Podcasts about pershing advisor solutions

Mark Tibergien is the former CEO of Pershing Advisor Solutions, a former Principal with Moss Adams Consulting, and a longtime practice management consultant and thought leader in the financial advisory industry. Over his 50-year career in financial services, Mark has witnessed the evolution of the financial advice industry and has actively defined best practices for advisory firms aiming to scale up and build enduring businesses. His extensive experience has enabled him to measure and track the key strategies that help firms not just grow in size, but also enhance their scalability and operational efficiency. In this episode, Mark shares his insights on the crucial distinction between growing in size and truly scaling an advisory firm, emphasizing that genuine scale is achieved when revenue increases outpace expenses. He also discusses the ongoing industry consolidation and outlines the different types of firms looking to acquire RIAs—financial, tactical, and strategic buyers—highlighting how smaller firms can still thrive by focusing on local excellence or specific client demographics. Listen in to learn about the importance of proactive succession planning and defining personal measures of success, which influence both strategic decisions and the broader impact of the advisory business on the community and the industry. For show notes and more visit: https://www.kitces.com/400

Episode Notes Jeff and Bruce connect with financial industry vet Mark Tibergien on all things financial advising. He explains how his retirement from Pershing Advisor Solutions in 2020 allowed him to rewire his services, providing greater reach in how he applies his years of experience in the industry. Guest Bio: Mark Tibergien retired in June 2020 as CEO of Pershing Advisor Solutions, a BNY Mellon Company, and now works as a consultant, speaker or board member with other enterprises that are going through dynamic transformation. Mark recently was appointed as Advisor in Residence for Ernst & Young Wealth & Asset Management Sector. He also serves on the board of Pathstone, a multi-family office backed by Lovell Minnick Partners. As a wealth management partner, LPL Financial helps advisors, enterprises, and institutions serve their clients.

Jeff and Bruce connect with financial industry vet Mark Tibergien on all things financial advising. He explains how his retirement from Pershing Advisor Solutions in 2020 allowed him to rewire his services, providing greater reach in how he applies his years of experience in the industry. Guest Bio:Mark Tibergien retired in June 2020 as CEO of Pershing Advisor Solutions, a BNY Mellon Company, and now works as a consultant, speaker or board member with other enterprises that are going through dynamic transformation. Mark recently was appointed as Advisor in Residence for Ernst & Young Wealth & Asset Management Sector. He also serves on the board of Pathstone, a multi-family office backed by Lovell Minnick Partners.

