After 20 years, Kansas City-based advisors and partners Jonathan Sarver and Peter Vrooman are going independent as Sarver Vrooman Wealth Advisors, according to a news release.
Six years after joining the Wells Fargo Advisors Private Client Group, the company’s employee channel, Saver and Vrooman are transitioning over to its independent channel, Wells Fargo Advisors Financial Network, with $285 million in client assets.
Last year, Financial Advisor reported that another Wells Fargo team had moved from Wells Fargo Advisors to Wells Fargo Financial Network (FiNet), the wirehouse’s independent broker-dealer channel.
In an August 29thtelephone interview, Sarver and Vrooman said that Wells Fargo Advisors allowed advisors that had joined its employee channel to transition over to firm’s independent channel after five years.
Financial Adviisor also reported last year that Wells Fargo offers its advisors incentives to do so, including waiving transition fees once placed on advisors seeking to join FiNet.
With the change in their employment status, Sarver and Vrooman believe they will have the best of both worlds.
As an independent firm affiliated with Wells Fargo, they will have continued access to the same technology, research, custody, and clearing platform, which offers them and their clients Wells Fargo's retirement planning asset management, insurance, and lending capabilities.
Sarver and Vrooman will now also have some of the advantages that come with independence, such as branding capabilities, team building opportunities, and the ability to create their own culture and office setting as well as enhance their clients’ experience with additional technology and staff.
“While technically we will own our own practice, we see our clients as our ultimate employer, and we will always continue to work in their best interest,” Vrooman said.