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FinTech Four-University Rotating FinTech Conference: Wealth Management Systems for Individual Investors 26 April, 2017 - New York, United States

Four-University Rotating FinTech Conference

In the context of the fourth revolution, the digital revolution, which is likely to have a dramatic impact on the investment industry, four prominent academic institutions renowned for the quality and relevant of their educational and research programmes in finance and technology – EDHEC-Risk Institute, KAIST, Princeton and Tsinghua Universities – are partnering for the first time. Together, they will host an international series of rotational conferences on financial technologies and offer a forum that will facilitate discussion among all interested parties (academics, practitioners and regulators) around the world.

The conferences will take place annually, starting on 26 April 2017 with the Four-University Rotating FinTech Conference: Wealth Management Systems for Individual Investors, which will take place on Princeton Campus, and jointly organised by EDHEC-Risk Institute and Princeton University ORFE department.

Leading experts from the US, Asia and Europe will be featured at the conference, including, Andrew Yao (Turing Award recipient and founder of IIIS FinTech Center at Tsinghua University), Woo Chang Kim (Associate Professor at KAIST), Lionel Martellini (Director of EDHEC-Risk Institute), and John Mulvey (Professor and founding member of the Bendheim Center for Finance at Princeton University).

Program - 26 April, 2017

Morning Sessions (9:00am-12:45pm)
  • 9:00am-9:15am: Opening Address
    John Mulvey, Professor of Operations Research and Financial Engineering, ORFE Department, Princeton University
    Lionel Martellini, Professor of Finance, EDHEC Business School, and Director, EDHEC-Risk Institute

  • 9:15am-10:15am: Mass-Customisation of Goal-Based Investment Solutions: The New Frontier in Digital Wealth Management Services
    Lionel Martellini, Professor of Finance, EDHEC Business School, and Director, EDHEC-Risk Institute
    As a result of a massive shift of retirement risks on individuals, the investment management industry is currently facing an historical responsibility in terms of the need to provide households with suitable retirement solutions. Target date funds, annuities, variable annuities and other existing retirement products, however, suffer from a number of shortcomings that make them ill-suited for investors saving for retirement in the accumulation phase of their life-cycle. In this presentation, we shall describe how dynamic asset pricing theory and financial engineering can be used to design scalable mass-customized forms of retirement solutions that can address in a relatively parsimonious manner the specific retirement needs and constraints of a large number of individuals. We shall also discuss how digital wealth management services are ideally suited to allow for a meaningful goal-based dialogue with individual investors, a dialogue that is a pre-requisite for the production and digital distribution of mass-customized investment solutions that can effectively meet their retirement goals and beyond.

  • 10:15am-11:15am: Goal-Based Investment via Multi-Stage Stochastic Goal Programming for Robo-Advisor Services
    Woo Chang Kim, Associate Professor, Industrial and Systems Engineering Department, and Head, KAIST Center for Wealth Management Technologies, Korea
    Advanced Institute of Science and Technology (KAIST)

    11:15am-11:45am: Morning Break

  • 11:45am-12:45pm: Applying machine learning concepts for asset allocation and ALM
    John Mulvey, Professor of Operations Research and Financial Engineering, ORFE Department, Princeton University
    Over the past decade, large institutional investors have shifted capital to alternative asset categories (private equity, real assets, hedge funds and so on), led by leading U.S. university endowments. We discuss the impact of these trends on the practice of asset allocation and ALM. Alternative assets are more difficult to evaluate due to the blending of multiple risk factors. Machine learning approaches can assist with several critical tasks: 1) identifying economic regimes, 2) estimating the underlying factors and the factor loadings in a robust manner, and 3) setting capital market assumptions. Each of these topics will be discussed with reference to robo-advisor modeling systems.

  • 12:45pm-2:00pm: Luncheon talk: Big Data - Yesterday, Today and Tomorrow
    John Mashey, Consultant, Techviser
    The phrase “Big Data” was introduced in the early 1990s (by the speaker), but the general computing problem has been given many names, starting as early as 1890.
    In every era of computing, computing hardware has grown in performance and capacity, often needing new software to employ it well. As a result, audiences for Big Data applications have grown, enabling even small organizations to tackle problems that were beyond even large companies and governments just a few decades ago. Lessons can be learned from its history and current status, hopefully to offer some insights about its future prospects and plausible new applications.
Afternoon Sessions (2:00pm-5:00pm)
  • 2:00pm-3:00pm: FinTech: Drawing Strengths from Computing Theories
    Andrew Yao, Professor and Dean of Institute for Interdisciplinary Information Sciences (IIIS), Tsinghua University

