Convergent Wealth Advisors, with over $10 billion in assets under management, has announced John Mastal as managing director of advisor recruiting.
His hiring marks fresh leadership for the firm's newly created Catapult by Convergent initiative--a program that seeks advisors with specialized skill sets and a desire to work with ultra-high net worth clients. The program targets registered investment advisors (RIAs) who want to avoid marketing, research, technology, reporting, compliance, and unsupported client service.
Mastal's new role entails finding, qualifying, and mentoring a select number of advisors.
John knows the industry and its top advisorsand understands why our offering can be attractive to them," said Douglas Wolford, Convergents president and COO. Commenting on the future of the Catapult initiative, Wolford remarked in a statement: Advisors who want to take their careers to the next level...will find our platform and offering compelling.
Running a small advisor shop can be fulfilling but also quite limiting. At some point, the time spent on administration becomes so great that advisors can no longer do what they love to do, Wolford has said on the program. We plan to let them offload those responsibilities to get back to what got them into this business in the first place.
Mastal comes to Convergent from Fortigent, a provider of asset allocation modeling, portfolio construction, manager due diligence, and consolidated reporting.