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Journey Strategic Wealth Recruits 3 Teams, $210M in Assets

The new teams come from Private Advisor Group, Raymond James and New York Life subsidiary Eagle Strategies.  

Journey Strategic Wealth, the registered investment advisor partnership launched last year, has recruited three advisory teams, adding $210 million in assets to its platform. JSW, founded in January 2021 by financial advisors and former Dynasty Financial Partners executives Michael Brown and Brian Flynn, along with practice management coach Penny Phillips, has brought in five advisors and four new teams so far this year, bringing its total assets to $2.65 billion.

A Richmond, Va.-based team, led by advisor Mark Newfield, joined JSW from Bleakley Financial Group, a practice affiliated with Private Advisor Group, a super office of supervisory jurisdiction with LPL Financial. Newfield is joined by advisor Angela Lessor, financial planner Melissa Clark and operations leader Danielle Handshaw.

Seattle-based advisor Laurie Adams departed Eagle Strategies, the RIA subsidiary of New York Life, after 14 years to join Journey, which will eventually acquire her business, according to an announcement from the firm. Adams focuses her practice on female investors.  

Kathleen Barlow, a Salt Lake City-based advisor, will sell a portion of her holistic financial planning practice to Journey, and will run a virtual practice, also with a focus on female clients and families. She joins from Raymond James Financial Services, the firm’s independent contractor broker/dealer.

“Our privately funded model enables us to be very thoughtful and strategic regarding who joins JSW by identifying advisors who fit our ethos and those who are seeking a collaborative community,” Phillips said in a statement.

With the new teams, Journey has 50% parity between men and women at the firm, executives said.

Based in Summit, N.J., Journey is structured as a hybrid RIA, affiliated with broker/dealer Purshe Kaplan Sterling Investments. They are looking to tuck in advisor teams, but firm principals say they will provide more services to them than the typical affiliation platform, particularly with consulting around practice management. In addition to tucking in, advisors may also choose to sell all or part of their practice to Journey.

Last May, Damian Lo Basso, the former founder and CEO of Compass CFO Solutions, joined JSW as managing partner.

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