Connecticut-based NorthStar Wealth Partners has added an $866 milion wealth management team that has increased the firm's assets under management to $2 billion.
NorthStar, which is afflliated with LPL Financial, has added the wealth management team of Tyler W. Potts and J. Addison McAraw, who operate a fee-based advisory practice that manages over $866 million in assets. The addition of the Potts-McAraw practice brings the total recruited AUM for Northstar Wealth Partners to nearly $2 billion. Northstar, based in West Hartford, will open a new office for the team in Old Saybrook, Conn.
The team was previously affiliated with Essex Financial. Potts has more than 16 years of experience, all specializing in fee-based management and financial planning. McAraw has spent the past 20 years in the financial services industry, initially launching his career as a trader for a hedge fund working in both New York and San Francisco.
Robert Laraia and Brandon Marinelli, founders and partners of Northstar, say they are honored to welcome the team as partners in their firm.
"We share their commitment to longevity, sustainability and scale for our clients and our business as a whole. We know their collective and individual contributions moving forward will help us realize our vision, while reinforcing our commitment to our clients and all those who seek to do business with a proven financial and wealth management leader,“ Laraia and Marinelli said in a prepared statement.