Crux Wealth Advisors Launches Hybrid RIA with $1B

Crux Wealth Advisors has announced its launch as a hybrid RIA and full-service wealth management firm, with a first tranche of $1 billion in client assets. The firm severed ways with Raymond James Financial Services at the start of August.

Travis Alexander, Crux’s founder and CEO, led one of Raymond James’ top 10 independent contractor branches in terms of trailing 12-month revenue, with assets under management increasing from $70 million to over $3 billion in the first year.

“We’re embarking on what I would call phase two of our business. During phase one, we had to establish proof of concept and scale,” Alexander said. “Ultimately this allowed us to evolve into phase two, where we can truly innovate and optimize the firm without bureaucratic constraints or influences that are out of alignment with our values and vision.”

Founded in 2016, Crux provides financial planning and asset management services to high-net-worth clients as well as estates, charitable organizations, and pension and profit-sharing plans.

Long Beach, CA-based Crux is open to joiners such as breakaway and tuck-in advisors, it added.

Arete Wealth, Inc. will serve as the broker/dealer and insurance agency for hybrid advisors who join Crux, while BNY Pershing will handle clearing and custody services.

Manhattan-based Decerno Advisors served as a strategic advisor for Crux Wealth Management throughout the process.