New RIA Succession Planning Platform Targets DFA Fans

A new platform to support registered investment advisors' growth and succession planning, Parkwoods Wealth Partners LLC, announced its launch Monday, along with the integration of its first partner, FMF&E Wealth Management, an RIA based in Syracuse, New York, with about $358 million in regulatory assets under management.

Parkwoods, founded by three industry veterans, plans to expand nationally while focusing on firms that predominantly use Dimensional Fund Advisors' investment solutions.

Al Sears, who was a vice president at DFA, and Ed Edwin, who served most recently as DFA regional director, client communications, until March 2023, per their LinkedIn profiles, have partnered with Chris Gardner, former FMF&E president, to create a platform tailored for advisors aligned with DFA's investment philosophy, the firm said.

Parkwoods seeks to become the home for such RIAs. Sears serves as chief executive, Edwin as chief operating officer and Gardner as advisory services head.

"We've created Parkwoods to address the diverse succession needs in the RIA industry," Sears said.

"Many independent advisors today face a difficult choice: sell their practice and lose control, or maintain independence at the cost of developing sustainable second-generation talent and diversifying what's often their largest personal asset," he added.

"Our model allows advisors to maintain their well-earned professional autonomy while accessing the benefits and security of a larger organization. It's about empowering advisors to focus on what they do best while providing a clear path for long-term continuity and eventual succession," Sears said.

The firm said it centralizes operational tasks such as compliance, trading, human resources and custodian-related activities, allowing advisors to dedicate more time to client relationships and strategic growth.

"Joining Parkwoods wasn't about cashing out or giving up control. It was about serving our clients better and ensuring the long-term continuity of our practice. It's a natural evolution that aligns perfectly with our philosophy and approach," said Gardner, who was president of FMF&E until this month.

Parkwoods is actively seeking partnerships with established RIAs that share its commitment to evidence-based investing and client-centric service.

Photo: Adobe Stock