Announcing The Top Women Industry Leaders

Plus My Quarterly M&A Review, AI And Behavioral Finance, The Deals & Recruiting Roundup, Binah Capital Goes Public, Raymond James’ Executive Moves, Proactive Compliance, Early Succession Planning, FusionIQ’s New Strategic Advisor, Caprock’s First Acquisition And Vestmark’s Partnership With Pensionmark
Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

We’re always excited to call out excellence and leadership in wealth management, including today, as we announce the Top Women Industry Leaders of 2024 as part of our Pathfinder Awards series. The awards recognize outstanding professionals, executives and advisors from underrepresented groups in wealth management. This month, our awards coincide with Women’s History Month.

In addition to the awards announcement, we bring you four feature profiles of winners sharing their perspectives on women’s advancement and more. We also have my quarterly take on M&A, our weekly Deals & Recruiting Roundup, the launch of an AI-based behavioral finance assistant, FusionIQ’s new hire, Raymond James’ C-suite changes, Smartria’s views on proactive compliance, an interview with Binah Capital’s CEO, Caprock’s first acquisition, LaSalle St.’s advice on succession planning and a digital platform launch by Pensionmark and Vestmark.

Women leaders: This week we continue our tradition of WSR Pathfinder Awards by naming the winners of the Top Women Industry Leaders of 2024 in honor of Women’s History Month. This is our third installment of winners for Women’s History Month and the 10th for the Pathfinders.

Diverse perspectives: Kylee Beach, General Counsel of Orion Advisor Solutions, is our Legal Officer of the Year as part of the Top Women Industry Leaders of 2024. She explains how mentorship, community and diverse perspectives strengthen the industry, and relates what inspires her in her career.

Demonstrating leadership: Our CMO of the Year as part of this month’s Pathfinder Awards, Marissa Fox-Foley, CMO of Choreo, shares her experiences as a woman leader in her firm and keys to successful marketing during acquisitions.

Career advice: Our CIO of the Year as part of this month’s Pathfinder Awards, Marta Norton, Chief Investment Officer for the Americas at Morningstar Wealth, gives advice to women considering investment careers and describes her approach to managing nearly a quarter trillion in assets.

Strategies to empower: Our Top Women Industry Leaders of 2024 winner in the category of Strategy Executive of the Year, Dimple Shah, EVP, Head of Corporate Strategy at Osaic, discusses corporate strategies to empower women in senior roles and her firm’s strategic vision and objectives.

My quarterly M&A review: I explore how the M&A landscape is contending with high interest rates, lofty RIA valuations and careful buyers. Bomy Hagopian, Partner at Berkshire Global Advisors; Mike Papedis, Founder and CEO of Fusion Financial Partners; Alex Goss, Managing Partner at NewEdge Capital Group and CEO of NewEdge Advisors; as well as Tarah Williams, President and COO of Prospera Financial Services, provide comments.

Deals & Recruiting Roundup: Meet our newest Recruiter Of The Month, Nate Lenz, CEO and Co-Founder of Concurrent Investment Advisors. We also cover Caprock acquiring Grey Street, BBVA Global Wealth Advisors launching in Miami, Osaic recruiting Kings Mill Wealth Advisors, Journey recruiting Meath Wealth Advisors, Integrated Partners helping to launch WFY Wealth Management, Focus formalizing its relationship with Flourish, the launch of M&A advisory Hue Partners, Raymond James appointing CFO Paul Shoukry as President and its next CEO, and The Colony Group appointing Sheila Ryan as President of Colony Wealth Management.

BeFi joins AI: AI company Alai Studios and coaching solutions provider Shaping Wealth launched Lydia, an AI-based behavioral finance assistant that helps advisors with clients’ emotional needs. Shaping Wealth Founder Brian Portnoy and Alai Studios Founder and CEO Andrew Smith Lewis comment.

Strategic hire: FusionIQ expanded its management team by appointing three-decade veteran John Phillips as Senior Strategic Advisor. The firm’s CEO, Mark Healy, comments.

C-suite rotations: Raymond James announced changes in its executive lineup: CFO Paul Shoukry is now President and expected to become CEO, current Chair and CEO Paul Reilly will remain as Executive Chairman of the firm’s board, and more.

Proactive compliance: Patrick Hunt, CEO of Smartria, says that RIAs should proactively manage compliance to avoid being caught off guard as the SEC announces enforcement measures. He sets out steps for a firm to ensure it has compliance issues under control for the future.

Plan ahead: Mark Contey, CMO of LaSalle St., makes the case that advisors should plan for succession early, proactively and comprehensively to provide the best results for themselves and their clients.

Publicly traded BDs: Binah Capital Group’s CEO Craig Gould discusses the merger of Wentworth Management Services and Kingswood Acquisition Corp. and the launch of Binah Capital Group as a publicly traded company, as well as the future of wealth management.

First acquisition: Caprock Co-CEOs Greg Brown and Bill Gilbert speak with us about their recent acquisition – and their first – of $2.2 billion, Chicago-based Grey Street Capital. They address why they made this acquisition now, what it means for their firm, and their future plans.

Digital platform: Vestmark and Pensionmark partnered to create a digital wealth management platform that will provide access to SMAs, UMAs and curated investment options, as well as helping advisors transition assets to the Pensionmark platform. Vestmark CEO Karl Roessner and Pensionmark CIO Nate Garrison provide comments.

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Larry Roth
CEO
Wealth Solutions Report

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