Key collaborators include Decerno, Arete, and
BNY Pershing
Crux Wealth Advisors (Crux) is with this news release publicly
announcing their official launch as a hybrid Registered Investment
Adviser and full service wealth management firm. After two years of
due diligence and preparation, the now fully autonomous firm
launched with its first tranche of $1 billion in client assets
under management (AUM) in a planned multi-phase transition strategy
in order to minimize client and business disruption, while allowing
for equally as efficient transitions in the coming months.
Crux parted ways with Raymond James Financial Services (RJFS) on
August 2, 2024. Crux founder and CEO Travis Alexander, MBA, CRPC®,
originally established the company in 2016 and had an impressive
tenure while on the RJFS platform, growing the firm AUM from ~$70
million in the first year to over $3 billion while on the platform.
This success quickly propelled Crux into the top ten branch
rankings based on trailing twelve revenue across RJFS.
“This is an exciting time – it’s the culmination of focused team
effort and professional collaboration with key stakeholders and
strategic partners,” said Mr. Alexander. “We’re embarking into what
I would call phase two of our business. During phase one, we had to
establish proof of concept and scale. Ultimately this allowed us to
evolve into phase two, where we can truly innovate and optimize the
firm without bureaucratic constraints or influences that are out of
alignment with our values and vision.”
“We have always taken a contrarian approach to many of the
traditional precedents in our industry, and have no intention of
changing that now,” he continued. “In fact, we are going to apply
that thought process even more surgically moving forward. Growth
for the sake of growth is not what we’re solving for. Sure, that
can have a positive impact on share price or profitability, but
oftentimes it doesn’t correlate to improving client experience and
success. That’s what our growth plan is solving for.”
With multiple locations across the United States, Crux is poised
to expand and is actively looking for right-fit advisors who want
to join forces. Tuck-in and breakaway advisors who may be
interested in adopting the Crux mission and folding in are
encouraged to request a confidential conversation with Mr.
Alexander.
KEY COLLABORATORS INCLUDE DECERNO, ARETE, AND BNY
PERSHING
Manhattan-based Decerno Advisors served as a strategic
advisor for Crux Wealth Management throughout the process.
“Radical transparency and intentional disruption are the reasons
for Crux’ move away from the Red Ocean advisor business models.
Crux’ new Blue Ocean of market options and opportunities will
provide the advantages needed to continually innovate and realize
the positive disruption envisioned,” said Kevin Geary, Decerno's
Founding Partner. “It has been a pleasure working with Travis
Alexander and his team at Crux Wealth Advisors as they move into
phase two of their amazing journey.”
Chicago-based Arete Wealth, Inc., member FINRA and SIPC,
will serve as the accommodating broker/dealer and insurance agency
for hybrid advisors who join Crux.
“The addition of Crux Wealth Advisors to the Arete Wealth
network is a significant step forward for both firms,” said Joshua
Rogers, CEO and Founder, Arete Wealth. “This strategic partnership
with Crux demonstrates our commitment to build strong relationships
with top performers while upholding the highest standards of
excellence in wealth management. I’m thrilled for the opportunities
and successes this new chapter will bring our firms.”
BNY Pershing, a leading provider of global financial
business solutions, will provide Crux Wealth Advisors with clearing
and custody services.
“We just shared the news last month that Arete Wealth was
expanding its agreement with BNY Pershing, so it’s great to see
that a firm like Crux Wealth Advisors is joining forces with Arete
Wealth to help them realize their goal of becoming an independent
registered investment advisor,” said Ben Harrison, Head of Wealth
Solutions, BNY Pershing. “It’s the ultimate growth story in the RIA
space.”
