Investment advisors team up to serve smaller wealth managers

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Posted: Monday, July 22, 2013 12:00 am

Two Omaha investment advisors have formed a new firm to serve smaller wealth managers who want to outsource certain tasks.

Arbor Point Advisors is a joint venture between Securities America and NorthStar Financial Services Group, the companies said in a statement.

The company, registered with the Securities and Exchange Commission as an investment advisor, said it aims to offer back-office services to other advisors with $50 million to $250 million of assets under management.

“The challenge advisors face in running their own registered investment advisor is the significant time spent on compliance, technology and administration – time they aren’t spending with clients,” said Jim Nagengast, chief executive of Securities America, a division of Florida-based Ladenburg Thalman Financial Services.

Arbor Point, the company said, has a system that allows advisors to deal directly with major firms such as TD Ameritrade, Schwab and Fidelity Institutional.

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