DALLAS–ALM First Financial Advisors has announced structural changes in its ownership and management.
Co-founder and CEO Emily Hollis will continue in her current role, while Angela Calvert and Tom Manley will sell their interests in ALM First back to the firm in order to pursue new opportunities.
“We’re excited about the next chapter for ALM First, but it’s a bittersweet moment,” Hollis said in a released statement. “After working together for so many years to build our company and great staff, we will deeply miss Angela and Tom. They have contributed mightily to ALM First’s success, and we wish them the very best in their next endeavors. At the same time, we’re looking ahead and positioning the firm for new development opportunities.”
The new structure will consist of five employee partners and a minority equity investor. In addition to Hollis, other partners include Mike Ensweiler, managing director of business development; Travis Goodman, managing director, advisory services; Kevin Kirksey, managing director, strategic services group; and Robert Perry, managing director, investment services.
ALM First expects the change process to take approximately 60 days to complete, which includes providing notices to clients about the new ownership structure and completing regulatory steps as a registered investment advisor. Both Calvert and Manley will continue onboard during the interim, serving as resources for clients, staff and service providers.