The 60/40 Stumble Brought Us Tremendous Advances

Larry Roth, CEO, Wealth Solutions Report

The Night Effect, A New Take On The Energy Sector, Direct Indexing In 2023, 2022 M&A In Review, Streamlined Pricing And The Latest Transitions, Transactions & Promotions

To My Fellow WSR Community Members:

“Necessity is the mother of invention,” the old proverb reminds us. Someone needed light at night. Someone else needed to arrive faster. Another needed to combine the functions of a Blackberry, phone and PalmPilot (remember those?) into a simple handheld device with one button. 

Likewise, the stumble of the traditional 60/40 portfolio a year ago catalyzed the rapid invention phase we’ve seen throughout the past year in wealth management – squeezing efficiencies, expanding wealthtech applications, discovering and evolving new modes of investment and bringing those from the institutional sphere to high net worth clients and even retail. 

Remember this?

This week, we bring you insights on strategies and tools that have accelerated and deepened in the past year of invention in our industry, including a nuanced perspective on the energy sector, the evolution of direct indexing in 2023 and the intriguing story of what your investments are up to at night.

We also provide the latest in M&A, people moves, strategic partnerships and recruiting, a review of 2022 M&A and a marketing firm that restructured its pricing to increase the value of its services.

This Week’s Issue

Here’s what we have this week:

  • How many billion-dollar deals can one firm announce in a week? In Newsmakers & Roundups, our first 2023 edition of Transitions, Transactions & Promotions tries to answer the question by covering advisor transactions representing approximately $5 billion in new client assets and M&A deals representing approximately $10 billion in new client assets. We spotlight developments involving Cetera, Cerity Partners, Edward Jones and many more.
  • Hydrocarbons versus renewables? Or hydrocarbons and renewables? In our Investment Solutions & Gatekeepers section, we hear from Church Waesche, an Analyst at Anchor Capital Advisors, on the nuances and interdependence of old and new energy investing, as well as the role ESG plays.
  • How will direct indexing evolve in 2023? Also in Investment Solutions & Gatekeepers, we spoke with Jonathan Foster, President and CEO of Angeles Wealth Management; Zach Conway, Co-Founder and CEO at Seeds Investor; and Jim Dilworth, Managing Partner of Veriti Management, to learn what advisors should know about the immediate future of this rapidly changing space. 
It’s complicated
  • Are the markets like night and day? Also in Investment Solutions & Gatekeepers, Bruce Lavine, CEO of NightShares, describes the “night effect, in which trading between closing and opening reveals different patterns in market movements and volatility versus regular trading sessions, the pros and cons of investing in the night effect and its uses in a portfolio. 

In case you missed it, last week we brought you coverage of an industry marketing firm streamlining its pricing and the first glimpse at how 2022 M&A crossed the finish line: 

  • Does simplified pricing increase value? In Wallet Share, financial advisor marketing firm White Glove announces a streamlined, all-inclusive pricing structure to boost its value for advisors and increase its cost-effectiveness, including a guarantee, free educational and lead-converting resources and risk reduction for users. 
Time to trade?
  • Was there anything great about 2022 in finance? In Capital Connections, we cover an ECHELON Partners full year brief on the state of mergers and acquisitions in the RIA space. It reveals that 2022 deal volume broke the annual record thanks in large part to private equity firms even as deal size declined from 2021 and quarterly deal flow slowed, while strategic acquirers and consolidators conducted most of the moves.

I will be attending FSI’s OneVoice conference next week along with our Deputy Managing Editor, Chris Latham. We’re excited to meet you in person, so please introduce yourself!

It only takes 15 minutes to give back to your wealthtech partners by participating in the T3/Inside Information annual survey

Let us know your suggestions, ideas and questions!

You can stay on top of our latest news and insights by following us on LinkedIn, which is also perfect for sharing our articles with your friends and colleagues!

Have a great week!


Larry Roth, CEO

Wealth Solutions Report

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