Stratos strengthens Ohio presence with family-owned firm

Stratos strengthens Ohio presence with family-owned firm
Led by a veteran with more than three decades of experience, the multigenerational team manages $120M for clients in Cleveland and beyond.
JUN 04, 2024

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.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

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.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

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.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities 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.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

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.