Broker-Dealer Provides Tailored Platform for Successful Investment Advisors, Large Wirehouse Teams

Staff Report From Metro Atlanta CEO

Monday, August 6th, 2018

Arkadios Capital, a hybrid broker-dealer and RIA based in Atlanta founded one year ago, is moving into a full floor of 309 East Paces Ferry Road in Buckhead.

The firm launched in the spring of 2017 with just two employees. When it moves into its new space this summer, it will have 20. It will more than double its revenue by the end of this year to more than $10MM.

Arkadios is a privately-held independent broker-dealer providing tailored solutions to its affiliated independent wealth advisory firms. Along with the usual suite of high-end securities, bonds and mutual funds, the platform offers access to vetted private equity deals, real estate investments, debt products and other alternative investments missing in the larger IBD channels.

“The foundations of financial advice are diversification and independence, which are lacking as the independent broker-dealer channel becomes more and more commoditized,” said CEO David Y. Millican, a former advisor who started Arkadios out of his frustrations with the commoditization of the independent broker/dealer channel. “We support entrepreneurial ideas and business models. Arkadios has the expertise and comfort level to back the various ways an advisor runs their practice.”

Arkadios is more than an IBD channel; it is an advisor’s advisor. Millican and his partners leverage their knowledge on behalf of their affiliated firms. They help RIAs and wealth management teams with taxes, valuations, back of office and much more.

“We know these companies and we know the RIA space. We know how to get from $1 million in revenue to $2 million. We know how to scale it to $5 million, and we know what it takes to get to $10 million to $20 million,” said Millican, who launched an RIA in 2002 with $85 in AUM and grew it to $2B in AUM. “We are more than their IBD, we’re their advisors. We look at their business and help get them to the next level and beyond.”  

Advisory groups at the large wirehouses are able to establish their own brand inside Arkadios’ corporate RIA, which offers ongoing support, E&O insurance, technology integration and compliance. The Arkadios platform combines the flexibility of an RIA with the traditional book of business model.

Meanwhile, established RIAs are able to maintain their brand, while offering their investors a suite of high-end products. Arkadios is an independent business, and therefore the team is accessible and deeply involved with their clients.