Tower 68 Financial Advisors: Company Profile
Background
Overview
Tower 68 Financial Advisors is an independent wealth management firm based in Newport Beach, California. Established in 2021, the firm offers personalized financial advising, focusing on empowering clients to take control of their financial journeys. Their services encompass comprehensive financial planning, investment strategies, and ongoing support tailored to individual needs.
Mission and Vision
The firm's mission is to provide clients with the tools and expertise necessary to work towards their financial and life goals. They aim to simplify the complexities of the stock market, offering tailored guidance to enable informed decision-making with confidence.
Primary Area of Focus
Tower 68 specializes in personalized wealth management, asset management, investment products and services, retirement planning, and financial planning. They cater to a diverse clientele, including pre-retirees, retirees, young professionals, mid-career professionals, business owners, entrepreneurs, families, and new parents.
Industry Significance
As an independent firm, Tower 68 Financial Advisors offers unbiased investment options, free from proprietary products and corporate agendas. This independence allows them to provide personalized strategies designed purely in the client's best interests, distinguishing them in the wealth management industry.
Key Strategic Focus
Core Objectives
The firm's primary objectives include delivering personalized financial planning, offering clear stock market insights, developing tailored investment strategies, and providing ongoing support to adapt to the evolving financial landscape.
Areas of Specialization
Tower 68 specializes in asset management, investment products and services, retirement planning, financial planning, and services for children and teens, such as custodial accounts and educational savings plans.
Key Technologies Utilized
While specific technologies are not detailed, the firm emphasizes the use of sophisticated resources and technology platforms to enhance client experiences and streamline financial management processes.
Primary Markets Targeted
The firm serves a broad market, including pre-retirees, retirees, young professionals, mid-career professionals, business owners, entrepreneurs, families, and new parents, addressing a wide range of financial needs and goals.
Financials and Funding
Funding History
In August 2021, Tower 68 Financial Advisors launched as an independent practice through affiliation with LPL Financial’s Strategic Wealth Services model. This partnership provided the firm with dedicated support for daily operations and long-term business management, including real estate build-out, brand development, technology setup, and HR services.
Total Funds Raised
Specific details regarding the total funds raised by Tower 68 Financial Advisors are not publicly disclosed.
Notable Investors
The firm operates as an independent entity and does not have publicly disclosed investors.
Intended Utilization of Capital
The capital and support from LPL Financial's Strategic Wealth Services have been utilized for infrastructure development, technology setup, and operational support to establish and grow the firm's independent practice.
Pipeline Development
As a wealth management firm, Tower 68 Financial Advisors does not have a product pipeline or clinical trials. Their focus is on providing personalized financial services to clients, with no publicly disclosed upcoming product developments or service expansions.
Technological Platform and Innovation
Proprietary Technologies
While specific proprietary technologies are not detailed, the firm emphasizes the use of sophisticated resources and technology platforms to enhance client experiences and streamline financial management processes.
Significant Scientific Methods
The firm employs recognized fundamental and technical analysis models to tailor each portfolio to match clients' unique goals, risk tolerance, and time horizons.
AI-Driven Capabilities
There is no publicly available information indicating the use of AI-driven capabilities within the firm's operations.
Leadership Team
Ken South – Founder and CEO
Ken South founded Tower 68 Financial Advisors in 2021, bringing over 36 years of experience in the financial services industry. Prior to this, he founded The South Group in 2006. Ken's background includes serving as a lifeguard on Tower 68 in Newport Beach during his youth, which inspired the firm's name.
Steve Arcos – Co-Founder and COO
Steve Arcos serves as the Chief Operating Officer of Tower 68 Financial Advisors. With over 30 years in the financial services industry, Steve has held senior leadership roles, focusing on operations, compliance, and branch management. He joined Ken South in establishing the firm to provide operational expertise and support.
Rich Dougherty – Director of Client Development
Rich Dougherty holds the position of Director of Client Development at Tower 68 Financial Advisors. Specific details regarding his professional background and contributions are not publicly disclosed.
Spencer South – Executive Director of Business Development
Spencer South serves as the Executive Director of Business Development. She is Ken South's daughter and joined the firm to assist in marketing and client meetings, contributing to the firm's growth and client engagement.
Karen Friedman – Executive Director of Financial Planning
Karen Friedman holds the position of Executive Director of Financial Planning. Specific details regarding her professional background and contributions are not publicly disclosed.
Farrel South – Director - Client Relationship Manager
Farrel South serves as the Director and Client Relationship Manager. Specific details regarding his professional background and contributions are not publicly disclosed.
Ron Witter – President & Founder, Witter Wealth Management of Tower 68 Financial Advisors
Ron Witter is the President and Founder of Witter Wealth Management, a division of Tower 68 Financial Advisors. Specific details regarding his professional background and contributions are not publicly disclosed.
Scott Turcott – Chief Executive Director
Scott Turcott holds the position of Chief Executive Director. Specific details regarding his professional background and contributions are not publicly disclosed.
David Turcott – Senior Managing Director
David Turcott serves as the Senior Managing Director. Specific details regarding his professional background and contributions are not publicly disclosed.
Paul Turcott, CFP® – Managing Director - CFP®
Paul Turcott is a Managing Director and Certified Financial Planner™. Specific details regarding his professional background and contributions are not publicly disclosed.
Alan Turcott – SVP of Client Relations
Alan Turcott holds the position of Senior Vice President of Client Relations. Specific details regarding his professional background and contributions are not publicly disclosed.
Lillian Turcott – Client Services Specialist
Lillian Turcott serves as a Client Services Specialist. Specific details regarding her professional background and contributions are not publicly disclosed.
Stephen Ghosal – Chief Financial Officer
Stephen Ghosal is the Chief Financial Officer of Tower 68 Financial Advisors. Specific details regarding his professional background and contributions are not publicly disclosed.
Melinda Staab – Senior Marketing Consultant
Melinda Staab holds the position of Senior Marketing Consultant. Specific details regarding her professional background and contributions are not publicly disclosed.
Leadership Changes
There are no publicly available records indicating recent significant changes or appointments within the company's leadership.
Competitor Profile
Market Insights and Dynamics
The wealth management industry is characterized by a diverse range of firms, from large institutions to independent advisors. Clients seek personalized financial planning and investment strategies, driving demand for services that offer tailored solutions and unbiased advice.
Competitor Analysis
Key competitors in the wealth management sector include:
- Focus Financial Partners: An American company that invests in independent, fiduciary wealth management firms, offering a platform for growth and operational support.
- Hightower Advisors: A financial planning and investment advisory firm headquartered in Chicago, Illinois, providing comprehensive wealth management services.
Strategic Collaborations and Partnerships
Tower 68 Financial Advisors has partnered with LPL Financial's Strategic Wealth Services to establish and grow their independent practice. This collaboration provides dedicated support for daily operations, infrastructure development, and business management, enabling the firm to focus on client relationships and financial planning.
Operational Insights
By operating
