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keebeck.com

About Keebeck Wealth Management

Keebeck Wealth Management is a registered independent advisory firm for high net worth individuals and families based in Chicago, Illinois.

Keebeck Wealth Management Headquarters Location

150 N. Riverside Plaza 1850

Chicago, Illinois, 60606,

United States

312-825-1200

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Latest Keebeck Wealth Management News

$400 Million-AUM Duo Decamps from Dynasty RIA to Launch Firm with Summit Financial

Sep 30, 2021

$400 Million-AUM Duo Decamps from Dynasty RIA to Launch Firm with Summit Financial $3.1-Mln Merrill Team Shifts to Steward in Wisconsin Merrill Adds Mobile Tools, Annuities and Trust Specialists as Project Thunder Rolls On Betterment Valuation Rises to $1.3 Billion on Funding Round Close $3.1-Mln Merrill Team Shifts to Steward in Wisconsin Wire Wars: Morgan Stanley Lifer with $2-Billion Book Jumps to UBS in CA RBC Plucks $450 Million-AUM Nebraska Team from Wells Fargo Close Fired Merrill Broker Absconded with Client Info in a Duffel Bag: Finra SEC Approves Finra’s Deposit Requirement Rule for High-Risk Firms Finra Suspends Ex-Merrill Rep Who Sought Covid-Relief Loan for Ersatz Business Close Sirianni: Toxic Culture Opinion: Investors Conquered Fees but Not Their Own Behavior Close Fintech Firm Apex Clearing Agrees to Go Public Via SPAC Merrill Systems Hiccuped on Thursday as Stocks Slid ‘The Rock’ Invests in Finance App Acorns, and New Users Get $7 Close Seven Questions with Tony Sirianni: Josh Rogers, Founder and CEO, Arete Wealth Seven Questions with Tony Sirianni: Phil Hildebrandt, Principal, CEO of Segall Bryant & Hamill An AdvisorHub Interview with Christian Hyldahl, President of Varium Investment Partners Timely interview with John Peluso and AdvisorHub CEO Tony Sirianni Coronacrash Update: Hayden Royal’s Louis Dworsky & Tony Sirianni Coronacrash Update: Stratos Wealth Partners’ Jeff Concepcion & Tony Sirianni Close A pair of former brokers-turned-advisors in Columbus, Ohio have broken away for the second time in a year to launch their own practice under Parsippany, N.J.-based RIA Summit Financial. The new practice, dubbed Advocus Private Wealth, is led by Steve C. Vujevich and Matthew P. Anderson, ex-Merrill Lynch brokers who have left Chicago-based firm Keebeck Wealth Management, a $1.6 billion-asset firm aligned with RIA service provider Dynasty Financial Partners. The Advocus team had managed $400 million in client assets, according to Summit Growth Partners, a financing arm of Summit Financial that took a minority stake in the new firm. “We came to realize that our initial move to independence did not provide the excellent level of resources and support that we expected, and our clients deserved,” Vujevich had said in a prepared statement touting the financial planning and technology options Summit offered. A spokeswoman for Dynasty did not respond to a request for comment on the departures or Vujevich’s remarks. Vujevich and Anderson had joined Keebeck in June 2020, the same month Vujevich was permitted to resign from Merrill after concerns related to “engaging in undisclosed outside business activity,” according to registration records. The two had dropped their brokerage licenses upon moving to Keebeck, according to their records. “We intended to leave earlier in the year, but the pandemic changed those plans, requiring us to leave later than intended,” Vujevich said in an email regarding his Merrill exit. He declined to comment on whether the outside business activity allegation related to his intentions to join the Chicago RIA. Vujevich and Anderson are joined at their new Summit practice by fellow Keebeck advisor Charles D. Robinson, who will work out of Advocus’ second office in Charlotte, N.C., but is not a founding partner, according to Summit’s Wednesday announcement. The three had registered with Summit in early June, according to records on the Securities and Exchange Commission’s Investment Adviser Public Disclosure site. Keebeck Wealth Management is led by Bruce Keebeck Lee, a former star private wealth broker at Merrill whose own exit from the wirehouse in 2018 came after allegations about his gaming mandatory compliance training requirements. He was suspended the following year by the Financial Industry Regulatory Authority, which found that two of his associates had taken exams for him. Lee, via the Dynasty spokeswoman, declined a separate request for comment sent to him via social media. The Advocus team had realized after going independent that they needed “a stronger support and service model,” Summit Financial CEO Stan Gregor, who did not respond to a request for comment, said in a prepared statement in the firm’s press release. The duo also said they had been attracted by the opportunity to monetize a portion of their practice by selling a stake to SGP. Summit, along with one its backers Merchant Investment Management, formed SGP in January. (Merchant, a serial RIA investor, took a minority stake in Summit Financial, which oversees a total of $4.1 billion in assets, in August of 2018.) Advocus uses Summit Financial’s SummitVantage, a turnkey asset management program, or Tamp, as well as Addepar Inc., for performance reporting, Salesforce Inc. for client relationship management, and Fidelity’s eMoney Advisor for financial planning, according to Summit’s announcement. The new practice is custodying with Schwab Advisor Services and Pershing, according to its website. Keebeck had recommended the same custodians in its ADV brochure filed with the SEC. Vujevich, with 22 years in financial services, had joined Merrill in 2000 after a three-year stint with Signator Investors, according to his BrokerCheck report. Anderson, who has 11 years of industry experience, joined Merrill in 2012 and had previously logged a one-and-a-half-year stint with UBS Wealth Management from 2003 into 2004, according to his BrokerCheck report. Robinson, a 15-year broker, started with Edward Jones in 2005, moved to Ameriprise Financial Services the following year and to NFP Securities in 2009, according to his BrokerCheck. In 2013, he registered as a broker with LPL Financial and independent advisor with Cornerstone Wealth but dropped his brokerage license in 2017, and moved to Keebeck in August 2020, according to his BrokerCheck report and the SEC’s IAPD database. With the Advocus deal, Summit Growth Partners has taken minority stakes in 17 firms, according to the announcement. Dynasty, which also provides access to financing and said in May it would begin offering non-controlling minority investments in its partner firms, last week onboarded its fourth RIA partner of the year–an $8.8 million-producing Merrill team that broke away in Colorado. Like this article? Let AdvisorHub come to you! Sign up Share This

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  • Where is Keebeck Wealth Management's headquarters?

    Keebeck Wealth Management's headquarters is located at 150 N. Riverside Plaza, Chicago.

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