Finding The Right Fit In An M&A Partner

Larry Roth, CEO, Wealth Solutions Report

Plus Weekly Recruiting News, Osaic’s Recruiting Gains, FusionIQ’s Wealthtech Service Partnership, A Win for Goldman Custody And A Detailed Examination Of Custody Trends

In the past few weeks we’ve looked at cultural fit from a recruiting perspective, the drivers propelling wealth management M&A forward, firm valuations and more. This week we talk with a range of experts on how advisors can identify a good fit in an M&A partner – including culture, deal structure, aligned perspective and goals, and honest communication.

In a detailed examination of where custody solutions are headed for small and midsized RIAs, WSR also spoke with the leading custodians as well as third-party vendors on everything from custodial service gaps to potential changes in the competitive landscape.

In addition, we bring you our Weekly Recruitment Roundup, Osaic’s latest recruits, FusionIQ’s alliance with Valley National Bank and a Morgan Stanley breakaway team that chose Goldman for custody services.

We are excited about what our survey on the state of advisor technology will contribute to the industry. Join us by filling it out and earn the chance to win a $250 Amazon gift card.

The future of custody: To uncover what’s on the custodial horizon for small and midsize RIAs, WSR gathered insights from Schwab, Fidelity, Pershing, LPL, Goldman Sachs, Concurrent, Entrustody, Vestmark, StratiFi, BetaNXT and Cerulli Associates.

Weekly Recruitment Roundup: This edition features our newest Recruiter Of The Month, Jim Gold, CEO and Co-Founder of Steward Partners Global Advisory. We also cover Stablepoint Partners breaking away from Morgan Stanley with Goldman Sachs as custodian, Osaic adding assets through recruitments to The AmeriFlex Group, OneSeven bringing on Hyperion Wealth Group, LPL recruiting two advisors through Seapoint Wealth Advisors, Curi Capital merging with RMB Capital, Waverly Advisors acquiring Prosper Financial Advisers and Morgan Stanley appointing Jed Finn the head of its wealth management division.

“One shot to get it right”: We spoke with three experts on keys advisors must consider to find the right M&A partner: Angie Herbers, the Founder and Managing Partner of Herbers & Company; Jason Gordo, Co-Founder and President of Modern Wealth Management; and Andree Mohr, Chief Implementation Officer at Integrated Partners.

A wealthtech/bank alliance: FusionIQ and Valley National Bank formed a partnership in which FusionIQ will deliver its Digital Advice platform to Valley’s clients. FusionIQ’s CEO Mark Healy and Joel Vanovitch, COO, Valley Financial Management at Valley National Bank, provide comments.

Independence and custody: A Morgan Stanley breakaway team formed Stablepoint Partners in the Boston area, led by Managing Directors and Co-Founders Christopher Griffith and Henry Wheelwright, and chose Goldman Sachs Advisor Solutions (GSAS) for custody services. Griffith, Wheelwright and GSAS Head of Advisor Engagement, Richard Lofgren, provide comments.

Multistate recruitment wins: Osaic scored recruitments through The AmeriFlex Group. The Meckenstock Group brings 10 advisors and over $290 million, while the team of Jeffrey McNaney and Lucas Dancy-Cabeal brings $206 million. The advisors are based in Kansas, Nebraska, Tennessee and California. Thomas Goodson, President and CEO of AmeriFlex, and Kristen Kimmell, Executive Vice President Business Development at Osaic, provide comments.

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Larry Roth
Wealth Solutions Report

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