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?
Related Moves
Michael Nathanson's new post as Focus CEO could create an 'apparent conflict' with his duties at Colony Group, which is snapping up billions in Focus RIA assets -- but 'partners' now have one of theirs in the power seat
The CEO of Colony, the $22-billion Boston RIA, is buying $10.4-billion GW & Wade from Focus, making him buyer and seller, as he takes the reins as first permanent Focus CEO since Rudy Adolf.
May 1, 2024 at 3:02 AM
Goldman Sachs-Creative Planning deal is bleeding defectors -- 16 more last week, report says -- auguring a 'potential disaster,' analysts warn
Dozens of former 'United Capital' advisors are fleeing at once, but Peter Mallouk is still battling to keep them, and Goldman Sachs may play legal hardball, sources say.
October 4, 2023 at 2:16 AM
Adam Birenbaum's calls 'Colony' deal -- to create $100-billion super-RIA -- a 'mandate,' but it's also likely a 'prelude' to larger strategic objective, M&A expert says
The 46-year-old CEO of Buckingham Wealth's 'long game' approach keeps paying dividends; it comes down to his approach to relationships
May 7, 2024 at 5:04 AM
Tim Oden departed Schwab after 37 years and was flooded with industry offers, but Shirl Penney made one he couldn't refuse -- a seat at the table
The RIA sales wizard joined Dynasty Financial Partners with understanding he would leave sales behind and earn his keep by focusing on strategic ideas.
February 22, 2024 at 2:20 AM
See more related moves
United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran
Dynasty Financial Partners LLC
Specialized Breakaway Service, Mergers and Acquisition Firm, RIA Set-up Firm
Top Executive: Shirl Penney