Commonwealth Financial Network has made a hefty addition to its rapidly growing advisory network as a family-led ensemble from Arizona joins from Osaic.
The fast-growing RIA announced Tuesday that Krueger Financial Services, a family-owned firm based in Tempe, Arizona, has officially become the latest partner in its independent network. The firm, previously affiliated with Osaic, manages over $630 million in client assets and includes a team of nine advisors, led by Kim Krueger, her brother Eric Krueger, and Tim Hill.
In discussing the transition, Kim Krueger emphasized the importance of aligning with a partner that understands the unique needs of an ensemble practice.
“One of the biggest challenges as an ensemble practice is that much of the industry hasn’t evolved to serve our business model,” Kim Krueger said in a statement Tuesday.
The partnership with Commonwealth is expected to offer the Krueger team not only a cultural fit but also the technology and resources necessary to optimize their operations.
“I’m highly focused on where I can gain additional efficiencies,” Krueger added. “Easy access to subject matter experts makes a huge difference.”
She also stressed the benefits of using an integrated platform for her practice as well as their clients, which includes family relationships that span four generations.
And Commonwealth’s integrated trading platform means I don’t have to use several systems to get something done—and neither do our clients, who can access what they need through one portal.”
The Krueger team is also looking to the future, with a particular emphasis on business continuity and succession planning.
“We also value the tools and resources around business continuity and succession, as our primary objective is to ensure our clients are well served for generations to come,” Krueger noted.
Becca Hajjar, managing principal and chief business development officer at Commonwealth, echoed the importance of the cultural fit, highlighting the shared values between the two organizations.
“As a family-owned practice, the Krueger team felt at home with our private ownership structure,” Hajjar said. “Also, like us, the team wants a decades-long partnership based around giving clients an outstanding experience.”
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
