With notable stops along memory lane, this cover story takes a look at what it was like to launch CAPTRUST in 1997 with a new kind of business model using a flat fee instead of charging commissions for each trade.
But while Miller admits the financial advisory business is not for everyone, he does not expect to buy firms that don’t share his aggressive commitment. In fact, when CAPTRUST does acquire a firm, half of the transaction proceeds are stock “so they become an owner in CAPTRUST,” says Miller.
He does tell Ohnesorge during the interview that a succession plan hasn’t been outlined for CAPTRUST. “In about five years, we’ll need to identify a successor,” he says. “I’ve got my mind on it.”
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