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Washington Wealth Management Adds Two Experienced Former Wirehouse Advisors
-- Advisors Morrie Symson and David Mizrahi Bring Approximately $150 Million in Assets Under Management --
|By PR Newswire
|April 10, 2014 09:15 AM EDT
SAN DIEGO, April 10, 2014 /PRNewswire/ -- Washington Wealth Management LLC (WWM or "the firm"), an independent hybrid Registered Investment Advisor (RIA) supporting fee and commission-based independent advisor teams across the nation, today announced that it has added former wirehouse advisors Morrie Symson and David Mizrahi to its platform. The two advisors have over 70 years of combined financial service experience and collectively manage approximately $150 million.
A wholly-owned subsidiary of leading independent broker/dealer NFP Advisor Services, San Diego-based Washington Wealth Management was established by wirehouse veterans for the express purpose of enabling advisors with a wirehouse background to achieve independence and build equity in their own businesses. The addition of Mr. Symson and Mr. Mizrahi on the heels of the WWM acquisition by NFP both reflects the strength of the combined NFP and WWM industry-leading platform and further underscores WWM's growing reputation within the industry as the ideal strategic partner for talented former wirehouse advisors looking to transition to independence.
Rob Bartenstein, CEO of Washington Wealth Management, said, "Our firm is honored to welcome Morrie and David. Their decision to join Washington Wealth Management after so many years in the wirehouse universe speaks to the critical importance of harnessing turnkey comprehensive support for former wirehouse advisors accustomed to such resources and the power of the independent model. As more and more advisors look to escape the captive environment of the wirehouse world, we look forward to being able to offer a true hybrid solution, one that is full service and makes independence easy and beneficial for them and their clients."
David Richman, Washington Wealth Management's Market Area Director for Southern California, said, "We are thrilled that Morrie and Dave have decided to affiliate with Washington Wealth Management. In the coming months, I look forward to adding even more talented advisors that have grown weary of the wirehouse model. Our specialized expertise in helping such advisors move successfully to the independent channel has been proven time and again, and has only been enhanced by the industry-leading resources of NFP."
Mr. Symson, who was most recently with UBS, has joined Pacific Point Asset Management, a previously existing WWM-affiliated firm. Meanwhile, Mr. Mizrahi, formerly of Wells Fargo Advisors, has opened his own practice, First Point Financial Management. The advisors' respective decisions to join WWM under different affiliation models – Mr. Symson by integrating into an existing practice and Mr. Mizrahi by establishing his own firm – further demonstrate the flexibility of the WWM platform to meet the full range of advisors' transition objectives while accommodating every type of advisory business model. Mary Abundo, who previously served as a practice management consultant with Cetera Financial Group, has joined Mr. Mizrahi's practice. Both advisors are based in Woodland Hills, CA.
Mr. Symson and Mr. Mizrahi are experienced portfolio managers who specialize in working with high-net worth individuals and families. While their primary focus is on fee-based business, each incorporates commissioned-based work into their practices, as well.
ABOUT WASHINGTON WEALTH MANAGEMENT
Based in San Diego, CA, Washington Wealth Management LLC (WWM) is a hybrid registered investment adviser (RIA) supporting fee and transaction-based independent financial advisor teams across the nation. WWM was established by wirehouse veterans with the express purpose of enabling former wirehouse financial advisors to achieve independence and growth. The firm's platform is comprised of an independent RIA, and a multi-custodian offering, in association with NFP's independent broker/dealer, in order to provide its financial advisors with an open architecture platform and independence across both fee and transaction-based business models. WWM has offices in San Diego, Los Angeles and Orange County, CA; Westport, CT and Middleburg, VA. More information is available at http://www.washwm.com.
National Financial Partners Corp. (NFP) and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high net worth individuals, partnering to help preserve their assets and prosper over the long term. NFP advisors provide innovative and comprehensive solutions, backed by NFP's national scale and resources. NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, retirement plans, and property and casualty insurance. The Individual Client Group includes retail and wholesale life insurance brokerage and wealth management advisory services. The Advisor Services Group serves independent financial advisors by offering broker/dealer and asset management products and services. Most recently NFP was ranked in the top 10 on Business Insurance's 100 Largest Brokers of U.S. Business and Best's Review's Top Global Insurance Broker lists; second on Business Insurance's Largest Agents and Brokers Headquartered in the U.S. Northeast; it operates the fifth-largest executive benefits provider of nonqualified deferred compensation plans by total clients, as ranked by PlanSponsor; and operates a top 10 independent broker/dealer as ranked by InvestmentAdvisor. NFP is also a leading independent life insurance distributor according to many top-tier carriers. For more information, visit www.nfp.com.
NFP Advisor Services Group is a business segment of NFP that includes NFP subsidiaries NFP Securities, Inc., member FINRA/SIPC, and NFP Indesuite, Inc.
Washington Wealth Management Media Contacts
Matthew Griffes / Chris Clemens
Haven Tower Group LLC
(206) 402-5853 or (206) 420-1525
[email protected] or [email protected]
SOURCE Washington Wealth Management LLC
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