Stratos Recruits $700 Million Firm From Osaic

Stratos Onboards 20-Person California Firm, Will Provide Investment Services And In-Firm Leadership Transition Support
Charles Shapiro, Founding Partner & Chief Development Officer, Stratos Wealth Partners
Charles Shapiro, Founding Partner & Chief Development Officer, Stratos Wealth Partners

Stratos Wealth Partners, part of Stratos Wealth Holdings, announced that it recruited Redwood City, California-based Pettinelli Financial Partners, with $700 million in client assets. The firm, a team of 20 advisors and staff led by Founder and Firm Ambassador Dennis Pettinelli and President Jon Pettinelli, joins Stratos from Osaic subsidiary Royal Alliance.

Stratos Founding Partner and Chief Development Officer Charles Shapiro said, “Dennis, Jon and their team have built an incredible business helping multi-generational clients achieve financial goals and preserve wealth for future generations. We look forward to supporting their needs in practice management, recruiting and investment management strategies.”

Jon Pettinelli, President, Pettinelli Financial Partners
Jon Pettinelli, President, Pettinelli Financial Partners

Dennis Pettinelli founded Pettinelli Financial Partners and Jon Pettinelli joined in 2001, rising to President in 2020. Stratos will help the firm complete its leadership transition from Dennis to Jon Pettinelli. Stratos will also provide services from its investment division Stratos Investment Management, formerly named Fundamentum.

Jon Pettinelli said, “We chose Stratos Wealth Partners because we wanted a hybrid firm with multiple custodians that could help us create efficiencies and scale to enable our continued growth. Stratos also offers advisor support and portfolio management solutions to deepen our client relationships.”

Dennis Pettinelli, Founder & Firm Ambassador, Pettinelli Financial Partners
Dennis Pettinelli, Founder & Firm Ambassador, Pettinelli Financial Partners

“Stratos extensive experience driving growth in firms like ours will help guide our new leadership after our transition,” added Dennis Pettinelli. “But more importantly, the team at Stratos aligns with our core values and mission of delivering best-in-class results for our clients.”

As of Dec. 31, Stratos Wealth Partners managed over $11.8 billion in advisory assets and, through LPL Financial, advised on over $8.4 billion in brokerage and third-party managed assets. The firm has 290 independent advisor affiliates and over 100 locations. In August, Stratos Wealth Holdings named Phil Nuttall as COO. In June, Stratos Wealth Holdings subsidiary Stratos Wealth Advisors onboarded advisor Robert A. Hamer, with $250 million in assets.

Julius Buchanan, Editor in Chief at Wealth Solutions Report, can be reached at jbuchanan@wealthsolutionsreport.com.

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