ICONIQ Capital is now an $89 billion RIA. As they continue to evolve, our Founder and CEO, Lorenzo Esparza was asked to offer his thoughts to Brooke Southall for RIABiz. His view?
“[…] PE backed RIAs get rolled up to capture scale and efficiency. But then these RIAs end up looking like most other RIAs without any real differentiation. […] They begin to look like a UBS or Merrill with the massive infrastructure and corporate red tape. […] In order to differentiate, firms start to move into other areas not traditionally found in an RIA. That is precisely what Manhattan West has done. We are offering a variety of services around the traditional RIA model and adding direct investments. It’s those practices and offerings that make us look different than most other RIAs.”
