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Morningstar® Investment Conference

 

Chicago 2018

 

June 11–13, 2018 | McCormick Place

 

Register for MIC Online

 

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Morningstar presents the latest developments on financial advice from the industry’s top minds. Discover new perspectives on the market and ideas to put into practice.

29 Years Ago

 

We hosted the first Morningstar Investment Conference in 1988 with a small group of attendees, speakers, and sessions.

Attendees

73

Speakers

18

Sessions

6

Today

 

Over the years, the conference has grown substantially in number of attendees, speakers, and sessions.

 
 

Past Speakers

 

The conference brings together some of the financial industry's top minds.

 

Keynote Speakers

 

John C. Bogle
Vanguard

Laurence D. Fink
BlackRock

Kunal Kapoor
Morningstar

Michael Lewis
Best-Selling Author

Jimmy Wales
Wikipedia

 

Main Stage Speakers

 

Josh Brown
Ritholtz Wealth Management

Sonal Desai
Templeton Global Macro

Dan Ivascyn
PIMCO

Michael Kitces
Pinnacle Advisory Group

Laura Lutton
Morningstar

Sarah Newcomb
Morningstar

Don Phillips
Morningstar

Rick Rieder
BlackRock

Tricia Rothschild
Morningstar

Paolo Sironi
IBM Watson Financial Services

Greggory Warren
Morningstar

 
 
 

Look Back at the Conference

 

 
 
 
 

8 a.m.–7:30 p.m.

Registration Open

10 a.m.–11 a.m.

The Pursuit of Sustainable Income: Navigating Dividend Strategies

Research Showcase

Michael Hodel, Morningstar / Alex Bryan, Morningstar / Travis Miller, Morningstar / Jeremy Glaser, Morningstar / Dan Lefkovitz, Morningstar

Dividend strategies have an enduring and core role in portfolio design for retirees. In this session, Morningstar.com editor Jeremy Glaser leads a panel of Morningstar experts to explore the power and perils of dividend investing. 

A Fiduciary Standard: Past, Present, and Future

Research Showcase

David Blanchett, Morningstar / Paul Ellenbogen, Morningstar / Aron Szapiro, Morningstar / Christine Benz, Morningstar

While implementation details and timelines for fiduciary regulation are being worked out in Washington, asset managers and advisors are continuing to adapt to an environment in which clients' best interests are their top priority. Morningstar experts will discuss the effects of a fiduciary standard for asset managers, wealth management firms, and investors.

 

New Fintech Technologies and Companies That Will Impact Wealth Managers

Research Showcase

Adley Bowden, PitchBook / Colin Plunkett, Morningstar / Rick Summer, Morningstar / Abby Magen, Morningstar

You have heard the buzzword "fintech" and recognize companies like Betterment, WealthSimple, and SoFi, but wonder how it could impact you and your clients. In this session, we will discuss current trends in fintech, emerging companies of note, and thoughts on how these companies are going to impact advisors. 

11 a.m.–12 p.m.

The Morningstar Analyst Rating: A Unified System for Evaluating Funds and ETFs

Research Showcase

Grant Kennaway, Morningstar / Ben Johnson, Morningstar

In November, Morningstar introduced the Morningstar Analyst Rating for exchange-traded funds to round out analyst coverage of key investing tools that advisors use in client portfolios. This session will explain the difference between the Analyst Ratings for funds and exchange-traded funds, explain how to use the ratings in strategy selection, and demonstrate how to incorporate the ratings into client communications.

 

Introduction to Behavioral Finance and Advising

Research Showcase

Ray Sin, Morningstar / Michael Leung, Morningstar

In this session, you'll gain an understanding of investor psychology biases, the dangers they pose to investors, and how you can help your clients overcome them. We'll provide you with a framework for understanding why and when these biases affect investor behavior, and what you can do about them.

 

Beyond the Fiduciary Rule: Policy Developments That Could Impact Investors and Investing

Research Showcase

Aron Szapiro, Morningstar / Jake Spiegel, Morningstar, John Rekenthaler, Morningstar

In this session, Morningstar researchers lead us through the implications of a number of policy developments and their potential impact on investors, including the implications of tax reform proposals, enlarged health savings accounts, and efforts to expand workplace retirement plan coverage to more workers and include more lifetime income options.

