Innovation is the currency that buys you a seat at the table.
Today, the Money Management Institute (MMI) and Barron’s announced the finalists for the 2024 MMI/Barron’s Industry Awards, now in their 16th year. These awards have become the benchmark for excellence, recognizing the game-changers who are redefining the future of wealth management.
Spotlight on Innovation and Leadership
“The prestigious MMI/Barron’s Industry Awards aim to highlight the exemplary work being performed across the investment advisory landscape,” said Craig Pfeiffer, MMI President and CEO. His words encapsulate the ethos of these awards: to celebrate the innovators who are not just participating in the industry but are actively reshaping it. Jack Otter, Global Head of Wealth & Asset Management at Dow Jones, added, “Every company that submitted a nomination plays a crucial role in this ecosystem, providing tools and strategies necessary for investment advisors to secure the financial futures of households and institutions.”
The finalists, spread across 13 award categories, represent a kaleidoscope of pioneering ideas and transformative strategies. The Disruption category, for example, highlights revolutionary offerings that promise to alter the advisory landscape fundamentally. Here, BNY Mellon’s Pershing X with its Wove platform, Calamos Investments’ Structured Protection ETFs, and Franklin Templeton’s venture into Digital Assets are setting new standards for innovation.
Digital Frontiers and New Horizons
The Digital Innovation categories underscore the digital revolution within wealth management. For wealth managers, innovations like LPL Financial’s ClientWorks Rebalancer, Merrill Lynch’s Digital Presence, and Wells Fargo’s Lifesync are enhancing the advisory experience. On the asset management side, Cohen & Steers’ Real Estate Compass and Franklin Templeton’s Canvas platform are pushing the envelope in delivering tailored, high-impact solutions to investors.
Equally noteworthy are the innovations from technology and solutions providers like Adhesion Wealth Advisor Solutions’ Model Marketplace and Advisor 360°’s Advisor Oversight platform. These innovations epitomize the integration of cutting-edge technology with client-focused strategies.
Recognizing Excellence in Execution
Categories such as Wealth Manager Platform of the Year and Technology/Solutions Provider of the Year emphasize platforms and providers that deliver superior outcomes through strategic innovation. Platforms like CapIntel and Morgan Stanley Wealth Management’s Select UMA Platform showcase how technology can be leveraged to unlock business value and enhance client relationships.
A Community of Innovators
The awards also spotlight initiatives that transcend traditional business goals, focusing on social impact and community betterment. The Doing Good category celebrates firms whose initiatives are actively contributing to societal needs, demonstrating that the financial sector can be a force for positive change.
This year’s finalists, selected by the MMI Industry Awards Steering Council, were chosen for their potential to advance the industry and improve outcomes for both financial advisors and investors, MMI said. These finalists represent the best of what the investment advisory solutions industry has to offer, setting the stage for continued innovation and progress.
The winners will be announced at the 2024 MMI Annual Conference in October, where the industry will gather to celebrate these achievements.
