An “outside-in” look at how a capital partner helped this RIA make the leap to independence—and achieve amazing results.
Bill Loftus, Founding Partner of Coastal Bridge Advisors, and Mark Dupont, Senior VP of Independence and Operations at Focus Financial Partners, join Mindy for an intensive look at Coastal Bridge Advisors, one of the original marquis teams to break away with Focus Financial Partners in 2008.
Bill shares why he and his partners left their wirehouse and $600mm in institutional assets behind at “an interesting time,” that is, in the midst of the financial crisis and when a leap to independence was far less common.
The firm is now managing $2.4B – a far cry from the $400mm AUM they started with – and is well on its way to becoming a national firm. It’s a level of success they achieved through organic growth, smart planning and what Bill describes as the “exceptional talent and culture” at the firm.
Mindy, Bill and Mark take an in-depth look at this extraordinary growth, the role Focus played in their evolution, and much more, including:
- What prompted Bill and his team to leave their wirehouse in the midst of the 2008 financial crisis.
- Why they chose to work with Focus.
- The key factors that ultimately made the move successful.
- How Coastal Bridge’s UHNW clients reacted to the move.
- How Coastal Bridge was able to accelerate growth in a way not possible at a traditional brokerage firm.
- Coastal Bridge’s plans for future inorganic growth, and the role Focus will play in such growth.
- Predictions for the future of the RIA industry.
- And so much more.
Bill’s message to advisors who are still wary that their UHNW clients need the security of a brand name firm: “The proof is in the pudding.” And he should know.
So listen in to this exceptionally informative and candid episode, which captures Mark’s intense knowledge of the space and Bill’s enthusiasm and experience—a rare combination that every advisor looking at independence will benefit from.
11 Most Read IRIS Articles of the Week!
Why Secure Passwords Matter and How to Create Them
10 Ways to Celebrate International Women’s Day
Becoming a Great Podcast Host with Celeste Headlee
New Guiding Principles for Opportunity Zone Investors
Leaders: Do You Challenge Your Status Quo?
9 Marketing Trends That Will Dominate This Year
How To Keep Envy From Destroying Your Workplace
6 Tips to Help Your Journey to Retirement
Who Do You Sell to First
Forward-Looking Investing1 day ago
Moat Investing: Powered by Morningstar
Market Strategist1 day ago
We Are Not Convinced the Market Storm Has Completely Passed
Development1 day ago
Advisors: How To Answer “What Do You Do?”
Markets2 days ago
Higher Mortgage Rates, Student Loans and Nike
Equities2 days ago
7 Stocks That Pay the Largest Dividends of All That Trade on Nasdaq – Or Do They?
Advisor2 days ago
The Wizards of Wall Street vs. The Selbees from Michigan
Markets3 days ago
The Chameleons Are on the Run
Compliance3 days ago
Regulators Focusing on How Firms Identify, Monitor and Test Custody Scenarios With Client Assets