Tag: Wealth Management

RIA Edge Podcast: DFA’s Catherine Williams: 2023 RIA M&A Gamechangers

RIA Edge Podcast: DFA’s Catherine Williams: 2023 RIA M&A Gamechangers

Uncover the latest trends shaping the M&A sphere in 2023, driving strategic decisions and future success.

In this RIA Edge episode, Mark Bruno, managing director of the wealth management group at Informa talks with Catherine Williams, head of practice management at Dimensional Fund Advisors, about the changes in the M&A landscape and the noticeable shifts compared to previous years due to market challenges, changing talent dynamics, and client demands. Notably, deal valuations remain strong, but deal structures are becoming more flexible to help sellers rebound from market disruptions.

Specifically, Mark and Catherine discuss:

  • Changes in deal-making and deal structures – and how they are impacting buyers and sellers.
  • M&A as a tool to drive growth and regional expansion.
  • Talent-focused deals where acquiring talent is a priority, addressing demographic shifts and ensuring sustainable growth.
  • The pace and outlook for RIA M&A deal activity in 2024 and beyond.

Resources:

RIA Edge Podcast
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About Our Guest:

Catherine Williams is Head of Practice Management at Dimensional. Based in the Charlotte office, Catherine delivers benchmarking and practice management insights to advisors. Prior to joining Dimensional, she spent more than 20 years in the investment industry, including serving as chief operating officer for a large RIA. Most recently, Catherine offered strategic and executive coaching to investment advisors as an executive business coach with the Carson Group and as vice president of practice management and consulting with Fidelity Investments.

Catherine studied broadcast journalism and has focused her professional learning on leadership development, which includes coursework through Babson Executive Education. She has served as an advisory board member for the Center for Investment and Wealth Management at the UCI Paul Merage School of Business, and as a coach/mentor for the G2 Leadership Institute. Catherine hosts the Dimensional podcast series Managing Your Practice, which was created to provide insights that help advisors with all aspects of their businesses.



RIA Edge Podcast: Lido’s Ken Stern on Navigating Growth and Culture in Wealth Management

RIA Edge Podcast: Lido’s Ken Stern on Navigating Growth and Culture in Wealth Management

This era in wealth management has seen unparalleled growth opportunity. Lido Advisors has embraced this golden age of shifting demographics and technological advancements to be one of the fastest growing and successful firms in the industry. 

In this episode of the RIA Edge podcast, Mark Bruno, managing director of the wealth management group at Informa, and Ken Stern, president of Lido Advisors talk about Lido’s growth and strategies in the wealth management industry. Ken shares how Lido emphasizes a client-first approach and values cultural alignment in partnerships and acquisitions. Specifically, Mark and Ken discuss:

  • Clear value proposition and its importance as a driving factor for successful growth
  • The significance of organic growth, utilizing existing clients as valuable sources of referrals and business expansion opportunities
  • Mergers and acquisitions (M&A) and the need for cultural alignment when considering partnerships or acquisitions
  • The role of technology, AI, and digital strategies in reaching a wider audience

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About Our Guest:

Ken Stern is President of Lido Advisors. Ken is focused on executing Lido’s vision in growing Lido Advisors into a nationally recognized leader in advanced wealth management and investment strategy. After working with and helping grow various financial institutions, Ken saw a need for a client-centric financial advisory firm focused on comprehensive planning and dynamic investment management. As a result, he founded both Asset Planning Solutions, Inc. and Ken Stern & Associates. 

Ken has authored seven personal finance books and appeared in or been quoted on several TV and radio shows including “The Today Show,” CNBC, and CNN. Authored books include: “To Hell and Back,” “Pounce,” “Secrets of the Investment All-Stars,” “Senior Savvy,” “50 Fabulous Places to Retire in America,” “Safeguard Your Hard Earned Savings” and “Secrets of the Investment All-Stars.” 

Ken is an Alumnus of Harvard Business School, is a Certified Financial Planner and speaks extensively on wealth transfer, alternative investments, and legacy planning. Originally from Farmington Hills, MI, Ken enjoys spending time with his family, traveling, skiing, public speaking, writing, and reading.



RIA Edge Podcast: Perigon’s Arthur Ambarik: The Journey to Build a $6BN RIA

RIA Edge Podcast: Perigon’s Arthur Ambarik: The Journey to Build a $6BN RIA

This episode of the RIA Edge podcast features a conversation between Mark Bruno, Managing Director of Wealth Management Group at Informa, and Arthur Ambarik, CEO of Perigon Wealth Management. The discussion delves into  Perigon’’s unique position and model within the RIA channel, as well as the  primary contributors to its impressive growth trajectory. Arthur shares the story of Perigon’s evolution from a small firm with under $150 million in assets under management (AUM) to its current status of around $6 billion in AUM.

