The role of chief financial officer only increases in importance as our industry’s complexity increases, demanding excellence across a range of skills and capabilities. This week, we name five accomplished, outstanding financial executives to our third annual CFO 5 – Top Wealth Management CFOs.
We also bring you our weekly Deals & Recruiting Roundup and monthly Wealthtech Roundup, CAIS’ alts model marketplace, Cambridge’s new CTO, World’s model platform launch, AlphaCore’s acquisition of Callan Capital, Dynasty partnering with Goldman for custodian services, Caprock transitioning its impact reporting platform to BlueMark, and Robinhood announcing offerings including wealth management, estate and tax planning and trading tools.
Top CFOs: We honor the top CFOs in the wealth management industry: Mark Mayo of Orion Advisor Solutions, David Scarpello of Perigon Wealth Management, Suk Shah of Cerity Partners, David Shane of Binah Capital and Leon Weiss of Docupace.
Deals & Recruiting Roundup: This edition of the Deals & Recruiting Roundup covers CW Advisors’ acquisition of Delta and Leathe & Associates, Waverly’s purchase of GGM Wealth Advisors, Bluespring’s acquisition of Charter Capital Management, Wealth Enhancement’s purchase of Marcum, AlphaCore’s acquisition of Callan Capital, Integrity’s purchase of The Quantum Group, People & Co. joining Commonwealth Financial, Stratos recruiting $3.5 billion in assets last year, LPL onboarding Austin Greer, Dynasty partnering with Goldman Sachs for custody, BridgePort’s alliance with NewEdge Wealth and Cambridge’s appointment of Sean Van Moorleghem as CTO.
Wealthtech Roundup: In this edition of the Wealthtech Roundup, our Wealthtech Leader of the Month is Brady Beals, Director of Investment Solutions at Luma Financial Technologies, and we feature YCharts’s AI Chat, TradingBlock’s customizable trading platform for retail investors, Docupace acquiring Hubly, PureFacts adding three executives, Savvy Wealth hiring Eric Hurkman as CTO, Raymond James appointing its first Chief Artificial Intelligence Officer, Ritholtz’s CEO investing in FINNY AI, T3’s software survey, BetaNXT and Fi-Tek partnering, Flourish acquiring Sora Finance and Cerulli’s wealth management technology report.
Alts models marketplace: CAIS Group launched CAIS Models Marketplace, which is designed to streamline access to alternative investment model portfolios. Neil Blundell, Chief Investment Officer at CAIS Advisors and Head of Investments at CAIS, commented.
New CTO: Cambridge Investment Research added former Charles Schwab and TD Ameritrade executive Sean Van Moorleghem as Executive Vice President and Chief Technology Officer. Colleen Bell, President of Innovation and Experience at Cambridge, commented.
Southern California acquisition: AlphaCore Wealth Advisory is acquiring Callan Capital, a San Diego-based firm with $2.4 billion in assets, led by Ryan, Tim and Trevor Callan, its Managing Partners. Tim and Trevor Callan commented, along with Dick Pfister, CEO and Founder of AlphaCore, and Aidan Walsh, Head of Corporate Development at AlphaCore.
Model platform launch: World Investment Advisors announced the launch of an open-architecture model platform, World Managed Account Platform (WorldMAP). Lauren Yeaton Hunt, SVP of Wealth Platforms and Partnerships, will lead the platform. Yeaton Hunt provided comments, along with the firm’s CEO, Troy Hammond, and CIO, Nate Garrison.
Custodian partnership: Dynasty Financial Partners announced a strategic collaboration with Goldman Sachs in which Goldman Sachs Custody Solutions has become one of the preferred custodians for Dynasty’s independent RIA network. Comments were provided by Shirl Penney, CEO and Founder of Dynasty; Marc Hineman, Dynasty’s COO; and Adam Siegler, Partner and Head of OneGS RIA Strategy and Retail Client Segment at Goldman Sachs.
Advisors’ new competition: Robinhood made major moves into the wealth management space with current and upcoming launches of wealth management services, private banking services including tax and estates, and an AI-based trading tool. Vlad Tenev, CEO and Chairman of Robinhood, and Steph Guild, President, Robinhood Asset Management and Senior Director of Investment Strategy, Robinhood Financial, provided comments.
Impact reporting: Caprock will transition its impact reporting platform to BlueMark, in a deal expected to bring Caprock’s platform to broader markets. Sarah Gelfand, President of BlueMark; Christina Leijonhufvud, CEO of BlueMark; and Mark Gustafson, Managing Director at Caprock, provided comments.
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Larry Roth
CEO
Wealth Solutions Report
