(This article originally appeared on WealthManagerWeb.com on April 26, 2010.)
A past president of the Financial Planning Association (FPA), is joining Cincinnati-based Capital Analysts. Jim Barnash, president of the FPA from 2001 to 2006, will be Capital Analyst’s assistant vice president for branch office development, responsible for adding wealth management affiliates to the independent broker/dealer-registered investment advisor (B/D-RIA), as well as supporting the firm’s affiliated advisors in growing their practices.
Matt Lynch, President and CEO of Capital Analysts, said in the firm’s April 26 announcement, that: “We are pleased to have an individual of Jim’s prominence join us,” adding, “He recognizes the changes going on in the independent broker-dealer/RIA space.”
Barnash, a DePaul University alum, was most recently a senior consultant at Stride Consultants and president of Barnash & Associates. He had been a VP, national director of financial planning, at Ameriprise Financial and spent 11 years with Lincoln Financial.
The firm also announced that Cleveland-based wealth manager Beacon Financial Partners has affiliated with Capital Analysts’ B/D-RIA. The new affiliate has $400 million in assets under management (AUM). Beacon focuses in planning for investors who are, “middle class millionaires,” in or near retirement.
Capital Analysts, with about $8 billion in AUM, is part of insurer Western & Southern Financial Group, and is known for its unusual flat-fee pricing model for its affiliated B/Ds and RIAs. For more about Capital Analysts’ flat fee model, please see “Best of Times, Worst of Times,” from the June 2009 Investment Advisor.