Ascentis Adds Four Raymond James Teams Managing More Than $1 Billion

Ascentis Independent Advisors, the independent affiliation unit of Ascentis Wealth Holdings LLC, has added four advisory practices from Raymond James Financial Services that together manage more than $1 billion in client assets, the company said Oct. 8.

Capital Waypoint, Citrus Wealth Management, IMPACT Financial Strategies, and Rooted Wealth Management have worked together as a single Raymond James branch since 2022 and are making the move as a group. The practices, based in California and Colorado, will continue to operate under their own names and will keep Raymond James as their primary custodian.

The addition is sizable relative to the platform’s footprint. When Dallas-based Ascentis Holdings launched in January, bringing three businesses under one platform, it reported more than $2 billion in client assets and 43 advisers across 16 states.

“Experienced advisers want the freedom to run their practices and the support to keep improving what they can deliver for clients,” said Michael Mansur, chief executive officer of Ascentis Holdings. “Through Ascentis Independent Advisors, these teams can access deeper planning and investment resources, along with operational support designed to give them more time for their clients.”

Ascentis Independent Advisors provides operations, compliance, technology, marketing, and transition support for independent practices. Through the broader holding company, advisers also have access to planning resources and the investment capabilities of Ascentis Asset Management, which the company said span traditional and alternative strategies.

“We look forward to bringing our investment expertise to [the four teams’] work, with support for portfolio construction, risk management and implementation,” said Clint Sorenson, chief investment officer of Ascentis Asset Management.

Mark Earley of Ascentis Holdings is among the continuing directors on the board of the Institute for Portfolio Alternatives.

The Four Practices

Capital Waypoint joins with about $256 million in client assets, according to the company, and has offices in Fresno and Monterey, Calif. Jarrod C. Martinez, managing director and wealth manager, who has more than 30 years of experience, leads the four-person team, which works with families and business owners.

Citrus Wealth Management, based in Redlands, Calif., joins with about $230 million in client assets. Jeff Marvin, president and wealth manager, who has 29 years of experience, leads the three-person practice, which serves retired utility company workers, health care workers, and families.

IMPACT Financial Strategies, based in Fort Collins, Colo., reported about $303 million in client assets as of Sept. 15. Founded in 2019 and led by Justin Davis, who has more than 25 years of experience, the six-person team serves business owners, retirees, and families with philanthropic interests, including clients who have received inheritances or proceeds from business sales.

Rooted Wealth Management, based in Modesto, Calif., joins with about $275 million in client assets. Founding partners Thad Ortez and Robert Powell lead the three-person practice, which serves retirees, people preparing for retirement, and business owners.

Ascentis Wealth Holdings is a holding company that owns or controls multiple registered investment adviser firms.

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