September 21, 2023
In the latest episode of the Global Investment Leaders podcast, Chas Burkhart, CEO of Rosemont, engages in a thought-provoking conversation with Earl “Trip” Samson III, co-managing partner of Landmark Management, LLC, a NYC-based, multi-family office. The conversation revolves around Landmark’s transition to next-generation leadership and the strategic partnership between Landmark and Rosemont, which was announced in June 2023.
Throughout this episode, Trip and Chas discuss:
- How Landmark has structured its team to address the complex needs of the ultra-high-net-worth families it serves
- How planning early and over a long period of time can lead to greater comfort and optimize outcomes
- How the multi-generational concerns of Landmark’s clients have influenced Trip’s approach to succession planning and long-term sustainability
- The role Rosemont has played in the broader context of the firm’s long-term plan over the past six years and the future of their relationship
- The importance of prioritizing people and philosophical alignment over liquidity and valuation when considering the firm’s long-term continuity
Overall, this episode provides a glimpse into what a deliberate, thoughtful approach to succession planning looks like, as well as the importance of creating a solid foundation to ensure the best possible outcome for clients.
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.
August 16, 2023
In the 25 episodes of Rosemont’s Global Investment Leaders podcast, we have interviewed accomplished executives from across the asset and wealth management industries. The insights and success factors shared by these CEOs, investment professionals and distribution leaders—all friends of Rosemont’s—have resonated with many in our audience, most of whom have wrestled with similar challenges.
With episodes spanning a variety of business models, geographies and asset classes, many common themes emerged from our conversations. Notable among these have been the intricate dynamics of fostering a thriving employee culture, the art of delivering exceptional client service and the strategic alignment of interests that underpins collective success.
The conversations provide a window to our vantage point as longtime partners to the money management industry and a sampling of our relationships across the industry. We invite you to revisit the episode library, perhaps to rediscover a particularly relevant topic or hear from an interesting guest you might have missed along the way. And if there’s a subject you’d like to discuss, feel free to reach out.
To explore the podcast episodes at your convenience, simply click here.
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify, Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.
July 27, 2023
In this podcast episode by Rosemont Investment Group, the hosts discussed two key topics: succession planning and business sustainability in the investment industry.
The podcast began with the observation that it has been a busy half-year for Rosemont, particularly with the closing of its recent investment in Landmark. As a result, Chas and Brad took a moment to reflect on their progress midway through the year.
One of the prominent themes discussed in the podcast was the growing attention being paid to succession. While succession planning has always been a part of Rosemont’s focus, they noted an increase in conversations about this topic over the past year.
During the podcast, Brad and Chas emphasize the following key points:
- The challenges faced by investment businesses in terms of sustainability due to industry evolution and increased competition.
- The complexity of investment decisions for allocators, intermediaries and clients who have numerous options to choose from.
- The growing recognition among managers of the need for sustainability and the consideration of proactive or reactive measures.
- The various risks involved with lack of succession planning, including unforeseen tragedies, incapacitation and chronic underperformance.
- The expected elimination of excess capacity and mediocre performers in the industry within the next 5-10 years.
- The impact of the next generation’s lower risk appetite on their willingness to take on equity ownership, considering factors like tax burdens, feasibility, and debt levels.
In conclusion, the hosts expressed their belief that the investment industry will witness a surge in corporate activity and M&A (mergers and acquisitions) as businesses seek to address succession challenges and enhance sustainability in an increasingly competitive landscape.
All episodes of the Global Investment Leaders podcast are available on Apple Podcasts, Spotify,
Google Podcasts and more. Receive the episodes as soon as they premiere by subscribing today.
June 27, 2023
CityWire, a premier wealth management-focused publication, announced Rosemont’s strategic partnership with Landmark Management. Rosemont’s 40% stake in Landmark supports long-term succession planning and ensures the continued independence and growth potential of the firm. It emphasizes the value of our partnership in guiding Landmark and its esteemed clients through generational transitions, solidifying their position as a trusted advisor to ultra-high net worth families.
“What we do as minority investors is we come in and we’ll give you a more commercial price for a piece of the equity,” Brad Mook, managing director at Rosemont, explains to the publication. “You continue to transition internally at a bit more of an internal multiple, and we can be a supportive outside partner, but we’re not looking to run the business.”
Throughout the article, Citywire reaffirms the importance of our partnership with an exceptional, employee-owned advisory firm. It underscores our expertise and experience in providing capital and employee-driven ownership solutions to foster long-term success.
Click here to read the entire Citywire article.
June 27, 2023
Investment Supports Long-Term Succession and Independence
Conshohocken, PA, [June 27, 2023] – Rosemont, a private investor in employee-owned asset and wealth management firms, announces a minority investment in Landmark Management, LLC, a multi-family office with more than $4 billion in assets under management. Located in New York City, Landmark provides investment management, accounting and tax preparation services for a limited number of ultra-high net worth families.
The recapitalization is designed to support the company’s gradual transition to next-generation leadership and to ensure its independence and continuity far into the future. As a minority investor, Rosemont will contribute guidance and governance as both the company and its clients navigate generational transition in the years and decades ahead.
“We are thrilled to form this partnership with Landmark—which in many respects represents the ideal Rosemont investment—after several years of discussions,” Brad Mook, managing director at Rosemont said. “Landmark has provided distinctive investment advice and valuable services to a limited number of enduring client families over a long period of time. With Rosemont’s support, it will continue serving these families as well or better for many years to come.”
“We carefully considered our choice of partner before selecting Rosemont,” Earl “Trip” Samson III, founder and co-managing partner of Landmark said. “In the end, we valued Rosemont’s indefinite investment horizon, its industry expertise and its experience partnering with firms like ours. We have been very thoughtful and deliberate with our succession planning to ensure the best outcome for our clients, and having Rosemont as an aligned minority investor and adviser puts the firm on excellent footing to evolve with our client families.”
This is the third permanent capital investment by Rosemont, following 26 private equity investments over the past 21 years. Berkshire Global Advisors served as financial advisor to Landmark Management, LLC. Cozen O’Connor served as legal representative to Rosemont and DLA Piper served as legal representative to Landmark. Terms of the transaction were not disclosed.
About Rosemont
Rosemont is a specialist investor exclusively focused on a select number of partnerships with high-quality, employee-owned asset and wealth management companies. Rosemont acquires permanent minority equity positions in support of management buyouts, recapitalizations, ownership transitions, and selected start-ups. In addition to its experience providing capital and employee-driven ownership solutions, Rosemont leverages its deep network and knowledge of the investment management industry developed through more than 30 years of advising and investing in asset and wealth management businesses. For more information visit www.rosemontinv.com.
About Landmark Management
Landmark Management, LLC, is a fee-only SEC-registered investment adviser serving a small, select group of very high net worth individual and family clients. For over 20 years, Landmark has been dedicated to the goal of providing objective, institutional-quality advisory services and access to the best available talent to meet each client’s investment needs. We employ a highly personalized approach based on open, honest communication and a deep understanding of each client’s long-term financial objectives, with the ultimate goal of becoming a trusted advisor to multiple generations of our client families. For more information visit www.landmark-mgmt.com.
Press Contact
Alexa Bartusiak
Public Relations Manager
Wealth Matters Consulting
(412) 519-7265
ajb@wealthmattersconsulting.com
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