The WSR Wealth Exemplar Awards Practice Management Platform of the Year goes to the top three practice management platforms either in-house within a wealth management firm or delivered via a third-party consultancy or solutions provider, with offerings that may include, among other areas, consulting, operational efficiency, succession planning or advisor marketing.
LaSalle St. Securities is an advisor-owned independent broker-dealer, RIA and annuity and insurance products platform. It was founded in 1974, represents over $12 billion in client assets and is registered in all 50 states, supporting more than 300 financial advisors. The firm continues to grow steadily due largely to its 100% advisor retention rate and a 97% advisor satisfaction score on its internal surveys.
LaSalle St. Securities supports the growth and success of independent advisors across the country through programs such as an Advisor Growth Funding Platform to finance succession-based M&A. The platform provides interest-free and low-rate loans for affiliated advisors to finance these deals, even as the cost of conventional loans have skyrocketed in recent months.
Wealthcare provides financial advisors with an integrated goals-based planning solution; business operations support spanning compliance, marketing and practice management; as well as access to investment models and portfolio management services. The company was founded over 20 years ago. It has over $4.8 billion in assets, supports more than 170 advisors in 36 states serving approximately 8,750 households representing over 18,000 accounts, and achieved 20% CAGR over the past four years.
In the last 12 months, Wealthcare acquired Eagle Financial and Fellows Financial, secured partnerships with Wealthbox and Pontera, enhanced its GDX 360 platform and the patented ComfortZone approach as well as expanded its offerings to affiliate advisors. The latter includes the Advisor Adoption program to help advisors optimize their use of Wealthcare products and services, along with the Wealthcare Women’s Forum to increase networking and educational opportunities for women.
FP Transitions says it has completed more M&A transactions in the wealth management space than any other firm and more than 15,000 business valuations. The consultancy strives to help firms grow and strengthen their businesses by using equity to attract and retain talent, allowing them to buy-in incrementally, and make this route a viable alternative to selling to a third party. It was founded in 1999.
FP Transitions’ M&A team executes hundreds of deals annually, and assists both buyers and sellers with deal structuring expertise, cash flow analysis, customized documentation, seller financing, bank financing support and much more. Last year the consultancy supported 135 transactions. The team says that it is even busier this year and that the current market volatility has not materially affected its M&A pipeline.
Chris Latham, Deputy Managing Editor at Wealth Solutions Report, can be reached at firstname.lastname@example.org