The next generation of advisors and clients is a perennial discussion topic for wealth management. They will remake our industry, so those of us from prior generations must understand their workstyles, investing preferences, values, hopes and dreams. This week, Michael Kim of AssetMark addresses the subject as “The Great Opportunity Transfer.”
We also bring you our Deals & Recruiting Roundup, Oppenheimer’s change of CEOs, Genstar buying First Eagle, PureFacts bolstering its C-suite, TradingBlock’s retail platform, Corbett Road on tactical portfolio management and YCharts’ new AI tool.
Deals & Recruiting Roundup: This edition of the Deals & Recruiting Roundup covers AlTi’s purchase of Kontora, Prime Capital’s acquisition of SineCera Capital, Mariner acquiring Ocean Heights, CAPTRUST’s acquisition of Carolinas Investment Consulting, Composition acquiring Vinoble Group and Unionview Wealth Partners, EP Wealth acquiring Holben Group, DecisionMap joining Dynasty, Compound Planning adding a former Choreo team, Oppenheimer appointing Robert Lowenthal as incoming CEO, Prudential naming Pat Hynes as President, Mercer appointing Ted Motheral as Principal, M&A Partner Development, and Verdence naming Sarah Mouser as Managing Director of Financial Planning.
Preparing for the Next Gen: AssetMark CEO Michael Kim sat down with us to discuss shifting demographics, the next generation of advisors and clients, and how advisors can stay ahead of the changes.
Changing the guard: Oppenheimer CEO Bud Lowenthal will pass the reins to his son Robert Lowenthal in May. Robert Lowenthal is currently President and Head of Investment Banking.
Private equity sale: Genstar Capital will buy a majority stake in investment management firm First Eagle Investments from Blackstone, Corsair and their co-investors. Mehdi Mahmud, CEO and President of First Eagle; Tony Salewski, Managing Partner of Genstar; and Kelly Wannop, Managing Director of Blackstone, commented.
C-suite buildout: PureFacts added three executives to its C-suite: Robert O’Boyle as Chief Revenue Officer; Anuradha (Anu) Dodda as Chief Technology Officer; and Stephen Tkaczyk as Chief Financial Officer. President Pete Hess and CEO and Founder Rob Madej commented.
Trading platform: TradingBlock launched a trading platform designed to provide retail investors with the same tools available to professionals. The firm’s President and CEO, Jere Wickert, and Vice President of Market Strategy, Mike Martin, commented.
Tactical portfolio management: Matthew Gaffey, President of Corbett Road Wealth Management, explains the benefits to clients of tactical portfolio management.
AI-based financial data: YCharts launched AI Chat, a new AI-based tool designed to provide faster insights, interactive data and visualizations, customizable queries and an integrated workflow. The firm’s Chief Product Officer, Caleb Eplett, commented.
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