This Week in Wealth

Alex Steger and Ian Wenik do a deep dive into why so many new RIA-focused minority investors have popped up in recent years, what they're offering and why sellers might like them to traditional options such as private equity firms and strategic acquirers.

Creative Planning CEO Peter Mallouk joins This Week in Wealth to discuss the state of RIA M&A, how his own role has evolved, and what’s next for his $370bn firm.

Mallouk, who has completed scores of acquisitions, including the 2023 deal for Goldman Sachs Personal Financial Management, explains why there is still plenty of PE money chasing RIAs but argues that multiples are increasingly challenged for larger firms, unless they are growing organically.

In a wide-ranging interview, Mallouk also shares how his responsibilities have changed and looks back at a formative job for the Kansas City Royals.

Alex Steger and Ian Wenik walk through Osaic's $4.3bn debt capital raise, which allowed Citywire RIA readers and listeners to get a rare look inside the financial terms of a large RIA acquisition, along with AllianceBernstein's efforts to acquire an RIA. Plus, Alec Rich joins to the show to recap a new lawsuit filed against Edelman Financial Engines by a woman who claims she is the victim of a crypto scam.

Ian Wenik and Alec Rich come back from the long weekend to discuss how a new survey from AdvisorPro sheds light on the looming demographic crisis RIAs face and recap how Merit Financial Advisors grew to $20bn and secured a new investment from Constellation Wealth Capital.

Alex and Ian look back at the most popular RIA news stories of H1 (there's a quiz and quiz music), check in on their own forecasts for 2025 (not a total bust), and discuss some of the more unexpected events of the year so far. Happy 4th of July listeners!

Alex, Ian and Sam discuss the latest developments in an ongoing legal dispute between Carson Group and a former marketing executive. They also break down robo-advisor Wealthfront's decision to pursue an IPO and LPL's attempts to keep Commonwealth advisors in the fold.

Using a poll of attendees at Citywire's San Diego CIO Summit as a jumping-off point, Alex, Ian and Sam discuss when — or if — an RIA will go public, why private credit is simultaneously both popular with and scary for wealth managers and a rollback of some SEC proposals which had garnered major coverage.

Focus Financial Partners chief executive Michael Nathanson believes that RIAs are in a new era, that the 'age of the founder is coming to an end' and that aggregators need a new model. Alex, Ian and Andrew (plus a special, arguably unwanted, guest) discuss Nathanson's comments, map out how the RIA industry has evolved and forecast where things will go next. Plus, the Padres, Charles Dickens and an update on Ian's back.

Alex Steger, Ian Wenik and Alec Rich discuss their latest scoops on Pershing instituting a new asset-based fee for custodial clients, an explosive lawsuit between an Osaic client and his advisor-turned-ex-wife, and $8bn Wealthcare's agreement to sell itself to an insurance giant.

Alex Steger, Ian Wenik, Sam Bojarski and Alec Rich recap recent Citywire scoops on Orion founder Eric Clarke leaving the tech company's board, a wave of layoffs at LPL acquisition Atria Wealth Solutions and the changing dynamics within the SEC.