Stratos Wealth Partners, a Beachwood, Ohio-based registered investment adviser overseeing $18.61 billion, has increased its minority equity stake in San Diego-based BWM Financial, which advises on $1.5 billion.
“After making a strategic investment in BWM Financial two years ago, Stratos is excited to take our exclusive partnership with this exceptional firm to the next level, bringing our stake to 33 percent,” Lou Camacho, COO of Stratos Wealth Holdings, the RIA firm’s corporate parent, said in a statement.
BWM was founded by Jeff Brown in 1996. In 2021, BWM acquired Stratos-affiliated Truuwater Financial, which is also based in San Diego.
Federal prosecutors say the scheme used fake investment accounts and a fictitious financial advisor to lure victims into romance-fueled fraud.
Morgan Stanley sought to claw back recruiting bonus money from Darryl Cohen.
Referrals from centers of influence may open the door, but the real key to success for advisors comes from clarity about their ideal clients and where they want to show up.
Three advisor groups overseeing more than $700M in combined client assets head to new firms.
New research finds most Americans fear a US retirement crisis, while skepticism grows toward AI financial advice and crypto in retirement plans.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
