A team of veteran advisors have launched XXI Wealth, an independent wealth management firm in Chicago partnered with Dynasty Financial Partners.
The firm’s four principals, who have an average of more than 25 years of experience in the investment industry, are:
Kurt Newsom, Managing Partner, Wealth Advisor (formerly with CIBC)
Matt Cavanaugh, Managing Partner, Director of Investments (formerly with a multi-family office RIA)
Kathleen Merkle, SVP, Client Service Manager (formerly with CIBC)
Elizabeth Sadler, SVP, Client Service Manager (formerly with CIBC)
The team previously managed $900 million, serving a client base including athletes, attorneys, business professionals and entrepreneurs.
“We are thrilled to launch XXI Wealth,” says Cavanaugh in a news release. “With our newfound independence, we will be able to offer our clients innovative investment solutions on a more efficient technology platform, allowing us to expand our level of service and offerings to fit their exact needs.”
Newsom added, “We have a team of professionals driven by a shared vision to redefine excellence in wealth management. By combining our expertise, innovation, and commitment to client success, we are building a firm that sets the gold standard for the industry.”
The firm’s name “XXI Wealth” refers to the concepts of “independence and greatness associated with the number 21,” according to the release.
“Throughout history, the number 21 symbolizes positivity, transformative change, and expanded horizons—qualities we aim to embody for the benefit of our team and clients in the years ahead,” Cavanaugh says.
“The XXI Wealth team has extensive operational backgrounds, so they are very familiar with the never-ending puzzle of which technology and processes are needed to improve efficiency and ultimately the client experience,” says Shirl Penney, Founder and CEO of Dynasty Financial Partners. “We are proud to partner with them and provide them with the right infrastructure that allows them to focus 100% on their clients from Day One.”
XXI Wealth has named Schwab and Fidelity as its custodians and will partner with Pontera to support its 401(k) management offering.
Most women are comfortable taking risk in their investments and cite patience and discipline as their top investing strengths, a Schwab survey reveals.
