Washington Wealth Management LLC, an independent hybrid registered investment advisor based in San Diego, has been acquired by National Financial Partners Corp., NFP announced Wednesday.
Washington Wealth Management, which was established by wirehouse veterans to enable advisors to achieve independence and build equity in their own businesses, has 10 teams of advisors servicing nearly $800 million in client assets.
Washington Wealth supports fee and hybrid independent financial advisor teams across the nation. The firm includes an independent RIA and a multi-custodian, open-architecture platform associated with NFP’s independent broker-dealer that provides its financial advisors independence across both fee and transaction-based business models.
NFP and its benefits, insurance and wealth management businesses provide diversified advisory and brokerage services to companies and high-net-worth individuals.
Robert Bartenstein, CEO of Washington Wealth, says the combination with NFP will provide “a true integrated approach, from back office support to advisor-facing technology, all within a welcoming environment filled with people who are committed to empowering advisors.”