VestGen Wealth Partners is undergoing a significant leadership transition as CEO Josh Gerry steps down, less than two years after founding the Chicago-based registered investment advisor (RIA) platform. Jason Hanavan, the company’s current president and chief financial officer (CFO), will assume the role of CEO. This leadership change is being framed by the company as part of a "next-gen executive succession plan."
Founded by Gerry in December 2024, VestGen has experienced rapid growth, amassing $8.4 billion in assets under management (AUM) within its relatively short operational history. SEC filings indicate that Gerry remains the majority owner of VestGen through a holding company. A spokesperson for VestGen, communicating via email, emphasized the company’s accelerated growth trajectory, stating, "Since VestGen’s launch, we have significantly exceeded our growth goals well in advance of our original timeframes. Josh was instrumental in building a robust foundation for our firm, and we look forward to building further on our success under Jason’s leadership."
Gerry’s previous professional experience includes leading Impetus Wealth Strategies, an LPL Financial affiliate, where Hanavan also served as CFO. Impetus Wealth Strategies is no longer registered with the SEC. The swift succession plan at VestGen, particularly given the firm’s nascent stage and impressive growth, suggests a strategic move to ensure continuity and leverage established internal leadership to navigate future expansion.
The RIA industry, a dynamic sector of wealth management, has seen considerable consolidation and growth in recent years. Platforms like VestGen aim to provide independent advisors with the infrastructure, technology, and compliance support needed to serve clients effectively while maintaining their entrepreneurial independence. The success of such platforms is often measured by their ability to attract advisors, grow AUM, and provide a scalable operational model. VestGen’s achievement of $8.4 billion in AUM in under two years is a notable benchmark, indicating strong market reception and operational efficiency.
The appointment of Hanavan, who has been with VestGen since its inception and played a key role in its financial operations and strategic direction as CFO and president, suggests a deep understanding of the company’s core business and growth objectives. His financial acumen is expected to be crucial in steering VestGen through its next phase of development, potentially focusing on further AUM growth, advisor recruitment, and strategic partnerships. The "next-gen executive succession plan" narrative implies that this move was anticipated and planned, aiming to ensure a smooth transition of leadership and a continued focus on the company’s long-term vision.
Emigrant Bank Bolsters Family Office Capabilities with Key Hire
In another significant development within the financial services sector, Emigrant Bank has appointed Tyler Kelley as managing director. Kelley’s mandate is to spearhead strategic initiatives, with a particular focus on expanding the bank’s newly launched family office services. This expansion is designed to cater to the complex financial needs of high-net-worth and ultra-high-net-worth individuals and families.
Kelley will report directly to Liz Nesvold, who holds multiple influential positions: vice chair of Emigrant Bank, chair of Emigrant Partners, and executive chair of Emigrant Family Office. Nesvold’s statement underscored the depth of her relationship with Kelley and her confidence in his capabilities: "Tyler and I have known each other for nearly 20 years, and I’ve had the opportunity to watch him operate across nearly every aspect of a wealth management business." This long-standing professional rapport suggests a strong foundation for collaboration and shared strategic vision.
Kelley brings over two decades of extensive experience in wealth management, strategic advisory, operations, and enterprise development. His career trajectory includes a pivotal role as chief operating officer and partner at Evoke Advisors, a firm that was acquired by MAI Capital in the previous year. Prior to his tenure at Evoke Advisors, Kelley spent more than 15 years at Bel Air Investment Advisors, where he held the position of chief operating officer and senior managing director. This substantial background in operational leadership and strategic growth within established wealth management firms positions him well to drive the expansion of Emigrant Bank’s family office offerings.
The growing demand for sophisticated family office services reflects a broader trend in the wealth management industry, where ultra-affluent clients seek integrated solutions encompassing investment management, estate planning, tax advisory, philanthropy, and lifestyle management. Emigrant Bank’s strategic investment in this area, marked by Kelley’s appointment, signals its commitment to capturing a larger share of this lucrative market segment. The bank’s existing infrastructure and reputation, combined with Kelley’s expertise, are expected to facilitate the development of a comprehensive and client-centric family office offering.
