Stratos Wealth increases investment in financial planner BWM Financial

0

Stratos Wealth Partners, one of the Beachwood-based registered investment advisers belonging to the Stratos Wealth Holdings family of companies, said it has increased its minority stake in San Diego-based BWM finance.

Financial terms of the agreement were not disclosed.

Stratos first invested in the company, which has already made its mark on brown wealth management, in May 2020. This deal followed Stratos selling a minority stake in its own business to émigré partners in New York a month earlier.

In February 2021, BWM purchased the Stratos subsidiary and Truuwater Financial of San Diego. The combined company reported $1.2 billion in assets under management at the time.

Stratos said its initial investment in BWM gave it a 25% stake in the company. Stratos Wealth Holdings Chief Lou Camacho said this additional investment increases the stake to 33% and “allows us to accelerate the growth of a business that has reported some of the strongest results within our network.”

“We are very pleased with the outcome of our decision in 2015 to join this network of renowned financial advisors, which has expanded, grown and increased our services to Southern California clients,” said the founder. of BWM Jeff Brown in a statement. “Following the strategic investment in 2020, BWM Financial’s partnership with Stratos ultimately shattered all expectations and provided our team not only with the tools and solutions we needed on executive leadership and M & A, but a true partner with shared values ​​and goals.”

The Stratos umbrella includes Stratos Wealth Partners, Stratos Wealth Advisors, Stratos Wealth Businesses, and Fundamentum. Stratos’ global network includes 350 financial advisers working in 26 states and approximately $18.61 billion in brokerage and advisory assets, according to the company.

Share.

Comments are closed.