For broker-dealers and RIAs looking to recruit advisors to their platform, the goal of creating the most attractive platform can’t be reached by simple solutions. It requires attention to the nuances of advisors’ needs in an evolving environment. This week, Joe Mooney of Concurrent addresses how to build a platform that advisors – including breakaways – love.
In addition, we bring you our monthly Investments Roundup, our weekly Deals & Recruiting Roundup, acquisitions by Mariner, Merit and Carson Group, Invest in Others’ charity grants, Sanctuary’s new recruit, David Scranton’s book on attracting clients, a Stratos affiliate moves to 100% employee ownership and recruiting experts predict 2025 RIA recruiting.
Deals & Recruiting Roundup: This edition of the Deals & Recruiting Roundup covers Cerity Partners’ merger with Prio Wealth, Mariner’s acquisition of Cardinal Investment Advisors, Mercer Advisors’ three acquisitions, Sanctuary Wealth’s new partnership with Hillguard, Kestra’s partnership with Campus Private Wealth, Sullivan joining Procyon Partners, Strawhecker to run platform transitions for Dynasty and Merrill’s new UHNW group.
Investments Roundup: This edition of the Investments Roundup features the ICI’s and ISS MI’s report on target date funds; CAIS’ new sports fund; BlackRock’s new buffer ETF; Cerulli’s outlook on ETFs; MMI’s new CAO; Pantheon’s new evergreen fund; HFR’s 2024 hedge fund data; and Citi’s latest call on 10-year Treasury yields.
Building the right platform: Joe Mooney, Managing Director, Advisor Engagement and Enterprise Development at Concurrent Investment Advisors, explains the role of technology and more in building the right advisor platform, with attention to the needs of wirehouse breakaway advisors.
2025 Recruiting Predictions: Jason Inglis, Chief Revenue Officer at Sowell Management; Eddie Rollins, Managing Director at BridgePort Financial Solutions; and Vince Fertitta, President of Wealth Management at Sanctuary Wealth, predict RIA recruiting in 2025 and describe how their firms are preparing.
Pennsylvania purchase: Merit Financial Advisors acquired Pennsylvania-based Zimmermann Investment Management & Planning, with $739 million in client assets. Curt H. Zimmermann, President and Investment Advisor Representative, is joining Merit with his team. He and Tyler Vernon, Managing Principal at Merit, provided comments.
Fully acquired: Carson Group fully acquired Carson Wealth Cedar Rapids, which has about $1 billion in AUM. Russ Nieland, Managing Director, Partner and Wealth Advisor at Carson Wealth, who leads the firm, and Burt White, CEO of Carson Group, provided comments.
100% employee-owned: Pettinelli Financial Partners, an independent wealth manager affiliated with Stratos Wealth Partners, announced the completion of a multi-year strategic realignment, including a generational leadership transition and the transformation into a 100% employee-owned enterprise. President Jon Pettinelli commented.
Investing in communities: The Invest in Others Charitable Foundation announced the recipients of funding from its 2024 Grant Program which includes Grants for Good and Grants for Change, totaling $301,600.08 in support for 17 nonprofit organizations. R. Barkley Payne, CEO and President of Invest in Others, provided comments.
Attracting clients: David Scranton, Founder and CEO of Sound Income Group, authored a newly published book: “Attract & Grow: The Financial Advisor’s Blueprint for Attracting $50 Million in Annual Assets.” The book details Scranton’s approach to attracting clients.
International, UHNW recruit: Sanctuary Wealth recruited Hillguard Wealth Management, with $700 million in client assets, from Truist Wealth. The Hillguard team serves international, UHNW clients. Sanctuary CEO Adam Malamed and President Vince Fertitta provided comments.
Doubling in size: Mariner Wealth Advisors acquired Cardinal Investment Advisors, adding $292 billion in assets under advisement (AUA). Marty Bicknell, CEO and President of Mariner; Marc Tourville, President of Cardinal Investment Advisors; and Mike Welker, National Managing Director of Mariner Institutional, provided comments.
Make your voice heard with AcquireUp’s 2024 Financial Industry Survey, examining trends and practices within the financial advisory sector!
Join our active community on LinkedIn, and share our articles with your friends and colleagues!
We’re growing! WSR is looking for highly qualified and skilled freelance editors who have strong familiarity with the wealth management space. If that’s you, send your résumé and three recent writing samples to our Editor in Chief at jbuchanan@wealthsolutionsreport.com.
Larry Roth
CEO
Wealth Solutions Report
