Stratos Wealth Enterprises has made a strategic investment in Brown Wealth Management (BWM) headquartered in San Diego, California.
The investment amount was not disclosed.
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BWM founder Jeff Brown said: “We have spent the last two years evaluating all options for the most efficient way for BWM to scale, grow and increase the services to our clients. In the end, deepening the partnership we already had with Stratos became the best fit from all angles.
“We not only gained resources on the executive leadership and M&A front, but also increased the depth of the bench on the investment management side, while securing the succession and continuity of the firm for the future.”
BWM employs five wealth advisers along with four firm operations specialists. The business has advisory AUM of more than $600m.
Stratos Wealth Enterprises president Lou Camacho said: “We view the partnership with BWM as a major component of our growth in the SoCal market. We believe that the combination of BWM’s process driven approach and Stratos’ scale will drive growth locally and beyond.”
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By GlobalDataNotably, last month, Emigrant Partners picked a minority stake in Ohio’s Stratos Wealth Holdings, a family of investment advisory businesses.
Apart from Stratos Wealth Enterprises, Stratos Wealth Holdings includes Stratos Wealth Partners, Stratos Wealth Advisors, Stratos Wealth Management, and Fundamentum.
