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A father-son advisor group in New Jersey has left Hornor, Townsend & Kent, an impartial dealer/vendor owned by Penn Mutual, to launch their very own registered funding advisor. Lance and Gideon Drucker, who handle $750 million in shopper belongings in Woodcliff Lake, N.J., have created Drucker Wealth.
The agency has chosen Constancy and Altruist for custody, in addition to PKS Investments as their dealer/vendor.
The Druckers had beforehand been with Hornor, Townsend & Kent for over 40 years, the place they had been the biggest advisory group for 18 straight years. Their agency has 12 folks and serves over 800 purchasers.
The advisors say the transfer was pushed by the evolution of the agency, which has been hiring and coaching new advisors every year to construct scale. It’s additionally added new providers and companion integrations.
However the mannequin had limitations, and so they wanted better customization and suppleness in expertise choices and shopper service. The transfer will present the agency with better freedom and management, they mentioned. Â
“Whereas getting up to now took quite a lot of lengthy nights and laborious work, we couldn’t be extra excited concerning the alternatives it affords us to innovate and supply even better worth to purchasers long run,” Gideon Drucker mentioned in an announcement.
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