Stratos Wealth Advisors, the fee-only registered investment advisor owned by Stratos Wealth Holdings, has added a pair of advisors in Pepper Pike, Ohio, managing more than $100 million in assets.
Spain & Smith Wealth Advisors will be led by veteran Henry “Hank” Spain, managing director and senior portfolio manager, who was most recently with Carnegie Investment Counsel, an RIA. He was with Wells Fargo Advisors before that. He is joined by wealth advisor Dayna Smith, who comes from Frank Legan Advisors to Cedar Brook Group, an RIA affiliated with Cadaret Grant.
“As we considered how we wanted to expand in the future, we felt that working with Stratos would be the best way to achieve our goals,” Spain said in a statement. “Strato's reputation is strong in Cleveland and around the country, and I know their team will help us take full advantage of the technology and practice management solutions they offer, allowing us to move the firm and our clients forward.” ”
This follows news in April that Stratos added a team based in Reno, Nev. which manages $500 million from RBC Wealth Management. Also in April, Stratos Private Wealth, a division of Stratos Wealth Holdings' RIA corporation, Stratos Wealth Partners, added two practices to its fledgling W-2 platformincluding Claricity Wealth & Planning based in New York, and Heald Financial Advisors in Marlton, NJ
Stratos Wealth Advisors has grown to over $3.3 billion in advisory assets across 65 advisors. The firm has 82 home office staff and more than 30 locations throughout the United States.
Stratos Wealth Holdings consists of a handful of RIAs and a limited-purpose broker/dealer that reported overseeing nearly $23 billion in collective assets as of March 2023. Stratos Wealth Advisors is the firm's pure RIA, while Stratos Wealth Partners is its hybrid with a RIAPLili Financial link. The company is minority-owned by Emigrant Partners, which puts total assets under advisement and management at more than $100 billion on its website.