Earlier this month, the InvestorCOM team attended our strategic partner, Nitrogen’s Fearless Investing Summit (FIS). Miami’s sunshine combined with the nearly 1000 attendees made this the wealth industry event of the year.

Going on the Offense

The theme for the conference was focused on embracing change and growth. Changes in regulation, technology and investor behavior will be constant – how can the wealth profession embrace this to accelerate growth. Aaron Klein, Nitrogen’s CEO, kicked off his opening remarks with a challenge to the audience. Mr. Klein noted that these big waves of change are ‘rocking our industry’. We can either ‘hunker down, go on defense, and try to preserve the status quo. Or we can get excited about these changes happening in our world. We can figure out how to harness them to make a positive impact in our profession. We can go on OFFENSE.’
Many industry luminaries contributed to the offense theme. For example, Tricia Rothschild, Nitrogen’s board member, remarked that ‘You can’t grow what you can’t measure’. InvestorCOM’s client, Shannon Spotswood, CEO of RFG Advisory, also advised advisors to ‘think about your growth goals through this lens: Your goal, plus happiness in pursuit of that goal, minus friction and frustration.’

Partnering with InvestorCOM

Later in the session, Justin Boatman, Nitrogen’s Chief Product Officer, shared the many innovations, starting with the Nitrogen’s strategic partnership with InvestorCOM RolloverAnalyzer. Justin shared that InvestorCOM integration, firms of all sizes can benefit from the seamless integration of compliance proposal workflows ensuring that rollover business is compliant and well-documented. Firms using InvestorCOM have 2.5x’d their rollover business, and are now doing so using Nitrogen’s industry leading proposal engine.

Compliance into Growth

Nitrogen attendees also received guide for embracing regulations to foster growth. Here are the top three call-outs that the guide outlined for ‘turning compliance into a growth tool’:

1. Make sure you understand your responsibilities and obligations under the law and ensure that your firm’s compliance practices are in line with legal requirements.
2. Continually monitor compliance performance to ensure that your firm is meeting compliance standards and regulations. This includes conducting regular audits and reviews, as well as tracking compliance data such as compliance reports, risk assessments, and corrective action plans.
3. Keep compliance records: Properly documenting compliance activities and processes is essential for compliance management. Document fiduciary care across your firm and leave an audit trail.

The 2023 Fearless Investing Summit was truly exceptional. A real opportunity to learn from peers and embrace the changing investing and regulatory environment boldly. As wealth management continues to shift, the Summit underscored the importance of being together and embracing innovation to thrive and grow.