Father-son advisor duo launch $750M indie firm

Father-son advisor duo launch $750M indie firm
The practice driven by a CIBC Private Wealth veteran with over three decades of experience has made its debut in Chicago's high-net-worth market.
NOV 05, 2024

After nearly 20 years in the business, a veteran advisor has partnered with his son to run their own family-owned independent practice in Chicago.

Burling Wealth Partners, the newly launched independent in the Windy City, is led by veteran wealth advisor Mark Resnik and investment manager Steven Resnik.

The firm, which reportedly had over $750 million in assets under management as of October 28, aims to provide tailored financial strategies for high-net-worth individuals and families.

With more than three decades of experience in wealth advising, Mark Resnik brings a seasoned approach to the firm’s leadership. His professional career includes nearly two decades as an investment advisor on his public record with the SEC, with more than seven years spent most recently at CIBC Private Wealth.

“For over 30 years, Mark Resnik has had the honor and privilege to serve clients with a focus on providing tailored strategies to meet each client's needs,” Steven Resnik, who serves as a managing director at Burling Wealth Partners, said in a statement.

The team also includes industry veterans Young Im, Zachary Patzik, and Abby Davis, each contributing diverse expertise to serve clients across a broad band of financial planning needs.

All the members of the founding team are managing directors, with Chris Nelson offering support as chief compliance officer, according to the firm's website.

Read more: What does a CCO do?

“The mutual respect, cooperation, and collaboration amongst our team enables us to uniquely service our clients across the wealth management spectrum,” Steven Resnik added.

Burling Wealth Partners, which operates as an independent registered investment advisor, will emphasize transparent fees, selected best-in-class partnerships, and the latest industry technologies. This approach is particularly relevant, the firm stressed, as the industry confronts a multigenerational transfer of wealth.

"We believe there is a unique opportunity to build a next-generation wealth management firm to provide advisors with the opportunity to better serve their clients," said Steven Resnik.

Latest News

Judge OKs more than $90 million in settlement money for GWG investors
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs
Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs

Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.

Retirement uncertainty cuts across generations: Transamerica
Retirement uncertainty cuts across generations: Transamerica

National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.

Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future
Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future

While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.

Raymond James continues recruitment run with UBS, Morgan Stanley teams
Raymond James continues recruitment run with UBS, Morgan Stanley teams

A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.

SPONSORED RILAs bring stability, growth during volatile markets

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave