SAN DIEGO--(BUSINESS WIRE)--Richard Keltner, CFA, has joined sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF) as senior vice president, advisory services. In this role, Keltner sets the overall advisory strategy for the two broker-dealers and SEC Registered Investment Advisers that provide customized investment and insurance solutions to financial institutions.
Keltner is overseeing development and implementation of both full service and digital advisory services, including product development, pricing, custody/clearing platform selection and sales/product training to advisors. Having more than 20 years of experience in the asset and wealth management industry, Keltner is well-versed in talent development and portfolio management as well.
In the changing climate engendered by the DOL Fiduciary Rule, advisory services have taken on even greater importance within the investment services industry as institutions and advisors seek to balance their revenue streams by incorporating more fee-based services. Broker-dealers are also looking to new technologies to meet the demands of an increasingly mobile society and of younger people who prefer to do their banking online. Assets under management by digital adviser platforms are estimated to increase 68 percent annually to about $2.2 trillion in five years, according to recent projections from consulting firm A.T. Kearney, reported in Bloomberg News.
“CFS and SPF have shown, over our 20-year history, that we thrive amid change due to our foresight and flexibility. Although we have been offering advisory services throughout our history, we recognized that this area will offer extreme growth within the next few years. Hiring another experienced manager with the background and technology acumen to address the changing industry needs was the next logical step for us – and Rich is that leader,” says Valorie Seyfert, CEO for the two companies. “We are very glad to have him as a member of our senior management team.”
About CUSO Financial Services, LP and Sorrento Pacific Financial LLC
Full-service, sister broker dealers CUSO Financial Services, L.P. and Sorrento Pacific Financial, LLC (Members FINRA/SIPC) provide customized investment and insurance solutions to financial institutions throughout the country. Headquartered in San Diego, with branch offices and licensed representatives nationwide, both broker dealers are SEC Registered Investment Advisers, with expertise in key areas including retirement services, wealth management, and fee-based and insurance products for both individuals and business customers. For more information, see www.cusonet.com or www.sorrentopacific.com or visit their LinkedIn pages: CFS and SPF.
Note to editors: Photo available upon request.