RIA Roundup: New Sell-Side Advisory Firm Launches
Wealth Management
MARCH 22, 2024
Created by former Mariner and Focus dealmakers, Hue Partners is all about the human aspect of RIA M&A.
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Wealth Management
MARCH 22, 2024
Created by former Mariner and Focus dealmakers, Hue Partners is all about the human aspect of RIA M&A.
Nerd's Eye View
APRIL 1, 2024
SmartAsset launches an Advisor Marketing Platform to help advisors buying SmartAsset leads to automate the follow-up and nurture of those leads, from automated calls and text messaging to nurture emails, in an effort to lift lead quality and conversion rate.
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Nerd's Eye View
MARCH 26, 2024
We also talk about Michael's advisor journey that began with selling Gateway Computer "Cow Boxes" in college (and getting used to the No's that came along with computer sales) and how Michael channeled that comfort-with-hearing-No into his career shift into wealth management with a process that has a "20 leads to 3 prospects to 1 new client" marketing (..)
Nerd's Eye View
JULY 3, 2023
Welcome to the July 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Nerd's Eye View
FEBRUARY 5, 2024
Welcome to the February 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Nerd's Eye View
OCTOBER 2, 2023
Read the analysis about these announcements in this month's column, and a discussion of more trends in advisor technology, including: Brand design consultancy firm Intention.ly
The Big Picture
APRIL 11, 2024
They continued to drift lower, until 2019, when Schwab became the first major firm to offer free trading. Vanguard launched in 1974, to surprisingly little notice. A new bull market broke out in 1982. Lower trading costs, a rampaging bull market, and tax-deferred investing led to millions of new entrants into markets.
Nerd's Eye View
JULY 25, 2023
In this episode, we talk in-depth about how Rita experienced the evolution of broker-dealer platforms throughout her decades-long career where the technology and compliance, that was once the core of what Super-OSJs provided, is now increasingly supplanted by more in-depth services to support their advisors, how Rita has grown and scaled her platform (..)
Abnormal Returns
NOVEMBER 7, 2022
wsj.com) Advisers are scrambling to get into compliance with new advertising rules. riabiz.com) Fifth Third Bank ($FITB) has launched an independent wealth advisory firm. advisorservices.schwab.com) Insights from the Schwab study including why firms that have an 'ideal client persona' tend to thrive.
Nerd's Eye View
DECEMBER 4, 2023
Welcome to the December 2023 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Nerd's Eye View
SEPTEMBER 12, 2023
Jason is the CEO of Altruist, a relatively new RIA custodian that has quickly grown to serve more than 3,500 advisory firms across the country, making it the 4th-largest independent RIA custodian by firm count. Welcome back to the 350th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Jason Wenk.
Nerd's Eye View
JULY 31, 2023
Many financial advisors who launch solo advisory firms do so with the intention of adding more employees once the firm becomes big enough to support them. There are 2 points in a firm's growth journey that can help solo advisors decide when to make their first hire.
Abnormal Returns
APRIL 10, 2023
(financial-planning.com) Frazer Rice talks family offices with Edward Marshall, Head of the Global Family Office at Dentons, the international law firm. podcasts.apple.com) Direct indexing Savvy Wealth has launched a direct indexing tool. etftrends.com) How to create a better onboarding process for new employees. nytimes.com)
Nerd's Eye View
MARCH 12, 2024
What's unique about Eric, though, is that Abundo has grown its base of 420 clients, and is on pace for well over $1M of revenue in 2024, despite having launched barely 4 years ago… with an "advice-only" business model of providing comprehensive financial planning for $189/month and helping clients implement themselves, that has generated so much (..)
Nerd's Eye View
JULY 26, 2022
Amy is the owner of Rooted Planning Group, an independent RIA based in Corning, New York that oversees $67 million in assets under management for 175 client households.
Nerd's Eye View
JUNE 12, 2023
While 2023 got off to a bumpy start for many advisory firms, still smarting from a rough prior year of market returns (and volatile revenue), a relative return to ‘normalcy’ means that for most, the advisory business has reached whatever its new post-pandemic normal will be.
