Less than three months after it launched its RIA platform with 10 advisor practices managing a combined $5.3 billion in client assets, VestGen Wealth Partners is preparing for growth with a heavyweight team of industry executives.
Founded by Josh Gerry who was most recently at LPL and with three decades of wealth industry experience, Chicago-based VestGen is focused on addressing one of the key issues facing the advisory world – the succession challenges of the large number of retiring advisors - but also helping advisors at earlier stages of the business to grow.
“VestGen is not just another wealth management integrator, it's a carefully crafted ecosystem designed to leverage personalized client service, technology, operational excellence and strategic acquisitions to create a next-generation industry leader,” said Gerry.
And Gerry has hired an enviable team of industry executives to help him on the road to success.
Jason Hanavan, as president and CFO, will lead the commercial side of the operation, leveraging his 20 years of financial and operational senior leadership experience at portfolio holdings of Blackstone and Elliot Management.
Ferian Nickelson is the firm’s chief operating officer. She also has two decades of industry experience including roles at Morgan Stanley, Hightower Advisors and BNY Pershing.
Following Gerry from LPL Financial is Greg Gessert, who’s role as chief growth officer will draw on his institutional M&A experience to deliver VestGen’s “aggressive yet strategic acquisition plan.”
Timothy Woods is chief legal & compliance officer and has extensive experience in the financial services industry with firms including SYSTM Wealth Solutions, William Blair, Wentworth Management Services, and Hightower.
Sarah Musante as chief HR officer and Leann Stevens as chief marketing officer, complete the seasoned c-suite.
“To achieve our growth ambitions, we’ve assembled a team of veterans who have consistently demonstrated their ability to innovate, scale and deliver results in wealth management,” added Gerry. “Their collective experience spans the entire spectrum of our industry – from founding and growing RIAs to leading operations at some of the largest financial institutions.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
