Wealth management has many facets, but its essential core is the relationship between the advisor and the client. Wherever the advisor goes, most clients follow. Recruiters help advisors decide on their best course of action, plan for movement and execute transitions. This week we honor top advisor recruiters, who play a critical role and hold broad influence in our industry.
WSR Names FAR 10 – Top Financial Advisor Recruiters
This year, our FAR 10 – Top Financial Advisor Recruiters includes winners both from last year’s list and new, both in-house and at third-party firms.
The Pivotal Choice: Independence Or Employee Channel
How does an advisor choose between the independent and employee channels? We hear from veteran recruiters Jodie Papike of Cross-Search, Jeff Nash of Bridgemark Strategies, Michael Terrana of TERRANA GROUP and Louis Diamond of Diamond Consultants.
The choice between a W-2 or a 1099 is a central decision for advisors that shapes their careers and future – and the answer is unique to each advisor’s situation.
The Rising Cost Of Optionality
Eileen M. Burke of Leyster Capital explains why the question for many UHNW families has changed from preserving capital to preserving control, and makes the case for a rising cost to providing geographic options for this clientele.
We’re used to clients relocating to different cities or states, but in the world of UHNW they move to different countries, a much more complex process.
Kestra Survey: Only 6% Of Advisors Planning To Retire Have A Succession Plan
Only 6% of financial advisors planning to retire within 10 years have a fully documented succession plan, and one in three potential successors would consider leaving their firm without a clear succession timeline, according to a survey released by Kestra Financial and Bluespring Wealth Partners.
This survey is a wake-up call for advisors to get their succession plans in order.
Regtech Surge: Time To Consolidate Regtech Vendors
Sid Yenamandra of Surge Ventures describes how firms can consolidate their regtech vendors into a unified platform that covers cybersecurity, data infrastructure and compliance.
Yenamandra provides a comprehensive, in-depth list of needed functionality and items to look for when consolidating.
Deals & Recruiting Roundup
This week we cover acquisitions by Elevation Point, Apella, Allworth, Focus, DayMark, and Merit – plus an acquisition featuring consulting firms Compliance Risk Concepts and Oyster. We feature recruiting by Apollon, Compound and Commonwealth, as well as appointments by Orion and Snowden Lane.
As we approach the end of the second quarter, activity is still booming across the board. It’s noteworthy that Commonwealth, which is set to become part of LPL soon, isn’t just working to keep its advisors – it continues to recruit new ones.
RFG Advisory Launches Bluemonte ETFs To Solve ‘Real-World Challenges’
RFG Advisory announced the launch of Bluemonte ETFs, a suite of exchange-traded funds that the firm said were “designed to streamline portfolio construction, deliver consistent, client-aligned outcomes and enhance tax efficiency,” while working as a “complete asset management strategy.” The new ETFs are available to both RFG-affiliated advisors and those who are not.
With this bold move, RFG is now in the territory of investment product creation.
Apollon Expands Into Ohio By Picking Up $1.7 Billion Janney Team
Apollon Wealth Management announced it is expanding into Ohio with the recruitment of Chornyak & Associates, previously with Janney Montgomery Scott, that adds $1.7 billion in assets to Apollon.
Besides being a win for Apollon, this is also a win for Goldman Sachs Custody Solutions, which will be the primary custodian for Chornyak’s client assets.
World Adds Tech Tools From Holistiplan, FMG, Pontera And Forms Logic
World Investment Advisors added tech tools to improve services for tax planning, document management, retirement account trading, paperless account opening and client communication.
With new tools comes the need for new management. World also hired Sarah McGilton as Director of Platform Technology and Strategy.
Allworth Acquires $1.5 Billion Indianapolis Sister Advisory Firms
Allworth Financial said it acquired Indianapolis-based sister firms Salzinger Sheaff Brock and Sheaff Brock Investment Advisors, which manage over $1.5 billion in combined client assets.
Backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board, this is Allworth’s 42nd acquisition since 2018.
CAIS Launches Model Alts Portfolios, Expanding Platform Options
CAIS announced the launch of new model alternative asset portfolios provided by BlackRock, Carlyle, Franklin Templeton and KKR onto the CAIS Models Marketplace.
The new models all feature private assets, some with a public-private mix and others purely private. Assets range across equity, credit, real estate, infrastructure, private equity secondaries and asset-backed finance.
Reach our audience with your brand’s story. Explore Partnerships with WSR!
Join our growing LinkedIn community.
Larry Roth
CEO
Wealth Solutions Report
