.

 

 
loading...
Footer 2008 Fiduciary Network, LLC. All rights reserved.

 


NEWS FLASH

Fiduciary Network Releases White Paper:
"Creating, Measuring and Unlocking Enterprise Value in a Wealth Manager"

 
  Download PDF

Fiduciary Network Invests in Adviser Investment Management and Kobren Insight Management



FN's transaction structure provides fee-only wealth management firms with a means for transitioning internally, remaining independent and under the control of current and future management. It also allows the firm's shareholders to get full and fair value for their ownership stakes.


Fiduciary Network Buys Stake in Utah RIA InvestmentNews , August 2010

Fiduciary Network Invests in Legacy Wealth Management Financial Advisor Magazine, January 2009

Fiduciary Network Buys Stake in Gibson Capital Management Financial Advisor Magazine, January 2009

Fiduciary Network Buys Stake in Keats Connelly Financial Advisor Magazine, November 2008

Keats Connelly Adopts Novel Transition Plan InvestmentNews, November 2008

Brouwer & Janachowski, Seton Smoke to Merge InvestmentNews, September 2008

Merger Creates $1 Billion Fee-Only RIA Firm Financial Advisor Magazine, September 2008

Adding New Owners Financial Advisor Magazine, May 2008

The Big Chill Financial Advisor Magazine, April 2008

Exit Planning Strategies Boomer Market Advisor Magazine, January 2008

Fiduciary Network Buys Stake in Brouwer & Janachowski Financial Advisor Magazine, January 2008

Fiduciary Strikes Ownership Transition Deal InvestmentNews, January 2008

Is Your Firm Worth More Than You Think? MoneyShow, October 2007

Succession Plan Features a Liquidity Option InvestmentNews, September 2007

Fiduciary Network Buys Brightworth Stake Financial Advisor Magazine, September 2007

Mania in Bloom? Financial Advisor Magazine, April 2007

Helping RIAs Hand Off to the Next Generation InvestmentNews, March 2007

Fiduciary Network Buys Stakes in Atlantic, Evensky & Katz Financial Advisor Magazine, February 2007


NEWS FLASH
Fiduciary Network Invests in Adviser Investment Management and Kobren Insight Management

FN has invested in twelve of the most well-regarded wealth management firms in the U.S. Recognized as leaders and innovators in their industry, these firms together manage over $10 billion in assets.

Atlantic Capital, LLC
AUM: $1.9 billion
Morristown, New Jersey

Atlantic Capital's 19 credentialed wealth management professionals combined have more than 250 years of industry experience. The firm has been recognized as one of the top financial advisers in the country by publications such as Financial Advisor Magazine and Barrons’s.

 

Brightworth, LLC
AUM: $753 million
Norcross and Buckhead, Georgia

Brightworth is consistently ranked one of the top financial advisers in the country by publications such as Robb Report Worth and Bloomberg Wealth Manager magazines. Its partners include David Polstra, Chris Dardaman and Ray Padron as well as 10 other professionals.

 

Brouwer & Janachowski, LLC
AUM: $942 million
Tiburon, California


Brouwer & Janachowski is considered a pioneer in the strategy of investing in a portfolio of superior mutual funds. The founders, Kurt Brouwer and Steve Janachowski, launched the firm in 1987 and now serve more than 300 clients.

 

Seton Smoke Capital Management (now Brouwer & Janachowski, LLC)
Tiburon, California

Seton Smoke Capital Management merged with Brouwer & Janachowski in September 2008, adding about $300mm in assets to B&J's approximately $680mm at the time of the merger. Robert Smoke, Seton Smoke's primary principal, is now Vice Chairman of B&J and plans to stay with B&J for at least five years.

 

Evensky & Katz Wealth Management, LLC
AUM: $624 million
Coral Gables, Florida

The founders of Evensky & Katz, Harold Evensky and Deena Katz, are internationally-known figures in the financial planning community. They have co-written several major industry books, including Retirement Income Redesigned and The Investment Think Tank.

