Allied Beacon Launches Cabot Lodge in New York Area

Financial advisors own 49% of wealth management firm

Cabot Lodge, a new financial services affiliate of Allied Beacon Partners Inc., has opened three offices in the New York Metropolitan Area, according to an announcement last week.

The new firm, an office of supervisory jurisdiction of Allied Beacon, will have branch offices in Manhattan; Princeton, N.J.; and Long Island.

Cabot Lodge offers alternative investment products for direct investment by accredited investors, including real estate syndications, tax credit programs, and oil and gas programs. It also provides access to publicly traded and non-traded real estate investment trusts.

Stephen Rooney, vice president for national sales, training and recruiting at Cabot Lodge, said in the statement that Cabot Lodge was “dedicated to building a team of highly successful financial advisors, all of whom will have the opportunity to own shares in the company. We believe that by focusing on our financial advisors and their clients first, we can achieve greater success for all involved.”

Cabot Lodge’s financial advisors will own 49% of the firm and help determine its overall goals and vision. According to the announcement, financial advisors incur no overhead and are part of a true partnership structure.

The firm expects to hire more than 100 additional financial advisors in the next two years. For new recruits, it has developed a customized education and mentoring program that pairs them with seasoned financial advisors and offers extensive training on the latest investment products and industry regulations. All new recruits will have an opportunity to earn an ownership stake in the firm.

Allied Beacon Partners, an RIA and member of FINRA/SIPC, was founded in 1984 and has its headquarters in Richmond, Va.

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