The independent financial advice industry saw significant movement this week as three prominent advisory teams transitioned to new platforms, collectively moving over $550 million in client assets. These shifts underscore a broader trend of advisors prioritizing specific technological tools and support structures to serve their client bases.
Steinmetz Jackson Wealth Management Group, based in Fort Lauderdale, joined the branch channel of Ameriprise Financial. The team brings more than $370 million in assets from Janney Montgomery Scott. Kenneth Steinmetz and James Jackson cited the firm's integrated technology and financial planning resources as primary drivers for their decision to move.
In the independent advisor network, Prospera Financial Services added Abound Advisors. Led by founder Chris Palmer, this practice brings $300 million in assets from locations in Texas and California. Palmer noted that he moved away from larger institutional environments to seek a more personal service model that maintains access to current advisory technologies.
Finally, Seven Arrows Wealth moved to Raymond James Financial Services. Based in Parsippany, New Jersey, the team manages $250 million in assets. Managing partners Ben Burklow, Morgan Burklow, and Rick Vanderpool stated that the move provides them with the independence and home office backing necessary to maintain their specific service model for corporate executives and family offices.
These transitions reflect a competitive landscape where broker-dealers compete for talent by offering differentiated technology stacks and varying degrees of operational autonomy. Firms continue to prioritize advisor-to-staff ratios and planning resources as they vie for established teams managing significant client capital.