Stanford Financial alums sign up with new wealth firm

Ten former Stanford Financial Group advisers have formed Solamere Advisors, a new wealth management firm in Charlotte, N.C.

Ten former Stanford Financial Group advisers have formed Solamere Advisors, a new wealth management firm in Charlotte, N.C.
Stephen Wilson and Timothy Bambauer will serve as managing partners of the firm.
None of the former Stanford advisers now with Solamere worked with the troubled firm for more than 15 months.
Last month R. Allen Stanford, chairman of the firm, was charged in U. S. District Court in Houston with orchestrating a $7 billion Ponzi scheme that defrauded approximately 30,000 investors.
The new firm is being backed by three investors from Solamere Capital LLC of Lexington, Mass.: Tagg Romney, Eric Scheuermann and Spencer Zwick, all co-founders and managing partners.
“We are excited to be associated with such a highly capable group of financial advisers with a proven track record of meeting the needs of their clients throughout the Southeast,” Mr. Romney said in a statement.
Capital Guardian LLC of Belmont, N.C., will serve as introducing broker-dealer for client transactions, and Pershing LLC of Jersey City, N.J., a subsidiary of The Bank of New York Mellon Corp., will act as clearing broker-dealer and custodian of client assets.