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The 10 most influential figures in the RIA business going into 2012, Part 2

These advisors and executives made dramatic moves that advanced the business of registered investment advisors

Author Dina Hampton and Brooke Southall January 4, 2012 at 5:46 AM
Admin:
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Peter Hess drove the Advent-Black Diamond merger and may have created an RIA-friendly monster.

Related Moves

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

Joe Duran will co-develop Goldman Sachs unit aimed at outsourcing to non-Goldman RIAs after 'magic' never materialized for direct-to-consumer RIA

The Newport Beach, Calif. RIA legend plans to shift from B2C to B2B to fix Goldman's disconnect with RIAs and play to the strengths for him and the bank

February 8, 2023 at 3:03 AM

Elliot S. Weissbluth, Hightower Advisors mastermind, cashes out and vacates chairman role as Pershing's ex-CEO Lisa Dolly takes a board seat

The Chicago rollup's founder got paid better by doing the second-stage exit and the new cast on the Board also includes Bob Oros ascending to chair and Darrell Horn of Green Square Wealth Management joining

February 19, 2021 at 8:58 PM

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

See more related moves

Mentioned in this article:

MarketCounsel | Hamburger Law Firm
Consulting Firm, Compliance Expert, Legal Services for RIAs
Top Executive: Brian Hamburger

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Focus Financial Partners, LLC
Consolidator/Roll-up Firm
Top Executive: Rudy Adolf




Jeff Spears

Jeff Spears

January 4, 2012 — 7:55 PM

Impressive list, all chasing the same dream – create a national/scalable brand. Isn’t this the business model that caused professionals to break away from large firms?

Mike Wilson

Mike Wilson

January 5, 2012 — 2:55 AM

Would like to know the answer to Jeff’s question as well.

Brooke Southall

Brooke Southall

January 5, 2012 — 3:44 AM

Yes, that’s a big question. For my thoughts on that, look here: http://www.riabiz.com/a/9228337

I have my eyes peeled for a secondary breakaway movement from these firms. That may be an acid test.

Bill Winterberg

Bill Winterberg

January 6, 2012 — 1:53 AM

And just like that, roughly 24 hours from posting Advent’s Hess as RIABiz’s #1 influential figure for 2012, he gets selected to succeed current CEO Stephanie DiMarco on July 1. How about that?!?

<a href="http://blogs.advent.com/executive-view/2012/01/05/2012-opportunities-in-change/" rel="nofollow">http://blogs.advent.com/executive-view/2012/01/05/2012-opportunities-in-change/</a>

Brooke Southall

Brooke Southall

January 6, 2012 — 5:01 AM

Thanks for noticing, Bill. We strive to wag dogs. And we’re about to publish an article about the succession.

Brooke

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