VENICE, Fla.--(BUSINESS WIRE)--FourThought Private Wealth, previously known as Pinkerton Private Wealth, today announced its launch as an independent Registered Investment Advisor (RIA) and related rebrand. Headquartered in Venice, FL, the firm will continue to provide comprehensive wealth management services to its high-net worth families, foundations and endowments. It will also expand the company into new business lines.
The team is led by managing partner Scott Pinkerton, CFP®, AIF®, CIMA®, CPWA® and partner William Mehserle, Jr., CFP®, AIF®. In 2019 Pinkerton appeared on lists including Barron’s 1,200 Top U.S. Financial Advisors, Forbes Best-In-State Wealth Advisors and Financial Times Top 400 Financial Advisors. Mehserle was named to Forbes’ Top Next-Gen Wealth Advisors list in both 2018 and 2019.
The management team also includes partner Patrick Baumann, CFA®, CTP, former treasurer of Harris Corporation, who serves as the chief investment officer, and chief operating officer/chief compliance officer Donna Guinta, former chief operations officer of Cadaret, Grant, a large broker-dealer based in New York state.
“Our team draws on more than 50 years of experience to provide individuals and families with tailored solutions to meet their financial goals, as well as extensive resources to support family offices, foundations and endowments,” said Pinkerton. “This move will give us a flexible platform to help clients experience our motto: better decisions – less stress. Being an RIA means that we are always functioning as fiduciaries and are aligned with our clients’ interests.”
Mehserle noted that the transition was the right time to change the firm’s name to FourThought, which is a reflection of its planning orientation and four planning principles. In addition to FourThought Private Wealth, the company includes FourThought Signature, which offers family office services, and FourThought Institutions, which serves businesses and nonprofits.
FourThought Private Wealth has formed strategic relationships with some of the leading providers in the industry, including Fidelity Clearing & Custody Solutions®, which will act as the primary custodian for their clients’ investment assets.
“The team at FourThought Private Wealth understands the benefits of going beyond investment management by building deep relationships with clients and preparing plans built around the needs clients face today and their goals for supporting future generations,” said David Canter, head of the RIA segment for Fidelity Clearing & Custody Solutions. “We’re excited to support the team as they explore what the future holds for them as an independent firm and pursue new avenues of growth.”
Throughout FourThought Private Wealth’s transition, Fusion Financial Partners provided strategic consulting, project management and planning, including counterparty due diligence, vendor selection and negotiation services. Fusion is also working with FourThought Private Wealth on its forward growth strategy and expansion into new business lines.
“We are seeing a trend of advisors from IBDs such as FiNet or LPL seeking greater autonomy, control and growth potential by launching their own RIAs. Going independent will allow FourThought to leverage technology, gain access to financial planning strategies and develop new service lines that were not possible on an IBD platform,” said Mike Papedis, CEO and founder of Fusion Financial Partners. “FourThought Private Wealth’s clients stand to benefit as the firm gains greater flexibility to expand and enhance its service offerings.”
FourThought Private Wealth’s focus is to help their clients reduce stress and make better decisions by helping them work through two critical questions: “are we going to be okay?” and “have we forgotten anything?” The firm offers unique financial planning, comprehensive wealth planning and investment strategies that are aligned with their client’s needs and the way they think.
Prior to launching as an independent RIA, the team operated through Wells Fargo FiNet, the independent contractor division of Wells Fargo.
About FourThought Private Wealth
FourThought Private Wealth, FourThought Signature and FourThought Institutions are subsidiaries of FourThought Financial, formerly known as Pinkerton Private Wealth, a financial planning firm originally founded in 1968 under A.G. Edwards. The company serves approximately 600 households in Florida and throughout the U.S., with assets under management of $800M. For more information, please visit fourthought.com.
Fidelity Investments and Fidelity Clearing & Custody Solutions (together “Fidelity”) is an independent company, unaffiliated with FourThought Private Wealth. Fidelity is a service provider to FourThought Private Wealth. There is no form of legal partnership agency affiliation, or similar relationship between FourThought Private Wealth and Fidelity, nor is such a relationship created or implied by the information herein. 910923.1.0