To My Fellow WSR Community Members:
Our industry expends tremendous resources so that end clients can know what value their assets will carry into retirement. For business-owner clients, the calculations depend greatly on the value that can be extracted from the business.
The average independent financial advisor is in the same position as many of their business-owner clients, with a book of business that represents a life’s work suddenly undergoing assessment by external parties based on parameters that often surprise advisors. This week, GeoWealth executive Brendan Falls unpacks some of the surprises so advisors can maximize that value assessment.
We also bring you Perigon’s analysis on differentiating practices to serve client niches, a Q&A with Landon Yoshida of Apriem Advisors on how he built his client niche, our Weekly Recruitment Roundup, the proliferation of new ETF strategies, Kestra’s latest recruit and Surge Ventures’ compliance software launch.
Thanks to all of you who completed our survey on the state of advisor technology with Docupace! It’s ending soon, so take advantage of this opportunity to speak out about the efficiencies and challenges of your tech stack through the survey and receive a chance to win a $250 Amazon gift card.
This Week’s Issue
This week we bring you:
- What do an RIA and a multifamily office have in common? In Newsmakers & Roundups, this edition of weekly recruitments features LPL Financial recruiting two teams, Cetera Advisors recruiting a team through Totus Wealth Management, Kestra Private Wealth Services poaching an advisor from Edward Jones, Robertson Stephens adding an advisor in the San Francisco Bay Area, EP Wealth Advisors acquiring two firms in Arizona and California, Concurrent Investment Advisors partnering with Lumature Wealth Partners, SpirePoint Private Client launching as an RIA and Mavros Capital launching as a multifamily office.
- Is there a Cambrian explosion in ETFs? In Investment Solutions & Gatekeepers, we hear from ETF experts Brian Keheller, Chief Revenue Officer of Simplify; Jake Hanley, Managing Director & Senior Portfolio Strategist of Teucrium; and Greg Bassuk, CEO of AXS Investments, about the regulatory changes, client needs and other factors driving rapid creation of unique ETFs.
- What are the levers to increase your firm’s valuation? In Expert Resources, Brendan Falls, SVP, Strategic Growth of GeoWealth, tells us about ways to adjust your approach to factors such as tech, repeatability, growth, scalability and younger clients to maximize your firm’s value.
- Why should you differentiate your practice? In Upmarket, Arthur Ambarik, CEO of Perigon Wealth Management, discusses how serving niche audiences can grow your practice with Perigon affinity group leaders Mary Ballik, Wealth Manager; Danny McAuliffe, Financial Advisor; Jeremy Paul, President and Partner; and Bill Rackley, Private Wealth Advisor.
- How exactly does an advisor build a client niche? Also in Upmarket, Landon Yoshida, Vice President, Wealth Management and Principal at Irvine, California-based Apriem Advisors, describes how he built a successful client niche in the oil & gas sector. We asked Yoshida to describe his niche in detail, how he developed the niche and his advice for advisors seeking to do so themselves.
In case you missed it, last week we brought you:
- Who is growing in Georgia? In Newsmakers & Roundups, Kestra Private Wealth Services (Kestra PWS) recruited Perry, Georgia-based Bob McCullough from Edward Jones to join Inspired Wealth Planning, opening its second office and raising the firm’s client assets to $350 million. Inspired President Ricky Smith, a longtime friend of McCullough, and Kestra PWS CEO Rob Bartenstein provide commentary.
- What’s the first new product out of a new fintech venture studio? In Digital Domain, Surge Ventures launched RegVerse. The new offering’s flagship product is the Avery platform, which is designed to enhance regulatory change management and tracking of firmwide compliance protocols for RIAs, broker-dealers, banks, hedge funds, mutual funds and insurance agencies of nearly any size. Surge Ventures Co-Founder Sid Yenamandra and Advisory Board Member Tito Pombra provide commentary.
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Cheers!
Larry Roth
CEO
Wealth Solutions Report
