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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.
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| Gibson Capital, LLC AUM: $937 million Wexford, Pennsylvania |
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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.
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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
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Mark P. Hurley 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.
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Yvonne N. Kanner 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.
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Steven E. Cortez 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.
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Benjamin J. Robins 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.
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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.
Some of FN's work with its partner firms to date includes: |
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:
FN's transaction is unique from other firms' in a number of ways.
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:
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: