The evolving story of a $5.3 billion AUM firm that was founded nine years ago by a breakaway team from Morgan Stanley is starting its next phase under a new leader.
OneSeven was founded in 2016 by Michael Mawby, Stuart Gertman, Bruce Greenwald, and Todd Resnick, who wanted to help other advisors to launch and grow their own business. The breakaways teamed up with Ron Gross who became CEO and was also president and CEO of MGO Investment Advisors. The two firms merged in 2022 with Gross remaining as CEO of the combined entity.
But now, Gross is stepping down as chief executive to become chairman with one of the original founders, president Todd Resnick, taking the CEO role.
The change comes as OneSeven celebrates a strong period of growth, expanding its advisor base by 45% and its assets under management by 37% over the past two years and named an InvestmentNews Best In Wealth Fastest Growing in America in 2024.
"Leading this company has been the privilege of a lifetime," said Gross. "Together, we've built something remarkable - an organization driven by ambition and shared purpose. As I move into my new role, I look forward to continuing to serve OneSeven by meeting with our advisors, strengthening partnerships, and leading OSV-OneSeven Venture. The road ahead is full of promise."
Resnick has played a key role in the firm’s growth and is looking forward to leading the next phase in its journey.
"I'm honored and energized to step into the role of CEO," he said. "OneSeven's success is built on a foundation of innovation and collaboration. I am committed to building on that foundation and accelerating our growth while staying true to our core values."
The inception of OneSeven was explained by Resnick in an interview with CanvasRebel.com where he recounted the story of how he happened to sit next to a guy who didn’t know well but was working for his uncle’s RIA. He asked Resnick how things were going at Morgan Stanley.
That conversation led to Rick introducing Resnick to his uncle, Ron Gross.
“I explained my vision to him of the firm I wanted to build. He was quickly excited by my ideas and had a similar desire to build something,” Resnick recalled.
Also, SEI names LPL’s Kristie Edling-Day as CIO, TD Bank U.S. taps Hardeep Walia to lead wealth, and BMO adds an Illinois regional president
FINTRX data shows 342 company transactions in the quarter, with wealth management consolidation driving nearly one in seven deals.
State regulators secure $4.4 million from two broker-dealers over unreasonable charges on small-dollar retail equity trades.
New F&G survey finds most pre-retirees are delaying or redesigning retirement, creating fresh planning opportunities for financial advisors.
Focus Partners Wealth’s Jeffrey Levine says a Democratic House or Senate would make new legislation on Trump Accounts much harder to pass
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
