News, Vision & Voice for the Advisory Community


How the Facebook IPO is creating the mother of all RIAs, Iconiq, and what an in-your-face it is for Wall Street

Breakaway out of Morgan Stanley, Divesh Makan, attracts the Mark Zuckerbergs and Sheryl Sandbergs of the world with his pedigree and presence

Author Kelly O'Mara May 18, 2012 at 4:08 AM
no description available
Iconiq's San Francisco offices are little more than a receptionist's desk and a row of trading screens -- but it's more than enough to manage the assets of Facebook's billionaires.

Breakaway Stories

Bill Winterberg

Bill Winterberg

May 18, 2012 — 12:21 PM

I’m not surprised you made little progress with Addepar. They, too, have declined my requests for interviews.

Addepar’s current sweet spot are the ultra-HNW and family offices like Iconiq, not the traditional RIA market.

Jeff Spears

Jeff Spears

May 18, 2012 — 4:39 PM

Iconiq joins the ranks of LARGE Independent firms founded by ex-Wall Street brokers – Lumious, Constellation, Three Bridge, Seven Post, Argos, BBR and The Presidio Group.

These successful moves have definitely made the remaining corner office teams on Wall Street take notice.

If Facebook shareholders follow the same path that Google shareholders did they will start with the brand names and move to independents RIAs once they are more knowledgable and liquid.

Greg Brown

Greg Brown

May 18, 2012 — 5:21 PM

What a success story. A lot of us were wondering where all that wealth would end up.

Considering what little access you were given its great work and an interesting story by both of you!

Congrats Kelly and Brooke.

Related Moves

July 16, 2022 at 1:35 AM

With Justin Wisz gone, Vestorly's new CEO jibes to algorithm licensing tack, wins Hootsuite and knocks old model, saying market is saturated by competitors

Ralph Pahlmeyer will play to his firm's sifting strengths, seek enterprise deals and think more like a software executive

November 21, 2018 at 7:09 AM

Walt Bettinger discloses expiration of unknown 'pact' to explain to Schwab investors why Bernie Clark, Peter Crawford and Joe Martinetto all chose to exit at once

The 'sort of informal' deal was struck in 2019, but never revealed to shareholders during the merger transition, until the departures were announced -- in one press release -- this month.

May 25, 2024 at 2:45 AM

Christa Carone, an ex-Fidelity and Xerox marketing whiz, steps onto a slippery slope at LPL with a daunting task -- to consolidate a NASCAR size brand portfolio... or not?

With no CMO since August, the chief marketing officer will play catch up for a company still hungry to buy more branded B2B and B2C players.

April 2, 2024 at 1:28 AM

See more related moves

Mentioned in this article:

Advisor Growth Strategies, LLC
Consulting Firm
Top Executive: John Furey

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.