February 27, 2017 – Florence, South Carolina-based Signature Wealth Strategies, (an independent team, with advisors who offer securities through Raymond James Financial Services, Inc., member FINRA/SIPC) is pleased to announce the completion of a major expansion project that includes the addition of three offices, multiple advisors and additional technology and resources that will now service clients across both North and South Carolina. Signature announced the completion of the project just three weeks after celebrating its first anniversary. The collaboration means that the company will now have a total of six Founding Partners whose financial advisors will collectively oversee approximately $550 million in assets. The firm’s expanded presence now includes offices in Florence and Greenville, South Carolina as well as offices in Charlotte and Mooresville, North Carolina.
Experienced administrator bolsters firm’s recruitment, expansion efforts
The collaboration process began in January, when Florence-based Signature Wealth Strategies added
Scott Whitley as a Managing and Founding Partner. Whitley previously worked as the Regional Director for the Mid-Atlantic Region of the Raymond James Financial Services – the Independent Contractor Division of Raymond James Financial. With more than 25 years of extensive experience in the financial services industry, Whitley provides enhanced capabilities when it comes to the firm’s expansion.
“Over the past several years, I spoke with many advisors who were concerned about their succession plan, not for themselves, but because they wanted to make sure their clients would be taken care of in the coming years,” Whitley said. “Our model allows for multiple types of affiliation, allowing us to be a resource to advisors and their clients regardless of their individual stages in the business cycle,” he continued.
“As the wealth management landscape faces rapid changes and complexity, it’s easy for many advisors to wonder if their practice will survive, much less thrive,” said one of Signature’s Founding Partners, Chip Munn. “Fee compressions, changes in compensation plans and increased scrutiny with compliance and supervision can create a difficult environment for focusing on what advisors enjoy most – working with their clients. Scott’s vast experience in Regional Supervision provides our advisors with an invaluable resource,” Munn continued.
Footprint expands with addition of two regional practices, three additional offices
Since Whitley’s arrival, the Signature Wealth Strategies team completed an acquisition of a practice in Greenville, SC that oversees more than $115 million in assets. In early February, the $120 million team of John
Chidwick, Ealon “Tripp” Thompson and the staff of Stone Street Wealth Management joined the Signature Wealth Strategies firm. Stone Street came to the firm from IFG/Russell and has locations in Charlotte and Mooresville, NC.
“As wholesalers in the Carolinas for much of the last twenty years, Tripp and I spent time with hundreds of advisors. When we started our own practice in 2014, we got the opportunity to experience the wealth management business from the advisors’ side of the desk. At Signature, we will use our collective experiences to help improve both the client and advisor experiences,” said Chidwick.
Centralized services, improved client relationships focus of firm’s future
With multiple locations across the Carolinas coming under one umbrella and six founding partners collaborating on a vision for the future, Signature Wealth Strategies has already had a busy first quarter.
“The diverse skill sets coming together at Signature represent something truly unique,” said John Tholen, Vice President of Business Development for Raymond James Financial Inc. “They’ve assembled a group of professionals whose combined and diverse talents represent the key support areas to help other advisors build and transition a successful practice.”
“We’re excited about the opportunity we see in the Carolinas in 2017. For advisors, the expansion is about the idea of independence without isolation. You can still be a part of running your own practice without feeling like you have to do everything by yourself,” Munn said. “Having the resources of a larger firm means having advisors with more time for clients because they don’t have to spend time on administrative, compliance and supervisory duties. The expansion of Signature Wealth Strategies will bring new technologies, tools and services to several of the individual teams but, most importantly, it will mean more time for personalized, one-on-one service and even stronger advisor-client relationships,” Munn continued.
About Signature Wealth Strategies
Signature Wealth Strategies is a Florence, South Carolina-based independent team whose advisors have spent more than four decades helping families and institutions plan their financial futures with confidence by providing comprehensive strategies, financial solutions and concierge-level service. In 2017, the firm expanded and Signature’s six Founding Partners and their advisors now serve clients in four locations across North and South Carolina and oversee total client assets of approximately $550 million.
About Raymond James Financial, Inc.
Raymond James Financial (NYSE-RJF) is a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies. Its three principal wholly owned broker/dealers, Raymond James & Associates, Raymond James Financial Services and Raymond James Ltd., have approximately 7100 financial advisors serving 2.9 million accounts in 2,800 locations throughout the United States, Canada and overseas. In addition, total client assets are approximately $604 billion, of which approximately $32 billion are managed by the firm’s asset management subsidiaries.
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Opinions expressed are those of Chip Munn, Scott Whitley, John Chidwick, and John Tolen and are not necessarily those of Raymond James.