An advisor can serve their clients well and run a great business, and at the end of the day still be blindsided by unforeseen events. Thanks to industry advocacy, however, advisors can not only gain visibility on regulatory issues – they can get directly involved in regulation, legislation and policymaking through advocacy organizations like the Financial Services Institute (FSI). I just attended FSI’s Forum and Capitol Hill Day with our Editor in Chief, and we bring you coverage from the event.
In addition, this week we bring you our latest Deals & Recruiting Roundup, our first installment of the Extraordinary Stories series, views on private equity secondaries, keys to serving women clients, RISR on helping business owner clients plan for succession, Hightower’s latest investment and Summit’s minority stakes.
Deals & Recruiting Roundup: This edition of the Deals & Recruiting Roundup covers Hightower staking $2 billion Smith Anglin, Summit Financial investing in Parsons Broach, HPS staking Lido Advisors, Cary Street’s acquisition of IFS, Raymond James recruiting Jason Hancock, QTR launching an RIA, &Partners’ recruitment of 26East Private Wealth, three ex-Procyon advisors launching Third View Private Wealth, Raymond James recruiting Trustmark, Summit Trail appointing Jeff Ringdahl as President, Caprock naming Frank Giuliano as Head of Corporate Development and Angeles Wealth Management appointing Cameron Rogers as Partner.
FINRA, SEC and politics: At FSI’s Forum & Capitol Hill Day, Tim Stinson, Chair of FSI’s Board and President of Cetera Advisor Networks, announced a Next Gen initiative; Jeff Bush, Principal of The Washington Update, presented on the current political environment; and Dale Brown, FSI’s President and CEO, interviewed Robert W. Cook, FINRA’s President and CEO, as well as SEC Commissioner Hester Peirce.
Advocacy for the long term: Also at the FSI conference, we spoke with Brown; Ed Forst, CEO of Lincoln Investment; and David Knoch, CEO of Docupace, on the importance of advocacy in wealth management.
Extraordinary stories: Savvy Advisors Wealth Manager Dustin Roberts explains how open heart surgery changed his perspective on life and career in the first installment in a new series in which we relate the “Extraordinary Stories” of the lives of advisors and professionals to provide inspiration and vision for people in our industry.
What Harvard is selling: With Yale and Harvard unloading private equity secondaries, should advisors’ clients be buying? We spoke with Craig Robson, Founding Principal and Managing Director of Regent Peak Wealth Advisors; Paige Canavan, Senior Investment Manager at Opto Investments; and Stephen Tuckwood, Director of Investments at Modern Wealth Management, about the market for secondaries, pros and cons and how they may fit into client portfolios.
Serving women clients: To learn keys to serving women clients, we spoke with Sherri Kitzberger, Founder and CEO of Olympia Wealth & Life Management, part of Stratos Wealth Partners; Mary Ballin, Partner and Wealth Advisor at Perigon Wealth Management; Whitney Warmack, Managing Director and Client Advisor at Caprock; and Jamie Tomlin, Managing Director at BT Legacy Wealth Management, part of Stifel Independent Advisors.
Minority stakes: Summit Financial took minority stakes in Parsons Broach Financial Services, with over $250 million in assets, and Grandview Square Financial, with $313 million in AUM. Stan Gregor, CEO and Chairman of Summit Financial Holdings; Keith Soltis, Summit Head of Growth and Business Development; and Robbie Broach, a Founding Partner and Wealth Advisor at Parsons Broach, commented.
Advising pilots: Hightower said Wednesday it is investing in RIA Smith Anglin, which focuses on the aviation industry, with about $2 billion in AUM. Bob Oros, Hightower CEO and Chairman, and Steve Anglin, Partner and Wealth Advisor at Smith Anglin, commented.
Business owner clients: Jason Early, the Founder and CEO of RISR, says that advisors can help business owner clients prepare for succession using the skills they currently possess to help clients prioritize their succession needs.
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Larry Roth
CEO
Wealth Solutions Report
