Farther exhales then reveals that it has poached 10 advisors from Goldman Sachs since September, not without trepidation about poking the squid

The VC-backed RIA stared down legal perils to grab United Capital defectors but is now in 'good shape,' its CEO says, revealing that it grabbed 32 advisors in the past three quarters bringing it to $3 billion AUM

Author Lisa Shidler July 12, 2024 at 10:22 PM

2 Comments

Taylor Matthews: We just wanted to make sure we worked out the kinks

Brooke Southall and Keith Girard contributed to the editing of this article.

People Moves

Goldman Sachs

Farther

Brian Murphy

July 14, 2024 — 1:51 AM

So Farther is going to build their business on poaching advisors and paying them more than competitors? How is this a defensible business? Of course they'll throw some "technology forward" mumbo jumbo into the mix, but at the end of the day this isn't innovation or technology forward at all, it's just buying assets...and an arbitrage between public market values for advisor assets, and venture capital market value for the same assets. Farther is a private equity company doing a rollup, and masquerading as an innovative startup. Laughable, really.

Mrian Burphy

July 15, 2024 — 6:01 PM

Farther isn't buying assets -- as the article says, advisors own their equity. Farther is offering a platform and a home for advisors and RIA firms to operate from, instead of either running an RIA themselves or selling their equity to a rollup. Advisors pay Farther for their services and can leave at any time. Farther needs to provide value for advisors to stay. I'd say it sounds like a refreshing alignment of incentives!

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