Ritholtz Wealth Taps Vanguard Veteran as New President

Ritholtz Wealth Management (RWM) has hired industry veteran Jay Tini as its new president. Tini, who served recently as a divisional sales manager at Vanguard, will join the New York registered investment advisor on Jan. 1.

In the newly created role, Tini will support the overall business and the founding partners: Josh Brown, CEO; Barry Ritholtz, chairman and chief investment officer; Kris Venne, managing partner; and Michael Batnick, managing partner, the firm announced today.

Tini will manage the firm’s day-to-day operations, allowing the founding partners to offer insightful market commentary, analysis, perspective, financial advice and investment management, according to a press release.

Tini was a critical part of the Vanguard leadership team that oversaw the firm’s RIA business and brings more than 20 years of RIA and asset management experience to his new position. He previously served as a director at global asset management firm AllianceBernstein, according to RWM, which had $2.8 billion in client assets under management as of this past Friday.

“This team does not need me to come in and help them grow the business; they have that well in hand,”  Tini said. “They’ve assembled an amazing content and thought leadership empire, backed by sound behavioral investment advice that doesn’t require an advanced degree in finance to understand. I believe I can add value as an operator, freeing the team to achieve the best possible outcomes for clients and strategically build toward the future. My primary goal is to preserve and build upon the identity, fabric and culture of the firm that the partners have built.”

“As our business has grown, so too has the opportunity set,” Brown added. “Bringing on a proven leader who understands what makes our firm special was the natural next step. Jay will be focused on the critical operational areas of the firm while the rest of us focus on our strengths and serving our clients.”

Ritholtz added: “It takes time to build trust and we’re not an easy group to impress. Jay has been a good friend for a long time. We are a close-knit family doing what we love and enjoying every minute of it. He’ll fit right in.”

 “Our firm has been philosophically aligned with Vanguard since the beginning. It’s one of the firms in our industry we admire most. Jay’s experience and relationships will help us continue on this path,” Brown said.

Tini holds an MBA from Drexel University’s LeBow College of Business and a B.S. in Finance from Boston College.

(Shown in image: Ritholtz Wealth leaders Michael Batnick, Chris Venne, Josh Brown and Jay Tini; photo by Ritholtz Wealth Management/Duncan Hill)