NEW YORK--(BUSINESS WIRE)--Siebert Financial Corp. (NASDAQ:SIEB) today announced the formation of Siebert Investment Advisors, Inc. “SIA,” a wholly-owned subsidiary of Siebert Financial and an SEC Registered Investment Advisor. Under a service arrangement with Palladiem LLC, a leading institution in the investment advisory business, the SIA investment management unit will provide an array of customized investment products and services to clients.
Suzanne Shank, Acting CEO of Siebert Financial, said, “The introduction of an investment management division at our firm is a major step forward in our mission to build upon the stellar legacy of integrity and sound business practices established by our founder, Muriel “Mickie” Siebert. Over the years, many of our clients expressed a strong interest in an advisory option. As we considered ways to continue Mickie’s legacy of innovation, while broadening our relationships and engaging more deeply with our clients, investment management was a clear area for expansion.”
Palladiem, LLC, with $838 million in client assets under management as of March 31, 2014, was founded in 2011 by the former senior management team of Lockwood Advisors, who have, on average, 25 years’ industry experience.
“We are honored and delighted to be selected by the Siebert team as a partner, along with Brinker Capital, in the new formation of Siebert Investment Advisors. We are also excited to be part of extending the legacy that Muriel Siebert built and look forward to working together with our new partners and serving their clients as we take the entire partnership to the next level.” – Don Robinson, Palladiem CEO.
Palladiem, LLC was recently ranked third among the Top 50 emerging Registered Investment Advisor firms in the U.S. by Financial Planning Magazine.
In addition, SIA will provide access to Brinker Capital’s Destinations Mutual Fund Wrap Program, which offers asset allocation strategies targeting specific investment objectives. Brinker Capital is an investment management firm with $16.6 billion in client assets under management as of March 31, 2014. It has provided customized investment products and services to high net-worth individuals, employers, institutions and foundations for more than 27 years.
“My partners and I hold SIA’s founders in very high regard, and have found them to be highly motivated, ethical and client-focused investment professionals. Our partnership reflects not only our respect for their franchise, but also an alignment with a firm whose culture and principles mirror that of our own.” - Noreen D. Beaman, Brinker Capital CEO.
“Integrity, client service and sound business practices will be hallmarks of SIA, as they have been with Siebert for more than 40 years,” Shank noted. “We are very pleased to work with Palladiem, LLC, and Brinker Capital. Both firms have highly experienced and professional investment teams, and their extensive capabilities and knowledge of the markets enable us to expand our offerings and deliver the highest quality financial services while also providing the excellent service our clients have come to expect from us.”
Shank was named Acting CEO of Siebert Financial after the death of Mickie Siebert in 2013. A 25 year veteran of the industry, Ms. Shank is also President and CEO of the municipal finance firm Siebert Brandford Shank & Co., L.L.C., which she co-founded with Mickie Siebert and Napoleon Brandford in 1996.
Mickie Siebert, who became the first woman member of the New York Stock Exchange in 1967, built Siebert Financial Corp.’s reputation for integrity, quality, service, execution and sound business practices in the securities industry over 40 years.
The launch of SIA underscores the firm’s commitment to try to assist clients in developing a more stable and predictable road map to reach long-term financial objectives specific to their lifetime goals, priorities and investment objectives. The process begins with SIA advisors identifying, defining and quantifying the personal financial goals of clients. Once those parameters are set, the SIA team will work to develop a tailored plan to help enhance, protect and preserve the assets that are key to achieving their financial goals.
About Palladiem LLC
Palladiem LLC is an independent, employee-owned investment advisory firm that provides customized investment strategies and services to independent financial advisors, broker dealers and institutions through industry-leading capabilities in portfolio management, capital markets research, asset allocation, individually managed accounts and portfolio manager selection. The firm is headquartered in Malvern, PA. News, research and other information about Palladiem are available at http://www.palladiem.com/
About Brinker Capital
Brinker Capital, Inc. is a leading investment management firm that provides managed account investment programs to individual and institutional investors through financial advisors. Brinker was founded in 1987 by Charles Widger and is located in suburban Philadelphia. Learn more at www.brinkercapital.com and www.twitter.com/BrinkerCapital. Brinker Capital, Inc. a Registered Investment Advisor
About Siebert Financial Corp.
Siebert Financial Corp. is a holding company which conducts all of its brokerage operations through Muriel Siebert & Co., Inc. The firm became a member of the New York Stock Exchange in 1967, when Ms. Siebert became the first woman to own a seat on the Exchange. The firm is also certified as a woman-owned business enterprise ("WBE"). Siebert Financial is based in New York City with additional retail branches in Boca Raton, FL, Beverly Hills, CA and Jersey City, NJ.
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