To My Fellow WSR Community Members:
I have known a great many marketing executives over the years, and the most exceptional ones have a knack not only for reaching advisors and clients with messaging that excites and informs, but also a sense of how to read both the operational details and overarching vision of a company and translate that into a unified package of campaigns.
Most in our industry possess a strong awareness of the importance of good marketing leadership. It’s not just the best product or service that wins the day – it’s the best offering that connects with its audience. To honor those who demonstrate excellence in this arena, we announce the CMO 10: Top Wealth Management CMOs.
In addition, as Pride Month concludes, we honor advisors and other professionals in wealth management from the LGBTQ+ community by providing a platform for two successful entrepreneurs and firm founders to speak to us about progress, the needs of LGBTQ+ clients and ways advisors can get involved, including allies.
We also bring you the latest news in the Weekly Recruitment Roundup, the launch of an advisor-focused AI tool, Advisor Group’s rebranding to Osaic, new recruitments by Stratos and NewEdge, the latest survey results from COMPLY and the Investment Advisers Association and Miracle Mile’s new leadership.
This Week’s Issue
Here’s what we have on tap this week:
- In our Wallet Share section, we honor excellence in wealth management marketing leadership by naming a group of elite, highly accomplished CMOs as our inaugural CMO 10: Top Wealth Management CMOs.
- In Newsmakers & Roundups, our latest edition of the Weekly Recruitment Roundup covers Advisor Group rebranding as Osaic, Stratos Wealth Advisors recruiting advisor Robert A. Hamer, NewEdge Wealth opening its San Francisco office with former First Republic advisor John Froley, Waverly Advisors acquiring Silicon Hills Wealth Management, SageView Advisory Group agreeing to acquire Retirement Benefits Group, Carson Group establishing an equity partnership with Northwest Capital Management and Merit Financial Advisors appointing former LPL executive Andy Kalbaugh to its Board of Directors.
- In our On The Rise section, as part of our celebration of Pride Month, we hear from a veteran planner, firm founder and CEO in the LGBTQ+ community, Marci Bair of Bair Financial Planning, who tells us how allied advisors can serve the LGBTQ+ community, describes challenges facing the community and explains the importance of ESG expertise in serving LGBTQ+ clients.
- Also honoring Pride Month, we speak with Laura J. LaTourette (she, her), Founder of Family Wealth Management Group, in the On The Rise section, who describes the three generations of LGBTQ+ clients and how advisors can serve the needs and financial well-being of the LGBTQ+ community.
- What does it really mean to be a fiduciary? In Words In Edgewise, Bento Engine’s CEO, Philipp Hecker, argues that the wealth management industry must broaden and clarify the definition of “fiduciary” so that clients receive more comprehensive advice, and at times fiduciaries must go above and beyond legal requirements to serve clients well.
- What’s the latest happening in wealth management AI? In Digital Domain, Wealth Management GPT, founded by former Skience President and COO Marc Butler, launches a writing tool with a suite of AI-based services tailored to the needs of financial advisors.
- Which RIA just appointed its first CEO? Also in Newsmakers & Roundups, $4.5 billion RIA Miracle Mile Advisors appoints Bruce Milam as its first CEO, tasked with formulating and driving the next stage of the firm’s growth strategy as it aims for accelerated growth with private equity backing from Corsair Capital.
In case you missed it, last week we brought you:
- In Newsmakers & Roundups, Advisor Group rebranded as Osaic and plans to unite its eight wealth management firms under the new name while also seeking to reduce operational complexity among the firms during the next 18 to 24 months. Jamie Price, President & CEO; Greg Cornick, President, Advice and Wealth Management; and Jen Roche, EVP, Marketing & Communications, explain how Osaic became the new brand.
- Who’s the latest advisor recruit in Chicago? Also in Newsmakers & Roundups, Stratos Wealth Advisors recruited 40-year veteran Robert A. Hamer, with $250 million in assets, from Asset Management Group. Stratos’ Founder and CEO, Jeff Concepcion, and Chicago-based Managing Director, Robert Samson, comment.
- Also in Newsmakers & Roundups, the Stamford, Connecticut-based RIA NewEdge Wealth announced the opening of its San Francisco office and the recruitment of former First Republic wealth manager John Froley as its first advisor. Rob Sechan, CEO and Co-Founder of NewEdge Wealth, discusses the strategy.
- What key trends are revealed in the latest investment adviser survey? In Beltway And Beyond, the Investment Adviser Association and COMPLY subsidiary National Regulatory Services released their annual Investment Adviser Industry Snapshot, revealing growth and key trends for investment advisers in regulatory concerns, remote work and private funds.
Send us your ideas, suggestions and thoughts on this week’s topics and more.
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Have a great Independence Day weekend and we’ll catch up with you on July 5th!
Cheers!
Larry Roth, CEO
Wealth Solutions Report
