Bill Sowell is the founder and chief strategy officer of Sowell Management.
RIA Sowell Management has been branching out lately with a new focus and an infusion of funding.
Last week, Sowell Management announced the launch of a new "family office lite" offering, Cache River Private Wealth. The wholly owned division is aimed at serving the high-net-worth market of households with at least $5 million in net worth, with additional benefits including enhanced planning capabilities and coordinated tax planning support.
In conjunction with this initiative, Sowell Management on Monday announced that it will offer an advisor partnership program for affiliated advisors. Merchant, a private capital firm, has agreed to provide funding for this program and for future M&A-based growth, according to a statement. (The terms of the deal were not disclosed.)
Rob Emrich III will serve as chief growth officer for Cache River Private Wealth and will be primarily responsible for attracting experienced advisors serving high-net-worth clients to the platform.
Bill Sowell, founder and chief strategy officer of Sowell Management, told ThinkAdvisor that Cache River Private Wealth had been in development for the better part of a year. The idea was born out of the shifting demands for services that the firm has seen for nearly a decade.
Sowell cited growing client demand "for a comprehensive, aligned wealth management strategy."
"For people in the high-net-worth-plus area … this kind of strategy includes consideration of taxes, real estate and other key aspects of their wealth," he said. "There is a meaningful unaddressed market, and we believe our firm is well-suited to support it with this new offering."
Sowell Management, a privately held RIA based in Little Rock, Arkansas, was founded in 2001. The firm has a nationwide network of financial advisors representing over $6.5 billion in client assets under advisement or management as of April.
Merchant is a global operating company comprising over 130 partner firms and RIA practices in six countries, collectively managing more than $340 billion in assets.
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