Adhesion Wealth Advisor Solutions announced today that they have been selected to partner with GCC Family Wealth Management, a wholly owned subsidiary of GCC, to help facilitate in their nationwide expansion.
GCC Family Wealth Management intends to establish a national presence beginning in the following locations; Washington, DC, Nashville, TN, Los Angeles and San Diego, CA and Houston, TX.
"While other firms are downsizing because of proprietary trading gone bad and soaring overhead costs, we are in growth mode," said Scott M. Freund, President of GCC Family Wealth Management. Freund went on to say, "Adhesion's WealthADV platform compliments our firm's plans for expansion because it provides a complete, outsourced operating platform that would scale with our growth, offer full breadth of reporting and investment management capabilities and provide our firm with innovative, differentiating investment products that will help in recruiting advisors and compete successfully for clients."
Rich Conley, Head of Sales for Adhesion commented, "GCC Family Wealth Management has rapidly positioned itself to take advantage of the deteriorating wire-house broker channel as high-net worth families continue to shift to the more popular independent, fee-only advisory firms who operate without conflict. WealthADV positions GCC with a managed account and client reporting platform whose capabilities exceed those available from that wire-house channel, further eliminating hurdles for advisors to make the break to independence."
Freund added, "Partnering with Adhesion improves GCC Family Wealth Management's ability to compete on a national level with managed money and trading services. As a result, it will allow our advisors to focus on serving their clients, while Adhesion handles the implementation of our investment strategies, shielding us from the idiosyncrasies of trading across multiple custodians. GCC Family Wealth Management is a pure, open architecture, fiduciary advisory firm. We believe a managed account platform that is truly independent of broker-dealer custodians, in addition to providing access to a wide array of leading third party mannagers, will be very important to our target market."