ADISA’s Board of Directors recently commissioned a task force to develop tools to help improve the investment products in the retail AI industry. The task force, the AI Betterment Task Force, has as its first chairs Sherri Cooke (iCapital Network) and Brad Updike (Mick Law), assisted by Ann Moore (International Assets Advisory), Jean Merriman (Strategic Financial Alliance), Lilian Morvay (IBD Consulting), Travis Hicks, (Independent Financial Group ), Greg Mausz (Preferred Capital Securities), Michael Miller (Sigma Financial), and Darryl Steinhause (DLA Piper). 

After initial meetings, the task force is planning several ambitious deliverables: a series of case studies (with all names redacted) that help the industry identify key historical lessons we’ve learned. This effort marked the foundational step by the task force to focus on deliverables that address areas of improvement in disclosure and diligence to promote the continued betterment and growth of the Alternative Investment space. Once approved by the task force, we plan to socialize these with other key stakeholders in the industry in an effort to create real and actionable change to help the Alts space grow. This will come in the form of white papers, educational tracks at conferences, webinars and other means the industry feels will help weave these collectively adopted concepts to create an even stronger and enhanced fiber of our industry.

“We want these deliverables to serve as catalysts  to support the industry in a positive evolution of its programs and best practices that help promote the most successful outcomes for all,” said Sherri Cooke.  She continued, “Brad Updike’s tireless efforts in creating case studies has been amazing and I’ve been working with a sub-committee comprised of Travis Hicks, Michael Miller, and Mike Kell on the forward-looking guidance that has been really inspiring in its thoughtfulness and collective insight. We’ll be taking that draft to the larger task force next week as a hopeful last step before sharing it with others across the industry. It will be really important to get input across all participants in this space to create what we hope becomes a truly collaborative industry effort.”

“ADISA’s new website will give additional room for results of important work of this task force; we need more services to the industry like this for strong growth, and I applaud this ambitious project,” commented ADISA’s president, Matt Malone (FS Investments). ADISA recently added a product/services directory for its members of a wide range of alternative investment products along with searchable database of industry suppliers.  Ultimately, the hope is to enable Broker-Dealers, RIAs, and advisors at-large to give up-to-date and comprehensive advice which also features the needed diversification provided by alternative investment products.