To My Fellow WSR Community Members:
If I asked you what types of professions an industry needs to thrive, you may point to lawyers, compliance professionals, technology providers, marketers, accountants and others. Those are all true answers – but in most industries, including ours, you also need skilled investment bankers to move the massive engines of finance.
Although in wealth management we primarily focus on clients’ finances, our firms are subject to the same needs for capital and investment as the industries in which our clients invest. Those needs are served by a group of hard-working professionals who pair deep financial expertise with the wealth management industry’s uniqueness.
This week, we honor five outstanding investment banking veterans who serve our M&A needs with excellence and dedication. In addition, we bring you our latest Marcoms Roundtable, our weekly roundup of recruiting news, inspiration from two charitable organizations, trends that will require upgrades to executive leadership, incorporating tax services into holistic planning, insights on Sanctuary’s annual conference and our guide to asset management conferences.
This Week’s Issue
Here’s what we have for you this week:
- We present the M&A 5: Top Wealth Management M&A Investment Bankers in our Capital Connections section: Bruce Cameron, Partner and CEO of Berkshire Global Advisors; David DeVoe, CEO and Founder of DeVoe & Company; Gilbert Dychiao, Managing Director and Head of Financial Institutions Investment Banking at Oppenheimer & Co.; Peter Nesvold, Partner at Republic Capital Group, and Founder and Managing Partner of Nesvold Capital Partners; and Dan Seivert, CEO and Managing Partner of ECHELON Partners.
- Which firm’s valuation has exceeded $3 billion? In Newsmakers & Roundups, this edition of the Weekly Recruitment Roundup features Commonwealth recruiting R&R Wealth, tru Independence helping launch 44 North Capital, Johnson Financial Group acquiring The Appleton Group, Kestra’s Bluespring Wealth Partners acquiring LGBTQ+ focused Christopher Street Financial, Carlyle taking a minority stake in CAPTRUST, LaSalle St. tapping Live Oak Bank for strategic growth capital, LPL Financial expanding its Liquidity & Succession Program to non-affiliated advisors and Bryn Mawr Trust recruiting Jamie Hopkins.
- Is it time to upgrade your executive leadership? In Expert Resources, Berta Aldrich, President of Berta Aldrich Consulting, describes five major changes – the composition of the workforce, attitudes toward power, inclusion of women and people of color, transparency and the gig work revolution – that require changes to executives and executive mindsets.
- Which asset management conferences should you attend? In Investment Solutions & Gatekeepers, our latest entry in the Guide To Industry Conferences covers the MMI Annual Conference to be held from Oct. 11 to Oct. 13 in Austin, Texas; the Investments & Wealth Strategy Forum to be held from Nov. 28 to Nov. 30 in New York; and the Morningstar Investment Conference to be held from June 26 to June 27 next year in Chicago. We explore the speakers, topics and sponsors at each event.
- Thinking of onboarding or working closer with CPAs? In Words In Edgewise, Grant Van Horn, an Executive Director on the M&A team at Hightower Advisors, explains what advisors and their firms should consider when deciding how to incorporate tax advice into a holistic investment, estate and financial planning process for their clients.
- How should you communicate in a crisis? Three wealth management communications experts advise us on crisis communications strategies in our latest Marcoms Roundtable in the Wallet Share section: Chris Sullivan, President of Craft & Capital; Madison Elkin, VP, Public Relations at FiComm; and Jennifer Connelly, Founder and CEO of JConnelly.
In case you missed it, last week we brought you two stories in Newsmakers & Roundups that encourage us to do more with our time and talents, and one in Upmarket delivering perspectives on an advisor conference:
- Which advisors received recognition for outstanding charitable service? Invest in Others named winners in five categories at its 17th annual Invest in Others Awards and made charity grants totaling $740,000. Winners were named for the Lifetime Achievement Award, the Catalyst Award, the Community Service Award, the Impact Award and the Volunteer of the Year Award.
- Why should your firm encourage pro bono? A report from the Foundation for Financial Planning (FFP) based on a survey of CFP holders makes the case for pro bono financial planning from the moral, business and professional development viewpoints. FFP CEO Jon Dauphiné and Edelman Financial Engines Chief Client Officer Jason Van de Loo provide commentary.
- Why should you attend a conference? Sanctuary Wealth is hosting its annual conference this week, and the firm’s Co-President Vince Fertitta explained the goals of the conference. Gerry Spitzer, Founding Partner of Questar Capital Partners, addressed the importance of attending conferences in person and Kelly Milligan, Managing Partner at Quorum Private Wealth, gave views on the importance of independence.
The annual T3/Inside Information Software Survey is ready to bring your voice to the wealthtech world. Results will be revealed at the T3 Advisor Conference in January.
We enjoy hearing your ideas, views and questions for experts!
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Cheers!
Larry Roth
CEO
Wealth Solutions Report
