PORTLAND, Ore., Oct. 13, 2015 /PRNewswire/ — Wealth management practices with both brokerage and fee-based divisions can achieve independence along with management control over their businesses through a single platform, thanks to the new strategic relationship between tru Independence and Mutual Securities, Inc.
“Mutual Securities has a long and stellar record of helping breakaway teams with broker-dealer and RIA business lines achieve independence,” said Craig Stuvland, President and Chief Executive Officer of tru Independence. “We look forward to working with the dedicated Mutual Securities team to ensure our platform is the centralized, one-stop shop for seamlessly managing the transitions, launches and growth of entrepreneurial wealth managers with separate commission- and fee-based divisions.”
Camarillo, Calif.-based Mutual Securities (http://www.mutualsecurities.com) was established in 1982 and offers hybrid services to wealth management teams that are dually registered with broker-dealers and RIAs. Mutual Securities delivers access to a clearing platform, brokerage technology, marketing and practice management programs, and capital markets expertise through National Financial Services, LLC, a Fidelity Investments Company. Since tru Independence is not a licensed broker-dealer, its relationship with Mutual Securities offers a complete hybrid solution for advisors wishing to build successful independent practices.
In addition, as part of the firms’ strategic alliance, commission-based practices that utilize tru Independence’s platform—but are hesitant about the compliance and operational responsibilities of running their own RIA—can take advantage of Mutual Securities’ affiliate RIA, Mutual Advisors, which currently has more than $300 million in assets under management. Mutual Advisors will enhance its RIA offering with the use of tru Independence’s technology and services, including access to high-powered research and analysis tools.
“Mutual Advisors is a valuable platform for breakaway advisors who find it too difficult to launch and operate their own RIAs, and we very pleased to be working with tru Independence to further strengthen our RIA offering,” said Ryan Sabol, Managing Principal of Mutual Securities. “Our firms’ shared entrepreneurial mindset and geographic proximity make this alliance an attractive opportunity for breakaway teams with dual registrations to obtain independence and ongoing support, while maintaining management control over their practices.”
About tru Independence
Through uncompromising investment in people and technology, tru Independence delivers a premier consulting and services platform for wealth management firms seeking independence. The firm diligently focuses on and invests in three core disciplines—investment consulting, business consulting and new business development.
To deliver unrivalled excellence, tru Independence leverages key relationships by outsourcing to the best providers and platforms. The company’s consultative process is defined by simplicity, clarity and transparency, grounded on the belief that its partners can best control their future by owning the equity of their firms. Drawing upon decades of industry experience, tru Independence is committed to ensuring that its partners maximize their enterprise value. For more information, please call (971) 371-3444 or visit us at www.tru-ind.com.