SPS Family, the parent company of two independent broker/dealers and one registered investment advisor, will now be known as Axtella, the company announced. SPS, which has more than 700 advisors, consists of Sigma Financial, Parkland Securities and Sigma Planning Corporation.
The new name is a combination of the words stellar, nexus and constellation, which the firm says reflects its core values—an “unwavering commitment, community spirit, authenticity, inspiring greatness, and a dedication to humanizing the wealth management experience.”
"Our mid-sized structure allows us to remain agile, independently held, and free from bureaucratic obstacles,” said Brandon Rydell, president of Axtella, in a statement. “This positions us uniquely in the market, permitting us time to establish and foster impactful connections, spearhead innovation, and develop tailor-made resolutions for our financial professionals."
Along with the rebranding, Axtella also announced several senior leadership changes. Rob Engle, previously executive vice president of business development at Grove Point Financial, has joined the firm as chief revenue officer, with responsibility over business development, wealth planning and practice management. This is a new role for the company.
Kristi DeLongchamp, vice president of business development, has been promoted to senior vice president of business development, reporting to Engle. Maria Bethel, who oversaw the organization’s rebranding, has been promoted from vice president of marketing and communications to senior vice president.
Several household names in the wealth management industry have rebranded this year, including Riskalyze (now Nitrogen), Advisor Group (now Osaic), and CI Financial’s U.S. wealth business (now Corient).