In this episode of the RIA Edge Podcast, host David Armstrong speaks with Jim Kaufman, managing partner and senior wealth management advisor at OpenArc Corporate Advisory, about leading one of the largest breakaways in the wealth management industry and what the future looks like for the independent firm..

He shares how years of due diligence, a deeply rooted client-first culture, and a strong internal leadership structure helped OpenArc transition nearly 130 associates and 70 advisors. Jim also discusses how independence has expanded the firm’s planning capabilities, including estate planning, tax services, AI adoption, advisor development, and its long-term strategy for organic growth and future acquisitions.

Jim discusses:

What drove OpenArc to leave Merrill and create an independent firm
How 130 associates and nearly 70 advisors made the transition in the largest wirehouse-to-independent breakaway yet.
What services are clients now looking for that are easier to facilitate in an independent RIA
How OpenArc finds and trains new wealth advisors
Where he sees the future growth path for OpenArc

Resources:

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About Our Guest:

Jim Kaufman is managing partner, senior wealth management advisor, and a founding Board Member of OpenArc Corporate Advisory. With more than two decades of experience advising corporate executives, high-net-worth individuals, and families, Jim brings a strategic and personalized approach to wealth management.

Prior to OpenArc, Jim was a senior leader on the Global Corporate and Institutional Advisory Services (GCIAS) team at Merrill Lynch Wealth Management. Over the course of his tenure, he played a key role in building the team’s structure and business model, overseeing more than $10 billion in assets and serving some of the firm’s most strategic relationships.

Jim specializes in concentrated stock management, estate planning services, retirement planning, and custom financial strategies tailored to the needs of corporate executives and ultra-high-net-worth clients.

Originally from Warwick, Rhode Island, Jim attended Portsmouth Abbey School and earned his degree in Economics from Colby College in Waterville, Maine. He lives in the Atlanta area with his wife and five children. Jim is actively involved in several nonprofit organizations, including serving on the board and executive committee of the Boys and Girls Clubs of Metro Atlanta, volunteering with the Atlanta Children’s Shelter, and coaching youth sports teams throughout the community.