Dakota Rainmaker Podcast Dakota Team

Join Pat and Konch as they guide you through the latest job shifts and role changes across the financial industry, including notable moves to Jordan Park and Cresset. The episode progresses to examine substantial mergers and acquisitions within the RIA/FA sector, featuring LPL Financial’s creation of Sussex Wealth Partners and Cresset’s expansion in San Francisco. The discussion then pivots to institutional investments, highlighting recent fund allocations by large pension funds and the launch of Monomoy Capital Partners Fund V.

In this episode, Pat and Konch discuss recent key job and role changes across the financial landscape, highlighting moves to TSG Wealth Management, Gries Financial Partners, and others. They also delve into significant mergers and acquisitions in the RIA/FA sector, featuring Steward Partners’ strategic expansion and Stifel Financial’s acquisition of a top advisory team. The discussion then transitions to institutional coverage, exploring new fund launches and investment decisions by prominent pension funds like the Louisiana State Police Retirement System and the Virginia Retirement System. Stay tuned for a comprehensive look at how these moves are shaping the financial services industry.

In this episode of the Rainmaker Podcast, hosted by Gui Costin, we delve deep into the intricacies of sales strategies and leadership in the financial sector, featuring Phil Shankweiler, Managing Director at Starwood Capital. The episode kicks off with an introduction to Dakota Marketplace, a comprehensive database designed to streamline the fundraising process for investment opportunities.

Phil Shankweiler shares his extensive background in sales and distribution, beginning with his early career at Hartford Funds and his pivotal role during the financial crisis. His journey from managing internal sales to leading significant fundraising initiatives provides a foundation for his current role at Starwood Capital, where he focuses on Private Wealth Solutions. Shankweiler's experience at PLANCO, a dedicated distributor and marketing firm, significantly shaped his approach to sales, emphasizing the power of storytelling in investment value communication.

Throughout the conversation, Shankweiler discusses the evolution of his career and the sales strategies that have stood the test of time. He highlights the importance of aligning sales narratives with client needs and the critical role of resilience in sales. His transition to Starwood Capital marked a strategic move to leverage his expertise in building and managing sales teams focused on the Registered Investment Advisor (RIA) channel.

The podcast explores the characteristics of the RIA channel, which differs markedly from traditional institutional channels due to its unique decision-making processes. Shankweiler outlines the strategic approach necessary for success in this space, including the recruitment and development of talent specifically skilled in investment knowledge and client communication.

Further, the episode delves into the operational strategies at Starwood Capital, where Shankweiler leads a team dedicated to RIA engagement. He discusses the segmentation of markets, the challenges of gaining access to top-tier advisors, and the utilization of events and personal outreach to build relationships and present Starwood’s investment capabilities.

In discussing the sales process, Shankweiler emphasizes the importance of structured communication and regular team meetings to align on goals, strategies, and the nuances of client interactions. He advocates for a comprehensive understanding of the sales funnel from prospecting to closing deals, underscoring the use of CRM tools to enhance efficiency and effectiveness.

The episode concludes with Shankweiler sharing insights on leadership, emphasizing the need for a clear perspective and the ability to simplify complex concepts. His advice to young sales professionals stresses the lifelong commitment to learning and adapting to the evolving landscape of financial services.

This insightful discussion not only sheds light on Shankweiler’s strategic approach to sales and leadership but also provides valuable lessons for sales professionals in any field looking to enhance their effectiveness and impact.

Join Pat and Konch as they delve into recent pivotal job changes and mergers and acquisitions shaping the landscape of institutional and private wealth management. The episode kicks off with important executive movements, including the  CIO of Radnor Capital and Matt Dmytryszyn’s appointment at Miracle Mile Advisors. The discussion then shifts to significant mergers, highlighting LPL Financial’s addition of a top-tier advisory team and Apella Capital’s strategic acquisition of ClearLogic Financial. Wrapping up, the hosts explore institutional investment strategies and new fund launches, including notable commitments by the University of Alabama System Endowment and innovative fund strategies by Taconic. This episode offers an in-depth look at the dynamic shifts within the financial services industry.

Dive into the latest executive moves and major investments in the financial sector on this episode. Discover leadership changes at Wealth Enhancement Group and J.Paul Getty Trust, new acquisitions by Waverly Advisors and Stratos Private Wealth, and significant funding shifts in institutions like the Michigan State Investment Board and Orange County Employees’ Retirement System. Plus, get insights into new fund launches including Coller Capital’s innovative secondary private equity fund.

In this enlightening episode of the Rainmaker Podcast, Gui Costin hosts Jonathan Kingery, Senior Vice President and Head of US Wealth Management Sales at Franklin Templeton, offering a deep dive into the strategies that have shaped his successful career in investment sales. Kingery shares his journey from a financial advisor to a leadership role, emphasizing the unconventional paths that can lead to success in the financial industry. His insights are particularly valuable for those in investment sales, as he discusses the importance of adaptability and strategic pivots in one’s career.

Kingery’s approach to leadership and team management is a central theme, focusing on effective communication and the structured use of CRM systems to enhance client relationships and operational efficiency. He stresses how a well-implemented CRM system is not just a tool but a crucial asset that can transform the way a company interacts with its clients and manages internal processes.

For investment sales professionals, Kingery's detailed discussion on the integration of technology in sales processes, and his strategic outlook on team structure and client interaction provide actionable strategies that can be applied to optimize sales performance and client engagement.

This episode is a must-listen for anyone in the field of investment sales looking to gain insights from a seasoned leader on building a successful sales strategy, leveraging technology, and leading a team effectively in the ever-evolving landscape of financial services. Kingery’s experiences and advice offer valuable lessons in enhancing sales techniques and improving team dynamics.