Blending Recruiting And M&A Through Equity Stakes

Plus Our Wealthtech Roundup, Deals & Recruiting Roundup, Marcoms For Retirement Business, Sanctuary And tru Independence, BlackRock Buys Preqin, Stifel Launches Its Women Owners’ Network, EP Wealth’s Acquisition And AI In The Back Office
Larry Roth, CEO, Wealth Solutions Report
Larry Roth, CEO, Wealth Solutions Report

In recent years, the trend of large home offices providing corporate RIA or broker-dealer services purchasing equity stakes in the affiliates they serve has increased. While this may provide a capital injection, it clearly comes with strings attached and adds layers of complexity to the relationship between the home office and the affiliate. This week, we bring you the views of industry veterans from NewEdge, Bridgemark, AmeriFlex and Stratos about the pros and cons of this continuing trend.

We also have our weekly Deals & Recruiting Roundup and monthly Wealthtech Roundup. Our monthly Marcoms Roundtable examines the best marcoms strategy for advisors to reach the retirement plan space with experts from Ficomm, Vocatus and Water & Wall. Sanctuary’s President describes the firm’s direction after the tru Independence acquisition.

In addition, we bring you BlackRock’s purchase of Preqin; Stifel’s launch of its Women Owners’ Network; expert views from CogniCor, Docupace and Sanctuary on AI; and EP Wealth’s Dallas acquisition.

Deals & Recruiting Roundup: Meet our newest Recruiter of the Month, Aidan Walsh, Head of Corporate Development at AlphaCore Wealth Advisory. We also cover Focus agreeing for Relative Value Partners Group to join Kovitz Investment Group Partners, EP Wealth Advisors acquiring Sloan Investment Management, Wealth Enhancement Group acquiring Starfox Financial Services, Cetera recruiting three advisors, LPL onboarding five advisors, Private Advisor Group bringing on Delisanti Wealth Management, Steven Tenney launching the Grandview & Co. coaching firm, AssetMark hiring Desireé Sii as Head of Strategic Accounts, Wealthspire appointing Eric Castillo as CTO and promoting Angela Giombetti to CMO, and Jose Minaya becoming Global Head of BNY Investments and Wealth.

Wealthtech Roundup: Meet our newest Wealthtech Leader of the Month, Colin Falls, CEO of GeoWealth, who discusses his firm’s partnership with BlackRock on custom models, including for private markets. Other entries include BlackRock agreeing to acquire Preqin, Orion introducing Orion Trading and Foundation Stack, Syntax providing market share data that underlies the S&P 500 Economic Moat Index, Altruist launching TaxIQ, TIFIN Give integrating with AssetMark on donor-advised fund solutions, Kovair joining the Boomi Technology Partner Program, Interactive Brokers releasing an advisor survey, launching Family Office Suite, Vestmark partnering with PureFacts Financial Solutions on fee billing and Morgan Stanley launching an OpenAI-powered notetaker for advisor-client meetings.

Pros and cons of equity stakes: Experts examine the pros and cons of large enterprises acquiring equity stakes in the RIAs and other independent wealth management businesses they’re also serving. We bring you the views of Neil Turner, Co-CEO, NewEdge Advisors; Jeff Nash, CEO and Co-Founder, Bridgemark Strategies; Jesse Kurrasch, Chief Operating Officer, The AmeriFlex Group; and Lou Camacho, President, Stratos Wealth Enterprises.

Retirement plan marcoms: To learn the best marcoms strategy for advisors joining the trend toward the retirement plan space, we spoke with Candice Carlton, EVP, Head of Consulting & Innovation at Ficomm Partners; Ray Hennessey, CEO of Vocatus; and Kevin Santo, Senior Account Executive at Water & Wall.

After the acquisition: We spoke with Vince Fertitta, President of Sanctuary Wealth, about the firm’s combination with tru Independence. Fertitta discussed competitive advantages, each firm’s role, scale and how the firms work together.

Billions for big data: BlackRock is acquiring Preqin, an independent provider of private markets data, for about $3.2 billion in cash, in a move to combine Preqin’s data and research tools with the workflow capabilities of BlackRock’s Aladdin tech business in a unified platform. Preqin Founder Mark O’Hare, BlackRock COO Rob Goldstein and Aladdin Global Head Sudhir Nair provide comments.

Empowering women: Stifel Investment Advisors completed its inaugural Women Owners’ Network event, designed to provide networking, education and empowerment to female independent business owners. The firm’s COO Tim Boostrom and its affiliate Freehold Wealth Management’s President Cindy Boyle provide comments.

AI in the back office: We discuss the demand for AI solutions in the back office and its potential uses with Sindhu Joseph, CEO and Co-Founder of CogniCor; Ryan George, Chief Marketing Officer at Docupace; and Robert Coppola, Chief Technology Officer of Sanctuary Wealth.

Dallas M&A: EP Wealth acquired $700 million Sloan Investment Management, based in Dallas, bringing EP Wealth’s assets to $25.2 billion. Managing Partner Frank Sloan will become Regional Director, Partner at EP Wealth. Sloan and EP Wealth CEO Ryan Parker provide comments.

Connect with us and our growing community on LinkedIn, and share your favorite articles with friends and colleagues!

Larry Roth
Wealth Solutions Report

Related Posts
Read More

Crypto’s Evolution From NFTs To ETFs

Plus Our Deals & Recruiting And Investments Roundups; Benefits Of Positive Culture; Recruiting By LPL, Summit Trail And Summit Financial; Soltis’ New PE Backers; Vestmark’s Partnership With PureFacts; And MMI’s Leadership Seminar

Sign Up for Our Newsletters

Sign Up for Our Newsletters