$750M Wells Team Launches Dynasty-Backed RIA, ETF Shop

Wirehouse brokers often cite conflicts around proprietary products as a reason to go independent. A former Wells Fargo Advisors team is making the opposite bet, launching a pair of RIAs designed in part to manage and distribute their own funds. 

Andrew Urbanski, his sister, Lauren, and his brother, Adam, and Karo Lokmanyan launched N10 Holdings based in Greenwich, Connecticut, according to an announcement on Tuesday. The group, backed by Dynasty Financial Partners, had managed around $750 million at Wells, according to the announcement. 

The team said that they expect to have $650 million in assets under “advisement” at their wealth manager, N10 Wealth, while the fund manager, N10 Assets, will seek to transfer around $350 million from individuals invested in their proprietary stock strategy. 

Read the full article on AdvisorHub.com.