The meeting discusses a forum organized by the Gershman Group for United Capital Advisors in light of the recent acquisition of Goldman Sachs PFM by Creative Planning. Submitted by ChatGPT.
1. Introduction and Purpose:
– Jenny Kim, a senior partner at Gershman Group, welcomes attendees.
– The forum aims to provide United Capital Advisors with helpful information during uncertain times.
– The goal is to aid advisors in navigating decisions for themselves, their families, and clients.
2. Discussion on Acquisition:
– Roger Gershman, CEO of Gershman Group, addresses the attendees.
– Acknowledges the challenging transition following the acquisition of Goldman Sachs PFM by Creative Planning.
– Views the acquisition as an opportunity to launch new careers and regain United Capital’s culture.
– Highlights issues with the Goldman Sachs acquisition, such as cultural differences and complex integration.
– Emphasizes the need for due diligence and comparison with other platforms during the transition.
– Mentions the upcoming closing of the deal in the fourth quarter, allowing time for evaluation.
3. Role of Gershman Group:
– Roger Gershman explains that the Gershman Group represents advisors’ interests as consultants.
– They help advisors evaluate platform options, compensation packages, and legal contracts.
– Gershman Group’s reputation is tied to providing objective advice to advisors.
– Consultants receive fees from firms when advisors join their platforms.
4. Introduction of Brian Neville:
– Brian Neville, a securities attorney, joins the discussion.
– Brian Neville’s expertise lies in advising advisors on restrictive covenants and regulatory considerations.
– Represents advisors in moving between firms while complying with contractual obligations.
5. Enforceability of Contracts:
– Brian Neville outlines the enforceability of agreements, especially non-compete and non-solicitation clauses.
– These agreements vary by state and can be influenced by professional status and earnings.
6. Transparency and Compliance:
– Advises transparency in sharing existing agreements with potential new firms during the transition.
– Warns against taking actions that deviate from the ordinary course of business during evaluation.
In summary, the meeting captures an informative forum led by Jenny Kim and Roger Gershman of the Gershman Group. The purpose is to assist United Capital Advisors in navigating the aftermath of Creative Planning’s acquisition of Goldman Sachs PFM. Roger Gershman discusses the acquisition’s potential and highlights the complexities of the integration. Brian Neville, a securities attorney, emphasizes the importance of compliance and transparency when moving between firms, particularly in relation to enforceable agreements. The overall focus is on guiding advisors through this significant transition while ensuring they make informed and compliant decisions for their careers, families, and clients.
If you would like to speak with Roger or Brian, simply reach out to us at 740-253-5751 or via email hello@thegershmangroup.com
