Pinnacle Investments, LLC, a 25-year-old investment firm headquartered in Syracuse, expanded their business in Morristown, New Jersey with the procurement of three reps formerly affiliated with The Variable Annuity Life Insurance Company (VALIC). Andrea Coladarci, Adam DeSimone, and Adam Gartside, now doing business as Prime Wealth Group, each left VALIC Friday after 11, 3, and 2 years respectively. Together they were overseeing $200 million in assets.
“We are thrilled to have this team join our growing firm,” says Mark Nardella, President of Pinnacle Investments. “Having transitioned from VALIC to Pinnacle myself over two years ago, I can attest to the positive impact that move has been for my business. I’m excited to witness the team unleash their full potential as they are now able to provide their clients with a true open architecture platform of financial products and services. Undoubtedly, their clients will be the ones who benefit most from this move.”
Latest Fintech News: Stonepeak Successfully Completes $3.0 Billion Equity Recapitalization of Portfolio Company Cologix
Pinnacle incentivizes independent recruits with competitive payouts, which are well above the 45-50% high earners at a wirehouse could earn. They also recruit based on an “ownership” model, offering reps equity in the parent company, Pinnacle Holding Company, LLC, which also owns Pinnacle Employee Services, a professional employer organization; Pinnacle Capital Management, a money management firm; and Confidential Planning, a 403(b) provider.
Latest Fintech News: Zaggle Partners With Tata Capital’s Moneyfy Platform to Offer Investment Products to Its 4.5+ Million Users
“Landing such a well-rounded, hardworking, client-focused investment group to our firm is a testament to the exceptional culture Pinnacle Investments is building in the industry,” states the CEO of Pinnacle Investments, Ben Quilty. “Our recruitment team has done a tremendous job of getting our unique message to advisors looking to transition their business to a truly independent financial services company, managed by advisors themselves. We encourage any advisor or team of advisors looking to enhance their advisor-client experience to consider Pinnacle as their forever home, just as Prime Wealth Group has done.”
Latest Fintech News: BlockFills Announces Integration with Sudrania Fund Services to Provide Fund Administration Services
[To share your insights with us, please write to sghosh@martechseries.com]
