Clearstead Welcomes Robert Thornton as Executive Chairman
Clearstead's New Leadership with Robert Thornton
Clearstead Advisors, LLC has appointed Robert "Bob" Thornton as the new Executive Chairman and Chairman of the Board. With an impressive career spanning over 30 years, Mr. Thornton brings a wealth of experience in wealth management, mergers and acquisitions, advisor recruiting, and investment banking.
Mr. Thornton’s Background
Before joining Clearstead, Thornton served as President of First Republic Bank Private Wealth Management. He played a vital role in growing the institution's assets from under $15 billion to over $250 billion in just 15 years. Under his leadership, over 150 high-caliber investment advisors were attracted to the organization, enhancing their services for high-net-worth clients.
Experience with Prominent Firms
Thornton's career includes significant positions at some of the most prestigious firms in finance. His resume highlights experience with Deutsche Bank, Lehman Brothers, Credit Suisse, and Goldman Sachs. He holds a Bachelor’s Degree in Political Science from Duke University and a J.D. from Columbia Law School, equipping him with a solid foundation for his new role at Clearstead.
Contributions to Clearstead
Brad Knapp, President & CEO of Clearstead, expressed enthusiasm about Thornton's appointment, stating, "Bob is a strong, accomplished industry veteran who brings significant experience and broad perspective to Clearstead." According to Knapp, Thornton's national insight and strategic vision will be crucial for the company as it continues to evolve. Clearstead is poised for future growth, and Thornton’s leadership will play a vital role in shaping the company's direction.
Welcoming Reaction from Shareholders
Flexpoint Ford, Clearstead's largest shareholder and sponsor, has also voiced its approval of Mr. Thornton's leadership. The firm has experienced remarkable growth, tripling its revenue in the last three years while expanding its reach and service offerings. Flexpoint Ford Managing Directors Daniel Edelman and Steve Begleiter noted that Thornton's strategic acumen and extensive experience in leading wealth management organizations will add immense value to Clearstead's board.
Thornton's Vision for Clearstead
Reflecting on his new role, Thornton stated, "I am very excited to join Clearstead and to work with its leadership and colleagues dedicated to meeting the needs of clients.” He emphasized that Clearstead has built a robust platform poised for continued growth and success in the wealth management sector.
About Clearstead Advisors, LLC
Founded in 1989, Clearstead Advisors, LLC is a dynamic financial advisory firm based in Cleveland. The firm manages assets exceeding $47 billion for private clients and institutions. For families, individuals, and related entities, Clearstead combines financial and tax planning with investment management, providing a comprehensive suite of services. The firm also serves more than 250 institutional clients, allowing them to develop investment policies and allocate assets effectively.
Client Services
Clearstead's tailored approach integrates various financial services, ensuring that clients receive personalized solutions for their unique needs. This includes investment selection and performance reporting to maintain compliance and meet specific investment goals. The firm's commitment to excellence and strategic insight underlines its reputation as a leading advisory firm.
Frequently Asked Questions
Who is the new Executive Chairman of Clearstead?
Robert "Bob" Thornton has been appointed as the Executive Chairman and Chairman of the Board of Clearstead Advisors, LLC.
What was Robert Thornton's previous position?
Before joining Clearstead, Thornton served as President of First Republic Bank Private Wealth Management.
How much did First Republic Bank grow under Thornton's leadership?
Under Thornton's leadership, First Republic Bank grew its assets from less than $15 billion to over $250 billion.
What firms has Thornton worked with in his career?
Thornton has worked with leading firms, including Deutsche Bank, Lehman Brothers, Credit Suisse, and Goldman Sachs.
What is Clearstead's total assets under management?
Clearstead manages over $47 billion in assets for private clients and institutions.
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