News, Vision & Voice for the Advisory Community


Greg Friedman pockets maybe $20 million, subtracts one full-time CEO job and goes all in on Private Ocean

WisdomTree pledges $30 million of cash and 56 year-old seller will pour his energies into building $1.2-billion RIA with new roll-up strategy

Author Brooke Southall
January 2, 2018 at 10:28 PM
no description available
Greg Friedman: Either one is more than a full-time job.

Related Moves

Alan Moore is the No. 2 busiest man in the RIA business and he just convinced the No. 1 busiest man to budget $200,000 to hire a 'rockstar' to replace him

Alan Moore is CEO of both XY Planning Network and AdvicePay -- and he has three young kids; Michael Kitces agreed to let him hire a full-time replacement CEO for AdvicePay -- with some giant reqirements for the new exec.

February 14, 2023 at 3:15 AM

Five RIA Doubletakes: An RIA-only law firm breaks away • Kitces launches picker of 'best of breed' RIA software bundles • Vanguard targets 2070 just as media targets TDFs • SEC fishing for RegBI Scofflaws, including RIAs • CFP appoints first African-American chair

RIA Lawyers will reject RIA custodians• Kitces Nascar montage is now interactive and helpful • Vanguard's super long TDF draws critics• SEC supply lines are stretched with new battle front • Kamila Elliot is ex-DFA, diverse and calling CFP shots

January 12, 2022 at 3:13 AM

March 12, 2020 at 1:45 PM

How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again

The fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand

November 20, 2019 at 10:19 PM

See more related moves

Mentioned in this article:

CRM Software
Top Executive: Greg Friedman

AppCrown, LLC
Outsourcer, CRM Software, Tech: Other
Top Executive: Ted Tsung

Technology Tools for Today
Consulting Firm
Top Executive: Joel Bruckenstein

Consulting Firm
Top Executive: Michael Kitces

Financial Planning Software
Top Executive: Rich Cancro

Ken Golding

Ken Golding

January 5, 2018 — 3:12 PM
WTF, do you not even verify what you write? THE GOLDING HACK?, written with Excel WORD and OUTLOOK. Do you not even verify your articles before you publish. For your information Junxure was originally written in MS Access and NEVER was written in Excel, word or Outlook. The evolution took it to a SQL Database and on to DOT NET. Once it was completed it integrated with Excel, word and Outlook, but I would in no way classify a product that served over a thousand offices for many many years a HACK. Very disrespectful. I don't know why you felt you needed to take a shot here, but that is way out of line if you ask me.
Mark Wickersham

Mark Wickersham

January 10, 2018 — 1:34 PM
Junxure was always a bit of a unicorn in that it was a homegrown application that was commercialized. Those days are over and I think this spin out attest to the fact that technology is moving too fast for this approach to success anymore.
Cole Steel

Cole Steel

July 26, 2018 — 7:56 PM
I worked for Junxure a few years back. Junxure had a money, or, "log jam" problem where they could not afford enough fast working, talented SQL employees to do the intricate work needed to migrate enough new customer databases from whatever Product they were coming from, into Junxure. I knew after only a couple of weeks at Junxure, that Friedman would eventually have to sell. I could smell it. I saw no other choices. Friedman was stuck between a rock and a hard place if he wanted to move forward. Surging forward was not going to happen without an infusion of money, or flat out selling Junxure to another company that could fix the log jam occurring at the Migration side of things. Junxure could only grow if it had a "free flow" of new customers migrated into the Junxure tool, without any lengthy hold ups. And there were numerous migratory hold ups in the new Junxure customer pipeline and not enough programmers to get them migrated in quickly. Also, the word was at the time, Friedman wasn't even using his own Junxure tool at Private Ocean. In any case, selling and pocketing a cool $20 million and focusing on his first baby, PO, was a no brainer. My humble opinion.

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo