WSR Honors Top Advisor Recruiters

Plus Our Deals & Recruiting Roundup, Next Gen Clients, Cash Risks, Marcoms Strategies For Recession, Mercer’s Private Investment Platform, MMI Awards Innovation, A Growth Enhancement Program, And Sanctuary’s And Stratos’ Recruiting Wins
Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

It would not be an exaggeration to say that recruiting advisors is critical to success for wealth management firms large and small. Some of the brightest minds and most hardworking executives in our industry focus on the advisor recruiting process, both in-house and at third-party recruiting specialists. This week, we honor the 10 most outstanding industry leaders who have demonstrated success in advisor recruiting.

We also bring you our Deals & Recruiting Roundup, Axtella on reaching Next Gen clients, Avantax on cash versus fixed income, tilting marcoms strategies in recession, and Sanctuary’s and Stratos’ recruits. Plus, Mercer and Opto launch a private investments platform, Red Rock launches a program for growth-oriented RIAs and MMI awards its Executive IQ Capstone Innovation Project winner.

Top recruiters: We honor the wealth management industry’s top third-party and in-house financial advisor recruiters from Diamond Consultants, Commonwealth, Hightower, Fidelity, Bridgemark, Cross-Search, LPL, Stratos, RFG and TERRANA GROUP.

Deals & Recruiting Roundup: Meet our newest Recruiter of the Month, Pat McHugh, Managing Director, Head of Investments at Constellation Wealth Capital. We also cover Corient acquiring Paragon Advisors, Beacon Pointe acquiring Joslin Capital Advisors, Cetera’s TRPG acquiring Lee Financial Group Hawaii, Allworth acquiring Stewart & Patten Company, Merrill Lynch breakaways launching Alteri Wealth, Stratos onboarding Pistone Wealth Advisors, Mercer partnering with Opto Investments to launch Aspen Partners, RWA Wealth Partners promoting Michelle Knight to CEO, Sequoia appointing Gee Smith as Head of its family office unit and RBC recruiting The Taggart Group from J.P. Morgan.

Recession-proof marcoms: When markets are good, it pays to think ahead. If recession strikes, advisors must be ready to reconfigure their marcoms strategies. To learn how, we speak with Kelly Waltrich, Co-Founder and CEO of Intention.ly; Lisa Graham, Co-Founder and CEO at Graham Media Partners; and Jonny Swift, Vice President and Director Of Social/Digital Strategy at Impact Communications, in this month’s Marcoms Roundtable.

Cash isn’t king? Cash investments have experienced a revival with high interest rates this year. Jennifer Hutchins, VP, Co-Chief Investment Officer at Avantax Wealth Management, addresses the risks in cash investments and how fixed income investments can mirror cash while reducing risks.

Next Gen clients: Maria Bethel, SVP of Marketing and Communications of Axtella, describes strategies to reach millennial and Gen Z clientele, including experiences, digital tools and understanding their values and perspectives.

Private platform: Mercer Advisors partnered with wealthtech firm Opto Investments to expand its private markets offering for clients by launching the Aspen Partners platform. Mercer Advisors’ President, Daniel Gourvitch, and CIO, Donald Calcagni, provide comments.

Leaving the wirehouse: Sanctuary Wealth partner firm SLK Private Wealth recruited a $300 million team from Wells Fargo. The advisors, Adam Weinstock and Eleanor Weinstock, are based in Los Angeles. Adam Weinstock and Sanctuary President Vince Fertitta comment.

Aiming at organic growth: Red Rock Strategic Partners and Marc Butler Consulting launched the RIA Executive Engine, a program aimed to help advisory businesses drive improvements, including organic growth. Marc Butler and Red Rock’s CEO Matt Johnston provide comments.

Second Cleveland recruit: Stratos Wealth Advisors onboarded multi-generational advisory firm Pistone Wealth Advisors, its second Cleveland-area recruit in a week. Pistone’s President and CEO, Karyn Pistone, provides comments, along with Charles Shapiro, a Founding Partner and Chief Development Officer of Stratos Wealth Partners.

An innovational capstone: The Money Management Institute (MMI) named Team SCALE its 2024 winner of the Executive IQ Capstone Innovation Project. Thirteen teams in the Executive IQ one-year executive-level professional accelerator and certification program competed in the final three-month project. MMI President and CEO Craig Pfeiffer and Darden School of Business Professor Richard Evans, who is faculty advisor to the Executive IQ program, provide commentary.

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Larry Roth
CEO
Wealth Solutions Report

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