Broker/dealer Osaic gets a win from the RIA world with the acquisition of $13.5 billion fee-only CW Advisors from private equity firm Audax Private Equity.
Ride Wealth Partners, a Golden, Colo.-based team led by Kevin McCulley, is the latest to join the RIA launched by former Merrill wealth head John Thiel earlier this year.
Michael Nathanson, who helped pioneer the mega-RIA, said the industry has moved beyond aggregation to interconnected firms that can meet advisor and client needs in areas including technology and broader services.
Private market investment providers believe the potential is great, but RIAs are still sorting through how to offer the alternative investments, according to a panel at Wealth Management EDGE.
RIA acquirers and M&A consultants speaking at Wealth Management EDGE said firms with G2 leaders, including equity stakeholders, are often more desirable targets and will fetch a higher value.
Rise Growth’s Joe Duran and Kitces.com’s Michael Kitces debate some of the most pressing issues in wealth management, including the need to have a brand, the value of private equity and whether culture matters.
TradePMR and Robinhood executives speaking at Wealth Management EDGE said they are working toward connecting advisors to the 26 million self-directed Robinhood users, who are now an average age of 35.
RIA and investment leaders at Wealth Management EDGE said future-ready firms will expand revenue via adjacent services and cultivate second-generation advisors through tactics including equity stakes.
For the RIA industry to shed the “eat what you kill” label by the next generation, they must “break resistance” to passing on clients, according to panelists speaking at Wealth Management EDGE.
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