Sowell Management Launches OCIO Unit, Taps Exec as CIO
Registered investment advisor Sowell Management has launched a new investment division, which is targeted towards providing advisors with access to various investment strategies.
The Office of the CIO combines due diligence, investment research, portfolio construction and investment management.
Additionally, advisors across Sowell’s network can choose to “remain actively involved in portfolio decisions or delegate certain responsibilities,” to the new OCIO, according to Sowell.
“The Office of the CIO is about raising the ceiling on what an independent advisor can offer,” said Daryl Seaton, Chief Executive Officer and president of Sowell Management.
Sowell has tapped Scott Dooley as Chief Investment Officer to lead the new division. Dooley initially joined Sowell as managing director of investment management last February.
Dooley’s team includes director of relationship management Evan Sowell and chief investment strategist Jason Hsu, according to Sowell’s website.
Before joining Sowell, Dooley founded Fusion Investment Group, where he served as CEO and CIO. He also held various senior positions at Blue Vase Holdings, Rayliant Global Advisors, and Columbus Macro.
“Independent advisors don’t necessarily need another investment provider. They need an investment office they can draw on as part of their own business—one that brings perspective, research and independent judgment to the decisions they make for clients,” said Dooley.
Last May, private equity firm Merchant Investment Management took an undisclosed minority stake in the firm, after Sowell launched its advisor partnership program.
Merchant’s minority stake in Sowell will fund the program and will also be used to accelerate its technology and investment management capabilities, along with bolstering the firm’s M&A strategy.
Arkansas-based RIA Sowell Management, which was founded by Bill Sowell in 2001, manages over $6.8 billion in client assets as of October.
Pictured: Scott Dooley