Your Legacy.
Your Future.
Our Support.
PLOVER HILL CAPITAL
PHC champions independent advisors by providing the resources and support they need to preserve their legacy and secure their future.
About
Plover Hill Capital offers tailored solutions to help advisors protect their legacy, fuel growth, and manage transitions smoothly. We offer minority capital, transition financing, and expert guidance, empowering you to achieve your goals.
We seek to challenge industry status quos, specifically that internal succession from G1 to G2 is neither economically or practically feasible. Nor do we believe independent advisory firms cannot succeed in this period of mass aggregation.
In fact, we believe that the gradual maturation of the independent financial advisory space over the past 20 years has provided a unique opportunity to address a market for firms seeking to protect their independence​. Such trends include:
  • The influx of G2 talent and poor recruitment and retention of G2 by mega-RIAs
  • Commoditization of technology solutions and myriad industry services once accessible only through expensive outsourcing engagements
  • Transparency and education around valuation, deal structure and optionality in the industry
    • PHC will provide tailored capital solutions and advice to independent advisors seeking guidance with strategy, growth, succession, and transitions​.
    Market Opportunity
    >15K
    *
    SEC Registered RIAs in 2023 an increase from 2022
    *
    https://www.thinkadvisor.com/2024/06/21/what-the-ria-industry-looks-like-now-in-4-charts/
    $128.4T
    *
    AUM in discretionary managed AUM
    *
    https://www.thinkadvisor.com/2024/06/21/what-the-ria-industry-looks-like-now-in-4-charts/
    37%
    *
    Financial advisors who plan to retire within 10 years representing $10.4T
    *
    https://advisorlawllc.com/urgent-call-for-advisor-succession-planning/
    40%
    *
    Financial advisors who do not have a succession plan
    *
    https://advisorlawllc.com/urgent-call-for-advisor-succession-planning/
    Pillars
    Our steadfast principles serve as our cornerstone to ensure uniformity and alignment in fulfilling our mission.
    Longevity
    We think in terms of generational value creation, not quartly earnings
    Perseverance
    We are stewards of the Founders’ legacy while supporting the next generation in building an enduring future​
    Authenticity
    We believe one size doesn’t fit all and that true success is achieved through the empowerment of authenticity
    Offering
    Minority Capital
    passive, non-voting shares designed not to trigger change of control
    Transition Financing
    competitive terms to facilitate the transfer of equity from G1 to G2 at Fair Market Value​ or other transitional needs to secure the independent future of the firm
    Growth Capital
    support both the organic and inorganic growth vision
    Advice and Guidance
    serve as an experienced and networked resource to assist with the priorities of partner firms who seek help
    Standard
    Internal
    Succession
    Options
    Founder Discount & Financing
  • Internal succession facilitated by G1 either taking a meaningful discount to market value or extended financing period
  • Financing frequently provided by seller themselves through the form of a seller note
  • G1 retains majority of risk while receiving meaningful discount to fair value
    • SBA Loan
  • G2 secures SBA (or similar) loan to acquire practice from G1
  • Personal guarantee required, along with other covenants
  • At current fair market valuations, G2 unable to service the note purely using cash flow from operations
  • G2 required to use outside capital to service debt, making this impractical in most cases
    • Current and sub-optimal outcomes for G1, G2, and financing partners include:
  • Founder Discount & Financing
  • SBA Loan
    • Plover Hill
    Internal
    Succession
    PHC Succession Solution
  • PCH designed mezzanine-like succession solution that creates flexible structure that aligns incentives and provides G1 with fair market value for shares
  • 5 year interest-only period, followed by fixed 10 year term loan allows G2 the time and flexibility to grow the business
  • No personal guarantee after 1 year transition period
  • Fair market value received by G1 with achievable capital terms for G2 allowing for successful internal transition
    • Plover Hill’s internal succession solution is an optimized structure allowing for enduring legacy and value creation.
    Leadership
    “​The answer is in the room.”
    – Quote from one of Rob’s mentors, which has driven much of his perspective on leadership and building enduring companies
    Rob Martin
    Founder, Managing Partner
    In 2008, Rob began his finance career at Symmetry Partners, climbing the ranks from Compliance Associate to Director of Marketing to President. Tasked with leading a new RIA initiative in 2014, he co-founded Apella, which grew from $80 million to $3.5 billion in AUM by June 2023. Under his leadership, Apella completed 13 transactions and launched 10 offices nationwide, solidifying its status as one of the fastest-growing RIAs. Rob holds degrees in Psychology from the University of Richmond and the University of New Haven.
    Outside work, he serves on the board of the CFM Foundation and enjoys summers in Narragansett, RI, and skiing in the winter.