2025 Policy & Leadership Forum

With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, Congress enacted sweeping tax changes with direct implications for investment advisers and their clients. This session will focus on what matters most – from the extension of Trump-era rates and an expanded standard deduction to updates to the small business deduction and new planning opportunities tied to senior relief, business income, R&D, and the SALT cap. We’ll also explore how these changes are shaping the political landscape – and what they could mean for the 2026 midterms.

• Russell W. Sullivan, Chair of the National Tax Policy Group, Brownstein Hyatt Farber Schreck, LLP

Peer-led sessions to provide a forum for executives from similarly sized firms to engage in discussions about issues facing the investment adviser industry.

Today’s shifting markets, evolving client (and staff) expectations, technological advancements, and an ever-changing regulatory and legal environment are combining to make the job at the helm of an advisory firm more challenging than ever. These four esteemed leaders will engage in a dynamic discussion of the forces shaping the industry, emerging hurdles and opportunities, and their strategies for ensuring that their firms will adapt and thrive, whatever the prevailing winds may deliver.

• Jane C. Ingalls, President, Chief Operating Officer, Bow River Capital
• Sonya Mughal, CFA, Chief Executive Officer, Bailard, Inc.
• Harry O’Mealia, President, Chief Executive Officer, 1919 Investment Counsel
• David B. Reynolds, Principal, Berkshire Global Advisors (Moderator)

In the fewer than three years since ChatGPT was released, artificial intelligence (AI) has been adopted by both individuals and business users with dizzying speed. The prospect of improved decision making, capturing significant efficiencies, and boosting creativity and innovation using AI tools simply cannot be ignored.

This panel will feature voices of practitioners who have traveled the sometimes-daunting path to implementing AI for their organizations. Our speakers will share their experience of establishing an AI framework that harnesses the benefits of this fascinating technology while guarding against its potential pitfalls.

• Allison L. DiLiberto, Managing Director and Head of Finance and Operations, Altair Advisers
• Kate Ring, Chief Compliance Officer, Stash
• David J. Rouse, Principal and Chief Compliance Officer, GW&K Investment Management
• Al Castillo, Managing Director of Solutions Management, SS&C Advent (Moderator)

Join us for a candid conversation with a key Member of Congress as they share their perspective on the policy landscape shaping the financial services industry. In this wide-ranging fireside chat, we’ll explore the legislative outlook for the year ahead, priorities for key committees, and how Congress is approaching issues like tax reform, financial regulation, innovation, and global competitiveness. Hear firsthand how lawmakers are thinking about the role of investment advisers. This is your opportunity to gain unfiltered insights from the source – and better understand what’s driving decisions in Washington that affect your business.

• Congressman Troy Downing, U.S. House of Representatives (MT-02)
• William Nelson, Director of Public Policy and Associate General Counsel, IAA

The IAA team will unpack the impact on investment advisers of developments on Capitol Hill and at the SEC and other regulators and highlight the work the IAA has done and is doing – with the support and collaboration of our members – to advance the interests of the industry in this new environment.

• Karen L. Barr, President & CEO, IAA
• Gail C. Bernstein, General Counsel & Head of Public Policy, IAA
• William Nelson, Director of Public Policy & Associate General Counsel, IAA

Tariffs and trade deals, immigration and fiscal policy, inflation and monetary policy…

Drawing on her deep body of public sector experience, including serving as an economist at the Federal Reserve Board and as the chief economist for the Congressional Budget Office, Edelberg will provide her perspectives on the global macroeconomic landscape and implications for business leaders aiming to see their enterprises grow and prosper.

• Wendy Edelberg, Senior Fellow – Economic Studies, Brookings Institution

General Session: Navigating the Changing Demands in Wealthcare

“Those that fail to learn from history are doomed to repeat it.” — Winston Churchill

For twenty-five years, Focus Consulting Group has gathered data that enables leaders to build great places to work. During that time there have been two market cycle downturns, a global pandemic, the introduction of two new generations of talent, a wave of consolidation, and changing expectations about what defines a great workplace.

• What have we learned about the wealthcare industry over the past ten years?
• What are the data telling us?
• And how can that data help us steer our firms successfully into the future?

This lively discussion and postmortem review of the past ten years will provide an abundance of data-informed wisdom for firm leaders as they prepare for the next ten.

• Bryan Kozlowski, Partner, Focus Consulting Group
• James Ware, Founder, Focus Consulting Group

Former senior SEC officials from both sides of the aisle share their insights on what’s ahead for the Commission under the current administration. The session will explore how the SEC may approach its regulatory and enforcement agenda, what reforms could be on the table, and how the agency is likely to engage with Congress in the coming year.

• Heather Slavkin Corzo, Principal, Mindset
• James McGinnis, Counsel, Ropes & Gray
• Troy A. Paredes, Founder, Paredes Strategies LLC
• Cayla Culver, Managing Director, Charles Schwab & Company (Moderator)

Considered among the most authoritative voices on the political news of the day, Palmer will share an up-to-the-minute breakdown of what’s happening on Capitol Hill and what’s on the horizon for Congress and the White House as the nation’s leaders and decision-makers work to address today’s most-pressing issues in politics and policy.

• Anna Palmer, Co-Founder and CEO, Punchbowl News

Whether you’re new to Adviser Advocacy Day or a seasoned pro, this session will help you get ready for a productive – and enjoyable – day on Capitol Hill. Building on our early September briefing webinar, IAA staff will review our policy priorities and provide detailed talking points and background materials to support meaningful conversations with lawmakers and their staff. Most importantly, remember that you are the most important person in the room. They want to hear from their constituents and learn about your business. Be yourself, speak from experience, and have fun.

Attendees will be grouped with other advisers from their region and head to the Hill accompanied by IAA staff, equipped with their prep packages and precise directions.

Head back to the Royal Sonesta Hotel to unwind and share your “war stories” from the day.