Wealth Management Conference 2009

Size: px

Start display at page:

Download "Wealth Management Conference 2009"

Scott Boyd
5 years ago
Views:

1 Surviving the Downturn: Monday, June 8, 2009 Tuesday, June 9, 2009 Calgary TELUS Convention Centre, Calgary, Alberta, Canada

KEYNOTE SPEAKERS Peter L. Bernstein, Founder, Peter L. Bernstein, Inc., New York Peter launched Peter L. Bernstein, Inc. in 1973.

Peter was the first editor of Journal of Portfolio Management in 1974 is now consulting editor of the Journal.

Peter graduated from Harvard College with a degree in economics, magna cum laude. Thomas Idzorek, CFA, VP, Research and Development, Ibbotson Associates, Chicago Thomas M.

His areas of expertise include strategic asset allocation, tactical (dynamic) asset allocation, and fund-to-funds optimization. Previously, Mr.

2 KEYNOTE SPEAKERS Peter L. Bernstein, Founder, Peter L. Bernstein, Inc., New York Peter launched Peter L. Bernstein, Inc. in He was previously CEO of a nationally-known investment counsel firm, where he personally managed billions of dollars of individual and institutional portfolios. Peter was the first editor of Journal of Portfolio Management in 1974 is now consulting editor of the Journal. He is the author of nine books in economics and finance plus countless articles in professional journals such The Harvard Business Review and the Financial Analysts Journal. Peter graduated from Harvard College with a degree in economics, magna cum laude. Thomas Idzorek, CFA, VP, Research and Development, Ibbotson Associates, Chicago Thomas M. Idzorek, CFA, is vice president of research and product development and a member of the Investment Policy Committee at Ibbotson Associates, a wholly owned subsidiary of Morningstar, Inc. His areas of expertise include strategic asset allocation, tactical (dynamic) asset allocation, and fund-to-funds optimization. Previously, Mr. Idzorek was senior quantitative researcher at Zephyr Associates. He received a bachelor s degree from Arizona State University and a master s degree in business administration from Thunderbird, the Garvin Graduate School of International Management. Frank Murtha, Managing Partner, MarketPsych LLC, New York Dr. Frank Murtha is a recognized gambling expert; his groundbreaking dissertation was the first to explore the effect of cognitive errors in gambling behavior. As a consultant, based out of New York City, Dr. Murtha has developed senior executives in leadership and pioneered a specialty in the new field of behavioral finance. Murtha co-founded the behavioral finance website Marketpsych.com. Murtha is currently on faculty at New York University. Dr. Murtha received his doctorate in Counseling Psychology from the State University of New York at Buffalo Meir Statman, Glenn Klimek Professor of Finance, Santa Clara University Meir Statman is the Glenn Klimek Professor of Finance at the Leavey School of Business, Santa Clara University. His research focuses on behavioural finance. Meir s research has been published in the Financial analysts Journal, the Journal of Portfolio Management, and many other journals. Meir is a member of the Editorial Board of the Financial Analysts Journal, and a recipient of a number of awards including two Graham and Dodd Awards of Excellence. Meir received his Ph.D. from Columbia University and his BA and MBA from the Hebrew University of Jerusalem. Jim Ware, Founder, Focus Consulting, Chicago Jim Ware is founder of Focus Consulting Group, a specialized firm dedicated to helping investment leaders understand, articulate and shape their firm s investment culture. A frequent keynote speaker, James is recognized for his insightful, inspiring and entertaining presentations. His recent books include Investment Leadership: Building a Winning Culture for Long-Term Success and High Performing Investment Teams. His educational background includes an MBA from the University of Chicago and a degree in philosophy from Williams College, where he graduated Phi Beta Kappa. Arnold Wood, President and CEO, Martingale Asset Management, Boston Arnold S. Wood is founder, president and CEO of Martingale Asset Management in Boston. A leader in the investment management profession for over two decades, Arnie is well known for his pioneering educational work. Particularly in behavioural finance and investment practices. Arnie is a trustee of the Research Foundation of CFA Institute. He has received a number of prestigious awards from the CFA Institute. Arnie is an advisor for and presenter at Harvard University s John F. Kennedy School of Government study on Behavioural Finance and Decision Making. He is a graduate of Trinity College.

This two day educational program will focus on both broad global trends and specific subjects of interest to investment professionals in the Wealth Management Industry.

