Tech-advisor hybrid Side Wealth is increasing its management crew with the addition of Paul Marino as head of advisor partnerships, in keeping with a Side spokesperson. A former gross sales director at Russell Investments, Marino has an 18-year background in asset administration and gross sales.
At Side, Marino might be answerable for sharing the agency's enterprise mannequin of taking low-revenue purchasers off of the palms of RIAs which might be inquisitive about promoting off elements of their books of enterprise. Based on one estimate, the startup might service round 400 purchasers per advisor, utilizing a mix of expertise and distant advising. However spreading that message to RIAs might be one of many chief obligations for Marino, who's accountable for establishing "enduring and value-aligned partnerships with advisors in search of an efficient, accountable referral vacation spot," in keeping with a press release issued by Side.
“I’m excited to indicate excessive internet value practices how we complement and companion with them to enhance their total valuations," defined Marino. "We're serving to fellow RIAs and bettering shopper outcomes on the identical time.”
Shopping for up RIAs' low-revenue or money-losing purchasers is a win-win for each Side and its RIA companions, he stated. "Side Wealth has the instruments to unravel one of many greatest ache factors of rising companies—responsibly serving purchasers and prospects who might not meet an RIA’s minimums."
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