[So much debate and energy are being expended by financial leaders on AI’s trajectory and real-world applications, along with the potential risks and major benefits. Unfortunately, it has proven to be a difficult process for many financial firms to determine and implement definitive AI applications into their firms. A dizzying, ever-changing array of AI options and use cases have shown up in discussions across the full range of a firm’s operating environment and critical functions – data, workflows, sales/distribution, marketing, decision-making, business strategies, and client engagement.

One of the biggest challenges is learning how to best grapple with this rapidly accelerating technological environment. How do you strategically think about, discern, choose, and introduce AI into your firm? A well-defined strategy of action at minimum seems to be needed to guide the effort by providing some roadmap or pathway to clarity. The question is how do you develop a strategy for your firm to be able to efficiently navigate AI and other rapid technological shifts that will continue to be coming our way?

To help us answer that million-dollar question, we reached out to our long-standing innovation colleague Lynda Koster, co-Founder and Managing Partner of Growthential – a unique innovation-focused business and marketing growth consultancy, with financial services being a big focus. The firm has bundled many services into their AI Strategic Suite – a modular consulting service designed to help firms with strategic planning, risk mitigation, and change management by meeting them wherever they are in their AI journey. Their combined “strategy-first” and active experimentation approach to AI adoption is crucial to avoid the common pitfalls of previous technology waves which has often led to failed implementations and wasted resources.]

Hortz: Why was one of your company’s first actions in response to the launch of ChatGPT to immediately form an AI incubator and governance committee?

Koster: There were two big drivers along with one big reinforcement. First, having lived through previous technology booms (and hype cycles), we recognized immediately that the launch of ChatGPT marked a pivotal moment. In past waves, like the MarTech explosion, tools grew from 150 in 2011 to well over 15,000 today based on Scott Brinker’s MarTech landscape reporting. Especially early on, many organizations jumped into a “tool-first” reaction without a strategy, governance, or cross-functional alignment. Many times, I would receive calls from leaders under pressure along the lines of: “We bought this tool and need to launch in two weeks, but it’s not as easy as we thought it would be.” These were not failures of intent, but of approach. Quick, “tool-first” decisions often led to costly rip-and-replace cycles, longer integration timelines, and disappointing ROI. What those experiences taught me is that success requires starting with people, workflows, and governance; not with technology alone.

Second, I have also always worked at data-driven companies and in data-driven roles, so it was clear from the start what this level of open access to AI would mean. Unlike previous waves introduced through IT or business units, ChapGPT was released to the masses, followed by additional entrants like Bard, Claude, and Llama, before even their creators fully understood its behaviors (and still don’t). That kind of scale, speed, and uncertainty demanded a more intentional response.

That is why one of our first actions was to form an AI incubator and governance committee. We formed it early, not because clients were ready that day, but because we wanted to be prepared when they were. It allowed us to learn, experiment, develop emerging best practices responsibly, and establish guardrails for safe use…all with the goal of helping clients build readiness while avoiding the pitfalls of uncoordinated adoption.

The big reinforcement came when I listened to Sam Altman testify before the Senate Judiciary Subcommittee in May 2023, while traveling to an event I was speaking at. Those three hours of testimony further crystallized what was already clear: AI is more than a technical shift. It is a leadership challenge that touches culture, governance, and trust. Addressing these upfront is what will allow innovation to scale responsibly.

Hortz: For a mid-sized financial advisory firm with limited resources, what do you suggest are the single most important steps they should take on their AI journey?

Koster: For mid-size financial advisory firms with limited resources, the key is to start small but strategic. First, build AI literacy at both the leadership and team levels. Make sure people understand what AI is and, just as important, what it is not. And understand where the capabilities are today versus some of the hype in the market. That grounding keeps expectations realistic. This prepares you for the mindset needed as these capabilities evolve and for leadership to create the conditions needed for responsible exploration.