1 p.m.–2 p.m.

Does it Pay to Invest in Companies With Economic Moats?

Research Showcase

Moderated by Dan Lefkovitz, Morningstar / Andrew Lane, Morningstar / Bridget Weishaar, Morningstar / Michael Waterhouse, Morningstar

A focus on companies with competitive advantages, or economic moats, is a hallmark of Morningstar’s equity analysis. Moats drive long-term profitability. But moats on their own are insufficient. Valuation is key to outperforming the market as stock prices eventually converge with fair value. In this session, our analysts will reveal where in today's market investors can buy moats at a discount. 

 

New Multi-Asset Portfolio Analytics and the Latest in Target-Date Fund Research

Research Showcase

Jeff Holt, Morningstar / Nick Vassilos, Morningstar

Morningstar is committed to improving its fixed income data and analytic capabilities. Learn about upcoming improvements in cash flow, credit, and exposure analytics data. As a distinct topic, we will reveal trends in target-date funds based on our recently published research. 

 

The Latest Techniques in Behavioral Finance for Advisors

Research Showcase

Steve Wendel, Morningstar / Samantha Lamas, Morningstar

Do you want to learn practical behavioral science techniques to help your clients overcome common psychological obstacles? In this session, we'll share some of the latest research for each stage of the advising process—including marketing, onboarding, planning, and relationship maintenance. We'll also look at how each age group has different needs, and the specific tools you can use to target them. 

2 p.m.–3 p.m.

Break in Exhibit Hall

3 p.m.–3:30 p.m.

Opening Remarks with Kunal Kapoor

Kunal Kapoor, CEO, Morningstar

The financial industry is in the midst of an intense period of flux. Today’s investor has more choice than ever and, for many, that choice has created a great burden. Investors need strong stewards of their capital acting in their best interest to help secure a bright financial future for themselves and their families. Learn how our latest research and innovations are helping firms better support their clients and serve a new generation of investors.

3:30 p.m.–4:30 p.m.

Distributed Information and Markets: A Wiki Way of Thinking

Opening Keynote Speaker

Jimmy Wales, Wikipedia

Jimmy Wales will speak on a wide range of issues around the future of technology, including the benefits of a globally connected world with free access to human knowledge. He’ll also address threats to that vision, including government reach into web data in the name of national security and governments' efforts to control access to information. Wales draws on his background as a futures and options trader in Chicago and financial economist and ties it to developments in how information is transmitted in society today.

4:40 p.m.–5:30 p.m.

Industry Disruption

General Session

Moderated by Tricia Rothschild / Don Phillips, Morningstar / Josh Brown, Ritholtz Wealth Management / Paolo Sironi, IBM Watson Financial Services

For decades, trends have come and gone in the investment industry, but this feels different: The rise of passive strategies, robo-advice, and regulatory scrutiny signal a sea change in how advisors construct portfolios and manage client assets. Our panel of industry veterans will discuss which of these trends are permanent disruptions and which are passing fads

5:30 p.m.–7:30 p.m.

Opening Reception in the Exhibit Hall

7 a.m.–7 p.m.

Registration Open

7 a.m.–8 a.m.

Breakfast in the Exhibit Hall

8 a.m.–9 a.m.

Future of Financial Planning in the Digital Age

General Session

Michael Kitces, Pinnacle Advisory Group

9:10 a.m.–10 a.m.

Straight Talk About Strategic Beta

Track: Passive/Strategic Beta

Moderated by Ben Johnson / Patrick O'Shaughnessy, O'Shaughnessy Asset Management / Wes Gray, Alpha Architect

Strategic beta, or so-called "smart" beta, ETFs have been all the rage in recent years. New funds have proliferated and new inflows have been strong and steady. Our expert panel will demystify this newly popular category of investments and provide insights on how to cut through the hype.

