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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

Author Lisa Shidler March 21, 2012 at 5:42 AM
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John Copeland: We've been having a number of terrific conversations articulating our growth proposition to independent advisory firms.

Dan Inveen


Shirl Penney


John Straus


Daniel Seivert


Peter E. Ruhlin

Jeff Spears

Jeff Spears

March 21, 2012 — 5:04 PM

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

Elmer Rich III

March 21, 2012 — 8:46 PM

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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Mentioned in this article:

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

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