WealthStream on Thursday announced the appointment of Larry Roth to its Strategic Advisory Board, saying the industry veteran will advise the firm’s leadership team on enterprise strategy, market development and strategic partnerships as WealthStream expands its work with wealth management organizations.
Roth is Founder and Managing Partner of wealth management strategy consultancy Ascentix Partners, as well as Founder and CEO of Wealth Solutions Report. He previously served as CEO of Advisor Group (now Osaic) and Cetera Financial Group. He also serves as a Senior Advisor to Berkshire Global Advisors.
WealthStream uses AI to help wealth management firms make experienced advisors’ planning judgment and reasoning available across their organizations.
“Larry combines the experience of running major wealth management organizations with a current view of where the industry is headed,” Dan Daum, its Founder and CEO, told Wealth Solutions Report by email. “He has led Advisor Group and Cetera, and through Ascentix he’s working directly with decision-makers on growth, scale and how technology will shape their businesses.”
“He understands the practical demands of leading these firms and the choices they’re making about their future,” Daum continued. “That perspective is especially valuable as we scale WealthStream and help firms expand the depth and reach of their advice.”
“The firms that lead the next era of wealth management will be the ones that can grow without compromising the quality and consistency of their advice,” Roth said in the release.
Roth’s addition expands WealthStream’s Strategic Advisory Board to five members, Daum told WSR. Roth joined as an additional member and did not replace anyone.
The other board members are John Vaccaro, former Head of MassMutual Financial Advisors; Stuart Rubinstein, former President of Fidelity Wealth Technologies; Shane Morrow, Founder, Managing Partner and CEO of IronBridge Wealth Counsel; and Sarah Mouser, Executive Vice President of Financial Planning at Merit Financial Advisors.
“From the beginning, we’ve been intentional about bringing together people with deep industry experience to help guide WealthStream,” Daum said. “That includes practitioners advising clients every day and leaders who have built and run wealth management organizations. Our ambition is for WealthStream to set the standard for how wealth management firms develop, deliver and manage advice at scale. Larry brings the experience to help us get there.”
Roth added, “What stands out about WealthStream is that it helps advisors recognize more planning opportunities and understand the reasoning behind each recommendation. That deepens client relationships and can help accelerate the development of next generation advisors.”
Daum said WealthStream works with other advisors to the business who serve separately from the Strategic Advisory Board.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
