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Thursday, February 2, 2023

Mindy Diamond on Independence: David Canter M&A, RIAs, and Extra

You may say that David Canter’s function as President of Bluespring Wealth Companions clearly demonstrates a frequently evolving trade.

The subsidiary of Kestra Holdings launched in 2019 with a mission targeted on buying unbiased wealth administration practices which have their sights set on development, succession, and continuity.

And it was a mission that proved to be a strong draw for the almost 13-year veteran of Constancy Clearing & Custody Options—and an ideal match for his expertise and information round M&A and the RIA area.

David was first a visitor on this sequence in September of 2018 when he was the Government Vice President and Head of the RIA section for Constancy, liable for driving the execution and outcomes of greater than 2,800 RIA corporations throughout eight territories all through the U.S. In that episode, he shared an in depth view of independence and the custody trade (with commentary that’s nonetheless related at the moment, so make sure to pay attention in).

Little doubt, unbiased enterprise homeowners have a rising area of choices when contemplating promoting all or a bit of their enterprise. And in what continues to be an energetic M&A market, Bluespring has been attracting its fair proportion of headlines. For example, they closed out 2022 with 9 acquisitions—greater than $3B in AUM.

But one of many greatest bulletins final yr could possibly be that of David taking over the management function of the agency.

As a result of there are few folks on this trade who’ve David’s distinctive mixture of expertise and information—neither is there anybody as beneficiant in sharing all that he is aware of.

On this episode with Louis Diamond, David talks about an evolving trade, together with:

  • Life within the unbiased world “earlier than it was cool”—and the way it’s modified at the moment.
  • His view of the custody world—and why he sees it as a utility enterprise and never a commodity.
  • The choices advisors have when contemplating a capital companion or exit technique—and the way Bluespring suits into this ecosystem.
  • Bluespring’s distinctive worth proposition—and why he sees the agency as a “drive multiplier.”
  • The expertise scarcity—and why he’s optimistic about well-trained subsequent gens rising up.
  • The bull marketplace for advisors and recommendation—and the 4 key issues persevering with to drive motion and M&A exercise.
  • Plus, David talks in-depth about discovering your “unfair benefit”—and why it’s one of the vital essential elements of any profitable enterprise.
  • And rather more!

It’s an episode that covers lots of floor—an in-depth information base for worker advisors and unbiased enterprise homeowners alike.

Obtain a transcript of this episode…

Hearken to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change.

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