Stratos Wealth Advisors, a division of Stratos Wealth Holdings, has expanded its network with a multigenerational team in its home state of Ohio.
On Tuesday, the RIA announced it has welcomed Pistone Wealth Advisors, a family-owned firm in Pepper Pike.
Managing $120 million in total client assets, the newest addition to the Stratos advisory network is led by Karyn Pistone, president and CEO. Joining Pistone are senior advisor Spencer Dieck, practice manager Linda Tekavec, and advisor David Taucher.
Pistone Wealth Advisors has served the greater Cleveland area and clients nationwide for over 30 years, offering services in financial planning, investment portfolio design, and risk management. The firm is also recognized for its Right Start program, aimed at educating young individuals on budgeting and investing.
“We joined Stratos because we saw a real opportunity for growth,” said Pistone.
A 35-year veteran of the industry, Pistone praised Stratos’s “incredible reputation throughout the Cleveland financial services community,” along with its “strategic investments in people and technology” to help firms within its network flourish.
“We love that we can grow our practice by taking advantage of the innovation, expertise, and solutions Stratos provides, all while remaining independent,” she said.
In addition to their current services, Pistone Wealth Advisors will utilize Stratos Investment Management, formerly known as Fundamentum, to enhance their client offerings.
“Karyn and her team have developed a record of dedicated client service and with our combined resources, they are positioned for significant growth in the greater Cleveland area and beyond,” said Charles Shapiro, a founding partner and chief development officer at Stratos.
The RIA's latest move in follows last week's addition of another Pepper Pike, Ohio-based firm led by a 47-year veteran of the industry. Before that in April, Stratos snagged a $500 million team from RBC.
As of March 31, 2024, Stratos Wealth Advisors reportedly managed over $3.3 billion in advisory assets and more than $279 million in third-party assets.
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.