 

Liquid Alts: The Square Peg for Your Round Portfolio

Track: Outcome-Oriented Investing

Moderated by Jason Kephart / Bob Boyda, John Hancock / Catherine LeGraw, GMO / Joel Dickson, Vanguard

When used responsibly, liquid alternatives give investors the potential to improve their portfolios’ risk-adjusted returns over the long term. This panel will address the best practices for including liquid alts in a portfolio and offer our panelists’ best ideas on which alternatives strategies are built for tomorrow’s markets

 

The Best Investments—Anywhere

Track: Active Management

Moderated by Kevin McDevitt / Noriko Chen, Capital Group / Charles Pohl, Dodge & Cox / Amit Wadhwaney, Moerus Capital Management

This panel of talented asset allocators will discuss their approaches to investing and detail how they look across asset classes, regions, sectors, and securities for the best opportunities. 

 

Pillars of a Modern Advisor: How to Achieve Scale and Prosper

Track: Practice Management

Sheryl Rowling, Rowling & Associates

Discover the easy way to achieve greater scale and profitability while serving clients’ best interests. Advisors can have a hard time managing growth and bringing on new clients. The quality of client services can decline as work overpowers their personal time. This session will demonstrate with  a few simple steps—with or without technology— how to better serve current clients and take on new ones. All while still having a personal life.

10 a.m.-11 a.m.

Break in Exhibit Hall

11 a.m.–11:50 a.m.

Fixed Income: The Achilles Heel of Indexing

Track: Passive/Strategic Beta

Moderated by Ben Johnson / Natalie Zahradnik, PIMCO / Karen Schenone, BlackRock / Gemma Wright-Casparius, Vanguard

Fixed income markets are believe by many to be the last bastion of active management. Do bond index funds stand a chance versus their actively managed peers? What does the future hold for bond indexes?

 

Income-Focused Strategies for Retirees

Track: Outcome-Oriented Investing

Moderated by Leo Acheson / Brett Sumsion, Fidelity Investments / Andrew Suzman, Capital Group / Ed Perks, Franklin Templeton Investments

With an estimated 10,000 baby boomers retiring every day, the number of Americans age 65 and older is expected to reach more than 70 million by 2030. Does it make sense to roll their assets into an income-oriented portfolio? What options exist in this space, and how are the managers navigating the volatile interest-rate landscape?

 

The Active Equity Challenge

Track: Active Management

Moderated by Katie Reichart / Clare Hart, JP Morgan / Matt Fruhan, Fidelity Investments / Mark Finn, T. Rowe Price

Most active equity fund managers have failed to beat their benchmarks after fees in recent years, but the portfolio managers on this panel have been winners over the long term. We’ll dig into their funds to discuss why they’ve been successful and why indexing provides stiff competition.

 

The Augmented Advisor: How Technology Amplifies the Significance of Financial Advice

Track: Practice Management

Bill Winterberg, FPPad.com

Startups have raised hundreds of millions of dollars under the premise of deploying algorithms and artificial intelligence to disintermediate human financial advisors. But instead, startups have pivoted to cater to the unique needs of human advisors and their clients. In this provocative session, you will learn ways to use your current technology to enhance the advice you provide and be exposed to innovations on the horizon that have the potential to amplify your relationships with clients and prospects. 

 

Incorporating Sustainable Investing Into Your Practice

Breakout

Paul Ellis, Paul Ellis Consulting / Jeffrey Gitterman, Gitterman Wealth Management / Moderated by Jon Hale, Morningstar

As trillions of assets transfer to younger investors and women over the coming years, their interest in making an impact with their investments and investing in sustainable companies will drive many of their choices. Research shows that more than 80% of millennials and 70% of women are interested in sustainability. In this session, we will discuss the benefits of incorporating sustainability into your practice with two successful financial advisors. We will also outline practical steps for portfolio construction, as well as integration of client service and marketing strategies for sustainable investment. 

12 p.m.–1:30 p.m.

Michael Lewis, author of The Undoing Project

Lunch Keynote Presentation

From Liar's Poker to The Big Short to his latest, The Undoing Project, Michael Lewis has proven himself one of America's greatest living true storytellers. In this wide-ranging discussion, he'll provide his take on the financial markets, sports, and more.

