Registered investment advisors Noah Doyle and Charles Princiotto have moved their affiliation from KKR-owned broker/dealer Janney Montgomery Scott to Wells Fargo Advisors Financial Network, or FiNet, along with their $380 million in client assets.
Their new firm, SoundRidge Private Wealth, will be based in New York City, the same as their former RIA. The duo will also continue to focus on high-net-worth individuals, entrepreneurs, and professionals in entertainment and sports.
Doyle, CEO and co-founder, and Princiotto, president and co-founder, had been with Janney for over eight years. Before that affiliation, they had been advisors at Bank of America’s Merrill for about five years and first met when working at Morgan Stanley.
“Affiliating with FiNet gives us access to top-tier resources while preserving the flexibility and service our clients value most and have come to know and expect from us over the years,” Doyle said in a statement.
SoundRidge integrates tax strategies, estate planning and investment advice. According to its website, the firm is also looking to hire more advisors as 1099 affiliates.
Wells Fargo’s independent contractor business model has existed for about 20 years.
This February, a Westlake Village, Calif.-based team left FiNet with about $1.15 billion in client assets to join LPL Financial. In September 2024, FiNet gained a three-person, $1.8 billion team based in Chicago from wirehouse Morgan Stanley.
Janney promoted Tony Miller, its former and current president, to the CEO role earlier this year. He took the role shortly after the deal closed for Janney to be sold to private equity firm KKR after over four decades of Penn Mutual Life Insurance Company ownership. Janney is now operating as a standalone broker/dealer.