Industry veteran Larry Roth has found himself another act — leading a wealth management consulting firm, New York-based RLR Strategic Partners, which will do M&A work with Berkshire Global Advisors.
Roth has served as head of Cetera Financial Group (2014-2016), its predecessor Realty Capital Securities (2013-2014), AIG Advisor Group (2006-2013) and ING Advisor Group (1991-2000). These posts entailed weathering the financial crisis and troubles tied to an accounting scandal and the subsequent bankruptcy of RCS’ parent company, RCS Capital.
“Earlier in my career, I was with ING Advisor Group, and that is now the core of Cetera. It’s a small world,” Roth said in an interview. “I’ve run firms during good times and in challenging times.”
“Now, I’m really taking my skills experience, expertise and contacts to work with leadership teams, boards, etc., and pulling it all together. This [new] work will focus primarily on already successful firms, broker-dealers, tech groups, wealth managers and private-equity groups that are in growth mode,” Roth explained. “I will help them identify ways to grow their businesses and streamline them.”
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Roth has logged more than 25 years of work in financial services. Recently, he was tapped for a seat on the board of the investment firm Oppenheimer & Co. He has a J.D. and an accounting degree, as well as Series 7, 24, 63 and 79 FINRA registrations.
Today’s Wealth Management Scene, M&As
How does he see the current climate for advisors and their practices?
“Because regulatory pressure seems to have eased a bit and the economy is strong, we have a bunch of alignments,” Roth said. “The equity markets are up, as are interest rates. There is massive private-equity capital and borrowing available, so firm valuations continue to increase.”