Honoring The Hispanic Community In Wealth Management

Larry Roth, CEO, Wealth Solutions Report

Plus Our Inaugural Investments Roundup, Weekly Recruiting News, The Women In Wealth Management Awards, AssetMark’s Summit, Knowledge Transfer In Succession, Coldstream’s Merger And Choreo’s New Executive

To My Fellow WSR Community Members:

We are excited to celebrate National Hispanic Heritage Month this week by honoring outstanding advisors, professionals and executives of Hispanic heritage, in addition to organizations that lead the way for a more diverse future, as part of our WSR Pathfinder Awards – Top Hispanic Industry Leaders of 2023.

As we complete the 2023 awards with this installment that honors the Hispanic community, I hope you will find encouragement, inspiration and guidance as I do. In addition to naming winners, we provide a platform for three of them to tell their stories, teach us about the Hispanic community and address DEI issues.

We also bring you news about the upcoming Women in Wealth Management Awards, as well as Practifi’s CEO on transferring knowledge, our Weekly Recruitment Roundup, AssetMark’s Leaders’ Summit, Coldstream’s merger and Choreo’s new Chief Growth Officer.

In addition, we’re launching a new column – the Quarterly Investments Roundup – to keep you informed about news in the investments space. For each installment, we will feature an Investment Solutions Leader of the Quarter.

Our survey on the state of advisor technology with Docupace continues, so take advantage of this opportunity to win a $250 Amazon gift card while providing valuable feedback for the industry on the trends and challenges wealthtech faces from your unique point of view.

This Week’s Issue

This week in On The Rise, we announce the Top Hispanic Industry Leaders of 2023 and speak with three winners:

  • We are excited to name 10 accomplished professionals from across the industry and two outstanding organizations in the Hispanic community as the winners of the WSR Pathfinder Awards – Top Hispanic Industry Leaders of 2023 in honor of National Hispanic Heritage Month.
Gil Valadez, Financial Advisor, Prudential Financial
  • The Pathfinder Awards winner in the category of Hispanic Financial Advisor of the Year, Gil Valadez, a Financial Advisor at Prudential Financial, tells us about the financial needs of Hispanic families, the need for role models and his passion for financial education.
  • Dani Fava, Group Head, Product Innovation at Envestnet, the winner in the category of Hispanic Product Development Executive of the Year, tells the incredible story of how her career began, comments on how her experiences as a Hispanic woman, single mother and member of the LGBTQ+ community shaped her career, and discusses the state of DEI in wealth management.
  • WSR’s Hispanic CEO of the Year, Mario Ramos, Partner and CEO at Adviser Investments, discusses the firm and its strategic vision under his leadership, his experiences, the benefits of diversity and how the industry can create diversity.

In addition to the WSR Pathfinder Awards, this week we also bring you:

  • Which firms recruited top executives? In Newsmakers & Roundups, this edition of Weekly Recruitments features Snowden Lane Partners recruiting the Torres Group, NewEdge Wealth expanding its San Francisco office, Clover Capital Partners launching through Arkadios Capital, Waverly Advisors acquiring SoundPath Investment Advisors, Edelman Financial Engines acquiring Align Wealth Management, Creative Planning acquiring Kistler-Tiffany Advisors, CUSO Financial Services renewing its agreement with Coastal Credit Union, Choreo appointing Karen Lee as Chief Growth Officer and Sanctuary Wealth appointing Chris Shaw as East Coast Regional Managing Director.
Bob Shea, Chief Investment Officer, Dynasty Financial Partners
  • Who’s our inaugural Investment Solutions Leader of the Quarter? In Investment Solutions & Gatekeepers, we speak with Bob Shea, CIO of Dynasty Financial Partners. Other entries in our first Investments Roundup include Allspring launching an SMA portal, the CION Ares Diversified Credit Fund hiking its distribution rate, HFR reporting on emerging market and cryptocurrency strategies, CAIS expanding its menu of alts strategies, Sound Income Strategies’ fixed income ETF topping Morningstar’s list, Flourish Cash raising its FDIC insurance coverage, Opto enhancing its alts fund strategies, AXS adding a real estate debt ETF and AIM adding managers to its platform.

In case you missed it, last week we brought you:

Adrian Johnstone, CEO, Practifi
  • What key element is missing from your succession plan? Knowledge, according to Adrian Johnstone, CEO of Practifi, in our Digital Domain section. Johnstone said that you must leverage technology to transfer client knowledge – not just numbers – which results in smoother succession, higher client retention and greater valuation.
  • Which industry conference did I have the most fun at last week? In Investment Solutions & Gatekeepers, AssetMark held its Leaders’ Summit in Denver, where I spoke on ways to structure wealth management enterprises for growth and long-term success. Other expert speakers at the Summit included Paul Lally, Principal and National Practice Leader at Wipfli; David DeVoe, CEO and Founder of DeVoe & Company; and Joseph Kuo, CEO and Founder at Haven Tower Group.

  • Which firm conducted two simultaneous mergers? In Newsmakers & Roundups, Bellevue, Washington-based Coldstream Wealth Management announced its merger with Seidman Capital Group, a wealth management firm, and Hersman Serles Almond, an affiliated business that provides accounting and consulting services. SCG and HSA are based in Kirkland, Washington. Victoria Serles, a CPA with over 40 years of financial services experience who co-founded both SCG and HSA, provides commentary.
Karen Lee, Chief Growth Officer, Choreo
  • Also in Newsmakers & Roundups, Choreo hired Karen Lee, formerly Chief Business Solutions Officer of Mercer Advisors, as its Chief Growth Officer, to help implement a geographic and service growth plan. Lee and CEO Larry Miles provide commentary.
  • Who’s inspiring and empowering women in wealth management? In On The Rise, finalists for the Women in Wealth Management Awards were announced. Winners in seven categories will be named at the Excell Represent event on Nov. 15. Awards ceremony host Suzanne Siracuse, CEO of Suzanne Siracuse Consulting Services, provides comments.

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Larry Roth
Wealth Solutions Report

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