Many RIAs fail to pave a path for the next generation of advisors to lead their firms. Fewer than 40% of RIAs have a succession plan in place, Mary Kate Gulick of FiComm Partners said during a panel discussion held this week at the Wealth Management Edge conference. In part, this is because a proper…

Before Cary Carbonaro, senior vice president and director of women and wealth at Advisor Capital Management, answered how she best communicates with clients, she asked if any compliance officers were in the audience. When no hands went up, she said she would meet clients wherever they wanted, whether through direct messages on Instagram, Facebook or…

This episode is fueled by the perspective of inevitability, which provides a unique lens into the growth trajectory of an RIA. Five years ago, Rob Nelson joined us on this series to talk about his business model, which “evolved organically,” as he put it, to serve a high-net-worth athlete client base professionals, entrepreneurs, corporate executives…

Bernie Clark, head of Schwab Advisor Services, will step down from that position on June 28 and move into an advisory role with the company, amid a series of executive moves announced Thursday. He is expected to be replaced by Jon Beatty, currently chief operating officer for Schwab Advisory Services. In addition, Tom Bradley, managing…

Increased volatility in US interest rates is prompting markets to reassess their expectations for a rate cut by the Federal Reserve. In this environment, high-quality mezzanine bonds represent a compelling option for investors' portfolios. These bonds offer attractive yields, favorable valuations and a longer profile, which is especially favorable if the Federal Reserve decides to…

Vib Arya, chief operating officer of Shufro Rose, said at WealthStack, part of Wealth Management EDGE at The Diplomat Beach Resort in Hollywood Beach, Fla., that he centers the 86-year-old company's technology stack around the idea that automation removes friction. “We have multi-generational relationships that are so precious to us,” he said. “We want advisors…

Asset managers have focused too much on providing highly ESG-rated products while ignoring investments that combine socially and environmentally responsible practices with delivering alpha returns, according to speakers Tuesday at Inside ETFs+, part of Wealth Management EDGE at The Diplomat Beach Resort in Hollywood Beach. , Fla. Today, the global impact investing market is valued…

Despite the rush of potential sellers in the RIA M&A space, valuations remain high as private equity firms continue to enter the space. “Private equity has entered the conversation,” according to Jessica Polito, founder of Turkey Hill Management, which provides M&A advice to sell-side wealth management firms. Connected: RIA Edge Live Blog: Sales Growth Polito…

The second full day of Wealth Management EDGE got spicy, with a Hot Ones-inspired conversation between Michael Kitces and Jason Pereira, panels with PE firms and more. Wealth Management EDGE was on fire Wednesday — at least the lips and mouths of Michael Kitce and Jason Pereira — as they collapsed into about two dozen…

Consolidation among the most prominent players in the RIA space is “highly likely,” according to a managing director for private equity firm LightYear Capital. Max Rakhlin said the return on dollars that aggregators spend on finding smaller subsidiaries still makes it an attractive route for the industry's top firms. But these circumstances will not last…