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The Evolution of the COO Role and Why It Often Fails at RIAs


The Evolution of the COO Role

In the eighth episode of The COO Roundtable, Matt sat down with David Canter and Scott Slater of Fidelity Clearing & Custody Solutions.

David is the Executive Vice President and Head of the RIA Segment at Fidelity.  A lawyer by trade, David has been in the industry for 25 years and has been involved in everything from setting up RIAs from a legal and compliance perspective to helping them grow and scale from a practice management standpoint.

Scott is the Vice President of Practice Management and Consulting at Fidelity.  He helps some of the largest firms in the industry work through their M&A strategy and is also host of the Future Ready Through M&A Podcast.

Matt, David, and Scott sit down to discuss their unique perspective into RIAs of various shapes and sizes across the country and much more, including:

  • David and Scott’s respective professional backgrounds and how those affect their roles today
  • The evolution of the Chief Operating Officer role and how they can help a firm navigate the greater RIA ecosystem
  • How Fidelity is working with firms outside of their clearing and custody solutions
  • The four areas Fidelity focuses on to help take RIAs to the next level
  • Scott’s take on what Buyers and Sellers need to do in order to be successful in the M&A market
  • David’s perspective on the profit vs. growth debate
  • Their thoughts on why professional management tends to fail at RIAs

Related: Challenging the Notion of What it Truly Means to be a Business Owner in the RIA Space

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