Winthrop Wealth Management, one of the nation's largest independent wealth advisories led by millennials, announced the launch of its independent hybrid registered investment advisor, with $1.3 billion in fee-based advisory assets under management.
Max Winthrop, the firm's 29-year-old CEO, and chief operating officer Lucas Winthrop, 27, have moved off of LPL’s corporate RIA platform and established their own independent RIA. They will continue to use LPL as their primary custodian in order to launch Empower Advisor, a proprietary M&A platform.
Max Winthrop said in a statement, “With our new hybrid RIA, Winthrop Wealth Management enjoys a greater degree of independence and flexibility than was ever possible before.”
Max Winthrop continued, “Our Empower Advisor platform enables us to achieve key goals and provides the ability to align financing solutions to sellers of independent advisory businesses or advisors looking to proactively build a succession strategy for the benefit of their clients."
Winthrop consists of 16 employees, including financial advisors and support staff, operating from its headquarters in Boston; it has additional locations in Westborough, Mass.; Rockville Centre, N.Y.; and Stratham, N.H.