A pair of financial advisors is launching a new independent practice with LPL Strategic Wealth Services, having managed around $265 million at RBC.
Trevor Johnson and Brian Russo have joined LPL’s supported independence model to start Steeplechase Capital Partners with offices in Newtown Square, Pennsylvania, and Windham, New Hampshire.
The duo has been working together since 2011, building a practice that serves primarily professional athletes, high-net-worth families, and small business owners in service-based industries and Johnson regularly appears on CNBC specializing in sports and entertainment industries.
Their passion for horse racing is reflected in the name of their firm but also in its culture: “There is a special bond between a horse and its rider that’s built on mutual trust and confidence, not unlike the relationship we strive to cultivate with our clients,” the firm’s website states.
The advisors, who are joined in the practice by senior investment administrative associate Kim Brennan, decided it was time to break free from the wirehouse environment two years ago having recognized a shift in the financial services landscape.
They decided on LPL after months of interviewing potential wealth management firms to partner with.
“Our affiliation with LPL equips us with innovative technology, cutting-edge business solutions and a wealth of other resources to help us provide a greater level of personalized service,” Russo said. “As an independent firm, we have the freedom to innovate, adapt and truly shape our business around the evolving needs of our clients, giving them exactly what they deserve and want. This means clients get the best of both worlds — the personalized touch of a boutique firm and the robust offerings of a major financial entity.”
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
