Home Financial News Hip-hop stars and monetary luminaries: Ritholtz Wealth Administration redesigns the funding convention

Hip-hop stars and monetary luminaries: Ritholtz Wealth Administration redesigns the funding convention


Huntington Seashore, California

Over 2,500 buyers and monetary advisors have descended on Huntington Seashore, California — a.okay.a. Surf Metropolis USA —for a monetary convention. 

A monetary convention on a seashore? In Huntington Seashore, dwelling to 9 miles of shoreline and the world heart of seashore volleyball

Yep.  And I imply, it’s on the seashore

And who’re attendees coming to see? They’re coming to see huge stars. 

They’re coming to see Methodology Man & Redman

Wait, who? They’re coming to see hip-hop legends Methodology Man (Wu-Tang Clan) & Redman (Def Squad), who will carry out Tuesday evening. 

They are not the one stars. There can be monetary luminaries as properly. Jeremy Siegel from Wharton/WisdomTree. Jeff Kleintop from Charles Schwab. Emily Roland from John Hancock. Cliff Asness from AQR. Jeff Gundlach from DoubleLine. ETF and commodity maven Jan van Eck. 

However that is a type of conferences the place the social interplay is as vital because the content material. 

Reinventing the monetary convention 

Welcome to FutureProof, billed as “the biggest gathering of top-tier wealth administration professionals, CEOs, CTOs, COOs, and fast-growing monetary advisors.” 

It is the brainchild of Barry Ritholtz, co-founder, chairman, and chief funding officer of Ritholtz Wealth Administration, and CEO Josh Brown. 

“Popping out of the pandemic, it was apparent to us that the standard monetary convention was previous its sell-by date,” Ritholtz informed me. “Everyone was tired of lectures and tedious panels forecasting the long run in big windowless convention facilities. As a substitute, we imagined what it could be like if occasions had been extra social and interactive and helpful and (dare I say) enjoyable! That was how FutureProof took place.” 

Yoga?  It is so 2008 besides… 

These of you accustomed to going to conferences with a Yoga class at 5:45 a.m. on the agenda (who goes to these issues?), put together for the New Hipness. 

Straight Yoga? It is so 2008. Oh certain, there is a yoga class, however you will have a particular teacher. You will have: 

Seaside Yoga: The Path to Mindfulness with a Goldman Sachs Teacher. Severely? Goldman Sachs will educate me how one can do yoga? What’s subsequent? Acupuncture with Morgan Stanley? Chiropractic with Wells Fargo? Therapeutic massage remedy with JP Morgan? 

Maintain dancing, you fools 

Neglect yoga. There is a concerted effort to maintain everybody dancing and swimming, beginning with the FutureProof Kickoff Get together (“loosen up, unwind and join”) and persevering with with: 

Well being is Wealth: Browsing.  “We invite you to hitch us and embrace the fun of studying to surf!” 

Dance Tradition: An Interactive Session.  “Immerse your self within the rhythm, actions, and wealthy historical past of Salsa dancing!” 

OK that is an enchancment, however I feel I might fairly go to: 

Battle of the Buds: Wine vs. Craft Beer.  “Interact in a full of life and interactive debate as you discover the distinctive traits, taste profiles and meals pairings of each wine and craft beer.” 

Now I am beginning to get . I will need to squeeze that in between: 

Mastering Pizza Dough: Strategies for any Residence Pizza Maker.  “Study the secrets and techniques to attaining the perfect texture, taste, and elasticity as you discover totally different kneading, proofing and shaping methods.” 

Let’s Roll: The Artwork of Sushi Making. “This interactive session affords a novel alternative to unleash your creativity and refine your knife expertise.”  Refine your knife expertise?  OK…is perhaps safer to only go to Mastering the Grill:  Barbecue Strategies. 

Oh yeah. The monetary content material

Final yr’s convention attracted 2,000 attendees, about half principally younger RIAs (Registered Funding Advisors), a number of hundred lively dealer sorts, ETF sponsors and a smattering of distributors. 

Not surprisingly, a lot of the content material is geared towards RIAs, with subjects like, “The Private Model Blueprint: 5 Straightforward Steps to Appeal to Excessive-Worth Purchasers in 2023.” 

For buyers, there’s the ever present tech bull Dan Ives from Wedbush, with “5 Tech Predictions for 2024.” 

DoubleLine’s Jeff Gundlach will return once more this yr, and can converse with my CNBC colleague Scott Wapner on Halftime Report on Tuesday. 

I’ll average a panel on “World Macro Predictions” with Professor Siegel, Jeff Kleintop and Emily Roland. 

Morningstar may also be out in power, with stalwarts Christine Benz, Jeffrey Ptak, Ben Johnson and PitchBook’s Nizar Tarhuni speaking about the whole lot from retirement to 401(okay) planning to the problem of market timing to personal fairness investing. 

Ritholtz Wealth Administration’s bloggers and podcasters Michael Batnick and Ben Carlson may also dispense recommendation. 

However even amidst this ocean of content material over 4 days, the emphasis remains to be on private interplay. There’s quite a few “networking dinners” which, if they’re something like final yr’s, are big events for younger RIAs and buyers to get collectively and socialize. 

And that’s the place a lot of the actual motion occurs. Final yr I met a 35-year outdated RIA at one in every of these events on the seashore on a Monday evening. He had flown in along with his group the day earlier than. 

“I introduced all seven members of my group,” he informed me. “It is a team-building factor. I will see a bunch of the audio system, however principally I am right here to fulfill different individuals who do what I do.” 

And that appears to be the theme:  “Assembly different individuals who do what I do.” RIAs. Younger buyers. Monetary stars. Bloggers. ETF sponsors. Hip-hop stars. 

It is a unusual brew, however exhilarating.  

Who is aware of what might occur? Possibly Methodology Man will announce Wu-Tang Clan is happening tour and is launching an ETF.  

Hey, a typical convention it isn’t.

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