The Gershman Group

What The Gershman Group does

The Gershman Group is a privately held boutique consulting firm founded in 1984 by Norman H. Gershman, a 25-year Merrill Lynch advisor, and led today by his son Roger Gershman as CEO. The firm specializes exclusively in advising elite financial advisor teams — typically managing $100M to multi-billions in client assets — through career transitions between wirehouses (Morgan Stanley, Merrill Lynch, UBS, Wells Fargo, J.P. Morgan, Ameriprise, Raymond James), independent broker-dealers, and registered investment advisers. Core services run through a six-step methodology (listen, assess, educate, introduce, negotiate, close) plus post-transition support through 90 days, encompassing platform evaluation, compensation negotiation, practice valuation, and succession planning. The firm positions itself as advisor-first rather than commission-driven, differentiated from traditional recruiters who earn placement fees from destination firms. The Gershman Group is a professional services business — not a technology company — with no proprietary software, APIs, or SaaS product; its primary assets are the founders' and senior team's decades of firsthand advisory experience, a network of destination partners (NewEdge, Goldman Sachs RIA custody, tru Independence, Wells Fargo FiNet, Schwab, Merchant Investment Management, Summit), and a content/thought-leadership platform built around the "Breakaway Briefing" podcast/video series and Forbes/Barron's/AdvisorHUB commentary. The firm operates from San Francisco with nationwide coverage and 24/7 phone access, employing 8-10 named professionals and reporting cumulative outcomes of approximately $297B+ in advisor assets transitioned and 500-1,698+ advisors helped across its history.

Name

The Gershman Group

Legal name

The Gershman Group

Website

https://thegershmangroup.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

The Gershman Group is a privately held, founder-family-owned boutique consulting firm that advises elite financial advisor teams — typically managing $100M+ AUM — through career transitions between wirehouses, independent broker-dealers, and RIAs across the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations

Revenue model

1. Consulting Services: The Gershman Group generates revenue through consulting fees for guiding financial advisors through career transitions. Services include advising on platform selection, compensation negotiation, transition execution, and ongoing support. The firm represents advisor interests rather than platforms, suggesting a client-aligned fee structure.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

The Gershman Group is a boutique financial advisor consulting firm that guides elite financial advisors and their teams through career transitions between wirehouses, independent broker-dealers, and RIAs. Services span discovery and platform evaluation, introductions to suitable platforms, aggressive compensation negotiation, and full transition support through legal, compliance, and client communication stages, with ongoing support through approximately 90 days post-transition.

Product overview

The Gershman Group is a boutique financial advisor consulting firm offering a single unified consulting service focused on helping elite financial advisors navigate career transitions. Their offering centers on advisor transition consulting, which encompasses a six-step methodology: listening (discovery sessions), assessment (platform evaluation), education (industry landscape overview), introductions (confidential meetings with suitable opportunities), negotiation (securing top economic packages), and closing (managing transition, legal, and tax considerations). The firm also provides thought leadership content through articles and podcasts, and deal negotiation services to help advisors maximize compensation when moving between firms. The company does not offer a software product, SaaS platform, or modular product architecture.

Differentiator

Problem solved

Functional benefit

Brands

• Breakaway Briefing: The company's podcast and video series featuring expert insights, industry analysis, and transition guidance from Roger Gershman and the team.

Products and services

• Financial Advisor Transition Consulting Boutique, advisor-first consulting service that guides elite financial advisor teams through career transitions between wirehouses, independent broker-dealers, and RIAs. The service applies a six-step methodology (listen, assess, educate, introduce, negotiate, close) covering discovery, platform evaluation, confidential introductions, compensation negotiation, and execution support through legal, compliance, tax, and client communication stages, with extended support through approximately 90 days post-transition.

Quantifiable outcome

• $297B+ to $300B+ in advisor assets successfully transitioned
• +3 more outcomes

Named customers25 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and major.

