Ellsworth Advisors Announces Four Senior Appointments And New Technology Investments
Ellsworth Advisors, a Kaulig Company, announced today the appointment of Timothy Clepper as the firm's Managing Partner. Mr. Clepper possesses more than 20-years of financial services experience. Mr. Clepper joins Managing Director, Kelly Kuennen, as the senior leaders responsible for the firm's guidance and developing its investment strategies. Mr. Clepper began his career in wealth management at McDonald & Company Securities and has held senior wealth management positions with Robert W. Baird and Morgan Stanley Smith Barney.
Ellsworth Advisors is an independent, fee based registered investment advisor that provides comprehensive financial planning, asset management, asset allocation, tax, accounting, retirement planning and estate planning services to high net worth and ultra-high net worth families and businesses. Ellsworth's professionals possess decades of financial markets, wealth management, investment management, private equity, real estate, tax and investment banking experience. The firm's advisors carry significant designations and degrees that include but are not limited to the Certified Financial PlannerTM, Certified Plan Fiduciary Advisor, Chartered Retirement Planning Counselor and Certified Public Accountant. The firm's roots date back to the early 1990's.
In addition to the appointment of Mr. Clepper, Ellsworth Advisors also announced today the addition of Cameron Miele as a Managing Director. Mr. Miele, a graduate of the University of Virginia, possesses more than 20-years of investment banking and private equity experience. Mr. Miele brings a unique skillset to Ellsworth Advisors, as his significant mergers and acquisitions experience will allow him to offer Ellsworth Advisors' business owner clients with advice on value creation, generational transition planning, exit planning, business valuations and to facilitate merger, acquisition and capital raising processes as an independent advisor. Mr. Miele will also focus on client development as well as the origination, processing and oversight of private equity and private real estate investments on behalf of Ellsworth Advisors. By combining traditional wealth management with private investment capabilities, Ellsworth Advisors will be able to provide its clients, if suitable, with access to private equity and private real estate investments, in addition to its strategies for managing traditional public equity and fixed income investments. These private investments, as part of a well-diversified portfolio, can offer broader diversification as well as returns non-correlated to the public markets. Each one of these investments will be offered on a deal-by-deal basis and no investor dollars will ever be invested in private partnerships without a client's explicit approval and proper qualification.
The firm also announced the appointment of Paul Martin as Chief Financial Officer. Mr. Martin is a former Principal at a 75-year old northeast Ohio based accounting firm. He is a Certified Public Accountant with a primary focus on tax planning. While at his prior firm, Mr. Martin worked with large, private companies and ultra-high-net-worth individuals and consulted on strategic planning, complex tax issues, mergers and acquisitions and wealth management planning. He has over 10 years of experience working closely with business owners not only on business matters, but also advising his clients on succession planning and wealth management after significant liquidity events.
Ellsworth Advisors further announced the appointment of Michelle Schwab as Chief Compliance Officer. Ms. Schwab has spent her entire 17-year career as a securities compliance professional. She has served on the Board of the Southern California Compliance Group, an association of compliance professionals which provides a forum for the development and sharing of compliance best practices. Before that she was appointed to the inaugural compliance advisory board of a national multi-billion dollar independent broker-dealer and registered investment adviser. She is currently a member of the National Society of Compliance Professionals. Most recently, Ms. Schwab served as an Associate Compliance Director for Western International Securities, a full-service wealth management firm headquartered in Pasadena, California.
Lastly, Ellsworth Advisors announced a number of capital investments to upgrade the firm's technology platforms. It is anticipated that these investments will allow for an improved client experience through access to broader investment options, enhanced client interface portal, additional research capabilities and a more user-friendly technology platform.
Commenting on the announcements, Tim Clepper stated, "As President of Kaulig Companies, I am thrilled to be named Managing Partner of Ellsworth Advisors. The United States is on the cusp of a multi-trillion dollar transfer of wealth from Baby Boomers to their children and grandchildren. This transfer of wealth also applies to entrepreneurs selling their businesses. Ellsworth Advisors is well-positioned and maintains the experienced professionals, conservative investing approach and values to support these individuals and help them achieve their long-term financial goals."
Kelly Kuennen added, "Our plan is to build Ellsworth Advisors into a national platform with representation across the country. We plan to do this organically, through the acquisition of existing registered investment advisors and in partnership with investment advisor representatives who share our culture and values. This is an exciting time at Ellsworth Advisors. We have a great team and culture and I couldn't be prouder of what we're building."