Bill Hortz

A new generation of agentic AI platforms is moving the industry beyond simple automation and into a world where systems do not just surface insights - they execute work. At the forefront of this shift is Zeplyn, an AI-native workflow intelligence platform purpose-built for wealth management firms.

With Exchange-Traded Fund (ETF) launches and innovation continuing at a rapid pace, communication, understanding, and insight are paramount to successfully creating and utilizing these cutting-edge products.

The recent merger and reorganization of two microcap funds provide an interesting window into the mechanics of a unique portfolio management process and a deeper understanding of the microcap market.

[Asset and wealth managers are operating in one of the most demanding environments the financial industry has faced in decades.

Asset and wealth managers are operating in one of the most demanding environments the financial industry has faced in decades.

Below are my five top key insights and highlights that emerged at this year's T3 conference.

Take, for example, AI agents. They already do useful work, but poor inputs (e.g., messy RFP libraries, fragmented CRM notes, inconsistent client records) limit accuracy and trust. This supports the idea that advanced modern technology like AI, in its application to our industry, is only as good as the data behind it.

This perspective argues that the real damage to investment performance is not coming from traditional risk measures such as volatility or beta. It comes from belief - from the stories and biases we are buying into. Humans regularly impound assumptions, along with vague and ambiguous information, into stock prices. This leads to prices that make no sense when you look under the hood. It demonstrates how emotion and narrative can drive prices far from reality and this presents risks that investors are not compensated for.

Maximizing after-tax returns by combining superior stock selection with rigorous and active tax management, once only available to UHNW investors, has become an integrated investment option with growing accessibility to the mass investment market.

This momentum is not a temporary surge, but rather a clear reflection of a structural shift in investment product creation and adoption. ETF launches continue to accelerate, driven by investor demand for transparency, tax efficiency, low fees, and precise exposures. Both established asset management firms and new industry entrants are embracing ETFs across broad beta, thematic, active, and alternative strategies.