The Big Picture
JUNE 3, 2023
Sethi is also the host of the Netflix series “ How To Get Rich ,” which is based on his New York Times bestselling book “ I Will Teach You to Be Rich “; he also hosts a podcast of the same name. His interest in the subject started in 2004, when he was studying technology and psychology at Stanford University.
Abnormal Returns
JUNE 12, 2023
citywire.com) Wealthfront has launched Automated Bond Portfolio. wsj.com) Adviser tech Pershing X has launched a new wealth management platform, Wove. riabiz.com) Canadian private equity firm Altas Partners has agreed to invest in Mercer Global Advisors. etftrends.com) Robo-advice Why the SEC is scrutinizing robo advice.
The Big Picture
JANUARY 20, 2024
Businessweek ) • America’s New Business Boom : Americans Have Been Forming New Businesses at Record Rates. New Yorker ) • The Barcode Engineered Its Own Downfall : For decades, the tiny symbol has been the plumbing of global capitalism. But is This a Real Startup Boom—or Just The Rise of Gig Work and Side Hustles?
Nerd's Eye View
JANUARY 26, 2023
For many financial advisory firm owners, growth is often the primary goal in the early years of launching a business. Advisory firm owners can start by assessing how growth would impact themselves, their employees, and the firm.
Nerd's Eye View
NOVEMBER 7, 2022
This month's edition kicks off with the news that a new RIA custodian – Entrustody – has launched, as independent RIAs continue to clamor for more alternatives than what has now become the ‘Big 2’ of Schwabitrade and Fidelity.
Abnormal Returns
JULY 3, 2023
Fintech Why fintech startups need advisers onboard to help them sell to wealth management firms. beehiiv.com) A round-up of the past month's advisor-tech news including Vanilla's new "estate advisory" platform. riaintel.com) How iCapital is spending its capital - launching iCapital Marketplace. matts-newsletter-7a3f46.beehiiv.com)
Nerd's Eye View
MAY 4, 2023
One of the biggest challenges faced by solo financial advisory firm owners as their firms grow and encounter capacity issues is deciding whether (and when) to hire an employee. Furthermore, determining the right time to hire an employee and which role to hire first can also be challenging decisions for solo firm owners.
Wealth Management
OCTOBER 23, 2023
The firm has also launched a new capital solutions program, as it kicks off its annual ConnectED conference this week.
Nerd's Eye View
AUGUST 29, 2022
For most advisory firms, 2022 has been a year of relative stability, market volatility notwithstanding. Which means now it’s time once again to take at least a brief pause to get some feedback about how we’re doing. Because we really do take your feedback seriously.
Nerd's Eye View
DECEMBER 2, 2022
Also in industry news this week: Why a former SEC official expects the regulator to come out swinging when it comes to enforcing its new marketing rule. Why it is important to identify the specific skill sets of firm employees and ensure that they are in sync with the requirements of their position.
Abnormal Returns
NOVEMBER 28, 2023
(rogersplanning.blogspot.com) Companies Amazon ($AMZN) has launched its own AI chatbot. advisorhub.com) Why private banks fight over law firm relationships. calculatedriskblog.com) A measure of new tenant rent are way below the measure of CPI rent. cnbc.com) Twilio ($TWLO) has attracted an activist investor or two.
Nerd's Eye View
MAY 19, 2023
And amid this backdrop, several AdvisorTech tools have added AI capabilities that could further streamline advisory firms’ middle- and back-office tasks and processes. Read More.
Nerd's Eye View
APRIL 16, 2024
Ashley is the Founder of Beyond The Plan, a consulting firm based in Evans, Georgia, that offers a Fractional Financial Behavioral Officer service including consulting and training to advisory firms and even direct meeting support for new or existing clients. My guest on today's podcast is Ashley Quamme.
Nerd's Eye View
FEBRUARY 20, 2024
What's unique about Ben, though, is that he spent 13 years successfully working his way up the career track at a growing advisory firm, starting as an intern and eventually making partner… only to realize within 18 months that it wasn't a good culture fit for him and that he'd need to leave, but then figured out how to take on passive equity (..)
Nerd's Eye View
SEPTEMBER 6, 2022
Andy is the owner of Tenon Financial, a virtual independent RIA that oversees $70 million in assets under management for 43 retired client households.
