Stratos Wealth Holdings Achieves Milestone with $3.5B Growth
Stratos Wealth Holdings Achieves Remarkable Growth in 2024
Stratos Wealth Holdings unveiled impressive results for 2024, drawing in a staggering $3.5 billion in client assets through its three main divisions. This remarkable achievement nearly triples the assets recruited during 2023, showcasing the firm’s effective strategy and the enduring appeal of their services among financial advisors.
A Breakdown of New Additions Across Stratos Wealth
Stratos Wealth Partners' Success
Stratos Wealth Partners has seen substantial success, attracting seven new advisors who bring with them an estimated $1 billion in client assets. This division commenced 2024 on a high note with the inclusion of Pettinelli Financial Partners, which transitioned from being Osaic-affiliated and introduced about $700 million in assets.
The president of Pettinelli Financial Partners, Jon Pettinelli, expressed his enthusiasm for this partnership, citing their desire for a firm that would offer versatility and efficiency in managing their growth. He emphasized that Stratos ensures significant support for advisors, enhancing client relationships through robust portfolio management solutions.
Achievements by Stratos Wealth Advisors
In a similar vein, Stratos Wealth Advisors successfully welcomed eight new advisors, representing an estimated $2.1 billion in assets. Notably, this included a breakout team from RBC Wealth Management, forming Reno Tahoe Wealth Management, which alone contributed $500 million in assets.
Peter Bessette, co-founder of Reno Tahoe Wealth Management, acknowledged how Stratos resonated with their vision, facilitating their transition to independence alongside supporting their long-term growth initiatives.
Growth at Stratos Wealth Management
Stratos Wealth Management also made notable strides, incorporating four new advisors who represent approximately $247 million in assets. This division operates under LPL Financial and manages over $299 million in advisory assets, also advising more than $667 million in brokerage and third-party managed assets, culminating in a total exceeding $966 million.
Strategic Plans for Continued Growth
Founded in 2008, Stratos Wealth Holdings has consistently focused on meeting the needs of sophisticated advisors and their discerning clients. The network allows financial advisors to choose from a variety of partnership models, helping them adapt and succeed in the dynamic wealth management landscape.
CEO Jeff Concepcion highlighted the firm’s commitment to personalized service and the robust operational support that Stratos provides. He emphasized that the experienced leadership team and dedicated staff remain focused on facilitating a thriving environment for advisors, positioning them for success in the ever-evolving industry.
About Stratos Wealth Holdings
Stratos Wealth Holdings comprises a family of companies that effectively support financial advisors through various business models and affiliate structures. The organization includes Stratos Wealth Partners, Stratos Wealth Advisors, and Stratos Investment Management, all working in concert to enhance the growth trajectory of their advisors.
Frequently Asked Questions
What is Stratos Wealth Holdings?
Stratos Wealth Holdings is a network of companies that support financial advisors across different business models and affiliation structures.
How much client assets did Stratos Wealth recruit in 2024?
Stratos Wealth Holdings recruited a total of $3.5 billion in client assets across its affiliated companies in 2024.
What are the divisions within Stratos Wealth Holdings?
The main divisions include Stratos Wealth Partners, Stratos Wealth Advisors, and Stratos Wealth Management.
Who is the CEO of Stratos Wealth Holdings?
The CEO of Stratos Wealth Holdings is Jeff Concepcion.
What types of advisors does Stratos Wealth attract?
Stratos Wealth Holdings attracts a diverse range of advisors, including independent, hybrid, and W2 advisors, offering various partnership models.
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