LONG BEACH, Calif.--(BUSINESS WIRE)--Crux Wealth Advisors (Crux) is with this news release publicly announcing their official launch as a hybrid Registered Investment Adviser and full service wealth management firm. After two years of due diligence and preparation, the now fully autonomous firm launched with its first tranche of $1 billion in client assets under management (AUM) in a planned multi-phase transition strategy in order to minimize client and business disruption, while allowing for equally as efficient transitions in the coming months.
Crux parted ways with Raymond James Financial Services (RJFS) on August 2, 2024. Crux founder and CEO Travis Alexander, MBA, CRPC®, originally established the company in 2016 and had an impressive tenure while on the RJFS platform, growing the firm AUM from ~$70 million in the first year to over $3 billion while on the platform. This success quickly propelled Crux into the top ten branch rankings based on trailing twelve revenue across RJFS.
“This is an exciting time – it’s the culmination of focused team effort and professional collaboration with key stakeholders and strategic partners,” said Mr. Alexander. “We’re embarking into what I would call phase two of our business. During phase one, we had to establish proof of concept and scale. Ultimately this allowed us to evolve into phase two, where we can truly innovate and optimize the firm without bureaucratic constraints or influences that are out of alignment with our values and vision.”
“We have always taken a contrarian approach to many of the traditional precedents in our industry, and have no intention of changing that now,” he continued. “In fact, we are going to apply that thought process even more surgically moving forward. Growth for the sake of growth is not what we’re solving for. Sure, that can have a positive impact on share price or profitability, but oftentimes it doesn’t correlate to improving client experience and success. That’s what our growth plan is solving for.”
With multiple locations across the United States, Crux is poised to expand and is actively looking for right-fit advisors who want to join forces. Tuck-in and breakaway advisors who may be interested in adopting the Crux mission and folding in are encouraged to request a confidential conversation with Mr. Alexander.
KEY COLLABORATORS INCLUDE DECERNO, ARETE, AND BNY PERSHING
Manhattan-based Decerno Advisors served as a strategic advisor for Crux Wealth Management throughout the process.
“Radical transparency and intentional disruption are the reasons for Crux’ move away from the Red Ocean advisor business models. Crux’ new Blue Ocean of market options and opportunities will provide the advantages needed to continually innovate and realize the positive disruption envisioned,” said Kevin Geary, Decerno's Founding Partner. “It has been a pleasure working with Travis Alexander and his team at Crux Wealth Advisors as they move into phase two of their amazing journey.”
Chicago-based Arete Wealth, Inc., member FINRA and SIPC, will serve as the accommodating broker/dealer and insurance agency for hybrid advisors who join Crux.
“The addition of Crux Wealth Advisors to the Arete Wealth network is a significant step forward for both firms,” said Joshua Rogers, CEO and Founder, Arete Wealth. “This strategic partnership with Crux demonstrates our commitment to build strong relationships with top performers while upholding the highest standards of excellence in wealth management. I’m thrilled for the opportunities and successes this new chapter will bring our firms.”
BNY Pershing, a leading provider of global financial business solutions, will provide Crux Wealth Advisors with clearing and custody services.
“We just shared the news last month that Arete Wealth was expanding its agreement with BNY Pershing, so it’s great to see that a firm like Crux Wealth Advisors is joining forces with Arete Wealth to help them realize their goal of becoming an independent registered investment advisor,” said Ben Harrison, Head of Wealth Solutions, BNY Pershing. “It’s the ultimate growth story in the RIA space.”
ABOUT CRUX WEALTH ADVISORS
Led by founder and CEO Travis Alexander, MBA, CRPC®, Crux Wealth Advisors (Crux) is an independent financial advisory firm specializing in fiduciary financial planning and investment management. Mr. Alexander earned an MBA from Gonzaga University, and a bachelor’s degree from the Hugh Downs School of Human Communication from Arizona State University. Forbes named him to their “Best in State” list in 2023 and their “Top Next Gen Advisors” (both national and state lists) in 2022. AdvisorHub named him to their “150 Advisors to Watch” list in 2024. Headquartered in Long Beach, California, advisors who join the Crux team are empowered to serve their clients in the most ethical and personalized way. Crux is growing rapidly and welcomes inquiries from advisors and advisor teams seeking a supported independent RIA model. Learn more at www.CruxWealthAdvisors.com.
ABOUT DECERNO ADVISORS
Decerno Advisors is a leading strategic advisor to wealth managers offers a wide range of investment banking services to its clients. Founded by a team of experts, and focused on providing personalized, professional, and unbiased advice to help clients launch, expand, and monetize financial advisory firms, Decerno – a name that was derived from the Latin phrase “to decide” – provides trusted and independent guidance to help wealth managers tackle the M&A landscape. Decerno helps clients navigate the industry and understand their worth through experienced counsel and thoughtful valuation services – for "if and when" they're ready to sell. Decerno has completed dozens of acquisitions and is not governed by a board nor pressured by financial targets or artificial timelines. Learn how Decerno Advisors helps its clients achieve their business and personal objectives by visiting www.DecernoAdvisors.com.
ABOUT ARETE
Arete Wealth, Inc. is a remarkably sophisticated financial services and wealth management firm. Arete Wealth offers expertise across a wide array of services including investment banking, managing broker-dealer services, financial and estate planning, investment advice and asset management, insurance and annuities, and an art and wine consultancy. The firm delivers financial solutions via institutional, full-service, and direct-to-consumer digital investment channels. Arete Wealth’s diversified offerings and unique access to alternative investments, venture capital, and private equity programs are incomparable in the industry. The firm’s financial professionals are highly ranked within the industry, serving clients that include high-net-worth individuals, institutions, other broker-dealers, independent registered investment advisors, family offices, and sponsors of investment offerings. Founded in Chicago 2007, Arete Wealth has over 50 offices across the country and is consistently ranked a top US independent hybrid broker-dealer and registered investment advisory firm, based on growth and revenue. Find out why the firm is the right fit for refined investing at www.AreteWealth.com.
Arete Wealth Advisors LLC and Arete Insurance Agency LLC are affiliates of Arete Wealth Management, LLC. Advisory services offered through Arete Wealth Advisors, an SEC registered investment advisor. Securities offered through Arete Wealth Management, LLC, member FINRA and SIPC.
ABOUT BNY
BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For 240 years, BNY has partnered alongside its clients, putting its expertise and platforms to work to help them achieve their ambitions. Today, BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. It supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2024, BNY oversees $49.5 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, it employs over 50,000 people globally and has been named among Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators. Additional information is available at www.BNY.com.
BNY Pershing (member FINRA, NYSE, SIPC) is a leading provider of clearing and custody, trading and settlement, advisory and investment solutions, data insights, business consulting and other services to wealth management and institutional firms looking to grow their businesses. For more information, go to: www.Pershing.com.
