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WSR Names PRO 5: Top Wealth Management Professional Services Firms
WSR Honors Outstanding Professional Services Firms
Every industry needs specialists – those professionals who come from a unique place of distilled knowledge and experience – to serve the rest of the industry in meeting challenges. In wealth management, consultants and subject matter experts of various backgrounds provide the extra guidance needed for advisors, RIAs and others to manage difficult situations or catalyze growth.
Today WSR honors the top professional services firms in the wealth management industry – those firms that have consistently brought specialized capabilities to bear and, in doing so, made a broad impact in the industry. In arriving at the honorees, our team reviewed many outstanding professional services firms for industry impact, reputations for excellence and demonstrated leadership. Some of the firms recognized today are boutique to wealth management, while others operate in multiple industries with a team dedicated to ours.
Fusion Financial Partners
After nearly two decades in the independent advisor space, Mike Papedis launched Fusion Financial Partners in 2017 to help advisor teams navigate the pathway to independence and reduce time needed to establish their own RIA. Mike is joined at Fusion by his business partner and wife, Kimberly Papedis, who brings over two and a half decades of industry experience to the firm.
The core specialization of Fusion is acting as the chief architect and outsourced chief operating officer for advisors who would benefit from proven RIA build expertise and negotiating support on their journey to launch their own RIA.
Fusion created two proprietary processes, Fusion BlackOps, for breakaway teams, and Fusion RIA Master Builder Services, to lead advisor teams and key stakeholders through the RIA build process. The processes include pre-design consultation, visioning workshops, schematic design, design development, contracting and negotiations, project administration and post-transition operational coaching and support.
The Fusion leadership team boasts executive-level experience at predecessor firms including HighTower Advisors, Wells Fargo FiNet, Raymond James and Fidelity Investments, where both Kimberly and Mike held a variety of leadership roles in supporting independent advisors.
In 2024, they consulted on the successful launches of RIA firms Serenus Wealth Advisors, Outrunner Capital and GreyKasell. Other RIAs Fusion supported include Chicago Capital, Performance Wealth Partners and Thrivent Advisor Network.
The Fusion team has moved over $35 billion in client assets to the independent space.
“The key for advisors is to find an expert guide to lead through the critical design decisions of launching a custom-made RIA firm,” said Mike Papedis. “Just as important, having a safe venue to learn the truths about independence and the nuisances of the vendor landscape is vital education.”
He continued, “With the right partners in place, typical worries such as compliance, technology, sources of revenues, investment research, marketing and employee benefits become exciting opportunities and distinguishing strengths of the new RIA firm.”
