While the M&A activity levels at the start of 2023 slowed somewhat, there have been several notable developments during the first half of the year that will shape M&A and valuations over the remainder of 2023 – and beyond. 

In this episode of the RIA Edge Podcast, Jessica Polito, Founder of investment bank Turkey Hill Management, talks with Mark Bruno about the drivers, motivators and market forces that have influenced M&A activity year-to-date. More specifically, Mark and Jessica discuss:

•  The quality and objectives of RIAs currently engaging in M&A
•  How M&A has evolved into a strategic growth tool for firms on the rise
•  Why valuations have remained strong despite headwinds in global markets and increasing costs of capital
•  The keys to a deal being successful “after the close”

Resources:

RIA Edge Podcast 

Connect With Mark Bruno:

• WealthManagement.com
• LinkedIn: WealthManagment.com
• LinkedIn: Mark Bruno
• Twitter: Mark Bruno
• LinkedIn: Informa

Connect With Jessica Polito:

• LinkedIn: Jessica Polito
• Turkey Hill Management

About Our Guest:

Jessica Polito founded Turkey Hill Management, LLC in 2021 after a long career in investment banking. Turkey Hill is built on the premise that there should be complete alignment between the M&A advisor and the wealth management client it serves. The company does not charge a “success fee” at the completion of a deal, as is done by most traditional investment banks. In doing so, the client can be assured that the advice given is unbiased and in the best interest of the client.

Jessica draws from her many years of buyside and sellside M&A experience in the wealth management space to ensure that every partnership is not just financially sound, but preserves the legacy of both sides of the deal. She lives in Westport, Connecticut with her husband and four small children. She received her Bachelors of Science in Business Management from Babson College with dual concentrations in Finance and Economics and holds her Series 79 and 24 licences. 

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This episode of the RIA Edge podcast provides advisors with a view into the trends that are influencing and impacting growth across the RIA landscape. 

Specifically, industry veteran Tom Bradley, Managing Director at Schwab Advisor Services, and Informa’s Mark Bruno provide benchmarks for growth rates and a high-level view of the “levers” that top firms are using to accelerate growth. In addition, it addresses some of the challenges even the most successful firms have experienced from their growth – and how they have set their firms up to solve for these issues and continue to grow their businesses.

Mark and Tom also discuss:

• 93% of firms in Schwab’s Outlook research expect to grow over the next five years, and the average growth rate of net new assets is 17%. What will differentiate the firms that outperform and exceed these expectations?
• If I am looking to assess the quality of my firm’s growth – and more specifically, my future growth potential – what questions should I be asking? How do I connect this with the potential investments I might need to make in human capital, technology, marketing, or business development?
• Many RIAs have doubled, or even tripled in size, over the last decade. What are some of the most common challenges that this growth as caused for firms?
• While thousands of RIAs have seen their assets under management swell over the last decade, “true growth” – growth excluding market appreciation and M&A – was incremental for many. What are the most successful firms in the industry doing to create intentional and repeatable growth?

Resources:

 RIA Edge Podcast 

Connect With Mark Bruno:

• WealthManagement.com
• LinkedIn: WealthManagment.com
• LinkedIn: Mark Bruno
• Twitter: Mark Bruno
• LinkedIn: Informa

Connect With GUEST:

• LinkedIn: Tom Bradley 
• Website: Schwab Advisor Services 

About Our Guest:

Tom Bradley is Managing Director for Schwab Advisor Services and oversees the division that provides custodial support services for independent Registered Investment Advisors with up to $2 billion in assets custodied at Schwab. He is also a leader in driving the ongoing integration between Schwab Advisor Services and TD Ameritrade Institutional.

Prior to joining Schwab, Bradley spent over three decades at TD Ameritrade, much of that time in the service of independent advisors. He served as president of TD Ameritrade’s Institutional business for 12 years prior to becoming president of the firm’s Retail Distribution unit, which is where he spent his last five years at the firm. He is a graduate of the University of Richmond’s Robins School of Business.

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While the need for financial advice – and the ability to access advice – has never been greater, most advisors still have not been able to capitalize on the growing number of opportunities. 

According to Steve Sanduski, advisor coach, CFP, New York Times Best-Selling Author and founder of the Sanduski Advisor Network, suggests that while it’s a bull market for advice, it has not been a bull market for financial advisors. In this episode of the RIA Edge podcast, Steve and Mark Bruno discuss how advisors can accelerate the growth of their businesses, specifically:

• How advisors can adopt the right mindset and framework for thinking about growth
• How advisors can kickstart true organic growth strategies
• How AI, generational change, and other factors will force advisors to revamp their business models/strategies to be competitive as we complete the waning years of the last baby boomers turning 65.

Resources:

 RIA Edge Podcast

Connect With Mark Bruno:

• WealthManagement.com
• LinkedIn: WealthManagment.com
• LinkedIn: Mark Bruno
• Twitter: Mark Bruno
• LinkedIn: Informa

Connect With Steve Sandusky:

• Steve Sanduski.com 
• LinkedIn: Steve Sanduski 
• Twitter: Steve Sanduski 

About Our Guest:

Steve Sanduski has 35-plus years of business experience includes:

• Working in Silicon Valley for Hewlett-Packard pre-internet days.
• Helping start a RIA that grew from $0 to $1.8 billion in AUM during my six years at the firm.
• Running Peak Advisor Alliance (now Carson Group Coaching) for 11 years as the Managing Partner as it grew from 0 to 1,000 financial advisor coaching clients.
• The co-founder and CEO of ROL Advisor, a digital tools and training company that serves hundreds of financial advisors in 11 countries.

On top of that, he’s been A CERTIFIED FINANCIAL PLANNER™ licensee since 1996, a New York Times Bestselling author, and currently hosts four popular podcasts with more than 700 published episodes.

Over the decades he has realized that his flow state is really a “Flow Wheel.” It’s the virtuous cycle of Learning, Translating, and Inspiring people to live a meaningful and financially sufficient life.

In practice, that means he’s a curious, voracious learner and doer who translates what he learns so he can inspire others through coaching, group training and tools, and his podcasts, books, and blogs.

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