1:40 p.m.–2:40 p.m.

Value (Index) Investors Club

Track: Passive/Strategic Beta

Moderated by Alex Bryan / Ronen Israel, AQR / John West, Research Affiliates / Jared Watts, Morningstar

Value investors have been through trying times. Has value gone missing? Are there any signs that it might soon return? What is the best way for investors to harness that value factor?

 

Preparing for Inflation and Protecting Purchasing Power

Track: Outcome-Oriented Investing

Moderated by Jeff Holt / Jessica Bush, Principal Financial Group / Michael Aked, Research Affiliates / Ken Baumgartner, Wellington Management

In the wake of the financial crisis, inflation has remained well below historic norms, but this threat to investors’ purchasing power looms following years of accommodative monetary policy to stimulate growth. Come hear a panel of three multi-asset portfolio managers discuss current inflationary pressures and different methods of preparing a portfolio for inflation.

 

A Flexible Approach to Fixed Income

Track: Active Management

Moderated by Miriam Sjoblom / Bryan Whalen, TCW/Metwest / Brian Kennedy, Loomis Sayles & Co.

Years of low yields across the developed bond markets have meant challenging times for investors. Join us as we talk with three managers who venture beyond the confines of traditional bond benchmarks in their search for value. How will these approaches change if rates continue to rise?

 

Goals-Based Risk: A Better Way to Understand Clients’ Risk Preferences in the Context of Investing Well

Track: Practice Management

Ryan Murphy, Morningstar

We present a framework that emphasizes coherence between investors’ current financial situation, their long-term fiscal goals, and sensible investment strategies. Risk preferences inform part of this approach, but they are only one piece of a more complicated puzzle. The goals-based risk approach highlights the inherent trade-offs an investor faces when developing an investment strategy and helps clarify the role an advisor has in helping clients make good decisions consistent with their aspirations both in the short and long term.

2:30 p.m.–3:30 p.m.

Break in Exhibit Hall

3:30 p.m.–4:30 p.m.

Best Business Partners for the Next Decade

General Session

Laura Lutton, Morningstar / Gregg Warren, Morningstar

Amid performance, fee, and regulatory pressure, the competitive landscape for fund firms has been shifting rapidly. Join some of Morningstar's equity and fund researchers as they review which asset managers are likely to deliver the best results going forward and which have lost their edge. We'll also discuss the impact on advisors' client portfolios. 

4:40 p.m.–5:30 p.m.

"I took the road less travelled by..." Comments by John C. Bogle

General Session

John C. Bogle, Vanguard

Vanguard founder John C. Bogle will talk about the creation of the first index mutual fund and the long journey to index-fund dominance. He'll also comment on the tension between business strategy options for active fund managers and their fiduciary duty to their fund shareholders, the differences between TIFs and ETFs, and some personal reflections on his 65 years in the mutual fund industry. This session will be broadcast via a live video stream. 

5:30 p.m.–7 p.m.

Reception in Exhibit Hall

7 a.m.–12 p.m.

Registration Open

7 a.m.–8 a.m.

Breakfast in Exhibit Hall

8 a.m.–8:50 a.m.

Behavioral Coaching for Advisors

General Session

Sarah Newcomb, Morningstar

The rise of robo-advice, as well as increasing pressure from regulatory changes, has fueled a wave of change in the financial advice industry. Advisors have a growing need to prove the value they provide to clients and to develop skills that can set them apart from automated solutions and their human competition. Morningstar has responded to this need through original research and practical solutions that will prepare advisors to better deal with the “softer” side of money management: anxiety, family dynamics, and problematic financial behaviors. This talk will offer a preview of current findings and discuss how advisors can incorporate critical elements of financial psychology work into their day-to-day practice.

9 a.m.–10 a.m.

A Conversation with Larry Fink of BlackRock

Closing Keynote Presentation

Larry Fink, BlackRock

Join us for an industry-spanning discussion with the chairman and CEO of the world's largest asset manager, BlackRock. We'll get Larry Fink's views on global trends in ETFs, active management, and the cost of investing. We'll review the shifting regulatory landscape and name the places where BlackRock sees opportunity.