Orion Strengthens Wealth Management Technology with New Executive Appointment
Orion, a prominent wealth technology firm, has announced the appointment of Yi-Ching Wu as executive vice president of wealth management product and platform. In this critical role, Wu will be responsible for leading initiatives aimed at driving the firm’s ongoing growth and enhancing advisor adoption of its technology solutions.
Wu brings a wealth of experience, with over 20 years dedicated to leading investment product and platform strategy across both wealth and asset management organizations. Her expertise is expected to be instrumental in shaping Orion’s product roadmap and ensuring its platforms meet the evolving needs of financial advisors and their clients.
Before joining Orion, Wu held a senior leadership position at AssetMark, where she was instrumental in overseeing proprietary and third-party investment platforms. Her previous roles at Schwab included significant contributions to product development and management. At Schwab, she managed large-scale proprietary investment lineups and played a key role in the company’s strategic entry into the exchange-traded funds (ETFs) market. This diverse background in product innovation, platform management, and strategic market entry positions Wu as a valuable asset to Orion as it continues to innovate and expand its offerings in the competitive wealth technology landscape.
The wealth management technology sector is characterized by rapid innovation, with firms constantly striving to provide advisors with tools that enhance efficiency, improve client engagement, and streamline operations. Orion’s strategic hiring of Wu underscores its commitment to staying at the forefront of this technological evolution. Her leadership in product and platform strategy will likely focus on developing integrated solutions that address key advisor pain points, such as digital client onboarding, sophisticated financial planning tools, and seamless portfolio management. The emphasis on "advisor adoption" suggests a focus on user experience and the practical implementation of Orion’s technology within advisor practices.
Balefire Wealth Expands Corporate Solutions Expertise with New Senior Hire
Balefire Wealth, a Dallas-based RIA established in 2025, has significantly bolstered its corporate solutions division with the addition of Sarah Schmitz as senior corporate solutions advisor. Schmitz brings over 25 years of specialized experience in retirement plan consulting and employee benefits, a skillset highly valued in the corporate retirement and employee financial wellness space.
Schmitz’s career includes senior roles at notable organizations such as Principal Financial Group, True North, and Encana Corporation. During her tenure at these firms, she gained extensive experience in critical areas including retirement plan design, fiduciary responsibility, and the promotion of employee financial wellness. This deep well of expertise will be directly applied in her new role at Balefire Wealth, where she will engage with employers, nonprofit organizations, and business owners to develop and implement effective retirement and employee benefit strategies.
Schmitz expressed her alignment with Balefire Wealth’s ethos, stating, "The firm’s integration across disciplines and genuine focus on long-term impact rather than transactional relationships aligns perfectly with the way I want to work." This sentiment highlights Balefire Wealth’s approach to client relationships, emphasizing a holistic and enduring partnership model. For corporate clients, this translates to a more strategic and sustainable approach to employee benefits, aiming to enhance financial security and well-being for their workforce.
The addition of Schmitz to Balefire Wealth’s team signifies a strategic move to enhance its service offerings for corporate clients. As businesses increasingly recognize the importance of robust retirement plans and comprehensive employee benefits for talent acquisition and retention, firms like Balefire Wealth are positioned to provide specialized guidance. Schmitz’s expertise in plan design and fiduciary matters is particularly crucial, given the complex regulatory environment and the fiduciary duties associated with managing employee retirement assets. Her focus on financial wellness further aligns with the growing trend of employers investing in programs that support the overall financial health of their employees, which can lead to increased productivity and reduced financial stress.
Balefire Wealth’s formation in 2025 and subsequent rapid expansion, including this strategic hire, indicates a proactive approach to building a comprehensive service model. The integration of corporate solutions alongside individual wealth management services allows Balefire Wealth to offer a more cohesive and integrated approach to financial well-being for both businesses and their employees. This integrated model can create synergistic opportunities, allowing the firm to serve a broader client base and deepen its relationships within the corporate sector. The firm’s commitment to "long-term impact" suggests a client-centric philosophy that prioritizes sustainable outcomes over short-term gains, a characteristic that is increasingly attractive to both individual and institutional clients.
