Ryan Kaminski

Background

• Chicago-based co-founder and Co-Head of M&A at Green Sail Capital Partners (est. 2023), a boutique firm focused exclusively on RIA/broker-dealer sell-side M&A, valuations, and capital raises.
• Previously an inaugural member of LPL Financial's sell-side advisory services group; started his career at Bridgepoint Investment Banking (Omaha).
• 10+ years in the business, $1B+ in transaction origination/execution.

Current focus

• Sell-side mandates for independent RIA/BD owners; firm deliberately takes on a "select few clients" rather than high volume.

What he cares about

• Deal structuring risk — particularly the "second bet" advisors take on when accepting equity consideration (e.g., 25% rollover) in an acquisition.
• Is vocal that current record RIA multiples (~11.5x-12x EBITDA) are propped up by buyer "multiple arbitrage" and will decay gradually toward the end of the decade.

Recent moves

• Advised Pinnacle Wealth Management on its July 2025 sale to Maridea Wealth Management (Maridea's first Chicago-market platform).
• Named to WSR's 2025 "M&A 5" list of top wealth management M&A professionals.
• Increasingly visible as a media voice/contrarian on RIA consolidation economics (InvestmentNews, Aug 2026).

Sensitivities

• He and co-founder Chris Gent hold a contrarian view relative to large PE-backed consolidators' growth narrative — expect pushback on optimistic valuation assumptions.
• As a small boutique founder, he may be protective of Green Sail's high-touch positioning vs. larger platforms and wary of being pattern-matched to a "roll-up" pitch.

Questions to ask

• Where do you see EBITDA multiples heading over the next 12-24 months, and how should that shape equity consideration in a roll-up structure?
• What drew Green Sail to the Pinnacle/Maridea mandate specifically — what's your filter for client fit?
• How exposed do you think the market is to the advisor-retirement wave you've flagged publicly?