Jeff Concepcion of Stratos Wealth Partners shares why he chose Emigrant Partners as a capital partner, what independent firm owners need to do when preparing for an acquisition, how he grew his firm from zero to $14B AUM in just 12 years, and more.
Mindy Diamond Mentioned – By Ann Marsh, OnWallStreet – Ahmie Baum knows something about transitions. After all, the longtime ex-UBS advisor who began his wirehouse career at E.F. Hutton in 1979 has been counseling clients on how to “navigate the known and the unknown” when they sell their businesses or retire from executive, medical or legal careers for 40 years.
Mindy Diamond Featured – By Jake Martin, Citywire – Mindy Diamond stood to collect a hefty fee from yet another big deal that was cruising toward completion, and her stomach was in knots. The principal of an independent advisory firm managing $1bn or so in assets was deep into the process ofselling his business to a larger shop, in the $3bn-$4bn AUM range. Diamond was shepherding the seller through the transaction.
Part 1 of 2 on M&A: Karl Heckenberg, president and CEO of Emigrant Partners, discusses how the firm’s value proposition, plus the well-established clout of the Milstein family, is representative of a “new breed of acquirers” in the RIA space.
By Suzanne Wooley, Advisor Perspectives – Matt Kilgroe and his team have left UBS Group AG, where they managed $1.2 billion in client assets, to start Cyndeo Wealth Partners in his hometown of St. Petersburg, Florida. Kilgroe, 54, spent 21 years at Merrill Lynch before moving to UBS in St. Pete, where he worked for eight years. While Cyndeo has a number of old land-owning Florida families as clients, its seven advisers also work with corporate executives, business owners and professional athletes in about 40 U.S states, he said.
By Asia Martin, WealthManagement.com – Matt Kilgroe, an advisor to sports and entertainment professionals in St. Petersburg, Fla., has left UBS to start his own registered investment advisory, partnering with Dynasty Financial Partners to do so. He and his 13-member team, which manage $1.2 billion in client assets across approximately 400 households, will now be known as Cyndeo Wealth Partners.
In this 10-minute update, Mindy Diamond explores the recent uptick in financial advisor recruiting activity, answers the questions we’re hearing most often from advisors, and shares the threshold question for advisors considering change.
Former UBS advisor Lori Siegel CFP of Centrix Wealth Partners talks about her first year of independence, forming Centrix Wealth Partners with Raymond James Financial Services, and how the ability to control their own destiny was a powerful driver.
Mindy Diamond Quoted – By Jason Bisnoff, Forbes – Goldman Sachs, once iconic among Wall Street firms, renowned for its C-suite relationships and institutional business, is forging headlong down market with recent acquisitions designed to bolster its capabilities among registered investment advisors and the mass affluent.
Justin Berman left Goldman Sachs 10 years ago to build his own independent firm, at a time when such a move was much less common. How did he find the courage to leave the Goldman imprimatur, brave the firm’s 60-day Garden Leave, and build the now $3B Berman Capital Advisors? He explains all this and more with Mindy Diamond in this podcast episode.
