Adviser Investments is underneath new govt management.
The Summit Associates-backed RIA announced on Tuesday that Mario Ramos will turn into its new chief government, replacing longtime CEO Daniel Silver. Silver, who co-started the now-$10bn RIA in 1994, took a leave of absence in August 2021 to ‘recharge his batteries.’ The firm’s basic counsel, Chris Mirick, stepped in as interim chief government at the time.
‘Mario is a robust leader, and the up coming leg of our journey has now begun as he assumes duty for our in general strategic route,’ said Adviser Investments chairman Dan Wiener.
Ramos (pictured) invested extra than two and a 50 % yrs as the chief monetary officer and chief risk officer at Edelman Fiscal Engines in the wake of the firm’s generation by means of mega-merger in 2018. There, he managed treasury, accounting, tax, and the company’s $2.9bn in publicly traded credit card debt. Ramos still left Edelman in October 2021 to join Evolv Technological innovation, a publicly traded protection screening and weapons detection enterprise, where he served as chief financial officer. He previously held operations and finance roles at the health care subsidiary of CVS.
‘Mario delivers sizeable experience in scaling consumer company organizations and constructing large-executing teams,’ stated Summit taking care of director Matt Hamilton, who sits on Adviser Investments’ board. ‘We are energized to spouse with Mario to keep on creating the enterprise by means of potent organic and natural expansion and selective acquisitions.’
Adviser Investments specializes in setting up product portfolios of mutual cash and ETFs. The agency was formerly backed by Fiduciary Network, a serial minority trader in RIAs, which exited in February 2021 when private equity company Summit Associates bought a bulk stake.
Considering the fact that the Summit deal, Adviser Investments has quietly shored up its M&A abilities by creating out an in-house corporate improvement crew. Ramos’ employ the service of will come on the heels of the firm’s first acquisition in about five yrs the company acquired Polaris Wealth Advisory Group, a $2bn RIA primarily based in San Rafael, Calif., in April.
‘Adviser Investments is on class to turn out to be a major 10 unbiased fiduciary, and I’m fired up to direct the business as we embark on a time period of quick enlargement,’ Ramos mentioned.