Placing a Founding Chief Operating Officer for a High-Growth RIA

Hanover was engaged by a fast-growing Registered Investment Advisor (RIA) to conduct one of the most consequential hires in the firm's young history: its first-ever Chief Operating Officer. With over $3 billion in AUM and ambitious expansion plans on the horizon, the firm needed an experienced operational leader who could bring structure and scalability without sacrificing the entrepreneurial culture that had defined it from the start. The firm was founded less than 5 years ago by a group of partners who led a successful team within a wirehouse and decided to go independent, launching their own RIA. The first few years of the firm's existence were focused on establishing clients, stability, and setting up basic systems and processes. By late 2025, the firm had reached over $3 billion in AUM and the partners realized they were increasingly being pulled away from their core responsibilities to handle operational issues. Operations were handled as a team effort by the partners, each one overseeing certain aspects of what would eventually become a Chief Operating Officer role. This shared approach caused inconsistency and miscommunication.

Hanover was selected by the RIA to conduct this key hire. The RIA met with multiple search firms but recognized Hanover's deep experience and track record within the RIA and larger wealth management space. They also valued that the delivery team conducting the search would be reachable and flexible in its approach. Hanover met with the RIA in person to get a sense of the firm's culture, meeting with many of its partners to learn their insights into what they expected from the role. Key requirements and factors were established. The team at Hanover spent two weeks identifying key competitors and talent, establishing a long list of qualified candidates and targets from a combination of established network, industry referrals, and pure research. A variety of backgrounds were presented and reviewed with the hiring team. Once the long list was reviewed and target candidates were prioritized, Hanover contacted the candidates and put them through their multi-stage vetting process. Two weeks after the long list meeting, Hanover presented a list of six strong candidates, all of whom were selected by the client for initial discussion. Hanover led the scheduling and facilitation of the interviews with multiple feedback meetings and check-ins with the client conducted throughout the interview process.

Ultimately, the RIA successfully hired its top-choice candidate, an individual described by two of the firm's partners as 'a diamond in the rough' and 'a superstar.' This candidate came to Hanover via industry referrals, leveraging Hanover's deep network in the RIA and wealth management space. The RIA made the hire a full month before their internal expected timeline, a great benefit to a firm that is keen to keep growing. The search was conducted amidst the Thanksgiving, Christmas, and New Year's holidays with no interruption in delivery cadence.