A conversation with Rory O’Hara, Founder and Senior Managing Partner Ausperity Private Wealth
Rory O’Hara, founder of Ausperity Private Wealth, discusses his journey from cold-calling trainee at Merrill, to building a business managing $500mm in client assets, to making the leap to independence as a young team.
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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.
About this episode…
The wealth management business was very different in 2007—particularly for newly-minted advisor trainees.
As former Merrill advisors Rory O’Hara shares, cold calling was their primary vehicle to reach new clients. And that he did—to the tune of 200 to 300 calls a day!
Yet he was young and determined with a strong entrepreneurial side, which led him to consider ways to “scale” the business over time.
That is, building a team that can reach more customers than what was possible with one person smiling and dialing.
Rory and his team grew the business to some $500mm in assets under management—garnering many industry accolades, including Forbes America’s Top Next Gen Advisors and Forbes Best-in-State Wealth Advisors.
Rory credits his growth and knowledge gained to his time at Merrill—an experience he calls “phenomenal.”
But through due diligence, he was surprised to discover that as an employee of the wirehouse, he and his team were limited in what they could do for their clients and to grow their business.
That is, they “didn’t know what they didn’t know” until they stuck their heads out to explore.
So in August of 2021, Rory and his team launched Ausperity Private Wealth on Sanctuary Wealth’s supported independence platform.
What propelled them to start due diligence and make the leap to independence? Rory shares those answers and more with Louis Diamond, including:
- The pushes and pulls that inspired them to consider change—and how exploration helped to open their eyes to what they were lacking at the wirehouse.
- Making the leap to independence as a young team—and how their long runway gives them more time to build their firm and add to their growth.
- The choice to build their independent firm with Sanctuary—and why they didn’t opt to build their firm from scratch.
- The transition from advisor to business owner—and the valuable lessons he’s learned in the process.
- The ability to freely market their business as independents—and how that’s impacted their growth.
- The value of having a mentor—and how that helped to shape his business mindset and model.
- And much more.
It’s a “must listen” episode that candidly explores a former wirehouse advisor’s journey full-circle: From cold-calling trainee to building a solid practice at the wirehouse, to an eye-opening due diligence process and exploration of models and options, to the transition process and new business ownership.
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Robert (Rory) J. O’Hara III, CFP®, CRPC®
Founder & Senior Managing Partner
Rory founded Ausperity Private Wealth in 2021 as an independent wealth management firm, driven by his desire to help people better manage their finances through careful planning so they can enjoy the full potential of their wealth. With more than fifteen years of experience as a wealth advisor, Rory focuses on helping Baby Boomers make the most of the next phase of their life, and High-Income Millennials who have decades of financial goals ahead of them.
Previously Rory led his own team, The O’Hara Group, at Merrill Lynch Wealth Management. As a member of the select Merrill Lynch Advisor Growth Network, he taught advanced financial planning concepts and strategies to other Merrill Lynch Financial Advisors.
Rory has been recognized by Forbes, appearing as a Best in State Wealth Advisor in 2021 and has ranked on the Forbes Top Next-Gen Wealth Advisors Best-in-State list for 6 years. Recently, Rory was also ranked #5 in the country for AdvisorHub’s 25 Next Gen Advisors to Watch list!
A graduate of Villanova University, Rory holds the CERTIFIED FINANCIAL PLANNER certification and the Chartered Retirement Planning Counsel SM designation.
Outside of the office, he enjoys spending time with his wife and four children, playing golf, and watching Villanova basketball. Rory is a proud board member of The Cathedral Kitchen in Camden, New Jersey, and serves as the Chair of its Fundraising Committee.
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