Registered investment advisor Spire Investment Partners, headquartered in McLean, Va., announced Thursday that it has expanded to the West Coast with the addition of the Chamberlain Group of Irvine, Calif.
Founded in 1997 and privately owned, Spire Investment Partners, which was recently named to the Inc. 5000 fastest growing firms in the U.S., has 41 affiliates in 20 offices around the United States and manages $1.7 billion in assets for high-net-worth individuals, while the Chamberlain Group is an independent financial services firm with clients in Southern California and $200 million in assets under management.
The Chamberlain Group's advisory business will clear and be custodied primarily at BNY Mellon's Pershing Advisor Solutions, and the group's broker-dealer business will be conducted through Spire Securities and Dealer Brokers Services, also A BNY Mellon company. Spire maintains clearing and custody relationships with Fidelity Institutional Wealth Services, Pershing and Schwab Institutional, as well as Fidelity's National Financial Services and Pershing's Dealer Broker Services. Spire has also recently engaged Envestnet as a technology partner.
"Our decision to affiliate with Spire came down to several issues," said Chamberlain Group founder and CEO Michael Kiley (left) in a statement. "First, we run a very sophisticated practice and we chose to partner with a firm that understands the needs of such a practice and its very high net worth clients. Secondly, we chose a firm that understands and uses technology as a lever for growth. Finally, we chose a firm that understands that compliance is an integral and absolutely necessary part of our business, but also understands that we, as partners, are running businesses."
