Plus Weekly Recruitment News, Fixed Indexed Annuities, Estate Planning, Charity Finalists, Regtech, Wealthtech, M&A Conferences And More
To My Fellow WSR Community Members:
There is no topic in wealth management more evergreen than advisor recruitment. The unique nature of our industry – including independent and employee channels, multiple regulatory and licensing regimes, and various ways to affiliate with different types of organizations – almost guarantees a perennially high level of recruiting activity.
As industry participants, we must continually stay current on the latest in recruiting trends and strategies, so our Managing Editor and I bring you our first Recruiting Roundtable, in which we hosted three leading executives from our Top 5 FA Recruiting Firms of 2023 on video to explore the current state of the advisor recruiting landscape.
In addition, this week we have the latest Recruitment Roundup, soft skills in recruiting, how to address estate planning as laws change, Mirador’s enhanced compensation management system, Invest in Others’ finalists, a new regtech executive, PreciseFP’s integration with LPL, fixed indexed annuities and the latest installment in our Guide to Industry Conferences, highlighting M&A conferences.
This Week’s Issue
Without further ado, here’s what we have this week:
- In Upmarket, our inaugural Recruiting Roundtable video features great insights from Jodie Papike, President of Cross-Search; Ryan Shanks, CEO and Co-Founder of FA Match; and Jeff Nash, CEO and Co-Founder of Bridgemark Strategies. Along with WSR Managing Editor Chris Latham, I host their discussion on how advisor recruitment is impacting firms’ growth strategies, what firms are doing to attract top advisors in 2023, and factors that advisors and their teams are addressing when seeking a new firm.
- Which M&A conferences should you attend this year? In Capital Connections, we explore the upcoming ECHELON Partners Deals & Dealmakers Summit, which will be held from August 29 to August 30 at the Ritz-Carlton, Laguna Niguel in California; and DeVoe & Company’s M&A+ Succession Summit, which will be held from September 18 to September 20 at the Ritz-Carlton, Dallas.
- Who’s our newest Recruiter of the Month? In Newsmakers & Roundups, we speak with Jim Hughes, the new Head of Client Advisory and Business Development at Freestone Capital Management. This week’s Roundup deals also include Cetera Financial Group, Ameriprise Financial, Pathstone, Verdence Capital Advisors, the Financial Planning Association, Miracle Mile Advisors and SageView Advisory Group.
- How do you differentiate your practice when politics changes the landscape? In Beltway and Beyond, Anne Rhodes, Chief Legal Officer of Wealth.com, explains three keys to navigate estate planning as the SECURE Act change outcomes, including spousal trusts, charitable bequests and strategies for trust beneficiaries.
- What factors might you be overlooking when recruiting an advisor? Also in Upmarket, Kristi Delongchamp, VP, Business Development and Relationship Management at SPS Family, says focus on the soft skills such as radiating your passion, having an ear for “little things” that matter and building a rapport with the candidate.
In case you missed it, last week we brought you:
- In the Digital Domain section, wealthtech firm Mirador announced its revitalized compensation management services with an expanded team and refined data processes. The firm’s CEO and President, Joseph Larizza, and Chief Solutions Officer, Michael Gault, discuss the benefits of and future demand for outsourced services.
- In Newsmakers & Roundups, the Invest in Others Charitable Foundation announced 15 finalists across five award categories for its annual Invest in Others Awards honoring exceptional financial advisor volunteers and financially supporting their charities. The foundation’s Executive Director and President, R. Barkley Payne, comments.
- Who’s the newest exec in regtech? Also in Digital Domain, StratiFi poached Sarah Gribben from eMoney Advisors as its new Director of Sales and Business Development to lead the cultivation of new client relationships. The firm’s CEO, Akhil Lodha, comments.
- Why should fixed indexed annuities co-exist with bonds in fee-based portfolios? In Investment Solutions & Gatekeepers, Santo Marasco, a Managing Director in the RIA channel at Pacific Life, explained that certain types of fee-friendly annuities could be another way to position clients – and not just when economic and market disruptions hurt equities.
- An integration reaching over 21,000 advisors? Also in Digital Domain, wealthtech firm PreciseFP, a subsidiary of Docupace, announced an integration with LPL Financial to bring its data gathering and client engagement platform to LPL’s advisors. PreciseFP EVP – Product Strategy, Richard Thoeny, and LPL EVP and Head of Wealth Management Solutions, Rob Pettman, provide comments.
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Have a great week!
Cheers!
Larry Roth, CEO
Wealth Solutions Report
