Crux Wealth Advisors announced their official launch as a hybrid Registered Investment Adviser and full-service wealth management firm. After two years of due diligence and preparation, this now fully autonomous firm launched with its first tranche of $1 billion in client assets under management (AUM) in a planned multi-phase transition strategy to minimize client and business disruption while also allowing for equally as efficient transitions in the coming months.
Crux parted ways with Raymond James Financial Services (RJFS) on August 2, 2024. Crux founder and CEO Travis Alexander, MBA, CRPC (who established the company in 2016 and had an impressive tenure on the RJFS platform) grew the firm’s AUM from about $70 million in the first year to over $3 billion while on the platform. This propelled Crux into the top ten branch rankings based on trailing twelve revenue across RJFS.
With several locations across the US, Crux is poised to expand and is actively looking for right-fit advisors who want to join forces. And tuck-in and breakaway advisors who may be interested in adopting the Crux mission and folding in are encouraged to request a confidential conversation with Alexander.
Manhattan-based Decerno Advisors served as a strategic advisor for Crux Wealth Management throughout the process. Chicago-based Arete Wealth (member FINRA and SIPC) will be the accommodating broker/dealer and insurance agency for hybrid advisors who join Crux. BNY Pershing (a leading provider of global financial business solutions) will provide Crux Wealth Advisors with clearing and custody services.
KEY QUOTES:
“This is an exciting time – it’s the culmination of focused team effort and professional collaboration with key stakeholders and strategic partners. We’re embarking into what I would call phase two of our business. During phase one, we had to establish proof of concept and scale. Ultimately this allowed us to evolve into phase two where we can truly innovate and optimize the firm without bureaucratic constraints or influences that are out of alignment with our values and vision.”
“We have always taken a contrarian approach to many of the traditional precedents in our industry, and have no intention of changing that now. In fact, we are going to apply that thought process even more surgically moving forward. Growth for the sake of growth is not what we’re solving for. Sure, that can have a positive impact on share price or profitability but, oftentimes, it doesn’t correlate to improving client experience and success. That’s what our growth plan is solving for.”
- Travis Alexander
“Radical transparency and intentional disruption are the reasons for Crux’ move away from the Red Ocean advisor business models. Crux’ new Blue Ocean of market options and opportunities will provide the advantages needed to continually innovate and realize the positive disruption envisioned. It has been a pleasure working with Travis Alexander and his team at Crux Wealth Advisors as they move into phase two of their amazing journey.”
- Kevin Geary, Decerno’s Founding Partner
“The addition of Crux Wealth Advisors to the Arete Wealth network is a significant step forward for both firms. This strategic partnership with Crux demonstrates our commitment to build strong relationships with top performers while upholding the highest standards of excellence in wealth management. I’m thrilled for the opportunities and successes this new chapter will bring our firms.”
- Joshua Rogers, CEO and Founder, Arete Wealth
“We just shared the news last month that Arete Wealth was expanding its agreement with BNY Pershing, so it’s great to see that a firm like Crux Wealth Advisors is joining forces with Arete Wealth to help them realize their goal of becoming an independent registered investment advisor. It’s the ultimate growth story in the RIA space.”
• ⁃ Ben Harrison, Head of Wealth Solutions, BNY Pershing
