Sound Income Group Integrates Retirement Firms, Appoints Executives

Michael Madden, Contributing Editor & Research Analyst, Wealth Solutions Report

David Scranton’s Three Retirement Businesses Unite At New Headquarters For Integrated Platform With Expanded C-Suite

Sound Income Group announced its launch as the parent company for retirement-focused firms Sound Income Strategies, the Retirement Income Store and Advisors’ Academy, all founded by David Scranton, in a move designed to accelerate the capabilities of each constituent firm to deliver income resources and solutions to financial professionals.

David Scranton, CEO, Sound Income Group

“Our new structure brings together three highly complementary businesses to create a platform that provides the best possible solutions, support and knowledge to independent financial professionals who want to become income specialists,” said Scranton, who will serve as CEO to the newly launched parent company.

Integrated Subsidiaries

The three subsidiaries operate in complementary spaces within retirement planning. Fee-based RIA Sound Income Strategies, with $1.7 billion in assets under advisement, provides support and solutions to independent income specialists and third-party asset manager services to wealth management firms seeking income strategy capabilities. 

Mentoring and coaching

Advisors’ Academy provides mentorship, coaching and growth strategies to independent annuity producers, teaches advisors about fixed income, other income-generating investments and best practices, and helps advisors obtain their series 65.

The Retirement Income Store offers a franchise model to financial advisors who provide retirement planning services, including a regional market, marketing programs and support resources. 

Enhanced Executive Team And New Offices

Patrick Farrell, President & COO, Sound Income Group
Rana Chander, Chief Operating & Information Officer, Sound Income Group

The firm also announced the appointment of Patrick Farrell as President & COO and Rana Chander as Chief Operating & Information Officer and its move into a new 12,000-square-foot Fort Lauderdale, Florida, headquarters with a three-set broadcast studio this month, bringing all three component firms together in the same offices.

Three-set broadcast studio

“Advisors’ Academy, The Retirement Income Store and Sound Income Strategies have been operating in their own silos for years, even though their business strategies were intertwined. With a new holding company and headquarters that puts all our people under one roof, we can advance with a truly cohesive strategy that continues to drive excellence throughout each division,” Scranton said.

With 35 years’ experience in financial services, Farrell previously served in various C-suite roles, including CEO at Investacorp, which is now part of Advisor Group. Chander, who also serves as COO for Sound Income Strategies and Chief Technology Officer for Advisors’ Academy, previously worked at Investacorp as COO and Chief Information Officer and, before that, at Merrill Lynch

“Patrick and Rana have been leaders in the wealth management space for decades and intuitively understand how to create exceptional advisor and client experiences and grow a business in this competitive industry,” Scranton said.

Michael Madden, Contributing Editor & Research Analyst at Wealth Solutions Report, can be reached at

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