Stratos Wealth Partners Expands Stake in First Wealth Financial Group

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Mar 02, 2023, 06:00 ET

Andrew Meyers Named President of First Wealth Financial Group After Unexpected Passing of Breton Williams, Founder and CEO

BEACHWOOD, Ohio, March 2, 2023 /PRNewswire/ -- Stratos Wealth Partners (Stratos), a registered investment advisor (RIA) of Stratos Wealth Holdings, today announced it has expanded its ownership in First Wealth Financial Group (First Wealth) to a majority stake. In partnership with Andrew Meyers (minority owner), the owner and leadership transition are effective immediately, with no impact to the firm's operations. As a part of the transition Andrew Meyers has been named President of the wealth management firm after the unexpected passing of Breton Williams, the firm's founder and CEO.

Established in Clinton, Iowa, in 1987, First Wealth services over $348 million in combined client brokerage and advisory assets as of February 28, 2023. Stratos has been a non-ownership partner in the firm for the past eight years, providing support and guidance as its client base grew and operations expanded to six advisors in four locations. First Wealth prides itself on establishing deep relationships with clients through investment management, and retirement, estate, pension and tax-favored planning.

"Breton was a well-respected member of the wealth management community in Iowa, who cared deeply about the well-being of his clients and community, and will be sorely missed," said Charles Shapiro, Founding Partner and Chief Development Officer of Stratos. "On behalf of Stratos, I extend my condolences to the Williams family, staff of First Wealth and clients whose lives Breton improved over the years. We are honored to build on his legacy alongside, Andrew and the First Wealth team, providing an exceptional client experience and growing the firm."

Mr. Meyers, a wealth advisor with First Wealth since 2011, recently took a leadership role as part of a planned succession of the business. Working closely with Cari Bush, Senior Client Service Representative, Mr. Meyers began implementing the plan established by Mr. Williams to ensure a seamless transition for clients.

Mr. Meyers added, "As we continue processing the loss of our friend and colleague, we are grateful that Breton had such a detailed business continuity plan in place. I want to assure our clients that First Wealth's team of advisors and staff is committed to providing the valued investment advice and financial planning care they have become accustomed to. Our strengthened partnership with Stratos will allow us to build an even greater business and provide additional services to these loyal clients."

About Stratos Wealth Partners

Stratos Wealth Partners, Ltd., an SEC Registered Investment Advisor, manages over $9.6 billion in advisory assets, and advises through LPL Financial, over $6.9 billion in brokerage and third party managed assets for a total of $16.5 billion as of December 31, 2022. Stratos offers operational, strategic and revenue-generating resources, as well as a reliable infrastructure allowing advisors the flexibility to develop and grow his/her own business. Since its founding, Stratos has grown to 275 independent advisors, has over 60 home office staff, and is located throughout the U.S. in over 87 locations.

Securities offered through LPL Financial, Member FINRA & SIPC. Investment advisory services offered through Stratos Wealth Partners, Ltd, a registered investment advisor. First Wealth Financial Group and Stratos Wealth Partners are separate entities from LPL Financial.

Stratos has been ranked on Barron's list of Top RIAs in the U.S. for 2018, 2019, 2020, 2021 and 2022 (Barron's Top 100 RIA's List is based on assets managed, revenue produced and quality of practice).

About First Wealth Financial Group

First Wealth Financial Group was established in 1987 in Clinton, Iowa and services over $348 million in combined client brokerage and advisory assets as of February 28, 2023, across four locations. Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Stratos Wealth Partners, a registered Investment advisor. Stratos Wealth Partners and First Wealth Financial Group are separate entities from LPL Financial.

Media Contact:
Joseph Kuo / Donald Cutler
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SOURCE Stratos Wealth Partners