LLR Engages Neal Simon as Senior Operating Advisor to Support RIA Investment Strategy

August 1, 2023

LLR has engaged Neal Simon as a Senior Operating Advisor. Neal will leverage insights from more than 20 years in the financial services industry to help LLR identify, evaluate and manage new investment opportunities with Registered Investment Advisors (“RIAs”) and service providers to the wealth management industry.

Neal brings a combination of strategic and leadership experience in wealth management. Previously, he served as Founder & CEO of Highline Wealth Management, a Maryland-based RIA which he grew to $1.4B in assets under management (“AUM”), as of 2015¹, before merging with Bronfman Rothschild. Neal became CEO of the combined Bronfman Rothschild business and grew it to $6.0B in AUM, as of 2019², up from $3.6B at time of merger³. Bronfman Rothschild was acquired by NFP Corp. Neal currently serves on the Board of two RIAs, Savant Capital (Rockford, IL) and Exencial Wealth Management (Dallas, TX).

“Neal is an experienced operator, Board member and advisor to the wealth management industry. His success as a CEO, and now Board member and advisor, provide an informed perspective that we can leverage to identify and partner with an RIA.” said Sam Ryder, Principal at LLR Partners.

“We believe the RIA market is an attractive space for investment given its strong fundamentals, underlying market tailwinds, and benefits that come with being part of a larger RIA platform, including working with a private equity partner to help accelerate growth and increase scale through M&A,” added Mitchell Hollin, Partner at LLR Partners. “We are excited to partner with Neal as an advisor as we continue LLR’s 20+ year history of investing in the financial services industry and supporting growth companies with top tier management teams.”

LLR is focused on partnering with an RIA firm with the following characteristics:

• $1B – $10B+ of assets under management
• History of organic growth
• Experienced management team with infrastructure to support M&A

The firm’s investments in the wealth management space includes Archer, PCS Retirement, Ultimus Fund Solutions and YCharts.

For more of LLR’s perspective on the RIA space, check out our GrowthBit highlighting how Registered Investment Advisor (RIA) Market Dynamics are Accelerating Growth and M&A Opportunities.

Learn more about the LLR team, relevant investments and our focus on the RIA platform model.

References

1- Highlight Wealth Management, Form ADV, 2012, https://files.adviserinfo.sec.gov/IAPD/content/viewform/adv102012/Sections/iapd_AdvAdvisoryBusinessSection.aspx

2 – Charles Paikert, “M&A blockbuster: NFP buying Bronfman Rothschild.” Financial Planning, 2019, https://www.financial-planning.com/news/nfp-buying-bronfman-rothschild

3- “Wealthspire Advisors Predecessor Bronfman E.L. Rothschild Acquires Highline Wealth Management.” Welathspire Advisors, 2015, https://www.wealthspire.com/news/bronfman-e-l-rothschild-acquires-highline-wealth-management/