A Reno, Nev., team managing $500 million has jumped from RBC Wealth Management after more than two decades to join Stratos Wealth Advisors, a registered investment advisory platform owned by Stratos Wealth Holdings that supports about 25 affiliated firms and 66 advisors managing more than $4 billion in assets.
Peter and Carla Bessette, along with Dan Roberts, joined RBC in 2000 and eventually began operating as the Reno Tahoe Wealth Group. They were joined by Senior Financial Associate Erich Brenner in 2017 and by Registered Client Associate Sonni Schafer and Wealth Planning Associate Drew Bessette (Peter and Carla’s son) in 2020.
With Fidelity as its primary custodian, Reno Tahoe Wealth Management becomes the first Stratos affiliate in northern Nevada.
"After deciding to become independent advisors, we wanted a partner to help us make that transition while also developing and executing a long-term growth strategy with an eye towards the next generation,” Peter Bessette said in a statement. “When combined with Stratos’ incredible practice management, technology, and other consulting services, we feel the services and support offered by Fidelity gives us everything we need to succeed."
“The Stratos team will focus our efforts on supporting practice management, succession planning, technology, and enhanced client investment solutions,” added Charles Shapiro, Stratos founding partner and chief development officer.
Stratos Wealth Holdings comprises a handful of RIAs and a limited-purpose broker/dealer that reported overseeing close to $23 billion in collective assets in March 2023. The company is minority owned by Emigrant Partners, which places total assets at more than $28 billion on its website.