The Wire https://www.advisorgrowthllc.com/the-wire.xml en Why M&A’s ‘M&M’ sluggers are hitting home runs https://www.advisorgrowthllc.com/the-wire/why-mas-mm-sluggers-are-hitting-home-runs <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> November 29, 2018 </div> <h2 class="title">Why M&amp;A’s ‘M&amp;M’ sluggers are hitting home runs</h2> <div class="body"> <p>Baseball greats Mickey Mantle and Roger Maris were known as the “M&amp;M Boys” when they were hitting home runs for the New York Yankees in the 1960s.</p> <p> A half-century later, the RIA business has their own pair of “M&amp;M” sluggers —Mariner Wealth Advisors and Mercer Advisors. In November alone, the two firms demonstrated their considerable M&amp;A prowess, snapping up four advisory firms with over $3 billion in combined assets under management.</p> </div> <div class="attachment pt-3"> <a href="https://www.financial-planning.com/news/why-advisory-firms-mariner-wealth-and-mercer-advisors-are-m-a-leaders" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Thu, 29 Nov 2018 18:27:36 +0000 rachael 499 at https://www.advisorgrowthllc.com Why building a multibillion dollar firm is not for the faint of heart https://www.advisorgrowthllc.com/the-wire/why-building-multibillion-dollar-firm-not-faint-heart <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> October 31, 2018 </div> <h2 class="title">Why building a multibillion dollar firm is not for the faint of heart</h2> <div class="body"> <p>If you want to become a multibillion dollar advisory firm, be prepared to make some hard decisions.</p> <p> Principals committed to growing their RIA into an enterprise firm need to recognize the difference between management and leadership, said Brent Brodeski, CEO of Savant Capital Management.</p> <p> “Management is telling people what to do,” Brodeski told advisors at a session titled “The Road to a Multi-billion Dollar Firm: Pushing Past Challenges and Setbacks” at Charles Schwab’s annual IMPACT conference. “Leadership is having a vision and attracting people to it.”</p> </div> <div class="attachment pt-3"> <a href="https://www.financial-planning.com/news/schwab-conference-dissects-multibillion-dollar-advisory-firms?feed=00000153-e2b7-dd48-a953-f2bfa2e10000" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Wed, 31 Oct 2018 17:23:43 +0000 rachael 498 at https://www.advisorgrowthllc.com AssetMark's big TAMP move https://www.advisorgrowthllc.com/the-wire/assetmarks-big-tamp-move <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> August 14, 2018 </div> <h2 class="title">AssetMark&#039;s big TAMP move</h2> <div class="body"> <p>AssetMark, the industry's third-largest turnkey asset management provider, hit the $50 billion mark by agreeing to buy Global Financial Private Capital, a $5.7 billion RIA that provides outsourcing services to around 200 advisors.</p> <p>Although the TAMP business is dominated by<a data-cms-ai="0" href="https://www.financial-planning.com/news/envestnet-faces-challenges-in-wealth-management">&nbsp;Envestnet</a>&nbsp;with over $500 billion advisor assets on its platform, AssetMark, headed by Charles Goldman, former head of Schwab Institutional and president of Fidelity's clearing and custody business, is making an aggressive push to catch number two SEI Advisor Network, which has around $65 billion in assets.</p> </div> <div class="attachment pt-3"> <a href="https://www.financial-planning.com/news/assetmark-buys-57b-ria?feed=00000153-9f90-d098-a37b-dfb9d93c0000" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 14 Aug 2018 18:24:09 +0000 Sophie 496 at https://www.advisorgrowthllc.com Getting to scale — the virtual solution https://www.advisorgrowthllc.com/the-wire/getting-scale-virtual-solution <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> July 17, 2018 </div> <h2 class="title">Getting to scale — the virtual solution</h2> <div class="body"> <p>The industry may be adding registered investment advisers annually, but it's also consolidating at a record pace for one reason: the power of scale. Highly competitive,, aggressive growth RIAs are reshaping the landscape.</p> <p>Armed with capital, they are harvesting RIAs seeking to sell or breakaways that don't want the burden of running their own firms. It seems that every week, another RIA joins the $1 billion club. I fully expect the emergence of a dozen or more very large regional and national RIAs.