 

Keats, Connelly, LLC
Phoenix, Arizona; West Palm Beach, Florida; Naples, Florida; and Detroit, Michigan

Keats, Connelly and Associates, internationally-recognized for its work on U.S.-Canadian cross-border issues, assists clients who have accumulated wealth in Canada and wish to move to the U.S. to receive favorable tax treatment. Robert Keats book, The Border Guide, is now in its 10th Edition and has become a Canadian bestseller. The firm manages more than 100 client relationships in two offices across the country and was recognized as the top CPA financial planning firm in the U.S. by CPA Wealth Provider.

 

 

Gibson Capital, LLC
AUM: $937 million
Wexford, Pennsylvania

Gibson Capital Management was built on the principles pioneered in the book, Asset Allocation: Balancing Financial Risk, written by the firms founder and President Roger C. Gibson. This book, a bestseller on the topic of asset allocation for almost 20 years, is considered an investment classic. The firm has over 100 clients consisting of high net worth individuals, foundations and retirement plans across the country.

 

Legacy Wealth Management, Inc.
AUM: $793 million
Memphis, Tennessee

Legacy, recently selected by the Memphis Business Journal as one of the best places to work in Memphis, is one of the largest fee-only financial planning firms in Tennessee. The firms success helped John Ueleke, the firms founder and CEO, make Worths annual list of the 100 best financial advisers in the nation 10 times. Other accolades include being featured in "The Nations Most Powerful Financial Planners" by Barrons and as one of the"150 Best Advisors" by Mutual Funds magazine.

The firm has 26 employees with 1 Ph.D., 13 Masters Degrees and 1 J.D., 15 CERTIFIED FINANCIAL PLANNER™ practitioners, 4 Chartered Financial Analysts®, 3 CLUs®, 1 CPA, & 1 CAIA.

 

Sand Hill Global Advisors, LLC
AUM: $907 million
Palo Alto, California

Sand Hill Global Advisors, founded in 1982, delivers wealth advisory and investment management services to individuals and families, as well as endowments and foundations. They partner with their clients to offer objective advice, customized planning, and sophisticated investment management. For each and every client, they employ the firm's knowledge, tools, experience, and broad investment perspective to deliver a solution tailored to meet their objectives.

 

Soltis Investment Advisors, LLC
AUM: $881 million
St. George, Utah

Soltis Investment Advisors is a leading wealth management firm providing wealth advisory services to more than 60 retirement plans and over 750 individuals. It is located in St. George, Utah. The firm was founded in 1993 by Lon Henderson and Hyrum Smith. Soltis has carved out a national presence as an advisor to small and mid-sized company 401(k) plans.

 

Adviser Investments, LLC
AUM: $2.0 billion
Newton, Massachusetts

Founded in 1994, Adviser Investments is an independent, personalized money management firm dedicated to servicing individuals, trusts, institutions and foundations. The firm specializes in mutual funds, exchange-traded funds and undiscovered managers. Fiduciary Network helped finance its March 2011 acquisition of Kobren Insight Management. At closing, the firms managed a combined $2.3 billion in assets under management.

 

Kobren Insight Management (An Adviser Investments Company)
Wellesley Hills, Massachusetts

Founded in 1987, Kobren Insight Management merged with Adviser Investments, LLC in March 2011. Initially developed out of a Fidelity fund family newsletter written by founder Eric Kobren, the firm provides portfolio management services to high net worth individuals, corporations, foundations, endowments, and 401(k) plans. The firm specializes in mutual funds, exchange-traded funds and individual bonds for its client portfolios.

 

*AUMs as of 9/30/11.

