BEACHWOOD, Ohio, April 1, 2020 /PRNewswire/ -- Stratos Wealth Holdings, LLC, a family of companies that collectively oversees $14.5 billion in brokerage and advisory assets, announced today that Emigrant Partners has acquired a minority stake in the firm.
This investment will provide Stratos with increased balance sheet capital to further invest in its business and expand its capabilities for current affiliates and to position them as a partner of choice for succession planning in the industry.
Jeff Concepcion, Founder and CEO of Stratos, said, "I couldn't be more pleased about the opportunity to partner with Emigrant. The talent their team brings to the table will help us elevate our offerings to our current partners and those who join the Stratos network going forward."
Karl Heckenberg, President and CEO of Emigrant Partners, said, "Under Jeff's leadership, Stratos has established itself as a leading firm in the RIA space. Through a dynamic blend of organic and inorganic growth, the business has rapidly achieved scale and established itself as a market-leading RIA with immense future potential."
Stratos was represented by the Asset & Wealth Management group of Raymond James Investment Banking and Walter | Haverfield served as their legal counsel.
Stratos Wealth Holdings, LLC
Stratos Wealth Holdings, LLC is a family of companies, collectively advising on $14.5 billion in brokerage and advisory assets. Stratos companies include Stratos Wealth Partners, Stratos Wealth Advisors, Stratos Wealth Management, Stratos Wealth Enterprises, and Fundamentum. Stratos includes a national network of 300 experienced financial advisors and financial planning practitioners working across 87 offices throughout the country. Stratos is headquartered in Beachwood, OH.
As of December 31, 2019, Stratos Wealth Partners, an SEC Registered Investment Advisor, manages over $6.9 billion in advisory assets, and advises through LPL Financial, over $6.3 billion in brokerage and third party managed assets for a total of 13.2 billion; Stratos Wealth Advisors, LLC an SEC Registered Investment Advisor, manages over $885 million in advisory assets; Fundamentum, LLC an SEC Registered Investment Advisor, manages over $452 million in advisory assets.
All entities listed are separate from and unaffiliated with LPL Financial.
Emigrant Partners, LLC
Emigrant Partners ("EP") makes non-voting minority investments into wealth, asset and alternative asset management firms to help them achieve their goals. EP and its affiliate Fiduciary Network are currently partnered with 15 firms overseeing approximately $50B in aggregate AUM and AUA. Emigrant Partners is wholly owned by New York Private Bank & Trust and is headquartered in New York City. www.emigrantpartners.com
SOURCE Stratos Wealth Partners