'Financial architect' joins $1.7B AUM Angeles Wealth

'Financial architect' joins $1.7B AUM Angeles Wealth
Advisor moves to national RIA firm in Santa Monica from LourdMurray.
FEB 07, 2024

National RIA firm Angeles Wealth Management has hired "financial architect" Rick Nott as a managing director in its office in Santa Monica, California.

He joins the $1.7 billion AUM firm following seven years at LourdMurray, where he was senior wealth manager, in a 15-year career which has also included roles at AdvicePeriod, Signature Estate and Investment Advisors, and United Capital Financial Advisors.

“My career began during the global financial crisis, where I learned the value of crafting a financial design that is not only aligned with client goals, but that is structured to encourage a long-term focus on generational wealth creation and preservation,” Nott said. “I’m excited to be joining Angeles Wealth, and its team-oriented approach, that maintains a culture of constant growth, learning and improvement.”

STRONG GROWTH

The past six years have seen strong organic growth for Angeles Wealth, with almost 40% compound annual growth in AUM, and a 40% year-over-year growth in 2023 alone.

The firm’s private wealth team has been an important focus, and Nott will be creating bespoke plans and investment portfolios for ultra-high-net-worth families and individuals, including athletes, business owners and entrepreneurs.

“Just as an architect purposefully designs a house to withstand the elements, Rick applies a similar approach to financial planning for clients. His process seeks to provide stability and a runway for building and protecting multi-generational wealth,” said Jonathan Foster, president and CEO of Angeles Wealth. “The enemy of planning is emotion, and Rick’s focus on the long-term view will help our clients navigate their wealth across generations.”

Latest News

MIT’s Andrew Lo sees AI ready to run your money in five years
MIT’s Andrew Lo sees AI ready to run your money in five years

The finance professor and quant investing veteran believes with the right guardrails, artificial intelligence could be trusted to meet the high bar of fiduciary advice.

Advisor moves: UBS advisors defect to Ameriprise, Merrill Lynch
Advisor moves: UBS advisors defect to Ameriprise, Merrill Lynch

UBS has also regained some ground as it recruited an experienced Merrill advisor in New York.

Former California advisor indicted for alleged $9.5M Ponzi scheme
Former California advisor indicted for alleged $9.5M Ponzi scheme

The ex-Bay Area broker reportedly continued to peddle fake bond investments, promising rates of returns exceeding 20%, even after FINRA suspended his license in 2014.

AI tops compliance concerns for RIAs, survey finds
AI tops compliance concerns for RIAs, survey finds

Predictive analytics, artificial intelligence, and cybersecurity are now high on compliance officers' lists as off-channel communications are relegated down the rankings.

Bluespring acquires $364M Kestra affiliate to combine with two existing firms
Bluespring acquires $364M Kestra affiliate to combine with two existing firms

Latest deal further expands the RIA acquirer’s footprint in Texas.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.