Growth strategies

The California company, which focuses on technology companies and entrepreneurs, will make a big push into wealth management as part of the proposed acquisition.

The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.

The private equity-backed firm’s bottom line has been less affected by coronavirus-related low interest rates than its rivals, Moody’s says.

Even with those challenges, rep productivity and client cash balances expanded in the third quarter.

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If approved for an IPO, the blank check company will face stiff competition among the growing ranks of RIA acquirers.

Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.

The group of fee-only practices and networks have 1,187 IARs who manage a combined $95.7 billion.

These firms oversee more than $185 billion in combined assets.

The firm is maintaining control but dropping its FINRA registration as the sector’s rising expenses and lower margins fuel consolidation.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

Funds focused on the sector lost more than $2.4 billion in August, the most since 2016.

Focusing on “investment in leadership and access to markets,” the IBD aims to support reps and clients of diverse backgrounds, its head recruiter says.

The father-son practice with two other advisors switched their affiliations after its founder had spent 18 years with New York Life.

During Andy Kalbaugh’s tenure with the No. 1 IBD, its headcount grew by more than 50% to nearly 17,000 reps.

With higher compensation offers and a track record of independence, the No. 1 IBD is “challenging the status quo,” its head recruiter says.

The No. 1 IBD revealed new details of its W-2 affiliation after it followed rivals into the employee channel with an acquisition it made last year.

The independent broker-dealers big enough to serve the most financial advisors enjoy advantages but face distinct challenges.

Wealth management firms should define success by how well their operations perform under pressure, Kestra Financial COO Kris Chester says in an episode of Financial Planning’s podcast.

For the first time, the ranks of the top 25 firms according to their annual business include single entries for IBD networks.