Stratos Wealth Advisors has extended its reach in Ohio with a veteran-led wealth planning practice.
The RIA announced Monday that it has welcomed Spain & Smith, a wealth management firm based in Pepper Pike, Ohio, to its platform. This move is part of Stratos’ broader strategy of attracting growth-focused advisors to its support platform.
The firm oversees more than $100 million in assets under management. Stratos Wealth Advisors itself manages over $3.3 billion in advisory assets and over $279 million in third-party managed assets as of March 31, 2024.
Spain & Smith is led by Henry “Hank” Spain, managing director and senior portfolio manager, and supported by Dayna Smith, wealth advisor. A veteran among veterans, Spain’s record in the industry stretches back 47 years, including a nearly two-decade affiliation with Wells Fargo.
The Ohio-based firm focuses on helping clients develop long-term financial wellness programs to achieve their financial goals. They provide an array of services including financial, retirement, Social Security, tax, estate, charitable, and education planning, as well as risk management.
“As we examined how we wanted to expand in the future, we felt working with Stratos would be the best path to achieving our goals,” Spain said.
He cited the national firm’s “strong” reputation in the state and beyond, as well as its technological and practice management solutions, which he expects will allow his practice to thrive along with their clientele.
“I’ve known Hank for years and have a deep respect for his approach to client service,” said Jeff Concepcion, founder and CEO of Stratos Wealth Partners. “I’m thrilled Hank and Dayna have joined us as they continue to grow their business by taking advantage of Stratos' scale and scope to enhance the way they support their clients.”
In April, Stratos Wealth Advisors significantly bolstered its network in northern Nevada as it added a $500 million multigenerational team from RBC.
The national RIA’s sibling private wealth division also revealed plans to boost its bicoastal profile with a master plan to expand in the East Coast, emphasizing New Jersey and Westchester, New York.
New report shows dimmed outlook for benefits to retirees and disabled Americans, creating further pressure for federal tax hikes or more borrowing.
Open letter to SEC Chair Paul Atkins questions whether the Ivy League university withheld material information prior to its $750 million taxable bond offering.
The Las Vegas-based hybrid RIA overseeing $8.8 billion in assets has named Andy Kalbaugh president to help scale its advisor platform.
The wealth tech giant – in collaboration with Fidelity, BlackRock, State Street, and Franklin Templeton – is offering its advisor and wealth firm users more ways to diversify.
Deal volume increased post-election but now caution has taken over.
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.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