</p> </div> <div class="attachment pt-3"> <a href="http://www.investmentnews.com/article/20180717/BLOG09/180719926/getting-to-scale-x2014-the-virtual-solution" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 17 Jul 2018 21:05:48 +0000 Sophie 495 at https://www.advisorgrowthllc.com Dynasty Financial 2.0 takes big RIAs and applies 'McKinsey' tenets to extrude grand growth https://www.advisorgrowthllc.com/the-wire/dynasty-financial-20-takes-big-rias-and-applies-mckinsey-tenets-extrude-grand-growth <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> June 26, 2018 </div> <h2 class="title">Dynasty Financial 2.0 takes big RIAs and applies &#039;McKinsey&#039; tenets to extrude grand growth</h2> <div class="body"> <p>Shirl Penney bounded onto the scene in 2011 with the then novel proposition of being home to big breakaway stock brokers as they began life as RIAs, but with one big difference from roll-ups. He asked for no ownership stake. See:&nbsp;<a href="https://riabiz.com/a/2010/12/13/what-exactly-is-dynasty-financial-partners-and-why-is-the-smith-barney-execs-startup-gaining-so-much-attention" target="_blank">What exactly is Dynasty Financial Partners and why is the Smith Barney execs' startup gaining so much attention?</a></p> <p>Seven years later, the CEO of Dynasty Financial Partners is using a novel pitch to pursue&nbsp;another&nbsp;new market -- existing&nbsp;RIAs with AUM starting at $1 billion, but lacking the nous to take the next step. The bet is that Dynasty is primed for an upmarket move and that big RIAs are ready for the tough-love advice and expanded "synthetic" scale that the firm will&nbsp;deliver.</p> </div> <div class="attachment pt-3"> <a href="https://riabiz.com/a/2018/6/26/dynasty-financial-20-takes-big-rias-and-applies-mckinsey-tenets-to-extrude-grand-growth-a-leap-from-midwifing-brokers-to-ria-status-then-nursing-them-to-health" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 26 Jun 2018 16:51:54 +0000 Sophie 493 at https://www.advisorgrowthllc.com $3B deal of Edelman, Financial Engines puts other RIAs in the hot seat https://www.advisorgrowthllc.com/the-wire/3b-deal-edelman-financial-engines-puts-other-rias-hot-seat <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> April 30, 2018 </div> <h2 class="title">$3B deal of Edelman, Financial Engines puts other RIAs in the hot seat</h2> <div class="body"> <p>In a blockbuster deal seen as remaking the digital advice landscape, robo advice pioneer Financial Engines is being bought for $3 billion and combined with Edelman Financial Services. Private equity firm Hellman &amp; Friedman, which is a majority shareholder in Edelman, agreed to pay $3.02 billion in an all-cash transaction. The deal is expected to be completed by the end of the third quarter. <a class="btn" href="https://www.financial-planning.com/news/3b-edelman-financial-engines-deal-puts-rias-in-hot-seat" target="_blank">Read More</a></p> </div> </div> Mon, 30 Apr 2018 17:55:37 +0000 trent 223 at https://www.advisorgrowthllc.com Coaches Help Advisors Sharpen Their Processes And Woo Prospects https://www.advisorgrowthllc.com/the-wire/coaches-help-advisors-sharpen-their-processes-and-woo-prospects <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> February 16, 2018 </div> <h2 class="title">Coaches Help Advisors Sharpen Their Processes And Woo Prospects</h2> <div class="body"> <p>Just as professional athletes benefit from coaching, so can advisors. Knowledgeable outsiders can spot holes in one's performance and suggest ways to plug them. In helping advisors grow their business, consultants often focus on processes and work habits. For example, advisors may lack systems to generate referrals, manage their time or build a thriving team.</p> <p>Even if advisors think they operate efficient businesses, they may still want to improve. By enlisting a coach, they can reset their priorities and identify better ways to attract and retain clients.