Lion Street Lands $1.3 Billion RIA with CSENGE
New partnership will benefit both firms, giving families better financial outcomes
CLEARWATER, FL — January 31, 2019 — Csenge Advisory Group (CAG), a wealth management firm, has joined Lion Street and its broker-dealer, Lion Street Financial. For the past 20 years, CAG had affiliated with FSC Securities Corporation. CAG founder and Managing Partner John Csenge served on the advisory board for FSC, and CAG was their top producer in 2017. Over each of the past two years, CAG has had exponential growth of 40% year-over-year. In search of a new opportunity, CAG executives investigated over a dozen leading broker-dealers, finally selecting Lion Street Financial.
“Lion Street has created a refreshing cultural environment that allowed its management to see the real value our team could bring,” said Csenge. “Our new partner understands and appreciates the Registered Investment Advisor (RIA), in general, and specifically recognized the value in our client-first approach to wealth management. This agreement is a win-win for both companies.”
“CAG brings scale, expertise, and high quality to our company”, said Brian Murphy, Executive Director of Lion Street. “John, Eric and the CAG team have built an outstanding firm and Lion Street will add to their strength with our integrated platform of planning strategies and national network of Owner-Advisors.”
CSENGE brings over $1.3 billion in assets under advisement, with another billion in the pipeline with pending acquisitions. The company oversees 28 advisors, supported by an additional 18 staff members. The company is excited to add both scale and expertise to Lion Street’s businesses, which focus on the planning needs of high-income earners, high net worth individuals, and business owners.
Lion Street is a premier player in the insurance business, allowing CAG to offer more sophisticated financial services to its clients. At the same time, the new partner is open to learning from CAG on the advisory side.
“Lion Street has embraced our unique approach to wealth management and that, more than anything else, is going to make this partnership a success,” said Eric Caisse Partner and Chief Investment Officer for Csenge Advisory Group. “Lion Street’s management team understood our tactical approach to the markets and appreciates our proprietary risk management strategies. This was paramount to us because we believe the traditional approach to asset management is broken and antiquated. To offer truly fiduciary advice to the market, we needed a partner who would allow us to deliver unbiased, product-agnostic investment solutions.”
The CAG approach differs from the passive and active channel approaches favored by most advisory firms today. Instead, the company approaches asset classes in a tactical fashion using a proprietary algorithm that combines fundamental, technical and behavioral approaches to portfolio management. This allows the company to adjust portfolios in direct response to market changes. Over the past two decades, this method has delivered better financial outcomes for more American families.
About Lion Street
Lion Street is a leading financial services company based in Austin, Texas. Lion Street provides elite independent life insurance and wealth advisory firms access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of high-net-worth and corporate clients. Every affiliated financial firm manager is a stockholder of Lion Street. Together, Lion Street’s Owner-Firms are strongly committed to building a fiercely independent, yet highly collaborative network of professionals. To learn more about Lion Street, visit www.lionstreet.com or connect on LinkedIn.
About Csenge Advisory Group
Csenge Advisory Group was founded in 1999 by a team of experienced advisors and Certified Financial Planner professionals with a unique vision in mind: to take financial planning and investment management to a higher standard of excellence. As an independent firm, the company is dedicated to providing truly objective advice to their clients. The company prides itself on fostering relationships based on trust, unparalleled service, and integrity. Through its team’s commitment to upholding the highest ethical and professional standards, they can provide clients with independent advice tailored to their clients’ needs. For more information about the company, call 888-500-2050 or visit the website at https://csenge.com/.
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Securities offered through Lion Street Financial, LLC., (LSF) member FINRA & SIPC. Investment Advisory Services offered through Csenge Advisory Group, a Registered Investment Advisor. Csenge Advisory Group and LSF are not affiliated.