Stratos Wealth Holdings Acquires 11 Partner Firms, Adding $4.8B in AUM

Stratos Wealth Holdings has acquired 11 of its partner firms, spanning across seven states, and collectively managing $4.8 billion in assets under management. 

The acquisitions, which were completed as of Dec. 31, range from solo advisors to multi-advisor teams across Ohio, Pennsylvania, California, Arizona, New York, Virginia, and Massachusetts, Stratos said. 

The firms include Fairfax, VA-based Kowal Financial Advisors, Beachwood, OH-based Jamie Turk Holdings, Rockland, MA-based Veritas Boston, Dublin, OH-based True North Wealth Partners, Pepper Pike, OH-based Spain & Smith Wealth Advisors and Pistone Wealth Advisors, Gladwyne, PA-based Windsor Wealth Management, Tucson, AZ-based Marquis Wealth Group, Chula Vista, CA-based PTM Financial, and two Stratos Private Wealth firms based in San Diego and Westchester, New York. 

The transactions were completed before asset manager SEI Investments purchased a 57.5% stake in Stratos, which was valued at about $527 million, last July. 

“Advisors today are navigating increasing complexity, from evolving client expectations to technology demands and long-term continuity planning,” Jeff Concepcion, CEO and founder of Stratos, said. “We believe the traditional succession model is evolving, and advisors are increasingly looking for strategic partners that can provide scale, resources, and flexibility without sacrificing leadership of their businesses.” 

The remaining 42.5% is owned by Stratos’ former equity holders, which also includes Concepcion, according to the firm’s filings with the Securities and Exchange Commission. 

Stratos Wealth Partners, a division of Stratos Wealth Holdings, founded in 2008, serves as a breakaway option for financial advisors, and as an LPL-affiliated RIA and an office of supervisory jurisdiction. 

Stratos Wealth Partners oversees about $18.6 billion in client assets, according to its latest Form ADV updated in May.

Pictured: Jeff Concepcion