A Better Client Experience – Driven By Wealthtech

Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

Plus FSI’s Advocacy Initiatives, Our Weekly News Roundup, Our Guide To Regulatory Conferences, Multi-Generational Wealth, Diversity, Headwinds For RIAs, AlTi And iCapital Make Acquisitions, Sanctuary Recruits And Hires, And Kingswood Expands Investment Banking Team

Advisors who provide an excellent client experience have an edge in retention and growth, and much of the improvement in client experience is coming via wealthtech advancements. This week in my quarterly wealthtech review, I examine the changes that wealthtech is bringing to client experience, asking experts about recent advancements, future predictions and client demands.

We also bring you our weekly Deals & Recruiting Roundup, FSI’s priorities for 2024, our Guide To Industry Conferences: Compliance, Governance and Regulatory, Regent Peak’s advice on preserving multi-generational wealth, Docupace on diversity and innovation, Private Advisor Group on the headwinds facing small RIAs, iCapital’s acquisition of Mirador, Kingswood’s expansion of its Investment Banking team, AlTi’s acquisition of East End Advisors and Sanctuary’s new hires and advisor recruits.

Going forward, our weekly and monthly roundups also will include an entry dedicated to wealth management-related activity at wirehouses or big banks. Whether it’s advisor moves, M&A, technology or investment strategy, players in the independent channel need to know what’s happening in the broader industry in order to make the best decisions for their firms and clients.

Deals & Recruiting Roundup: This edition covers Creative Planning acquiring ML&R Wealth Management, EP Wealth acquiring Wacker Wealth Partners, OneDigital acquiring Legacy Asset Management, Sequoia acquiring AltruVista, Sanctuary recruiting Vincita Investment Partners, Stratos recruiting Reno Tahoe Wealth Management, Savvy recruiting David Gottlieb, tru Independence helping launch Mindset Wealth Management, Choreo making four senior leadership appointments, Oppenheimer appointing a new Director Of Equity Research, Hightower appointing THL Partners’ Gurinder Ahluwalia as President and wirehouses dominating the Forbes/SHOOK Top Wealth Advisors ranking.

Through your client’s eyes: My latest quarterly review of the wealthtech space discusses how wealthtech is advancing the client experience, with expert views from Sindhu Joseph, CEO & Co-Founder of CogniCor; Brian McLaughlin, President of Orion Advisor Technology; Wade Spencer, Managing Director & Industry Lead at F2 Strategy; and Sid Yenamandra, Co-Founder of Surge Ventures and CEO at RegVerse.

Innovation and diversity: Docupace EVP – Product Management, Liz Pavlik, speaks with us about the benefits of a diverse workplace and the ongoing shift from administrative tasks to strategic initiatives.

Preserving multi-generational wealth: Craig Robson, Founding Principal & Managing Director of Regent Peak Wealth Advisors, says that 70% of affluent families lose their wealth in two generations and explains how advisors can guide clients to maintain that wealth.

FSI’s 2024 advocacy priorities: Dale Brown, President and CEO of the Financial Services Institute, lays out the organization’s stance on the independent contractor classification, SEC rulemaking, regulation by enforcement, standard of care, and investor education and protection.

Facing the headwinds: Verne Marble, Director of Business Development at Private Advisor Group, describes the challenges that small, independent RIAs face and how a firm can plan a course of action to confront those challenges.

Alternative acquisition: Over 180 employees at wealthtech firm Mirador are expected to join iCapital, which is acquiring it, after the deal closes. Lawrence Calcano, CEO and Chairman of iCapital and Joseph Larizza, CEO and President of Mirador, provide comments.

Which conference? Our Guide To Industry Conferences: Compliance, Governance and Regulatory covers what you need to know about the FINRA Annual Conference, ComplyConnect Conference & Expo, MarketCounsel Summit, FSI Forum & Capitol Hill Day, and FSI OneVoice.

Executive expansion: Sanctuary Wealth grew its executive team by hiring Michael Goldfader as West Coast Regional Managing Director and Michelle McIntyre as National Business Development Officer. Both will report to President Vince Fertitta. Fertitta, McIntyre, Goldfader and CEO Adam Malamed comment.

Growing the banking team: Kingswood U.S. continues the expansion of its Investment Banking team with the hires of Braden Ferrari, David Braccia, Evan Wynn and Jacob Wilson. The firm’s CEO, President and Managing Partner, Michael Nessim, comments.

New York acquisition: AITi Tiedemann, led by CEO Michael Tiedemann, is acquiring New York firm East End Advisors, with approximately $5.6 billion in AUM, at an initial purchase price of about $76 million. Tiedemann, East End’s President David Salomon and AlTi Co-Head, Business Development Strategy Andrew Douglass provide commentary.

North Carolina recruit: Sanctuary Wealth added Vincita Investment Partners, a Greensboro, North Carolina-based breakaway advisor firm with $700 million in client assets. JJ Marus and Lauren Norris, Vincita Co-Founders and Managing Partners, are the latest wirehouse breakaways to launch a firm on Sanctuary’s Partnered Independence platform, according to President Vince Fertitta. CEO Adam Malamed also comments.

Connect with us on LinkedIn and share your ideas, questions and suggestions with us!

Larry Roth
Wealth Solutions Report

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