From the Desk of Jim Eccleston at Eccleston Law LLC:
In what looks to be a growing trend for London-based Barclays, a group with $3 billion in assets under management has decided to leave the firm rather than joining Stiffel. The group’s defection appears to be just one of many after Barclays announced that it will be selling its U.S. wealth management operations to the brokerage and investment banking firm.
The team’s six advisors—Jack Petersen, James Cantelupe, Peter Lee, Tom Palecek, David Romhilt and John Scarborough—left Barclay’s to open Summit Trail Advisors, an independent advisory firm. Peterson, the new firm’s managing director, stated that being a part of an independent firm will allow the advisors to provide better research, investment solutions, and reporting technology to their clients.
The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.
