Creative Planning Closes on Goldman Sachs PFM Deal

Creative Planning , the Overland Park, Kan.-based registered investment advisor run by CEO Peter Mallouk , closed on its acquisition of 高盛 ' Personal Financial Management unit Friday morning. The terms of the deal were not disclosed.

Mallouk said he will revive the United Capital name, and the business will operate as a wholly-owned, independent entity of Creative Planning . It will be based in Irving, Texas, and operate under its own SEC registration and its own management team. Mallouk named James Rivers , a former region head of Goldman Sachs PFM for the Americas West Coast region, to lead the new United Capital as president.

In an interview with WealthManagement.com , Rivers said the "new" United Capital coming out of Goldman Sachs has 125 advisors in 25 states across 50 offices, and about $20 billion in assets. They will join as W2 employees, and their employment agreements will mimic those they had at Goldman, with the same compensation structures. They also will have the same non-compete and non-solicitation agreements. That includes a 90-day notice provision and six-month non-compete agreement.

There will be no repapering involved; all the advisors custody with either Charles Schwab or 富达 .

Continue Reading:?Creative Planning Closes on Acquisition of Goldman Sachs Personal Financial Management

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While technology is considered “table stakes” for wealth managers, it’s now all about implementing the right technology to drive productivity and growth. It’s no longer enough to have technology that works well together, it must also deliver a great client experience. To gain a competitive advantage, growth-minded advisors are seeking solutions that utilize AI for personalized experiences at scale, harnessing the power of customer data, and streamlining back-office tasks. Technology that ultimately supports clients’ evolving needs will attain ongoing benefits.

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In the latest episode of the WealthManagement EDGE Podcast, host Nabia Jenkins-Johnston asks Jamie Hopkins Esq., LLM, CFP?, ChFC?, CLU?, RICP? about his recent transition from his position at Carson Group , a role he cherished, to SVP and director of private wealth management at Bryn Mawr Trust .

Jamie shares what it means to provide a community of support and mentorship to young professionals through the FinServ Foundation . Nabia and Jamie also discuss Jamie’s career transition insights and embracing new challenges in finance and the value of continuous learning and staying relevant in the industry.

Listen to the episode!

We spoke with Fidelis Capital Partners Investment Research Analyst Nick Smith about how they’re investing in the current climate. Here’s what he said:

WM: What’s your top contrarian pick at the moment?

I’m not sure you would call it contrarian, but our investment committee has had some conversations about Japan. Japan has been a bit of a forgotten market the past decade or so, but there has been a shift occurring within corporate Japan as it relates to creating shareholder value. Many of the country’s larger firms are in great shape financially, and we believe we’re getting closer to an inflection point in the U.S. dollar this cycle that benefits international companies.

WM: What fund families or model portfolio providers do you use?

When we use active management, we try to do so in more inefficient areas of the market—specifically, U.S. mid cap, U.S. small cap, U.S. SMID cap—and emerging markets. We try to find unique, niche firms that typically specialize in certain segments of the market and manage pretty concentrated portfolios. We’ve had success this year with Principal Mid Cap Core, Kayne Anderson SMID, and GQG Emerging Markets.

Continue Reading: Top RIAs on The Current Investing Climate