Next, put simple guardrails in place around usage, especially data handling and accountability, which can prevent missteps. Think of it like starting a new workout routine. If you dive straight into the heaviest weights without mastering form and safety, you risk burnout or injury. In AI, literacy is the form, guardrails are the safety gear, and pilots are those first manageable reps that build strength. Choose one or two focused pilots tied directly to business goals like simplifying onboarding materials or automating meeting notes. Define what success looks like and measure it. This way you are cutting through hype, staying grounded, and building sustainable momentum without overwhelming your people or resources.

And if you are further along in maturity and past the pilot stage, the priority becomes scaling what works, embedding governance more formally, and ensuring AI adoption is fully aligned to strategy rather than running in pockets of the business.

Hortz: How did you design your AI Strategic Suite to help financial professionals actually build and keep developing an AI plan that is right for their firm?

Koster: We started on ourselves. The first thing we did when ChatGPT launched was form our own AI incubator and governance committee. We did not want to simply talk about responsible adoption; we wanted to experience it, test it, and pressure-test the process inside our own business. Walk the walk, so to speak. That allowed us to see firsthand what worked, what broke, and what guardrails we needed to put in place before advising others.

From that experience, the AI Strategic Suite was born. It is designed the way we applied it to ourselves: start with literacy, strategy, measurable pilots, and workflows. Build small, but meaningful pilots. Put governance and safeguards in early so experimentation stays productive and aligned. And this is key – keep it evolving and actionable. We have made the Suite a living system so we can update as the tech and regulations shift, not a static, “one and done” plan.

And now, we have a growing alliance ecosystem, which is an extended bench of people and partners we have vetted and trust – from compliance and risk experts to technologists pushing the edges. It gives our clients a way to pilot, consider fast prototyping options, and eventually scale without hiring an army.

The result is a practical, grounded approach to AI that has been, and continues to be, tested in real life, and built to grow over time.

Hortz: Can you discuss how the AI consulting process and collected resources of tools and frameworks you offer are delivered and help guide firms through every step of their AI journey?

Koster: With or without AI, we always begin by meeting firms where they are. For AI specifically, every firm has a different starting point on the AI maturity curve. Some are just trying to get their arms around what AI even means for them, while others are already experimenting. So, the first step is listening: what are the pain points, what strategic priorities are on the table, and what problems are they trying to solve?

From there, we develop an actionable strategy (key word is ‘actionable’) and a tailored roadmap. For those interested, we have developed a centralized resources hub that is customized for each client engagement. Think of it as a “command center” – it pulls together tools, frameworks, and guidance in one place, so leaders are not chasing scattered resources or trying to piece things together.

The process itself is iterative. We guide firms depending on their AI maturity – step by step, starting with learning pathways if needed, then guardrails, then pilots, and scaling considerations. Each stage is designed to build confidence while staying aligned to strategy and safeguards.

And because no one firm has unlimited resources, we keep it practical: clear criteria for success, relevant frameworks, and a cadence that works for their capacity. The goal is not to overwhelm with complexity; it is to make the experience accessible and strategies actionable and measurable.

Hortz: How did you build your “Growth Alliance” of vetted, external subject matter and expertise to support your AI Strategic Suite? Why did you feel this effort was important?

Koster: It really started in practice, not theory. One of the early requests we got from a financial services firm was asking us to clone our AI policy for them. That raised two flags at once: first, how quickly regulations and policies were shifting – state by state, region by region, and globally. And second, how different each firm’s needs really were. It was obvious we could not take a one-size-fits-all approach.

That is where our Growthential Alliance came in. We knew we needed depth of expertise across very specific domains – whether that was compliance, cybersecurity, risk, or sector-specific regulations. Rather than diluting strategy with siloed hand-offs, we built these vetted partners into our methodology. They are not bolt-ons; they are part of how we deliver. And it is still evolving.

Why is this important? Because in this space, trust matters as much as innovation. We have seen too many providers rush to market with solutions that do not meet critical standards. That is not a risk we are willing to expose our clients to. By building this ecosystem, we ensure clients get access to the right expertise and solutions at the right time – depending on their needs, and the strategies and solutions we recommend can standup to both innovation and scrutiny.

