How a COO Can Benefit a Growing RIA

How a COO Can Benefit a Growing RIA

By: Marlene Satter

11/2/2018

Independent RIAs can derive benefits they may not have realized by leveraging a chief operating officer to manage day-to-day responsibilities.

So says the sixth in a series of industry reports from PFI Advisors, a firm that works with billion-dollar breakaway teams to establish their own RIAs. The report says that although RIAs generally regard COOs as cost centers and not revenue generators, leaving the management of ordinary activities to COOs frees up RIAs to focus on business development and client service.

It also quotes Yosef Colish, managing director of Leah Yosef International Inc., saying, “Hiring the right COO is also critical for firms seeking growth through acquisition. The right COO will run the entire process, ensuring a smooth transition for not only clients, but the entire back office, understanding where there are synergies and where efforts are duplicative,” adding, “Have a leader who can run this process makes any transition a more palpable reality for both firms in an M&A transaction.”

Read more: https://www.thinkadvisor.com/2018/10/29/how-a-coo-can-benefit-a-growing-ria/?kw=How%20a%20COO%20Can%20Benefit%20a%20Growing%20RIA&et=editorial&bu=TA&cn=20181029&src=EMC-Email&pt=DailyWire

Leah Yosef International is the Private Wealth and Investment Management search division of Sanford Rose Associates, recognized by Executive Search Review as being one of the Top 10 Search Firms in North America with 90+ Offices worldwide. To learn more, please reach out to your Leah Yosef International executive search consultant today. Schedule A Consultation