PHILADELPHIA, July 1, 2026 /PRNewswire/ — myCIO Wealth Partners, LLC (“myCIO”), one of Philadelphia’s largest independent registered investment advisors (“RIA”), today announced the sale of an advisory team to private equity backed Clearstead Advisors, LLC (“Clearstead”) which is headquartered in Cleveland, Ohio.
Clearstead is majority owned by private equity investment firm Flexpoint Ford which is headquartered in Chicago, Illinois.
myCIO oversees approximately $15.8 billion of regulatory assets under management (“AUM”) as of December 31, 2025, and the departing team managed approximately $2.6 billion of regulatory AUM (most recent Form ADV filing).
The transaction closed on June 30, 2026.
“This is a great transaction for myCIO, and we wish the departing team success with their new firm” said David Lees, Senior Partner of myCIO “The team was not a strategic fit with our existing business or future growth plans.”
“This is a win for our firm.” said Adrian Verueco, Partner and Chief Financial Officer of myCIO. “The sale allows us to focus our resources on our core business, creating greater value for our clients and our team.”
About myCIO Wealth Partners, LLC
myCIO is a Comprehensive, Independent and Objective (CIO) financial advisory firm which provides consulting services to over $15.8 billion of regulatory AUM as of December 31, 2025 of Individuals, Families, Endowments, Defined Contribution and Defined Benefit Plans and Trusts. myCIO was formerly Ernst & Young’s Philadelphia Investment Advisory Practice.
myCIO serves as the Chief Investment Officer (CIO) for many of its clients, with specialized expertise in alternative investments and fiduciary liability. We provide financial counseling services to more than 50 current and former Chairmen, CEOs, and Presidents of S&P 500 and Fortune 500 companies.
myCIO Wealth Partners was formed as the result of Ernst & Young’s decision to exit the Investment Advisory and Wealth Advisory services as of July 1, 2005 as the result of Sarbanes-Oxley.
Contact Information
Adrian G. Verueco
Partner & Chief Financial Officer
adrian.verueco@myciowp.com
+1 267 295 3883
www.myciowp.com
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SOURCE myCIO Wealth Partners
