Advisors Chuck Cooper, a 25-year veteran of the financial services industry, and Jon Garlow, who began his industry career at Wells Fargo in 2010, have formed StrongBox Wealth, based in Lee’s Summit, Mo., according to a press release from Dynasty.
The pair, who previously oversaw $300 million at Wells Fargo Advisors, are joined by Kathy Postoak, director of operations, Dynasty says. StongBox’s clients include high net worth families, business owners and entrepreneurs in Missouri, Kansas, Colorado, Texas, Florida and Arizona, according to the press release.
“With StrongBox Wealth, we have intentionally built a business model for scalable growth. We plan to expand the firm through highly selective partner advisor additions, as well as establish an affiliated network model for breakaway advisors desiring to join an established RIA,” Cooper says in the press release. “We believe that many advisors seek an authentic client first model combined with true independence.”
Several large wirehouse teams have opted go independent with Dynasty’s help this year, including a four-person team from UBS, a $450 million team from Merrill Lynch and a $6 billion team from Morgan Stanley.
Wells Fargo, meanwhile, was able to hang on to another team of advisors who wanted independence. Jonathan Sarver and Peter Vrooman, who manage $285 million primarily for accredited engineers, executives, and entrepreneurs, have opted for independence after more than two decades, according to a press release from their new firm, Sarver Vrooman Wealth Advisors. However, the team, which also includes operations manager Jessica Estes and registered associate Tyler McWhirt, has opted for a non-competitive transfer to Wells Fargo Advisors Financial Network, which is the independent channel for Wells Fargo Advisors.
“Essentially, the team believes they will have the best of both worlds, the same robust technology, research, custody, and clearing platform with access to the same retirement planning, asset management, insurance, and lending capabilities of one of the world’s largest and most profitable banks, paired with the freedom and flexibility of having their own independent practice with advanced branding capabilities, team building opportunities, ability to create their own culture and office setting, and most of all enhance the client experience with additional technology and staff,” the company says in the press release.