</p> </div> <div class="attachment pt-3"> <a href="https://www.nasdaq.com/article/coaches-help-advisors-sharpen-their-processes-and-woo-prospects-cm923017" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Fri, 16 Feb 2018 16:58:28 +0000 Sophie 494 at https://www.advisorgrowthllc.com The biggest obstacles to building a billion-dollar RIA https://www.advisorgrowthllc.com/the-wire/biggest-obstacles-building-billion-dollar-ria <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> February 1, 2018 </div> <h2 class="title">The biggest obstacles to building a billion-dollar RIA</h2> <div class="body"> <p>The goal for most advisers is to increase the size of the firm, both in assets under management and the number of employees. But as the late rapper Notorious B.I.G. once said, "Mo money, mo problems." The Alliance for Registered Investment Advisors, a think tank of entrepreneurs behind some of the most successful RIAs, discussed the setbacks of building a billion-dollar firm at the TD Ameritrade National LINC conference Thursday. The panelists agreed that growth requires talented employees, but finding and hiring the right people is often one of the hardest challenges. <a class="btn" href="http://www.investmentnews.com/article/20180201/FREE/180209988/the-biggest-obstacles-to-building-a-billion-dollar-ria" target="_blank">Read More</a></p> </div> </div> Thu, 01 Feb 2018 16:21:31 +0000 trent 224 at https://www.advisorgrowthllc.com Ron Carson 'arrived' after investing $52 million, grabbing Orion and TD talent and letting his hair down https://www.advisorgrowthllc.com/the-wire/ron-carson-arrived-after-investing-52-million-grabbing-orion-and-td-talent-and-letting-his <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> January 23, 2018 </div> <h2 class="title">Ron Carson &#039;arrived&#039; after investing $52 million, grabbing Orion and TD talent and letting his hair down</h2> <div class="body"> <p>Brooke's Note: Pity the reporter who writes about Ron Carson's new venture. Randy Diamond quickly learned there are so many layers and aspects. The question is whether what Carson has built is an advisory business maestro unveiling his master work in the prime of life at 53. Or whether The Orator of Omaha has created an organization in Carson Group and Carson Wealth Management with too many moving parts and too reliant on his giant personality. Not that Carson is asking those questions or betraying anything that sounds like doubt in an interview I did with him in the editing phase to be sure I was getting the whole drift. He kept returning the conversation to his vision, which includes soon having to compete with Amazon and other great data-rich e-commerce companies on price, web experience and marketing power. Carson discussed how he sat beside Mark Hurley at a Fidelity M&amp;A event and got a refresher course on Undiscovered Managers. He buys the Hurley vision but on steroids with Amazon looming. <a class="btn" href="https://riabiz.com/a/2018/1/23/ron-carson-arrived-after-investing-52-million-grabbing-orion-and-td-talent-and-letting-his-hair-down" target="_blank">Read More</a></p> </div> </div> Tue, 23 Jan 2018 19:01:47 +0000 trent 226 at https://www.advisorgrowthllc.com An RIABiz advertising exec derives hard meanings from soft comments made by big shots at MarketCounsel Summit https://www.advisorgrowthllc.com/the-wire/riabiz-advertising-exec-derives-hard-meanings-soft-comments-made-big-shots-marketcounsel <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> December 12, 2017 </div> <h2 class="title">An RIABiz advertising exec derives hard meanings from soft comments made by big shots at MarketCounsel Summit</h2> <div class="body"> <p>Brooke's Note: The most overused theme for an RIA speech is "the future of wealth management." Typically, such talks are neither about wealth management nor the future, unless platitudes about digital wealth count. But RIABiz marketing exec Graham Thomas's listening skills, powers of observation and follow-up interviews at last week's Summit yield a useful glimpse into how a swath of how the more successful and ambitious characters in the RIA business are taking their companies into the bright future of wealth management. These execs are coming off of adverse events in the past year, or years, and making halftime adjustments. <a class="btn" href="https://riabiz.com/a/2017/12/12/an-riabiz-advertising-exec-derives-hard-meanings-from-soft-comments-made-by-big-shots-at-marketcounsel-summit%22%20class=%22btn%22%20target" target="_blank">Read More</a></p> </div> </div> Tue, 12 Dec 2017 14:12:14 +0000 trent 225 at https://www.advisorgrowthllc.com