A group of RIAs has teamed up to form an industry council, with a plan to meet regularly and produce thought leadership on business growth strategies for independent advisors.
The members of the new “aRIA” group include: Brent Brodeski, chief executive of Savant Capital; John Burns, principal at Exencial; Ron Carson, CEO of Carson Wealth Management Group; Jeff Concepcion, CEO of Stratos Wealth Planning; Matt Cooper, president of Beacon Pointe Wealth Advisors; and Neal Simon, CEO of Highline Wealth Management. The associated firms collectively advise on $18 billion of client assets.
As part of the group’s work, it will release white papers on long-term growth strategies for both independent and wire-house advisors, beginning with a paper due for release in the third quarter of this year.
“The group aims to make clear that advisors have many alternatives to growth versus going it alone, joining a roll-up/consolidator operation, or attempting to execute on recruiting or acquisition strategies themselves. Each participant in the study group is fully independent of private equity or venture capital and therefore free to operate under a purely synergistic framework, rather than simply looking for a good financial ‘deal’,” the firms said in a joint statement.