An acquisition is one of the most complex and all-encompassing events in an advisor’s lifetime. Many angles must be nailed down properly years in advance, including legal matters. Lawyers shouldn’t be called in late to paper over the deal. Instead, they should be engaged far ahead so they can not only help structure the deal but guide the firm in structuring itself for a future deal. This week, David Mainzer and Ryan Halls address key legal issues in M&A.
In addition, we have a team on location in Washington, D.C. for the Institute For Portfolio Alternatives (IPA) Summit from April 29 to May 1. Watch our website and LinkedIn for coverage.
Alignment Is The Missing Variable In Wealth Management
Jason Hester of Balefire Wealth argues that instead of measuring success in terms of performance and returns, success for a client should be measured in the alignment of decisions, stakeholders and priorities.
Hester says that the advisor isn’t merely a guide for the client, but takes the lead.
The Legal Side Of M&A: What Founders Get Wrong And How To Get Ahead Of It
Ryan Halls of Hue Partners and David Mainzer of Buchalter discuss three key legal areas in M&A that advisors should prepare years in advance: corporate structure, tax consequences and deal documents.
This article accompanies a video interview between Halls and Mainzer in the Hue Partners: M&A Confidential video series.
Regtech Surge: With AI, Everyone’s Selling The 80%. The Value Is The 20%.
In this month’s Regtech Surge column, Sid Yenamandra argues that going 80% of the way on AI compliance tools will leave a firm hurting. The final 20% is where success can be found – in integration, security, audit logging, the human-in-the-loop, validation and trust.
Yenamandra said, “The 80% is commodity now. Anyone can ship a demo.”
Finding The Right Formula For Advisor Recruitment And Retention
Advisor recruitment and retention remain a challenge across the industry. High attrition numbers; competition for the same pool of talent; and expectations of advisors in terms of compensation, support and career paths continue as the industry seeks solutions.
We spoke with Megan Glover of EP Wealth Advisors and Connor Sung of eMoney Advisor, asking each of them what they see as the most pressing issues in advisor recruitment and retention, as well as what their firms are doing to address these issues.
Docupace’s Filanowski: Building The Next Generation Of Wealth Operations Platforms
WSR interviewed Docupace’s recently appointed CEO, Brian Filanowski, to discuss data, fragmentation, compliance, AI, infrastructure, the company’s InvestEdge acquisition and more.
“The next generation of platforms has to earn its place by making complexity disappear,” said Filanowski.
Deals & Recruiting Roundup
This week’s roundup features acquisitions by F2 Strategy, Hightower, Wealthspire, Modern Wealth and GTCR; recruiting by Sanctuary Wealth, Baird, Osaic and Cetera; Kintra and Prairie View launching; and appointments by Mercer Advisors.
This week’s news demonstrates the broad range of options advisors have available to them.
$800 Million Team Leaves Merrill For Sanctuary Wealth
Hybrid RIA Sanctuary Wealth recruited a team led by brothers-in-law Josh Erickson and Rob Montierth from Merrill Lynch, where they managed $800 million in client assets. The team joined Sanctuary as Soteris Private Wealth in Walnut Creek, California.
Soteris is the second Merrill Lynch team to join Sanctuary this month.
Hightower To Acquire $9.5 Billion RIA The Bahnsen Group
Hightower announced it will acquire The Bahnsen Group, which oversaw about $9.5 billion in assets under management as of Dec. 31. The Bahnsen Group has affiliated with Hightower since its founding in 2015.
The Bahnsen Group will keep its branding and may be used for inorganic growth and integrating advisory teams.
Fiduciary Vs. Suitability Standards: Do Your Clients Understand The Difference?
Shehab Mohammad of Artisancap said clients often do not understand the difference between the fiduciary and suitability standards, and argues that advisors should discuss it with them to increase trust.
“Transparency and authenticity consistently win in the wealth management space,” he said.
Patent Perspectives: Financial Literacy Matters – It’s More Than Just The Basics
In his latest Patent Perspectives column, Pat Hynes of Prudential Advisors addresses financial literacy, advocating for advisors to educate clients to build trust and credibility, while empowering clients to achieve healthy relationships with money.
As financial literacy month draws to an end, it’s important advisors don’t assume their clients actually know everything they should.
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Larry Roth
CEO
Wealth Solutions Report
