NIBA Winter
Conference in Southern California
January 24, 2013
I recently had the pleasure of attending the “Winter” NIBA
conference in Southern California. I genuinely struggled to type the word
“winter” in the title, as the weather greeting participants was a balmy 70
degrees. I’m sure that there was a tussle back in Chicago as to who was going
to represent the CME and NFA for this event! Complementing the SoCal weather
was the choice of venue, Flemings Prime Steakhouse and Wine Bar. Anyone that
knows the brand knows the restaurant’s service is first rate, coupled with
great food and wine. We have the CME to thank for that!
(NIBA Members attending the SoCal Winter Conference)
More impressive than the venue was the subject matter
covered. Opening remarks came from NIBA President, John Jensen. He brought up a
great point that NIBA’s role for the IB community is not just about representation
within the industry, along with ancillary benefits ranging from credit unions
to health insurance (http://www.nibabenefits.com/), but also providing an
opportunity for networking with other industry members. This really is
something that many may not think about on a day-to-day basis. As vast as the
IB community is, is as small as it is. While the thought of conferring with the
competition may seem offbeat to some, I believe the ability to meet your peers
and learn/share business models is good for the industry as a whole. The futures landscape as we knew it 15 years ago
is not the one we presently operate within today. The evolution of technology
and subsequently the evolution of futures’ products have changed the way we do
business. The introduction of new products and promising CTAs with lower entry
thresholds has opened the door to a host of new investors, of which were previously
excluded from the alternative asset space simply due to lofty entry barriers.
We can learn from and share a lot with our peers. I am always willing to
discuss portfolio construction and blends in an effort to provide greater value
to our clients. The more knowledgeable we all are, the more credible our
industry will be. The futures markets aren’t the Wild West they were once imagined
to be. Special thanks to John.
Next on the agenda, was Barbara Schmidt-Bailey representing the CME. Even though I am fortunate to know Barbara from previous events over the years, it never ceases to amaze me how accomplished she is professionally. When John introduced her and gave her background, you immediately felt the need to complete your PhD just so you could hold court at an even level. One of Barbara’s roles at the CME is in helping us, the IB community, with product knowledge and tools for educating the public. She is quick to help and readily points out that the CME offers many great pieces that can be used by the IB community in discussion with their existing and prospective client base. Wasting no time, she gave way to Bluford “Blu” Putnam, Ph.D. He is the Chief Economist and Managing Director of International Research and Product Development at the CME. His presentation, Pivot Points for 2013 in the Era of Dissonance (PDF), was one we all should have had to pay to watch. Those that took notes left with an arsenal of information to engage in any in-depth conversation a client could want. Furthermore, it provided those in attendance with a great deal of valuable information to help with investment philosophy.
(Bluford Putnam delivers his presentation, Pivot Points for 2013 in the Era of Dissonance)
Wrapping up the speaking panelists was Matthew Pendell, from
the National Futures Association. He is a Manager in the Compliance
Division. His presentation, Regulation Change in 2013: What Should You
Expect? covered many topics. The subject matter of greatest interest and that
is near and dear to not just our hearts but that of clients as well, was FCM
Regulation of Segregated Funds. In detail, he explained the new steps that the NFA
has implemented to ensure compliance of segregated fund mandates, enhanced
reporting requirements and protocol required to shift capital. The CME has an
informative piece that concisely summarizes these changes.
(SoCal speakers Matthew Pendell, Barbara Schmidt-Bailey, John Jensen & Bluford Putnam)
For those that attended, I think the overall sentiment was
that the event was a success! On behalf of all there, I would like to extend a
special thanks to John, Barbara, Blu and Matt for a job well done. I encourage
those who are contemplating attendance of future events to go. To those
wondering if membership is worthwhile, I would argue undoubtedly, yes.
Al Abaroa
Kingsview Financial
954.703.3400