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In the 21st episode of The COO Roundtable, Matt welcomes Chris Keller, Executive Vice President and Director of Business Services at Benjamin F. Edwards & Company and Doug Johnson, newly appointed Chief Operating Officer at Parcion Private Wealth. The Benjamin F. Edwards & Company brand dates back 130 years, and the company is headquartered in St. Louis, Missouri with more than 600 employees and advisor affiliates and assets totaling about $27 billion. Parcion Private Wealth opened its doors in October 2019 and is headquartered in Bellevue, Washington with 16 employees and about $1.2 billion in assets under management. Matt, Chris, and Doug discuss a number of topics, including integrating their technology stack with different vendors, how their firms leverage that technology to provide outstanding client service, and much more including:
- Overview of their respective firms and their professional backgrounds, including a funny moment regarding Chris’ LinkedIn bio
- The challenges both Chris and Doug have faced when looking to move their businesses toward the RIA model
- An interesting conversation about when to hire a COO at an RIA
- The value professional management brings to the wealth management space, specifically
- Their firms’ respective views and goals regarding inorganic vs. organic growth
Related: How A COO Maintains the Human Element of an Advisory Firm