A team of four advisors has left Sheaff Brock Investment Advisors to create their own Indianapolis registered investment advisor backed by tru Independence, a $12.5 billion service platform for detached and independent advisors. Mendset Wealth Management is led by managing partners Peter Bjelopetrovich, Seth Hickle, James “Louie” Humphries and Mark Vandygriff.

Mindset has joined the Intermediary Recruitment Protocol to make it easier to bring clients from their previous firm and they will be looked after by Schwab Advisor Services. Currently the firm has no assets.

Bjelopetrovich said the four partners started at Schwab's client service center in Indianapolis and eventually all ended up at Sheaff Brock, a local RIA with $1.3 billion in client assets.

He said the RIA doesn't serve any industry or profession specifically, but they offer a proprietary derivative overlay strategy in separately managed accounts for clients with a concentrated, low-basis holding. The strategy can provide additional returns on top of a fully diversified portfolio.

“We see our mindset as our niche, which is why we wanted to put that in the name,” he said. “We believe in embracing risk rather than eliminating it. Many of our customers we've talked to along the way—mostly successful business owners or successful individuals who have embraced risk themselves—this message seems to really resonate with them.”

In 2023, tru added six firms representing over $4 billion in assets, including Private SpirePoint Client in October, Advisory for seven miles in April, Crossover Capital Advisors in May, Gainline Financial Partners AND Sykon Capital in June and 44 Northern Capital in September.

Now in its 11th year, the Portland, Ore.-based firm. expects to continue adding $750 million to several billion teams. While most are offline, approximately 30% of the firms on the tru platform came from other large RIA buyers or were existing firms that needed additional support.