HamptonRock Companions, a Texas-based boutique funding financial institution and advisory agency, has launched HamptonRock Wealth Administration, a registered funding advisor agency in Austin. The agency has employed David Dodson, a former government director of investments and “OMEGA Group” portfolio supervisor at Oppenheimer & Co., to guide the brand new wealth enterprise.
HamptonRock will seed the brand new enterprise line with Dodson’s current e-book of enterprise, in addition to current funding banking shoppers looking for wealth administration companies. Dodson declined to say what number of belongings the enterprise had.
Stuart Brown, founder and managing director at HamptonRock, stated the wealth enterprise offers one other approach to service shoppers; the agency hopes to faucet into the synergies between funding banking and wealth administration.
“With funding banking, you’ve enterprise homeowners who’re considering by means of property planning, generally far prematurely of a transaction, when you actually wish to do it the fitting manner, and others who undergo a transaction however are searching for thrilling methods to handle cash, protect their wealth, defend their household for a number of generations,” Brown stated. “The liquidity occasions that we’re in entrance of, clearly, is a synergy for David’s wealth administration follow.”
And vice versa, Dodson could have enterprise proprietor shoppers searching for funding banking companies.
Having a wealth administration enterprise in-house may assist enterprise homeowners plan for his or her exit earlier on within the course of, Dodson stated.
“There are such a lot of alternatives for planning—exit planning with shoppers, and people are so necessary to deal with someplace between six months earlier than the exit, even out to 2 years or longer in some circumstances,” he stated.
HamptonRock Wealth Administration will use Charles Schwab for custody and HamptonRock’s dealer/vendor for brokerage enterprise. The agency has additionally joined the Protocol for Dealer Recruiting.
