Genstar Capital made news last week as reports surfaced the company is in active talks to secure a majority interest in Advisor Group from Lightyear. As of a late, Genstar has become a major player on the financial services acquisition playing field, only four months ago acquiring Cetera Financial Group for $1.72 billion dollars.
It was a snowy Sunday, January 13th, morning in the Northeast, around 1AM when a LinkedIn post indicated the Schultz team, a Wells Fargo Private Client Group team based in Berwyn PA, was the “first to be ‘permitted’ to transition to the Wells RIA Pilot Program.
Advisors coming off the forgivable loan deal should make it their New Year’s resolution to assess their business practices and confirm that their existing firm is in alignment with their goals and vision.
How will Wells be able to deliver autonomy, independence, and an unsullied brand image to support their new RIA advisors when they have clearly had difficulty achieving that result in all of their other business channels?
Elite Consulting Partners consulted the $850 million Pennsylvania-based Stonebridge team on their move from Wells Fargo FiNET to Triad and was featured recently in trade media articles on the subject.
