Wealthies Circle Podcast

Wealthies Circle Podcast: Lon Dolber on Staying Independent as an Independent Broker/Dealer

American Portfolios' Lon Dolber talks about the firm's laser focus on service for his affiliated advisors, a shared ownership model and a reluctance to pursue outside investors or growth through acquiring or being acquired.

 

Lon Dolber is the CEO of American Portfolios, an independent broker/dealer and RIA with some 800 affiliated advisors and $40 billion in assets, and the winner of the 2021 Wealthmanagement.com Industry Award for CEO of the year for small broker/dealers (less than 1,000 affiliated representatives).

Dolber launched American Portfolios on Sept. 10, 2001—and kept the nascent firm going in the terrible weeks following. He’s grown the business with a laser focus on service for his affiliated advisors, a shared ownership model and a reluctance to pursue outside investors or growth through acquiring or being acquired. “That’s about consolidation for profit and scale and for shareholder value. How does that help the community? Has it helped employees? How does it help advisors and has it helped the investing public?”

Photo by Daria HuxleyLon Dolber American Portfolios Wealthies Awards

In this episode, David Armstrong speaks with Lon about:

  • Launching American Portfolios on Sept. 10, 2001, and making the decision to continue even in the wake of the next day’s terrorist attacks.
  • Growing the business from a handful of employees to now serving 800 advisors across 400 branches, managing some $40 billion in assets.  
  • His thoughts on the outside investors and the frenzy of acquisitions taking place in the industry–and how that might not help the advisor or the advisor’s clients. 
  • His belief in stakeholder capitalism and a shared ownership model for the business.
  • Why he and his firm are supporting a creative residency program in Ferguson, Mo.  
  • Playing bass in a Motown cover band

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