3 This two day educational program will focus on both broad global trends and specific subjects of interest to investment professionals in the Wealth Management Industry. C O N F E R E N C E A G E N DA Monday, June 8, :00 am Registration and breakfast 7:45 am Opening Remarks and Introduction Craig Senyk, CFA, Conference Co-Chair 8:00 am The Investment Committee Stampede Why poor investment committee decision-making is so prevalent. Why is over-reaction to losses so influential on our decisions? How we act in the presence of others can inexplicably influence their choices. Why do we rarely avoid bubbles? How can minority opinions sway a committee? Arnold Wood, President and CEO, Martingale Asset Management, Boston 9:00 am Navigating In Troubled Waters; Charting a New Emotional Course The hidden drivers of investment decisions. How fear and greed pull us off course and what to do about it. Pulling ourselves out of emotional spirals. The brain; Re-training ourselves to form better emotional and cognitive habits. Frank Murtha, Managing Partner, MarketPsych LLC, New York 10:00 am Networking Break 10:30 am Prospects for economic growth: Implications for future policy developments The world economy is in recession (negative growth) in 2009 for the first time since World War II. What are the prospects for economic growth in the coming years? What implications does the current financial and economic crisis have for future policy developments? What will be growth opportunities in the future? Jack Mintz, Palmer Chair in Public Policy, University of Calgary The Calgary TELUS Convention Centre offers over 132,000 square feet of recently renovated combined meeting space, leading edge technology and experienced, professional staff. It is a short drive away from Canada s majestic Rocky Mountains and the city is a non-stop or one-stop flight away from every major city in the world.

4 11:30 am Purpose Driven Portfolio Construction The essential questions that need to be answered Identifying a purpose that is measurable in absolute terms Matching the portfolio to the purpose How to prevent shortfalls The three types of cash flows and liquidation values Bill Hutchison, Managing Director, Investment Counsel, Rogerscasey Canada Inc., Toronto 12:30 pm Luncheon Sponsored by Advent Software, Inc. 1:30 pm Guiding Investors Through Crisis: Perspectives from Behavioural Finance Why do clients think that diversification has failed and that market timing would succeed? How advisors can serve as financial physicians: Listening, diagnosing, educating, and prescribing. Helping clients overcome cognitive errors and emotions. Prescribing client portfolios that banish fear and keep hope alive. Meir Statman, Glenn Klimek Professor of Finance, Santa Clara University 2:30 pm The State of the Private Equity Market How the landscape of private equity has evolved and where we go from here. Does private equity continue to make sense as an asset class? The misalignment of interests with the 2 and 20 contract. How investors access the private equity market. Venture capital and how it differs from LBO and private equity. Paul Haggis, Chair, Alberta Enterprise Corporation 3:30 pm Networking Break 3:45 pm Breakout A: Global Scenarios for the Global Financial Crisis. What s Next? How will the current financial crisis affect the world geopolitical scene? What damage has this done to US leadership in the world? How will changes in major power relationships affect financial markets? Tom Collins, CEO, Geopolitics Central, Calgary Breakout B: Estate Planning Opportunities for Difficult Times Using an estate freeze to defer the recognition of future gains. What is or is not appropriate with asset protection planning. Maximizing after-tax family income through income splitting. Craig M. Jones, Q.C., Felesky Flynn LLP, Calgary 5:30 pm Cocktails and Dinner at RUSH 100, 207 9th Avenue SW Cocktail Reception Sponsored by: Dinner Sponsored by:

