Ian Wenik

New York

Editor at Citywire RIA

Editor of @Citywire's @CitywireRIA, covering RIAs. Penn Quakers coverage @IvyHoopsOnline. Simpsons quoter.

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Articles

Here's how KKR's wealth chief plans to scale its platform

2 days ago | citywire.com | Sam Bojarski |Tania Mitra |Andrew Foerch |Ian Wenik

If step one of bringing private assets to the wealth space was product development, KKR is ready to steam ahead on step two: scaling. When Doug Krupa, the firm’s head of global wealth solutions in the Americas, joined the firm six years ago, the US business had only five employees; that has grown to about 70 today. Globally, there are more than 100 personnel dedicated to wealth. KKR’s wealth AUM via its K-series is $22bn.
Podcast: Orion plays board games, SEC goes for Jenga, Atria says Sorry!

1 week ago | citywire.com | Alex Steger |Ian Wenik |Sam Bojarski |Alec Rich

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Top Wilshire gatekeeper looks to RIAs for alts expansion

1 week ago | citywire.com | Sam Bojarski |Tania Mitra |Andrew Foerch |Ian Wenik

Wilshire’s head of alternatives manager research, Mark Perry, is looking to RIA partnerships as private assets veer towards individual investors. In its 28-year history, Wilshire’s alts platform has mostly serviced ‘large, sophisticated’ institutional clients. And while that is still the bulk of the business, Perry told Citywire that the growth of private assets for retail clients cannot be ignored.
Focus seals deal for $9.4 Churchill Management Group

1 week ago | citywire.com | Ian Wenik

RIA financier Focus Financial Partners confirmed Thursday it has agreed to acquire Churchill Management Group, a Los Angeles RIA with roughly $9.4bn in assets under management, and merge the firm into its largest affiliate, Focus Partners Wealth. Specific financial terms of the deal, which is expected to close in the third quarter of 2025, were not disclosed. Citywire first reported in March that Focus had held acquisition talks with Churchill Management Group.
Longtime Focus executive Molly Bennard exits amid international retreat: sources

1 week ago | citywire.com | Ian Wenik

Longtime Focus Financial Partners executive Molly Bennard, who most recently led the RIA financier’s international operations, has left the company, according to sources with knowledge of the situation. Bennard (pictured) and a Focus spokeswoman did not immediately respond to requests for comment. A longtime corporate strategy and M&A executive, Bennard joined Focus in 2015 and helped lead business development and acquisition activity across the Northeast for the New York City-based company.
‘Toe-to-toe with any other firm’: LPL CEO is adding alts to take on wirehouses

1 week ago | citywire.com | Ian Wenik |Eva Thomas |Andrew Foerch |Sam Bojarski

The chief executive of independent brokerage giant LPL Financial has ambitious plans for the firm’s alternative investing capabilities this year.
Bain and Carlyle made unsuccessful bids to invest in $30bn Lido Advisors: sources

1 week ago | citywire.com | Ian Wenik

Private equity giants Bain Capital and The Carlyle Group both bid to invest in Lido Advisors during the Los Angeles wealth manager’s formal capital raise process, according to sources with knowledge of the situation. Sources told Citywire Bain’s and Carlyle’s bids assigned a lower valuation to Lido than the ultimate winning bid from HPS Investment Partners, a credit manager which is in the process of selling itself to BlackRock.
Orion removes founder Eric Clarke from board, along with ex-Redtail and Brinker CEOs

2 weeks ago | citywire.com | Ian Wenik |Andrew Foerch

RIA technology giant Orion has removed founder and former chief executive Eric Clarke from its board of directors, along with the ex-CEOs of two of its biggest acquisitions. Clarke (pictured), ex-Redtail Technology CEO Brian McLaughlin and ex-Brinker Capital CEO Noreen Beaman have all been reassigned to serve on an advisory council. Clarke, McLaughlin and Beaman have all reflected the changes in their LinkedIn profiles, which indicate they left the Orion board in April.
Podcast: How a Mercer deal in Georgia went south, plus RIAs return to the office

2 weeks ago | citywire.com | Alex Steger |Ian Wenik |Andrew Foerch |Sam Bojarski

Alex Steger, Ian Wenik, Andrew Foerch and Sam Bojarski discuss Mercer Advisors’ latest salvo in a sprawling legal battle related to ACG Wealth, an acquisition it made in 2021, but which has since soured into acrimony. They also explore Citywire’s exclusive research on RIAs’ working habits and find out what happened in Vegas (where Ian went to report on Osaic’s NXT conference). Already have an account? Do you personally advise on or manage investments for clients?
PE firm Aquiline exploring sale of $238bn SageView Advisory Group: sources

2 weeks ago | citywire.com | Ian Wenik

Private equity firm Aquiline Capital Partners is exploring a sale of SageView Advisory Group, a wealth and retirement plan manager with approximately $238.5bn in assets under management, according to sources with knowledge of the situation. Sources told Citywire that Aquiline has retained Moelis to serve as its financial advisor as it evaluates its options for SageView. Aquiline may ultimately choose to not move forward with a sale process.