What bet Rudy Adolf is making on RIAs by pre-borrowing $550 million from Bank of America and a wider syndicate
The Focus Financial CEO sees lending rate at rock bottom and ROI on RIA investing with room to rock
Interesting timing… it seems as though the bet is on the margins… can they recruit with reduced forgivable payouts? Can they create a culture that advisors will flock to? Can they get the wirehouse advisor to shun the ninety day sales cycle to jump to the culture that has a five year plan? Can they increase the margins with sticky client AUM? There are so many variables to take into account that can make this bet either work or flop…One thing is for sure, organic growth is the lifeblood that supports M&A… without organic growth, the arbitrage is much more of a gamble… The culture of the Roll-up RIA must be one that is conducive to the organic growth of the independent advisor for ultimate success of all parties… which includes the clients.
Good questions, Grant. I am glad that Focus keeps barreling ahead with some on-the-job clinical trials. Somebody has to be shaking things up with de minimus analysis paralysis and this fits.
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With RIA valuations ticking down and successions ticking up, Focus Financial deep sixes 'drunken sailor' pause, forgoes buyback plan and adds a CEO
CEO Rudy Adolf sees a 'softening' in multiples after a couple of frothy years when CI Financial dominated headlines and big RIA deals
August 13, 2022 at 12:39 AM
Focus Financial makes 'abrupt' CEO call, lets Rudy Adolf go into 'retirement,' with 'no solution in place;' the eighth RIA chief executive unseated since June as VCs move in -- where is the EBITDA?
Clayton, Dubilier & Rice closed on its $7-billion purchase of the roll-up on Aug. 31 -- with no hint that its parting of the ways with legendary 60-year-old founder was in the offing.
October 24, 2023 at 1:19 AM
UBS bets its 'wealth' future on ex-Schwabbie Naureen Hassan, a corporate digital A-lister, who analysts give a fighting chance to transcend PaineWebber's ossified culture
Still a $2-billion cash-flow cow, the Swiss bank's 6,000-broker, US-based wirehouse is milking aging broker relationships with aging investors but needs a new kind of human presence, empathy, mindset and smarts to draw in Gen Z.
July 16, 2022 at 1:35 AM
Looking past Covid-19 pandemic, Louisiana RIA buys $1-million building after hitting $1 billion in AUM and hiring the town's mayor
Summit Financial Wealth Advisors was sold to Focus Financial in 2014, growing its assets by $400 million since then but keeping staffing about the same
December 17, 2020 at 3:02 AM
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