In the RIA M&A arena, fall is a busy time for conferences. I had the pleasure to attend two such conferences recently, both run by quality investment banking firms competing against one another in the RIA market. Despite each conference being run by competing firms, Echelon Partners and DeVoe & Co, I find it very fascinating the echoing themes between the two conferences. MINORITY INVESTORS The start of the Echelon Partners' conference began with the 10th annual debate between Echelon Founder and CEO Dan Seivert and Mark Tibergien, former CEO of Pershing Advisor Solutions. The annual debate – which I find to be quite fun – involves Dan and Mark taking 6-8 current issues, assigning each an opposing side to argue, and holding a traditional debate. Think back to debate clubs in high school, except in the RIA industry. The debate ends with an online vote from the crowd on who debated their argument better, with this year Mark being the winner – evening the 10 years' worth of scores to 5-5. A topic that has come up often lately with my clients is discussing their options on different financing acquirers/minority investors. This topic, specifically in the investment minority space, happened to be one of the debate topics by Mark and Dan. While Mark and Dan debated on opposing sides, in the end, both expressed their opinions on taking on a minority ownership interest. From my view of their conclusions, they both expressed certain skepticism about the advisability of taking on a minority ownership interest in your firm. This skepticism is very interesting to me because I've for sure witnessed more and more minority investors in the space. In fact, at the DeVoe conference, I met a new minority investor I'd not known before, and we discussed the positives of minority investments. Some of the positives of minority investors are: You can make smaller deals, such as at 20% or less You still have a majority holding of your firm You can monetize your remaining stake later You can later take “chips off the table” and build growth capital SKEPTICISM IN MINORITY INVESTORS So, the trend of minority investors entering the space is in an upswing, but why is there so much skepticism in the space towards minority investors? Well, one of the truest criticisms is that you may think by taking on a minority investor into your firm, that you're keeping control. For instance, you bring on a minority investor for 20%, you maintain 80%, logically one might think because they have a majority of the equity, that they have majority control which, to some extent, is true, but also not true in important ways. Simply put, majority control does not equal absolute control. You will still have to consult -- and even answer to – your investor, even if they have a fraction of the equity in your firm that you do due to contractual control rights that minority investors require in these types of deals. This also becomes increasingly truer, and more complicated, if you decide to piecemeal your firm out to several minority investors. The types of contractual usually provide them much more power than their ownership stakes would otherwise dictate. For instance: Adding in a veto power over certain decisions, such as on larger deals (selling the company, mergers, acquisitions, etc.). Requiring budget restrictions (including on owner's compensation), so if budget decisions are made outside of the restrictions, approval must be obtained. While there's validity for these minority investors' contractual arrangements – protecting their own interests and investments – it can become troublesome for majority owners. The most obvious reason being having to give up a significant amount of control, despite having majority ownership and only having partially monetized their equity. In the DealQuest Podcast, episode 198, I discuss more about the skepticism, and lesser discussed criticisms regarding minority investors. THE IMPORTANCE OF HAVING THE RIGHT PEOPLE BEHIND YOUR DEAL In addition to offering education, conferences also provide networking and connection opportunities to others in your space. While at the DeVoe conference, I discussed many important deal and RIA industry topics with other dealmakers, and one story struck me as an important lesson. One of the CEOs I spoke with talked about a deal he was making, and how the selling RIA firm had hired an environmental litigator (a friend of one of the partners) to represent their interests in the deal. Since the seller lacked adequate representation which was making the deal too difficult to get done, this CEO felt the best choice was to cancel the deal. It's important you have the right people behind you during your deal-making process. This CEO did his due diligence and recognized that having an environmental litigator negotiate an M&A deal was not going to be successful for them. Some things to be sure of when choosing counsel to assist in your dealmaking: Are they qualified to negotiate? (IE: don't hire an environmental litigator to negotiate your M&A deal.) Are they skilled and experienced in your industry and with deals (IE: don't hire an RIA industry law firm that mainly focuses on RIA compliance not deals nor, on the flip side, an experienced M&A attorney who doesn't know the RIA space)? What is their success rate of getting deals closed? How long have they been practicing? Are they coming from a qualified referral source and/or are able to provide multiple references from industry clients for whom they have done deals? The importance of due diligence cannot be overstated. I emphasize it so frequently because failing to do adequate pre-due diligence and due diligence (including on the choice of your team) can ultimately land you in a very unfortunate situation during your deal. RIA AGGRIGATORS & DEALQUEST PODCAST LIMITED SPECIAL SERIES Another common theme between the Echelon and DeVoe conferences was that a significant portion of all the deals currently being made are by the “big aggregator and integrator firms.” At the DeVoe conference, it was cited that 91% of recent deals being made were by these types of firms. At the DeVoe conference, they held two aggregator/integrator panels. It was, again, fascinating and inspiring for me to hear these major players discuss their philosophies, strategies, and what they're looking to attract and see the maturation of the RIA industry - one in which there was practically no investment capital and significant deal-flow less than a decade ago. It has, in fact, inspired me to run a special series on my DealQuest Podcast. On Fridays starting on November 11th, I will be running a special series highlighting the RIA aggregators and integrators within the RIA space. During this special series, I will be interviewing the CEOs and top executives of these major firms to create a resource that will help potential RIA sellers to understand the different offerings, models, benefits and comparative drawbacks of each of these firms and how they may align or not with a seller's goals and objectives. This is going to be a great series. Tune in! Conferences offer networking and educational opportunities – and I urge folk to attend them when they can – however, not everyone can attend them,so, my goal of this special limited series is to offer an accessible platform and space for these important RIA M&A-specific discussions. Again, that special limited series will begin on November 11th, and air on Fridays for six weeks. You can check them out on the DealQuest Podcast, available wherever you listen to podcasts including on Apple Podcasts and Spotify. Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. If you want to find out how deal-ready you are, take the Deal-Ready Assessment today!

  Inside the Deal Part 1: Deal Readiness How do RIAs know if they are M&A ready? How are deals sourced? Harris Baltch is joined by Mark Tibergien, Founder of Mark Tibergien Insights, former CEO of Pershing Advisor Solutions and current Board Member of Pathstone Family Office, and Brad Armstrong, Partner at Lovell Minnick Partners, to delve into the key criteria for ‘M&A deal readiness’, how to access the best COIs for originating high quality M&A opportunities, and more.  

