It's been a year of substantial growth in the US wealth space, with advances across stocks, bitcoin, gold, and other asset classes pushing investor portfolios to new highs. At the same time, concerns about market volatility, geopolitical risks, and the prospects of future returns, along with ongoing industry trends, are creating fresh challenges for firms to navigate moving forward.
Against that backdrop, InvestmentNews once again took time to recognize executives, veterans, and top financial professionals who are leading the way forward across the industry.
To build the second annual Hot List of top financial professionals in the US, InvestmentNews invited wealth professionals from around the country to name their most exceptional leaders. From hundreds of nominations, we selected 97 movers and shakers whose contributions have helped shape the wealth industry over the past 12 months.
For some, being a leader was about moving against the current. While many other wealth firms have pursued growth and scale through private equity partnerships, Hot List awardee Craig Gould avoided the beaten path by overseeing his own firm's debut on the Nasdaq earlier this year.
"We had a lot of skeptics asking why we would go public when there’s so much private equity available," said Gould, the CEO at Binah Capital Group, which oversees at least $25 billion of AUM, including some $300 billion of affiliated AUM across more than 550 RIAs. "That’s one of the reasons why we’ve gone public; we were looking to create long-term shareholder value.”
Meanwhile, Thomas Ruggie, founder and CEO of Destiny Wealth Partners, points to his own firm's experience at the leading edge of the years-long shift toward fee-based service models.
“We were very early on the adoption of fee-based advisory practice, because I always felt if you didn’t have commissions driving recommendations, it gave you an unbiased approach," said Ruggie, whose RIA and multifamily office businesses steer a collective $1.2 billion in portfolio assets for an exclusive circle of clients. "Fast forward to today – that led us to the transition to be an RIA, well ahead of the curve.”
For her part, Liz Miller, founder and president of Summit Place Financial Advisors, said a shifting emphasis from investments to more personalized wealth management and planning has enriched her relationships with clients.
“After 15 years in front of a computer as a portfolio investor, I decided I wanted to be working more with individuals and helping people with their planning and taking a more holistic approach to wealth,” said Miller, who will be taking up the mantle as chair of the CFP Board next year.
From the current Hot List 2024, InvestmentNews is casting the spotlight on several game-changing professionals, voices, and visionary leaders:
To view the full list of winners and more insights from the report, click here.
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