Asset Management
US Financial Services Platform Announces Two Business Wins

US Fiduciary, a Texas-based financial services firm that focuses on serving high-end investment advisors and their high net worth and institutional clients, has announced two business wins for its platform. US financial advisors Mark Tidwell and Charlie Rawl have joined the USF platform under the name Zenith Wealth Management, adding $2 million to its Houston office. They were previously at Stanford Financial. Zenith president Charlie Rawl said: "Instead of contracting with multiple service and software providers independently, we were able to gain access to our chosen providers a la carte from US Fiduciary's menu. Zenith Wealth Management was able to get up and running much faster than if we had continued to do it entirely on our own." PenCal, the US executive and employee benefit planner, has also switched its reps to USF's broker-dealer. PenCal has been the largest producing team at ING's Multi-Financial for the past 10 years, and brings 10 reps and a team of resources to USF, as well as adding about $3 million per year to USF's revenues. Kirk Penland, PenCal's president and chief executive, said: "USF's entrepreneurial approach and vision for building businesses is a great fit for Pen-Cal's reps and service offering. USF brings a level of personalization, flexibility and can-do attitude to building businesses that is simply not present in the big firms." Bob Drake, USF president & chief operating officer, said both business wins were important additions to USF. Zenith's decision to partner was significant because it further verified USF's role in unlocking the real value of an FA's business and emphasised the continued trend of high-end FAs to embrace open architecture and fiduciary responsibility. The PenCal relationship was also important, not least because of the expanded offering that USF could make available to its existing FAs "to offer the highly specialised services of one of the leading providers of executive and employee benefit planning in the country".