10 a.m.–11 a.m.

Bonds 2.0: Fixed-Income Investing for the 21st Century

General Session

Moderated by Sarah Bush, Morningstar / Sonal Desai, Franklin Templeton / Dan Ivascyn, PIMCO / Rick Rieder, BlackRock

Challenges abound in today's fixed income markets, but investors also have a growing number of tools at their disposal. Join us as three influential bond investors discuss their market outlook, where they're finding value across the global fixed-income markets, and what investment strategies offer the most promise for competing in a world of low-bond yields.

11 a.m.–11:30 a.m.

Break in Exhibit Hall

11:30 a.m.–12:30 p.m.

ETF Trading 101

Track: Passive/Strategic Beta

Anita Rausch, WisdomTree

Trading exchange-traded funds can be tricky business. This trading tutorial will cover best practices in EFT trading, equipping investors with the knowledge they need to navigate the ebb and flow of ETF liquidity.

 

Absolute Return Funds: Absolutely Fabulous or Absolute Rubbish?

Track: Outcome-Oriented Investing

Moderated by Josh Charlson / Suzanne Hutchins, Newton Investment Management / Marta Norton, Morningstar / Brian Singer, William Blair

Absolute return strategies (also known as cash-plus or target-return strategies) have long been popular with institutional investors in the United Kingdom and Europe. More recently, some of these strategies have made their way into retail U.S. liquid alternative mutual funds. In this session, we’ll speak to portfolio managers to learn how absolute return strategies are constructed, whether the return targets they promise are realistic, and how investors might look to incorporate such funds into their portfolios.

 

Uncertain Times for Munis

Track: Active Management

Moderated by Cara Esser / Sheila Amoroso, Franklin Templeton / John Miller, Nuveen / Bob DiMella, MacKay Shields

Changes in Washington and rising yields weighed on municipal bond markets in 2016. Was this a buying opportunity or just the first leg down? Three veteran fund managers weigh in on controversial areas like tobacco and Puerto Rico, as well as tips for choosing bonds among more straightforward government projects.

 

Inspiring Clients to Follow Your Best Interest Advice

Track: Practice Management

Steve Wendel, Morningstar

Even when investors ask for and get good advice from their financial advisor they struggle to follow through and apply it for their own benefit. In this discussion, you’ll hear about how behavioral science can help us understand the obstacles investors face to taking action, and how advisors can tailor interventions to overcome them.

 
 
 

When You Get Here

 

Welcome to Chicago

 

It’s Morningstar’s home and a hub for business and culture. You’ll be a quick cab ride away from the Loop, the center of the city. Spending most of the day at McCormick Place, you’re going to be right off Lake Michigan and just steps away from your hotel.

 

Where You’ll Stay

 

Unwind at the Hyatt Regency McCormick Place after a full day at the conference. You'll have access to the lakeside jogging path. And if you want to explore our eclectic neighborhoods, you’ll be steps from Metra and CTA train stops. Get a special hotel rate if you book by April 4.

 

 

 

Hyatt Regency McCormick Place

2233 South Dr. Martin Luther King Jr. Drive

Chicago, IL, 60616

 

Book Your Room

 

Morningstar does not hire or authorize anyone to contact you to book your hotel rooms at the Hyatt McCormick or Hyatt Regency for the Morningstar Investment Conference. If you are contacted by a third party to book your room at the Hyatt for the Morningstar Investment Conference, please contact: daniel.skelton@morningstar.com.

 
 

See You in the Exhibit Hall

 

Network with people from more than 100 organizations including asset management firms, fintech companies, and media groups. Morningstar experts will be on hand, too—ready to answer questions. 