 

 

For further information or to discuss how FN might work with your wealth management firm, please contact us at:

Fiduciary Network, LLC
One Lincoln Centre
5400 LBJ Freeway, Suite 910
Dallas, TX 75240

Phone: (972) 982-8700
Fax: (972) 982-8701


Mark P. Hurley
President & CEO

Prior to co-founding FN, Mark Hurley was Chairman and CEO of Undiscovered Managers, LLC, a mutual fund company he founded in 1998 and sold to J.P. Morgan/Chase in 2003. Before starting Undiscovered Managers, Hurley was a Managing Director at Merrill Lynch and Co. and a Vice President at Goldman Sachs & Co. His last assignment was as Managing Director and Head of Worldwide Marketing, Client Service and Product Development for Merrill Lynch Capital Management Group. He also served from 1990 through 1992 as a Presidential Appointee in the United States Treasury Department during the first Bush Administration at the Office of Thrift Supervision, the agency responsible for regulating the nation's savings and loans.  Additionally, he was an officer in the United States Army from 1980 to 1985.  Hurley is a graduate of the United States Military Academy at West Point and received an M.B.A. from the Stanford Graduate School of Business.

 

Yvonne N. Kanner
Executive Vice President & COO

Yvonne Kanner has spent the last decade working with wealth management firms including publishing original research on issues confronting this industry. Prior to co-founding FN, Kanner was Chief Operating Officer of Undiscovered Managers, LLC, where she was responsible for all of the organization's administration, regulatory and mutual fund activities, research and intellectual capital origination, and business and financial operations. She also had responsibility for managing the firm's relationships with each of the major custodians that service wealth management firms. A graduate of the Wharton School at the University of Pennsylvania, Kanner previously worked in the Latin American institutional asset management group at Merrill Lynch Capital Management Group.

 

Steven E. Cortez
Executive Vice President

Cortez, a co-founder of FN, directs the firm's marketing activities. In this capacity, he manages projects ranging from financial modeling for prospective investments to growth initiatives for current clients. Cortez began his career at Strong Funds. He then served as Director of Marketing at Undiscovered Managers, where he worked extensively with wealth managers, organizing and directing the marketing of the firm's products and services as well as creating new marketing and growth strategies. Cortez, who has worked with wealth management firms for more than 10 years, created the industry's first 1940's Act Registered Fund of Hedge Funds vehicle customized to wealth management firms during his tenure at Undiscovered Managers. He also played a key role in the organization's research and publication effort while managing the company's internal wholesaling staff. Cortez earned a B.A. from Arkansas State University.

 

Benjamin J. Robins
General Counsel

Ben Robins is responsible for all legal matters related to transactions with wealth management organizations. He also manages FN's compliance program. Prior to joining FN, Robins worked as an attorney at Boston-based Ropes & Gray, LLP, where he specialized in private equity mergers and acquisitions and also gained experience counseling mutual funds on various regulatory matters. Robins graduated magna cum laude from Cornell University and earned his law degree from New York University School of Law, where he was an associate editor of the New York University Law Review.

 


FN brings a wealth of resources to help its partner firms succeed. But because each firm is unique, our team works closely with their management to identify which of our resources might be of the greatest use. However, in all cases, the decision whether to take advantage of any of FN's capabilities rests solely with the management of each individual firm.

downloads/pharmabook122607.pdf   Case Study
The Continuing Evolution of the Phamarceutical Industry: Career Challenges and Opportunities
  White Paper
"Creating, Measuring and Unlocking Enterprise Value in a Wealth Manager"


Some of FN's work with its partner firms to date includes:
market tabs

Wealth management firms partner with FN so that they can best take care of their clients - as independent businesses under of the control of current and future management and still pay a full and fair price to the individuals who created and built these great organizations.

FN's transaction structure both allows a wealth management firm to accomplish these goals and provides other benefits including:

reasons to partner tabs


FN's transaction is unique from other firms' in a number of ways.

difference tabs

FN makes long-term, passive investments in fee-only wealth management businesses. Our capital helps fill the gap between the intrinsic value of an advisory firm and what the company's successor owners can afford to pay for equity in their organization.

FN's Transaction Structure

FN lends money to a company's non-owner professionals to gradually (over many years) buy as much equity as possible from the firm's current owners. At the same time, FN gradually purchases the company's remaining cash flow from the owners with an instrument that converts into non-voting stock of the company. In all cases:

about business tabs

There are many great wealth management businesses. However, our company will make only a relatively small number of investments. So we believe it is critical that any potential partner and FN share many of the same values, including:

about us - philosophy tabs