XML Financial Group, formerly affiliated with LPL Financial, has struck out on its own, forming an RIA in Rockville, Maryland, and joining Focus Financial Partners.
Led by Brett Shane Bernstein and Robert Kantor, former advisors at LPL Financial, the firm plans to accelerate its regional expansion through merger and acquisition activities in the greater Washington, D.C.-metro area, as well as throughout the East Coast
In addition to managing partners Bernstein and Kantor, the firm has a team of 15 professionals, each with an average of 10 years of industry experience. The group has about $600 million in client assets
In a statement, Bernstein said, “We have been looking for a partner who could help us take the firm to the next level. Focus turned out to be a perfect fit for us because of the superb access to capital and expertise in M&A and value-add growth support it provides.”
In addition, the Harvest Group Wealth Management left UBS behind to launch itself as a family-owned RIA. The Waltham, Massachusetts-based team of Roger Ingwersen, his son Todd Ingwersen and daughter Laurie Ingwersen works high-net-worth individuals and families. It has roughly $300 million in client assets.
“At the core of our business has always been an independent spirit driven by our endless pursuit to do what is right for our clients,” Roger Ingwerson said in a statement. “In order to continue that legacy, we have made the important decision to operate independently, giving us the freedom to take full control of wealth management decisions that we believe are best suited for the needs of our clients and their families.”