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Stratos Wealth Network Recruits $1 Billion In Client Assets1; Names Fidelity Veteran Lou Camacho President Of Stratos Wealth Alliance

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Stratos Wealth Network Recruits $1 Billion In Client Assets1; Names Fidelity Veteran Lou Camacho President Of Stratos Wealth Alliance

Fast-Growing Group Hits $7.7 Billion in AUA and $5.6 Billion in Brokerage with Recruitment of Four Independent Practices to Platform

Camacho to Spearhead Acquisitions of RIAs and Other Independent Financial Advisor Businesses to Augment Robust Recruiting Growth

PR Newswire

BEACHWOOD, Ohio, Aug. 30, 2018 /PRNewswire/ -- Stratos Wealth Network, dba of Stratos Wealth Holdings ("Stratos"), a family of companies with total AUA of $7.7 billion, plus an additional $5.6 billion in brokerage assets with LPL Financial through Stratos Wealth Partners, today announced that it has completed the recruitment and transition of four independent financial advisory practices with approximately $1 billion in client assets.  The transition of these new recruits puts the firm well ahead of its three-year growth goal of reaching $100 million in revenue, set forth in September 2015. Today, Stratos encompasses a 60-person home office support staff, 87 offices nationwide and 284 financial advisors throughout the country.

Jeff Concepcion, Founder and Chief Executive Officer of Stratos, said, "We're thrilled to complete the transition of these highly successful independent financial advisor practices to our platform."  Stratos has become one of the nation's leading hybrid RIA and Super-OSJ groups because of its proven ability to drive significant growth for financial advisors across business and affiliation models.

Concepcion added, "No matter where advisors are in their professional life-cycle, or how they choose to serve clients, we can advance their growth through our collaborative and supportive culture, together with our total commitment to providing an array of value-added tools and resources that are second to none in the industry."

Stratos leverages its network to provide advisors comprehensive support in the areas of transition solutions, marketing, technology, compliance and succession planning resources. Additionally, Fundamentum, the firm's asset management arm, offers Stratos-affiliated advisors more than 25 portfolio strategies, ranging from individual equities-focused approaches to exchange-traded funds.

In a related move, Fidelity veteran Lou Camacho was named President of Stratos Wealth Alliance. His division will focus on bolstering the overall growth strategy of Stratos by acquiring promising financial advisory practices. The independent financial advisor businesses acquired by Stratos Wealth Alliance will become part of a dedicated RIA and focus on full integration.

Mr. Concepcion continued, "Since our founding in 2009, we've generated a 43% eight-year compound annual growth rate (CAGR) in total AUA and a 47% eight-year CAGR in revenue.  That result has been acquired through substantial organic growth of our existing partners, in conjunction with a successful recruiting effort that seeks to add one new city to the network each month. We've also positioned ourselves in recent years as an emerging leader with acquisitions of RIA firms and other independent advisor businesses.  Adding Lou Camacho to our leadership team to spearhead our acquisitions strategy is a key step needed to substantially accelerate our future growth."

Stratos recently completed the recruiting transition process for the following four independent financial advisory practices:

  • Clapboard Hill Private Wealth, led by Thomas Pacilio and Daniel Besse, with $230 million in client assets, based in Westport, CT.
  • Independent financial advisory practice led by Michael Feller, with $170 million in client assets, based in Boonville, IN.
  • Generations Investment Management, led by Jason Hostetler and Tina Migge, with $150 million in client assets, based in Canton, OH.
  • Riverview Wealth Partners, led by Anthony Pratt and William Baker, with $450 million in client assets, based in Wexford, PA.

In addition, Stratos recently finalized its fifth acquisition by purchasing Heald Financial Advisors, located in Marlton, N.J., with $120 million in client assets. 

Based on its positive year-to-date results and strategic success, Stratos also announced forward-looking plans to expand the firm's total clients assets to $20 billion by 2021.

Lou Camacho, President of Stratos Wealth Alliance, said, "I look forward to this new chapter in my professional life as a member of the Stratos team, which has positioned itself as a top destination for advisory practices throughout the country.  My decision to join Stratos was driven by my desire to join forces with an organization that is focused on creating value for advisors beyond traditional payout structures.  Stratos not only delivers a compelling raft of advisor support resources, but also offers a welcoming and friendly culture that constantly informs the advisor and client experience."

Mr. Concepcion concluded, "Looking ahead, we see enormous opportunities to reinforce our industry leadership, thanks to our unique advisor service culture, strong capital position and willingness to invest in the future.  We're excited to continue the strong momentum we have generated in supporting the businesses of advisors who work in association with us, and in recruiting as well as acquiring financial practices to our platforms."

About Stratos Wealth Network
Stratos Wealth Network is a family of companies focused on supporting the growth and success of financial advisors across business models and affiliation structures.  Stratos companies include Stratos Wealth Partners, Stratos Wealth Advisors, Stratos Wealth Management, Stratos Wealth Alliance, Stratos Wealth Enterprises, and Fundamentum. Stratos includes a national network of 284 experienced financial advisors and financial planning practitioners working across 87 offices throughout the country.

Stratos provides custodial services through Fidelity Investments, Charles Schwab, TD Ameritrade, and LPL Financial. Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Stratos Wealth Partners, a registered investment adviser and a separate entity from LPL Financial.

Stratos Wealth Partners, an SEC Registered Investment Advisor, manages over $5.89 billion in advisory assets, and advises through LPL Financial over $6.92 billion in brokerage and third party managed assets, for a total of 12.8 billion as of June 30, 2018.

Stratos Wealth Advisors, LLC, an SEC Registered Investment Advisor, manages over $368 million in advisory assets as of June 30, 2018.

Fundamentum, LLC, an SEC Registered Investment Advisor, manages over $236 million in advisory assets as of June 30, 2018.

1Client assets serviced by recruited advisors is based upon assets prior to leaving their former firm. 

Media Contacts:
Joseph Kuo / Mitch Manning
Haven Tower Group LLC
424 652 6520 ext 101 or 108
jkuo@haventower.com or mmanning@haventower.com

 

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SOURCE Stratos Wealth Network

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