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PFI Advisors Examines Role of CEO in Successful RIAs


LOS ANGELES, May 4, 2021 /PRNewswire-PRWeb/ — Continuing its efforts to support the development of professional management within the RIA industry, PFI Advisors is today releasing a new industry report (the tenth in its continuing educational series) focused on the role of the Chief Executive Officer. The report, “Exploring the Benefits of Professional Management for RIAs: A Deeper Look into Chief Executive Officers”, examines how CEOs allocate their time, how they leverage their executive teams to accomplish myriad necessary daily tasks, and Key Performance Indicators they use to constantly monitor the health of their organizations.

“As RIAs continue to grow and achieve higher AUM levels, they will need to round out their C-suite with more focused roles,” said Matt Sonnen, Founder & CEO of PFI Advisors. “It's no secret that RIAs struggle with their processes as they add more clients over time, and it is our experience that at some point in the evolution of the firm, professional management will be needed to take the firm to the next level.”

PFI Advisors' report highlights six primary benefits CEOs deliver to their organizations:

1.    Vision and Organization
2.    Delegation of Responsibilities and Empowerment of Key Staff to Achieve Scale
3.    The Right Culture and Values
4.    Processes and Systems to Implement Them
5.    Building a Network of Advisors and Mentors
6.    The Firm's Brand

The report also profiles five successful RIA CEOs at the helm of multi-billion-dollar enterprises: Adam Birenbaum of Buckingham Strategic Wealth, Jeff Concepcion of Stratos Wealth Partners, Heather Fortner of SignatureFD, Jamie Rooney of Corient Capital Partners, and George Stapleton of RegentAtlantic.

These CEOs provide real life examples of their work and how it has allowed their respective RIAs to evolve and remain competitive. Fast-growing RIAs that add professional management free advisors from administrative tasks allowing them to focus on new business opportunities while the Chief Executive Officer manages the firm's long range strategic plan. The research concludes that RIAs cannot pursue successful organic or inorganic growth strategies without a competent CEO at the helm.

With this report, PFI Advisors hopes to shed light on the crucial work that CEO's do on a daily basis and further validate the benefits that professional management can provide to RIAs. “We are extremely appreciative of the Chief Executive Officers who supported this research and are excited to offer the industry the opportunity to benefit from their experience and wisdom,” Sonnen said.

To read the full report, click here.

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About PFI Advisors

PFI Advisors (“Promoting Financial Independence”) was founded in 2015 with the following mission in mind:

To further evolve the RIA industry from a collection of practices to businesses, and to be a continued voice in validating the industry as a legitimate landing spot for billion-dollar teams and their clients.

PFI Advisors is an operational consulting firm that supports the unique back office, technology, and operational needs of RIAs in growth mode. PFI Advisors conducts Technology Assessments, manages Technology Conversions, and provides M&A Preparation and Integration Services to RIAs seeking growth support. The firm announced the launch of COO Resource in January 2018, an ongoing retainer-based service in which RIAs and their Chief Operating Officers can leverage the knowledge and expertise of PFI.

Through its popular podcast The COO Roundtable and the soon-to-be released digital consulting platform The COO Society, PFI Advisors strives to educate the RIA industry on how to build more impactful and profitable enterprises. For breakaway advisors, PFI Advisors manages full RIA set up and transition to Independence, including office buildout, RIA infrastructure development, client transition, and billing services – all for a simple consulting fee. There is no complicated long-term AUM fee structure or equity stake required to build the firm's future and provide advisors financial independence.

Media Contact

Sandra Saldana, PFI Advisors, +1 (424) 336-9755, [email protected]




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