From the Curian shutdown, AssetMark hired five business development and regional consultants formerly with Curian.
“We’re excited about this year and being able to extend our service to Curian advisors,” Kim says.
EQIS Capital, an asset management firm based in San Raphael, Calif., also stepped up as soon as Curian’s close was announced and said it would help advisors make the switch. Rick Parker, former senior regional business consultant for Curian, was hired by EQIS to help spearhead the effort as EQIS national sales manager.
He said no tally has been taken for the number of advisors coming to EQIS so far from Curian but “it is an ongoing effort to attract them.”
Curian served advisors with clients who had small accounts, as small as $25,000. “EQIS has always had a lot of clients with accounts between $25,000 and $100,000,” Parker says. “These are clients we have always attracted.”
Another firm working with Curian advisors is Beacon Capital Management, an RIA in Dayton, Ohio. However, Chris Cook, founder and CEO of Beacon, says, “It is difficult to find a home for advisors with smaller accounts.” Beacon generally has a minimum account size of $50,000.