Parent company Stratos Wealth Partners is going through some major transitions in the form of increased AUM, the addition of three former Morgan Stanley Smith Barney advisors and two new Utah offices.

Steve Beierlein of Stratos Wealth Partners joins as branch manager of the Ogden, Utah office alongside wealth advisor Craig P. Adams. S. Craig Adams, head of Adams Wealth Advisors, joins the second branch in Logan, Utah as managing director, rounding out the trio of new additions. Combined, the joined firm's two branches will have $350 million in AUM.

Adams Wealth Advisors is a privately-owned wealth management firm with a team that has more than 35 years of experience. “An independent client-centered business model allows us to act as our client’s advocate first and foremost,” S. Craig Adams said.

Parent company Stratos Wealth Partners is a national network affiliated with LPL Financial, the nation’s largest independent broker-dealer. As one of the newest RIA hybrids, the firm is benefiting from the recent trend of advisors and so-called breakaway brokers moving to smaller, independent firms.

Bill Morrissey, executive vice president of business development at LPL Financial, said the trend reflects the flexibility and choice given to independent advisors that want to affiliate directly or indirectly with LPL Financial.

“Being backed by the nation’s leading independent broker-dealer in LPL Financial allows us to focus on our number one priority, the concern of our clients, without bias or conflict,” Beierlein said.

Kylie Hennagin writes for Financial Planning.

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