Hortz: Can you share some specific examples of how you work with financial firms to further illustrate your AI journey support process and results?

Koster: We see financial firms at very different stages of AI adoption. Many mid-sized firms are still in the literacy, foundation-setting, or pilot stage. They are focused on building comfort and literacy before committing to larger-scale adoption. In reality, many are still finishing modernization programs, updating legacy systems, centralizing and cleaning data, improving its access and operationalization of that data. Without those foundations, AI at scale simply is not possible. As Hope Frank recently wrote in a recent Forbes article, “companies must finish their digital foundation before scaling AI”…a point we see validated every day.

That is where we begin: foundations, education, and safe, focused pilots. For example, we worked with a financial services firm to design and deliver an accredited webinar for advisors. It was not “AI for AI’s sake”. It was grounded in their day-to-day, showing what is possible, what to watch out for, and how to bring advisors into the journey responsibly. It ended up being their top-performing webinar, which showed us two things: there’s appetite, and a need for literacy.

Next, we are helping businesses across verticals to plan and initiate their next steps by running targeted pilots in areas like onboarding, solution evaluations, dual-control risk assessments, content optimization efforts, and go-to-market strategies – all while beginning to shape their broader strategies. Across all of these, the approach is consistent: start small, anchor initiatives in business strategy, measure outcomes, and scale what proves effective. That is how trust takes root and how adoption can move from cautious experiments to sustained impact.

At the other end of the spectrum, we have been “in it” ourselves for nearly three years. AI is now embedded across our workflows (where it makes sense) with measurements in place and we have built a proprietary platform with customized agent capabilities to support our internal efforts.

For instance, we designed what became our AI Strategic Suite by starting small and structured. Like our clients, we faced challenges – how to experiment safely, avoid wasted effort, and delver real business value. By applying a disciplined framework, we cut research and analysis time by over 50%, embedded AI into workflows without adding headcount, and reduced compliance risk through dual-security controls, governance, and human-in-the loop oversight. Those results gave us a tested Playbook we leverage and customize for our engagements.

Hortz: What are some of the top AI use cases you tend to work on with your clients?

Koster: For many firms, the first high-value use case is personalization at scale. Mid-sized financial firms often struggle to tailor reports, onboarding documents, or educational content without draining resources. Generic AI outputs usually miss the nuance clients expect. Using our internal agent model as the blueprint, we develop secure, modular solutions where personalization speed increased by 60% cutting prep time from days to hours. Brand consistency improved, eliminating variability that weakens trust. Risk exposure dropped thanks to safeguards aligned with ISO/IEC and regulatory best practices.

Last but not least, we have developed strategic partnerships and are in different stages of co-developing new products or service offerings that open up potential new revenue streams. These are mainly focused on strategic intelligence, governance/security, workflow enhancements, and professional development. Based on our initial work, we believe these will benefit financial firms and other sectors as well.

Hortz: Any other final words on your AI journey and experiences that you would like to share with financial professionals?

Koster: Do not get distracted by the hype and noise. Focus. Set the foundations, prioritize literacy, and build in space for learning. Move quickly but not recklessly. Get a true understanding of where these capabilities are today (it’s not all a push of a button), pilot carefully, measure what matters, and scale only when ready. This is how financial firms can build AI adoption they can trust and sustain.

That is the approach we have taken ourselves and what ultimately inspired our offering – a practical way to help firms navigate their AI journey with structure, confidence, and guardrails.

This article was originally published here and is republished on Wealthtender with permission.

About the Author

Bill Hortz

Founder Institute for Innovation Development

Bill Hortz is an independent business consultant and Founder/Dean of the Institute for Innovation Development- a financial services business innovation platform and network. With over 30 years of experience in the financial services industry including expertise in sales/marketing/branding of asset management firms, as well as, creatively restructuring and developing internal/external sales and strategic account departments for 5 major financial firms, including OppenheimerFunds, Neuberger&Berman and Templeton Funds Distributors. His wide ranging experiences have led Bill to a strong belief, passion and advocation for strategic thinking, innovation creation and strategic account management as the nexus of business skills needed to address a business environment challenged by an accelerating rate of change.

