Wealthcare, an integrated technology platform, hybrid registered investment advisory firm and TAMP based in West Chester, Pa., has launched a new RIA and affiliate model for joining advisors, according to Form ADV filings.
The firm was light on details of Wealthcare Capital Partners, which registered with the Securities and Exchange Commission last month. RIA also recently joined the Protocol on the Recruitment of Intermediaries.
“Wealthcare remains committed to providing its independent advisors with flexible solutions and superior service,” Wealthcare President and CEO Matt Regan said in a statement. “One of the many ways we offer this to our customers is through our flexible membership models. Wealthcare Capital Partners is our latest offering to meet the needs of select advisors interested in joining Wealthcare.
Craig Fischer, owner of Atlantic Financial Services, an RIA in Towson, Md. with nearly $141 million in client assets, has joined Wealthcare's new RIA. It uses MS Howells & Co. as his broker/dealer.
According to its ADV filing, Wealthcare Capital Partners will use MS Howells and Arkadios Capital for brokerage business and TD Ameritrade, Schwab, Fidelity and Pershing for custody.
The RIA will provide forgivable transition notes to its advisors based on incoming client assets.
The RIA may select Wealthcare Capital Management to act as a sub-adviser for advisory services, with WCM providing financial planning, investment advisory and portfolio management services to Wealthcare Capital Partners, the filing said. It will use DPL Financial Partners for underwriting.
RIA will provide investment advisory services to individuals, high net worth individuals, trusts, estates, retirement plans, charities and other businesses. The firm will offer financial planning and project-based advisory services on a flat or hourly basis, as well as retirement plan advisory services.
Founded in 1999 and backed by private equity partner NewSpring Holdings, the Wealthcare business model is based on integrated planning software developed by founder and former CEO Dave Loeper. Used across the industry as a white-label product (known as Envision at Wells Fargo), the goal-based software is the framework around which Loeper built his flagship RIA, Wealthcare Capital Management. Hybrid Wealthcare Advisory Partners was later created to accommodate advisors with brokerage business held at LPL Financial. Across both platforms, the firm currently oversees more than $6 billion in client assets across more than 170 independent practices.
Wealthcare Capital Management entered the RIA M&A market in 2022 with the acquisition of Eagle Financial Management Services, a Shreveport, La.-based firm. with more than $120 million in assets.