With COVID changing nearly everything about how we live our daily lives, we have learned to adapt to this new normal. In this episode, Matt Ackermann is joined by Mark Tibergien, retired CEO of Pershing Advisor Solutions. Mark shares his experience as an advisor and the influence advisors can have on individuals.  In this episode, … Continue reading Episode 2 – Evolution In The Face Of Adversity – with Mark Tibergien →

Our guest today is Ben Harrison, who will be named as the head of BNY Mellon's Pershing registered investment advisor (RIA) custody business, succeeding Mark Tibergien, effective June 1, 2020.  He joined Pershing in 2006 and was promoted to lead business development for advisory marketplace solutions on the West Coast in 2013. In 2015, Harrison became the head of business development for the RIA custody business. He took on the additional role of relationship management in 2019. He has been serving in his current role since then.  In this episode, we discuss the growth Pershing has had since he started his career, trends within the custody industry, lessons he learned from Mark Tibergien, and why he's bullish on advice. Follow the CFA Society of Orlando on Twitter at @CFAOrlandoFL (0:38)  —  Colby Donovan and Steve Curley introduce the podcast (1:50 ) — Introduce Ben Harrison and his background (4:35) – Future of the custodian business (14:20) – What he's learn from Mark Tibergien (17:30) – Pershing's focus on the Central Florida market (19:55) – What separates Pershing from competitors (22:00) – Where to reach him: LinkedIn (22:08) – Who is the one person you'd love to have a conversation with right now? (22:55) - What are you most pessimistic and optimistic about in the world right now?

  In this episode we explore some of the hottest topics in wealth management today with Ben Harrison, Head of… Read More The post A Conversation with Ben Harrison of BNY Mellon’s Pershing Advisor Solutions appeared first on AdvisorHub.

On this episode of GetClarity, Shad Besikof, President & COO of TruClarity Management Solutions, is joined by his former colleague, Ben Harrison, Managing Director for Advisor Solutions at BNY Mellon | Pershing. Tune in as Shad and Ben virtually connect on new leadership changes, future visions for Pershing and details on how their updated value-based custody approach will lead them to become the largest RIA custodian. Ben shares his insights on what RIAs can gain by partnering with Pershing to transition from their current framework into an entrepreneurial business. Ben also addresses the current pandemic and how it reflects the resiliency of this business model through the use of cloud-based, flexible infrastructures. About our guest: Launching his career with TD Waterhouse Institutional, Ben spent the last 20 years serving registered investment advisors (RIAs). In 2006, he joined Pershing Advisor Solutions and now heads up the business and is a member of their Executive Committee. BNY Mellon | Pershing is committed to the RIA custody business and is built to serve growth-minded, professionally managed firms.We hope you gain valuable insights from this GetClarity podcast episode!Want to learn more about advisor independence? Contact TruClarity Management Solutions COO & President, Shad Besikof, shad.besikof@mytruclarity.com.

Episode 13: Succession Planning Most advisors know they need to create both a contingency AND succession plan, but that’s a task for another day!  It is an emotional process and one that many advisors have difficulty facing. This special episode of the Powering Independence Podcast is hosted by our Head of M&A Joe Rizzo with special guests Mark Tibergian, CEO of Pershing Advisor Solutions and Brad Griswold, Managing Partner at Corbenic Partners. They cover the emotional aspects of creating a succession plan, The various options for succession, the valuation process and much more!  

David has over twenty years of experience in M&A, management consulting and financial services. For his buy-side and sell-side clients, David serves as a champion and advocate as he shepherds them through their complex transactions. Mr. Selig has authored numerous whitepapers on the subjects of mergers & acquisitions, valuation, and succession planning. Mr. Selig is also a regularly featured speaker on mergers, acquisitions, and succession at conferences and industry events. Prior to founding Advice Dynamics Partners, David worked for Pershing Advisor Solutions, a division of Bank of New York Mellon, where he provided consulting and asset custody solutions to registered investment advisors. Mr. Selig also worked for Deloitte Consulting in the 1990s and for technology startups in the early part of the 2000s. David holds an MBA in Strategy and Management of Organizations from the Graduate School of Business at Columbia University and a BA from the University of California at Santa Barbara. What You Will Learn: David Selig's journey into the RIA industry and entrepreneurship Advice Dynamic Partners' niche and how the company was founded The expansion of options for doing deals in the RIA industry The transformation of the buyer landscape in the RIA industry Internal and external succession: the benefits and drawbacks of each The different types of partnerships available and why they are more attractive now Different types of financing opportunities and how to identify what is best for your practice How to connect with David Selig: Website: http://www.advicedynamicspartners.com LinkedIn: https://www.linkedin.com/in/dselig/

David has over twenty years of experience in M&A, management consulting and financial services. For his buy-side and sell-side clients, David serves as a champion and advocate as he shepherds them through their complex transactions. Mr. Selig has authored numerous whitepapers on the subjects of mergers & acquisitions, valuation, and succession planning. Mr. Selig is also a regularly featured speaker on mergers, acquisitions, and succession at conferences and industry events.Prior to founding Advice Dynamics Partners, David worked for Pershing Advisor Solutions, a division of Bank of New York Mellon, where he provided consulting and asset custody solutions to registered investment advisors. Mr. Selig also worked for Deloitte Consulting in the 1990s and for technology startups in the early part of the 2000s.David holds an MBA in Strategy and Management of Organizations from the Graduate School of Business at Columbia University and a BA from the University of California at Santa Barbara.What You Will Learn:David Selig’s journey into the RIA industry and entrepreneurshipAdvice Dynamic Partners’ niche and how the company was foundedThe expansion of options for doing deals in the RIA industryThe transformation of the buyer landscape in the RIA industryInternal and external succession: the benefits and drawbacks of eachThe different types of partnerships available and why they are more attractive nowDifferent types of financing opportunities and how to identify what is best for your practiceHow to connect with David Selig:Website: http://www.advicedynamicspartners.comLinkedIn: https://www.linkedin.com/in/dselig/ See acast.com/privacy for privacy and opt-out information.

