A group of economic advisors headquartered in Marlton, N.J. has left Ameriprise Monetary to launch a brand new registered funding advisor, Laurel Oak Wealth Administration, in keeping with regulatory filings. The agency selected tru Independence as its enterprise platform accomplice. It would custody with Goldman Sachs Custody Options, and use Purshe Kaplan Sterling Investments for brokerage enterprise.
The agency had been with Ameriprise for practically three a long time, and beforehand managed greater than $2.3 billion in shopper belongings.
The brand new agency is owned by Managing Companions Robert Andreacchio, Matthew Fitzgerald, Christopher Heiser, Louis Laselva and Keith Radimer. Greg Rosen, the agency’s chief working officer, can also be an proprietor. Along with Marlton, the RIA additionally has places in Princeton, N.J. and Newark, Del.
In response to the agency’s web site, they’re joined by monetary advisors Caroline Burke, JoAnn Morgano, Sean Ryan, Gary Johnston and Jacob Hanzel, in addition to 12 paraplanners and shopper assist employees.
Advisors Anne Holderried, Bryan Dein, Nancy Findlay and Michael Newman, who have been previously with Laurel Oak, stay with Ameriprise. They handle practically $450 million in belongings below administration, and have joined one other Ameriprise follow in Voorhees, N.J. led by advisor Albert Brocious.
Laurel Oak doesn’t but record its belongings below administration, and a number of other members of the group didn’t return requests for remark. A spokesman for Sanctuary Wealth and tru Independence referred WealthManagement.com to the RIA for remark. An Ameriprise spokesperson declined to remark.
The RIA has partnered with tru Independence for reporting, compliance, expertise, transition assist and different companies, in keeping with a Type ADV.
Sanctuary Wealth, the Indianapolis-based partnership of unbiased RIAs, acquired tru Independence final 12 months. Tru operates as a separate entity from Sanctuary, sustaining its model and management group.
Tru Independence was based in 2014 by CEO Craig Stuvland with the aim of making a brand new service platform aimed toward funding advisors and wealth managers with belongings starting from $300 million to $1 billion. On this mannequin, advisors preserve 100% fairness of their agency whereas counting on Tru for financing, consulting, branding, actual property, distributors, public relations, compliance, and so on. Stuvland was beforehand president and chief working officer of Widespread Sense Funding Administration, a fund of hedge funds.
