Farther, a New York-based registered funding advisor with a proprietary wealth platformhas acquired a wealth administration and 401(ok) recommendation group primarily based in Marlton, N.J., that primarily works with physicians.
Masso Torrence Wealth is led by managing companions Christopher Masso and John Torrence, who’ve about $327 million in property underneath administration, in response to its most up-to-date Kind ADV. The duo had left Commonwealth Monetary Community, which is now owned by LPL Monetary, again in 2020.
Nicholas Pantle, vice chairman of monetary planning at Masso Torrence Wealth, stated the transfer permits the agency to “carry all features of our shoppers’ funds into one centralized platform.”
“That not solely streamlines operations, however frees our group to spend extra one-on-one time with the physicians we serve—professionals who dedicate their lives to offering the perfect take care of others—and to assist them plan for the way forward for their practices,” Pantle stated.
Pantle added that working with physicians usually includes complexities past typical consumer areas, from “practice-ownership and student-loan compensation to exit-planning and retirement methods.”
“A occupation constructed on personalised care deserves a personalised method to wealth administration, and Farther’s expertise permits us to ship precisely that,” he stated.
Farther, which was based in 2019, introduced in July that it’s on monitor to just about triple its AUM this yr and surpass $13 billion in property.
“Groups like Masso Torrence are precisely who we constructed Farther for,” Taylor Matthews, CEO and co-founder of Farther, stated in a press release. “Our clever wealth platform focuses advisors on their shoppers, not back-office duties, and provides them the instruments they should develop their enterprise. It’s how we empower advisors to construct stronger, differentiated practices that ship extra worth to their shoppers, all whereas preserving flexibility and independence alongside the way in which.”
In January, it introduced its largest advisor addition to date when it introduced on SignalPoint Asset Administrationan RIA with about $650 million in AUM.
Farther has raised greater than $118 million in funding to drive its efforts.