Crown Wealth Group, a growing RIA based in Charlotte, NC, has added Douglas Coppola, founder of Client First Advisors, an RIA with 40+ years industry experience based in Chapel Hill, NC, to its advisory business.
Today there is a lot of hype in the financial advisory M&A world, but most of the focus is on the latter “Acquisitions” portion of this common acronym. Crown Wealth Group (“Crown”) has strategically turned their attention to the former portion and executed their first merger.
“We have been eagerly waiting to announce the addition of Doug Coppola and his firm, Client First Advisors (“CFA”) into ours. The merger of two successful firms will provide an immediate solution to several potential obstacles such as succession and continuity planning by adding and retaining talent from each of our firms,” says Nick Kolbenschlag, Managing Partner of Crown Wealth Group. “This merger not only provides a path to immediate growth, new markets, and additional efficiencies, it also provides Doug the ability to realize the most value from his firm in the future while offering additional solutions and protection for his clients.”
Prior to founding Client First Advisors in 2011 with his Wife, Mary Jo, Doug worked for some of the world's leading investment banks in the United States, Europe and the Middle East. He will bring more than 40 years of experience in the financial industry and money management to the Crown Investment Committee; a committee that he will chair.
Doug explains, “I believe that it is no longer possible for any one professional to have all the knowledge needed to serve today’s client needs. In addition to Crown’s enhanced operational and technology platform, their team brings a high-level of expertise in financial planning as they play the role of a “Personal CFO” to their clients. They become the single point of contact for all financial matters, focusing on goal-based investment planning, risk management, wealth transfer, plus business and tax strategy, just to name a few. Most importantly we all have the same client centric philosophy focused on service and personal contact.”
Crown’s merger process focuses on advisors who aren’t ready to “sell” just yet, but who, at the same time, need to strengthen their offering in today’s changing industry as well as create clear exit options for the future. There’s the added benefit of a safety net against their own death or disability for their clients and their heirs. A merger is a great answer to the all too common question that many clients ask of their trusted but aging advisor: What happens to me if something happens to you?
In Doug’s case, he is not quite ready for retirement and has taken on the position of Executive Director and Investment Committee Chairman. He will be active in the management of client portfolios and relationships and will continue to enhance the Crown investment process.
When properly planned and executed, the result of a merger provides advisors with several options and solutions that are unrivaled in the field. Crown has positioned itself for continued growth, both organically and through merger and acquisition activity due to its unique offering. “Our firm has the industry know-how, experience and deal structure flexibility to not only transition an advisor and their client base, but more importantly, the relationships that business is built on” says, Crown’s Chief Investment Officer, Steve Lindgren.