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Washington Wealth Management partners with California Wealth Transitions and Overlake Partners

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Washington Wealth Management (WWM), an independent hybrid registered investment adviser supporting fee and commission-based independent adviser teams, has recruited to its platform two West Coast financial advisory groups: California Wealth Transitions and Overlake Partners.



The addition of California Wealth Transitions and Overlake Partners underscores WWM’s rapid growth over the course of the past year, bringing total recruited assets under management on the WWM platform to over USD1bn. 

Upon completion of the transition of these two practices by the end of 2012, WWM’s recruited AUM will have increased 900 per cent over the past 12 months, compared against USD100m in AUM in December 2011.

Rob Bartenstein (pictured), chief executive of Washington Wealth Management, says: "We are delighted that both California Wealth Transitions and Overlake Partners have chosen to partner with us. Each group is singularly unique, comprised of driven, successful professionals who share our vision of the value our firm can add to independent financial adviser teams. At WWM, we recognise that independence is the target but freedom is the goal. We’re providing these teams with a greater share of freedom in their day to day activities, allowing them to focus on client needs and client service- areas where they are both world class. In addition, our directors in the field are actively working with all of our teams to identify opportunities for growth, whether one client at a time, or by wholesale acquisition of other practices."

Based immediately outside Seattle in Bellevue, WA, Overlake Partners is an independent financial advisory practice that focuses on delivering an integrated set of products and services to its clients. As an independent firm, Overlake Partners allows its advisers to offer solutions based solely on their own thorough analysis and experience. The practice is led by John Wilbourne, principal at Overlake Partners, who has over 18 years of industry experience and was most recently with Wells Fargo Advisors.

California Wealth Transitions, which is headquartered in San Diego, CA, brings together a team of former wirehouse advisers who offer a unique and comprehensive approach to estate and investment planning. Its advisors seek to preserve wealth, generate growth and provide income for clients throughout an individual’s entire lifecycle, with a particular focus on providing comprehensive support through critical life-changing events that necessitate significant financial planning – including marriage, retirement, small business liquidity events and inheritances. It is led by Keith Brandt, the practice’s president, who was previously with Merrill Lynch and has nearly 30 years of industry experience.

Wilbourne says: "Following an exhaustive search for a firm that specifically fit our support and service needs, our practice is delighted to be affiliating with Washington Wealth Management. Years of operating within the wirehouse model have made us appreciate the value of teaming with a strategic partner whose execution of service and support offerings give practices the freedom to fully focus on their client relationships while developing their own distinctive brands within the industry. We thank Washington Wealth Management for transitioning our business to their platform in an extremely well-coordinated, seamless and expedited fashion."
 

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