Growth strategies

Despite smaller growth amid the coronavirus last year, FP’s 36th annual survey revealed the significant level of business raked in by 46 wealth managers.

With such a massive number of deals and tens of billions of dollars in assets changing hands, even experts sometimes struggle to keep up.

Kristin Kimmell brings decades of experience and notable success as the replacement to the former head recruiter promoted only last year.

The reorganization includes the addition of five managers to focus on business goals and client engagement.

Banks and other institutions are driving significant recruiting moves while aiming to convince more members and clients to sign up for financial advice.

Strategic buyers and consolidators like Captrust are driving a record pace in overall transactions and those involving sellers with at least $1 billion in AUM.

Michele Dillon, a 30-year veteran of wealth management, started in April

The company received $15 million to build out a platform connecting clients to financial planning, investment management and tax professionals.

The two announcements hours apart came after at least 33 firms with $1 billion or more in client assets changed hands in the first quarter.

The wacky performers can teach us how to grow our businesses, writes Chip Munn.