 
 

Aberdeen Asset Management

Advicent

Advisor Perspectives

Agreement Express

Albridge

Alliance Bernstein

Allianz Global Investors

American Beacon Advisors

American Funds

AMG Funds

Angel Oak Capital Advisors

Appleseed Funds

Ariel Investments, LLC

AQR Capital Management

The Arbitrage Funds

Artisan Partners

The Athene Group

Azzad Funds

Baird Funds

Balter Liquid Alternatives, LLC

Baron Funds

BlackRock

Bluerock

Boston Partners

BNY Mellon

Bridgeway Funds

Broadview Advisors, LLC

Brown Advisory

Brown Brothers Harriman

Calamos Investments

Calvert Research and Management

Cambiar Investments

Capstone/Steward Funds

Carillon Tower Advisers

Causeway Capital Management, LLC

Centerstone Investors, LLC

CFA Institute

Charles Schwab

CircleBlack

Cognois Capital, LLC

Conestoga Funds

Cramer Rosenthal McGlynn, LLC

Credit Suisse Asset Management

Davis ETFs Delaware Funds by Macquarie

Diamond Hill Capital Management

Discovery Data

Dodge & Cox

Domini Impact Investments, LLC

Draft

Eaton Vance Investment Managers

Edgewood Management LLC

eMoney Advisor, LLC

Envestnet Logix

Envestnet Tamarac

Eventide Asset Management

Evermore Global Advisors, LLC

FAM Funds

Fidelity Investments

Financial Advisor Magazine Financial Planning

First Affirmative Financial Network

First Eagle Investment Management

Firsthand Technology Value Fund, Inc.

First Trust Portfolios L.P.

FMI Funds

FolioDynamix

Forester Value Fund

FPA Funds

Franklin Templeton Investments

Frost Investment Advisors, LLC

Gabelli Funds

Guggenheim Investments GuideStone Funds

Harbor Funds

Heartland Funds

Harding Loevner

Hartford Funds

Havener Capital Partners

Hotchkis & Wiley

HSBC Global Asset Management

IMCA

Impact Communications Invesco

InvestEdge

Investment News

Investor’s Business Daily

IVA Funds

Ivy Investments

Janus Capital Group

Jensen Investment Management John Hancock Investments J.P. Morgan Asset Management

KEELEY Funds

Legg Mason Global Asset Management

Leuthold Funds

Litman Gregory

Longleaf Partners

Loomis, Sayles & Company, L.P.

Mainstay Investments

Mairs & Power

Matthews Asia

MFS Investment Management

Miller / Howard Investments

Modestspark

Moerus Capital Management, LLC

Morgan Stanley Investment Management

NAREIT

Neuberger Berman

NextShares Solutions, LLC

Nuveen

Oakmark

OppenheimerFunds, Inc.

Oranj

Orion Advisor Services, LLC

O'Shaughnessy Asset Management

Osterweis Capital Management

Pacific Funds

Parnassus Investments

Pax World

Perritt Funds

PGIM Investments

PIETech, Inc.

PIMCO

Polaris Capital Management, LLC

Principal

Queens Road Funds

QuonWarrene

Redi2 Technologies, Inc.

Redtail Technology

Resource

Reverse Mortgage Funding, LLC

RIA Database

RIA in a Box

RidgeWorth Investments

RightCapital

Riskalyze

RiverNorth

RiverPark Funds

Royce & Associates

Salient

Sallie Mae

Saturna Capital

Scout Investments

SEI

SIT Mutual Funds

Smead Capital Management

Sound Shore Management, Inc.

State Street Global Advisors

SumRidge Partners

Sustainalytics

TCW

T. Rowe Price

Think Advisor

Third Avenue Management

Thompson Investment Management

Thornburg Investment Management

Tortoise

Touchstone Investments

Tweedy, Browne Company, LLC

USAA Investments

Vaneck

Vanguard

Versus Capital

Vestmark

Vestorly

Victory Capital Management

Wasatch Funds

Wealth Management

Weitz Investment Management

Wells Fargo Asset Management

Westchester Capital Management, LLC

Westcore Funds

Wildermuth Advisory, LLC

William Blair

Wintergreen

YCharts

 

Contact Us

 
 
 

Thank You to Our Sponsors

 

Be a visible part of the MIC experience by becoming a sponsor. It’s about more than attendees seeing your company’s logo—it’s an effective way to reach decision makers. 

 

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See you at the conference.

 

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