◆ $5.1B in Client Advisement ◆ Wayne, Pennsylvania

You've built something real.
You just don't own it yet.

Most advisors spend decades growing a practice worth millions — and retire with zero enterprise value to show for it. There's a different structure. This page explains it.

Start a Confidential Conversation → See What's at Stake

The wirehouse / BD reality

Zero enterprise value — your book belongs to the firm, not you

No succession path you control — transition terms are set by the firm

Proprietary product pressure — recommendations shaped by the platform

Fiduciary gaps — dual registration creates structural conflicts

The Structural Problem

The better your practice, the more visible the ceiling.

Most advisors don't see the full picture until they step back from it. These are the six structural features of the traditional advisor model that compound against you over time.

Ownership

$0 at Retirement

The practice you've spent a career building has significant enterprise value — but inside a wirehouse or BD, that value belongs entirely to the firm. When you retire, you walk away with your trailing 12, not a business asset.

Enterprise value owned by you at retirement

Platform

Constrained

Product shelves shaped by firm relationships, platform approvals for third-party managers, limited access to private markets and custom indexing. The tools available to you are defined by what's profitable for the firm, not what's optimal for your clients.

Open

vs. Constrained — what Kathmere gives you

Fiduciary

Compromised

Dual registration — broker-dealer and RIA — creates a structural conflict of interest. Advisors are left navigating suitability vs. fiduciary standards depending on the account type, while clients assume a single consistent standard.

One

standard — fiduciary, always, at Kathmere

Enterprise Value

Not Yours to Capture

Independent RIA practices routinely trade at 5–10x EBITDA. That's the market's assessment of what a well-run advisory practice is worth. Advisors inside traditional models can't access that valuation — it flows to the firm, not the advisor who built it.

5–10×

EBITDA — independent RIA market multiple

Succession

Limited

Most wirehouse and BD advisors cannot execute a true succession — transferring the business to a next-generation advisor on their own terms. The firm controls the outcome. At Kathmere, succession is built into the structure from Day 1.

Your

terms — not the firm's

Independence

Constrained

Fee structures, investment minimums, compliance policies, and client communication standards are all set by the home office. The advisor who built a $250M practice from scratch operates under the same institutional constraints as a first-year rep.

Full

independence as an SEC-registered RIA

The Comparison

What the model looks like
on the other side.

A direct comparison of the traditional advisor model vs. Kathmere Capital Management — across the dimensions that matter most for a serious practice.

Dimension	Traditional Model	Kathmere Capital
Ownership	$0 enterprise value at retirement	Real equity stake with enterprise value you can monetize
Growth Partnership	No upfront capital at transition	3× cash + 0.5× equity at close for a 10% non-controlling stake
Platform	Firm-selected, approval required	Open architecture — public, private, custom indexing, full access
Fiduciary	Suitability / dual registration	SEC-registered RIA — fiduciary standard, always
Custodian	Proprietary / firm-controlled	Charles Schwab — independent, advisor-friendly
Succession	Firm controls transition terms	Built into partnership structure — your terms, your timeline
Capital Partner	None — you share upside with the firm	Merchant Wealth Partners — $174B ecosystem, 15–20× EBITDA exit path

The Move

Built for advisors who've built something worth protecting.

A transition to Kathmere is not a disruption — it's a structured handoff, planned months in advance, executed over days. Our onboarding team, legal partners, and the Schwab Advisor Transition Team work in parallel so your clients experience continuity from Day 1.

Talk to Nick Directly →

Months 1–3: Planning

Custom pro forma for your production level. Legal review of your current agreements. Transition strategy built around your specific book.

The Transition Window

Schwab account transfers running in parallel with your resignation. Most books are substantially transitioned within 30–60 days.

Day 1: Full Platform

Complete access from Day 1 — Schwab custody, full tech stack, CIO support, planning team, and onboarding team. Serving clients immediately.

Growth Partnership Close

Growth Partnership economics — 3× cash + 0.5× equity — close at or near transition. Merchant Wealth Partners provides the capital structure.

Platform: All platform licenses included

Technology, investment research, planning software, and compliance infrastructure are all part of the partnership — no per-seat fees eating into economics.

Start the Conversation

One conversation.
No obligation.

This isn't a pitch. It's a conversation between peers about what's possible for a practice like yours. Nick Olesen is a Co-Founder of Kathmere — not a recruiter, not a sales rep. Someone who built what you'd be joining.

Email Nick Directly →

What a first conversation covers

A custom pro forma for your production level — what the economics actually look like

Enterprise value modeling — what your practice would be worth as an independent

Honest transition mechanics — legally, operationally, and for your clients

Complete confidentiality — nothing shared is used for any purpose beyond answering your questions

Start a Confidential Conversation

Nick Olesen

Co-Founder · Kathmere Capital Management

Email Nick Directly →

Email [email protected]

Phone 215-353-3421

All information is held in strict confidence. We will never contact your current employer or share your information with any third party.

You've built something real.You just don't own it yet.