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By: Gustian Farrow, Head of StoneX TV • Content Channels
StoneX Wealth Management’s Chief Investment Officer, Michael Lytle, shares insights into the firm’s journey from a legacy clearing operation to a modern, globally connected wealth management platform.
The acquisition of Stern Agee by INTL FCStone (now StoneX) in 2016 brought together a firm with over 100 years of wealth management experience and a strong clearing operation. As Michael Lytle explains, the business now combines both a registered investment advisor (RIA) and broker-dealer model: “The RIA is kind of the future of the industry if you will. Fastest growing segment…”. The broker-dealer side, while legacy, remains a part of the broader offering.
StoneX Wealth Management is headquartered in Birmingham, Alabama, with additional offices serving both domestic and Latin American markets. The business includes two main channels: independent advisors, who leverage StoneX’s technology and compliance infrastructure, and a private client group with nearly 20 advisors in multiple locations. “That channel for us… includes over 500 advisors in 42 different states here in the US,” Lytle states. A Miami office focuses on Latin America, creating connections to StoneX’s commodity business.
Being part of StoneX brings significant advantages, notably direct access to global research, strategy, and institutional expertise. Lytle notes, “My team can pick up the phone or drop a team's message to someone literally around the world… that may be covering a market that we need some information on”. Support from StoneX’s marketing and market intelligence teams further expands the reach and depth of information available to advisors and clients.
With about $16 billion in assets and over 97,000 accounts, StoneX Wealth Management serves a broad client base. “Our average client’s around half 1 million to $1 million,” Lytle says. The business is actively building its presence in both the US and Latin America, leveraging its unique position within StoneX to connect clients with global expertise and resources.
With a legacy spanning over 100 years, StoneX Wealth Management offers financial services and cutting-edge tools designed to build and safeguard wealth and ensure financial well-being.
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---- Written by Gus Farrow
---- Expert: Michael Lytle, Chief Investment Officer, StoneX Wealth Management
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