Leading San Francisco-Based Wealth Management Team, Led by Entrepreneur David Steele, Launches One Wealth Advisors as an Independent Advisory Firm
NEW YORK, NY, September 10, 2015 – David Steele and Jonathan Steele today announced the formation of One Wealth Advisors, a leading independent financial advisory firm based in San Francisco. One Wealth Advisors was launched in partnership with Dynasty Financial Partners.
Prior to the creation of One Wealth Advisors, David and Jonathan Steele ran a financial planning practice at J.P. Morgan Securities, the wealth management division of J.P. Morgan. Joining them at One Wealth Advisors are Alexander J. Schmitz, CFP®, Director of Financial Planning, Kevin M. Cohen, Director of Operations and Samuel A. Stephens, Senior Client Service Associate – all from J.P. Morgan.
In addition to being CEO of One Wealth Advisors, David Steele is a successful entrepreneur in numerous businesses in lifestyle, health and wellness, and arts and entertainment in San Francisco. He is a restauranteur with six restaurants throughout the city including the popular restaurants flour + water, Aatxe and Trick Dog. In addition, he has led initiatives in music and entertainment, primarily through his work as a partner in Noise Pop, which promotes significant music and cultural events, including the Treasure Island Music Festival and the San Francisco Street Food Festival. He also owns Moxie Yoga & Fitness Studios.
“Our clients want a deeply personalized approach to financial planning,” said David Steele, CEO of One Wealth Advisors. “Our move to independence is driven by our desire to offer our clients flexibility, responsiveness, opportunity and the ability to offer a far more complete and tailored approach. We will be free to collaborate with handpicked independent specialists and develop and implement options tailored to the client – with no conflicts.”
According to Jonathan Steele, CFA®, Chief Investment Officer of One Wealth Advisors, “Establishing our own independent advisory and wealth management firm will afford us the opportunity to utilize the best thinking and research available when managing our clients’ wealth, regardless of its origin. It is the perfect marriage of objective advice and unrestricted access to information.”
Based in San Francisco, CA, One Wealth Advisors works with high net worth clients including corporate executives, retirees, small business owners and foundations. One Wealth Advisors provides their clients with comprehensive wealth management services which include the integration of estate planning, tax planning and investment management. The team collaborates with professionals providing support to families including their estate lawyers, accountants, tax experts, bankers and executive coaches to develop an overall ‘family plan.’ The firm’s investment focus is wealth preservation, while growing wealth for the long term and customizing investment plans and portfolios to reflect client values, objectives and preferences.
“The One Wealth Advisors team consists of extraordinary financial advisors with an entrepreneurial mindset,” said Shirl Penney, President and CEO of Dynasty Financial Partners. “We look forward to partnering with them as they build their business and we are proud to add them to our Network of truly independent advisors.”
“At Dynasty, we are seeing significant growth on the West Coast in the independent space. The message of advisor independence resonates in California– both with advisors and with their clients,” said Austin Philbin, Senior Vice President of Client Service who leads Dynasty’s West Coast office based in San Francisco. “David, Jonathan and their team are in the forefront of the movement toward independence on the West Coast.”
One Wealth Advisors is the most recent independent investment advisory firm to leverage Dynasty Financial Partners’ industry-leading platform of integrated wealth management services and technology. The company will access Dynasty’s groundbreaking investment platform, which integrates proprietary research from Wilshire Associates and Callan Associates and Envestnet’s state-of-the-art portfolio tools and reporting technology. Fidelity will provide custody services.
For more information, please visit www.onewealth.net.
David G. Steele
Chief Executive Officer
As CEO of One Wealth Advisors, David Steele sets the vision, leads strategic planning and spearheads the overall approach and business management at One Wealth Advisors. His career spans more than two decades of financial services experience, including portfolio management, tax planning, and estate and trust planning. Mr. Steele also has a proven track record as a successful entrepreneur and leading business owner.
Prior to launching One Wealth Advisors, Mr. Steele was an Executive Director and Financial Advisor with J.P. Morgan Securities, the wealth management division of J.P. Morgan.
Mr. Steele received a Bachelor of Business Administration degree from Temple University and earned a Master of Arts degree in English Literature from San Francisco State University. He is a well-known restaurateur in the Bay Area, and also has a passion for theatre. Through his board work with Playground, a not-for-profit playwright incubator, he enjoys helping to provide support and opportunities for new voices in theatre.
Jonathan E. Steele, CFA®
Chief Investment Officer
Jonathan Steele is a certified Chartered Financial Analyst® (CFA) and member of the CFA Institute, and leads the company’s investment research and portfolio management initiatives in his role as Chief Investment Officer of One Wealth Advisors. Mr. Steele has a clear passion for serving clients and helping them achieve their financial goals. With more than 17 years of client and investment experience, clients benefit not only from his depth of investment knowledge and expertise, but also his ability to design a financial plan around their individual life goals.
Before One Wealth Advisors with his brother David, Mr. Steele was an Executive Director with J.P. Morgan Securities, where he focused on helping families move closer to and meet their financial and life goals.
A graduate of Temple University, Mr. Steele holds a Bachelor of Business Administration degree with a concentration in Economics. Like David Steele, Jonathan Steele is also involved in giving back to the arts and performance community, specifically through his work as a board member of a group that promotes music, education and dance in Silicon Valley.
Alexander J. Schmitz, CFP®
Director of Financial Planning
Alexander Schmitz is a Financial Advisor with One Wealth Advisors. A Certified Financial Planner® (CFP), Mr. Schmitz focuses on holistic financial planning including retirement, insurance, education, estate and income tax planning — and ensuring that investment portfolios are optimally aligned with the specific goals of each and every client.
Prior to joining One Wealth Advisors, Mr. Schmitz was a financial advisor with J.P. Morgan (previously Bear Stearns). He was a financial analyst at Schmitz Capital Partners and interned at Morgan Stanley during college.
Mr. Schmitz earned his Bachelor of Science with a concentration in Finance from the Leeds School of Business at the University of Colorado.
Director of Operations
As Director of Operations, Kevin Cohen oversees all aspects of One Wealth Advisors’ day-to-day operations, including client portfolio and account monitoring, new accounts and asset transfers.
Mr. Cohen has more than 20 years of financial services experience. He directed Operations at The Steele Group, served as Vice President in Collateral Management at Bear Stearns and was a Margin Manager at E*Trade.
Samuel A. Stephens
Senior Client Service Associate
Samuel A. Stephens is a Senior Client Service Associate for One Wealth Advisors. He joins the firm from J.P. Morgan.
Mr. Stephens has 15 years of experience in the financial services industry, having launched his career in 2001 at Washington Mutual Bank. In 2006, he joined J.P. Morgan Chase and then moved to J.P. Morgan Securities in 2014 as a Client Service Professional.
A graduate of the University of Oklahoma with a B.A. in Administrative Leadership, Mr. Stephens currently serves as the Co-Chair for V.E.T.S (Voices for Employees That Served), a business resource group for returning veterans; he was one of the founding members of the group’s California chapter. He served in the U.S. Marine Corps before joining J.P. Morgan.
About Dynasty Financial Partners
Dynasty Financial Partners is the premiere integrated platform for the wealth management industry’s top advisors. Dynasty develops, sources and integrates wealth management capabilities, solutions and technology into its open-architecture platform to help independent advisors protect and grow their clients’ wealth. Dynasty’s core principle is “objectivity without compromise”, and the firm is committed to crafting solutions that allow investment advisors to act as true fiduciaries to their clients. For more information, please visit www.dynastyfinancialpartners.com and follow us on Twitter @DynastyFP.