As we continue to see fallout from recent banking turmoil, CEO & Founding Principal, Lorenzo Esparza spoke with the Financial Times to discuss how many advisors are moving to independent firms that allow them to put clients’ interests first.

Five years ago, $15bn in AUM RIAs just did not exist. Mergers left many advisers working for large firms or banks with cultures they did not sign up for, looking to find a new firm or set out on their own. Technology, such as platforms that can provide an outsourced “back office” for financial advisers seeking independence, has accelerated the rate of change. While the largest RIA teams managing billions of dollars would have been hamstrung from leaving their firms in the past, this tide has reversed, and independence becomes attractive the larger teams grow.

Lorenzo founded Manhattan West to create a uniquely integrated platform of investments and services built for the modern needs of high-net-worth investors and institutions.

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