Wealthcare, an integrated tech platform, hybrid registered investment advisory firm and TAMP based in West Chester, Pa., has launched a new RIA and affiliation model for advisors that join, according to Form ADV filings.
The firm was light on the details of Wealthcare Capital Partners, which registered with the Securities and Exchange Commission last month. The RIA also recently joined the Protocol for Broker Recruiting.
“Wealthcare remains committed to providing its independent advisors with flexible solutions and elevated service,” Wealthcare President and CEO Matt Regan said in a statement. “One of the many ways we offer that to our clients is through our flexible affiliation models. Wealthcare Capital Partners is our latest offering in aiming to meet the needs of select advisors interested in joining Wealthcare.”
Craig Fischer, owner of Atlantic Financial Services, an RIA in Towson, Md. with nearly $141 million in client assets, has joined Wealthcare’s new RIA. He uses M.S. Howells & Co. as his broker/dealer.
According to its ADV filing, Wealthcare Capital Partners will use M.S. Howells and Arkadios Capital for brokerage business, and TD Ameritrade, Schwab, Fidelity and Pershing for custody.
The RIA will provide forgivable transition notes to its advisors based on the client assets that come over.
The RIA may select Wealthcare Capital Management to act as sub-advisor for advisory services, with WCM providing financial planning, investment advisory and portfolio management services to Wealthcare Capital Partners, the filing stated. It will use DPL Financial Partners for insurance.
The RIA will provide investment advisory services to individuals, high-net-worth individuals, trusts, estates, retirement plans, charitable organizations and other businesses. The firm will provide project-based financial planning and consulting services on an hourly or fixed fee basis, as well as retirement plan advisory services.
Founded in 1999 and backed by private equity partner NewSpring Holdings, the Wealthcare business model is based on the integrated planning software developed by founder and former CEO Dave Loeper. Used throughout the industry as a white-label product (it's known as Envision at Wells Fargo), the goals-based software is the framework around which Loeper created his flagship RIA, Wealthcare Capital Management. The hybrid Wealthcare Advisory Partners was established later to accommodate advisors with brokerage business held away at LPL Financial. Across both platforms, the firm currently oversees more than $6 billion in client assets across more than 170 independent practices.
Wealthcare Capital Management entered the RIA M&A market in 2022 with its acquisition of Eagle Financial Management Services, a Shreveport, La.-based firm with more than $120 million in assets.