Recently, a cross-section of five senior leaders at FCA Corp and our Commonwealth Funds conducted a due diligence and learning journey to Dallas, Texas for the Ultimus Fund Solutions 2026 Client Summit – hosted by our fund administrator and investment operations strategic partner.
The Ultimus Client Summit provided an informative industry event designed to offer an insightful update on the State of the Asset Management Industry for their asset manager and RIA clients. The Summit’s carefully crafted agenda addressed major industry issues, challenges, and opportunities by inviting financial industry experts to share insights and perspectives, along with numerous breakout sessions to allow for a substantial sharing of ideas, experiences, best practices, and exploring innovative strategies.
It is interesting to note that each representative of our group is a trained attorney and CPA, which helped us extract the most important and practical information discussed at the Summit. It was a considerable time investment that demonstrates FCA’s commitment to continuous education and staying ahead of financial industry trends.
Photo (left to right): John Akard Jr., Commonwealth Fund Trustee; Anthony Box Jr., Commonwealth Fund Trustee; Christina Doherty, FCA Corp Vice President and Director of Financial Planning; William LeVay, FCA Corp Chief Compliance Officer; Robert Scharar, FCA Corp Founder and CEO.
While the conference covered a great number of asset management industry topics, we were particularly focused on the shared knowledge on AI usage and trends, not only for our internal operations and the evolution of information management, but also on how AI could improve our communications and client services.
A key goal was to learn more from technology experts there about artificial intelligence (AI) and cybersecurity systems. One, how do we make sure that we are protecting our clients’ data? Two, how can we make our firm’s operations and workflows more efficient so we can deliver more value to our clients? Three, how does all this emerging technology help us improve our knowledge bases in terms of our day-to-day servicing of our clients, whether that be in portfolio decisions or communication with clients?
A key learning we took away from the Summit was that AI is a tool to help process data and make decisions, but it still requires human direction, data governance, and a strategic understanding of the ultimate goals to direct it effectively.
There was also an interesting and revealing Washington update that revolved around three key areas: tokenization (the use of digital platforms for investing), the use of Artificial Intelligence (AI) in the industry, and the Department of Labor’s proposed rule on alternative investments in 401(k) plans. Speakers explored the implications of tokenization – creating a secure digital representation for sensitive data or real-world assets – for asset distribution, investor experience, and regulatory frameworks. They delved into the increasing adoption of AI by investment advisors, the regulatory challenges it presents, and the potential for AI to transform prospectuses and investor interactions. The discussion also touched upon the Department of Labor’s efforts to allow alternative investments in 401(k)s, with skepticism surrounding its clarity for litigation avoidance, and the broader impact of regulatory changes and enforcement on the industry. A key consensus was that the industry will be vastly different from what it is today in five years – not 10 or 15 years.
Of particular value was a two-part interactive breakout session and engaging tabletop exercise simulating a real-world cyber incident. Attendees were asked to openly participate and consider “What would you do?” The panel walked through initial responses and key decision points in managing a cyber crisis and demonstrated effective response strategies. Attendees gained deeper insights into mitigating risks, improving preparedness, and safeguarding organizational integrity during a cyber-attack.
In the midst of all this information, our contingent was focused and purposeful in collecting ideas, recommendations, and resources in a forward-thinking way that can help us live up to and apply to our motto that “every portfolio has a face”. It is clear that staying on top of industry trends with technology and new approaches, as the transformation of the Future with AI occurs, is the key to maintaining our firm’s core values and meeting our clients’ personalized needs. It underscores our firm’s commitment to people.
