The two financial advisory groups, California Wealth Transitions and Overlake Partners, brings the total recruited assets under management (AUM) on the WWM platform to over US$1 billion.
Post-completion of the transition by the end of 2012, WWM’s recruited AUM will have increased 900% over the past twelve months, compared against US$100 million in AUM in December 2011.
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Commenting on the move, Rob Bartenstein, CEO of Washington Wealth Management LLC, said: "We are delighted that both California Wealth Transitions and Overlake Partners have chosen to partner with us. Each group is singularly unique, comprised of driven, successful professionals who share our vision of the value our firm can add to independent financial advisor teams."
Overlake Partners is an independent financial advisory practice that focuses on delivering an integrated set of products and services to its clients. The practice is led by John Wilbourne, principal at Overlake Partners, who has over 18 years of industry experience and was most recently with Wells Fargo Advisors.
California Wealth Transitions, on the other hand, consists of a team of former wirehouse advisors who offer a unique and comprehensive approach to estate and investment planning. California Wealth Transitions is led by Keith Brandt, the practice’s president, who was previously with Merrill Lynch and has nearly 30 years of industry experience.
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