Specifically, Mark and Arthur discuss:

  • Perigon’s distinct business model, emphasizing a blend of autonomy and collaboration.
  • How Perigon bridged the gap between traditional consolidator and enterprise firm models, fostering an environment where advisors could bring diverse skills to the table and create a better client experience.
  • Key industry trends, including mergers and acquisitions (M&A) activity and the battle for talent. 
  • Arthur reflects on the challenges of growth, particularly during the COVID-19 pandemic, and the importance of building a strong team with specialized roles like COO, CCO, and CTO to manage the firm effectively.

Mark and Arthur also discuss the growth journey through acquisitions, strategic partnerships, and attracting like-minded professionals. He acknowledges the competitive landscape in the RIA industry and offers insights for firms aspiring to grow and professionalize their operations. Overall, the conversation provides valuable lessons on managing human capital, adapting to unique challenges, and building a successful RIA firm amid evolving industry dynamics.

Resources:

RIA Edge Podcast

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About Our Guest:

Arthur Ambarik, CFP® is Chief Executive Officer of Perigon Wealth Management. Since joining Perigon in 2013, the firm’s assets under management have grown to more than $4.8* billion from less than $150 million. He has overseen several recent acquisitions including PM Wealth Management, Nauset Wealth Management and Stakeholders Capital.

Arthur brings more than 20 years of years of experience to his role with Perigon including advisory and operational positions he held previously with Ameriprise and LPL. He has been named to the Forbes Best in State Wealth Advisors for California in 2021 and 2022 and is a member of the Financial Advisor IQ Leadership Council. Perigon’s accolades include being named to the Financial Times Top 300 RIA 2020, RIA Channel ® Top 50 Wealth Managers by Growth 2022, Forbes Top 100 RIA 2022 and USA Today Best Financial Advisory Firm 2023 lists.

Arthur holds a B.A. in Economics from Williams College.



RIA Edge Podcast: Cresset’s Liz Nesvold: From Deal-Maker to RIA Gamechanger

RIA Edge Podcast: Cresset’s Liz Nesvold: From Deal-Maker to RIA Gamechanger

Following a remarkable period of M&A activity in the RIA industry, one of the star bankers in the industry has made the leap from leading deals to leading one of the largest RIAs in wealth management. 

 In this special episode of the RIA Edge Podcast, host Mark Bruno, the Managing Director of the Wealth Management Group at Informa, engages in a fascinating dialogue with Liz Nesvold, a renowned investment banker with a 30-year career in the industry.

Recorded live at the RIA Edge Conference, this episode offers an exclusive peek into Liz’s recent transition from investment banking to her new role as President of Cresset, one of the fastest-growing and most successful RIA firms. Together, they explore the motivations behind her move and delve into the opportunities within the RIA space, drawing from Liz’s vast experience advising on major transactions and working with top-tier investment firms.

Throughout the conversation, they touch on various topics including:

  • The current state of mergers and acquisitions, along with RIA valuations
  • Opportunities to accelerate growth in the RIA channel 
  • The challenges and opportunities associated with talent acquisition. 
  • Liz’s deep insights and unique perspective shed light on the evolving landscape  

Resources:

 RIA Edge Podcast

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About Our Guest:

Throughout her 30-year career, Liz has served as a trusted consultant and investment banker, providing exceptional advice to her clients across business strategy, succession planning, integration, and growth.

Liz is a founder and CEO herself, having launched and built the investment bank Silver Lane Advisors with several talented partners, including her husband, Peter Nesvold. Under Liz’s leadership, Silver Lane became a widely recognized leading RIA M&A firm, which was sold to a Fortune 500 company in 2019. Liz remained a Managing Director and Head of Asset and Wealth Management Investment Banking until joining Cresset.

Among her many recognitions, Liz was recognized as a Woman to Watch by InvestmentNews in 2019 for her leadership in the financial advisory industry. She has also been an active champion and advocate for women in financial services throughout her career and is a member of CHIEF, 100 Women in Finance, and Young Presidents Organization. She serves as the independent director on the board of ClientWise, which she recapitalized with Northwestern Mutual Future Ventures Fund.

Liz earned a Bachelor of Arts from Binghamton University and an MBA in Finance with high honors from Fordham University Gabelli School of Business.



RIA Edge Podcast: Halbert Hargrove’s JC Abusaid: Building the ‘RIA of Choice’

RIA Edge Podcast: Halbert Hargrove’s JC Abusaid: Building the ‘RIA of Choice’

Building an RIA firm that can successfully attract, retain and develop top talent – and ultimately become the “RIA of choice” in a specific market — is no easy feat. But one firm, Halbert Hargrove, for years has been building bridges from G1, to G2 and even G3 talent. In the process the firm’s experiences has created a bit of a roadmap for other RIA firms to learn from and follow as they look to expand their talent base. 

In this episode of the RIA Edge podcast, JC Abusaid, the President and CEO of Halbert Hargrove, talks with Mark Bruno about the key lessons learned from the firm’s organic growth and human capital growth. Specifically, Mark and JC discuss:

  •  The importance of internships and structured programs to develop talent
  •  Designing a firm that is structured to grow organically – with consistency – across the organization
  •  The importance of advanced succession planning
  •  How firms can successfully expand their networks and attract new talent

Resources:

 RIA Edge Podcast

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About Our Guest:

As CEO and President of Halbert Hargrove, JC is guiding the firm confidently into the future. Execution and operational excellence are his bywords; we consider him our glue. He formally took the helm of CEO in December 2021. For many years, working alongside Chairman and HH founder Russ Hill, JC has had the privilege to be involved in most facets of the firm, and has enjoyed being part of HH’s growth and success.

