A group of advisors associated with the independent broker/dealer Kestra Financial have broken off from the firm and taken their $600 million in assets to form their own boutique RIA.
With the announcement, Paradigm Financial Partners is converting into an independently owned and operated wealth management firm and using Charles Schwab as its primary custodian.
Paradigm clients include high-net-worth families in film, television, music and sports, as well as business owners and physicians.
Lee Rawiszer, managing principal of the Westport, Conn.-based Paradigm, announced that the firm established an SEC-registered RIA to provide clients with more choices in customizing their investment strategies.
Rawiszer said: “Becoming an RIA is the best way for us to continue our approach to serving clients and to provide a more robust planning and investment platform.”
Paradigm also announced it has created a partnership with Merchant, a firm that will serve Paradigm in an advisory capacity and offer strategic guidance, said Rawiszer. Merchant’s partners include financial services veterans who have worked in institutional asset management and wealth management. The union was formed to support Paradigm’s conversion into an RIA and help open the door to West Coast clientele.
“The Paradigm team will continue to provide boutique-style service excellence and cultivate the long-term, trusting relationships we have developed over the years,” Rawiszer said.
Paradigm currently has four financial advisors and 11 office staff members serving the Tri-state area.
Rawiszer and managing principal David Halper have worked together since 2003, originally as the Halper-Rawiszer Financial Group. Paul Volpe joined as managing principal and director of wealth management that same year after selling his own company.
The firm focus on values-based wealth, income and estate planning, and also assists clients with insurance, taxes, real estate holdings, credit solutions, multigenerational wealth planning, entrepreneurial needs and philanthropy.