Rapid Evolution Opens New Opportunities In Wealth Management

Larry Roth, CEO, Wealth Solutions Report

Alts Investing After SVB, The Schwab Migration And Custody, The Latest In Wealthtech And Recruiting, Life Insurance For Multiple Generations And Educating Athlete Clients

To My Fellow WSR Community Members:

Like most industries in modern times, wealth management evolves rapidly. New strategies, niches and opportunities open frequently for those who search them out. For those who try to remain unmoved, relying on yesterday’s tools and practices, the sand quickly shifts beneath their feet. 

This week we bring you several articles covering rapid change in different spaces within our industry. We’ve watched quick, cascading reactions unfold in the wake of Silicon Valley Bank’s collapse –  from Fed policy to investment strategy, all of which command the immediate attention of advisors. 

The migration to Schwab of advisors using TD Ameritrade’s platform brings new attention to evolution in the custodial space. Advisors must also pivot to the needs and requirements of younger generations while still serving their boomer parents, including in the areas of technology and life insurance.

In addition to these topics, we bring you the latest monthly roundup of wealthtech news and our Weekly Recruitment Roundup, as well as a Financial Literacy Month piece on the financial education of athlete clients. 

This Week’s Issue

Here’s what we have for you this week: 

  • Have billion-dollar deals become the standard? In our Newsmakers & Roundups section, the latest in Weekly Recruitments cover three billion-dollar moves, dual deals by an independent firm and a wirehouse exit. We explore Wealth Enhancement Group acquiring Equius Partners; Cetera’s AdvisorNet Financial recruiting Rohlik Financial Group; Rockefeller Capital Management recruiting from First Republic Bank; Perigon Wealth Management acquiring Stakeholders Capital and an affiliation with Cognizant Wealth Advisors; and Raymond James recruiting from UBS.
Steven Brod, CEO, Crystal Capital Partners
  • Who’s our newest Wealthtech Leader of the Month? In Digital Domain, we speak with Steven Brod, CEO of Crystal Capital Partners. Other Wealthtech Roundup entries include Advisor Group launching a digital securities-based lending solution, AlphaTrAI expanding its senior leadership team and board, Smarsh enhancing its communications oversight dashboards, FMG leveraging ChatGPT for social media content creation, Absolute Engagement launching an engine to boost advisors’ prospect and client experiences, and Riskalyze and Orion improving integrations for accounts and models.
  • How do you help multigenerational clients meet their goals? In Investment Solutions & Gatekeepers, Wade Seward, Head of Distribution Strategy at Haven Life, a wholly-owned subsidiary of MassMutual, explains how technology and life insurance fit into the varying needs of boomer, millennial and Gen X clients. 
  • How can you educate athlete clients on their specific financial needs? In Words in Edgewise, we recognize Financial Literacy Month with an article by Justin McCurdy, Executive Director and Financial Advisor at Manhattan West, who was named among our Top Black Industry Leaders of 2023. McCurdy describes how financial advisors can educate and support athlete clients in pertinent areas such as liquidity needs and evaluating private investments.
  • Does the TD Ameritrade migration to Schwab herald a sea change in wealth management custody? Also in Words in Edgewise, we speak with Doug Fritz, Co-Founder and CEO of F2 Strategy, and Greg Thornhill, Head of Operations at Entrustody, about the Schwab migration, strengths and weaknesses of the major players and newer entrants, the pain of the repapering process, digital account opening and more.

In case you missed it, last week in Investment Solutions & Gatekeepers we discussed how advisors should strategize on alts after Silicon Valley Bank’s implosion. Crescent Grove Advisors’ Co-CIO Andrew Krei describes the effects of the banking crisis on Fed policy, inflation and markets, and how advisors can hone alts strategies for their clients in this shifting landscape.

Thank you to those who have written us with your questions, ideas and suggestions. We’re always happy to hear from you! 

Follow us on YouTube and LinkedIn, where you can find the latest expert video interviews, news and analysis and share it easily! 

Have a great week!


Larry Roth, CEO

Wealth Solutions Report

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