Broker-Dealer Benjamin F. Edwards Launches RIA to Entice Breakaways
In a bid to attract independent advisors, the broker-dealer Benjamin F. Edwards is rolling out a new corporate RIA, the company says.
St. Louis-based Edwards Wealth Management is a custody-agnostic firm offering business and middle and back-office support as well as risk management, compliance, and investment management services, according to a press release from the company. The RIA is launching with the father-son team of Blake and Connor Dunlop of the Dunlop Investment Group, which manages $230 million, Benjamin F. Edwards says.
"My father and I initially joined the Benjamin F. Edwards broker-dealer almost ten years ago because we knew they would empower us to serve our clients and would provide resources to grow our business,” Connor Dunlop says in the press release. “Today, we are extremely honored to continue this partnership as the first advisors to affiliate with Edwards Wealth Management. As an independent business owner looking to move our practice to the next level, we are excited about this partnership with a trusted and respected industry leader."
Despite recruiting the Dunlop team from the firm’s employee channel as its first wealth management practice, the RIA is designed to lure advisors from other brokerage firms, Chris Keller, managing director at the new RIA, tells InvestmentNews.
Founded in 2008 by Benjamin Edwards IV, St. Louis-based Benjamin F. Edwards now has 600 employees overseeing $25 billion from 72 branch offices in 27 states, the company says. Benjamin F. Edwards & Co. is a full-service broker-dealer subsidiary of Benjamin F. Edwards, Inc., according to the press release.