Friday, February 27, 2015
Investment News reports that United Capital's recruitment of a $2 billion registered investment adviser out of a bank is not only the firm's biggest addition since its founding in 2005, it also marks a shift in how the firm plans to compete going forward.
With the hire of the 23-member team, which had formerly operated as Capital Investment Counsel Inc. under Compass Bank, United Capital is now focused on recruiting rather than making acquisitions, according to Matt Brinker, senior vice president of acquisitions at United Capital. The firm had previously only acquired independent RIAs, usually established offices with about $500 million in assets under management.
“It's a bit of a pivot,” Mr. Brinker said. “The platform has evolved to such a point that people are going to be joining us, much like CIC, to avail themselves of the platform, and that means folks that are doing $500,000 in revenue all the way to the size of CIC.” see Investment News' story