A new RIA platform has made its debut to help address one of the most pressing challenges for small independent advisors.
VestGen Wealth Partners, led by three-decade industry veteran Josh Gerry, announced its launch on Tuesday.
With an initial 10 partner advisory practices managing a combined $5.3 billion in assets under management, the Chicago-based firm aims to address succession planning challenges in the wealth management sector while nurturing the next generation of financial advisors.
"We're addressing one of the wealth management industry's most pressing challenges: the succession crisis," Gerry, who serves as VestGen’s inaugural CEO, said on Tuesday. "Every advisor nearing retirement asks, 'Who will take care of my clients?' VestGen provides a clear answer – by pairing these practices with talented Gen2 advisors who are ready to build on their legacy."
According to his BrokerCheck profile, Gerry was a registered broker in the industry for 27 years, having most recently affiliated with LPL.
VestGen's strategy is focused on practices managing between $100 million and $500 million in assets. In contrast to other RIA acquirers that have emphasized opportunities for organic and inorganic growth in their strategies, the firm’s approach focuses on providing guidance, resources, and technological support to both retiring advisors and their successors.
The firm’s launch comes at a pivotal time for the industry, as research from Cerulli Associates suggests that 37 percent of financial advisors are expected to retire within the next decade. This transition could place trillions of dollars in client assets at risk of mismanagement if effective succession strategies are not implemented.
VestGen aims to address these concerns through its structured acquisition model. This includes mentorship opportunities for younger advisors, integrated technology, and a family office model offering a range of services, including tax, insurance, and legal support.
"VestGen’s goal is to create a seamless transition process for retiring advisors while giving the next generation the tools they need to succeed," Gerry said.
Tandems and Zeplyn roll out new AI agents and assistants as wealthtech firms compete to run more of advisors’ back-office work
Regardless, major industry players are introducing retention bonuses as a way to keep advisors in their seats.
Allspring’s active strategies join Vestmark’s tax-aware UMA platform as RIA adoption gains traction for custom portfolios
“A better tool does not on its own make a better outcome,” said Humanity Labs CEO Andrei Pop.
“[Vestmark] bring to us the very scaled sponsor trading,” said Envestnet’s Sue Burton.
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
