Lifeworks Advisors, a fast-growing independent RIA firm, announced today that the company has received a strategic investment by one of the wealth management industry’s most successful and well-known executives to help fuel the growth and expansion of Lifeworks advisor technology platform and digital marketing capabilities.
Through the innovative ScratchWorks fintech accelerator, Marty Bicknell will take a 12% stake in Lifeworks through a capital investment of $1.8 million, creating a $15 million valuation for a growing RIA firm and advisor technology platform that is just 2 years old, with $100mm in AUM. Bicknell and Kenny Pointer, SVP of Operations at Mariner Wealth Advisors, will join Lifeworks Advisors’ Board to provide key insight and advice on how to scale Lifeworks Advisors into the RIA industry.
“We are beyond thrilled to have Marty, Kenny and the entire team at Mariner Wealth Advisors as strategic partners as we look to grow Lifeworks Advisors’ advisor platform.” said Ron Bullis, President and Founder of Lifeworks Advisors. “This partnership will accelerate our growth and provide us with the key resources, insight and positioning to immediately place us as a prime choice for breakaway advisors looking for a modern and scalable platform that provides a superior client and advisor experience.”
You can learn more now by reaching out to Mariner via our VIP Messenger. And if you'd like to do a little more due diligence first, start the research process on the TAMP Dashboard.
Lifeworks Advisors' financial advisor platform provides growth-minded advisors with proven systems, tools and templates to support and enable a scalable, fee-based, subscription model for financial planning and wealth management, including automated digital onboarding, ACH and credit card processing, combined with a digital marketing solution to drive growth of ideal prospects, all delivered under one modern, comprehensive and unified advisor and client technology experience.
“We are constantly looking at new and innovative advisor solutions that will become the future of advice,” said Marty Bicknell, CEO, president and founder of Mariner Wealth Advisors. “We believe that Lifeworks Advisors, along with Ron as the leader and visionary, will be the next great advisor platform and client solution that will transform the wealth management space. I couldn’t be more excited to become an investor and partner in helping them reach their vision.”
Key to the success and early fast growth of Lifeworks Advisors is the proprietary Family Strategic Planning System® (FSPS) which is a proven methodology, platform and approach for delivering fee-based financial planning advice, guidance and overall wealth management. FSPS provides all of the tools, templates, technology, training and support advisors need to get up and running to provide fee-based financial planning that can scale through automation, client engagement and digital tools.
To learn more about the Lifeworks Advisors platform and sign up for a live demo, head to http://www.thefutureofadvice.com.
Admittedly, the U.S. oil supply picture is very complicated. Inventories moved higher during the pandemic lockdowns with fears of breaching maximum limits. Those fears did not pan out, but wells were shut off and new wells have not been drilled. That took production down quite dramatically in the spring which saw some subsequent re-activation of shut-in wells as prices recovered through the summer and fall. But new wells have not been drilled to offset depletion.
On a well-by-well basis, G&R did confirm the rush of reactivation of shut-in wells but now we’re seeing sequential declines starting in September – all the shut-in wells have now been reactivated but we’re still down year-over-year on production due to a lack of new drilling activity. Prior to COVID, there were 50 drillers in Bakken versus 13 today – basically in wind-down mode. The Permian had over 400 rigs operating at the beginning of the year versus just over 100 today. G&R is hard-pressed to see a path towards sustained increases in production despite a rising rig count. And according to the Bear Traps Report (11/24/2020), the U.S. shale basin was expected to produce 14 million barrels/day this year, but that estimate is down to 11 million bpd as US shale production is seeing major declines without replenishing.
The upshot is that the world could be facing another energy supply squeeze over the next few years barring a major upturn in net new energy capital expenditures to more than offset natural depletion (one analyst estimates the world needs to replace two Canadian oil sands just to keep up with depletion). Indeed, Figure 3 shows one economist’s estimates for the net supply picture.
