chairs for the second half of its fiscal year 2025. These individuals help lead the nonprofit’s work to advance leading practices across a wide spectrum of industry business lines.
Nicsa’s committees are open to employees of member firms and comprise professionals across divisions, departments, and all levels of management. Committee engagement is focused on professional networking and collaboration centered on the latest industry trends.
A full list of Nicsa Chairs and Diversity Project North America Chairs follows:
Nicsa Executive Committee:
Scott Brady, Columbia Threadneedle Investments | Chair
Stacy Bernstein, American Century Investments | Vice Chair
Janet Bienkowski, MFS Investment Management | Content
Ryan Burns, Northern Trust | Membership
Clint Harris, Invesco | Nominating
Kevin Mahn, Hennion & Walsh | Audit
David Rosen, Morgan Stanley
John Stadtler, PwC | Treasurer
Nicsa Topic Committees:
Alternative Investments
Marty Griffin, BeaconRidge Capital Management
John Seidita, PwC
Compliance & Risk Management
Stephanie Tyler, Franklin Templeton
Data Analytics
Jason Davenport, Delta Data
Sergio Leon, Aliter Investment Services
Fund Administration
Gary Casagrande, Northern Trust
Victoria McGowan, J.P. Morgan
Fund & Investor Services
Linda Azzara, GMO, LLC
Gregory Cohen, MUFG Investor Services
International
Lesley-Anne Archibald, Baillie Gifford
Next Gen
Carl (Donnie) Aylward, MFS Investment Management
Stacy Gordon, Delta Data
Product & Distribution
Scott Brady, Columbia Threadneedle Investments
Alaina Giampapa, Natixis
Retirement
Alvin Hasegawa, Fiduciary Trust International
Brad Spolec, SS&C Technologies
SMA & Model Portfolio
Daniel Milligan, Columbia Threadneedle Investments
Patrick Mullins, Invesco
Technology & Digital Innovation
Anish Mazumdar, Aliter Investment Services
UIT
Scott Larsen, Guggenheim Investments
Matt Wolcott, Hennion & Walsh, Inc.
Unclaimed Property
Heidi Lastoria, MFS Investments
Carol Irvine, Abandoned Property Advisors, LLC.
Nicsa Event Committees:
Asset & Wealth Management Summit*
Stacy Bernstein, American Century Investments
Scott Brady, Columbia Threadneedle Investments
Clint Harris, Invesco
Dan Houlihan, STP Investment Services
Mark Lavan, Franklin Templeton Investments
Brooke Marrujo, Capital Group | American Funds
Mike Melles, FIS
Kelli O'Brien, Citi
Kirsten Pickens, FS Investments
David Rosen, Morgan Stanley
*Board strategic initiative for 2024
Strategic Leadership Forum
Mark Lavan, Franklin Templeton
Kelli O’Brien, Citi
Nicsa Advisory Committees:
Content
Janet Bienkowski, MFS Investment Management
Anne Hebard-Duduch, SS&C Technologies
Membership
Ryan Burns, Northern Trust
Industry Awards
Karen Walsh, Putnam Investor Services
Nicsa’s Diversity Project North America is an industry-wide initiative that champions DEI as a strategic business priority within the asset and wealth management industry. A full list of Nicsa’s DPNA Chairs follows:
DPNA Executive Committee:
Thomas Arnold, EY
Deirdre O’Conner, Cerberus Capital Management, L.P.
DPNA Topic Committees:
Education Engagement & Outreach
Ann Carpenter, State Street Global Advisors (SSGA)
Cecily Keller, Hartford Funds
Industry Engagement & Events
Emily Lawrence, Northern Trust
Shannon Daigh, J.P. Morgan
Metrics & Insights
Cheryl Reich, Broadridge
Deb Sealy, Aegon
Next Practices
Rosa Licea-Mailloux, MFS Investment Management
Ofelia Potter, Northern Trust
DPNA Event Committees:
Fearless Leadership Symposium
Cheryl Boyd, EY
Gary Casagrande, Northern Trust
Nicole Green, SS&C Technologies
DPNA Advisory Committees:
Rising Stars
Heather Lewis Berke, Fidelity
Victoria McGowan, J.P. Morgan
If you are interested in joining one of Nicsa’s committees, please reach out to [email protected].
About Nicsa
Nicsa is a not-for-profit trade association striving to connect all facets of the asset and wealth management industry in order to advance leading practices. For over sixty years, Nicsa has promoted a collaborative environment where members come together to help strategically address the industry’s most vital issues.
Nicsa’s Diversity Project North America champions DEI as a strategic business priority within the asset and wealth management industry and seeks to advance better business results for our member firms and positive long-term impact for the clients we all.
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