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FiNet Group Managing $675 Million Starts Independent RIA

Landsberg Bennett Private Wealth Management’s partners cited the technology and tools available to independent RIAs as a reason to leave FiNet.

A team of advisors who were part of the Wells Fargo Advisors Financial Network, the company’s registered investment advisory channel known as FiNet, said Thursday they were leaving to start their own independent RIA firm.

The new Punta Gorda, Fla.-based group called Landsberg Bennett Private Wealth Management includes Michael Landsberg and Lew Bennett, who are both partners of the firm, and Anthony Dubbaneh.

Landsberg, who will also serve as the firm’s chief investment officer, said in a statement that the group decided to start their own business because of the technology and tools available to independent RIAs—a common reason cited by so-called breakaway advisors who previously were employees at brokerages. Prior to FiNet, the Landsberg Bennett Private Wealth Management group met while working at Bank of America’s Merrill Lynch.

Fidelity Clearing & Custody Solutions who will act as primary custodian for client investment assets.

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