    3:00pm-3:30pm: Afternoon Break

  • 3:00pm-4:15pm: Savings and Investing to Achieve Retirement Goals: an Update Given Current Market Assumptions
    Reading of exclusive John C. Bogle's report, Founder of The Vanguard Group and President of the Bogle Financial Markets Research Center with comments from roundtable's panelists

  • 4:15pm-5:30pm: Roundtable The Rise of RoboAdvisors: A Threat or an Opportunity for the Wealth Management Industry?
    Moderator: Wall Street Journal (TBC)
    Thomas Bauerfeind, Managing Director, Protinus
    Anil Suri, Head of Portfolio Analytics & Innovation Development Center, Merrill Lynch Wealth Management
    Changle Lin, Assistant Professor, Institute for Interdisciplinary Information Sciences (IIIS), Tsinghua University
    Pierre Laroche, Vice President – Business Strategy, Wealth Management, National Bank of Canada
    Lisa Huang, Director of Quantitative Investing, Betterment
    Arthur Berd, Founder and CEO, General Quantitative
    Ashish Gupta, VP, Model Risk Management, E*TRADE Financial Corp
    Alan Qi, Chief Data Scientist, Ant Financial

    5:30pm-6:30pm: Drinks Reception
Speakers' biographies

Related Event - 27 April, 2017

Those who are interested and have registered for the Fintech conference on 26 April will have the opportunity to stay at the Princeton Campus on 27 April for a related event, dedicated to exclusive in-depth tutorial classes and demonstrations (on machine learning in finance, goal-based investing, digital wealth systems and more). Please consult the tutorial classes and demonstrations program for 27 April:

Morning Demonstrations (9:00am-12:00pm)
  • 9:00am-10:30am: The Investment solution game:
    Demo of EDHEC-Risk digital tools for the design and
    production of improved forms of wealth and income
    goal based investment solutions

    Lionel Martellini, Professor of Finance, EDHEC Business School, and Director, EDHEC-Risk Institute

  • 9:00am-10:30am: Scalable privacy-preserving computation for big data
    Wei Xu, Assistant Professor and Assistant Dean, Institute for Interdisciplinary Information Sciences (IIIS), Tsinghua University

  • 10:30am-12:00pm: Demo of WealthBalancer System
    Russ Hovanec, SVP Business Development, Northfield Information Services

  • 10:30am-12:00pm: Applying Investment Algorithms and Optimization - Robo and Database Examples
    Thomas Bauerfeind, Managing Director and Founder, PROTINUS Consulting
    Robert Härtl, Consultant, PROTINUS Consulting

    12:00pm-1:30pm: Lunch
Afternoon Tutorials (1:30pm-4:15pm)
  • 1:30pm-2:45pm: The Evolution of Asset Classes: Lessons from University Endowments
    • Survey reveals wide disparity on asset categories for large U.S. Endowments
    • Where to find international best practice
    • How to apply machine learning concepts to asset allocation
    • Can institutional investors increase the probability of survival and achieving their goals over long-time periods?
    John Mulvey, Professor of Operations Research and Financial Engineering, ORFE Department, Princeton University

  • 1:30pm-2:45pm: Goal-based investing: General principles and applications in retail and private wealth management
    Lionel Martellini, Professor of Finance, EDHEC Business School, and Director, EDHEC-Risk Institute

  • 3:00pm-4:15pm: AI at Ant Financial
    Alan Qi, Chief Data Scientist, Ant Financial
    Mengdi Wang, Assistant Professor ORFE Department, Princeton University

  • 3:00pm-4:15pm: Robust Portfolio Models
    Woo Chang Kim, Associate Professor, Industrial and Systems Engineering Department, and Head, KAIST Center for Wealth Management Technologies, Korea Advanced Institute of Science and Technology (KAIST)
    Jang Ho Kim, Assistant Professor, IMSE, Kyung Hee University, and Senior Researcher, AIST Center for Wealth Management Technologies, Korea Advanced Institute of Science and Technology (KAIST)
Registrations for the conference are limited to 100 seats (40 seats for the tutorial classes). To book your seat, please visit the dedicated registration website. Should you need any help with your registration, please contact Maud Gauchon at maud.gauchon@edhec-risk.com or on +33 493 187 887.

Related Event - 28 April, 2017

Participants will also have the opportunity to attend another related event on 28 April, organised by Princeton University, which will focus on the business and regulatory implications brought about by the Fintech revolution. Please visit the dedicated website to consult the program and register for the event on 28 April.

Fees & Registration

Registration fee April 26 Wealth Management Systems for Individual Investors Conference: USD 150.00.
Registration fee April 27 Tutorial Classes and Demonstrations: USD 100.00.

To register, please visit https://www.regonline.co.uk/EDHECRiskPrinceton2017 before April 10, 2017.

The registration fee includes a buffet lunch, refreshments and conference documentation. Delegates may be refused admission if payment is not received prior to the conference. Accommodation is not included.

