Michael Wagner Discusses the Importance of Tech and Recruiting with Citywire

Recently, Citywire surveyed top RIA executives to answer various questions impacting RIA firms. One of the executives that provided insights on these questions was Omnia Family Wealth Co-Founder and Chief Operating Officer Michael Wagner. Both the survey and Wagner’s specific, in-depth answers were highlighted in a recent Citywire article.

For the first survey question, Citywire asked: Where do you plan to invest the most in your business this year? Despite a surge of mergers and acquisitions about RIA firms, the survey determined that technology and recruitment are the two most important business investments among the participating delegates.

Because Omnia Family Wealth is currently focused on building out a robust technology stack and hiring talent, Wagner certainly agrees. “We’re in a phase now where we’re building scale but not sacrificing character,” he explains. “We’re looking for culture fit when we’re recruiting and hiring because you don’t want to dilute what you have when you’re growing.”

Next, the survey inquired about the most important factor when selecting an investment. For this question, more than half (55%) of respondents said it was a fund’s track record that influenced their investment choices the most.

According to Wagner, a fund’s track record is important for investment selection, however, market price is also a critical factor. He says that firms must be judicious about the costs they can control, factoring the risks, taxes and expenses incurred from their selections.

“We need to make sure we’re not overpaying for something we don’t need to be,” states Wagner.

To read the entire Citywire article and see what else the survey says, click here.

Receive for Insights

This field is for validation purposes and should be left unchanged.

RELATED ARTICLES

Omnia Family Wealth Recognized In Financial Advisor Magazine’s 2022 RIA Ranking

Omnia Family Wealth Recognized In Financial Advisor Magazine’s 2022 RIA Ranking

Read More
Michael Wagner Comments on Short-term Treasury Market in Bloomberg

Michael Wagner Comments on Short-term Treasury Market in Bloomberg

Read More
Michael Wagner On the Importance of Flexibility in Attracting Young Advisors in Barron’s

Michael Wagner On the Importance of Flexibility in Attracting Young Advisors in Barron’s

Read More
Michael Wagner Shares Financial Moves for Retiring Smoothly in a Bear Market with Money

Michael Wagner Shares Financial Moves for Retiring Smoothly in a Bear Market with Money

Read More
Michael Wagner Explains the Benefits of GRATs in Financial Planning

Michael Wagner Explains the Benefits of GRATs in Financial Planning

Read More
Investing Amid Stagflation: US Wealth Managers’ Perspectives

Investing Amid Stagflation: US Wealth Managers’ Perspectives

Read More
Omnia Family Wealth CEO Steven Wagner Named Among Barron’s Top Advisors of 2022

Omnia Family Wealth CEO Steven Wagner Named Among Barron’s Top Advisors of 2022

Read More
Michael Wagner in MarketWatch: What Cautious Investors Need to Know About the Ukraine Crisis

Michael Wagner in MarketWatch: What Cautious Investors Need to Know About the Ukraine Crisis

Read More
CNBC Interviews Michael Wagner About Investment Mindset Amid Geopolitical Issues in Russia and Ukraine

CNBC Interviews Michael Wagner About Investment Mindset Amid Geopolitical Issues in Russia and Ukraine

Read More
©2022 Omnia Family Wealth, All Rights Reserved.