Vise platform assets just soared past $15 billion, a 1500% increase since this time last year.1 To fuel our next phase of growth, we’re expanding our executive team and naming Nick Raffone as Chief Financial Officer.
The RIA landscape is undergoing a profound transformation, with private equity firms deploying unprecedented capital into the sector and fundamentally changing its structure. This shift has accelerated the consolidation of smaller practices into enterprise-scale operations, created new demands for sophisticated technology infrastructure, and introduced complex capital structures previously unseen in wealth management.
In this rapidly evolving environment, Vise is strategically reinforcing its executive team with the appointment of Nick Raffone as Chief Financial Officer. Raffone's extensive private equity background with deep experience in structured finance and mergers and acquisitions uniquely position him to propel Vise through this transformative period for the RIA industry.
Raffone brings over a decade of financial experience in investment banking and asset management, having served as Managing Director at New Fortress Energy, an infrastructure-focused permanent capital vehicle backed by Fortress Investment Group, following earlier experience in investment banking at Goldman Sachs. His background gives him a clear view of the capital, structuring, and growth dynamics shaping the future of RIAs.
"The RIA space is at a turning point," Raffone said. "Enterprise RIAs are scaling rapidly, and private equity is driving consolidation like never before. I’ve seen the gaps that need to be filled–and Vise is building the technology to do just that.”
As CFO, Raffone will oversee Vise's finance, accounting, treasury, and investor relations functions while playing a pivotal role in shaping corporate strategy and capital formation. His private equity know-how will be instrumental as Vise expands its offerings, particularly in alternatives, and explores new growth opportunities amid rising demand for sophisticated technology solutions among advisors.
Runik Mehrotra, Cofounder and CEO of Vise, emphasized the strategic importance of the appointment:
“Nick's background bridges two worlds that are increasingly converging—private equity and wealth management. His deep understanding of the RIA world combined with his expertise in how PE-backed firms scale and deploy capital will be invaluable as we develop solutions tailored to the emerging enterprise RIA model. He understands the structural transformation happening in wealth management at a fundamental level."
With private equity now influencing the strategic direction of the wealth management industry, Raffone's arrival underscores Vise's commitment to staying ahead of the curve and delivering cutting-edge technology designed to meet the demands of an evolving industry.
1 Vise "Platform Assets" encompasses assets actively managed by Vise as well as assets that Vise aggregates, monitors, and uses to generate customized proposals.
*Times indicate typical average period for aggregators to transition newly acquired firms as per Ansarada
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