Siebert Financial Corp., the discount retail brokerage firm founded by the late Mickie Siebert, is expanding into the financial planning business.

The New York-based firm on Wednesday announced that it had formed Siebert Investment Advisors, an SEC registered investment advisor. The new unit will offer financial planning utilizing various wrap account strategies, Joseph Ramos, the firm’s chief operating officer, said.

“Our customers, over time, have approached us about managing their money. We listened and have opened up this investment advisory group,” Ramos said. Siebert Financial has about 35,000 accounts with $7 billion in customer assets.

The new unit is affiliated with Brinker Capital, a “wrap strategist” that uses mutual funds to come up with investment strategies based on a customer’s profile, Ramos said. Through this affiliation, clients will have access to Brinker Capital’s Destinations Mutual Fund Wrap Program. The RIA also partnered with Malvern, Pa.based money manager Palladiem to provide investment products and services to clients. 

“We’re basically outsourcing the wrap strategy to two well-established groups, and we think that will provide our customer base with what they’re looking for,” Ramos said.