Added on February 2018 in M&A Issues
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Summary: Formed last summer by John Copeland, Rich Gill and Sean Bresnan, the executive team that ran the highly successful wealth management division of Affiliated Managers Group, Wealth Partners bought minority stakes in three large regional wealth management firms: Torrance, California-based EP Wealth Advisors, MAI Capital Management in Cleveland and Forbes Family Trust in New York.
Added on February 2018 in M&A Issues
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Summary: Marty Bicknell says his interest in technology startups goes back to the beginning of his professional career. But now, as head of Mariner Holdings, with $46 billion in assets, and one of the largest and most innovative RIAs, tech entrepreneurs are all but unavoidable.
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Summary: An advisor I work with calls each of his clients every quarter to check in and find out if they’ve had any major changes to their financial situation. As you can imagine, these calls create quite a burden and greatly reduce the advisor’s work output and the efficiency of his business.
Added on February 2018 in Form an RIA
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Summary: My journey evolved from the excitement of the launch, to the landing of my first client, to the fear of not knowing what my financial planning deliverable was, to coming to the realization at around six months that “this is working” and I won’t go out of business, to increasing my fees (a few times), to losing my first client, and to eventually paying myself my first paycheck.
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Summary: Unhappiness seems particularly prevalent among firms managing between approximately $100 million and $300 million of AUM — a subcategory of firms I call “accidental business owners.” Though these individuals may have built successful and profitable businesses, they might have never imagined having to spend so much time managing.
