* Former Calibre strategist moves to independent Lexington
* New role is tax investment strategist
By Helen Kearney
NEW YORK, April 20 (BestGrowthStock) – Lexington Wealth Management
has hired an investment strategist from Calibre Advisory
Services, a division of Wells Fargo Advisors.
Glenn Frank will be the director of investment tax strategy
at the independent wealth management firm based in Lexington,
Massachusetts.
Frank was previously a partner of Tanager Financial
Services, which was bought by Wachovia Corporation in 2004.
Wachovia was subsequently bought by Wells Fargo & Co (WFC.N: ) in
2008. He was most recently a senior investment strategist at
Calibre advising high-net-worth families.
“For most of my career I was in a fee-only independent
practice,” said Frank. “I longed to be a bigger part of a firm
again.”
Frank said he was also attracted by Lexington’s affiliation
with Fortigent LLC, which provides an investment platform and
back office support to independent firms.
“When you move to a boutique you’re always concerned about
losing the big firm resources,” said Frank. “Now I have the
best of both worlds — major resources on the investment side
while maintaining independence.”
Kristine Porcaro, a co-founder of Lexington, said the firm
felt it was important to bring in a tax specialist at a time
when income and estate tax laws were in flux.
“The tax side of investing is often overlooked by the
industry. People are rarely judged by their after-tax
performance because it’s too hard to calculate,” added Frank.
Lexington currently has seven advisors and oversees around
$280 million in client assets.
Stock Market Today
(Reporting by Helen Kearney)
Wells Fargo strategist jumps to Lexington
