Investacorp Recruits Wealth Innovations, A Leading Independent Financial Advisory Practice Focused On Tax-Efficient Wealth Transfer Strategies For Retirees
Father-Son Team Brings $80 Million in Client Assets, Underscoring Investacorp’s Expertise in Supporting Multigenerational Family-Run Independent Practices
Investacorp, Inc. an independent advisory and brokerage firm announced that Wealth Innovations, LLC, has joined the firm’s brokerage and RIA platforms.
Based in Richmond, Va., Wealth Innovations is an independent financial advisory practice encompassing five professionals, led by James LaNeave, the firm’s Managing Director. Mr. LaNeave’s son, Samuel LaNeave serves as Managing Partner, while Mr. LaNeave’s daughter, Ashley, oversees the team’s operations and administration functions. With $80 million in client brokerage and fee-based advisory assets, Wealth Innovations specializes in delivering retirement income and estate planning services, with a focus on tax efficiency and wealth transfer between generations.
Patrick Farrell, President and CEO of Investacorp, said, “We’re thrilled to welcome Wealth Innovations to the Investacorp community of independent advisor businesses. The dedication of James and Samuel LaNeave to providing exceptional client service under a business culture that emphasizes family camaraderie makes their practice a natural fit with Investacorp. The LaNeaves also stand out as a role model for practices who could benefit from our Multigenerational Consulting Solutions (MCS) platform, launched earlier this year. While the LaNeaves possess a comprehensive succession plan, many other practices struggle with business continuity planning.”
The five-person Wealth Innovations team builds comprehensive retirement plans for individuals and couples along with a tactical investment approach that helps clients build, retain and transfer wealth despite potential financial market volatility. The LaNeaves also go beyond investment guidance by providing each client with a full-lifecycle financial analysis including estate and trust plan reviews, health insurance and long-term care expense forecasting, as well as retirement income scenarios to address the unexpected.
Investacorp launched the MCS platform to provide short- and long-range practice management consultations to develop and implement succession planning for practices with varying years of runway to become multigenerational businesses.
James LaNeave said, “We are pleased to affiliate with Investacorp. As part of our three-month due diligence process, I spoke with multiple firms, and it was clear to us almost from the start that Investacorp was the best fit, thanks to the down-to-earth and welcoming nature of the home-office staff, which reflects the family atmosphere I have tried to cultivate within my own firm. But not only is the staff approachable and friendly, it is experienced and familiar to all Investacorp advisors, with most having been with the firm for more than 10 years. This longevity of tenure among home office staff members is a rarity in our industry, bringing a level of service consistency that our practice needs and our clients rightfully expect.”
Mr. Farrell concluded, “At Investacorp, we strive to help our family of advisors build legacies and create continuity of service for clients, while forging an invigorating culture of togetherness. I look forward to building meaningful and collaborative relationships with James and Samuel for many years to come, and with the help of the tools and resources provided to us by our parent company, Ladenburg Thalmann, helping to champion their family’s achievements at each stage of their business.”
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