Summit, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- Journey Strategic Wealth (“Journey”), a registered investment advisor and practice management partner, today announced the addition of Damian Lo Basso as managing partner. In this role, Lo Basso will head finance, operations, and mergers and acquisitions for Journey as the firm continues to expand its industry-disruptive approach to the traditional RIA aggregator model. In addition, Mark Lebida, CFA® will serve as director of investments, Erin Moeller as chief of staff, and Caitlin West, CFP® as director of operations.
Lo Basso is a sought-after industry expert for his work in helping execute more than 50 M&A transactions with firms ranging in size from $50M to $5B in assets under management while advising both buyers and sellers. With a background in investment banking, Lo Basso began his career at Deutsche Bank’s Structured Finance division and eventually served as vice president for Dynasty Financial Partners. In 2017, he left Dynasty and launched Compass CFO Solutions, one of the only fully outsourced accounting, bookkeeping, and strategy firms that services the RIA industry exclusively. At the time of Lo Basso’s departure, Compass was managing the finances for over 75 RIA's. Compass is currently fully owned and managed by co-founder Matt Hayon.
“Damian has forged his own path in this industry, always focusing on how to improve the experience for advisors and their clients,” said Penny Phillips, president and co-founder of Journey. “All of the partners here at Journey have known Damian for quite some time; what we respect so much about him is not just his sheer knowledge and competency in finance, accounting and operations – he’s also one of the most ethical and compassionate people we all know.”
Lo Basso is now one of four managing partners, including longtime advisor executives Michael Brown and Brian Flynn, along with Phillips, who founded practice management firm Thrivos Consulting.
“I really believe that Journey is a first-mover when it comes to the modern advisor,” said Lo Basso. “We’ve built a solution where advisors can focus on listening, responding, and anticipating their clients’ needs, rather than getting bogged down in operations. I’m excited to bring my expertise to this team and our advisors – we’ve got a lot in store for this industry.”
As director of investments, Lebida brings over 16 years of investment management experience to the Journey team, where he oversees the firm’s Investment Committee, asset allocation, and manager selection processes. Prior to joining Journey, he was the Chief Investment Officer of a multi-family office where he headed the firm's Investment Committee, managed multiple Special Purpose Vehicles, and was tasked with providing market commentary and client communications.
As chief of staff, Moeller manages administrative duties and client relations. She is responsible for a wide range of critical functions including managing all administrative workflows, client and firm communications, and vendor relationships. Prior to joining Journey, Erin spent over 11 years at TD Ameritrade where she excelled in a variety of professional executive assistant positions, worked closely with the Board of Directors, and most recently supported the president and CEO.
As director of operations, West will lead Journey's operational infrastructure as well as client service functions. She has a long history of working & leading operations in the RIA space, most recently at KB Financial Companies and Fidelity Investments.
“One of the most exciting things about launching Journey has been building a team of absolutely brilliant individuals,” said Phillips. “Erin, Mark, and Caitlin are critical parts of our advisors’ day-to-day workflows and we could not do this without them.”
Launched in January 2021, Journey is a hybrid RIA model that provides hands-on practice management support and coaching to advisory teams who want to focus on serving their clients, rather than managing the operational complexities of running a business. Unlike the traditional aggregator model – which is aimed at business growth rather than practice management – Journey’s highly skilled team of experts handles everything from billing, human resources and payroll, investment management, financial planning, technology stack, home office support, and marketing.
Journey is headquartered in Summit, N.J., and currently manages $2.7B total client assets. The firm continues to seek advisory teams across the U.S. that align with their clients’ needs and corporate values.
For media inquiries, contact media@journeysw.com. For more information about Journey, visit www.journeysw.com.
About Journey Strategic Wealth:
Journey Strategic Wealth (“Journey”) is a registered investment advisor that works with a broad range of multi-generational clients across the U.S., including corporate executives, high-net-worth individuals, and their families.
As a hands-on strategic partner to financial advisors, Journey doubles down on consistent practice management support – including billing, human resources and payroll, investment management, financial planning, technology stack, home office support, and marketing. This empowers our advisors to focus on what they came here to do in the first place: financially guide their clients through life’s ups and downs.
Journey is headquartered in Summit, N.J. with an office in San Francisco. Journey currently manages $2.7B in client assets.
Advisory services are offered through Journey Strategic Wealth (“Journey”). Securities are offered through Purshe Kaplan Sterling Investments, Inc. (“PKS”). Journey and PKS are not affiliated. Advisory services are only offered to clients or prospective clients where Journey and its representatives are properly licensed or exempt from licensure.
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