A new Registered Investment Advisor (RIA) hybrid will be added to the core wealth management model of Benjamin F. Edwards as the firm celebratesits tenth year in business, Benjamin F. Edwards & Co. company officials announced. The firm also closed out 2017 by opening new branches in Geneva, Ill., a western suburb of Chicago, and Hiawatha, Iowa, located outside of Cedar Rapids, the officials added.
With one of its strongest growth years ever, the firm brought 2017 to a close with a total of eight new offices, added a total of 32 advisors to new or existing locations and boosted assets under management (AUM) to $23 billion – an increase of 25 percent from a year ago.
RIA Initiative: More Options For Advisors And Clients
“We had an exciting 2017 and enjoyed great results as we continued to serve our existing clients and advisors, while also building out our branch network,” said Benjamin F. (Tad) Edwards IV, Chairman, CEO and President of Benjamin F. Edwards & Co. “Adding a hybrid RIA channel enables us to build on this momentum and offer yet another option to attract successful advisors, with primarily fee-based client portfolios, who find our client-first culture, 130-year legacy, independence, and service appealing.”
The firm currently enjoys dual registration as a hybrid RIA and a broker-dealer. When the new channel is formally introduced, it – like Benjamin F. Edwards & Co. – will be a subsidiary of Benjamin Edwards Inc. As a hybrid, the new RIA operation will support advisors who primarily work with their clients under a fee-for-advice model, while accommodating transactional relationships.
“We believe adding this new business line will reinforce our reputation as a firm that puts its advisors squarely in the driver’s seat and gives them the tools and resources to interact with their clients in the manner that best serves the client-advisor relationship,” Edwards said.
Branch Office Openings and Advisor Recruitment Strong In 2017
With new branches opening before the end of the year in the western Chicago suburb of Geneva, Ill. and Hiawatha, Iowa, a suburb of Cedar Rapids, Benjamin F. Edwards & Co. finished out 2017 with a total of eight new locations, which brought with them 15 advisors. In addition, 17 advisors joined offices already open in the firm’s network.
Benjamin F. Edwards now employs a total of 246 advisors who are working in its 67 offices in 26 states coast to coast.
“Advisors appreciate our entrepreneurial environment, client-first culture, and our willingness to let them handle their client accounts as they see fit without mandates or quotas,” said Marty Altenberger, Executive Vice President and Director of Branches. “You combine these qualities of independence with our robust product and service offerings, and home office support, and you have a win-win for advisors and their clients.”
Year-End Branch Additions
At the two newest locations, three advisors came aboard bringing with them a combined total of $188 million in assets under management (AUM).
Joining the firm are the following individuals (by location):
Geneva, Ill.: The Morgan Wealth Management Team
Craig Morgan, Branch Manager, Managing Director: With more than 40 years working in financial services, Morgan concentrates on helping clients reach their financial goals by relying on regular consultations and a diversified assortment of fee-based money management firms. Outside of work, Morgan has made numerous contributions to his local community. He is a past board member for Delnor Hospital; a past co-chair for the St. Charles Country Club Charity, which raised over $500,000 for both Lazarus House and Tri-City Health; and he served on the endowment committee for St. John Neumann Church.
Craig (C.J. Morgan), Jr., Financial Advisor: When C.J. Morgan, Craig’s son, entered the financial services business in 2006, they formed the Morgan Wealth Management team. C.J. Morgan is active in his local community. He is past president of the Saint Charles Breakfast Rotary and past president and director emeritus of the Saint Charles Public Library Foundation. He is also a fundraising director for the Fox Valley Entrepreneurship Center and the Elgin Youth Symphony Orchestra.
Kari Beyer also joined as a Senior Registered Financial Client Associate, and Marci Rissman came aboard as a Senior Financial Client Associate.
Hiawatha, Iowa (a suburb of Cedar Rapids)
David Kelty, AAMS®, Vice President – Investments: With more than 14 years of experience in financial services, Kelty earned his Accredited Asset Management Specialist designation in 2004. Before moving into financial services, Kelty retired from the United States Army as a lieutenant colonel. He concentrates on helping clients identify their investment objectives and structuring portfolios designed to meet them.
Assisting Kelty as a Senior Client Associate is Melissa Washington.
About Benjamin F. Edwards & Co.
With a tagline of “Investments for Generations,” Benjamin F. Edwards & Co. is headquartered in St. Louis, Mo. The firm was founded in 2008 by Benjamin F. (Tad) Edwards IV, opened its first branch in 2009, and currently has 67 offices in 26 states and more than 500 employees.
A subsidiary of Benjamin Edwards, Inc., Benjamin F. Edwards & Co. is a full-service brokerage and a Registered Investment Adviser and offers a wide array of financial products, advisory, and investment banking services to its clients and financial advisors. For more information about Benjamin F. Edwards & Co., please visit the firm’s corporate website, benjaminfedwards.com, GetInAtBenEdwards.com for advisors, or follow the company on Twitter.com/GrowWithBFEC.