Top Financial Professionals in the US Emerge as Leaders on InvestmentNews’ Hot List 2024
December 17, 2024 — The United States continues to solidify its status as a global hub for wealth creation, driven in large part by a strong recovery in the stock market and concentrated growth among leading tech giants. According to Boston Consulting Group’s Global Wealth Report 2024, North America accounted for over half of all new financial wealth created worldwide in 2023, with the S&P 500’s surge—the Magnificent Seven tech companies at the forefront—powering this growth.
Cross-border wealth inflows into the US increased by 5.6 percent last year and are projected to rise by nearly 7 percent annually through 2028. This fertile environment has provided ample opportunities for top financial professionals to demonstrate their expertise, innovate their practices, and deliver exceptional service — characteristics celebrated in InvestmentNews’ Hot List 2024. ## Navigating Challenges in a Dynamic Market
Lynn Chen-Zhang, CEO of Zhang Financial, highlights the primary obstacles financial advisors have faced over the past year:
- Market volatility and geopolitical uncertainty: Shifting global dynamics testing advisor agility and client communication.
- Fee compression: The rise of robo-advisors and low-cost ETFs has heightened client sensitivity toward fees.
- Regulatory complexities: New compliance demands require firms to remain vigilant and adaptable.
Chen-Zhang emphasizes that leading firms are responding by offering comprehensive financial planning and value-added services beyond traditional investment management, insisting that advisors stay proactive and aligned with evolving regulatory landscapes.
Industry consolidation has also accelerated, with private equity firms acquiring smaller wealth management outfits. Jesse Hurst, founder of Impel Wealth Management, underscores the need to embrace technological advancements, noting how innovations like generative AI enhance portfolio construction and streamline client communications—even for boutique teams managing significant assets.
Leaders Driving the Future of Wealth Management
Craig Gould, CEO of Binah Capital Group and a Hot List honoree, exemplifies leadership steering wealth management into new territory. After orchestrating a high-profile merger and Binah’s public listing on NASDAQ earlier this year, Gould oversees a network spanning over 550 RIAs, approximately $25 to $30 billion in assets under management (AUM), roughly $300 billion affiliated AUM, and 1,900 financial professionals.
Gould credits Binah’s success to strategic talent recruitment and forging a best-in-class broker-dealer platform that empowers advisors to scale and innovate. “We want to be the leader in partnering with RIAs because that’s where growth is,” he says. His vision focuses on fostering respect, complementarity, and a culture that attracts and retains top talent.
Meanwhile, Thomas Ruggie, founder and CEO of Destiny Wealth Partners, anticipates market trends such as fee compression well in advance. His early adoption of a fee-based advisory model led to an early transition into a Registered Investment Advisor (RIA) structure, positioning his firm carefully ahead of industry shifts.
Ruggie places high value on personal connection, believing the “little things” — being a dependable sounding board for clients through all life’s challenges — differentiate a successful advisor. His $1.2 billion AUM firm thrives on this client-first approach.
Liz Miller, president and founder of Summit Place Financial Advisors, adopts a people-centered philosophy in a space increasingly drawn to in-person client interactions. Her holistic wealth strategies emphasize depth of trust: each advisor manages around 15 to 20 families, enabling meaningful relationships grounded in ethical and comprehensive planning.
Building Success Through Technology and Culture
Mike LaMena, CEO of Wealthspire Advisors, leads a $28 billion AUM advisory powerhouse with 24 offices and 370 employees. LaMena credits much of their success to a careful blend of scalable technology and personalized client service.
“We use technology at every chance we can to automate commoditized tasks, freeing advisors to engage more deeply with clients,” he explains. LaMena believes the future of wealth management will be “more tech-enabled but also more human,” emphasizing a culture where team members “[think] and [act] like owners.”
Jeffrey DeHaan of Clearwater Capital Partners showcases consistent high growth with over 13 percent net new asset flow annually, primarily serving accomplished business owners and professionals. Despite a demanding leadership role, DeHaan credits client loyalty and strategic technology use, including CRM-driven security enhancements, for enabling an efficient and secure experience for clients.
“Your clients are your world,” he notes. “If you’re not serving them at the level they deserve, you won’t have a business for long.”
InvestmentNews Hot List 2024: Celebrated Financial Professionals
The Hot List recognizes outstanding executives and advisors such as:
- Elizabeth Miller, President and Founder, Summit Place Financial Advisors
- Thomas Ruggie, Founder and CEO, Destiny Wealth Partners
- Amanda Arcilesi Simmons, Partner and Financial Advisor, ARC Wealth Management
- Beth Lawlor, President, Private Wealth and Affluent Wealth Management, U.S. Bank
- Craig Gould, CEO, Binah Capital Group
- Lawrence Calcano, Chairman and CEO, iCapital
- Bob Long, CEO, StepStone Private Wealth
- Jeffrey P. DeHaan, Managing Partner, Clearwater Capital Partners
- Shawn Bostic, Director, Regulatory Compliance, Kestra Financial
- Adam Gana, Managing Partner, Gana Weinstein LLP
- Alan Moore, CEO, XY Planning Network and AdvicePay
These leaders embody a commitment to innovation, client-centered service, and navigating shifting market realities with foresight and resilience.
Conclusion
As the US maintains its position as the premier destination for wealth management, the top professionals highlighted on InvestmentNews’ Hot List 2024 demonstrate how back-office innovation, regulatory agility, and personalized service combine to drive sustained success. Their pioneering spirit not only benefits clients but also ensures the industry remains robust, adaptable, and ready for the evolving future of financial advisory.
For in-depth profiles and the complete Hot List, visit InvestmentNews.
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