Morningstar Magazine - June/July 2017 - 88

Investors

Innovation, Fads, & the Future of Investing
Investors crave simplicity.
Can fintech deliver?

Undiscovered Manager
94

Undiscovered Managers Revealed

98

This Old Housing Recovery
Sector Snapshot: Basic Materials

MORNINGSTAR CONVERSATION

Laura Lallos

Sector Rap
101

	

	
102

User	Profile

Making Their Voices Heard

For decades, technology trends have come and
gone in the financial industry, but this time,
the innovation feels different. Passive strategies,
robo-advice, and regulatory scrutiny are bringing
technological changes to how advisors
construct portfolios and manage client assets.
Some trends will turn out to be fads, but others
could permanently change the industry. For the
2017 Morningstar Investment Conference,
Tricia Rothschild, Morningstar's chief product officer,
gathered three industry leaders to discuss the
evolution of the financial-services industry and the
innovations driving change today. The discussion
proved timely for our 10th anniversary issue.
Joining Rothschild were Paolo Sironi of IBM
Watson Financial Services and author of several
books on the subject, most recently FinTech

From left, Tricia Rothschild, Paolo Sironi, Don Phillips,
and Josh Brown.

88

Morningstar June/July 2017

Innovation: From Robo-Advisors to Goal Based
Investing and Gamification; Josh Brown,
writer of the popular blog The Reformed Broker
and CEO of Ritholtz Wealth Management,
an independent practice that was an early adopter
of automation and technology tools for
advisors; and Morningstar's Don Phillips, industry
thought leader, recipient of many awards for
his contributions to the investing world, and a
columnist and editorial board member of the
magazine. Their conversation took place April 26
and has been edited for length and clarity.
Tricia Rothschild: How would you define

innovation in our industry and how can we push the
envelope forward?

Paolo Sironi: I would start with why we need
innovation in financial services. Financial
institutions can no longer make money by selling
products; the margins are getting squeezed. They
need to package these products into an
advisory mechanism. Financial advice is about trust.



Table of Contents for the Digital Edition of Morningstar Magazine - June/July 2017

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