Sarasota County Firm Moves to Full Independence and Changes Name
VENICE, January, 2020 –Pinkerton Private Wealth, a long-established private wealth firm based in Venice, FL, announced today that it has become a fully independent Registered Investment Advisor (RIA).
The move allows the firm to function as a fiduciary, putting clients’ interests first in every situation. It also helps ensure that decisions regarding clients’ accounts and investment management are made at the local level. Prior to launching as an independent RIA, the team operated through Wells Fargo FiNet, the independent contractor division of Wells Fargo.
In tandem with the transition, the firm renamed and rebranded. It will henceforth have three divisions: FourThought Private Wealth, serving individuals and families; FourThought Signature, for highly affluent families who seek family office services and multigenerational planning; and FourThought Institutions, providing institutional consulting and investment management services for corporations, nonprofits, foundations and endowments. As part of the rebrand it launched a new website, fourthought.com.
Partner Bill Mehserle noted that the transition was the right time to change the firm’s name to FourThought, which is a reflection of its planning orientation, four key investment principles and four core values. It is also a more appropriate brand for the firm’s future expansion plans.
In addition to Mehserle, a Certified Financial Planner™ and Accredited Investment Fiduciary, the team is led by managing partner Scott Pinkerton, CFP®, AIF®, CIMA®, CPWA®. Chief Investment Officer Patrick Baumann, CFA®, CTP, and Chief Operating Officer Donna Guinta.
Pinkerton has been a financial planner in Sarasota County for more than 30 years. In 2019 he was named to national lists including The Financial Times 400 Top Advisors, the Barron’s Top 1200 Advisors, and the Forbes 2019 Best-In-State Wealth Advisors.* Baumann is the former treasurer of the global defense contractor Harris Corporation, where he spent nearly 20 years before joining FourThought to serve as the CIO and launch the institutional division. Guinta is the former COO of Cadaret, Grant & Co., a New York-based broker dealer and RIA with 475 offices in 27 states.
“We have more than 50 years of experience in financial planning and an all-star team,” said Pinkerton. “Transitioning to the RIA model allows us to fully leverage our knowledge and talent with state-of-the-art technology and local control. The true beneficiaries are our clients, because we can take our services to the next level and help them make good decisions that reduce their stress.”
FourThought Private Wealth has formed strategic relationships with some of the leading providers in the industry, including Fidelity Clearing & Custody Solutions®, which will act as the primary custodian for their clients’ investment assets.
David Canter, head of the RIA segment for Fidelity Clearing & Custody Solutions noted, “The team at FourThought Private Wealth understands the benefits of going beyond investment management by building deep relationships with clients and preparing plans built around the needs clients face today and their goals for supporting future generations. We’re excited to support the team as they explore what the future holds for them as an independent firm and pursue new avenues of growth.”
While the name and business model have changed, FourThought Private Wealth’s focus and mission have not changed from that of Pinkerton Private Wealth. It aims to reduce the stress of financial planning by answering the universal question, “Are we going to be okay?” and identifying potential planning blind spots. Plans and investment strategies are customized to client needs and aligned with the way they think.