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

Podcast: Finra's controversial new proposal, plus the latest on LPL's Commonwealth pitch

5 days ago | citywire.com | Alex Steger |Ian Wenik |Sam Bojarski |Alan Walsh

Alex Steger, Ian Wenik and Sam Bojarski break down Sam’s feature on how a new proposal from Finra governing advisors’ outside business has some up in arms, discuss Ian’s latest scoop on LPL’s battle to retain Commonwealth advisors and look at the current balance of power among custodians. Already have an account? Do you personally advise on or manage investments for clients?
LPL trending towards 90% retention of Commonwealth advisors, CEO Steinmeier says

5 days ago | citywire.com | Ian Wenik

LPL Financial chief executive Rich Steinmeier said Thursday that the nation’s largest independent broker-dealer — despite a flurry of recruiting pushes from rivals — is still on target to retain roughly 90% of Commonwealth Financial Network’s advisors as it looks to close its acquisition of the $285bn business. ‘On balance, the transaction is going very well,’ Steinmeier (pictured) said during an earnings call discussing LPL’s results for the first quarter of 2025.
Raymond James RIA custody business makes bonus offers to Commonwealth advisors: sources

6 days ago | citywire.com | Ian Wenik

Raymond James is attempting to entice advisors from Commonwealth Financial Network who might be looking to leave ahead of Commonwealth’s sale to LPL Financial to join its RIA custody division with a specialized recruiting offer, according to sources with knowledge of the situation.
$600m gatekeeper goes on defense

6 days ago | citywire.com | Sam Bojarski |Tania Mitra |Alec Rich |Ian Wenik

As the markets dance around a potential recession and rapidly shifting developments from Washington, Brad Honer, director of investment services and product at American Bank, is playing defense. Honer (pictured) is a one-man-army overseeing $600m in assets. While he does have an approved securities list, investments from advisors are largely made via the 10 high-level models he curates.
Carlyle aims to bring PE strategy to wealth investors by 2026

6 days ago | citywire.com | Ian Wenik |Selin Bucak |Alec Rich |Jim Dickson

Carlyle is going to be launching its private equity strategy for wealth investors by early 2026, as CEO Harvey Schwartz positions the firm for further growth.
Anthony Stich joins $5bn Florida RIA as marketing head

6 days ago | citywire.com | Ian Wenik

Longtime RIA technology executive Tony Stich has joined Moran Wealth Management to serve as the $5bn Florida-based RIA’s chief marketing officer. Stitch (pictured) told Citywire that he began working at Naples-based Moran last week. He’ll report to Donald Drury, the firm’s president. For Stich, the move to Moran comes after he spent roughly a year as an executive managing director at MarketCounsel, a New Jersey-based RIA compliance consultancy and breakaway advisor transition assistance business.
$3bn SOL Capital Management pursuing sale: sources

1 week ago | citywire.com | Ian Wenik

SOL Capital Management, an internationally focused RIA with roughly $3bn in assets under management, is pursuing a sale, according to sources with knowledge of the situation. Houlihan Lokey is serving as SOL’s investment banker, sources told Citywire. Spokespeople for SOL and Houlihan Lokey did not respond to requests for comment by press time. Already have an account? Do you personally advise on or manage investments for clients?
Blackstone hires Lazard vet to lead RIA push

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

Blackstone Private Wealth has hired Lazard veteran Jennifer Abate in a newly created role as senior managing director and head of the asset manager’s RIA channel. Abate will lead the firm’s RIA expansion strategy, overseeing home office coverage and sales across the wealth division’s US offices. She is based in New York and will report to Joe Lohrer, head of Americas sales for Blackstone Private Wealth.
Exclusive: LPL CEO promises to keep Commonwealth culture, swipes at rivals

1 week ago | citywire.com | Ian Wenik

As part of LPL Financial’s all-out press to retain as many of the 2,900 advisors from acquisition target Commonwealth Financial Network, chief executive Rich Steinmeier has deployed a combination of promises of operational improvement and preservation of Commonwealth’s best characteristics alongside critiques of some of its biggest rivals, according to video presentations for Commonwealth advisors viewed by Citywire.
How a $1.6bn gatekeeper selects subadvisors and what he's searching for

1 week ago | citywire.com | Ian Wenik |William Johnson |Sam Bojarski

Private credit may be the most popular asset class going. And that’s one reason Liberty Street Funds CEO Timothy Reick is focusing elsewhere. ‘I think we’re going to pass on private credit for now, just because we feel it’s so crowded, it’s tremendously crowded. I’d say 70% of all filings on the interval or tender offer side are private credit,’ Reick (pictured) told Citywire.