Is true independence doable at scale? On this episode of the RIA Edge podcast, host David Armstrong talks with Concurrent CEO Nate Lenz about how his fast-growing RIA platform helps advisors keep impartial whereas accessing the size, capital and expertise wanted to develop.
From multi-custodial flexibility to a singular minority partnership mannequin, Lenz shares what’s energizing youthful advisors seeking to stay impartial, whilst pressures to scale drive enterprise technique and hovering RIA valuations maintain many from with the ability to afford the advantages of agency possession.
Key takeaways:
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Why Concurrent launched a “minority, non-control” capital program backed by capital accomplice Service provider to take possession stakes in RIAs, arguing the method aligns incentives with advisors and avoids the roll-up mannequin that usually strips away autonomy.
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How the agency’s “Basecamp” platform creates efficiencies that advisors couldn’t obtain alone, whilst they preserve their very own manufacturers and consumer relationships, and the way a “powered by Concurrent” co-branding with accomplice corporations can protect native tradition whereas signaling nationwide power.
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How his agency is addressing the “expertise wars” by turning inward and constructing coaching packages for brand spanking new advisors. Lenz has a aim to coach 100 new advisors over 5 years by means of a structured apprenticeship mannequin.
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How Concurrent is utilizing its massive 401(okay) plan sponsor base and partnerships with corporations like TIFIN to create new natural progress channels.
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How increased rates of interest have compressed valuations and raised the price of capital within the RIA M&A market, but not all corporations will reply in the identical approach. Some well-capitalized corporations with fairness to deploy nonetheless have a robust edge whilst they keep away from auction-style offers the place patrons pay unsustainable multiples.
Assets:
Join With David Armstrong:
Join With Nate Lenz:
About Our Visitor:
With greater than a decade of monetary business expertise, Nate Lenz is a frontrunner for advisors seeking to understand their potential as entrepreneurs. He’s at the moment the CEO and Co-Founding father of Concurrent, a $7 billion OSJ turned RIA that was named an InvestmentNews Finest Place to Work in 2023. Concurrent is pushed by partnering with advisors to assist them develop their impartial companies.
Nate’s profession has targeted on supporting monetary advisors, empowering them to succeed with out the backing of huge monetary providers firms. Previous to his work at Concurrent, he was a Co-Founder and Managing Accomplice at I&A Consulting, specializing in mergers and acquisitions and recruiting skilled advisors. Earlier than that, he was VP of Succession Planning & Acquisitions at Raymond James Monetary Companies, the place he led the in-house consulting group that supplied help to 4,000+ RJ impartial monetary advisors. His earlier work helped form his imaginative and prescient for Concurrent and deepen his funding in guiding impartial monetary advisors by means of all phases of the enterprise life cycle
He graduated from Columbia College and was acknowledged in 2022 as an InvestmentNews 40 Beneath 40 honoree