[Exchange-Traded Funds (ETFs) have matured from niche products to become a core component of modern investment strategies. But their rapid rise and ever-growing diversity have placed pressure on financial advisors, institutional investors, and financial research professionals in learning how to navigate a growing global pool of disparate ETF vehicles. This higher level of complexity on research, due diligence, analysis, selection, and portfolio construction has spawned the need for single focus conferences to more thoroughly explore an increasingly intricate universe of Exchange-Traded Products (ETPs).

To learn about the behind-the-scenes strategy and mechanics of how a major industry ETF Conference is designed for the needs its audience, we reached out to Trammel Robinson, Director, ETF Issuer Relations at ETF Global – a leading, independent provider of enterprise-grade ETF reference data, analytics, and hosts of their twice-a-year ETP Forums dedicated exclusively to the global Exchange-Traded Products (ETP) ecosystem.

Beyond ETF data and tools, their semi-annual ETP Forums have become the largest one-day ETF conferences in the industry. These forums bring together top ETF issuers, analysts, and investment professionals to share perspectives on identifying market and product trends, decoding regulatory updates, and exploring emerging and innovative portfolio strategies. They function as a central hub for collaboration in the ETF ecosystem.

We asked Trammel to share with us the thinking and planning behind assembling their ETF industry events and give us a sneak peek at what they have orchestrated for their upcoming November 18, 2025 ETP Forum at the New York Athletic Club in New York City.]

Hortz: What has been your goal in originally launching and actively sustaining two ETP Forums a year? Why is the effort important?

Robinson: We have two primary goals with our Exchange Traded Product (ETP) conferences. The first is to deliver the best content presented by the most knowledgeable people in the ETP industry. We have always placed great emphasis on the quality of our panels and the professionals who participate in them – individuals from ETF firms, leading industry vendors, and partners who can address the most important and timely topics shaping the industry. The caliber of the people involved in these discussions has always been our top priority.

The second key goal is networking. These conferences are business-first events. We are proud to host such an event in the financial capital of New York at the prestigious New York Athletic Club. It is about gaining insights and creating connections that can lead to meaningful, actionable decisions in the marketplace.

We host two Forums each year for a reason. Our Fall Forum serves as a review of the ETP industry’s progress to date and explores what the coming year may bring, what trends we can project, and what will drive discussions in the next cycle. Our Spring Forum focuses on where the industry currently stands, addressing the most pressing issues and emerging trends, and considering what actions or shifts are likely to shape the immediate future.

Ultimately, both ETP Forums center on what is happening right now in the industry. Holding them twice a year allows us to maintain that immediacy. A single annual event would leave us questioning whether to look backward or forward, but by gathering twice a year, we can do both in a timely and relevant way.

Hortz: Now in your 13th year, how have you newly-expanded the ETP Forum for 2025?

Robinson: Historically, the conference was very focused on the ETF industry, primarily the issuers, custodians, administrators, and service providers. About two years ago, we began discussing who attends other ETF conferences and what they are seeking to gain from them. Through that discussion, we identified the key types of participants.

We started with the ETF issuers, which include their service providers. Their goal is to connect with the people who will directly invest assets into their products. On the other side are the ETF investors, wealth managers, endowments, family offices, RIAs, and others. We asked ourselves how we could provide the greatest value to both groups at the same time. Hearing directly from the product creators provides invaluable insights into ETF strategies, creating a transparent path to understanding these products more deeply.

The decision was to expand our Forum structure to address each group’s needs through two separate informational tracks. Having two tracks does not limit anyone from attending sessions in either track. Instead, it allows us to tailor the content to each audience while still capturing the broader needs and priorities of the ETF market as a whole.

Hortz: Tell us more about the nature of the two tracks. How are each separately constructed?

