Core Insights - Farmers is expanding its wealth management business by adding a registered investment advisor (RIA) channel to allow its insurance and financial service agents to operate as fee-based RIAs [1][2] Group 1: RIA Channel Development - The new RIA, Farmers Asset Management, will utilize Charles Schwab for custody and clearing services and Orion for wealth technology and planning support [2] - The RIA channel aims to meet the demand from Farmers' growing network of independent specialists in life and financial services, which has increased from approximately 40 in 2024 to 125 across the U.S. [3] - Farmers will also target over 2,500 advisors affiliated with its existing broker/dealer channel, which currently manages about $10 billion in client assets [4] Group 2: Market Positioning and Competition - The RIA channel will provide a referral option for advisors seeking independence while looking for organic growth opportunities [5] - Farmers will face competition in the RIA space from various insurers, private-equity backed aggregators, and independent broker/dealers, as well as numerous platforms available for solo advisors [5] - To enhance its competitive edge, Farmers plans to hire a full-time recruiter to attract advisors from both within and outside its network [6]

Core Viewpoint - Storen Financial has launched a new registered investment advisor (RIA) named Storen Legacy Partners, set to begin operations on January 1, 2026, with support from Dynasty Financial Partners [1][2]. Group 1: Company Background - Storen Financial, based in Zionsville, Indiana, manages $500 million in assets and was founded in 1966 as a tax preparation firm by Pat Storen [1][5]. - The firm currently prepares over 5,000 tax returns and serves clients across 43 states [5]. - The leadership team includes Greg and Kim Storen, who took over the business in 2009 after Pat Storen's retirement [5]. Group 2: New RIA Details - The new RIA, Storen Legacy Partners, will utilize Dynasty for operational and back-office support, as well as investment management capabilities [4]. - Charles Schwab has been selected for custody services, allowing access to a suite of institutional-quality services [4]. - Greg Storen expressed excitement about implementing new technologies and investment models to enhance client communication [3]. Group 3: Previous Affiliations - Prior to launching the new RIA, Storen Financial was affiliated with LPL Financial and Brass Tax Wealth Management, which was recently acquired by Waverly Advisors [2]. - It remains unclear if Storen Legacy Partners will maintain any ties to LPL Financial [3]. Group 4: Team Composition - The Storen team comprises 38 staff members, including five financial advisors and eight tax accountants [5].