Tyler James, president and founder of James Financial Partners announced the firm’s June 1 acquisition of financial adviser Joe Tonyan’s business. James Financial Partners essentially becoming the succession plan for whenever Tonyan decides to retire. Tonyan will come on board with James Financial Partners for at least the next two years, bringing his vast portfolio and experience.
The acquisition changed James Financial Partners’ status and allows the firm to be recognized by the SEC as a large firm, which requires having $100M or more in assets under management.
James was initially Tonyan’s continuity partner, meaning if something happened to Tonyan, his clients would be taken care of by James Financial Partners. Then recently, Tonyan picked the time frame for his retirement and the continuity plan became a succession plan.
“He and I are working side by side with his clients and building those relationships,” said James. “He’s passing off those relationships to me so that when he does retire, the clients have already gotten to know me and know that James Financial Partners will be taking care of them into the future.”
Missouri State alum Tyler James has been in practice now for 20 years and founded James Financial Partners in 2007. James runs the firm with his wife, Stacey James who is vice president and director of operations. With the acquisition, James Financial Partners grows to a team of eight employees, with four financial advisers, including Tyler James and Joe Tonyan, and four support staff, including Tonyan’s administrative assistant who is also making the move to James Financial Partners.
Joe Tonyan has been in the financial services business for 47 years. Acquiring his business and client list doubled James Financial Partners’ business overnight.
James Financial Partners is a comprehensive financial planning firm specializing in financial planning for individuals and families. “I would say that we’re fairly broad in that sense,” said James. Tyler James also emphasized that James Financial Partners is an independent financial planning firm. “In the independent space we still have all the same resources and due diligence of a corporate backed firm. What we don’t have is someone sitting in an office in New York City attempting to push a corporate agenda onto our clients. This gives us the freedom to represent our clients rather than representing a large corporation.” James Financial Partners also represents clients in the capacity of a fiduciary which means they are compelled by law to only make recommendations that are in clients’ best interests, a level of scrutiny that not all financial advisers are held to.
James Financial Partners has a branch in Springfield and another in Branson.
Securities and investment advisory services offered through Woodbury Financial Services, Inc. (WFS). Member FINRA/SIPC. WFS is separately owned and other entities and/or marketing names, products or services referenced here are independent of WFS. James Financial Partners and WFS are unaffiliated.
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