RIA Ritholtz Wealth Management announced Friday that it rolled out an employee-led succession plan with the purpose of preserving the firm’s independence, supporting continuity and increasing ownership among its employees.
As part of the transition, 29 of the firm’s employees now have an ownership stake in Ritholtz Wealth Management, which it said formalizes its next generation of leadership.
The transition, which expands the ranks of shareholders to include its Co-Founders, financial advisors and other key personnel, has been in the works for the past decade, according to the firm. It will continue to operate under its namesake brand.
The ownership transition, which was executed without any outside capital, became effective on Jan. 1, a company spokesperson told WSR by email.
“For several years, the firm has steadily expanded employee ownership, with approximately one to three employees becoming shareholders each year,” he said.
Now, employees from management, advisors, compliance, client services and other departments have been and are shareholders.
Under the transition, Ritholtz will remain as Chairman and Chief Investment Officer.
“Barry has no plans to retire any time soon,” the spokesperson said.
According to the firm, Ritholtz will continue to play a key role in shaping its investment philosophy and its public voice, including blogs, books and podcasts.
Ritholtz will continue to play a key role in shaping the firm’s investment philosophy and its public voice.
Day-to-day leadership of the firm will continue under Co-Founders Josh Brown, its CEO; Michael Batnick and Kris Venne, Managing Partners; and Jay Tini, its President.
Ritholtz said, “Expanding ownership to more of our people keeps this firm one hundred percent independent, aligned and focused on the only thing that matters — doing right by our clients. That’s the model that got us here, and it’s the model that will carry us forward.”
Noting that he turns 65 in 2026, Ritholtz said, “I wanted all of our clients, employees and partners to understand that we have a plan to continue forever, without private equity dollars, regardless of my age. This structure is a key part of that plan.”
He added, “The work we have done – and will continue to do – will always focus on education, planning, asset allocation, taxes, costs and discipline.”
“When we launched the firm, Barry and I were involved in day-to-day management by default,” recalled Brown.
Brown said, “From the very beginning, our goal was to answer to clients – never outside owners. This transition keeps ownership and leadership exactly where they belong: with the people who live the culture every day.”
The company was founded in New York City in 2013. It now oversees over $7.6 billion in assets under management (AUM) for high net worth clients and institutions, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
