Advizent will close its doors after a final flurry of negotiations
Charles Goldman and Steve Lockshin had a moment of truth after receiving offers for funding
I think the industry should thank Charles, Steve and their team for taking on a critical topic but also a daunting challenge. The RIA industry has grown significantly, yet advisors continue to cite marketing and growth as their biggest challenges. Combine that with investors who are at best confused about the differences between advisors and at worst still massively distrustful and skeptical, and this was a great idea and still something the industry needs to grapple with. This leaves the education and category development in the hands of custodians and associations. Hopefully they will continue to advance their education efforts or (in time) change their stance on supporting an effort like this that would have benefited all.
Best of luck to Charles, Steve and the team… hopefully you will find other ways to help this great industry.
Orion rescinds RTO order after its staff rebels by hijacking company email list, distributing petition and tipping off RIA media
CEO Natalie Wolfsen suffers first setback and rescinds a return-to-office (RTO) policy after week of protest to work on a more collaborative agreement on a post-COVID new normal
November 23, 2023 at 12:20 AM
Orion Advisor Solutions calls 6% staff reduction a 'final action,' after ballooning headcount 40-plus percent since 2020 by gorging on Brinker, Redtail and five other companies
The Omaha, Neb., administrator of $3.6 trillion will cut 'duplicative' back office jobs to reduce staff to 1,320 from about 1,400.
September 30, 2023 at 2:31 AM
Orion names 'left-brained' Natalie Wolfsen as CEO to replace Eric Clarke, and AssetMark, which synchronized its announcement, hires Michael Kim as her replacement
Orion Chairman Charles Goldman again lures his protege to self-replace, while Michael Kim was 'integral to AssetMark’s record financial performance over the past several years'
September 8, 2023 at 11:58 PM
Cetera hiring Mike Durbin as CEO -- overseeing its existing 'CEO' -- completes Genstar's stellar HR week after it put Charles Goldman atop Orion's board -- with 'exponential' growth in mind for the 'middle market' companies
The Los Angeles broker-dealer nabbed the Fidelity legend to take its $118-billion AUM and 8,000 advisors higher, just as Orion -- also majority owned by Genstar -- makes a similar move.
May 18, 2023 at 1:46 AM
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