• NewEdge Capital GroupcoreStrategic or Co-development PartnerNewEdge is a supported independence platform that The Gershman Group frequently refers advisors to. The firm has facilitated multiple transitions to NewEdge including billion-dollar teams. NewEdge offers true independence with choice of brand, custody, technology, and equity participation options.
• tru Independence (Sanctuary)coreStrategic or Co-development Partnertru Independence offers outsourced service provider solutions for newly independent RIAs, handling back-office tasks with technology solutions including reporting, workstations, and client interface. The Gershman Group guides advisors to tru as a recommended operational partner for teams leaving semi-captive environments.
• Goldman Sachs (RIA Custody)coreStrategic or Co-development PartnerGoldman Sachs launched its RIA custody business in 2020 and has become a major destination for breakaway advisors. Offers institutional capabilities including access to investment banking, trading desk, research, lending solutions, and sophisticated technology. The Gershman Group facilitates introductions to Goldman Sachs custody for advisors establishing independent RIAs.
• Schwab Advisor ServicesmajorStrategic or Co-development PartnerSchwab is one of the largest custodians in the U.S. and serves as custodian for advisors transitioning to independent models. The Gershman Group facilitates introductions to Schwab for advisors seeking proven, established custody solutions.
• Wells Fargo FiNetcoreChannel Partner/ Reseller/ DistributorFiNet is Wells Fargo's independent channel with approximately 12,000 advisors. Offers 100% advisor ownership of firms, clients, and brand with access to Wells Fargo's institutional platform. The Gershman Group facilitates transitions to FiNet for advisors seeking independence with institutional backing.
• Summit Financial Group (Summit)majorStrategic or Co-development PartnerSummit is a wealth management platform backed by Merchant Investment Management that has grown from $3B in 2020 to nearly $25B today. Offers equity-based advisor compensation, modern technology, and partnership model. Roger Gershman interviewed CEO Stan Gregor on the Breakaway Briefing podcast.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• Kestra Financial: Large independent broker-dealer and supported-independence platform with dedicated transition support for breakaway teams. Comparable as a destination platform and as an intermediary-adjacent recruiter of advisor practices moving from wirehouses.
• LPL Financial: Largest independent broker-dealer in the U.S. with internal transition consulting teams supporting advisor moves from wirehouses. Overlaps with Gershman as a destination and as a competing intermediary in advisor transitions.
• Dynasty Financial Partners: Supported-independence platform with an in-house transition consulting team that recruits breakaway advisors from wirehouses and independent broker-dealers. Overlaps directly with Gershman's advisor-side transition value proposition but operates as the receiving platform rather than an advisor advocate.
• Focus Financial Partners: RIA roll-up with transition consulting capability for advisors joining partner firms. Comparable in serving the breakaway advisor segment with institutional infrastructure, though operates on the receiving side of transitions.
• HighTower Advisors: National RIA platform that actively recruits breakaway advisor teams from wirehouses with dedicated transition support and equity participation. Comparable target customer (elite wirehouse advisors) and overlap with Gershman's transition consulting scope.
• Cetera Financial Group: Independent broker-dealer network with dedicated transition support for breakaway advisors. Comparable in serving elite wirehouse-advisor breakaways with platform-style economics.
• NewEdge Capital Group: Supported-independence platform with a documented Gershman Group referral relationship (multiple billion-dollar placements). Operates its own transition/onboarding infrastructure for incoming advisor teams, partially overlapping Gershman's matching and introduction function.

Others

• Heidrick & Struggles: Global executive search firm with a financial-services practice that recruits senior leadership and advisor teams. Adjacent in advisor and wealth-management talent placement; Gershman's Executive Consultant previously held a recruiting role at Korn Ferry, a comparable firm.

Emerging players

• Summit Financial Group: Merchant-backed supported-independence platform that has grown from $3B to $25B in five years through advisor recruiting. Documented Gershman partner; competes for the same elite advisor pool and operates its own transition onboarding.
• Mariner Wealth Advisors: RIA consolidator that recruits breakaway advisor teams with dedicated transition support and equity participation. Comparable target customer and partial overlap in advisor-transition services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-gershman-group
• Facebookfacebook.com/TheGershmanGroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Gershman Group