| NEW YORK, April 22
NEW YORK, April 22 Cantor Fitzgerald Wealth
Partners, launched in November 2013 by institutional trading
firm Cantor Fitzgerald, has hired Lowell "Bob" Serhus
as chief investment officer to guide the firm's financial
advisers on portfolio and risk management, with a focus on
Serhus ran his own capital management firm in Freehold, New
Jersey, for the past two years before joining New York-based
Cantor Fitzgerald Wealth this month. He was previously research
director at Attalus Capital, a hedge fund near Philadelphia, and
from 2001 to 2005 was chief investment officer and head of
portfolio management at Julius Baer Investment Management,
according to his LinkedIn profile and regulatory records.
Cantor Wealth Partners has recruited four advisory
businesses or teams of advisers with $3.4 billion of assets
under management to date. They include a group that had been
with registered investment advisory firm Mariner Wealth
Advisors, the former RIA unit of First Commonwealth Bank in
Pittsburgh and a New York-based adviser who had been with
Though Cantor Wealth has a staff of only about 24 people to
help its advisers, the first two teams who joined since last
fall moved all client assets from their former firms in a little
over a month and increased assets from those clients by 15
percent since they joined, Stan Gregor, president and chief
executive officer, said in an interview on Tuesday.
Most of the new assets were invested in alternative
investment funds and separately managed accounts available
through Cantor, he said.
In addition to hiring Serhus, Cantor Wealth Partners has a
consulting agreement with Wilshire Funds Management to advise
its investment management committee on building customized
portfolios and picking outside managers.
Gregor, who hopes to grow to 250 to 350 advisers within a
few years, said he has more than $1 billion of capital to use
for acquisitions and hires. The firm last week sent six letters
of intent to advisers at independent investment advisory firms
and a full-service large brokerage firms, he said.
Advisers can join as partners who receive equity in Cantor
Wealth or draw down traditional compensation based on the
revenue they produce, Gregor said.
(Reporting by Jed Horowitz; Editing by Tom Brown)