To My Fellow WSR Community Members:
Rapidly drawing to a close, 2023 has unveiled many surprises, continued high interest rates, global uncertainties, technological leaps and more that affect advisors, their clients and, ultimately, their businesses. Despite the changes and uncertainty, growth lies within reach for the determined. As Abraham Lincoln said, “Always bear in mind that your own resolution to succeed, is more important than any other one thing.”
Many instances of change this year have been positive, especially in technological developments, which provide the means for new strategies and tools. Even the year’s unpleasant developments leave opportunities open for intrepid advisors to adapt and seize.
This week we bring you the experiences of experts from Miracle Mile, Vestmark and Sanctuary on how they are finding growth opportunities in areas such as tax efficiency, M&A and wirehouse breakaways; as well as a new growth platform by Practice Intel designed to improve advice to clients; and Goalsetter’s CEO on how financial literacy can become your growth opportunity.
We also bring you a Lazard executive’s view on the impact of sustainability issues on infrastructure investments, our Weekly Recruitment Roundup and its spotlight of Carson Group’s VP of Mergers & Acquisitions, an exploration of how the major broker-dealers are innovating to win over advisors, CoastalOne’s recruiting successes, Intention.ly’s new executives and FSI’s discussion on insurance.
Take five minutes to contribute to the industry by sharing your tech stack experiences through our survey on the state of advisor technology and you can receive a chance to win a $250 Amazon gift card. The survey ends soon!
This Week’s Issue
This week we bring you:
- Who’s our newest Recruiter Of The Month? In Newsmakers & Roundups, we speak with Michael Belluomini, VP of Mergers & Acquisitions for Carson Group. We also cover NewEdge Wealth recruiting from First Republic, CoastalOne onboarding nine advisors, Mercer acquiring Kingfisher Capital, Modern Wealth acquiring its fifth firm since launching this year, Fidelity launching an Independence Hub for advisors, Concurrent adding Schwab as a custodian, Rise Growth Partners recruiting Wealth Enhancement Group COO Terri Kallsen and SageView Advisory Group appointing three executives.
- What are the major independent broker-dealers doing to stay competitive on recruiting and retaining top advisor talent? In Upmarket, we capture the latest IBD innovation trends from Osaic, LPL, Commonwealth, Kestra and Cetera. In addition to firsthand commentary from broker-dealer executives, Summit Financial CEO Stan Gregor provides insights on his firm’s growth platform.
- How does financial literacy present an opportunity for advisors? In Expert Resources, Tanya Van Court, CEO and Founder of Goalsetter, describes the dearth of financial literacy in America across all generations and how advisors can reach multiple generations through tech tools emphasizing financial literacy.
- Sustainability issues have come to infrastructure investments, and advisors must ride the wave or falter. In Investment Solutions & Gatekeepers, Robert Wall, Managing Director and Head of Sustainable Private Infrastructure at Lazard Asset Management, tells us about sustainability issues in infrastructure investments and how the energy transition will impact infrastructure companies.
In case you missed it, last week we brought you:
- Who launched the newest advisor platform? In Newsmakers & Roundups, Practice Intel introduced its growth platform to provide support for improved client advice to increase firm valuations. The firm’s Tom Rieman, Founding Partner and CEO; Nicholas Gudz, Chief Growth Officer; and Preston Cherry, Co-Founder and Chief Evangelist, provide commentary.
- Which firm is making inroads into North Texas? Also in Newsmakers & Roundups, the broker-dealer and RIA CoastalOne onboarded nine financial advisors plus support staff who oversee more than $500 million in combined client assets. All of the advisors previously were affiliated with Texas-based Titan Securities. CoastalOne CEO Kevin M. Keefe and Todd Gottel, Co-Founder of Lone Star Wealth Advisors, provide commentary.
- How do you capture growth in an uncertain landscape? In Upmarket, experts address how to manage evolving expectations and conditions to produce growth, for our latest Business Development Roundtable. We spoke with Nate Angelo, Head of Wealth Management at Miracle Mile Advisors; Michael Longley, Chief Growth Officer of Sanctuary Wealth; and Ananya Balaram, Chief Revenue Officer of Vestmark.
- Which marcoms firm is building out its leadership team? In Wallet Share, Intention.ly announced the hiring of Jess Flynn and Marni Dacy as Directors of Account Strategy, providing senior guidance and strategic oversight. The firm’s CEO and Co-Founder, Kelly Waltrich, provides commentary.
In addition, this week we bring you Sponsor Partner Content from Chris Paulitz, Head of Strategic Initiatives for the Financial Services Institute (FSI). He discusses one of the primary hurdles of independence – providing insurance and benefits for yourself and your employees – and FSI’s solutions.
Share your feedback with the wealthtech industry through the T3/Inside Information Software Survey. Results will be announced at the T3 Technology Conference in January.
Let us know your comments, views and ideas. We enjoy hearing from you!
We’re always engaging with you – our WSR Community – on LinkedIn. Come join the discussion!
Cheers!
Larry Roth
CEO
Wealth Solutions Report
