Ritholtz Wealth Management has rolled out an employee-led succession plan that expands equity ownership to more employees and formalizes a next-generation leadership structure while keeping the registered investment adviser fully independent and free of outside capital.
The New York-based firm said it now has 29 employee owners, including co-founders, financial advisors, and other key personnel, following a transition that has been in development for roughly a decade. Ritholtz said the transaction was executed without external funding, positioning the business among the largest 100% employee-owned RIAs.
Ritholtz, founded in 2013, said it oversees more than $7.6 billion in assets for high-net-worth clients and institutions and has expanded to 15 offices nationwide. The firm also highlighted its media and research presence, including the public profile of co-founder Barry Ritholtz through his writing and podcasting.
Under the new structure, Barry Ritholtz will remain chief investment officer and continue to support the investment management committee. Day-to-day leadership will remain with co-founders Josh Brown as CEO, managing partners Michael Batnick and Kris Venne, and President Jay Tini. The firm said it will continue operating under the Ritholtz brand in perpetuity, with the succession plan designed to maintain continuity, culture, and independence as the business grows.
KEY QUOTES
“Expanding ownership to more of our people keeps this firm one hundred percent independent, aligned and focused on the only thing that matters — doing right by our clients. That’s the model that got us here, and it’s the model that will carry us forward.”
“I have the absolute best job on Wall Street. This succession plan secures our shared legacy on our own terms. I’m extremely proud of the firm we’ve built and the people who’ve played a role in building it. Expanding ownership to more of our people keeps this firm one hundred percent independent, aligned and focused on the only thing that matters — doing right by our clients. That’s the model that got us here, and it’s the model that will carry us forward. It was very important to me that the firm would continue on into the future without changing what’s special about the place as we continue to grow. The expectation is that every day I come to the office, it feels as magical as the year we founded Ritholtz Wealth Management.”
“I turn 65 this year, and I wanted all of our clients, employees and partners to understand that we have a plan to continue forever, without private equity dollars, regardless of my age. This structure is a key part of that plan. The work we have done – and will continue to do – will always focus on education, planning, asset allocation, taxes, costs and discipline. We never set out to become the largest firm. Just the best.”
Barry Ritholtz, Co-founder, Chairman and Chief Investment Officer, Ritholtz Wealth Management
“When we launched the firm, Barry and I were involved in day-to-day management by default. And as we’ve grown, we were deliberate in developing our own talent and thoughtfully recruited an amazing team. This now allows Barry to focus on his highest value work, and that’s investor education, engaging with the public at live events across the country, and more. From the very beginning, our goal was to answer to clients – never outside owners. This transition keeps ownership and leadership exactly where they belong: with the people who live the culture every day. This is the Ritholtz Way.”
Josh Brown, Chief Executive Officer, Ritholtz Wealth Management
