Episode summary
What Winning RIAs Are Doing Differently in a More Competitive Market
Summary
Sean Meighan says the firms winning in today’s RIA market are not defined by a single growth model. Some are pursuing aggressive M&A, while others are growing organically through marketing, referrals, and lead generation, but the common thread is that they are using technology to scale, building the next generation of advisors, and outsourcing pieces of the tech stack. He argues that “outsourcing” should be understood less as giving up control and more as automating the back office, especially when firms want to use their own portfolio models while leaning on a platform for trading, cash raising, and distribution management.
Meighan also says M&A pressure is forcing firms to adopt technology faster. In some cases, firms want to triple assets over the next two to three years without adding home-office headcount, which makes automation and outsourced infrastructure essential. He sees that as a positive development for providers like InvestNet and as a tailwind for younger advisors entering the industry through CFP programs and junior advisor tracks.
He adds that InvestNet has reorganized its sales approach to serve both centralized firms and decentralized firms, with different service models for each. Looking ahead, he believes the firms that win will expand beyond basic portfolio management into more holistic “family office” style advice, including planning, health care, and lifestyle support.
Key takeaways
- Sean Meighan says there is no single winning growth model: some RIAs are scaling through M&A while others are growing organically through referrals and lead generation.
- He says the common denominator among successful firms is technology-led scale, including outsourcing parts of the tech stack and automating the back office.
- Meighan says some firms want to triple assets in two to three years without adding home-office headcount, making automation and AI-enabled workflows critical.
- He believes the next generation of advisors has a better career path than before, with CFP programs, junior advisor roles, and possible equity stakes.
- He argues the biggest winners will deliver a more holistic, family-office-style client experience, not just portfolio management.
Notable quotes
“So, while technically, yes, it is outsourcing, we're really just providing the trade tech and then automating their back office fork”
“They want to 3x their assets in the next two to three years, but they were they've been told you're not hiring a net new head in the home office”
“I don't think there's ever been a more exciting time to be a young financial adviser in this industry”
“The RAAS that are going to win, they've taken this family office story that used to only really live in the wirehouses and they're bringing it to the masses”
How the episode opens
The REA landscape is getting more competitive and even more complex. So to hear about the latest trends in all of it, I'm joined by Shan Mian. Sean, thanks so much for joining me. — Thanks so much for having me.
So starting with the million-dollar question here from your seat overseeing RA distribution at InvestNet, what are the defining characteristics of firms that are actually winning in this competitive landscape? out
Winning is an interesting question because it's different for every firm. You see some firms on a very interesting inorganic growth M&A strategy where they're trying to shoot for the moon and gather assets through acquisition as fast as possible. And we have some other amazing clients that we work with that are all in the organic growth game.
They're not acquiring at all. They're doing it organically through marketing, through referrals, through lead generation. So there's no right way to do it.
The nice thing about that is the commonalities between them. They're all scaling with technology. They're all building out that nextgen of advisor that will be the future of our business and they're delivering scale in their business.
They're outsourcing their tech.
And that's I think that's an interesting point because we've seen the shift to outsourcing more and more in this space. Just curious what you're seeing there too in terms of trends. — Yeah, outsourcing is one of those words we get a little squeamish with because it can mean so much to different firms.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- ria competition
- ria growth strategy
- ria technology automation
- advisor talent
- client service models
Watch the episode
Watch “What Winning RIAs Are Doing Differently in a More Competitive Market” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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