Paul Smith, the president and CEO of CFA Institute, recently spoke at the 70th CFA Institute Annual Conference in Philadelphia. He pushed industry professionals to revisit the question “What is finance for?” and discussed some of the challenges facing the investment management profession today. He also outlined the four steps the profession must take to address these challenges, including:

• Revising current business models
• Having the CFA take the lead in earning back trust
• Recruiting more of the “right kind” of people
• Embracing and adapting to new technologies

You can find the full transcript of his speech here.