HamptonRock Partners, a Texas-based boutique investment bank and advisory firm, has launched HamptonRock Wealth Management, a registered investment advisor firm in Austin. The firm has hired David Dodson, a former executive director of investments and “OMEGA Group” portfolio manager at Oppenheimer & Co., to lead the new wealth business.
HamptonRock will seed the new business line with Dodson’s existing book of business, as well as existing investment banking clients seeking wealth management services. Dodson declined to say how many assets the business had.
Stuart Brown, founder and managing director at HamptonRock, said the wealth business provides another way to service clients; the firm hopes to tap into the synergies between investment banking and wealth management.
“With investment banking, you have business owners who are thinking through estate planning, sometimes far in advance of a transaction, if you really want to do it the right way, and others who go through a transaction but are looking for exciting ways to manage money, preserve their wealth, protect their family for multiple generations,” Brown said. “The liquidity events that we’re in front of, obviously, is a synergy for David’s wealth management practice.”
And vice versa, Dodson may have business owner clients looking for investment banking services.
Having a wealth management business in-house can also help business owners plan for their exit earlier on in the process, Dodson said.
“There are so many opportunities for planning—exit planning with clients, and those are so important to tackle somewhere between six months before the exit, even out to two years or longer in some cases,” he said.
HamptonRock Wealth Management will use Charles Schwab for custody and HamptonRock’s broker/dealer for brokerage business. The firm has also joined the Protocol for Broker Recruiting.
