Host Ryan Nauman speaks with Mannik Dhillon, President of Investment Franchises and Solutions and Head of Product and Strategy at Victory Capital, about how consolidation is reshaping asset management and what it means for ETFs. Dhillon explains Victory’s multi-boutique model, emphasizing autonomy for investment teams supported by centralized distribution, operations, technology, and compliance. He discusses why consolidation is driven by platform and advisor preferences for fewer partners, the need for larger distribution resources, and operational efficiency in a fee-competitive industry, citing Victory’s growth in scale and integration strengths. The conversation also covers ETF share classes, including demand for tax efficiency, how they could benefit active mutual fund managers, and considerations for advisors such as bid-ask spreads, liquidity, daily transparency, and strategy fit.
Zephyr can help financial advisors locate the best ETF strategies for their clients. Learn more here.
Learn more about Victory Capital here.
00:00 Podcast Welcome Disclaimer
00:36 On Location ETF Conference
01:31 Meet Manik Dhillon
02:08 Victory Capital Model
03:54 Industry Consolidation Drivers
07:14 Does Consolidation Dilute
08:53 ETF Share Classes Overview
09:22 Why ETF Share Classes
13:52 Advisor Considerations Risks
16:09 Wrap Up Where To Learn
16:31 Final Thanks Subscribe
