Kingswood U.S. Recruits $382 Million in Total Client Assets with Addition of Six Independent Financial Advisor Practices

Spanning a Range of Business Models, Newly Added Financial Advisors Join Kingswood U.S. for Greater Flexibility, Enhanced Technology and Robust Succession Planning

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Kingswood U.S.

Sep 30, 2021, 06:00 ET

NEW YORK, Sept. 30, 2021 /PRNewswire/ -- Kingswood U.S., a network of wealth management firms that oversees more than $2.4 billion in client assets, today announced the successful recruitment of six financial advisors who collectively oversee $382 million in total client assets. The new affiliates in the Kingswood U.S. network represent a range of business models, target clients-bases and geographies.

The new recruits mark an exceptional level of recruiting and M&A-driven growth for Kingswood U.S. over the past 24 months, going from 30 financial advisors to nearly 200 financial advisors today, overseeing more than $2.4 billion in client assets from across the country. Kingswood U.S. is a subsidiary of the London-based Kingswood Group, a global wealth management firm with more than $8.5 billion in client assets.

Michael Nessim, CEO, President and Managing Partner of Kingswood U.S., said, "Our ability to continuously attract a diverse range of financial advisor businesses to our network is a testament to the value we provide to financial advisors, regardless of business model or stage of career. We are extremely pleased to welcome these new advisors and look forward to partnering with each of them as they build their businesses to best serve their clients, expand their client service capabilities through our industry-leading technology and lay plans for future succession transactions."

Headquartered in New York, Kingswood U.S. includes two SEC-registered RIAs – Kingswood Advisory Services and Benchmark Advisory Services – and two FINRA-licensed broker-dealers – Kingswood Capital Partners and Benchmark Investments – that collectively support nearly 200 financial advisors.

The new Kingswood U.S. financial advisors are:

Derrick Avelar, CFP, Bluepoint Wealth Management, Bloomington, Minn. -- $45 million
Over the course of 20 years, Mr. Avelar has built a reputation as a trusted advisor for pre-retirees and retirees in the southern suburbs of Minneapolis. He offers comprehensive financial planning and wealth management services, including retirement, estate, tax and insurance planning and social security optimization. He has joined Kingswood Wealth Advisors, as an investment advisory representative (IAR).

Robert L. DeFreze, Jr., DeFreze Financial Services, Rochester, N.Y. -- $62 million
Mr. DeFreze operates a hybrid RIA that was founded in 2007 and delivers holistic wealth management and financial and retirement planning services to clients in the Rochester area. He has registered with Kingswood Wealth Advisors as an IAR and Kingswood Capital Partners as a registered representative.

Jason Ferneau, Ferneau Asset Management, Denver, Colo. -- $35 million
Mr. Ferneau's hybrid RIA practice has provided Millennial and Gen Z investors with tax mitigation, wealth management, growth equity and alternative investments strategies and services since 2013. He has joined Benchmark Advisory Services as an IAR and Benchmark Investments as a registered representative.

Patrick Gainer, Granite Bay Capital Management, Roseville, Calif. -- $85 million
Based in the Sacramento suburbs, Granite Bay has provided private wealth management, portfolio design, build-out and management since 2003. Mr. Gainer's practice specializes in the handling of fiduciary assets for his clients. He has registered with Kingswood Wealth Advisors as an IAR and Kingswood Capital Partners as a registered representative.

Michael Muratore, Rye Brook, N.Y. -- $100 million
As an independent financial advisor who provides clients with advisory and commission-based services, Mr. Muratore provides Westchester County's high-net-worth individuals with bespoke investment and retirement planning services. He has joined Benchmark Advisory Services as an IAR and Benchmark Investments as a registered representative.

Scott Rothbort, Lakeview Asset Management, Millburn, N.J. and Henderson, N.V. -- $55 million
With a focus on high-net-worth individuals, business owners and retirees, Lakeview Asset Management provides multi-strategy investment management that aims to mitigate risk. Mr. Rothbort leverages his nearly four decades of experience to provide wealth management services to his clients across the country. He has joined Benchmark Advisory Services as an IAR.

Mr. Nessim concluded, "These most recent recruiting successes underscore that growth momentum is very much on our side. Kingswood US continues to stand out in the wealth management space as the destination of choice to experienced and successful financial advisors seeking a boutique service culture that is backed by truly global resources and expertise. We're thrilled to see that the advantages of our advisor support model, which views advisor successes as our firm's successes, are being recognized across the industry."

About Kingswood U.S.
Kingswood U.S. is a network of wealth management firms that includes two SEC-registered RIAs and two FINRA-licensed broker-dealers collectively overseeing more than $2.4 billion in assets, offering comprehensive wealth management and business-building services, designed specifically for the independent financial advisor. Together with our parent company, Kingswood Group, we combine the resources and capital of a very large financial services firm with the personalized touch and feel of a boutique company. With over 160 advisors across the United States, Kingswood has earned a reputation as a firm built for advisors by advisors.

Media Contacts:
For Kingswood U.S.
Andrew Wang / Donald C. Cutler
Haven Tower Group
424.317.4859 or 424.317.4864
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SOURCE Kingswood U.S.