$1 billion group leaves Arnerich Massena to go independent

The Portland-based breakaways are setting up a new firm called Allium Financial Advisors

Oct 5, 2016 @ 4:02 pm

By Greg Iacurci

A pair of advisers overseeing $1 billion in assets has broken away from Arnerich Massena Inc. to form an independent registered investment advisory shop, Allium Financial Advisors, the new firm announced on Wednesday.

Arnerich Massena is a Portland, Ore.-based RIA with approximately $25 billion in assets under management, according to its most recent Form ADV filed with the Securities and Exchange Commission.

The new firm will focus on high-net-worth families and non-profit organizations.

(More: See all the latest moves in InvestmentNews' Advisers on the Move database)

Allium, led by managing director Sheree Arntson, is a three-person team consisting of two advisers and one-person serving as back-office support. Ms. Arntson had been with Arnerich for 22 years.

The RIA will use the Tru Independence platform, which, similar to firms such as Dynasty Financial Partners, offers services such as technology, research and support for independent advisers.

Advisers say many of the difficulties with going independent stem from the administrative responsibilities and back-office details, such as heavy paperwork load and trouble with investment changes.

0
Comments

What do you think?

View comments

Recommended next

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print