SCS Financial Welcomes New Firms to Enhance Wealth Management

SCS Financial Welcomes New Firms to Enhance Wealth Management

In a significant move for wealth management services, SCS Financial has announced that two prominent firms, Lake Street Advisors Group, LLC and Edge Capital Group, LLC, will be joining their comprehensive family of financial services. This collaboration aims to enhance the capabilities and offerings available to ultra-high-net-worth clients. This merging of resources and expertise is expected to enrich the financial landscape for both SCS and its existing clientele.

Strengthening Capabilities through Strategic Partnerships

By integrating Lake Street and Edge, SCS Financial is poised to leverage their extensive investment management capabilities along with an expanded range of family office services. These additions represent a strong commitment to providing exceptional service, which is critical for today’s clients navigating the complexities of wealth management. The efforts made through these transactions highlight SCS' ongoing commitment to excellence and its desire to elevate client experiences.

Enhanced Advisory Services

The partnership will see Lake Street and Edge bringing together more than 70 experienced advisors and professionals who specialize in serving ultra-high-net-worth clients. This collaborative effort will amplify the already impressive roster at SCS Financial, allowing the firm to further solidify its position in the competitive landscape of wealth management.

Geographic Expansion and Client Reach

With Lake Street reinforcing SCS Financial's presence in the Northeast and Edge expanding its influence in the Southeast and Southwest regions, these strategic moves are designed to broaden the reach of SCS and make their array of services more accessible. Upon completion of the transactions, SCS anticipates adding approximately $3.49 billion and $6.98 billion in regulatory assets under management, enhancing its portfolio which already surpasses $32 billion.

Commitment to Client-Centric Solutions

The leadership teams at both Lake Street and Edge express their enthusiasm regarding the new partnership. Buddy Webb, CIO of Lake Street, emphasizes the importance of addressing the evolving needs of ultra-high-net-worth families, stating that joining SCS will greatly benefit their client offering. His sentiments are echoed by Will Skeean, Chairman of Edge, who notes that the firm’s integration into SCS opens up access to invaluable resources and talent.

Tony Abbiati, CEO of SCS Financial, highlighted core values shared across the organizations, noting their commitment to providing tailored solutions and advice crucial for helping clients manage their wealth effectively. This alignment ensures a robust and comprehensive experience, focused on realizing client aspirations and goals, both personal and financial.

About the Firms Involved in the Partnership

Focus Financial Partners Inc. stands at the forefront of integrating wealth management resources through an interdependent partnership. By capitalizing on the teamwork and capabilities of numerous advisors and professionals, it fosters a culture rooted in client-first strategies. This enables its affiliated firms to realize their objectives while enhancing service delivery.

SCS Financial, a respected leader in wealth management, caters to ultra-high-net-worth clients with a suite of service offerings. Its integrated approach encompasses vital financial planning, investment management, and a robust technology platform, all designed to help clients navigate their financial futures with confidence.

Lake Street Advisors Group has built its reputation over two decades, providing bespoke financial solutions that prioritize long-lasting relationships with clients. Their ability to understand the complexities of wealth management positions them as invaluable partners in this evolving landscape.

Edge Capital Group has dedicated itself to understanding the unique financial needs of wealth holders, ensuring its services align with their clients' goals and aspirations. With a presence across key regions, Edge remains committed to supporting their clients in achieving their financial objectives.

Frequently Asked Questions

What does the partnership between SCS Financial and the new firms entail?

The partnership aims to enhance SCS Financial’s service offerings for ultra-high-net-worth clients by integrating resources and expertise from Lake Street Advisors and Edge Capital Group, expanding their investment and family office capabilities.

How will this partnership affect existing clients of SCS Financial?

Existing clients can expect an enriched service experience, benefiting from the combined expertise and resources of the three firms, ultimately enhancing the quality of financial advisory services.

What is the expected impact on SCS Financial’s assets under management?

Upon completion of the partnerships, SCS Financial is projected to increase its regulatory assets under management by approximately $10.47 billion, significantly bolstering its capabilities.

Will there be any changes to the teams at SCS Financial?

While the integration will bring in over 70 new advisors and professionals from the Lake Street and Edge teams, SCS Financial remains committed to retaining its existing talent and leadership.

What core values do the firms share?

The firms share a steadfast commitment to client-first service, tailored financial solutions, and a dedication to integrity, ensuring that they effectively address the complexities of wealth management for their clients.

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