Tuesday morning, Putnam Investments president and CEO Ed Haldeman challenged attendees at NICSA's 26th Annual Conference and Expo in Miami to do better in their core mission of taking care of other people's money.

Ed Haldeman Putnam Investments Pres & CEO

Speaking on Day Three of the conference at the Doral Golf Resort & Spa, Haldeman said that while the fund industry has done well in this mission in its history, there are three things all companies can do better: diversification, professional investment management and providing service at a reasonable cost.

"That's how you take care of other people's money," Haldeman said.

Substantial movement to self-directed investing presents new challenges for the industry as well, Haldeman said. He noted that there is a 100 bps differential between the return on DB investments and DC investments.

Halderman attributed this to three things: too many choices in the investment landscape, short holding periods and chasing performance. To combat these problems, Halderman offered two solutions: diversified funds and better education and advice. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE