Investacorp, an independent advisory and brokerage (IAB) firm and wholly owned subsidiary of Ladenburg Thalmann Financial Services, has launched its Multigenerational Consulting Solutions (MCS) platform.
The firm also appointed Chris Yarosh to the newly created role of director to lead this new platform. Yarosh served in a variety of adviser-facing senior management positions at Investacorp, including, most recently, in compliance operations and adviser services. He has a business administration degree from the University of Florida in finance and insurance, and holds securities licenses in series 7, 24 and 66 and a 2-15 in the state of Florida.
The Multigenerational Consulting Solutions platform encompasses the following key services:
- Long-range practice management consultations to develop and implement succession planning for practices with three to six years of runway to become multigenerational businesses, or extend multigenerational leadership to a subsequent generation
- Short-range practice management consultation services to develop and support succession plans for businesses with less than three years of runway
- Educational workshops that align training resources and top industry experts with independent advisors at each stage of the multigenerational family practice life cycle, from those just starting to explore the possibility of a next-generation transition, to businesses that already encompass two or more generations of family
- Adviser mentoring and peer coaching programs that facilitate the ability of independent advisers at earlier stages of the multigenerational family business life cycle with those who are in more advanced stages
Investacorp further reported that 42 percent of the firm’s top 20 percent (by client assets) independent adviser businesses are already multigenerational family businesses, defined by the firm as having individuals representing two or more generations of the same family with an ownership stake and active working positions in the same practice. Additionally, based on internal surveys conducted by Investacorp, the majority of the remaining 58 percent of this segment of adviser businesses have voiced a strong interest in potentially moving to a multigenerational family structure in the future.
