Alain Desbiens, Director, BMO ETFs, is passionate and emphatic when it comes to the needs of advisors, especially when you consider the rapid growth in the number of, and variety of offerings coming to the ETF (Exchange Traded Fund) ecosystem, and of advisors and PMs being able to sustain the requirements of CRM2.
Our conversation with Alain Desbiens took place at the inaugural Inside ETFs Conference in Montreal.
"This is the future of the ETF business. We need to build more robust tools, more robust online tools, we need to explain them, it needs to be easy for the PM to use it, and to explain it to their clients. This is, I think, the future of the industry," says Alain Desbiens, Director, BMO ETFs.
"On both the methodologies, what's inside the ETF, how can you use it portfolio construction? And, it [all] needs to make sense, you need to be able to download it, to send it to the investors, to send it to your compliance department. This is a big thing," says Desbiens. "
"Compliance is asking a lot of questions around methodologies, around asset allocation, around "Why did you buy that solution?"
Desbiens also gets into CRM3, which centres on the question "Are you doing the best that you can do for your clients?", and "Did you buy something that was in my best interests, or did you buy it for you?"
In our conversation, we also got into the topic of marketing, of advisors widening the scope of their marketing, of making the effort to establish deeper links to their clients' families, their children (i.e. the next generation), of how to do that.
If you're an advisor, or PM, this conversation with Alain Desbiens is must-see.
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