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One Seven launches national wealth management network for ‘breakaway’ financial advisers

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A team of four ex-Morgan Stanley financial advisers has teamed up with three principals from MOGO Investment Advisors to form One Seven, a client-focused wealth management firm with offices in Cleveland, Ohio, and Park City, Utah.

Todd Resnick, Michael Mawby, Stuart Gertman and Bruce Greenwald collectively managed an estimated USD600 million in assets for about 500 clients while they were at Morgan Stanley. Having teamed with Ronald Gross, Richard Gross and Paul Orchosky from MGO, the new One Seven team is responsible for USD660 million in client assets
 
The original idea for the new firm, which is looking to establish itself as a nationwide network for financial advisers who are looking to run their own independent operations, came from a chance meeting between Ron Gross and Resnick.
 
“We found we shared a vision of creating an advisory business that was deeply engaged and connected with our clients’ lives,” says Resnick, who serves as president of the new company. “We wanted to interact with our clients on a deeper level than simply making a phone call when the market goes up or down, or when they have a question about a dividend or mutual fund.”
 
Ron Gross, who has assumed the role of CEO of the new company, while continuing in that same capacity at MGO, adds: “I’d been approached through the years by a number of other advisers about partnering or forming a strategic alliance, but Todd was the first one I met who also shared my entrepreneurial passion.
 
“We know that going independent is complicated and time-consuming but our goal at One Seven is to make that whole process easier for other advisers who want to join our network.”

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