Redwood City-based RIA with $700 million Joins From Osaic's Royal Alliance
BEACHWOOD, Ohio, Feb. 22, 2024 /PRNewswire/ -- Stratos Wealth Partners (Stratos), a part of Stratos Wealth Holdings, today announced it has successfully recruited Pettinelli Financial Partners of Redwood City, California with $700 million in total client assets.
Founder and Firm Ambassador Dennis Pettinelli, President Jon Pettinelli and their team of 20, which includes advisors and support members, will join Stratos. The firm was formerly affiliated with Osaic's Royal Alliance.
"Dennis, Jon and their team have built an incredible business helping multi-generational clients achieve financial goals and preserve wealth for future generations," said Charles Shapiro, a Stratos founding partner. "We look forward to supporting their needs in practice management, recruiting and investment management strategies."
Dennis launched Pettinelli Financial Partners after a long career recruiting, training and developing financial professionals for John Hancock. Jon joined the firm in 2001, becoming the Director of Operations in 2005 and then President in 2020. Stratos will help complete Pettinelli Financial Partners transition its leadership from Dennis to a management team led by Jon.
Jon said, "We chose Stratos Wealth Partners because we wanted a hybrid firm with multiple custodians that could help us create efficiencies and scale to enable our continued growth. Stratos also offers advisor support and portfolio management solutions to deepen our client relationships."
Pettinelli Financial Partners will also engage the services of Stratos Investment Management, formerly Fundamentum, a portfolio management and Registered Investment Advisor that is part of the Stratos Wealth Holdings family of companies.
Dennis added, "Stratos' extensive experience driving growth in firms like ours will help guide our new leadership after our transition. But more importantly, the team at Stratos aligns with our core values and mission of delivering best-in-class results for our clients."
About Stratos Wealth Partners
Stratos Wealth Partners, Ltd., an SEC Registered Investment Advisor, manages over $11.8 billion in advisory assets, and advises through LPL Financial, over $8.4 billion in brokerage and third-party managed assets for a total of $20.2 billion of Dec. 31, 2023. Stratos offers operational, strategic and a reliable infrastructure allowing advisors the flexibility to develop and grow their business. Since its founding, Stratos has grown to 290 independent advisors, has 73 home office staff, and has more than 100 locations in the United States.
Securities offered through LPL Financial, Member FINRA/SIPC.
Investment advice offered through Stratos Wealth Partners, Ltd, a registered investment advisor. Stratos Wealth Partners and LPL Financial are separate entities.
Comments