WILMINGTON, DE / AGILITYPR.NEWS / June 01, 2022 / Hybrid IBD and RIA platform also announces new CFO and charitable initiative to provide humanitarian support to Ukraine
CoastalOne, an independent broker-dealer (Coastal Equities) and Registered Investment Advisor (Coastal Investment Advisors) platform based in Wilmington, Delaware, recently shared specifics on their new growth in 2022, including new financial professionals under the CoastalOne umbrella, a new CFO, and details on their first annual Platinum Advisory Council, held in March in Playa del Carmen, Mexico.
In 2022, CoastalOne has already added twelve new financial professionals to their independent financial services platform. CoastalOne welcomes existing business structures, including family offices and advisory groups – not just individual professionals. Part of this new group of professionals includes seasoned and accomplished financial advisory teams with varied business models, including holistic financial planning, family office, tax minimization, alternative investments, investment banking, and exit planning.
“CoastalOne’s value proposition is to support and assist financial professionals in growing their business within their current business model or practice mix,” said Louis Hanna, Vice President of Business Development and head of recruiting. “We welcome existing business structures and help them transition quite easily.”
As a middle office concierge, operational, technology, and compliance platform, CoastalOne’s role is to offer strategies, solutions, and products to help financial professionals best serve their clients in a uniquely collaborative, creative, and flexible approach.
In addition, Coastal Equities, Inc., a FINRA registered independent broker-dealer under the CoastalOne umbrella, recently announced the rapid growth they saw in 2021: 122 producing registered representatives (up from 100 producing reps in 2020), and over 31% increase in AUM and over 91% increase in gross revenue from 2020 to 2021.
NEW CHIEF FINANCIAL OFFICER AND OTHER OFFICERS
To help aid in their growth, CoastalOne recently announced that Michael O'Connor, CPA has joined the firm as Chief Financial Officer. O’Connor spent the previous three years of his career at Cadaret Grant & Co., Inc. (a subsidiary of Atria Wealth Solutions), most recently in the role of Vice President and Controller. Prior to that, O’Connor worked at multiple accounting firms, including Fust Charles Chambers LLP, Freed Maxick CPAs, and Dannible and McKee LLP.
“I am very excited to join the CoastalOne team and looking forward to this next journey,” said O’Connor. “I plan to bring my expertise and experience to CoastalOne and help them continue their growth trajectory.”
The CoastalOne team has expanded substantially in recent years as the firm continues to experience rapid growth and has recently filled significant roles, including Chief Revenue Officer, Chief Compliance Officer, and Chief Marketing Officer.
COASTALONE PLATINUM ADVISORY COUNCIL
During the last week of March 2022, a select group of top producing CoastalOne financial professionals gathered in Playa del Carmen, Mexico to share their methodologies, feedback, and ideas as part of the first annual CoastalOne Platinum Advisory Council. During one of the breakout sessions, a roundtable discussion was held where advisors were asked to give their candid feedback without the CoastalOne leadership team present. Questions and topics included:
To the delight of the leadership team, the sentiment and results were positive, and the roundtable gave the CoastalOne team plenty of great feedback, including opportunities, highlights, strengths, and areas of improvement. The council members were truly engaged and thrilled to have a forum to share unfiltered input. In addition, the advisors were able to share best practices and methodologies with each other to help improve and enhance their businesses.
“The Advisory Council was a new initiative for CoastalOne, and it exceeded all of our expectations,” said Charles Reiling, President and CEO of CoastalOne. “The feedback and takeaways were invaluable, and we plan on incorporating them into our business structure. We also learned that the advisors were grateful to be offered this kind of forum to freely express their opinions.”
Overall, both the roundtable and the council were highly regarded and will be continued as an annual event. More information on the future of the CoastalOne Platinum Advisory Council will follow in the coming months.
NEW CHARITABLE INITIATIVE TO SUPPORT UKRAINE
CoastalOne also announced a new charitable initiative to support Ukraine called “Jonathan’s Ribbon Appeal: Funding Aid for Ukraine”. Jonathan Brindle-Wright, a six-year-old boy from Ashton-on-Ribble in the UK (who is also the cousin of Reiling’s wife), started a crusade of making and selling blue and yellow ribbons with his mom to raise money to help people in Ukraine. The effort has spiraled from local efforts in the UK to global support. Jonathan and his mom have partnered with East Lancs 4 Ukraine, an organization that directly buys and delivers supplies to Ukraine (including food, toiletries, first aid kits, clothing, etc.) from donations they receive.
“We believe Jonathan is helping us join people from around the world who want to be part of the greater good, and we’re so excited to support his amazing initiative and this important cause,” said Reiling. “The calls, texts, posts, and genuine interest we’ve received in wanting to know how to contribute have been overwhelming, and Jonathan’s mom, Adele, was thrilled by the support. Thank you so much to everyone who has already donated and thank you in advance to everyone who will.”
In addition to Reiling’s personal contributions, CoastalOne decided to stand behind the effort by purchasing 500 ribbons to distribute to those in the U.S. who want to donate and get involved. For every donation to Jonathan’s Ribbon Appeal: Funding Aid for Ukraine, CoastalOne has sent 10 ribbons to the donor/organization.
For those interested in learning more and donating, please click here.
CoastalOne, located in Wilmington, Delaware, is an independent broker-dealer and RIA platform that enables financial professionals to maximize the success of their practices. CoastalOne is comprised of Coastal Equities, Inc. (CEI), a FINRA registered independent broker-dealer, and Coastal Investment Advisors, Inc. (CIA), an SEC Registered Investment Advisor. CoastalOne is focused on providing professionals with dedicated support, integrated technology, and a deep understanding of regulatory framework so they can deliver outstanding service and personalized guidance to their clients. Their goal is to become the firm of choice for independent financial professionals and their clients, and their mission is to build life-long client relationships from a foundation of personal service, trust, and collaboration. Learn more at www.Coastal-One.com.