Verdence Hires Breakaway Exec to Expand OCIO Business

Verdence Majority Stake Signals Continued RIA Consolidation

Verdence Capital Advisors, the $3 billion Emigrant Partners-backed RIA based in Hunt Valley, Maryland, has hired Peter McGratty as director of RIA development for its outsourced investment management division, Verdence/OCIO. The hire signals a deliberate expansion of the firm’s OCIO for RIAs offering, moving beyond portfolio management into broader business consulting and operational support for third-party advisory firms.

McGratty is a recognized name in the independent RIA space. He founded Pinnacle Advisor Solutions, a breakaway RIA support business affiliated with Pinnacle Advisory Group, in 2009. He subsequently sold that business to Congress Wealth Management in April 2021 before departing in early 2022. His background is centered on helping advisory firms build operational infrastructure, serve clients more effectively, and grow sustainably.

Verdence launched its OCIO division in May 2022. The division gives independent RIAs access to Verdence’s investment management capabilities on an outsourced basis. McGratty will work alongside Matt Andrulot, managing director of Verdence/OCIO, and will report to Verdence President Tom New.

CEO Leo Kelly has indicated that the Verdence/OCIO brand may change to reflect the expanded service scope. The firm is currently developing a more comprehensive offering that combines outsourced investment management with direct business consulting, a combination designed to give RIA partners both investment infrastructure and the advisory support needed to run more effective practices.

For independent RIAs evaluating outsourced CIO relationships, Verdence’s expansion into business consulting represents a notable shift in how OCIO providers may position their value beyond the portfolio.