Robinson: Let us start with the ETF investor side. We begin with topics such as actively managed ETFs and how they continue to dominate new ETF issuances. We cover crypto ETFs, defined outcome ETFs, fixed income ETFs, options-based ETFs, and top opportunities for 2025 and 2026. In essence, we focus on the actual products that participants invest in. We take the discussion a step further by engaging directly with the people who create these products. We ask them why they chose to develop these products, what makes them beneficial, and what challenges they experience during the creation and distribution process.

Our goal is to have the product creators and managers speak directly to investors about the thinking behind their offerings and why they believe a product succeeded. Hearing directly from the people responsible for these products provides invaluable insight.

The investor track is designed for professional investors, wealth managers, and family offices who are seeking new products or looking for opportunities that align with their firm’s strategies. At the same time, some participants may be clients of these investors and have the opportunity to hear directly from them and engage with specific questions. The focus of the investor track is to highlight products and trends that investors want to learn about, directly from the managers behind those ETF offerings.

The industry track, on the other hand, is geared toward the business side of ETFs. Participants in this track are often ETF managers and issuers who want to hear from major exchanges, legal and compliance professionals, and other service providers. They are interested in understanding why they should list their products on one exchange versus another, what legal and compliance topics they should be considering and discussing, and which service providers can give them the best value. This track also includes trading-focused panels, mutual fund-to-ETF conversions, strategies for maximizing visibility and distribution and much more.

Hortz: How do you go about planning and developing a Forum? How do you pick topics and build an agenda?

Robinson: While I take a leadership role in the process, we rely on the entire team to make it happen. It truly takes a village. We start by identifying the key topics and strive to keep the panels as fresh and relevant as possible. We look at the current market environment, new product launches, recent SEC regulations, and any emerging hot topics or news about innovative product announcements. All of these factors guide us in curating the most compelling and timely content.

Once we determine the topics, we focus on sourcing the most relevant experts to speak on those subjects, ensuring that each session presents timely and meaningful discussions led by the highest-quality experts in the field.

Hortz: Can you share what are some of the key themes or interesting topics for the upcoming Fall ETP Forum in NYC? 

Robinson: There are two new topics I can highlight now. One of them is a panel focused on the distribution of ETFs. We understand that an issuer can have the best product, but if no one knows about it, it will be hard to sell and ultimately gain assets. This panel will discuss some of the main strategies ETF issuers should and should not implement in their own distribution process.

The second topic is the rise of UCITS and global ETFs. As the growth of ETFs continues not only domestically but also globally, many U.S.-listed companies are starting to place their ETFs into UCITS wrappers to make them tradable in European markets. This marks a fundamental shift in the ETF landscape and an increased focus on the European market.

Hortz: Anything else we should know about the Forum and why industry professionals should come to the event?

Robinson: It is clear that our Forums are business-first conferences. We are intentional and deliberate in how we design them to ensure that firms can justify sending their people away from their desks, knowing they will gain real value from the experience. We want participants to benefit from the ETP Forum in a meaningful way and see a return on the time, effort, and resources they invest to attend.

That value may come from the high-level education offered in panel discussions or from insightful conversations with fellow attendees, whether through panel insights or networking sessions in the intimate setting of the New York Athletic Club. Our approach to the ETP Forum’s structure and design is centered on ensuring participants leave with actionable insights and lasting connections that help them better serve their firms and clients.

This article was originally published here and is republished on Wealthtender with permission.

About the Author

Bill Hortz

Founder Institute for Innovation Development

Bill Hortz is an independent business consultant and Founder/Dean of the Institute for Innovation Development- a financial services business innovation platform and network. With over 30 years of experience in the financial services industry including expertise in sales/marketing/branding of asset management firms, as well as, creatively restructuring and developing internal/external sales and strategic account departments for 5 major financial firms, including OppenheimerFunds, Neuberger&Berman and Templeton Funds Distributors. His wide ranging experiences have led Bill to a strong belief, passion and advocation for strategic thinking, innovation creation and strategic account management as the nexus of business skills needed to address a business environment challenged by an accelerating rate of change.