U.S. Wealth Management, an independent network of wealth managers, has added two financial advisory practices to its platform, expanding its total recruited advisory and brokerage client assets.
With the addition of Equity Planning Inc. and the advisory team of Benjamin Haas and Christopher Sabosik, which is based in Lehigh Valley, Pa., USWM increased its total assets under advisement to over $600 million, up from $350 million at the beginning of this year. By this time next year, the Braintree, Mass., company expects to have more than $1 billion.
We are delighted to welcome these two exceptional advisory practices to U.S. Wealth Management, John P. Napolitano, USWM's CEO, said in a statement. By joining our platform, these experienced advisors--Marc Schliefer and his team at Equity Planning Inc., as well as Benjamin Haas and Christopher Sabosik--have further demonstrated the strength of U.S. Wealth Managements value proposition for independent advisors around the country, while extending our recent history of growth.
For all of their commission-based securities transactions, both the Lehigh Valley group and Equity Planning will utilize LPL Financial, USWMs broker-dealer. All of their fee-based activities will be handled by U.S. Financial Advisors LLC, USWMs RIA.
U.S. Wealth Managements relationship with LPL Financial, in particular, provides us with the national scale, unbiased research and comprehensive array of tools, resources and technology we need in order to continue to grow and strengthen our practice, said Schliefer, president of Equity Planning Inc.
Founded in 1963, Equity Planning advises on about $250 million in client assets and is headquartered in Bethesda, Md. The Haas-Sabosik group and has approximately $60 million in assets under advisement.
U.S. Wealth Management has built an exceptional team that understands our desire for independence, said Haas, while at the same time giving us access to a wide network of experienced professionals, excellent back and middle-office resources, a strong marketing presence and other tools that will help us--and our clients--pursue our goals for the future.