Three telling conversations about where the RIA business is headed
In which RIABiz editor Brooke Southall talks with a recent widow in search of an advisor, the recruiting director of HighTower and the CEO of Focus Financial and gains a snapshot of the RIA arena, circa summer 2011
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With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
December 17, 2020 at 3:02 AM
A 20-year Merrill Lynch veteran got Sanctuary Wealth to $10 billion in AUA in 15 months with no outside capital and no time in bed: 'Nobody's slept since April'
Jim Dickson also recruited HighTower talent, Amit Dogra, to bring the old HighTower brokerage model and execute it as HighTower veers toward buying RIAs
August 15, 2019 at 7:58 PM
New-look Hightower hires Abby Salameh and takes a 'Hurley-style' stake in a $4.8 billion DFA RIA
The Chicago roll-up gets a chief marketing officer who gets RIAs as it becomes part-Dynasty, part- Fiduciary Network in adopting a very 2019 deal structure for LourdMurray
May 3, 2019 at 7:11 PM
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Penny Mandell
Your comments about the recently widowed Jane really resonated with me. I have recently developed a series of educational workshops for women so that they can improve their financial literacy in a no-pressure setting. My group is Financially Fluent Females (f3) . Through divorce or death many women will face sole responsibility for managing their money and many are simply unprepared and overwhelmed because it was always “handled” for them. The market meltdown has forced many to pay more attention,but ideally they should not be forced to react to crises and should be more proactive in their approach. This can be difficult since many advisors talk over their heads rather than trying to foster understanding. Additionally ,especially with widows the advisor usually had a relationship with the husband and never cultivated one with the spouse. The workshops have been gaining in popularity which has actually lead to accounts, but I also work with women on how to have more productive relationships with their current advisors. I host regular meetings locally in Sun Valley and also Portland and Seattle . Women over 50 represent a powerful demographic so advisors may want to rethink how they deal with women.
Brooke Southall
“Ed”,
I deleted your comment because when I emailed the address you left, you didn’t seem to exist. You’re welcome to post again but don’t leave a fake email. We need to have some sense that you stand behind what you write.
Brooke
