Beirne Wealth Consulting (BWC), a fast-growing, $2 billion fee-only firm, has picked up a team of financial advisors from Morgan Stanley.

BWC, an independent partner firm of Focus Financial Partners, has added Allentown, Pa.-based advisors Christopher Englebert and Daniel Reitz who previously managed approximately $250 million in client assets at Morgan Stanley. The central Pennsylvania office will be the third opened by the Milford, Conn.-based BWC in two years.

“We are proud to have Chris, Dan and their team join the firm,” John Beirne, founding partner of BWC, said in a statement. “There is a natural synergy between our investment philosophies and client base as both practices have a long history in serving institutional and private clients. Through the ongoing support and counsel of Focus, we have been able to expand our presence on the Eastern seaboard and look forward to…adding national talent in the years ahead.”

BWC was number 42 in Financial Planning’s 2013 ranking of the top 50 fastest-growing fee-only RIA firms. The independent RIA now manages roughly $2 billion in client assets and has expanded from seven to 19 employees since 2012.

Also joining BWC from Morgan Stanley are Elizabeth Garnto and Jamie Englebert. Together with Englebert and Reitz, the advisors have more than 20 years of experience advising private and institutional clients.

“Joining the BWC team will give us more flexibility and access to deeper resources in managing investments for our clients,” said Reitz in a statement. “We look forward to upholding a strict fiduciary standard to which clients of BWC are accustomed and to bringing extended capabilities to our client base.”


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