ABOUT CRUX WEALTH ADVISORS
Led by founder and CEO Travis Alexander, MBA, CRPC®, Crux Wealth
Advisors (Crux) is an independent financial advisory firm
specializing in fiduciary financial planning and investment
management. Mr. Alexander earned an MBA from Gonzaga University,
and a bachelor’s degree from the Hugh Downs School of Human
Communication from Arizona State University. Forbes named him to
their “Best in State” list in 2023 and their “Top Next Gen
Advisors” (both national and state lists) in 2022. AdvisorHub named
him to their “150 Advisors to Watch” list in 2024. Headquartered in
Long Beach, California, advisors who join the Crux team are
empowered to serve their clients in the most ethical and
personalized way. Crux is growing rapidly and welcomes inquiries
from advisors and advisor teams seeking a supported independent RIA
model. Learn more at www.CruxWealthAdvisors.com.
ABOUT DECERNO ADVISORS
Decerno Advisors is a leading strategic advisor to wealth
managers offers a wide range of investment banking services to its
clients. Founded by a team of experts, and focused on providing
personalized, professional, and unbiased advice to help clients
launch, expand, and monetize financial advisory firms, Decerno – a
name that was derived from the Latin phrase “to decide” – provides
trusted and independent guidance to help wealth managers tackle the
M&A landscape. Decerno helps clients navigate the industry and
understand their worth through experienced counsel and thoughtful
valuation services – for "if and when" they're ready to sell.
Decerno has completed dozens of acquisitions and is not governed by
a board nor pressured by financial targets or artificial timelines.
Learn how Decerno Advisors helps its clients achieve their business
and personal objectives by visiting www.DecernoAdvisors.com.
ABOUT ARETE
Arete Wealth, Inc. is a remarkably sophisticated financial
services and wealth management firm. Arete Wealth offers expertise
across a wide array of services including investment banking,
managing broker-dealer services, financial and estate planning,
investment advice and asset management, insurance and annuities,
and an art and wine consultancy. The firm delivers financial
solutions via institutional, full-service, and direct-to-consumer
digital investment channels. Arete Wealth’s diversified offerings
and unique access to alternative investments, venture capital, and
private equity programs are incomparable in the industry. The
firm’s financial professionals are highly ranked within the
industry, serving clients that include high-net-worth individuals,
institutions, other broker-dealers, independent registered
investment advisors, family offices, and sponsors of investment
offerings. Founded in Chicago 2007, Arete Wealth has over 50
offices across the country and is consistently ranked a top US
independent hybrid broker-dealer and registered investment advisory
firm, based on growth and revenue. Find out why the firm is the
right fit for refined investing at www.AreteWealth.com.
Arete Wealth Advisors LLC and Arete Insurance Agency LLC are
affiliates of Arete Wealth Management, LLC. Advisory services
offered through Arete Wealth Advisors, an SEC registered investment
advisor. Securities offered through Arete Wealth Management, LLC,
member FINRA and SIPC.
ABOUT BNY
BNY is a global financial services company that helps make money
work for the world — managing it, moving it and keeping it safe.
For 240 years, BNY has partnered alongside its clients, putting its
expertise and platforms to work to help them achieve their
ambitions. Today, BNY helps over 90% of Fortune 100 companies and
nearly all the top 100 banks globally access the money they need.
It supports governments in funding local projects and works with
over 90% of the top 100 pension plans to safeguard investments for
millions of individuals, and so much more. As of June 30, 2024, BNY
oversees $49.5 trillion in assets under custody and/or
administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon
Corporation (NYSE: BK). Headquartered in New York City, it employs
over 50,000 people globally and has been named among Fortune’s
World’s Most Admired Companies and Fast Company’s Best Workplaces
for Innovators. Additional information is available at
www.BNY.com.
BNY Pershing (member FINRA, NYSE, SIPC) is a leading
provider of clearing and custody, trading and settlement, advisory
and investment solutions, data insights, business consulting and
other services to wealth management and institutional firms looking
to grow their businesses. For more information, go to:
www.Pershing.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240813996827/en/
Colin Swift, Impact Communications, Inc. For Crux Wealth
Advisors 913-649-5009 office / 913-961-4030 cell
ColinSwift@ImpactCommunications.org