Next Year’s Trends For Family Offices And More

Larry Roth, CEO, Wealth Solutions Report

2024 Outlooks For Family Offices, Alts And M&A, Plus Tuck-Ins, AI, Osaic’s $108 Billion Deal, The Great Wealth Transfer, Charity Grants, Recruiting News And More

Family offices fill a vital role in the wealth management landscape, bringing specialized investments and services to multigenerational ultra-high net worth clients. As 2024 approaches, trends in alternative investments, services responding to geopolitical issues, distinctives that separate UHNW from HNW clients and the need to bolster technology are at the forefront of the space. This week, we hear from experts on what will unfold next year for family offices.

We also bring you other 2024 outlooks, including Barrett Upton’s alternative investments predictions and Hightower’s M&A forecast. In addition, Osaic will buy Lincoln Wealth, Dynasty analyzes tuck-ins, Conquest Planning explains how AI can help advisors with the great wealth transfer, CapIntel reaches milestones, Invest in Others makes grants, and we present our Weekly Recruitment Roundup.

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Weekly Recruitment Roundup: This edition features NewEdge Capital Group recruiting $9.6 billion in 2023, Integrated Partners bringing on over $3 billion this year, Arkadios Capital onboarding two teams and a business consulting director, Cadaret Grant adding OPOC.US, Carson Group recruiting Oakeson Steiner Wealth & Retirement, Savvy Advisors hiring Jacob DuBose, Osaic agreeing to acquire Lincoln Wealth, Edelman Financial Engines acquiring NEPPS and NEIC, as well as CAPTRUST Financial Advisors acquiring Trutina Financial.

Family office UHNW trends: What does 2024 hold for family offices and their ultra-high net worth clients? To find out, WSR spoke with Brian Weiner, Founder and CEO of ExCel Global Family Office; Matthew Anderson, Founding Partner and Private Wealth Advisor at Advocus Private Wealth; Rob Sechan, CEO and Co-Founder of NewEdge Wealth; Chuck Clarvit, CEO of CCFO Investments, LLC; Dan Burke, Investment Partner at Callan Family Office; and Marty Gross, Founder and President of Sandalwood Securities.

Alternative views: Andrew Krei, Co-Chief Investment Officer of Barrett Upton Capital Partners, gives 2024 predictions for certain large categories of alternative investments including private credit, venture capital, private equity, secondaries and real estate.

Tucking in: Harris Baltch, Managing Director, Head of Investment Banking at Dynasty Financial Partners examines tuck-ins from both the advisor’s and the acquiring firm’s perspectives, opines on who benefits most from a tuck-in arrangement, and points out red flags and positive attributes that potential buyers and sellers should look for in a transaction.

A sunny forecast: Scott Holsopple, Chief Growth Officer at Hightower, provides an optimistic 2024 wealth management M&A forecast, predicting continued strong deal flow and valuations and discussing trends in deal structures and selectivity.

Making a difference: Invest in Others Charitable Foundation granted almost $300,000 to 17 nonprofits in its 2023 Grant Program, providing funding for a range of charitable organizations supported by financial professionals. The foundation’s Executive Director and President, R. Barkley Payne, comments.

Massive M&A: Osaic agreed to acquire the Lincoln subsidiaries that comprise Lincoln Wealth, with $108 billion in assets and approximately 1,450 professionals. Lincoln and Osaic plan to strengthen their strategic partnership. Osaic CEO Jamie Price, and President of Advice and Wealth Management Greg Cornick, provide commentary, along with Lincoln Financial Group Chairman, President and CEO, Ellen Cooper, and Lincoln Wealth President David Berkowitz.

A fintech forges ahead: In 2023, Toronto-based CapIntel, a fintech solutions provider for financial services wholesalers and investment advisors, forged 11 strategic partnerships in the wealth and asset management spaces, launched its OMNI platform and was named a finalist in two industry awards programs. CEO James Rockwood and Chief Revenue Officer Rob Crnkovic comment.

Reaching heirs with AI: Ken Lotocki, Chief Product Officer and Co-Founder of Conquest Planning, explains how AI can help advisors reach and serve the needs and habits of younger generations poised to inherit trillions in the great wealth transfer.

Spend the holidays with us – on LinkedIn!

Larry Roth
CEO
Wealth Solutions Report

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