No matter our age, at some point, each of us is or was an ambitious young professional new to the workplace and looking to build wealth and a financial future. As always, today’s Next Gen has novel views and needs. The wealth management industry must adapt to reach them, and this week marcoms veterans from Intention.ly, Craft & Capital and Impact Communications advise us on communications and marketing strategies for Next Gen prospects.
We also bring you our monthly Investments Roundup, weekly Deals & Recruiting Roundup, SEIA on serving elderly clients, Wealth Matters on how to keep clients during M&A, expert views on the reality for advisors after a recruiting transition, WiserAdvisor on converting leads, Savvy Wealth’s new recruits, Choreo on private markets, YourStake on ethical use of AI tools, Haven Tower’s new board member and Hightower’s latest investment.
Deals & Recruiting Roundup: This edition covers Hightower investing in Charles D. Hyman & Company, Confluence Financial Partners acquiring Cashdollar & Associates, Cerity Partners acquiring Abbrea Capital, Commonwealth partnering with Legacy Capitals on inheritances, Carolyn Armitage leading the new group RIA Circle, Diamond Consultants CEO Mindy Diamond releasing a book, Ritholtz Wealth Management CEO Josh Brown releasing another book, Cresset appointing Amy Hong as Chief Compliance Officer, Robertson Stephens hiring Mike Barnes as Head of Operations, Compound Planning expanding its leadership team, Homrich Berg hiring Joanna Irwin as CMO, and Morgan Stanley losing people to three rivals.
Investments Roundup: Meet our newest Investment Solutions Leader of the Month, Sean Walters, CEO of the Investments & Wealth Institute. We also cover BlackRock working with Partners Group, Voya agreeing to acquire OneAmerica Financial’s retirement plan business, Vestwell partnering with TIAA, iCapital partnering with Kestra and Advisors Asset Management, VanEck launching a fabless semiconductor ETF, Simplify launching an actively managed muni bond ETF, Tradr ETFs launching weekly and monthly leveraged ETFs, BetaNXT integrating with GlobeTax, Cerulli finding that asset managers are turning to AI, HFR launching a multi-manager/pod shop index, and J.P. Morgan integrating with Kyriba.
Next Gen prospects: We asked marcoms veterans Marie Swift, Founder and CEO of Impact Communications; Chris Sullivan, President at Craft & Capital; and Tina Powell, Partner and Chief of Community at Intention.ly, about the best strategies for advisors to reach prospective Next Gen clients.
Keeping clients during M&A: Rosemary Denney, CEO of Wealth Matters Consulting, explains steps to mitigate client attrition during M&A using effective communication techniques.
Serving elderly clients: Tom West, Senior Partner at Signature Estate & Investment Advisors (SEIA), addresses the needs of elderly clients in three important contexts: clients aging alone, elder abuse prevention and approaching successor decision-makers.
Reality after recruiting: Does the promise of the recruiting phase last after the ink dries? We address the question with Patrick Farrell, President and COO at Sound Income Group; Louis Diamond, President of Diamond Consultants; Neil Turner, Co-Founder and Co-CEO of NewEdge Advisors; and Lili Kaufmann, Head of Transitions at Sanctuary Wealth.
Leads not converting?: Rishi Bharathan, CEO of WiserAdvisor, walks us through successful strategies for converting leads in the areas of follow-up, conversation with prospects and online credibility, with an emphasis on quality over quantity of leads.
Recruits and funding: Savvy Wealth-affiliated RIA Savvy Advisors added two financial advisors: Drew Martino from Corebridge and Daniel Moore from TIAA. Martino and Moore provide comments. Ritik Malhotra, CEO and Founder of Savvy Wealth, comments on its recently closed $26 million funding round.
Private markets: As private markets become increasingly within reach of more clients, Mark Biegel, Managing Director, Wealth Management at Choreo, describes the complexities of private markets investing and solutions for advisors to provide these to clients.
Ethical use of AI: We discuss how wealth managers can leverage the many positives of AI, while maintaining industry ethical standards, with Gabe Rissman, Co-Founder and President of YourStake.
Florida investment: Hightower Advisors strategically invested in Florida-based Charles D. Hyman & Co., with $2.3 billion in assets. Hightower’s CEO and Chairman Bob Oros and Hyman & Co.’s President and Founder Charles Hyman provide comments.
Board appointment: Haven Tower Group appointed Chris Paulitz, a Consultant at Disability Specialists and former Head of Strategic Initiatives at the Financial Services Institute, to its Board of Advisors. Paulitz and Haven Tower CEO and Founder Joe Kuo comment.
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Larry Roth
CEO
Wealth Solutions Report
