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Verdence Capital Advisors, a Maryland-based registered funding advisory agency serving enterprise homeowners, sports activities and leisure professionals, rich households and multigenerational households with about $3.3 billion beneath administration, unveiled its up to date turnkey service platform for different RIAs this week.
Previously Verdence/OCIO, the brand new identify, look and web site spotlight an enlargement of companies designed to help development and succession for solo practices and small- to mid-sized corporations.
Verdence/RIA+ will proceed providing funding administration—together with entry to personal markets, analysis, instructional content material and due diligence—together with a slate of recent companies, together with continuity and succession planning, monetary planning sources, compliance help and a again workplace.
“The transformation from Verdence/OCIO to Verdence/RIA+ is a lot greater than a reputation change,” Verdence CEO Leo Kelly mentioned in an announcement. “It embodies our dedication to evolving alongside our purchasers and the transition of this a part of our enterprise from an OCIO options supplier to a full-service RIA extension.”
“Among the many necessary additions to this system are continuity and succession planning,” mentioned Peter McGratty, who joined Verdence in November to supervise the event and enlargement of the platform. He was named director of Verdence/RIA+ in February.
“Advisors do such job serving to purchasers plan for the sudden and for his or her retirement, however usually don’t spend the time planning for their very own circumstances,” he mentioned. “That is changing into critically necessary as advisors look to retirement. … If the query of what comes subsequent is an open one, that may be a problem we’re uniquely outfitted to fulfill.”
Earlier than Verdence, McGratty was a managing companion at Precursor Asset Administration, following over 12 years as vice chairman of strategic partnerships for Pinnacle Advisor Options, a agency he helped present in 2009 that was offered to Congress Wealth Advisor Options in early 2021.
“We engaged Peter in mid-2023 and have been impressed by his expertise, ardour, and imaginative and prescient accretive to our current OCIO platform,” Kelly mentioned. “Peter joined our workforce and we instantly started detailing and constructing the expanded providing.”
Backed by Emigrant Companions and majority owned by Kelly, who based the agency in 2017, Verdence Capital Advisors manages greater than 6,000 consumer accounts for nearly 1,500 households, greater than a dozen charities and retirement plans, and 46 different corporations that account for simply over 5% of whole belongings managed, in response to its most up-to-date ADV submitting.
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