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Stonebridge Monetary Group, the $1.5 billion wealth administration and company retirement providers agency, has discovered the primary advisor for its newly launched 1099 RIA platform.
WhiteCliff Wealth Administration CEO Robert Seiden is becoming a member of Stonebridge’s new RIA, which launched in early February after preparation that started within the third quarter of final 12 months.
Seiden entered the trade in 2009, in response to Stonebridge. His historical past consists of stints at Morgan Stanley, Merrill Lynch and LPL Monetary (amongst others) earlier than touchdown at Triad Advisors in 2018, in response to his IAPD profile (in 2018, Triad recruited Stonebridge from Wells Fargo). Seiden managed $30 million at WhiteCliff.
Stonebridge Director and COO Cody Gehman mentioned the agency was “thrilled” Seiden was its first advisor for the 1099 platform, significantly after partnering with him for greater than 5 years.
“We’re additionally excited to service extra advisors similar to Bob who keep their very own model however are on the lookout for an outsourced resolution for compliance, consumer operations and portfolio administration,” Gehman mentioned.
Although Stonebridge now presents advisory providers by way of its personal RIA after leaving Triad’s company RIA, it’s nonetheless dually registered with Triad performing as its dealer/supplier.
The Doylestown, Penn.-based Seiden presents monetary planning, investing and danger administration by means of his agency and mentioned becoming a member of Stonebridge’s 1099 platform was an “simple resolution” for a solo practitioner like himself, touting the portfolio administration, compliance and normal back-office help.
Stonebridge is concentrated on working with purchasers in central Pennsylvania, however the brand new RIA setup will make it simpler to help advisors regionally and all through the nation. Making the change necessitated repapering all of the agency’s funding agreements. In accordance with Stonebridge, the agency works with company purchasers, in addition to households, enterprise homeowners and establishments.
Initially, Triad was a subsidiary of Ladenburg Thalmann, however in early 2020, Advisor Group acquired Ladenburg, creating one of many trade’s largest dealer/supplier networks with about 11,300 advisors and greater than $450 billion in consumer property (Advisor Group later rebranded to Osaic).
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