In my experience – and I would venture to say in yours also – advisors and professionals are generous people who want to give to worthy causes both financially and with time and skills. This week, Jessica Dunham backs that up with data and experience she has gathered in leadership at Invest in Others. She examines advisor volunteering from multiple angles – unpacking how it strengthens advisors, clients and communities.
In addition, we bring you our Deals & Recruiting Roundup, our Guide to Industry Conferences: Custodian edition, Sanctuary’s recruitment of 1280 Financial, the launch of SurgeONE.ai, Hightower’s stake in Lindbrook Capital, NFW Advisory rebranding as Artisan Capital, Carson Group and Raymond James announcing AI-based advisor tools and Sowell Management partnering with Goldman on allocation strategies.
Volunteering: Jessica Dunham, Chief Operating Officer of Invest in Others Charitable Foundation, reviews the trend in professional volunteering and how it is reshaping wealth management.
Deals & Recruiting Roundup: This edition covers HUB receiving a $1.6 billion minority investment, iCapital buying Citi Wealth’s alts platform, Hightower staking Lindbrook, Addepar raising Series G funding, NWF rebranding as Artisan, Sanctuary recruiting 1280 Financial Partners, Raymond James adding a Connecticut advisor, Osaic recruiting five credit unions, NewEdge Wealth adding Hudson Wealth, Sowell partnering with Goldman, Rothschild appointing a Chief Growth Officer and Emigrant hiring a Head of Family Office Services.
Custodian conferences: Our latest Guide to Industry Conferences covers the two leading custodian conferences: Charles Schwab’s IMPACT and BNY Pershing’s INSITE. Our conference guides provide you with the details you need to know to decide among the wide range of conference choices available to wealth management professionals.
Breakaway launch with minority stake: Sanctuary Wealth recruited $2 billion 1280 Financial Partners from UBS and helped it launch as an independent firm through a minority stake. Tom Burt, Managing Partner and Senior Portfolio Manager at 1280 Financial commented, along with Sanctuary’s President Vince Fertitta and CEO Adam Malamed.
AI regtech: Surge Ventures launched SurgeONE.ai, combining capabilities of its RegVerse, Kovair and Security Snapshot companies into a unified platform serving firms with compliance, cybersecurity and data services. Sid Yenamandra, Founder and CEO of Surge Ventures, and CEO of SurgeONE.ai, commented.
New York and L.A. acquisition: Hightower invested in RIA Lindbrook Capital, which has about $3.8 billion in AUM and offices in Calabasas and Los Angeles, California, and New York City. The Lindbrook team is led by Managing Partners Benjamin Posen and Tyler Dritz, along with Partner Lee Samson. Hightower CEO and Chairman Bob Oros commented.
RIA rebranding: Los Angeles-based NWF Advisory Group, a hybrid RIA with $8 billion in assets under administration as of Dec. 31, has rebranded as Artisan Capital Partners. CEO and President Shehab Mohammad comments.
AI for advisors: Carson Group and Raymond James announced AI-based tools for advisors. Carson launched its Steve AI assistant, and Raymond James rolled out Zoom AI Companion. Andy Zolper, Chief Information Officer at Raymond James; Dani Fava, Chief Strategy Officer at Carson Group; and Sarah Stormberg, VP, Product Strategy at Carson Group commented.
Allocation partnership: Sowell Management partnered with Goldman Sachs Asset Management and GeoWealth to provide exclusive allocation strategies for HNW clients. Sowell President Daryl Seaton and Alexandra Wilson-Elizondo, Co-Head and Co-Chief Investment Officer at Goldman Sachs, commented.
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Larry Roth
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Wealth Solutions Report
