Stratos Wealth Recruits $700M California Team
Stratos Wealth Partners, a subsidiary of Stratos Wealth Holdings, has recruited Redwood City, CA-based Pettinelli Financial Partners, which has $700 million in client assets.
Stratos welcomes a team of 20 advisors and staff led by founder and firm ambassador Dennis Pettinelli and President Jon Pettinelli, who formerly worked for Osaic subsidiary Royal Alliance.
Royal Alliance and other brands of the former Advisor Group were merged last year, and the resulting companies were rebranded as Osaic in June.
Dennis Pettinelli founded Pettinelli Financial Partners, and Jon Pettinelli joined in 2001, becoming president in 2020. Stratos will assist the firm in transitioning its leadership from Dennis to Jon Pettinelli. Stratos will also offer services through its investing business, Stratos Investment Management, formerly known as Fundamentum.
“We chose Stratos Wealth Partners because we wanted a hybrid firm with multiple custodians that could help us create efficiency and scale to enable our continued growth,” said Jon Pettinelli.
Stratos Wealth Partners managed approximately $11.8 billion in advisory assets as of the end of 2023 and, through LPL Financial, advised on over $8.4 billion in brokerage and third-party managed assets. Stratos Wealth Holdings appointed Phil Nuttall as COO in August 2023. Stratos Wealth Holdings’ subsidiary, Stratos Wealth Advisors, hired advisor Robert A. Hamer in June, with assets totaling $250 million.
