RESTON, Va., Aug. 29, 2016 /PRNewswire/ -- Transparent family wealth advisors PagnatoKarp announced today the expansion of their registered investment advisory (RIA) firm to serve high net worth clients via a new business unit called True Fiduciary™. The branch will be managed by a new 4-person team that has transitioned to PagnatoKarp from Convergent Wealth Advisors with assets of +$100M under management by Bill Bancroft, Drew Woolridge, Kevin Smith and Dawn Page.
A family office for ultra-high-net-worth individuals, entrepreneurs and their families since the formation of the firm earlier this year, PagnatoKarp created ten True Fiduciary™ principles that drive their customer focused philosophy. The new business unit for high net worth individuals with investable assets between $1 and $8 million will rely on these guiding principles for the high net worth clients they serve.
"We have long been committed to serving the best interest of our clients and we firmly embrace the Department of Labor's fiduciary rule," said Paul Pagnato, founding partner, PagnatoKarp. "We believe our True Fiduciary™ principles are important for the currently under-served market of high net worth investors and there is no one better suited to lead these efforts than Bill and his team."
"Our goals of serving a broader group of people with holistic wealth management are well aligned," said Mr. Bancroft. "PagnatoKarp always seeks to put clients first and that's what we want to focus on. True Fiduciary™ is at the heart of what we believe and we are excited to be a part of this."
Convergent Wealth Advisors of Potomac, MD was acquired by Pathstone Family Office, LLC last week.
Founded by Paul A. Pagnato, a Barron's Top 100 Financial Advisor (2013-2016) and ranked on the America's Top Wealth Advisors of 2016 by Forbes and David W. Karp, PagnatoKarp is a transparent family wealth advisor. PagnatoKarp specializes in ultra-high-net-worth individuals, families and entrepreneurs. The firm represents $2.5 billion in assets under advisement, and its family office supports all aspects of sudden wealth events so their clients can confidently get on with their life's endeavors while pursuing the protection and preservation of their wealth. PagnatoKarp strives to adhere to the True Fiduciary™ standard it designed to assure clients it is always seeking to act in their best interests. Learn more at www.pagnatokarp.com.
Media Contact: Kim Kakac