JC enjoys the dynamic nature of his role: “I like solving big challenges,” he says. He joined HH as Operations Manager in 1996 and was named President and Chief Operating Officer in 2010.

JC earned his Bachelor of Science in Business Administration with a Finance emphasis from the Colegio de Estudios Superiores de Administracion in Bogota, Colombia, and his MBA from University of Redlands School of Business. He was awarded the ACCREDITED INVESTMENT FIDUCIARY™ designation by the University of Pittsburgh-affiliated Center for Fiduciary Studies.

In 2016, JC was part of Stanford University’s pioneer cohort in earning a LEAD Certificate in Corporate Innovation from Stanford Graduate School of Business. In 2021, he was again part of an inaugural class, this time in taking part in BlackRock’s first Emerging Leader Lab.



RIA Edge Podcast: RIA M&A Mid-Year Update with Jessica Polito

RIA Edge Podcast: RIA M&A Mid-Year Update with Jessica Polito

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 

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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. 



RIA Edge Podcast: Schwab’s Tom Bradley: RIA Megatrends – The Drivers of Current & Future Growth

RIA Edge Podcast: Schwab’s Tom Bradley: RIA Megatrends – The Drivers of Current & Future Growth

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 

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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.



RIA Edge Podcast: It’s a Bull Market for Advice: But is it a Bull Market for Advisors? With Steve Sanduski

RIA Edge Podcast: It’s a Bull Market for Advice: But is it a Bull Market for Advisors? With Steve Sanduski

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

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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.



RIA Edge Podcast: Focus Financial’s Rajini Kodialam: The Evolution of RIA M&A

RIA Edge Podcast: Focus Financial’s Rajini Kodialam: The Evolution of RIA M&A

While there have been hundreds of M&A transactions in the RIA channel in recent years, Focus Financial was one of the first strategic acquirers in the industry more than a decade ago – and has since grown into one of the largest and most influential firms in the wealth management business. 

In this episode of the RIA Edge podcast, Rajini Kodialam, Focus Co-Founder and Chief Operating Officer, sits with Informa’s Mark Bruno to discuss the evolution of M&A and the opportunities that exist today. Specifically, Mark and Rajini discuss:

  • How RIAs – both as buyers and sellers – are thinking differently about M&A today than they were just 12 months ago, given the changes in markets, economy and cost of capital
  • What “problem” Focus specifically solves for firms that it acquires or partners with – and how has that evolved over the last decade
  • How Focus differentiates itself from other professional buyers that have emerged in recent years
  • Opportunities for RIA to go global and enter markets outside of the U.S.

Resources:

 RIA Edge Podcast

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 About Our Guest:

Rajini is a co-founder of Focus and responsible for acquisition, relationship management and value-added initiatives across the firm.

Prior to founding Focus, Rajini worked at American Express where she managed interactive services for the U.S. Consumer Card and Travel businesses. Prior to joining American Express, she was with McKinsey & Company.

Rajini loves to cook, experiment with xeric gardening in her Austin home and aspires to write a sci-fi novel.  Rajini holds an MBA from Columbia Business School in New York, a PGDM from the Indian Institute of Management, Ahmedabad and a B.A. from Delhi University, India.



RIA Edge Podcast: Embracing the Marketer’s Mindset: Megan Carpenter’s Playbook for RIAs to Drive Meaningful Growth

RIA Edge Podcast: Embracing the Marketer’s Mindset: Megan Carpenter’s Playbook for RIAs to Drive Meaningful Growth

While markets may be in bear territory, it’s a bull market for financial advice – as more individuals need access to professional advice than ever before. 

How can RIAs effectively take advantage of this once-in-a-lifetime growth opportunity to acquire new clients and deepen relationships with existing clients? Megan Carpenter, the CEO and Founder of FiComm – and one of the top marketing minds in the wealth management industry — dropped by the RIA Edge podcast to share stats, best practices and an RIA playbook for putting a strategic marketing plan in place. 

In the episode of RIA Edge, Megan and host Mark Bruno discuss:

  • The mindset of RIAs that are having the most success creating meaningful organic growth — and how leaders of these firms make sure this trickles down to all of their employees
  • There have been a number of firms that have experimented with digital marketing over the last several years. The firms that have seen the most growth, what are they doing correctly? More specifically, among the firms that are experimenting and having success, what are they doing differently?
  • Benchmarks for healthy organic growth rates, as well as how much should RIAs be investing in marketing
  • Marketing is still a new frontier for many leaders of wealth management firms. What are some good resources for advisors who want to become more educated about all of the options and innovations available to accelerate their marketing?

Resources:

 RIA Edge Podcast

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