Journey Strategic Wealth, a $3.1 billion registered funding advisor partnership launched in 2021, has added a $160 million Minneapolis crew from Carson Group. Meath Wealth Advisors, which incorporates advisors Kerry Meath-Sinkin and her father Robert Meath, will likely be Journey’s first Minneapolis workplace.
Meath represents the seventh crew to hitch Journey since its inception in 2021, and it’ll increase Journey’s footprint within the Twin Cities market. Journey has different places within the San Francisco Bay Space; Richmond, Va.; Seattle; Park Metropolis, Utah; New York; and Northern New Jersey.
Monetary advisors and former Dynasty Monetary Companions executives Michael Brown and Brian Flynn, together with apply administration coach Penny Phillips, based Journey in January 2021.
Based mostly in Summit, N.J., Journey is structured as a hybrid RIA, affiliated with dealer/supplier Purshe Kaplan Sterling Investments. They wish to tuck in advisor groups, however agency principals say they will present extra companies than the standard affiliation platform, significantly with consulting round apply administration. Along with tucking in, advisors might also select to promote all or a part of their apply to Journey.
When an advisor joins the agency, they arrive underneath Journey’s ADV, however they nonetheless personal their e-book of enterprise in the event that they resolve to go away. Journey offers the important operations advisors want to run their companies, together with operations and billing, human assets and payroll, funding administration, monetary planning help, know-how, dwelling workplace help and advertising. Advisors that be a part of Journey can hold their administrative workers, affiliate advisors and anybody else who’s client-facing, and their whole crew goes onto Journey’s payroll. Advisors get a payout of round 50% to 60% of gross income, provided that Journey is protecting all of those companies.
