- Eric Colson announced his transition from CEO to Executive Chairman, marking his last quarterly call after 50 calls since 2013.
- The firm emphasizes its long-standing investment-first culture, consistent results, and evolution in response to market and talent needs.
- Jason Gottlieb, the new CEO, highlights the firm's growth into a multi-asset platform and strategic focus on talent and client outcomes.
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- Doug Cifu announced retirement after 18 years, effective end of 2025.
- Aaron Simons, CTO for 20 years, will succeed as CEO, ensuring continuity of culture and strategy.
- Doug emphasized Aaron's technological expertise, strategic vision, and deep integration into Virtu since 2008.
- Transition to be seamless, with Doug remaining as an adviser for stability.
- Beacon is focusing on expanding assets under management (AUM) and integrating more closely with core business lines.
- The company hired a new Chief Growth Officer to enhance sales efforts and build a larger, more effective team.
- The strategy emphasizes building client retention and penetrating new markets, with no fundamental change in overall approach.
- Ameriprise is investing heavily in technology, digital capabilities, advanced analytics, and AI to enhance client experience and adviser productivity.
- Investments include intelligence dashboards, automation analytics, and a new Signature Wealth platform launched in June to manage client assets more holistically.
- Management emphasizes these investments as key to maintaining competitive advantage and adviser engagement, with productivity up 11% to $1.1 million per adviser.
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