Washington Wealth Management (WWM) operates as an independent, hybrid registered investment adviser (RIA) that strives to enable financial advisers to achieve independence and build equity in their own businesses. NFP says the transaction better positions WWM and NFP Advisor Services Group to jointly provide the tools and resources needed by advisers to smoothly transition to, and successfully operate in, the independent adviser space.
WWM currently supports 10 fee-based and hybrid independent financial adviser teams across the nation, representing nearly $800 million in client assets.
Commenting on the acquisition, James L. Poer, president of NFP Advisor Services Group, says his firm hopes to work closely with WWM to provide support to advisers who would like to transition to the independent model. The firms will also work collaboratively to provide advisory platforms and solutions to independent adviser clients.
Robert Bartenstein, CEO of WWM, says he expects the expanded relationship with NFP to improve execution of its full-service transition model for advisers who determine independence is a better arena in which to do business on behalf of their clients.
“The combined solution is a true integrated approach, from back office support to adviser-facing technology, all within a welcoming environment filled with people who are committed to empowering advisers,” Bartenstein says. “This alignment is going to wake some people up to what’s possible in this space.”
More information is available at www.nfp.com.