5 Tuesday, June 9, :00 am Breakfast 8:00 am Applying Modern Portfolio Theory to Lifetime Asset Allocations There are wide variations in the glide paths of the ever increasing number of target maturity funds. Advisors and investors are wondering which glide path is correct. How modern portfolio theory can be applied to the development of lifetime asset allocations based on the evolving economic wealth of individuals. Thomas Idzorek, CFA, VP, Research and Development, Ibbotson Associates, Chicago 9:00 am Banks, Bonds, and Credit Markets How Market Changes Impact Companies and Investors A Panel Discussion The ways that the credit crisis impacted the broad credit and bond markets. The ability of banks to adequately fund their operations. Has a full recovery yet begun? The impact as seen by both bond investors and for companies. Some of the key elements that will signal a broader recovery for credit markets, and the financial segment overall. Geoff Wilson, Managing Director, TD Asset Management Robert Follis, Managing Director, Corporate Bond Research, Scotia Capital 10:00 am Networking Break 10:30 am The Future Agenda of Investment Leadership Based on interviews with 25 investment leaders. The critical success factors for tomorrow s top performers. Rebuilding trust with all stakeholders. Creating a culture of passion. Employing the Wisdom of Crowds in investment decision making. Jim Ware, Founder, Focus Consulting, Chicago 11:30 am Future of Investment Management Robert Arnott, Chairman, Research Affiliates, Newport Beach 12:30 pm Conference Closes Boxed Lunch As a participant in the CFA Institute Approved Provider P r o g r a m, t h e Calgary CFA Society has determined that this event qualifies for credit for the C F A I n s t i t u t e C o n t i n u i n g Education Program. Eligible for 11 credit hours and 1 SER credit. Attire: Business Casual is appropriate for the conference and dinner. Due to unforeseen circumstances, there may be slight changes to the program and speakers. For the most current brochure, please visit Thank you to the committee volunteers and Co-chairs, Blaine Lennox, CFA and Craig Senyk, CFA for their commitment to the 2009 Wealth Management Conference.

Conference Sponsors We would like to thank

contributions to the Calgary CFA Society

If you wish to be a sponsor, exhibitor, or

conference, please contact Debbie Kunert at

6 Conference Sponsors We would like to thank the following sponsors for their contributions to the Calgary CFA Society 2009 Wealth Management Conference. If you wish to be a sponsor, exhibitor, or sponsored breakfast presenter at the conference, please contact Debbie Kunert at or admin@calgarycfasociety.com for a sponsorship package. GOLD SPONSOR SILVER SPONSOR COCKTAIL SPONSOR SPEAKER SPONSORS BRONZE SPONSORS MEDIA SPONSOR

7 REGISTRATION INFORMATION Payment is due at time of registration. Forms received without payment will be confirmed on a space available basis when payment is received. All fees are payable in Canadian funds. Confirmation will be ed within two weeks of receipt of your paid registration. Please register early as attendance is limited. Hotel Information: A limited number of rooms have been blocked at the Fairmont Palliser Hotel for the Calgary CFA Society until May 8, In order to receive the group rate, please refer to the CFA Society Wealth Management Conference or ID # CFAJ09. Fairmont Palliser Hotel: Conference Venue Address: 133 9th Avenue SW Calgary TELUS Convention Centre Calgary, Alberta 120 9th Avenue SE Calgary, Alberta or for reservations Cancellation Policy: A cancellation fee of $150 applies for cancellations received after May 15, Substitutions from the same company are accepted. Sharing of registrations is not permitted. Your registration fee covers: Conference materials, breakfasts, refreshment breaks, luncheon and dinner. It does not include airfare or accommodation. To register, fax this form to or to admin@calgarycfasociety.com. No telephone registrations will be accepted. Contact us: REGISTRATION FORM June 8 9, 2009, Calgary TELUS Convention Centre, Calgary, Alberta MEMUpdate [ ]Mr. [ ] Ms. First Name: Last Name: Title: Company: Address: City: Province: Postal Code: Telephone: Fax: I will / will not (please circle one) be attending the dinner at RUSH restaurant on Monday, June 8, 2009 Member ID # [ ] $550 + GST CFA Institute Members ($ total cost) [ ] $750 + GST Non CFA Institute Members ($ total cost) Total cost: $ GST # RT Payment: Include the conference fee at the time registration. [ ] Cheque enclosed, made payable to Calgary CFA Society [ ] Charge to my Visa or MasterCard number: Expiry: Name on Card: Signature: Registration deadline: May 29, 2009 Any person attending a Calgary CFA Society conference, seminar, or other program grants permission to Calgary CFA Society to use and publish his or her image or likeness in the form of photograph, video, audio, or any other recorded manner collected in connection with the program for any usual and customary purpose of Calgary CFA Society, including but not limited to advertisements for Calgary CFA Society and its programs and CFA Institute webcasts.

Wealth Management Conference 2007

Wealth Management Conference 2007 These images are provided courtesy of Calgary Economic Development Wednesday, June 27, 2007 Thursday, June 28, 2007 Calgary TELUS Convention Centre, Calgary, Alberta, Canada KEYNOTE SPEAKERS Wealth Management