Abnormal Returns
FEBRUARY 16, 2024
netinterest.co) Van Eck has settled charges that it failed to disclose it was paying Barstool Sports CEO Dave Portnoy to help launch and promote its VanEck Social Sentiment ETF. (fa-mag.com) howardlindzon.com) VC firm Foundry Group is shutting down. frontofficesports.com) Passing to yourself is the hot new move in the NBA.
Nerd's Eye View
AUGUST 9, 2022
Anna is the founder of Dare to Dream Financial Planning, an independent RIA based in New York City that has grown to more than $400,000 of annual revenue in barely 3 years by building a focused base of 32 ongoing clients coupled with more than a dozen project-based planning clients who go through a one-day financial planning intensive.
The Big Picture
JANUARY 2, 2023
Merry Christmas, Happy New Year, and all the rest of the seasonal glad tidings for you and yours in 2023. He had gone from working at a big law firm to a legal publishing house to what was essentially a law-related tech startup. When that firm got bought by Yahoo in the late 1990s, he relocated to Palo Alto.
Abnormal Returns
MAY 22, 2023
citywire.com) Estate planning Can new estate planning platforms put the adviser at the center of the process? wealthmanagement.com) Carson Group and Trust & Will announced a new partnership (thinkadvisor.com) Direct indexing For what clients is direct indexing appropriate? riabiz.com) Why Bain Capital invested in CI Private Wealth.
Nerd's Eye View
AUGUST 22, 2023
In this episode, we talk in-depth about how, in 2001, Cary left her Director of Marketing role at Lord Abbett selling mutual funds and in the face of the tech crash realized that mutual fund companies were so cutting their marketing budgets that she may as well just launch her own advisory practice instead, how after years of growing successfully on (..)
Nerd's Eye View
FEBRUARY 6, 2023
And be certain to read to the end, where we have provided an update to our popular “Financial AdvisorTech Solutions Map” (and also added the changes to our AdvisorTech Directory) as well! And for #AdvisorTech companies who want to submit their tech announcements for consideration in future issues, please submit to TechNews@kitces.com!
Abnormal Returns
JULY 21, 2023
(podcasts.apple.com) Patrick O'Shaughnessy talks with Josh Kushner, founder and managing partner of VC firm Thrive Capital. ritholtz.com) Jeff Malec talks with Jerry Parker about launching an ETF. joincolossus.com) Finance Ted Seides talks with THE Seth Klarman, CEO and Portfolio Manager of The Baupost Group.
Nerd's Eye View
MAY 22, 2023
Traditionally, financial planning internship programs have offered students who are aspiring financial planners a way to prepare for entering the workforce by gaining real-world experience in advisory firm settings (as well as a way to get their foot in the door with prospective employers).
Advisor Perspectives
DECEMBER 13, 2023
To solve this, Practice Intel , a new firm led by Dr. Preston Cherry , Tom Rieman , Larry Shumbres , and Nick Gudz , among others, has launched. Because, despite their best efforts, financial advisors aren’t hitting the core attributes of comprehensive advice.
Nerd's Eye View
MAY 23, 2023
Meg is the Founder and Lead Financial Planner for Flow Financial Planning, a virtual RIA serving mid-career women in tech that oversees almost $60 million in assets under management for 60 client households.
Nerd's Eye View
AUGUST 16, 2022
Neel is the Founder of Shah Total Planning, which itself is a combination of Beacon Wealth Solutions (an independent RIA) and Shah & Associates (a law firm) in Monroe Township, New Jersey, and oversees $57 million in assets under management for 50 client households.
Nerd's Eye View
AUGUST 16, 2022
Neel is the Founder of Shah Total Planning, which itself is a combination of Beacon Wealth Solutions (an independent RIA) and Shah & Associates (a law firm) in Monroe Township, New Jersey, and oversees $57 million in assets under management for 50 client households.
Nerd's Eye View
APRIL 26, 2023
One of the most intimidating aspects of launching a solo advisory firm is the question of how to manage compliance. The 1st category of tasks that advisory firms must handle involves renewing their registration with the applicable state(s) in which they do business each year, which typically involves submitting select documents (e.g.,
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