San Diego-based Planner William Blanton and his team at Vintage Wealth Capital Management brought their $170 million book of business to Washington Wealth Management this week, in the latest addition to the rapidly growing Middleburg, Va.-based RIA.
“Billy Blanton is without a doubt the epitome of the first class advisor who has his clients first in his thoughts,” said Washington Wealth’s San Diego Branch Manager Mike Ferrante. “These are the types of planners that we are looking to hire.”
A former wealth manager at Morgan Stanley Smith Barney, Blanton also is known for his run as a starting quarterback at San Diego State University in the 1990s.
At Washington Wealth Management, Blanton said in a statement, “we will be able to provide our clients with an unparalleled level of independence and a comprehensive range of services while, at the same time, having better investment tools and more products than those offered at a large firm.”
“This company has grown much faster than we thought,” said Washington Wealth co-founder and CEO Tony Sirianni. “It’s a good problem to have. You don’t want to bring five guys like Billy Blanton in the same week because that’s a big book of business.”
Since Sirianni and partner Eric Nettere co-founded Washington Wealth just over a year ago, in December of 2010, they have opened six branch offices in ten cities nationwide. The firm, which is expanding its network of independent planners, offers advisors the opportunity to become their own boss and take ownership in their business.
Recently the firm hired former J.P. Morgan Securities’ national branch manager Mike Malone to become its Midwest regional director out of Chicago. It also hired John Simmons away from Morgan Stanley Smith Barney, where he oversaw a network of 900 advisors, to run its West Coast operations.
By the end of the month, Sirianni said, he expected to announce a new addition to its operations in Northern California.
Ferrante, who will supervise Blanton added, “Our flexible hybrid model alongside management that genuinely cares about the client and the success of each advisor is the difference between the wirehouse and independent mentality.”
Ann Marsh writes for Financial Planning.