AMG makes a dramatic entry into wealth management arena, buying majority stake in $10B Veritable
Veritable LP is the first in a series of very big RIAs the giant asset management firm has its eye on
Jeff Spears
John understands the wealth management business. His track record of success on Wall Street will be a huge asset to AMG and the firms they invest in. John apprciates that the client advisor is the brand.
Elmer Rich III
This is a hyper competitive market with entrenched and very well funded participants. A
“Build/buy it and they will come.” business model is relying on hope. “Hope is not a strategy.”
It is very hard (impossible?) to get a true differentiation strategy: #1 — and then successfully execute: #2, for the long term: #3.
The question to ask in M&A work ( and we do quite a bit) is always — who is the “smart money” — buyer or seller?
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