“They have the skills to run huge companies, so why not focus on a start up?” one senior executive said.
“They have the skills to run huge companies, so why not focus on a start up?” one senior executive said.
Both former Merrill Lynch head John Thiel and former LPL Financial CEO Mark Casady on Monday said they had taken on new roles in the financial advice industry, with the former announcing he was a co-founder of a new RIA and the latter saying he had taken on a board seat at a technology that focuses on artificial intelligence in the wealth management business.
As the wealth management industry continues to expand and ride the wave of private equity cash aimed at new startups or aggregators focused on bundling financial advisors, it’s no surprise that leading veterans like Thiel and Casady, who oversaw ten of thousands of financial advisors in their prior roles, were actively pursuing such ventures, industry observers noted.
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