SLK Private Wealth, a partner firm of Sanctuary Wealth, is bolstering its presence in the burgeoning LA, California wealth space as it adds a breakaway Wells Fargo duo.
SLK announced that it had added a multigenerational advisor pair, Adam Weinstock and Eleanor Weinstock, in Los Angeles.
The duo, previously with Wells Fargo Advisors, brings over $300 million in client assets, primarily serving athletes, entertainers, entrepreneurs, and corporate executives.
Adam Weinstock will take on the role of managing partner at SLK, while Eleanor Weinstock will become a managing director. Eleanor Weinstock has a lengthy record in the industry that goes back 32 years.
"Adam and Eleanor run a sophisticated, high-touch advisory business that will fit perfectly with SLK's culture and approach," Strauss said in a statement.
The founders of SLK Private Wealth, Glen Strauss, Jonathan Lewis, and EJ Kahn, established the firm after departing Wells Fargo in 2022, managing $1.6 billion in assets within Sanctuary’s network. The firm also includes Chief Investment Officer Razmig Der-Tavitian and partner and portfolio manager Hank Krakover, supported by a seven-person team.
Strauss, a 40-year industry veteran, said Adam Weinstock will be instrumental in “bringing on new clients, continuing to build the practice, and ensuring seamless client service for decades to come."
"I've been interested in the independent space for several years and have fielded offers from a broad spectrum of firms, but nothing that mirrored the opportunity we see with SLK," said Adam Weinstock.
The Weinstocks selected the partnered independence model with SLK and Sanctuary because of the potential for flexibility, growth, and succession planning it offers.
SLK Private Wealth focuses on delivering highly personalized wealth management services to hundreds of families. The firm’s approach includes tax, retirement, insurance, education, and estate planning, driven by evidence-based methodologies.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
