An insider's view of the inaugural Icons and Innovators luncheon

Key lesson: Take risks in order to do things better.
APR 12, 2017

I was honored and grateful to attend the inaugural InvestmentNews Icons and Innovators awards luncheon on April 3 as both a participant and an honoree. I have to confess I felt like the lightweight in the room. The awards luncheon, which took place on April 3 at the Essex House in NYC, recognized financial advisers and industry professionals in two capacities. Icons include those who have contributed profoundly and consistently to the success and advancement of the financial advice profession. Innovators are those who have conceived new ideas and tools that have propelled the industry forward. (More: Meet the Icons and Innovators who have shaped and transformed the financial advice profession) The amazing award recipients included John Bogle and Charles Schwab, who each received an Icon award. Not including me, the Innovator award recipients included: Geeta Aiyer, president of Boston Common Asset Management; Jud Bergman, founder, chairman and CEO of Envestnet Inc.; Ron Carson, founder and CEO of Carson Wealth Management Group; Joe Duran, founding partner of United Capital; Ric Edelman, founder and executive chairman of Edelman Financial Services; Ken Fisher, founder and executive chairman of Fisher Investments; Sheryl Garrett, founder of Garrett Planning Network Inc.; George Kinder, founder of Kinder Institute of Life Planning; Michael Kitces, partner and director of Research at Pinnacle Advisory Group; Jeff Maggioncalda, co-founder and former CEO of Financial Engines Inc.; Joe Mansueto, founder and CEO of Morningstar Inc.; Shirl Penney, president and CEO of Dynasty Financial Partners; Wade Pfau, professor of retirement income at The American College; John Rogers, chairman and CEO of Ariel Investments; Clara Shih, CEO and founder of Hearsay Systems Inc.; Jon Stein, founder and CEO of Betterment and Mark Tibergien, CEO of Pershing Advisor Solutions. Can you believe a room filled with these industry giants? And, you're asking, what does this have to do with technology? Well, all of these people (myself included) looked at the way things were and decided they could make them better by taking a different approach. Whether you are a technology developer or a user of technology, the willingness to try a new way can make a difference between working for a living and thriving from your passion. (More: Photos from the Icons and Innovators awards luncheon) Some inspiring words of wisdom: "The challenge is not innovating. The challenge is operationalizing it." (Clara Shih) "Let's graduate from success to significance." (Shirl Penney) "Every day, you should teach a little, learn a little and do something unexpected that's nice." (John Bogle) "It's important to look for scarcity in order to find the next opportunity." (Michael Kitces) "A sustainable planet and sustainable investing is the key." (Geeta Aiyer) "Never accept things at face value. Question everything." (John Bogle) "Many innovative ideas begin with someone saying 'what if?'" (Sheryl Garrett) "Unwillingness to take risks is a problem — that and complacency." (Ric Edelman) It was an honor to be included in a group of such talented and accomplished leaders. It was also an outstanding opportunity to network with and learn from those who spoke. The common thread among all was to take risks in order to do things better. I recommend that we all take the risk and attend next year's luncheon. My bet is it will be well worth the price of admission! (More: 'Great skepticism' a primary trait for industry innovators: Bogle) Sheryl Rowling is head of rebalancing solutions at Morningstar Inc. and principal at Rowling & Associates. She considers herself a non-techie user of technology.

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