On June 15th, 2020 the leadership team from Midwest Financial Partners announced the group’s formation of the independent registered investment advisory firm Octavia Wealth Advisors (Octavia). The transition to this new wealth management business marks what the firm’s chief executive Maxim Meyers calls “a natural evolution of our service delivery” at a time when more Americans than ever need client-focused and impartial quality financial advice.
Octavia’s partners have a long history working together at Midwest Financial Partners, spanning more than 20 years for the most senior members of the team. This commitment to each other and their shared mission of addressing their clients’ entire set of financial needs, helped to drive the business forward and grow to be one of AXA Equitable Advisors’ most successful teams. The eight partners are Mark Bodnar, Donald Hughett, Michael Ingram, Maxim Meyers, Andrew Seni, Justin Setzekorn, Luis Strohmeier and Marc Wagner. The firm will bring its 35 employees into the fold servicing clients out of its offices in Cincinnati, Los Angeles, San Diego and Miami.
“We are proud of our legacy of collaboration with AXA Equitable. We looked at this transition through the lens of how we could best serve the increasingly diverse set of needs our clients have. Our partnership team is committed to independence and operating as an RIA firm will enable us to be the best stewards of our clients’ financial lives,” explains Strohmeier, partner and wealth advisor at Octavia.
Merchant has partnered with Octavia and made a minority investment in the new firm to facilitate its transition to independence. “We are excited to partner with Octavia,” says Bryan Staff, Managing Partner at Merchant. “We will work with Octavia to build out the ideal client-focused independent wealth management business for today’s market landscape. Octavia has a scalable organization, with domestic and international growth opportunities and a fiduciary mindset aimed at offering the best possible solutions for their large and diverse client base.”
“At Octavia, we are unleashing the full power of both technology and our relationship skills, combining a grasp of hard data with insights into what our clients want and need. Using a client’s soft data, we learn about their life philosophy, how they make decisions and what matters most to them. A financial plan should be about a client’s life and goals, not only about the numbers,” asserts Strohmeier.
“The biggest advantage now is the ability to be nimble and quick. If we see an opportunity that’s going to benefit our clients, we can implement it ourselves and really deliver best-in-class service,” says Meyers, CEO, partner and wealth advisor at Octavia. “We are grateful for our heritage in the business and excited for the future.”
Octavia’s clients can expect to work with the same advisory team that is now equipped with more technology resources, increased flexibility with investment options and better alignment of incentives between the firm and the people it serves. The firm will continue to serve new and existing individual clients and families, addressing the financial needs of people at all stages of their lives, as well as work extensively in the retirement plan market with both 403(b) and 401(k) plan offerings.