In order to open its location in Northern Nevada, a group of senior wealth managers from RBC Wealth Management have been appointed by Stratos Wealth Advisors (Stratos), a division of Stratos Wealth Holdings.
Fidelity will operate as the team’s sole custodian and this gives the team access to a diverse selection of products and services that can help them meet the demands of their customers.
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Reno Tahoe Wealth Management is a team led by Peter Bessette, Dan Roberts, Carla Bessette, Erich Brenner, Sonni Schafer, and Drew Bessette that oversees assets belonging to clients totalling over $500m.
Stratos Wealth Advisors will incorporate the new company, but P Bessette had previously worked as the Reno branch manager for RBC Wealth Management.
Charles Shapiro, a Stratos founding partner and chief development officer: “Peter and his team have established a reputation for putting clients’ needs first, whether they are individuals or institutions. Peter’s reputation as a firm leader positions Reno Tahoe Wealth Management for growth in the Northern Nevada region. The Stratos team will focus our efforts on supporting practice management, succession planning, technology, and enhanced client investment solutions. This will help the team with their long-term growth strategy.”
A multi-generational family team poised for growth
P Bessette, a 42-year industry veteran, worked closely with Roberts and Brenner when he joined RBC Wealth Management in 2000.
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By GlobalDataIn 2000, his spouse Carla—who has worked for 30 years in the industry joined RBC as a vice president and financial adviser. Later in 2020, their son Drew started working as a wealth planning associate.
P Bessette shared: “After deciding to become independent advisers, we wanted a partner to help us make that transition while also developing and executing a long-term growth strategy with an eye towards the next generation. The values and vision Stratos presented as we considered our next steps gave us the confidence that Charles and the entire leadership team were the right people to help us meet our current and future needs.”
Rohit Mahna, head of client growth at Fidelity Institutional Wealth Management Services added: “We are thrilled to welcome Reno Tahoe Wealth Management to the Fidelity platform and look forward to supporting them as they enter the next major stage of their growth journey. This next step reflects the team’s dedication and long-term commitment to serving their clients and we are eager to provide the products and services needed to help further their goals.”
In addition, Stratos will increase its investment in BWM Financial to a majority stake and rebrand it as Stratos Private Wealth. Jeff Brown, CEO and founder of BWN, will serve as president of the new division and report to Lou Camacho, president of Stratos Enterprises.
