It’s Time To Talk With Your Clients About Cash  

Plus BetaNXT Advises On The AI Long Game, Our Deals & Recruiting Roundup, Cerity’s OCIO-Focused Merger, AlphaTrAI’s New President, Surge Ventures Acquires Kovair, Stratos Private Wealth Expands, Choreo’s CIO And More
Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

In the last few weeks predictions for Fed rate cuts have decreased, reflecting movements in inflation, employment and other economic data. As a “higher for longer” scenario becomes more firmly entrenched, the case strengthens for cash investments, as well as its attractiveness to clients. This week, we explore the ins and outs of cash investments with three Dynasty affiliates.

In addition, we bring you our latest weekly news roundup, BetaNXT’s views on the right way to incorporate AI, Cerity Partners’ merger with Agility, AlphaTrAI’s new President, Stratos Private Wealth’s expansion, Surge Ventures’ acquisition of Kovair, Diversify’s employee affiliation platform growth and Choreo’s appointment of a CIO.

Deals & Recruiting Roundup: Meet our newest Recruiter Of The Month, Mike Sullivan, Co-Founder and Chief Growth Officer at OneDigital. We also cover Cerity Partners merging with Agility; Focus Financial Partners agreeing to merge InterOcean Capital Group into The Colony Group; Waverly Advisors acquiring McShane Partners, Stratos Private Wealth expanding in New Jersey and New York; Fairvoy Private Wealth launching through Dynasty Financial Partners; launching a Sales Development Representative service, Diversify Advisor Network adding Key Advisors; Burt White taking over as CEO of Carson Group from Ron Carson; Choreo appointing Matthew Gotlin as CIO; and UBS recruiting from J.P. Morgan.

The long game: Advisors should plan for the long game in AI, according to Don Henderson, CTO of BetaNXT, who encourages firms to avoid the hype, plan a long-term implementation strategy, develop trusted data and safeguard client privacy.

Client cash: We reached out to executives at three Dynasty affiliates: Ted Brooks, Chief Investment Strategist, Nordwand Capital; Matt Liebman, Founding Partner and CEO, Amplius Wealth Advisors; and Tom Gogola, VP, Investment Strategies, Aaron Wealth Advisors, to discuss how advisors can guide clients on cash investments.

Private wealth expansion: Stratos Private Wealth expanded its presence into southern New Jersey and Westchester County, New York, by rebranding Heald Financial Advisors as Stratos Private Wealth – South Jersey and Claricity Wealth & Planning as Stratos Private Wealth – Westchester. Jeff Brown, President and Founder of Stratos Private Wealth, and Lou Camacho, President of Stratos Wealth Enterprises, comment.

Tech veteran onboarded: AI wealthtech firm AlphaTrAI hired fintech and financial services veteran John Sweeney as President. Sweeney and the firm’s CEO and Chairman, Bill Dwyer, provide commentary.

Enterprise integration: Technology investment firm Surge Ventures acquired Kovair Software, which will allow Surge to launch an enterprise integration platform for the wealth management industry. Sid Yenamandra, CEO and Founder of Surge, was appointed CEO of Kovair and Kovair’s former CEO Bipin Shah will step down but remain on Kovair’s board.

Leadership buildout: Choreo appointed Matthew Gotlin as Chief Investment Officer. Gotlin, who arrived at Choreo through the acquisition of BDO USA’s affiliated wealth management business, is the latest in a series of senior appointments for the firm. Gotlin and CEO Larry Miles provide commentary.

New platform: Diversify Advisor Network announced that its independent affiliate Key Advisors Wealth Management transitioned to its employee affiliation platform, Diversify Wealth Management. Key Advisors Co-Founder and CEO Eddie Ghabour will become an equity holder in Diversify Advisor Network. Ghabour and Diversify Advisor Network Co-Founder and CEO Ryan Smith comment.

Outsourced CIO merger: RIA Cerity Partners, led by CEO Kurt Miscinski, said it will manage about $100 billion in client assets after acquiring and merging with Denver-based Agility. Agility, led by Partner, CEO and CIO, Chris Bittman, is the investment outsourcing business of investment bank Perella Weinberg Partners.

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

Larry Roth
Wealth Solutions Report

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