The Wire

April 30, 2019

$575M RIA Spectrum Management Group Announces Affiliation with Ron Carson; Rebrands to Carson Wealth

Spectrum Management Group, a boutique wealth management firm headquartered in Indianapolis, Indiana, today announced the team's decision to affiliate as a Carson Wealth office. Co-founders Bob Phillips and Leslie Thompson, who lead a team of eight, decided to affiliate with Carson Wealth to better serve their clients and expand the already advanced menu of services and resources available. Both firms believe in a shared focus on guiding clients to financial confidence by simplifying their financial lives.

Spectrum Management Group becomes Carson Wealth's fifth $500M+ AUM firm in the past year to take advantage of the increasingly popular equity swap option available to advisors. As with other advisors who have affiliated and rebranded as Carson Wealth offices, Phillips and Thompson will maintain active majority ownership of their firm and will remain the strategic decision-makers for all business decisions and operations in the Indianapolis office.

April 24, 2019

People are the Keys to Deal-Making

When it comes to deals, few things will facilitate or derail a deal the way the people involved will. Emotions and egos have an oversized impact on the success or failure of deals, and they can cause negotiations to rapidly break down over a perceived slight or imbalance that could have been worked out to everyone’s satisfaction.

I recently spoke with John Furey, the founder and principle of Advisor Growth, as a guest on my Fueling Deals podcast. John and his organization specialize in the financial advisor industry and in helping financial advisor firms grow, expand, strategize, and do deals of all kinds. John knows from firsthand experience the importance of keeping a level head and remaining fair to all parties involved, and he has also seen how emotions can have a chilling effect on deals.

April 24, 2019

Facilitating Deals and Growing Firms: Fueling Deals Podcast with Corey Kupfer

What You Will Learn:

  • John shares how he founded Advisor Growth Strategies as a go-to resource for professionals in the financial advisor industry. John describes the services and guidance his organization provides to its clients.
  • John describes the types of deals and transactions his organization has been involved in, with a wide range of values. He explains why most of the transactions they have worked on have been for multi-partner firms.
  • Learn why egos and emotions can be a detriment to any deal, potentially causing the deal to break down. John explains why a transaction advisor’s role is to make sure the numbers are fair for everyone and help smooth the process.
April 1, 2019

The great compensation shift: From solo stars to team players

Anne Marie Stonich knew she had to make a change.

After five years at Brighton Jones, a large Seattle RIA, Stonich and two colleagues at the firm wanted to run a business their own way.

“We felt we could play an even bigger role in our clients’ lives, and have more control of our own,” she says.

March 19, 2019

Crash test: How RIAs can survive the next recession

1. Get Out While You Still Can

Valuations for RIAs are approaching their pre-financial crisis highs, according to David DeVoe, managing parter at RIA M&A consultancy DeVoe & Company. RIAs looking to sell can command between 4x and 6x cash flow for an $100 million firm, 5.5x to 7x for a $500 million firm, and as much as 9.5x cash flow for a $1 billion firm, DeVoe said.

March 15, 2019

What advisors should know about the new valuation standard

What’s an RIA really worth?

Getting an answer, it seems, depends on what yardstick you use to measure it. Discounted cash flow has recently become the new de facto standard. But untangling how that model really operates, and what buyers and sellers should ultimately be keeping an eye on in the sales process, can be challenging.

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