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Ken Stern's journey with Lido Advisors began almost a decade ago with a chance meeting at a family office conference. His initial connection with Lido's founders quickly evolved into a shared vision for providing unmatched customer service and scaling a national brand. In some ways, Lido's story is a bit different among RIAs—rather than a firm starting with retail clients and moving upstream to high and ultra-high net worth, Lido started in the space of family office and, under Stern's operational direction, has brought the suite of family office-style services to a broader base of clients and prospects.
In this episode, David Armstrong, managing director of editorial and content strategies for Informa Wealth Management Group, talks with Ken Stern, president of Lido Advisors, to dig into the approaches they've taken to scale, how he thinks about growth as almost a mandate to bring customers a top-notch experience and how they have balanced organic growth and acquisitions.
David and Ken discuss:
- Lido Advisors' impressive growth to over $20 billion in AUM and the strategies behind their rapid expansion.
- Why cracking the code for multi-generational planning has become a key driver in the firm's overall growth strategy.
- Why Lido Advisors chose to bring services like trust management and tax preparation in-house to provide better control and a seamless client experience
- A potential, highly valued area of customer service that remains largely untapped by most RIAs and is on Lido's strategic roadmap.
- Lido's approach to mergers and acquisitions and the role of partnerships with private equity firms such as Charlesbank Capital Partners and Constellation Partners in driving expansion
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About our guest:
Ken Stern is the President of Lido Advisors. Ken is focused on executing Lido's vision of growing Lido Advisors into a nationally recognized leader in advanced wealth management and investment strategy. After working and helping grow various financial institutions, Ken saw the need for a client-centric financial advisory firm focused on comprehensive planning and dynamic investment management. As a result, he founded both Asset Planning Solutions, Inc. and Ken Stern & Associates. Ken is the author of seven personal finance books and has appeared or been quoted on several television and radio shows, including The Today Show, CNBC and CNN.