Washington Wealth Management LLC has opened a new branch in Richmond, Va., just three months after launching the employee-owned registered investment advisory firm.

Based out of Middleburge, Va., Washington Wealth Management launched in December 2010. The RIA firm says its mission is to provide clients and advisors with independence by breaking from the typical wirehouse relationship.

"We are proud of our quick expansion and the opening of this second branch. We've launched two branches since we started in December, and we're hopeful to be adding several more in the coming months," says Ross Wilkinson, director of development for Washington Wealth Management.

In addition to announcing the new branch, the firm says it has appointed E. Lee Pinney Jr., a 30-year veteran of the financial services industry, as the managing director of Washington Wealth Management's new Richmond branch.

"I am thrilled Lee has joined us in this endeavor," said Washington Wealth Management founder and CEO Tony Sirianni. "His dedication to his clients matches the values we hold, and we are confident that his vast experience as a top-producing advisor will allow his business and this new branch to thrive in Richmond."

Previously, Pinney served as senior managing director for Scott & Stringfellow. Pinney has more than 25 years of experience in the Richmond area.

According to Sirianni, Washington Wealth Management was established to create a branch network of independent financial advisors. Being employee owned, the firm offers advisors the opportunity to take ownership in their business, and provides them and their clients with access to a full set of investment products and services.