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Will a Wealth Management SPAC Succeed?

16:48 17 December in In the News by rafferty

December 16, 2020 By Diana Britton, WealthManagement.com While the structure is appealing, RIA sellers often focus more on who the partner is going to be and what they bring to the table in terms of peer groups and resources. With a SPAC, a lot of those are unknown. Last month, Kingswood Acquisition Corp., a special purpose acquisition corporation, or SPAC, sponsored by the owners of British wealth management firm Kingswood Group and a sister company to advisory firm Kingswood U.S., announced that it had raised $115 million in its initial public offering. Kingswood plans to use the proceeds from the public markets to invest in U.S.-based wealth management firms, bringing a new source of capital and a new option to registered investment advisors considering a sale. One of the benefits, observers say, is that a SPAC...

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Why a Silicon Valley Advisor Became an RIA

17:38 25 November in Articles Written by Jon Henschen by rafferty

November 24, 2020 By Jon Henschen, ThinkAdvisor There's a big difference between broker-dealer and RIA expenses, as one advisor with $100 million in assets and UHNW clients discovered. Recently, our firm worked with an advisor whose experience went against many of the narratives that broker-dealers promote. The process was illuminating, and this advisor invited me to share his story. A Silicon valley-based advisor, Palash Islam had a long-standing relationship at a mid-sized BD, which had brought value and relationships he enjoyed. He came to me seeking options when his firm was soon to be merged into a larger one. Early on in our conversation, I was upfront with the suggestion that Palash should establish his own RIA, as he had over $100 million of assets under management and only a small amount of residual trailing...

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Taking the Mystery Out of Going Fee-Only

22:33 18 August in Articles Written by Jon Henschen by rafferty

August 14, 2020 By Jon Henschen, WealthManagement.com   The biggest threat to the independent broker/dealer space is the number of advisors going fee-only. Here are some of the costs and considerations for advisors taking that step. There are two mounting threats to the independent broker/dealer (IBD) channel’s sustainability. The first is the number of advisors retiring, with too few new advisors entering the field to fill those vacancies. The second threat, and even more concerning to the broker/dealers, is the number of advisors choosing to go fee-only. As the SEC’s adoption of RegBI makes doing transactional business increasingly difficult, numerous broker/dealers are positioning themselves more as RIAs and less as broker/dealers. We’ve had an increasing volume of discussions with advisors who are at the crossroads of: “When is it appropriate to get my own RIA?”...