Thriving In An Environment Of Inorganic Growth

Data And Tech Stacks, Forming Ensembles, Wealthtech News, Deals & Recruiting, Great Books, Nesvold’s New Role, Diversify’s Hire And Vestmark’s Partnership With Invesco
Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

When we examine industry M&A, we typically compare to the most recent quarter or year, but like an impressionist painting, the larger picture forms as you take a step back. According to DeVoe & Company’s latest RIA Deal Book, for the years 2021 to 2023, the number of annual deals exceeded 240 per year. Prior to 2018, it was always below 100. In other words, the big picture shows a powerful upsurge.

In an environment where M&A is not only strong today but appears to be a dominant force for the long term, we must learn keys to inorganic growth, whether we’re on the buy side or sell side. This week, we bring you the insights of three experts on data systems and merging tech stacks for inorganic growth and Commonwealth’s advice on forming ensemble practices.

We also bring you our monthly Wealthtech Roundup and weekly Deals & Recruiting Roundup, as well as Liz Nesvold’s move to Emigrant, Vestmark’s partnership with Invesco and Diversify’s new chief legal officer. In addition, Helium’s co-founder shares on business lessons from great books.

Make your voice heard on tech stacks with our quick survey on the state of advisor technology.

Deals & Recruiting Roundup: This edition covers Focus Financial agreeing to merge GW & Wade into The Colony Group, the DeVoe & Company Annual RIA M&A Outlook, Integrated Partners bringing on CoFi Advisors, Cetera launching a “Growth Guarantee” for newly affiliated advisors, Diamond Consultants releasing its latest Advisor Transition Report, LPL taking over support for $16 billion in assets from Wintrust, Liz Nesvold becoming Vice Chair of Emigrant Bank and Chair of Emigrant Partners, Diversify Advisor Network appointing Kevin Bendix as Chief Legal Officer, and Verdence Capital Advisors appointing Peter McGratty as a Director to lead its RIA and OCIO expansion.

Wealthtech Roundup: Meet our newest Wealthtech Leader of the Month, Kwanti Founder and CEO Christophe Gauthron. Other entries include TIFIN AG collaborating with RBC Wealth Management, Advyzon and AIM partnering with Apex Advisor Solutions and Nebo Wealth respectively, F2 Strategy acquiring SKY Marketing Consultants, Vestmark partnering with Invesco, Aztec Software acquiring FFG, Nitrogen’s enhancements, Orion integrating with DPL, Capitaliz appointing Jared Johnson as President North America, PreciseFP integrating with Income Lab, StratiFi partnering with iQUANT and AdvicePay integrating with eMoney Advisor.

Nesvold joins Emigrant: Liz Nesvold joined Emigrant Bank as Vice Chair and Emigrant Partners as Chair. Emigrant Bank CEO & Chairman Howard Milstein said he was “thrilled to have finally recruited Liz to the team.”

Read to succeed: Helium Advisors Co-Founder and Partner Howard Morin shared crucial business and life lessons that advisors can gain from history, biography and modern classic books.

Model portfolio partners: Wealthtech firm Vestmark announced a partnership with investment firm Invesco for users of Invesco’s model portfolios to access Vestmark’s VAST portfolio management services that provide personalization and tax management. Vestmark CEO Karl Roessner commented.

Assembling ensembles: Kenton Shirk, VP, Practice Management at Commonwealth Financial Network, spoke with us on ensemble practice organizational structures, how to form them and how they can help with succession.

Tech and inorganic growth: We reached out to Mike Capelle, Co-Founder and Co-CEO at Modern Wealth Management; Madalyn Armijo, Co-Founder and COO of Dispatch; and Jordan A. Hutchison, VP of Technology at RFG Advisory, to learn steps to blend tech stacks for advisory practices and optimize data systems for firms seeking inorganic growth.

Legal appointment: Diversify Advisor Network appointed former Kirkland & Ellis Partner Kevin Bendix as Chief Legal Officer and placed additional key strategic development initiatives under his supervision. Bendix and CEO Ryan Smith provided commentary.

Join the conversation on LinkedIn, and share your ideas and questions with us!

Larry Roth CEO Wealth Solutions Report

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