Morris Retirement Advisors, a former branch of independent broker-dealer Ameriprise, announced Monday it will now be known as MRA Advisory Group following its 2017 conversion into an independent registered investment advisory firm.
The Parsippany, N.J.-based fee-only RIA manages approximately $173 million in regulatory assets and clears through Raymond James. The firm offers financial planning, wealth management, tax assistance and insurance.
According to a company release, MRA Advisory will offer one-on-one wealth management services to its individual clients for a monthly subscription of $69 a month. The service is called MRA Personal Planning and will include tax planning and preparation services by an in-house certified public accountant.
MRA Advisory’s business services cater to enterprises earning between $1 million and $10 million. The firm will offer tax savings strategies and risk mitigation services. MRA Advisory’s insurance services help the RIA provide an inclusive financial plan for individuals and business entities.
Along with its new services, MRA Advisory will also offer a free financial tool to the public called Wealth Builder Planning. The tool helps users build an investment plan that matches their financial goals.
“We are reinvigorated and eager to introduce both existing and new clients to our realigned service offering,” said Marco Lima, the chief executive officer and wealth advisor at MRA Advisory, in a statement.