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STRATOS WEALTH HOLDINGS CONTINUES ITS ADVISOR GROWTH IN 2022
News provided byStratos Wealth
Jan 24, 2023, 4:06 PM ET
BEACHWOOD, Ohio, Jan. 24, 2023 /PRNewswire/ -- Stratos Wealth Holdings ("Stratos"), a family of companies focused on the support and success of independent financial advisors, added 23 financial advisors managing more than $3.6 billion in assets under advisement on their prior platforms.
"Our culture and value proposition continues to resonate strongly with financial advisors throughout the country. Providing the ability for advisors to launch, take ownership and operate their own business, but not go at it alone, has proved very compelling," said Charles Shapiro, Stratos Founding Partner, and Chief Development Officer. "Delivering critical resources important to the growth of a financial advisory practice in areas such as business development, enhanced technology and practice acquisition allows our Financial Advisor partners to do what they do best - provide clients with top-tier advice and an outstanding experience."
Stratos made several key minority equity stake acquisitions during 2022, including a controlling interest in NSC Asesores ("NSC"), a premier wealth management and investment firm headquartered in Mexico City.
Jeff Concepcion, Stratos Founder and Chief Executive Officer, said, "We created a platform and model that will serve us well in this, and future practice acquisitions. Looking ahead, we see enormous opportunities to reinforce our industry leadership based on our unique advisor-centric culture, strong capital position and willingness to invest in the future. We're excited to continue the strong momentum we have generated in supporting the businesses of advisors who work in association with us - in growing our advisor talent as well as acquiring financial advisory practices to our platforms."
Stratos received a WSR Wealth Exemplar Award for Private Equity-Backed Firm of the Year and an Investment News Women to Watch Ascension Award for having women comprise at least 30% of its C-suite.
Michael O'Brien, Managing Partner, and Director of National Sales, added, "What we are most excited about and proud of is the caliber of the partners who have chosen to affiliate with Stratos. The advisor practices and talent we have brought on continue to help fuel the growth of their respective practices as well as Stratos'."
Multiple Stratos-affiliated financial advisors have received industry honors and established specialization in in specific areas of client's needs, such as Special Needs Planning for families and Financial Planning for Women in Transition.
About Stratos Wealth Holdings
Stratos Wealth Holdings is a family of companies focused on supporting the growth and success of financial advisors across business models and affiliation structures. Stratos companies include Stratos Wealth Partners, Stratos Wealth Advisors, and Fundamentum. Stratos includes a national net network of over 340 financial advisors and financial planning practitioners working across 29 states throughout the country.
Stratos Wealth Partners, Ltd., an SEC Registered Investment Advisor, manages over $9.6 billion in advisory assets, and advises through LPL Financial, over $6.9 billion in brokerage and third party managed assets for a total of $16.5 billion as of December 31, 2022. Fundamentum, LLC, an SEC Registered Investment Advisor, manages over $1 billion in advisory assets as of September 30, 2022.
Stratos Wealth Advisors, LLC, an SEC Registered Investment Advisor, manages over $2.8 billion in advisory assets and over $12 million in third party managed assets as of December 31, 2022.
Stratos Wealth Management DBA LPL Financial, an SEC Registered Investment Advisor, manages over $287 million in advisory assets, and advises through LPL Financial, over $304 million in brokerage and third party managed assets for a total of $591 million as of December 31, 2022.
Fundamentum, LLC, an SEC Registered Investment Advisor, manages over $1.1 billion in advisory assets as of December 31, 2022.
(Any references to a firm being registered as an investment adviser or its related persons as registered advisory representatives does not imply a certain level of skill or training)
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SOURCE Stratos Wealth