The talent war in wealth management is intensifying. Massive consolidation has eliminated C-suite roles while creating explosive demand for advisors and teams that bring clients. Team liftouts have become more desirable than ever, but the economics, legal complexity, and retention challenges are reshaping how firms recruit, retain, and compensate talent.
In this episode of Contrasting Viewpoints, Ray Sclafani and Mark Hurley are joined by Allan Starkie of Knightsbridge Advisors to discuss what's really happening in the battle for talent. The conversation explores team liftout pricing (from 3x revenues to 10x EBITDA), the shift from wirehouse dynamics to RIA equity economics, the portability analysis that determines success, and the legal strategies advisors and firms are using to compete. Allan shares insights from placing 47 team liftouts in the last five years and explains why 90%+ of his placements stick—while most others fail.
Whether you're a firm trying to win talent, an advisor evaluating a move, or a CEO building retention strategy, this episode offers practical guidance on separating hunted business from handed business, understanding real client portability, and building the cultural fit that determines whether a move succeeds. The best decision makers start with a simple question: Are your clients loyal to you, or to your institution? This episode helps you answer it.
About Our Guest:
Allan R. Starkie, Ph.D., is Managing Partner of Knightsbridge Advisors and one of the most respected executive recruiters in wealth management. With more than 25 years of experience in retained search, M&A consulting, and succession transitions, Allan has become the go-to advisor on talent movement, recruiting economics, and retention strategy for elite RIAs and wealth management firms across the country.
A West Point graduate and former Green Beret and Army Intelligence officer, Allan brings a unique perspective shaped by work at the Pentagon, the Defense Intelligence Agency, and the C-suite. He holds an MBA from Harvard Business School, a Master's degree in Strategic Intelligence, and a Ph.D. in Business from Oxford. He is a published author, international business advisor, and Adjunct Professor at LIU Post.
Through Knightsbridge, Allan sees the full landscape of advisor movement: who's leaving, who's staying, which firms are overpaying, and which are quietly becoming talent magnets. His firm has executed 47 team liftouts in the last five years and maintains industry-leading retention—90%+ of placements stick beyond three years, far outpacing the broader market. This episode draws on those frontline insights to help advisors and firms navigate one of the most competitive talent markets in wealth management history.
About Our Hosts:
Mark Hurley
Mark Hurley is CEO of Digital Privacy and Protection, a cybersecurity specializing in serving clients of financial advisory firms and other professionals. Prior to that, he was CEO of Fiduciary Network, an acquirer of minority interests in RIAs. From 1998 to 2004, he was CEO of Undiscovered Managers, a mutual fund company that was sold to JP Morgan Asset Management. He began his career as an investment banker in the financial services division of Goldman Sachs, where he specialized in asset management. He is a graduate of the United States Military Academy at West Point and holds an M.B.A. from the Stanford Graduate School of Business.
To learn more about Mark Hurley and Digital Privacy and Protection visit dpripro.com
Ray Sclafani
After 20 years at AllianceBernstein, Ray Sclafani founded and heads ClientWise, the premier coaching and training company exclusively serving the financial services industry. Ray’s passion for serving leaders, advisors, and companies in the financial services sector is reflected in ClientWise and its unique coaching programs and team of credentialed coaches that help advisors and companies find the next level of professional excellence and financial success with greater focus and ease.
Ray’s experience as a seasoned specialist in coaching and training in the financial sector mirrors his long and profitable history in the industry. In his 20 years at AllianceBernstein, Ray was one of the company’s top sales professionals and executive leaders. His knowledge of how to create and execute on highly successful sales plans and build long lasting client connections was later utilized as founder and Managing Director of the Advisor Institute at AllianceBernstein.
As a complement to his coaching skills, he also holds a Master’s Certification in Neuro-Linguistics from the International Association for Neuro-Linguistic Programming and has participated in The Strategic Coach® Program for 17 years.
Ray’s book, You’ve Been Framed: How to Reframe Your Wealth Management Business and Renew Client Relationships, was published by Wiley in 2015. Ray holds a BA from Baylor University. He lives in Flower Mound, Texas with his wife and true life partner, Beth. Their two sons and Beth continually inspire his work and his passion for excellence.
To learn more about Ray Sclafani and ClientWise visit www.clientwise.com
