Insight is Capital™ Podcast ETFs, Advisors, and the Next Trillion: Inside the Minds of Two Industry Leaders
Sep 2, 2025
49:44
Canada invented ETFs — but how did they grow into a trillion-dollar force, and where are they headed next? Pierre Daillie sits down with BMO ETF leaders Alain Desbiens and Tammy Cash to reveal the untold stories, the lessons learned, and what the future holds for advisors and investors.Episode SummaryIn this in-depth conversation, Pierre Daillie is joined by Alain Desbiens, Vice Chair at BMO ETFs, and Tammy Cash, Director of Distribution Strategy at BMO ETFs and Global Co-President of Women in ETFs. Together, they trace the remarkable journey of exchange-traded funds in Canada—from their early days as a disruptive upstart, to their current role as an essential building block in portfolio construction.Alain shares candid reflections on being one of BMO’s first ETF wholesalers and the skepticism he faced when ETFs were dismissed as a “trend.” Tammy recalls her path into the industry, her passion for democratization of investing, and her leadership in Women in ETFs, a global movement empowering women across financial services.The discussion covers the resilience it took to build the industry, the role of education and advisor partnerships, and how tools and technology are reshaping the advisor-client experience. Both leaders also look ahead to 2030, envisioning an ETF marketplace that is larger, more competitive, and increasingly shaped by innovation in active strategies, alternatives, and digital distribution.This is more than a story about the ETF industry — it’s about people, purpose, and the power of advice.🔑 Key Takeaways• ETFs as Disruption Turned Foundation – Alain reflects: “At the beginning I saw that the ETF could be disruptive and it could create waves and I loved it. I knew we were into something.”• Advisor Education Remains Central – Tammy emphasizes: “It really is about that education and the intersection of education and partnership today… making sure that we provide clarity, congruency and real education to advisors and investors.”• Competitive Landscape & DIY Risks – Alain warns: “There’s a lot of people [DIY investors] that buy products and they don’t really understand what they’re buying. That’s probably the worst money you’re buying.”• Women in ETFs & the Future of Advice – Tammy highlights the opportunity: “Today, sadly, we still sit at 17% representation of women as financial advisors in Canada… and the opportunity that that presents is significant.”📌 Timestamped Chapters00:00 - Introduction to Insight is Capital01:32 - Exploring Early Days in the ETF Industry03:03 - Building an Industry: Lessons from the Early Days05:37 - The Evolution of ETFs and Market Dynamics09:43 - Adapting to Change: Insights on Resilience16:39 - Women in ETFs: Empowering Female Leaders21:52 - Celebrating Women's Careers in Finance23:06 - Legacy and Product Impact on Investing24:32 - Challenges in the Advisory Business27:13 - The Evolution of Client Experience in Finance28:56 - The Return of Key Industry Figures30:47 - Investor Education and Transparency31:59 - Opportunities in ETF Specialization34:37 - The Challenge of Meeting Investor Expectations37:19 - The State of Canadian Investable Assets38:23 - Diversification Strategies for Advisors39:43 - Innovations in ETF Solutions41:08 - Navigating Complexity and Competition in ETFs42:30 - The Demand for Financial Advice43:58 - Personal Reflections on Industry Impact45:31 - The Human Element in Finance47:07 - Legacy and Leadership in Finance#BMOETFs #ETFInvesting #CanadianETFs #WomenInETFs #AdvisorEducation #InvestingInsights #PortfolioConstruction #WealthManagement #FinancialAdvisors #FutureOfInvesting