A father-son advisor group in New Jersey has left Hornor, Townsend & Kent, an impartial dealer/seller owned by Penn Mutual, to launch their very own registered funding advisor. Lance and Gideon Drucker, who handle $750 million in shopper belongings in Woodcliff Lake, N.J., have created Drucker Wealth.
The agency has chosen Constancy and Altruist for custody, in addition to PKS Investments as their dealer/seller.
The Druckers had beforehand been with Hornor, Townsend & Kent for over 40 years, the place they have been the biggest advisory group for 18 straight years. Their agency has 12 folks and serves over 800 purchasers.
The advisors say the transfer was pushed by the evolution of the agency, which has been hiring and coaching new advisors every year to construct scale. It’s additionally added new companies and associate integrations.
However the mannequin had limitations, and so they wanted better customization and suppleness in know-how choices and shopper service. The transfer will present the agency with better freedom and management, they stated.
“Whereas getting so far took quite a lot of lengthy nights and onerous work, we couldn’t be extra excited concerning the alternatives it affords us to innovate and supply even better worth to purchasers long run,” Gideon Drucker stated in an announcement.
