Giving Thanks To You, Our Readers And Industry

Plus A Warning For M&A, The Upcoming WSR Wealth Exemplar Awards, Our New Multimedia Section, Managed Futures, Value Investing, New RIA Leaders, Recruiting News And Expert Analysis, And More

To My Fellow WSR Community Members:

As we move into the Thanksgiving weekend, I would like to give a sincere thanks to the industry leaders who have contributed so much to our readers, to our thoughtful and always helpful Advisory Board and most of all to you, the WSR reader community. All our success is thanks to you.

We have much exciting news in the works, including the WSR Wealth Exemplar Awards. Our latest series of awards will honor leading firms in wealth management across a range of categories, one distinguished executive who has contributed both vision and change to our industry, and the most impactful and trend-defining M&A transactions of the year, ranging from boutique to mega-sized deals. The winners will be announced in early December.

Today we bring you a wide spectrum of coverage and expert insights including our Weekly Recruitment Roundup; a warning for M&A; examinations of managed futures and value investing; new leadership in a New Orleans-based RIA; the financial needs of athletes, creators and entertainers; and expert views on recruiting.

Introducing The Multimedia “Monthly Rotation”

We’re excited to announce the addition of a new section to our WSR Multimedia Center – the Monthly Rotation. In this section, we will bring you the best in up-to-date and thought-provoking multimedia for wealth management professionals by curating high-quality podcasts, vlogs and other presentations for your convenience.

The Monthly Rotation will feature top industry veterans and leaders ranging across the space, from financial advisors to wealthtech providers and everything in between.

For our inaugural video and podcast feature, wealth management business and marketing consultant Suzanne Siracuse interviews the CEO of Invent in an episode titled “Oleg Tishkevich: His Visionary Take on the Future of Wealthtech.”

This Week’s Issue

In addition to the Monthly Rotation in multimedia, here’s what we have this week:

• Who’s our latest Recruiter Of The Month? In Newsmakers & Roundups, this entry of Weekly Recruitments features Daniel Schwamb, Executive Vice President of Business Development at Kestra Financial. We also cover Kestra subsidiary Bluespring Wealth Partners acquiring WealthPartners, First Republic recruiting a team from Wells Fargo Advisors, former Morgan Stanley advisors launching Nordwand Capital and Wealth Enhancement Group acquiring BTR Capital Management.

• How should acquirers think about M&A deals of various sizes during market volatility? In Words In Edgewise, we speak with James Fisher, J.D., VP of Mergers & Acquisitions at FP Transitions. Fisher answers that question while sharing why FP Transitions was founded, how the company has evolved and what it sees on the horizon for M&A deals.

• What’s under the hood of a popular alternative investment category? In Investment Solutions & Gatekeepers, Todd Rosenbluth, Head of Research at VettaFi and David Berns, Chief Investment Officer & Cofounder of Simplify, break down managed futures into strategies and underlying assets, explain how they fit in a client portfolio and describe how managed futures interact with inflation.

• Is it time to revive your inner Warren Buffett? Also in Investment Solutions & Gatekeepers, Jennifer DeSisto, Chief Investment Officer at Anchor Capital Advisors, tells us how value investing has fared this year, which sectors are performing now and her outlook for value investing in 2023.

• How do you advise clients whose earnings decrease with age? Also in Words In Edgewise, Steve Weinberger, Senior Managing Director at HCR Wealth Advisors, describes the unique financial needs and perspectives of clients with high earnings while young that trail off with age, such as athletes, entertainers and content creators.

• What are six keys to choosing the right partner firm? In Upmarket, Tony Montanari, Senior Vice President, Business Development forProspera Financial Services, takes the conversation beyond basic recruiting concerns to ask six questions that will lead advisors to make optimal decisions on affiliation partners.

• Can affiliating with small firms provide advantages? Also in Upmarket, Michael Nessim, CEO and Managing Partner of Kingswood U.S., opines on the options available to advisors seeking an independence partner, the effects of the market downturn on an advisor’s ability to switch and the advantages small firms provide to advisors.

In case you missed it, last week we brought you coverage of two breaking news items:

• Who’s the new President at NewEdge Advisors? In Upmarket, we cover the hire of former LPL Financial Executive Vice President Steve Pirigyi as President and the appointment of Jeff Cutler to the newly created role of Chief Experience Officer (CXO) and Managing Partner. Pirigyi will report to Alex Goss, Co-Founder and Co-Chief Executive Officer at NewEdge Advisors, a New Orleans-based RIA with 265 affiliated advisors managing a total of approximately $16.5 billion in client assets.

• Is M&A about to take a plunge? In Capital Connections, DeVoe & Company just issued an off-cycle RIA Deal Book Alert reporting a sharp drop in the number of transactions in October and November. CEO David DeVoe says, “The wheels fell off the M&A train,” as the report describes the current situation and possibilities moving forward.

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Have a great Thanksgiving!

Cheers!

Larry Roth, CEO

Wealth Solutions Report