Mark Tibergien: CEO, Pershing Advisor Solutions    In this episode, Nathan and Mark Tibergien discuss:  BNY Mellon and Pershing Advisor Solutions. The importance of organizational adaptation to change. Mark’s career path and milestones. The importance of people management. Making an impact through financial literacy. Key Takeaways:  Find ways to differentiate. Focus on who you serve instead of what you sell. The greatest experience you’ve had anywhere is the same experience you want everywhere.  If you are going to be building an organization with superior talent, you first must be conscious of the nature of the work. Be clear what excellence looks like in each position. You cannot motivate people, you can only demotivate them.  Commit to things that you believe will make a lasting impact.    "Your best employee is more important than your most important client." — Mark Tibergien    Connect with Mark Tibergien:    Twitter:   @MarkTibergien  Website:   www.pershing.com/biographies/mark-tibergien  Email:   mtibergien@pershing.com Book:  The Enduring Advisory Firm – Mark C. Tibergien and Kimberly G. Dellarocca LinkedIn: www.linkedin.com/in/marktibergien   Connect with Nathan Mersereau:   Phone: 248-645-1520  Website:www.dayinacanoe.com  Email: nathan@dayinacanoe.com  Twitter:@NathanMersereau  LinkedIn:Nathan Mersereau  Address: 36800 Woodward Avenue, Suite 200  Bloomfield Hills, MI 48304  uite 200

Carol broadcasts from BNY Mellon Insite 2018 in Orlando and he speaks to Jim Crowley, Chief Operating Officer at Pershing, on investing for future success. Jim McKelvey, Co-Founder at Square, talks about bliss and innovation. Mark Tibergien, CEO at Pershing Advisor Solutions, shares his work on financial literacy. Tom Sholes, Chief Strategy Officer at Pershing, discusses financial solutions and delivering a better advisor experience. Mark Aldoroty, Head of Prime Brokerage at Pershing, explains why to invest in alternatives. Charles Scharf, Chief Executive Officer of BNY Mellon, talks about what's important to watch in technology.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carol broadcasts from BNY Mellon Insite 2018 in Orlando and he speaks to Jim Crowley, Chief Operating Officer at Pershing, on investing for future success. Jim McKelvey, Co-Founder at Square, talks about bliss and innovation. Mark Tibergien, CEO at Pershing Advisor Solutions, shares his work on financial literacy. Tom Sholes, Chief Strategy Officer at Pershing, discusses financial solutions and delivering a better advisor experience. Mark Aldoroty, Head of Prime Brokerage at Pershing, explains why to invest in alternatives. Charles Scharf, Chief Executive Officer of BNY Mellon, talks about what's important to watch in technology. 

Mark Tibergien is Chief Executive Officer of Pershing Advisor Solutions, prior to which he was a principal at Moss Adams LLP. Mark has worked with hundreds of public and private companies on matters related to business management, transition planning and strategy formulation, since 1976. […] The post Mark Tibergien on Brand, Culture and Referability appeared first on Becoming Referable.

Mark Tibergien, CEO of Pershing Advisor Solutions, discusses advisory trends, the needs of high net-worth investors and the future of the financial services industry. Simon Roy, the president and CEO of Invesco's robo-adviser, Jemstep, talks about upending the wealth management industry and why the financial future lies with bionic advisers.

Mark Tibergien is the current CEO of Pershing Advisor Solutions, an advisement firm custodian to some of the wealthiest practices and clients in the world. Pershing is part of BNY Mellon, which oversees $33 trillion in assets globally. Mark was formerly a part of Moss Adams, where he pioneered the benchmarking studies that helped define and continue to shape the industry today. In this episode, you’ll hear about how Mark got recruited into the early financial planning world back when he was still an aspiring journalist. He then talks about how his benchmark studies at Moss Adams helped him become one of the foremost authorities on professional practice management. Mark also shares the four stages of an advisory firm’s lifecycle, and the key roles that great leadership and people skills play in the establishment of a successful firm. Get the full show notes and transcript for this episode at: https://www.kitces.com/5