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.
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.
Torrance, California-based EP Wealth welcomes a $900 million team in Idaho as Merit adds its first office in Utah.
The $1 trillion RIA is getting serious on inorganic growth as it welcomes the M&A veteran for a dedicated leadership role.
The undoing of the penalty, which has hung over the Wall Street bank for seven years, marks a significant victory for CEO Charlie Scharf.
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.
