Washington Wealth Management, a breakaway RIA founded last December, continued its explosive growth by acquiring its third breakaway advisor in just the past three weeks, bringing it ever closer to $1 billion in AUM.
“We’re ahead of plan by 50% so we feel really good about that,” WWM President John Simmons said, explaining that the new company had hoped to attract $500 million in AUM in its first year after its founder Tony Sirianni broke away from Morgan Stanley Smith Barney. “Are we a juggernaut in terms of profitability? No we are not. But we are a brand new startup and profitability is improving dramatically.”
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