Calling Out Excellence In Operations Leadership

Larry Roth, CEO, Wealth Solutions Report

The Top Wealth Management COOs And Coverage From The MarketCounsel Summit, Plus Advancing Women Clients, Weekly Recruiting, NewEdge’s UHNW Move, Tuck-Ins And Staying Off The Sidelines

Over the course of this year we have honored individuals and firms across a variety of backgrounds and expertise, including CMOs, CFOs, boutique recruiters, professional services firms and more. This week, we honor outstanding executives in another crucial role in wealth management: COOs.

For our inaugural COO 5, we selected operations leaders who distinguished themselves by demonstrating exceptional skills and abilities in synchronizing daily firm activities, adapting their enterprises to needs and trends, and paving the way for future growth.

In addition, we bring you coverage from the MarketCounsel Summit, our weekly roundup of recruitment news, Pitcairn’s advice on advancing women clients in the family business, Blue Chip’s warning against investment complacency, NewEdge’s move for ultra-high net worth clients and expert views on tuck-ins.

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Spotlight on operations leaders: This week we name the invitation-only COO 5: Top Wealth Management COOs, describe their backgrounds and achievements, and hear their views on current topics.

Weekly Recruitment Roundup: This edition features Snowden Lane Partners recruiting advisors in Florida and Colorado, DFPG Investments launching the Diversify Advisor Network, Constellation Wealth Capital investing in AlphaCore Wealth Advisory, Summit Financial Holdings taking a minority stake in Prostatis Financial Advisors Group, Merit Financial Advisors acquiring ClearBridge Wealth Management, NewEdge Capital Group launching a program for ultra-high net worth clients, White Glove merging with TouchFuse to form an omni-channel marketing firm and Andrew Marsh joining the Board of Directors of Wellington-Altus Financial.

Hamburger’s observations: In the first of three articles covering the MarketCounsel Summit 2023 in Las Vegas, Nevada, Brian Hamburger, President and CEO of MarketCounsel, kicked off the conference by sharing key insights about restrictive covenants, layoffs, private investors and marketing rules for advisors and firms.

The rapid changes AI is bringing: Also at the MarketCounsel Summit, Joel Bruckenstein, President of Technology Tools for Today, moderated a discussion on the impact of AI on advisory business, data privacy, talent and more with Craig Iskowitz, CEO of Ezra Group; Oleg Tishkevich, CEO of Invent; and Brian McLaughlin, President of Orion Advisor Tech.

Welcome to the jungle: Also at the MarketCounsel Summit 2023, Mark Hurley, CEO of Digital Privacy and Protection, predicted the wealth management industry would see fierce talent competition, the rise of specialist firms and investment by sovereign wealth funds.

Comfortable on the sidelines? Blue Chip Partners Director of Investments Daniel Dusina explains why advisors shouldn’t park cash in money markets despite high rates, election year issues and the risk of recession, arguing that selective bond and equity investments serve clients better.

Her legacy: Pitcairn’s Chief Knowledge and Learning Officer, Amy Hart Clyne, describes the shifting roles of women in multigenerational client families and how advisors can help empower women as family business trailblazers.

Tuck-ins are on the rise: We hear from four industry leaders on the growth opportunities for tuck-ins: Paige Schwartzendruber, Chief Business Development Officer of Berthel Fisher Companies; Mark Contey, CMO of LaSalle St. Securities; Jason Inglis, Chief Revenue Officer of Sowell Management; and Renee Farida, COO of Householder Group.

UHNW bridge program: NewEdge Capital Group launched the Ultra High Net Worth (UHNW) NewEdge Bridge Program, which enables representatives affiliated with NewEdge Advisors who have UHNW clients to introduce them to NewEdge Wealth, which specializes in serving such clientele. Comments from Neil Turner, Co-CEO and Co-Founder of NewEdge Advisors, and John Straus, Jr., Partner and Co-Founder of NewEdge Wealth.

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Larry Roth
Wealth Solutions Report

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