Two experienced advisor teams have launched independent wealth management practices within the past week, collectively overseeing more than $1 billion in client assets – and their departures from two very different types of firms illustrate just how broad the independence movement has become.
Perennial Wealth Partners, an eight-person team that most recently operated within Hightower Advisors, has launched its full-service practice under Integrated Partners, a national registered investment advisor and financial planning firm.
Separately, Nick Economos, CFP, CPFA, CEPA, CRPC, has launched Economos Private Wealth through LPL Financial's supported independence model, LPL Independent Advisor Network, bringing approximately $580 million in advisory and brokerage assets from Merrill Lynch.
Perennial Wealth Partners' departure from Hightower is notable in its own right. As InvestmentNews has reported, Hightower has been evolving its model in 2026, pushing its Signature Wealth division toward a direct-employee W-2 structure that trades some autonomy for greater integration.
Perennial's six financial advisors and two operational partners – Ben Audley, Sam Awad, Greg Bogdan, Kurt Helmich, Michael Im, Mary Beth McLean, Brady Peat and Carrie Shoener – formed the practice to exercise fuller control over how they operate and serve clients.
The team selected Integrated Partners for its customizable open-architecture platform, back-office infrastructure and CPA partner program. Integrated Partners, founded in 1996, supports more than 220 advisors across 116 regional offices nationwide and will serve as Perennial's registered investment advisor.
The practice manages more than $500 million in client assets and serves high-net-worth individuals and families, including women seeking an active role in their financial lives, business owners, executives, professionals and retirees.
"Perennial's team brings decades of shared experience, longstanding client relationships and a deep commitment to service," said Im, the firm's chief operating officer and a founding partner. "Our relationship as a team is an incredible asset for our clients and we're thrilled to be moving forward to find new ways to deliver incredible service to them."
The firm's name signals its intentions. "We chose the name Perennial to reflect our commitment to being a consistent, trusted presence for our clients – not just for a season or market cycle, but for the long term," said Bogdan, CFP, principal advisor, partner and chairman.
On the West Coast, Economos Private Wealth launched from Danville, Calif., outside San Francisco. Nick Economos brings more than 25 years of industry experience serving corporate executives, business owners and multigenerational families.
His father founded The Economos Group at Merrill Lynch in 1994; Nick joined in 2000 and spent the following quarter century building within that structure before deciding the wirehouse model no longer fit his vision.
The practice is supported by team members Heather Stickney and Tyler Economos and frames its role as serving as the "CFO for successful families" – coordinating investment planning, financial strategy and long-term decision-making across complex family situations.
"Every major decision we make starts with one question: what is best for our clients," Economos said. "Moving to independence gives us the flexibility to tailor our approach around each family's unique needs and goals. What attracted us to LPL was the ability to combine that independence with the scale, resources and support of a leading wealth management firm."
Marc Cohen, LPL's chief growth officer, said the practice's planning philosophy was a natural fit. "His 'CFO for successful families' approach reflects the kind of differentiated advice investors value today," Cohen said.
The two launches together capture a shift that has widened considerably in 2026. The independence movement is no longer simply a wirehouse phenomenon.
As a Dynasty Financial Partners executive noted in July 2026, the next wave of advisor departures is coming not from wirehouses but from RIA consolidators themselves – firms whose advisors joined during the aggregation boom and are now seeking a level of independence that a platform model cannot fully deliver.
That dynamic is visible in Perennial's move. Hightower, which built its early reputation as a landing place for wirehouse breakaways, is now itself a point of departure for teams seeking something closer to true ownership and autonomy.
Advisor moves across the independent and hybrid wealth channels have continued at a strong pace throughout 2026, with platforms including LPL, Integrated Partners, Raymond James and others among the primary beneficiaries.
For Perennial and Economos Private Wealth, those interests converged on the same answer, from two very different starting points.
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