Verdence Capital Advisors, a Maryland-based registered investment advisory firm serving business owners, sports and entertainment professionals, high net worth and multigenerational families with approximately $3.3 billion under management, this week unveiled its updated turnkey service for other RIAs.
Before Verdence/OCIOthe new name, look and website highlight an expansion of services designed to support growth and continuity for solo practices and small and mid-sized firms.
Verdence/RIA+ will continue to offer investment management—including access to private markets, research, educational content and due diligence—along with a slate of new services, including succession and succession planning, financial planning resources, compliance support and a support office.
“The transformation from Verdence/OCIO to Verdence/RIA+ is much more than a name change,” Verdence CEO Leo Kelly said in a statement. “It embodies our commitment to evolve alongside our clients and the transition of this part of our business from an OCIO solution provider to a full-service RIA extension.”
“Among the important additions to the program are continuity and succession planning,” said Peter McGratty, who joined Verdence in November to oversee the development and expansion of the platform. He was appointed director of Verdence/RIA+ in February.
“Advisors do such a good job helping clients plan for the unexpected and for their retirement, but they often don't spend the time planning for their own circumstances,” he said. “This is becoming extremely important as advisers look to retire. … If the question of what comes next is open, that is a challenge we are uniquely equipped to meet.”
Prior to Verdence, McGratty was a managing partner at Precursor Asset Management, after more than 12 years as vice president of strategic partnerships for Pinnacle Advisor Solutions, a firm he helped found in 2009, which was sold to Congress Wealth Advisor Solutions in early 2021 .
“We engaged Peter in mid-2023 and were impressed by his experience, passion and creative vision on our existing OCIO platform,” said Kelly. “Peter joined our team and we immediately began detailing and building the expanded offering.”
Backed by Emigrant Partners and majority owned by Kelly, who founded the firm in 2017, Verdence Capital Advisors manages more than 6,000 client accounts for almost 1,500 families, more than a dozen charities and retirement plans, and 46 other companies that make up just over 5% of total assets under management, according to its most recent ADV filing.