Page 38 - Investment Advisor November 2022

Kay Lynn Mayhue panies like Colony, it says. The firm also aims to launch a Net
Merit Financial Advisors President Kay Lynn Positive Pledge, which entails improving the well being of
Mayhue, CFP, AE, RFC, is “committed to sup- everyone it impacts, along with its local communities and the
porting diverse voices, experience and exper- environment.
tise,” the firm says. Over 54% of Merit’s staff is
female, and Mayhue has overseen four acquisitions of advisory George Nichols III
firms founded by women. She’s also helped build a leadership As the first Black president and CEO of
training program for female advisors and speaks regularly at The American College of Financial Services,
industry events. George Nichols III is focused on how The
As part of her work spearheading growth initiatives at College “can further expand on its goals
Merit, she advises financial professionals with the firm, and efforts to address economic injustice in America,”
which says they “have achieved exponential growth as they the organization says. Thus, its missions are: “driving the
leverage her expertise and industry connections.” Recently, industry to increase DE&I; building new pathways to con-
Merit added several advisor groups via acquisitions, sup- nect and serve underserved communities; and revolution-
ported in part by a minority investment in the firm made izing the distribution of financial education for broader
in late 2020 by Wealth Partners Capital Group and a group reach and greater consumption among financial profes-
of strategic investors led by HGGC, leveraging its Aspire sionals and consumers.”
Holdings platform. Under his leadership, The College recently introduced the
inaugural cohort of its Black Executive Leadership Program,
Sonya Mughal which brings together 23 aspiring Black financial services
Bailard CEO Sonya Mughal, CFA, has been leaders, along with 13 corporate sponsors. Nichols also over-
with the firm for more than 28 years and took saw the development of the Know Yourself, Grow Your Wealth
the helm in April 2021 as part of a multi-year program, which seeks to bring financial education and knowl-
transition process. As of March 2022, the firm edge from The College and its experts to underserved com-
was majority owned, 60%, by about 50 current employees. munities in the U.S.
Bailard says its wealth management client retention was 98%
as of December 2021, and that its team has been integrating Bob Oros
ESG into its strategies for six-plus years. Hightower CEO and Chair Bob Oros has
Mughal is closely involved in Bailard’s hiring process. Of the led three key developments, the firm says:
firm’s roughly 70 employees, 42% are women, and 10 hail from the launch of Hightower National Trust
countries outside of the U.S. “Her ability to create an inclusive Company; its investment in Grant Tani
culture at Bailard has preempted industry trends and been a Barash & Altman, a business management provider; and
driving factor behind Bailard’s successful recruitment of top the buildout of Business Owner Succession Services. Based
talent through the years,” according to the firm. She also has in Houston with offices in Chicago and Delaware, the trust
been portfolio manager of the firm’s technology and science company provides Hightower advisors with personal trust
equity strategy since 2006. investment management, custody and safekeeping products
for clients. Grant Tani Barash & Altman provides advisors’
Michael J. Nathanson HNW and UHNW clients with personal CFO services and
The Colony Group Chair and CEO Michael family-office capabilities, including bookkeeping and tax
Nathanson, J.D., LLM, has recently led the preparation, and BOSS helps advisors with business owner/
firm’s business expansion via five mergers and entrepreneur clients who are preparing for a merger, acqui-
the addition of 100 employees. These moves sition, sale or capital raise. In 2021, Hightower’s net new
have “strengthened Colony’s institutional practice and com- assets grew 9% organically (excluding market gains) from
plemented its wealth management and tax-services capabili- 2020. It also conducted more than 12 M&A transactions in
ties to better serve clients and drive increased organic growth,” as many months.
the firm said. Assets under management grew from about $13
billion in early 2021 to about $19.6 billion as of March 2022. Shirl Penney
At the same time, the firm grew to 20 offices and over 300 The CEO of Dynasty Financial Partners started
employees. the firm for independent advisors in 2010. It
Nathanson has hired consultants, created a Diversity now has over 200 advisors in 45 locations,
Council, launched firmwide education and training programs where they manage about $60 billion in cli-
and formed a partnership with a non-profit dedicated to ent assets. With a strong growth track record over the last 12
providing people of color with opportunities to work at com- months, the firm says, its number of employees has risen 25%

36 INVESTMENT ADVISOR NOVEMBER 2022 | ThinkAdvisor.com

IA1122_CoverStory.indd 36 10/17/2022 2:38:33 PM