For an M&A deal, often people focus on the multiple, valuation, payout and other financial metrics. But M&A has many complications for both buyers and sellers that go far beyond money into deal terms, regulation and more. The right lawyers are necessary to highlight and solve a multitude of issues that directly impact both parties during and after the transaction. This week, my quarterly review of M&A examines the role of legal counsel with three experienced wealth management attorneys.
Should Wealth Management Firms Build Out Internal Compliance Staff Or Bring On Outsourced Compliance Services?
Sander Ressler of Essential Edge presents a white paper examining whether compliance needs should be outsourced or met internally. He explores technologies, work paradigms, compliance and employment costs, and outsourcing tools.
Ressler’s paper presents a cost-benefit analysis on outsourcing compliance and sets out benefits of outsourcing that go beyond cost savings.
Docupace’s George: Execution Is The New Alpha In Wealth Management
Ryan George of Docupace makes the case that the differentiator in wealth management is no longer traditional “alpha.” Instead, operational excellence is the alpha that firms must demonstrate.
“Alpha, in the traditional sense, has become table stakes. Execution is what earns trust,” said George, who unpacks how firms can differentiate themselves in the modern landscape.
Seek Effective Legal Counsel For M&A Deals
In my quarterly review of M&A, I address the role of legal counsel and how to find the right ones for wealth management M&A deals with Scott Matasar of Matasar Jacobs, Craig Sklar of Seward & Kissel and Andrew Melnick of Davis Wright Tremaine.
The only way to go into an M&A deal with eyes open is to stand on the shoulders of the right lawyers, who raise client awareness of and manage multiple legal issues.
Ascentix And SurgeONE.ai Host Inaugural WealthLOGIQ Leadership Event
Ascentix Partners and SurgeONE.ai hosted the inaugural WealthLOGIQ dinner at the Harvard Club of New York, with WSR as the event’s official media partner. The invitation only event brought together wealth management C-suite executives, enterprise decision makers and private capital providers to discuss AI and its impact on regulatory and compliance issues.
Ascentix plans to continue with WealthLOGIQ events as a series of curated, invitation only dinners for leading executives.
Flexible Independence – A Key Advantage Amid Overlooked Opportunities
Greg Cornick of Osaic makes the case that advisors need independence and flexibility to best capture the opportunities happening in the Great Wealth Transfer.
Cornick examines how flexibility improves asset portability, scalable technology, open architecture solutions, customization and accommodation to change.
Deals & Recruiting Roundup
This week’s roundup covers acquisitions by Cerity, Creative Planning, SEIA, GTCR and Beacon Pointe; BharCap staking GCG; recruiting by LPL and Sanctuary; Betterment’s partnership with Vanilla; Altruist’s partnership with Ritholtz; appointments by Realta and AssetMark; and Mark Casady’s new role at FMG.
This week we’re seeing movement in the boutique custodian space with the Betterment and Altruist announcements.
Investments Roundup
This month’s Investments Roundup features ratings for semiliquid funds, self-directed accounts, donor-advised funds, digital asset funds, alts, an agentic AI ETF, public-private investments, a private credit fund and more.
Hedge fund performance also showed strong gains, with HFR’s main index up 2.3% for the month and 7% for the year.
Sanctuary Recruits Lincoln Advisor Through Enterprise Partner Program
Sanctuary Wealth recruited advisor Richard LeSavoy from Lincoln. LeSavoy joined Sanctuary affiliate Centeras Private Wealth through Sanctuary’s Enterprise Partner Program.
Providing education and assistance for affiliates to tuck in advisors is working for Sanctuary.
Cerity To Buy $4.5 Billion Albany Advisory Firm Graypoint
Cerity Partners is acquiring Graypoint, an Albany, New York–based RIA with $4.5 billion in AUM. Cerity aims for a Sept. 30 close for the transaction.
Cerity’s inorganic growth strategy has now brought it to $133 billion in AUM.
SEIA To Buy $1.6 Billion California RIA
Signature Estate & Investment Advisors (SEIA) agreed to acquire Select Money Management, an Aliso Viejo, California, RIA with about $1.6 billion in AUM.
SEIA received backing from Reverence Capital Partners in 2022 and has been implementing a growth strategy by acquisition since then.
Lincoln And Bain Launch Fund Giving Individual Investors Access To Private Credit
Lincoln Financial and Bain Capital announced the launch of the Lincoln Bain Capital Total Credit Fund, an evergreen private market fund they developed together containing a portfolio of private credit investments.
Private credit is one of the key areas in the push to bring private markets investments to wider investor groups.
Industry Veteran Mark Casady Joins FMG As Executive Chairman
Former LPL Financial CEO and Chairman Mark Casady joined martech firm FMG Suite as Executive Chairman as private equity firm GTCR completes its acquisition of FMG.
GTCR’s placement of Casady in this role signals they are serious about growing FMG.
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Larry Roth
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Wealth Solutions Report
