LaSalle St, a family of independent wealth management firms encompassing independent broker-dealer and registered investment adviser (RIA) platforms, has added Stiles Financial Services Inc, a Minnesota-based firm specialising in private wealth management, retirement plan consulting and institutional portfolio services that oversees approximately USD600 million in assets. Mark Contey, Senior Vice President of Business Development for LaSalle St, says: “We are excited to welcome Stiles Financial Services to the LaSalle St. family. The exceptional client service skills and integrity of the team make Stiles Financial Services a strong fit with our firm’s culture and vision. It is our pleasure to support the Stiles team as they guide clients through volatile markets and uncertain economic conditions, to achieve their financial goals. Our continued emphasis on doing what’s best for advisors and their clients is increasingly making LaSalle St. the destination of choice for growth-oriented wealth management businesses across the country.”
Stiles Financial Services is a team of experienced financial advisors and consultants that this year is celebrating its 20th anniversary. The firm was founded in 2000 by Susan Stiles, who holds designations as a Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), Accredited Investment Fiduciary (AIF) and Certified Financial Plan Advisor (CPFA). The seven-person team includes Portfolio Research Manager Paul Tichy and Director of Retirement Plan Consulting Deb Rosenberg. Collectively the Stiles team possesses more than 100 years of experience in financial services and serves many clients in the Minneapolis area.
The firm’s private wealth management integrates life-planning advisory services with portfolio management, risk management and estate planning. Through retirement plan consulting, Stiles Financial Services provides fiduciary oversight by engaging with sponsors to enhance plan design and employee outcomes. Institutional portfolio services entail active management that reduces overall expenses and mitigates the impact of taxes for clients such as high-net-worth households, trusts and estates, as well as foundations and endowments.
Susan Stiles, President of Stiles Financial Services, says: “When we began searching for a new broker-dealer, we conducted extensive research on firms with the best combination of resources, access to senior leadership and a positive home-office culture. LaSalle S. proved to be the clear winner for us on all the key factors. This transition enables our team to unlock its full potential, both as a business and a steward for our clients. That is of crucial importance, as families and small-to-midsized businesses alike look for answers on how to emerge from the current widespread financial and economic disruptions in good condition.”
Dan Schlesser, LaSalle St.’s Senior Vice President and Chief Financial Officer, says: “We are eager for Stiles Financial Services to take full advantage of our deep industry expertise, versatile support structure and advisor-first solutions. From our streamlined custody and clearing process to our new offerings, including our recently unveiled Zero-Rate M&A Loan Program, LaSalle St. is committed to going above and beyond for the wealth management businesses we serve. Our exceptional balance sheet strength and stability of ownership as a privately-held firm with a commitment to financial advisors, first and foremost, positions us extremely well to lead the industry in recruiting for 2020 and beyond.”