IMCA | Best of IMCA

Registration Fees	Before May 10, 2012	After May 10, 2012
IMCA Members	$195¹	$295	Register
First-Time Join & Go² Rate includes conference registration and one-year membership ($395)	$395	$395	Register
Click here to download a hard copy registration form. First-Time Member Join & Go rate is currently only available via mail to fax.
¹Both the registration form and payment must be postmarked by May 10, 2012, to be eligible for the early-bird rate. ²Only first-time members are eligible for the First-Time Member Join & Go rate. First-Time Member Join & Go rate is currently only available via mail or fax. Renewals and reactivations are not eligible. Subject to change without notice.

Program Highlights
Topics and speakers for this intensive day-long session include:

The United States and the Global Economy: Where Are We Going?
Paul Tiffany, PhD | Haas School of Business, University of California, Berkeley
This presentation takes a deep dive into diversification, portfolio theory, and alternative investments. Examine what defines an alternative investment after two decades of rapid industry growth, the advent of the famous endowment model of portfolio construction, and a major financial crisis. Also review practical considerations for incorporating alternative investments in portfolios; see how seemingly well-diversified portfolios suffered in the recent financial crisis and yet how portfolio theory may not have caused it; and look at methods for distinguishing among alpha, beta, and alternative beta in understanding portfolio risk and return.
Paul Tiffany, PhD, is an adjunct professor at The Wharton School, University of Pennsylvania, and the Haas School of Business of the University of California, Berkeley. He was a visiting professor at Sasin Graduate School of Business, Chulalongkorn University, Thailand (2002–2006), and is currently a visiting professor at CEIBS in Shanghai. Professor Tiffany currently heads Paul Tiffany & Associates, a multi-specialty consulting and training organization based in Santa Rosa, CA. He is also chairman of iCore, Inc., a high-tech start-up firm based in northern California that develops patented SCI network products. His most recent book, Business Plans for Dummies, co-authored with Dr. Steven Peterson, is currently in its second edition and is available in 10 languages, including Mandarin. Professor Tiffany earned an undergraduate degree from Loyola University, an MBA from Harvard University, and a PhD from the University of California, Berkeley.
When Bad Things Happen to Good Portfolios: Rethinking Risk and Diversification
Scott D. Welch, MBA, CIMA^®, Fortigent
The wealth management industry was relatively slow in adopting Harry Markowitz’s notion of optimizing the trade-off between risk and return using diversification (he published his hypothesis in 1952). Since the 1980s, modern portfolio theory (MPT) has been the overwhelmingly accepted standard for building and managing investment portfolios. However, the market events of 2008 and early 2009 certainly raised questions of whether or not MPT actually holds up in practice.
This presentation examines some of the underlying tenets of MPT that do not hold up well in reality―where experiment clearly disagrees with theory―and, by segmenting the industry responses into behavioral, quantitative, and “rethink the problem” perspectives, summarizes several of the new ways investors and advisors are thinking about risk, diversification, and intelligent portfolio construction.
Building Portfolios and Practices for High-Net-Worth (HNW) Investors
Scott D. Welch, MBA, CIMA^®, Fortigent
The wealth management business is in a constant state of highly competitive evolution and, in the current volatile market environment, gaining trust, adding value, and growing your practice is challenging, to say the least. What are the keys to building differentiated investment portfolios and running your practice efficiently and profitably? This session will offer perspectives on current best practices in delivering a successful wealth management offering, and will discuss topics including:
- Trends transforming the HNW marketplace
- Building differentiated HNW portfolios
- Developing a HNW solution: buy, build, or outsource?
- The wealth management firm of the future―it’s all about trust
Scott D. Welch, MBA, CIMA^®, is a senior managing director and member of the executive committee at Fortigent, LLC, in Rockville, MD. He is a member of the editorial advisory boards of the Journal of Wealth Management and IMCA’s Investments & Wealth Monitor, and he sits on the agenda advisory board for the ABA Wealth Management and Trust Conference. He speaks frequently about investing and wealth management, and he has authored articles that have appeared in the Journal of Wealth Management, Investment Advisor, Bloomberg Wealth Manager, ABA Trust & Investments, IMCA’s Investments & Wealth Monitor, and the Journal of Financial Service Professionals. Mr. Welch earned a BS in mathematics from the University of California Irvine and an MBA in finance from the University of Massachusetts Amherst.
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Location & Parking

The Hyatt Regency Denver Tech Center is located directly adjacent to I-25 and I-225 and is a short walk from the Light Rail system. The hotel is easily accessible from downtown Denver and Colorado Springs. The hotel is providing complimentary self-parking for IMCA attendees.

Attire

Attire for the conference is business casual.

Cancellation Policy

All cancellations for conference registration must be received in writing. For IMCA member registrations, the registration fee less a $50 cancellation fee will be refunded for cancellations postmarked or faxed by May 17, 2012. No refunds will be granted for cancellations received after May 17, 2012, or for nonattendance. Join & Go registrations will not receive a refund since the membership fee of $395 is non-refundable and the event registration is complimentary.

Continuing Education Credits

CIMA^®/CIMC^®/CPWA^® CE Credits—This event has been accepted by IMCA for up to 6* hours of IMCA-sponsored continuing education hours for the CIMA, CIMC, and CPWA designations for attending the entire event from 8:30 AM to 3:15 PM. Individuals are responsible for submitting any necessary paperwork to IMCA.
CFP^® certification—This event has been submitted to CFP Board for review. Information about approved sessions is available on the CFP Board website. Individuals are responsible for submitting any necessary paperwork and/or fees to CFP Board.
NASBA CPE Credits—IMCA is registered with the National Association of State Boards of Accountancy as a sponsor of CE on the National Registry of CPE Sponsors (ID 106054). State boards of accountancy have final authority about the acceptance of individual courses. Individuals are responsible for submitting any necessary paperwork and/or fees to their state boards. Upon request, IMCA will provide a certificate of attendance after the conference.
Other certifications/designations—IMCA does not submit programs to state insurance departments and bar associations. Individuals are responsible for submitting any necessary paperwork and/or fees to their state boards. Upon request, IMCA will provide a certificate of attendance after the conference.

*Program subject to change, which may affect the type and total number of hours delivered.

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