MarketCounsel, the business and regulatory compliance consultancy for independent advisors, has hired Anthony Stich, former chief revenue officer at digital guardian Entrustody, as executive director. Stich confirmed the move, which will take effect May 16, at the Wealth Management EDGE conference at The Diplomat Beach Resort in Hollywood Beach, Fla. this week.
Brian Hamburger, president and CEO of MarketCounsel, said Stich's role was created due to the growing complexity of the firm's business, placing constraints on their resources and staff. Stich will handle much of the firm's operations, business development, relationship management and events, so Hamburger can spend more time working with RIA clients and on the firm's programs.
“My role has been to make sure our team is on track, going in the same direction and at the same speed,” Hamburger said in an interview with. WealthManagement.com. “And it's getting more and more challenging. We would be doing ourselves a disservice not to duplicate the quality of that work.”
“Each of our practice groups is pulling Brian for his opinion, his thoughts, what the firm needs,” said Ryan Marcus, who was recently promoted to director of engagement at MarketCounsel. “By taking it out of the operational aspect of it, he can then focus on what the business really needs and allow Tony to come in and provide that support and make sure all these practice groups are working the way they're supposed to.” needed.”
WealthManagement.com was the first to report Stich's departure from Entrustodyself-described “digital and technology-first healthcare company,” in January. Prior to that, he was COO at NaviPlan from Advicent, where he focused on sales, marketing and customer experiences across North America.
Stich said he received many calls after leaving Entrustody about potential opportunities — some on the technology side, others on the RIA side.
“After getting these calls, I felt like I could be a better citizen for the industry somewhere in the middle, not just on the tech side or the RIA side,” he said. “It became very clear that what I'm passionate about – moving the industry forward and improving the firms we interact with – MarketCounsel was the perfect home for that.”
Indeed, he will bring his sales and marketing expertise; but will also focus attention on the success and satisfaction of the firm's clients and how they can provide more service.
“RIAs are coming to us with more complex requirements, and in some cases, they're looking for our advice on where to find the solution for that,” he said. “Perhaps this solution is within the MarketCounsel umbrella.”
Stich will also work to improve the annual Market Council Summit, now in its 16th year.
In addition to Stich, MarketCounsel has also brought on two new senior executives, including Scott Coleman, a 20-year veteran at Schwab, as director of business development for MarketCounsel and The Hamburger Law Firm. Coleman, who previously led a team of business development officers at Schwab's RIA custodian, will be responsible for day-to-day business development, a task that previously fell under Marcus' purview. This allows Marcus to focus on MarketCounsel's strategic vision, customer experience and engagement with the sales and services side of the business.
Nitesh Verma has also joined the firm as director of partnerships. Verma was most recently the head of enterprises and partnerships at Snappy Kraken and he will be particularly focused on growing the number of partners.