Durbin Bennett Peterson Private Wealth Management, an independent and privately owned registered investment advisory (RIA) firm, has added new equity partners, Matthew Jachimiak and Paul Lueb.
Additionally, the company has received an equity investment by Fiduciary Network, an investment firm specializing in providing passive capital.
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The firm has also announced that Harold Peterson will retire from his post to pursue individual interests. The company has named Matthew Jachimiak as the chief investment officer, while Margaret Casey as chief operations officer.
"We are excited to have admitted two additional partners and to have completed our alignment with Fiduciary Network, a key strategic partner who will enhance the future growth of the firm," said original founding Partner, Brent Durbin.
"Durbin Bennett will continue to provide the high level of wealth management services and cutting edge expertise it is known for," he added.
Founded in 2006 by Mark Hurley and backed by Emigrant Bank in New York and Virgo Investments, Fiduciary Network, has now completed 15 minority equity investments in fee-only RIA firms.
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By GlobalDataHurley commented, "The transaction with Durbin Bennett was structured to allow the founders to make other equity partners and strategic acquisitions in order to grow the business, while maintaining independent control of the firm.
"It also provides an affiliation and collaboration of nationally prominent independent fee-only RIA firms across the country."
Brent Durbin and Richard Bennett combined their existing wealth management practice unit with Harold Peterson to create Durbin Bennett Peterson | Private Wealth Management in 2001.
