Page 12 - Investment Advisor September 2022

EDITOR’S NOTE

By Janet Levaux

Time to Shine

An evolution of e’re proud to highlight the LUMINARIES Class of 2022 Finalists in
Diversity, Equity & Inclusion and in Thought Leadership in this month’s
Investment Advisors’ W cover story. The LUMINARIES Finalists in Community Impact and
Broker-Dealers of Executive Leadership will be featured in our November issue.
An evolution of Investment Advisors’ Broker-Dealers of the Year awards, the
the Year awards, LUMINARIES recognition program is now in its second year. It aims to showcase
the LUMINARIES how top-performing industry participants — both firms and individuals — produce
recognition program meaningful results through efforts that matter most to advisors. The 2022 finalists
have been reviewed by our esteemed judges, and the select group of winners will be
is now in its second announced at a special event set for Nov. 17 in New York.
Also in this month’s issue, industry consultant and The Fast Track columnist Angie
year. It aims to Herbers describes how a recent conversation made her “think deeper about the suc-
showcase how top- cessful leaders [she’s] had the privilege of working with over the years.” Overall, “One
performing industry area that sets these leaders apart is their ability to evolve, change and be flexible in
their employee management approach.
firms and individuals “Leaders of these firms recognize changing trends and, rather than fight them,
produce meaningful seek to harness them to strengthen their businesses,” Herbers explained. In her
piece, she examines five trends that advisory firms need to grasp to best manage their
results through firms. “The pandemic has changed the way firms must look at efficiency, communi-
efforts that matter cation and organization, and reskilling training programs,” she noted.
In her latest The Playing Field column, Washington Bureau Chief Melanie
most to advisors. Waddell delves into the Securities and Exchange Commission’s latest guidance,
which warns firms that identifying and addressing conflicts under Regulation Best
Interest and the Advisers Act fiduciary standard “should not be merely a ‘check-
the-box exercise,’ but a robust, ongoing process that is tailored to each conflict.”
Plus, SEC staff points out that it’s vital for firms and their financial professionals to
“review their business models and relationships with investors to address conflicts
of interest specific to them.”
Finally, in his latest Industry Insights piece, consultant and CFP Tim Welsh
explains what’s behind Canadian financial technology (or fintech) firms’ interest in
the U.S. advisory space and broader wealth management market: Due to the domi-
nance of several large industry players in that country, Canada’s “disenfranchised
talent looks elsewhere to flourish and immediately turns its eyes south, where it sees
a diverse market in which the only large, entrenched financial institutions in the
independent space are the big custodians.”

GROUP EDITOR-IN-CHIEF

8 INVESTMENT ADVISOR SEPTEMBER 2022 | ThinkAdvisor.com