Conference documentation designed by EDHEC-Risk Institute and Princeton University will be made available online to all delegates. EDHEC-Risk Institute and Princeton University reserves the right to alter the program without notice.

Cancellation Policy

Given the moderate conference fee, we do not accept cancellations; invoiced sums will remain payable in full. If a registered delegate is unable to attend, a substitute delegate from the same organization is welcome at no extra charge.

Billing and payment

The fee is billed following registration and must be settled before the conference begins. Payment can be made by credit card.

Official Sponsors

ALIBABA GROUP'S MISSION IS TO MAKE IT EASY TO DO BUSINESS ANYWHERE. Our businesses are comprised of core commerce, cloud computing, digital media and entertainment, innovation initiatives and others. Through investee affiliates, we also participate in the logistics and local services sectors.

Ant Financial Services Group was officially established in October 2014 and originated from Alipay which is the world's leading third-party payment platform founded in 2004, Ant Financial is dedicated to creating an open ecosystem, enabling financial institutions and partners to make rapid progress towards “internet plus” goals through its “Internet Booster Plan”, and providing inclusive financial services to small and micro enterprises and individual consumers.

Ant Financial subsidiaries and affiliates include Alipay, Ant Fortune, Ant Financial Cloud, MYbank and Zhima Credit, an independent third-party credit scoring agency. Ant Financial’s invested companies also work with these businesses to foster an open ecosystem.

Established in 1998, Samsung Asset Management (“SAM” or the “Company”) is Korea’s leading investment management company, providing investment trust & mutual fund management, advisory and related services, with over US$177.6 billion* in asset under management.

Through its headquarter in Seoul as well as subsidiaries in Hong Kong, New York, London and Beijing, the Company provides both domestic and overseas investors with high-quality investment products and services based on professional and rigorous investment research.

As a full service investment manager, SAM offers investment advisory and management services in all segments from equities, fixed income to alternative assets. It is particularly strong in ETFs, Fixed Income and Hedge Funds and leads the domestic market in their respective fields. Especially in ETF, SAM has maintained its unmatched market dominance with over 50% of the domestic market.

In January 2017, the Company spun-off its active Investment and hedge-fund divisions into separate subsidiaries Samsung Active Asset Management and Samsung Hedge Asset Management, respectively, with views to better serve its clients by enhancing asset management efficiency and specialties.

The company is an affiliate of the Samsung Group.

*Combined AUM of Samsung Asset Management, Samsung Active Asset Management and Samsung Hedge Asset Management. (As of Jan 2017)

Endorsing Partners

The IAQF (formerly the IAFE) is the not-for-profit, professional society dedicated to fostering the profession of quantitative finance by providing platforms to discuss cutting-edge and pivotal issues in the field. Founded in 1992, the IAQF is composed of individual academics and practitioners from banks, broker dealers, hedge funds, pension funds, asset management firms, technology firms, regulatory bodies, accounting, consulting and law firms, and universities across the globe.

Through frank discussions of current policy issues, hosting programs to educate the financial community and recognizing the outstanding achievements in the field, the IAQF acts as a beacon for the development of quantitative finance.

Throughout its history, the IAQF’s pre-eminent leadership has positioned it to respond with savvy to the evolving needs of the financial engineering community. The IAQF´s programs, from our area-specific committees to our evening forums to the Financial Engineer of the Year Award, are designed to provide our membership with uniquely valuable activities to enhance their work in the field and opportunities to network and socialize with colleagues.

For more information about the IAQF, please visit www.iaqf.org.

The Retirement Income Industry Association® (RIIA®) is a not-for-profit industry association that was started in 2005 and launched publicly in February 2006 to discover, validate and teach the new realities of retirement and to do so from the perspective of “The View Across the Silos℠”, with the goal of achieving better retirement outcomes. RIIA has developed the retirement body of knowledge that supports its professional designation: the Retirement Management Analyst® (RMA®). RIIA organizes conferences, professional education for RMAs, publishes a peer-reviewed journal (Retirement Management Journal®), offers twice-monthly retirement-focused webinars through its Virtual Learning Center, manages an 8,000 person strong LinkedIn discussion group, provides research and other services to the industry and its clients. More information about RIIA can be founded at www.riia-usa.org.

Event Details
  When   Between 26/04/2017 08:30 AM and 26/04/2017 06:00 PM
Where   School of Engineering and Applied Science, Princeton University Friend Center, corner of Olden & William Streets, Princeton, NJ 08544, United States
Contact Details
  Name   Maud Gauchon
E-mail   maud.gauchon@edhec-risk.com
Phone   +33 493 187 887
  Conference program 26 April, 2017
  Tutorial classes and demonstrations program, 27 April, 2017