PFI Advisors (“Promoting Financial Independence”) announced today the release of a new industry report (the sixth in its continuing educational series) on an often overlooked topic facing independent RIAs: how to leverage professional management – namely, a Chief Operating Officer – to manage the day-to-day business responsibilities. Our research details the importance of COOs to the success of RIAs’ organic and inorganic growth initiatives as we profile 5 successful COOs of billion-dollar RIAs including Avalon Advisors, Coastal Bridge Advisors, LourdMurray, Sand Hill Global Advisors, and Sequoia Financial Advisors.
Widely viewed as a cost center rather than a revenue generator, our research highlights the growth opportunities COOs unlock for RIAs once the owners of the firm can focus their time and energy back on business development and client service, rather than the day-to-day running of the firm.