Unlocking Real Value Blog

AK Quoted in Article on Private Bank RIA Acquisition

The article I am quoted in concerns the acquisition of Analytic Asset Management by Fieldpoint Private Bank and Trust. Click here to read the article, which appeared in FundFire. Analytic is relatively small – managing approximately $275 million. But it represents the bank’s strategy of increasing its number of locations via strategic acquisitions of advisors.

The article explores the question of whether it is more important to expand into particular locations – in this case New York City – or expand in locations where you can hire the highest quality advisors. This is the topic the reporter queried me on, and I agree with the bank’s CEO that acquiring the right people – human capital – is more important today than hiring in particular locations.

This phenomenon is partly a result of the financial crisis, where firms are being more prudent in how they spend money. But it is also a result of technology and the growth of social media. With more efficient ways to communicate with your clients being discovered every day, the location of your office is less important. The one caveat here is if you are in a location that is isolated and makes it difficult for you to get to your clients.

The cache of being in one location versus another takes second place to acquisitions that make strategic and financial sense for a company and help it execute its plans. I know, this is ironic coming from someone who just move to NYC – but in all honesty, my clients don’t really care where I live!


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