RIA M&A – Emotions, Integrations & Resilience

Larry Roth, CEO, Wealth Solutions Report

Wealthtech And Recruitment Roundups, M&A Seller Emotions, Turning Aggregators Into Integrators, Why M&A Disaster Is Unlikely, SECURE 2.0 And Custodian Evolution  

To My Fellow WSR Community Members:

There’s much to say about wealth management M&A, and though we brought you top recruiters and a 2023 M&A and recruiting forecast last week, we’ve got much more for you this week, including coverage of a white paper that delves into the emotional side of M&A for sellers, their concerns, fears and motivations, as well as a discussion with experts exploring the factors that make RIA M&A resilient.

In the same vein, we also bring you a guest editorial outlining the argument that RIA aggregators should take deliberate steps toward becoming integrators of RIAs and the potential benefits for the aggregators and their advisors.

We also bring you our Weekly Recruitment Roundup and our monthly roundup of wealthtech news, a Retirement Roundtable with seasoned experts to discuss growth opportunities presented by SECURE 2.0 and expert opinions on the changes needed in the custodian space.

Finally, be on the lookout for this year’s first group of WSR Pathfinder Awards, to be announced later this month in honor of Black History month. The awards honor outstanding executives and firms from diverse and underrepresented communities.

This Week’s Issue

Here’s what we have this week:

  • Which broker-dealer network brought on the most assets last year? In the Newsmakers & Roundups section, our latest edition of the Weekly Recruitment Roundup covers the reported full-year 2022 asset gains for Advisor Group, Cetera Financial Group and Kestra Financial. We also recap the completion of acquisitions by LPL Financial, Wealth Enhancement Group and Choreo. In addition, we explore Atria Wealth Solutions subsidiary CUSO Financial Services partnering with Kemba Credit Union.
  • Who’s our newest Wealthtech Leader of the Month? In Digital Domain, we speak with Helen Johnson, Chief Technology Officer of COMPLY. Other entries in the latest Wealthtech Roundup include Pontera integrating its 401(k) management capabilities with Envestnet, Alkymi and Ledgex partnering to serve family offices, Docupace hiring former eMoney Chief Operating Officer Mike Zebrowski as its COO, Vestmark collaborating with S&P Dow Jones Indices to launch direct-index SMA strategies and F2 Strategy releasing its 2023 WealthTech Outlook Report.
  • How should custodians evolve in 2023? In Words in Edgewise, we learn how custodians can develop to better serve advisors and clients and why change happens slowly in the custodian space. Read insights from Doug Fritz, Co-Founder and CEO of F2 Strategy, Dasarte Yarnway, Co-Founder of ONYX Advisor Network, and Patrick Moeller, Founder and CEO of Entrustody.
WSR Wealthtech Leader of the Month, Helen Johnson, CTO of COMPLY
  • The JP Morgan fraud suit made waves. Could it happen in our industry? In Capital Connections, we explore market and interest rate challenges to M&A, the resilience of RIAs and robust pre-deal vetting with Derek Bruton, Senior Managing Director at Gladstone Group; David DeVoe, Founder and CEO of DeVoe & Company; and Neil Turner, Co-Founder and Co-CEO of NewEdge Advisors.
  • Is it time that aggregators turned into integrators? In Upmarket, Matt Regan, President of Wealthcare, argues that aggregators should shift their focus to strategically forging integrated, centralized platforms, which would produce increased firm value, more efficiency for advisors and better execution on succession plans.

How can you leverage SECURE 2.0 for growth? Also in Upmarket, we explore the benefits and strategies available with the new SECURE Act 2.0 that advisors and other professionals can use to serve clients. We speak with Matt Zokai, Director, Retirement Solutions at Avantax; Jason Roberts, CEO of Pension Resource Institute; Jonathan St. Clair, Chief Fiduciary Officer and Managing Director at SageView Advisory Group; and Joe DeNoyior, President of HUB Retirement and Wealth Management.

In case you missed it, last week we covered a wealthtech rebrand and the “heart” of M&A:

  • In Newsmakers & Roundups, direct indexing services provider Veriti Management announced a rebranding, changing its name to First Trust Direct Indexing, in line with First Trust Portfolios, which bought the firm last year, and the appointment of Nasdaq veteran Robert Hughes as CEO, taking the reins from Co-Founder and Managing Partner James Dilworth.
  • Exploring the emotional side of M&A in our Capital Connections section, DeVoe & Company and Allworth Financial published a white paper titled “The Heart of the Deal: Understanding and overcoming the emotional barriers of selling your RIA,” which revealed that RIA sellers aren’t only thinking of themselves – they have strong concerns for their clients and staff, too!

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Have a great week!


Larry Roth, CEO

Wealth Solutions Report

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