Key insights shared by recent breakaway advisors and independent business owners curated from the 2021 season of the podcast series for financial advisors. Topics include why they chose independence, motivations to change, impact to clients and more.
After building a $1.2B business at UBS, Matt Kilgroe and his team found they were limited in what they could do for their clients. So in June of 2020, amidst the pandemic, they launched RIA Cyndeo Wealth Management and haven’t missed a beat.
By Ross Snel, Barron’s – A financial advice team that managed $1.2 billion at UBS has taken the leap to independence with the assistance of Dynasty Financial Partners. So reports WealthManagement.com, which writes that the new firm will be called Cyndeo Wealth Partners. The name comes from the Greek word syndeo, which means “connect.”
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 Suzanne Woolley, Bloomberg – 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 Jake Martin, Citywire USA – Veteran advisor Matt Kilgroe has defected from UBS to launch Cyndeo Wealth Partners in St. Petersburg, Florida using RIA platform Dynasty Financial Partners, which is headquartered in the same city.
Louis Diamond Quoted – By Brooke Southall, RIABiz – The breakaway movement may have gone underground during the COVID-19 pandemic and subsequent market meltdown, but it never blinked. While wirehouses were getting knocked sideways by the shift to a virtual workplace, RIA custodians and recruiters adjusted their poaching tools on the fly and began shepherding “quiet launches.”
