An advisor team that managed more than $6 billion in client assets at Morgan Stanley has created its own firm.
Jason Fertitta, a former managing director and private wealth advisor at Morgan Stanley, and 11 team members have created Americana Partners LLC, which is based in Houston.
The new firm is partnering with the Dynasty Financial Partners wealth management network.
Fertitta, who will serve as the new firm's president, had been at Morgan Stanley since 2008. From 2001-2008, he worked in the high-net-worth division of Lehman Brothers. Fertitta now will lead a team of 11 professionals at Americana that include seven financial advisors, many of them his former colleagues at Morgan Stanley, according to a press release.
Americana’s advisors are experienced in alternative investments, manager selection and private placements, the release said, adding that the firm's clients will include entrepreneurs, investors, multigenerational families and family offices. Americana also has offices in Dallas and Austin, Texas.
Fertitta said in a prepared statement that he and his colleagues had deep roots in Texas.
“We will now be able to expand our client offering in a number of ways, including providing our clients access to comprehensive family office services, unique investment opportunities and the ability to source our clients’ capital markets and credit needs across multiple firms,” he said.
Dynasty will provide Americana with wealth management services, and staffing, technology and capital support, according to the release. Dynasty’s integrated platform for independent advisors includes institutional research from Callan Associates, as well as a turn-key asset management platform Dynasty developed with Envestnet.
The Hamburger Law Firm in Englewood, N.J. provided legal counsel for Americana’s transition and launch; Charles Schwab Corp. of San Francisco is providing custody services for Americana’s client assets; and Addepar is providing Americana with consolidated asset and performance reporting.
Americana is the largest single team to join Dynasty's network, the company said.
“We expect to see significant growth of their current business near-term,” said John Sullivan, Dynasty’s director of network development. “We believe that the success of firms like Americana Partners will continue to inspire other advisors to walk the road to independence.”