RWM Crosses $2 Billion in AUM, A New Investable Asset Class is Born with Dallas Tanner (CEO, Invitation Homes), Season Finale!

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.7 • 2.2K Ratings

🗓️ 2 April 2021

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on the podcast - it's the season finale of the Compound Show! We'll be back this summer with something big, everyone's hard at work behind the scenes building something new. For now, I just want to say thanks for listening, rating, reviewing, sharing, commenting and making this show a part of your weekly routine. When I started the podcast last summer, I had no idea where it was going. It started out as a pandemic project but quickly grew to over a million downloads. My guest this episode is Dallas Tanner, CEO and founder of Invitation Homes, which trades on the New York Stock Exchange under the ticker symbol INVH. Dallas was one of the first entrepreneurs in America to recognize the potential for systematizing and scaling the single family rental home business. He now controls a portfolio of over 80,000 suburban homes from coast to coast. You can listen to the whole thing below, or find it wherever you like to listen to your favorite pods! DISCLOSURE: Josh is personally invested in shares of INVH and has been since 2017. Nothing said on this podcast is meant to be taken as a solicitation to buy or sell any securities nor does it constitute personalized financial advice. Please see my full disclaimer at the link below. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, it's J. Bay.
0:02.4	This week, my firm, where it holds wealth management, broke the $2 billion in assets under
0:08.0	management.
0:09.0	Mark, according to RIA channel, there are out of 14,925 RIA firms that are wealth managers,
0:19.8	only 189 of those firms or 1.2% of the industry have assets greater than $2 billion.
0:28.7	So we're now among the top 1% of firms in the wealth management industry by assets.
0:34.8	We launched the firm seven years ago, four people, 65 million in total assets.
0:41.6	We were nothing.
0:43.0	And now we're over 2 billion, almost 40 employees today, 1,500 client households.
0:49.5	We broke a billion dollars in assets in March 2018.
0:53.8	So in three years, we've doubled the size of the firm.
0:57.6	We've done this with no private equity backing or outside capital whatsoever, no outside
1:04.0	investors, no financial support from anyone up until last year, couldn't even get a loan
1:10.5	from a bank, had to personally co-sign for loans.
1:15.7	We did this with no M&A, never bought out a firm, no acquisitions, no mergers, no transactions.
1:23.7	We have no recruiters.
1:26.1	We don't pay signing bonuses.
1:28.4	We have no headhunters.
1:30.9	All of the advisors who joined us started out as fans of the content and the philosophy
1:36.3	that we preach.
1:37.7	We don't cut checks.
1:39.6	We don't recruit.
	...

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