Stratos Wealth Network Brings on $1B In Client Assets
Stratos Wealth Network has recruited four independent financial advice practices that collectively oversee around $1 billion, according to a press release from Stratos.
Westport, Conn.-based Clapboard Hill Private Wealth, headed by Thomas Pacilio and Daniel Besse, manages $230 million, according to the press release.
Boonville, Ind.-based Michael Feller and his independent practice oversee $170 million, Stratos says.
In Canton, Ohio, Generations Investment Management, led by Jason Hostetler and Tina Migge, oversees $150 million, according to the press release.
And in Wexford, Pa., Riverview Wealth Partners, headed by Anthony Pratt and William Baker, manages $450 million, Stratos says.
The four additions were acquired by Stratos Wealth Alliance, one of the six companies in the Stratos Wealth Network, and will be part of a dedicated RIA, according to the press release.
In addition to the new recruits, Stratos also named Fidelity veteran Lou Camacho president of Stratos Wealth Alliance, the company says.
Stratos Wealth Network, which operates under the name Stratos Wealth Holdings, now has $7.7 billion in assets under advisement and a further $5.6 billion in brokerage assets with LPL Financial through Stratos Wealth Partners, Stratos says. Overall, Stratos encompasses a 60-person home office, 87 offices around the country and 284 financial advisors nationwide.
The company says it plans to expand total client assets to $20 billion by 2021.