Stratos Wealth Advisors has extended its reach in Ohio with a veteran-led wealth planning practice.
The RIA announced Monday that it has welcomed Spain & Smith, a wealth management firm based in Pepper Pike, Ohio, to its platform. This move is part of Stratos’ broader strategy of attracting growth-focused advisors to its support platform.
The firm oversees more than $100 million in assets under management. Stratos Wealth Advisors itself manages over $3.3 billion in advisory assets and over $279 million in third-party managed assets as of March 31, 2024.
Spain & Smith is led by Henry “Hank” Spain, managing director and senior portfolio manager, and supported by Dayna Smith, wealth advisor. A veteran among veterans, Spain’s record in the industry stretches back 47 years, including a nearly two-decade affiliation with Wells Fargo.
The Ohio-based firm focuses on helping clients develop long-term financial wellness programs to achieve their financial goals. They provide an array of services including financial, retirement, Social Security, tax, estate, charitable, and education planning, as well as risk management.
“As we examined how we wanted to expand in the future, we felt working with Stratos would be the best path to achieving our goals,” Spain said.
He cited the national firm’s “strong” reputation in the state and beyond, as well as its technological and practice management solutions, which he expects will allow his practice to thrive along with their clientele.
“I’ve known Hank for years and have a deep respect for his approach to client service,” said Jeff Concepcion, founder and CEO of Stratos Wealth Partners. “I’m thrilled Hank and Dayna have joined us as they continue to grow their business by taking advantage of Stratos' scale and scope to enhance the way they support their clients.”
In April, Stratos Wealth Advisors significantly bolstered its network in northern Nevada as it added a $500 million multigenerational team from RBC.
The national RIA’s sibling private wealth division also revealed plans to boost its bicoastal profile with a master plan to expand in the East Coast, emphasizing New Jersey and Westchester, New York.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
