Despite the zoomification of professional content delivery, in-person conferences remain as must-go events for financial advisers and investment specialists. But Heathcote Investment Partners founder, Clayton Coplestone, argues real-life delegates deserve knowledge not just networking…
It must be conference season again.
My inbox is stuffed full of invitations and save-the-dates to the growing number of conferences and seminars catering to NZ financial advisers and investment professionals.
There are sound reasons for the recent increase in face-to-face gatherings in the geographically isolated and fragmented NZ industry – not least the post-Covid border-openings and renewed freedom of movement within the country.
Financial advisers and investment professionals are under constant pressure to stay abreast of the latest market trends, regulatory changes and technological advancements: nothing beats the opportunity to hear from experts first-hand and discuss these topics in person.
Such events provide opportunities for delegates to network, learn and collect their valuable ‘Continuing Education’ credits while providing vehicles for the myriad of product suppliers to spruik their wares.
At their best, real-life gatherings can deliver on these multiple agendas in ways that satisfy all parties. Heathcote, for example, ensures presentations are tailored to the needs of NZ financial advisers in our regular ‘Meet-the-Manager’ roadshows.
The balance between content and camaraderie might be easier to maintain at smaller-scale events but we should expect the same quality from larger – and more expensive – marquee industry symposiums.
Conferences can pay handsomely for the organisers if enough people can be convinced to register, sponsor and partake.
Major cities like Auckland, Wellington, and Christchurch host a plethora of events throughout the year, featuring a mix of local and (sometimes) international speakers, promising cutting-edge insights, expert opinions, and valuable networking opportunities
Yet in practice the agendas usually drag-up repetitive topics and trends, re-treaded by the same experts with diminishing returns for delegates.
Conferences are often funded, too, by sponsors with vested interests in promoting their products or services or coordinated by organisers who are looking to make a buck and/or subsidise their member’s attendance costs.
This can lead to a focus on certain topics or products that might not always align with the evolving needs of the audience.
After all the festivities are over, delegates typically struggle to recall much of substance or to act on any knowledge gained – if any.
This phenomenon raises plenty of questions about conference effectiveness, value for money as well as the impact on the NZ financial services industry.
If the content is not fresh or relevant, the time and financial investment is effectively wasted by all parties.
Organisers should actively seek out new and diverse voices in the industry, putting aside their own prejudices and philosophies to avoid content stagnation. They should also look to other jurisdictions to address emerging trends and developments in the wealth management industry to introduce delegates to new insights and relevant topics.
Of course, gathering and acting on feedback from previous events from all stakeholders can help organisers understand what worked and what didn’t, allowing them to refine their content and format.
Examples can include more interactive formats such as workshops, panel discussions or inclusive sessions that allow for real-time discussions and problem-solving.
And it’s time for conference organisers to move away from ‘pay to play’ models, and only encourage sponsorship and financial support from suppliers who stand to genuinely benefit from their contribution.
These events must stand financially their own merits with delegates choosing to invest time and money to attend due to the quality of the content as well as the networking opportunities.
There is no doubt that the proliferation of conferences in New Zealand’s wealth management industry reflects a genuine desire for continued learning and professional development.
As the industry evolves, so too must the quality of the events that support it. By embracing innovation, focusing on emerging trends, and adopting interactive formats, conference organisers can ensure that their events provide meaningful and relevant experiences for all stakeholders.
Financial advisers and investment professionals should remain discerning about their conference choices, seeking out events that offer genuine value and fresh perspectives.
In doing so, they can continue to invest wisely in their professional growth and contribute to the advancement of the industry.