Just as small, independent advisors form a large portion of the wealth management industry, small businesses form a large portion of the economy, generating wealth across a multitude of small business owners. It’s an opportunity for advisors to grow organically, and for business owners to receive advice and planning from people who relate to them. We spoke with marcoms executives at JConnelly, Graham and Vocatus about how advisors can approach small business owners.
In addition, this week we bring you our weekly Deals & Recruiting Roundup; monthly Investments Roundup; executive hires by Realta, FusionIQ and Perigon; MAI’s acquisition; BlackRock’s and J.P. Morgan’s investment in Dynasty; the launch of Family Office Resource Group; F2 Strategy’s CRM findings; and Opto’s partnership with EP Wealth.
Also, look for our coverage of the Money Management Institute’s Annual Conference, which is happening now.
Deals & Recruiting Roundup: This edition covers Cetera agreeing to acquire Concourse from Protective, Cresset acquiring CH Investment Partners, Allworth acquiring George McKelvey Company, Cerity Partners merging with SBC Wealth Management, MAI buying Halpern Financial, Robertson Stephens acquiring CAFG Private Wealth, BlackRock and J.P. Morgan Asset Management investing in Dynasty, Oppenheimer recruiting advisors in three states, Equitable Advisors recruiting Hamada/Kim Financial, Family Office Resource Group launching its services platform, Perigon hiring David Scarpello as Chief Financial Officer, and Realta Wealth appointing Paul Tyler as Director of Business Development.
Investments Roundup: Meet our newest Investment Solutions Leader of the Month, Matt Markiewicz, Head of Product and Capital Markets at Tradr ETFs. We also cover Orion launching Brinker Capital Group ETF Model Portfolios, Opto partnering with EP Wealth, iCapital partnering with Bridge Investment Group, Easterly Asset Management launching the Easterly ROC Municipals team, Commonwealth enhancing Preferred Portfolio Services Select, TradingBlock debuting its executing broker-neutral platform, First Eagle Investments launching active ETFs, Morningstar releasing its annual Voice of the Asset Owner survey, Cerulli finding institutions reallocating toward private markets, HFR reporting on gains by event-driven hedge funds, and J.P. Morgan working with GLMX and Advisory Services Network.
Reaching small business owners: What are the best marcoms strategies for advisors to reach small business owner clients and prospects? Experts James Doyle, President of JConnelly; Lisa Graham, CEO and Co-Founder of Graham Media Partners; and Ray Hennessey, CEO of Vocatus, share their insights on how advisors can best develop small business owners from prospects to new clients.
MAI expands: MAI Capital Management acquired Halpern Financial, an independent RIA with $1.2 billion in AUM. The acquisition, effective Oct. 4, expands the presence of Cleveland-based MAI across Florida, Maryland and Virginia. Halpern Financial President Ted Halpern and MAI Executive Chairman Rick Buoncore provide comments.
Recruiting leader hire: Realta Wealth appointed Paul Tyler, formerly of Ameriprise, as SVP, Director of Business Development, to lead the firm’s recruiting efforts. Tyler will report to CEO Kevin Keefe.
A new CFO and executives: Perigon Wealth Management added David Scarpello as Chief Financial Officer, Brian McGunnigle as Director of Operations and Debra Dunham as Director of Transitions and Integrations. McGunnigle’s and Dunham’s roles are newly created. CEO Arthur Ambarik comments, along with Scarpello.
CRM research report: Despite improvements in CRM systems, financial advisors and others in the wealth management industry remain dissatisfied with their CRMs, according to the findings of F2 Strategy’s “Benchmark Report: Wealth Management’s Satisfaction with CRMs.”
Minority capital raise: BlackRock and J.P. Morgan Asset Management are the latest investors in Dynasty Financial Partners. Several of Dynasty’s long-standing investors and members of its Board of Directors supported the minority capital raise, along with three strategic investors, including existing investor Charles Schwab. Dynasty CEO and Founder Shirl Penney provides comments.
Family office platform: Family Office Resource Group (FORG) announced its launch and an investment by capital provider 4100FS. FORG provides offerings for wealth management professionals to serve ultra-high net worth clientele. FORG Founder and CEO Brian Weiner, and Daniel Bryant, FORG Executive Chairman and Principal at 4100FS, provide comments.
Private markets access: EP Wealth Advisors entered into a partnership with Opto Investments to enhance EP Wealth’s private markets offerings for its ultra-high and high net worth clients. EP Wealth’s Managing Director of Investments, Adam Phillips, and Opto’s CEO, Ryan VanGorder, provide comments.
New CEO: FusionIQ announced the appointment of Eric Noll as CEO, its securing of a new round of funding and the appointment of new Directors. Noll is also the Chairperson and Public Governor of FINRA’s Board of Governors.
Keep up with the latest on LinkedIn, and let us know your questions, ideas and suggestions!
Larry Roth
CEO
Wealth Solutions Report
