Who are the investors? How are deals structured? Why would an advisor choose to sell all or a portion of his business? What’s the downside? When to monetize? The answers to those questions and more for wirehouse and independent advisors.
By Deborah Aronson, WealthManagement.com – Long before the pandemic hit, the independent space was gaining traction among advisors craving greater control over their business lives along with a better way to serve clients. Yet, there’s a population of advisors who watched from the sidelines as their respected colleagues made the leap. That is, advisors who had growing frustrations with their firms’ and yearned for the freedom and flexibility of independence, but were besieged by concerns about leaving the comfort, familiarity and infrastructure of the brokerage model.
3 “ex-wirehouse-turned-independent-industry-leaders” in a rare single forum: Shirl Penney of Dynasty Financial Partners, Jim Dickson of Sanctuary Wealth and Rich Steinmeier of LPL Financial. They join Mindy Diamond to share an “insider’s view” of the wirehouse world, wealth management, independence, and more.
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.
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.
Tim Bello of Merchant Investment Management discusses the growth of the independent space and the burgeoning cottage industry that fills capital, service and support gaps, creating new paths for those who have a desire to grow their own enterprises.
By Louis Diamond – While bigger isn’t always better, the fact remains that smaller independent practices can benefit by understanding the example set by larger firms when it comes to “scale.” Simply put, most larger RIAs have optimized the management of capital, infrastructure, buying power and resources, resulting in a well-oiled machine that has mastered an optimal balance of organic and inorganic growth.
From NASA scientist to Forbes Top Wealth Advisor: Paul Pagnato, CEO Founder of PagnatoKarp, shares his extraordinary breakaway story from financial advisor at Merrill Lynch to launching an independent practice at HighTower Advisors before forming the now $4B fee-only RIA firm.
By Louis Diamond – It’s not surprising that the RIA space often garners the lion’s share of attention both in the media and with advisors considering their next chapter. Yet in a rapidly changing landscape, IBDs have been working hard to evolve their business models and position the firms – and their advisors – for a new chapter of success.
Recent News & Articles
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- $421m team breaks away from Oppenheimer
- Stifel hires former UBS, Merrill teams to staff two new offices
- 3 Options for Advisors who are Feeling “Stuck” After Having Signed on the Dotted Line
- Career Merrill Broker in Michigan Joins Another Alum’s RIA
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