A Nashville-based financial planning firm with more than $150 million in assets under management will join with SA Stone Wealth Management, an independent broker/dealer with $12 billion AUM that was formerly with Sterne Agee and is now a subsidiary of INTL FCStone.
SA Stone’s recruitment of Legacy Investment Planning follows its recruitment of the San Clemente, Calif.-based SB Wealth in May of this year, which managed $200 million in client assets and joined SA Stone from Cetera Advisor Networks (Legacy is joining SA Stone as an independent firm).
The Legacy team includes President Sten Morgan, as well as fellow Financial Services Executive Dustin Perkins and an additional three-person team. The firm offers a variety of services, including investment management, fee-only financial planning, as well as retirement planning. Morgan lauded SA Stone, saying the deal stemmed from their “due diligence” for a partner.
As a result of the deal, the Legacy team will be able to access SA Stone’s brokerage, advisory and trust services, as well as custody and clearing services supplied by INTL FCStone. The financial services firm founded its custody/clearing business in November of 2016; in August of that year, Stifel Financial announced it would sell Sterne Agee’s wealth management businesses to INTL FCStone; Sterne Agee Financial Services and Sterne Agee Investment Advisors subsequently became SA Stone Wealth Management and SA Stone Investment Advisors in 2017.
