Opal Wealth Advisors, an independent RIA based in New York, is looking to supercharge its growth strategy with a veteran hire to its C-suite.
On Tuesday, the firm announced Kayla Kennelly, a former vice president at Goldman Sachs, as its new chief growth officer, a move the firm says will help shape its long-term strategy and deepen its client base.
With more than 14 years of experience in institutional and independent RIA settings, Kennelly is expected to take on responsibilities spanning strategic growth, client development and talent recruitment at the firm. Her addition reflects Opal’s continued emphasis on expansion, talent development, and recruitment.
“Her strategic vision, execution expertise, and strong background in business development within entrepreneurial environments make her the ideal leader to help us accelerate our growth trajectory,” Lee Korn, founding partner at Opal Wealth Advisors, said in a statement. “We’re thrilled to welcome Kayla to the team.”
Based in the New York metro area, Opal Wealth Advisors offers investment and wealth management services to individuals, families and businesses. The firm was co-founded by Korn, Jesse Giordano and Joseph Filosa, and emphasizes integrated planning, technology and independent financial advice.
Before joining Opal, Kennelly had brief but significant tenures at several major players in the wealth management space.
At Goldman Sachs, she was part of the team that helped develop and scale its RIA custody business. She previously held senior roles at Facet Wealth, where she launched a client acquisition channel and worked on employee financial wellness initiatives. Earlier in her career, she spent eight years at Pershing in business development and prime services.
The seeds of Goldman's RIA custody business were planted in 2020 when it announced its acquisition of custody and clearing firm Folio Financial. Since then, that venture has gained traction as the firm welcomed key partners including Steward Partners in 2021; Prime Capital Investment Advisors and Creative Planning in 2023; NewEdge in September last year; and most recently, Dynasty Financial Partners last month.
Still, Goldman remains apparently a very minor player in the RIA custody space. According to the latest Advisor Technology survey report from t3, Goldman Sachs Advisor Solutions currently holds just around a one percent share of the market, putting it behind TradePMR – which was recently acquired by Robinhood – and Axos Advisor Services.
“Throughout my career, I've been passionate about helping mission-driven firms grow in meaningful ways,” Kennelly said. “I see tremendous opportunity to build on Opal's client-first approach while developing the next generation of advisory talent.”
Kennelly was named to InvestmentNews’ “40 Under 40” list in 2018 for her work in driving strategic innovation across platforms serving independent advisors.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.
David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.
Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."
Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
