Growth strategies

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.