Why Rise Growth Partners Favors Middle-Market RIAs

“Middle-market firms in the $3 to $10 billion range can implement change more nimbly than larger firms,” Duran said. “Rise’s strategy is about being the ultimate growth partner for growth-oriented middle-market RIA firms that have what it takes to go national.”

Kent Skornia, founder and CEO of Krilogy, noted by email that the firm’s five-year strategic plan wraps up next fall.

“We’re on track to hit our goal of $5 billion in assets under management,” Skornia said. “We’re already around $4.3 billion today. With Rise as our partner, I feel confident we can double or even triple that over the coming years.”

While both executives said they couldn’t be more optimistic about the future, they also plan to be methodical and uncompromising about protecting a culture of long-term thinking.

“We’ve done over 20 acquisitions or tuck-ins so far, and with Rise’s expertise and capital, we’ll have even more opportunity to pursue both organic and inorganic growth,” Skornia said. “We’ll also continue expanding equity opportunities for our advisors and leadership team, which is an important part of building a sustainable, ownership-driven culture.”

Here are highlights from our discussion, edited for length and clarity.

THINKADVISOR: Your announcement describes Rise’s latest strategic minority investment in Krilogy as a “long-term partnership.” When you think about the time it takes for a firm like Krilogy to reach the next level, what does that look like?

JOE DURAN: When we partner with a firm like Krilogy, we’re thinking in years, not quarters. This is a multi-year journey to help them become a national firm. The next phase for Krilogy includes expanding their advisor training programs and scaling their “Diamond structure” — where one partner leads a team of three to four wealth managers — as they grow geographically.

We’ll be measuring progress not just by assets under management or revenue, but by the depth of leadership, advisor development and the firm’s ability to grow both organically and inorganically. A key part of that will be continuing to attract and train top advisory talent and expanding their reach through thoughtful recruiting while maintaining the culture that makes Krilogy special.

They’re also investing heavily in technology and AI, something middle-market firms in the $3 to $10 billion range can implement more nimbly than larger firms with legacy systems or smaller firms without the resources. Our role is to help them execute on those opportunities while staying true to who they are.

THINKADVISOR: How important was Krilogy’s history of strong organic growth in Rise’s decision to back the firm? And what about its commitment to advisor mentorship and its development of in-house experts on estate planning and tax services?

DURAN: That was critical. While Krilogy itself is a well-established and growing firm, what really stands out is the youth and energy of its advisor base. They’ve built a strong growth engine and a deep bench of emerging advisors who are hitting their stride. What impressed us most is how intentional they’ve been about mentorship and developing specialists — lawyers, tax professionals and planners — all under one roof.

For advisors in the Midwest who don’t want to sell to a large coastal firm but still want scale, Krilogy offers a perfect solution. Kent and his leadership team have done a phenomenal job attracting talent and pairing younger advisors with retiring ones, creating continuity and a sense of shared purpose.

They’ve also overinvested in leadership and infrastructure, which positions them for national expansion much faster than most peers.

THINKADVISOR: What stands out to you about Krilogy’s brand and its guiding principle of “the art of accomplishment”?

DURAN: Krilogy is truly dedicated to helping advisors become better advisors. Their brand is grounded in education, mentorship and a holistic approach to serving clients. They’ve broadened their offering into family office services and more sophisticated investment strategies — so advisors joining them are learning to deliver a deeper, more meaningful relationship with their clients.

They’re especially strong with emerging executives and entrepreneurs — people who value accomplishment in every sense of the word. What Krilogy stands for really resonates with us. Their principles align perfectly with Rise’s belief in building firms that combine purpose with performance.

THINKADVISOR: How would you summarize the progress that Rise has made in 2025 and your hopes for 2026? Could anything derail the momentum?

DURAN: 2025 has been a year of execution and learning. One of the biggest lessons was the importance of bringing an entire management team into the process early — not just the C-suite. When everyone is part of shaping the vision, the partnership starts stronger.

We’ve also been proving out the Rise model in real time, and you can see that clearly in the success of OnePoint. Their rebrand, major advisor recruiting wins, the transition pipeline for advisors from 1099 to W-2 and the growth in AUM all demonstrate how powerful this partnership model can be. We’ve started to show that the system works, and now we’re excited to keep applying it across our growing portfolio.

We also worked with Krilogy and others to build out five-year business plans before closing the transaction. That gives everyone confidence. Our partners see exactly where they are, where they’re going and how we’ll get there together.

For 2026, our focus is on helping our current partners execute, build out their technology and move from dependence on Rise toward interdependence and ultimately full independence. Within three to four years, these firms won’t need us to grow, and that’s the point.

THINKADVISOR: Finally, what’s next for Rise? How are you thinking about new investments and the evolving minority investment space?

DURAN: We still have ample runway for additional partnerships, but we’re very deliberate about alignment. We never want to be in a position where our vision and a partner’s vision diverge. Strategy drives everything.

We’re particularly interested in firms led by Gen X and Gen Y advisors. We’re interested in next-generation firms that are growth-minded, tech-enabled and culturally cohesive.

The minority investment space has become crowded, with a lot of firms telling the same story. What differentiates Rise is that we’re not acquiring firms for the sake of scale. We take the time to provide true advice — real partnership and strategic guidance — not just capital.

A lot of firms say they do this, but very few actually follow through. We’re building an ecosystem of truly independent, future-ready firms, not a network of subsidiaries.

THINKADVISOR: Kent, can you offer some additional detail about the firm’s commitment to advisor mentorship and the way it has developed in-house expertise in estate planning and tax services?

KENT SKORNIA: From day one, our mission has been to develop talent in this industry. When I founded Krilogy back in 2009, we were a young organization that had to do everything ourselves. That built the DNA of who we are today. We’ve always believed that our most important investment is in our people.

We created the Krilogy Advisor Development System to formalize that commitment. It’s a structured program designed to help young advisors learn, grow and build meaningful careers. Over the years, senior advisors have seen the investment we’ve made in our people and platform, and many have chosen to join us. Often, we’ll acquire their practices and match them with rising advisors so clients enjoy a seamless experience.

That focus on development extends to our technical expertise as well. We provide in-house tax services, and we have an affiliated law firm that handles estate planning. Having those capabilities under one roof ensures our clients receive fully integrated, holistic advice.

THINKADVISOR: What’s one thing that makes you optimistic about the future of wealth management and your firm’s role in serving more clients who need help? What’s one thing that worries you?

SKORNIA: What makes me most optimistic is how fast the industry is evolving, especially with technology and AI creating new ways to enhance the client experience. I think firms like ours, that have both the agility to adopt technology and the human focus to apply it meaningfully, are in a great position.

I’m also encouraged by the next generation of advisors. Our average advisor skews younger, and they’re passionate about building real relationships with clients, not just managing money. That gives me tremendous hope for the future.

What worries me is that as the industry consolidates, some firms may lose sight of the end user — the client. That’s why our partnership with Rise is so important: They share our obsession with building something beautiful and sustainable that always puts the client experience first.

Pictured: Joe Duran