Adding to the Growing Theme of Elite Teams Announcing Independence, Nationally-Recognized San Diego-Based Financial Team With $300 Million in Assets Under Management Leaves Morgan Stanley Smith Barney, Launches "Ibis Capital"

SAN DIEGO, March 12, 2012 /PRNewswire/ -- Adding to the growing theme of elite teams leaving major Wall Street firms, La Jolla Group of Morgan Stanley Smith Barney (Nasdaq: MS), one of the largest financial advisory teams in San Diego, left MSSB and established a new, privately-owned independent boutique wealth management firm, Ibis Capital. Using the innovative hybrid Registered Investment Advisor (RIA) model, this rapidly growing firm serves San Diego's wealthiest business owners and will be better positioned to service and manage their clients' assets in a transparent, cost effective, and conflict-free environment. The firm plans to retain 83 client relationships representing approximately $300 million in client assets in the transition.

With more than 40 years of collective advisory experience, the three Founding Partners of Ibis Capital had this to say about what the change means to their clients and the team going forward:

Neal McNeil III, CIMA, CFP® and Chief Investment Officer said, "As a privately held firm, we can now seek investments beyond a single proprietary platform. This gives us the opportunity to find previously unavailable yet truly optimal investment products that ensure our clients have a conflict-free experience. Our new structure provides us the greatest opportunity to create results and clearly illustrate that performance through leading performance reporting software."

Robert L. Meyer, CFP®, CLU and Director of Strategic and Financial Planning, is equally excited about the company's transition. "From a financial planning perspective, our team can finally draw upon a broader scope of tools and software from the 'best in class' providers and is no longer tied to proprietary software. Our clients demand sophisticated and high-end planning solutions and we are now able to offer that," he said.

Ryan Clive-Smith, MBA, CFP® and Director of Business Development, said, "At Ibis Capital we feel like we have finally created a home where we can be truly aligned with our clients. Our new venture represents a deeply personal opportunity for us to shape our own culture and to establish a higher standard of service and performance within our industry."

Ibis Capital maintains a direct partnership with their RIA, Stratos Wealth Partners, a national network of experienced financial services practitioners affiliated with LPL Financial (Nasdaq: LPLA), the nation's largest independent broker-dealer*. Through the Hybrid RIA model, Ibis Capital has chosen Fidelity Institutional as custodian, a recognized, industry leading investment platform. The combined experience and resources of these powerful organizations sets Ibis Capital apart among independent, partner-run financial services firms, not only in the Southern California area, but nationwide.

About Ibis Capital
Ibis Capital is a privately owned wealth and asset management firm located in San Diego, California. Founded with a conviction for redefining the investment relationship and challenging the status quo, Ibis Capital selects optimal investments unobstructed by a single proprietary platform or by compensation. Serving San Diego's wealthiest business owners by leading with a sophisticated and comprehensive financial planning approach, the firm's investment philosophy is to strive for absolute return - meaning that in any global environment, under any economic conditions, the ultimate goal is to identify opportunities to protect and grow clients' assets. For more information, please visit www.ibiscapital.com.  

Securities and asset management are offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.

SOURCE LPL Financial; Ibis Capital; Morgan Stanley Smith Barney