On May 11, 2023, Stratos Wealth Enterprises announced that it will acquire a majority stake in BWM Financial.
Under the terms of the transaction, Stratos Wealth Enterprises (“Stratos”) is acquiring a majority stake in BWM Financial (“BWM”). BWM will rebrand as Stratos Private Wealth and the BWM CEO, Jeff Brown, will serve as the President of Stratos Private Wealth.
Stratos, based in Beachwood, Ohio, is a registered investment advisor. Stratos is part of Stratos Wealth Holdings that collectively has $22.8 billion in brokerage and advisory assets under management. Stratos is backed by Seward & Kissel client Emigrant Partners, LLC.
BWM, based in San Diego, caters to high-net-worth clients, including business professionals and founders. As of February 2022, BWM had $1.5 billion in assets under management.
To read the press release: please click here.