Pittsburgh, PA – Fragasso Financial Advisors announces the launch of its associated advisor business model with Robert Yelenovsky of The Investment Advisory Group, LLC. The agreement is effective as of October 2019.
Fragasso’s new associated advisor business model has been created to capitalize on a market of sole practitioners or groups of advisors who need additional resources in order to grow their practices. The appeal to these advisors is the scale and support offered by Fragasso. The associated model advisor(s) join Fragasso’s RIA and/or broker-dealer and can leverage access to key business resources and gain the flexibility to serve their clients.
“It’s more of a plug and play situation.” explains Daniel Dingus, president and executive director of portfolio management at Fragasso Financial Advisors. “These advisors are still managing their practice and serving their clients. We are providing institutional-quality investment management accompanied with sophisticated technology platforms, a codified client experience, compliance oversight, marketing and administrative support. With the current state of the industry, these resources are paramount to a sole practitioner or multi-partner advisor group looking to accelerate their growth.”
Robert Yelenovsky, who has over fifteen years of experience in the wealth management and insurance industry, was most recently Fragasso Financial Advisors’ senior vice president of retirement plans and institutional advisors, a role Yelenovsky held for five years. “As part of Fragasso’s management team, I was aware of the firm’s inorganic growth plan. I identified an opportunity where I could aid in these objectives. I am at a point in my career where I want to return to serving individuals and small business owners as an independent advisor, but I need the support and resources that Fragasso can provide to myself and to my clients. The benefit is two-fold: The Investment Advisory Group will serve a segment of clients from Fragasso Financial Advisors, and Fragasso is building the framework for their associated advisor growth model in real time with a former colleague.” explains Yelenovsky.
In recent years, Fragasso’s inorganic growth has been primarily accomplished through acquisitions. In 2015, they acquired a practice formerly based in Zelienople, The Grandview Group, and in late 2018 announced the acquisition of a practice in Beaver from former AXA Advisor and sole practitioner, Paul Mehno.
“The acquisition candidate is ideally planning to retire in the next ten years and is in need of a business succession plan.” commented chairman and CEO, Robert Fragasso. “In an acquisition scenario, we must strike the right balance of portfolio management philosophy and, in cases where an advisor wants to join Fragasso as an employee and continue to work until retirement, a cultural fit is necessary.”
Robert Fragasso continues, “We feel the implementation of an associated advisor model significantly expands the range of opportunities. Our plan is to focus within a 100-mile radius of Pittsburgh, where the Fragasso brand is most recognized, but we’d consider associating with firms in all of Pennsylvania, Ohio, Maryland and West Virginia.”
About Fragasso Financial Advisors
Fragasso Financial Advisors is an independent, employee-owned, primarily fee-based investment management and financial planning firm headquartered in Pittsburgh, PA with four additional suburban offices in Western Pennsylvania. Founded in 1972, the firm today has $1.4 billion combined assets under management and non-advisory assets. Fragasso has consistently been recognized by Barron’s since 2007. Most recently in 2018, he was ranked #2 in Western Pennsylvania on both the Barron’s Top 100 Financial Advisors and Barron’s Top 100 Independent Advisors lists.1
Investment advice offered through Fragasso Financial Advisors, a registered investment advisor. Fragasso Financial Advisors, 610 Smithfield Street, Suite 400, Pittsburgh, PA 15222.
Visit www.fragassoadvisors.com for more information.
Barron’s listings are based on data compiled by many of the nation’s most productive advisors, which is then submitted and judged by Barron’s. Key factors and criteria for each award include assets under management, revenue produced for the firm, regulatory and compliance record and years of professional experience.
Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results from investment advisory services, nor should it be construed as a current or past endorsement of any of the firm’s clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser. Rankings are generally limited to participating advisers. Fragasso Financial Advisors never pays a fee to be considered for any ranking or recognition but may purchase plaques or reprints to publicize rankings. For information on individual rankings, including methodology, please click the link for the respective award at fragassoadvisors.com
Media Contact
Company Name: Fragasso Financial Advisors
Contact Person: Marsha Posset
Email: Send Email
Phone: 412-227-3206
Address:610 Smithfield St., Suite 400
City: Pittsburgh
State: PA
Country: United States
Website: http://fragassoadvisors.com/
