What’s going on with the name change to Thurston Capital?
Simply put, it’s a result of growth. We wanted our parent holding company’s name to better reflect the full scope of the companies we own and operate. Over the past few years, we’ve successfully executed an acquisition strategy that has broadened our capabilities. The new name, Thurston Capital, helps unify our expanding family of companies under one brand. All our companies and business units now operate under a shared identity while still benefiting from our comprehensive wealth management platform. This platform is designed specifically for experienced financial advisors to meet the full spectrum of their clients’ needs—without compromising their autonomy. The new name boosts brand awareness and simplifies our presence in the independent market, making it easier to communicate the value and reach of our unified services.
You joined Thurston in Fall of 2023 after leading Wells Fargo’s FiNet program for 12 years and running First Clearing for over a decade. You could have gone anywhere–why Thurston?
That’s a great question. Honestly, my original plan was to take it easy for a while and explore opportunities over time. But after some early conversations with Rick Parker and Matt Reynolds—now my partners—we realized our unique backgrounds and complementary skill sets could form a visionary leadership team.
If I had to sum it up, I’d say I was drawn to Thurston because of three things: People, Platform, and Possibilities.
Let me break that down. On the people aspect, I wanted to work with leaders I trusted and genuinely liked. Rick and Matt had been clients of mine at First Clearing, and I knew firsthand how creative, innovative, and sharp they were. They’re strong operators with a real appetite for growth—and that’s the kind of energy I wanted to be around. The platform was compelling because it was already built to serve the full spectrum of needs for RIAs and independent advisors. From tech stack and asset management to insurance, tax prep, family office services, lending, marketing, and expert transition support—it was all there, ready to go. And the possibilities? I saw limitless potential. With the right strategy, focus, and storytelling, I believed we could become a truly competitive platform provider for RIAs and independent advisors.
My first 18 months have been terrific. Early in my career, I learned a valuable lesson: First-class people attract first-class people; second-class people attract third-class people. In my experience, Thurston is a first-class organization through and through.
You have broad experience creating, and managing premium platforms at large institutions, what’s it like building out a platform at a smaller firm–is there a real diminution in products, services, and tech?
Not at all. In fact, I’d argue the opposite. While large institutions have scale, smaller firms like Thurston offer agility—and that’s a powerful advantage. Think of the classic analogy: the aircraft carrier versus the battleship. Both are formidable, but one turns faster. Thurston is the battleship. We’re nimble, responsive, and willing to innovate, evolve, and adapt—especially when it comes to simplifying how advisors use our platform without sacrificing their autonomy.
We’ve struck what I believe is the ideal balance. We leverage the robustness of Wells Fargo’s desktop solution while layering in the customization and flexibility of an independent RIA. That means advisors get the best of both worlds—enterprise-grade infrastructure with boutique-level personalization.
Our platform is built to empower advisors with everything they need: tech stack, asset management, insurance, tax prep, family office services, lending, marketing, and expert transition support. But more importantly, we never lose sight of the core relationship—between the advisor and their client. Our job is to strengthen that bond and help drive successful outcomes.
The biggest difference in building a platform at a smaller firm is speed and control. At Thurston, decisions rest with three partners. If we need a new application, we source it, vet it, decide, and implement—often in a matter of months. That kind of velocity just doesn’t happen at big firms, where layers of committees, budget battles, and a tendency to protect the status quo slow everything down. At Thurston, conversations lead to action. And in this industry, there is no status quo—you’re either getting better or falling behind.
What are the key elements you think about when building your tech stack? How does it fit in with your growth strategy?
We focus on four core areas when making decisions about our platform:
- Advisor Feedback – We actively listen to our advisors and recruits to understand their needs and identify any gaps. Their input directly informs our priorities.
- Client Relationship Enhancement – We evaluate whether a solution strengthens the advisor-client relationship across CRM, planning, portfolio management, reporting, billing, portals, advice delivery, and marketing.
- Data Security & Compliance – Every solution must meet rigorous standards for encryption, firewalls, testing, regulatory compliance, and vendor oversight.
- Simplicity Through Integration – We aim to streamline the advisor experience through automation and integration, while enhancing vendor due diligence and reducing management overhead.
Growth for us means strategic M&A, experienced advisor recruiting, and advisor retention. Our comprehensive wealth management platform is a key differentiator. To be a true destination for advisors, we must offer a full suite—growth capital, asset management, tax prep, family office services, insurance, banking/lending, compliance, and operations—in a way that’s easy to consume.
Ease of use, cost efficiency, and strong user support are just as critical as the technology itself. When those elements align, we believe the platform becomes more of a growth engine—not just a tool.
Speaking of recruiting, what are you seeing in the marketplace now and over next 5 years?
The recruiting landscape is more competitive and fragmented than ever. Advisors have an unprecedented number of choices when it comes to firm options and affiliation models. But with that abundance comes risk—there are a lot of sharks in the water. That’s why it’s critical for advisors to slow down, educate themselves, and conduct thorough due diligence before making a move.
Looking ahead, I believe four key factors will continue to shape recruiting packages:
- The Incentive – How much is it? What’s paid upfront versus earned over time? How long is the forgivable note? Is there an option to sell a minority stake? These are all critical questions advisors must ask.
- The Payout – What’s the actual payout? Are platform fees deducted before or after? What are the affiliation and tech charges? Advisors should always run a pro forma to understand their true net payout after local expenses.
- Equity – Is equity part of the deal? If so, what kind? What do you actually own, and how does dilution work? There are many flavors of equity—advisors need to read the fine print.
- The Platform – This is the foundation. Does it support your growth? Is it comprehensive, integrated, and easy to use? The platform should empower advisors, not burden them.
Recruiting will stay aggressive, but smarter advisors will look past the check and focus on strategic alignment. We believe firms that lead with transparency, platform sophistication, and cultural fit will win. At Thurston Capital, our approach is simple: empower great advisors to do great work. It’s Right Here.