Registered funding advisors Noah Doyle and Charles Princiotto have moved their affiliation from KKR-owned dealer/seller Janney Montgomery Scott to Wells Fargo Advisors Monetary Community, or FiNet, together with their $380 million in consumer belongings.
Their new agency, SoundRidge Non-public Wealth, shall be primarily based in New York Metropolis, the identical as their former RIA. The duo may even proceed to deal with high-net-worth people, entrepreneurs, and professionals in leisure and sports activities.
Doyle, CEO and co-founder, and Princiotto, president and co-founder, had been with Janney for over eight years. Earlier than that affiliation, that they had been advisors at Financial institution of America’s Merrill for about 5 years and first met when working at Morgan Stanley.
“Affiliating with FiNet provides us entry to top-tier assets whereas preserving the pliability and repair our shoppers worth most and have come to know and count on from us through the years,” Doyle stated in a press release.
SoundRidge integrates tax methods, property planning and funding recommendation. In accordance with its web site, the agency can be seeking to rent extra advisors as 1099 associates.
Wells Fargo’s unbiased contractor enterprise mannequin has existed for about 20 years.
This February, a Westlake Village, Calif.-based crew left FiNet with about $1.15 billion in consumer belongings to hitch LPL Monetary. In September 2024, FiNet gained a three-person, $1.8 billion crew primarily based in Chicago from wirehouse Morgan Stanley.
Janney promoted Tony Miller, its former and present president, to the CEO function earlier this yr. He took the function shortly after the deal closed for Janney to be offered to personal fairness agency KKR after over 4 a long time of Penn Mutual Life Insurance coverage Firm possession. Janney is now working as a standalone dealer/seller.