Twenty Four Wealth in Darien, Conn., a practice that reported $1.1 billion in assets under management over a year ago, launched today as an independent advisor, ending its affiliations with Stratos Wealth Partners and LPL, according to SEC filings.
Dawn DeMaio, the firm’s chief of staff, confirmed the launch but declined to speak further about the transition and Twenty Four Wealth’s plans. Since it affiliated with Stratos Wealth Partners in 2020 with $460 million in assets under management, two acquisitions increased the firm’s footprint and client assets.
At the time of its last acquisition in March 2025, Stratos reported that Twenty Four Wealth was managing about $1.1 billion.
For filing purposes, Twenty Four Wealth listed zero AUM on its Form ADV, as is required by the SEC at the beginning of a new RIA’s transition period. The firm registered with the agency under rules that allow it to open for business as long as it meets certain conditions within four months, including attaining at least $100 million in AUM.
As part of its transition to independence, Twenty Four has also dropped LPL Financial as its custodian.
Anthony Truino, the firm’s chief executive and a private wealth advisor, owns between 50% and 75% of Twenty Four Wealth Management Holdings, the SEC filing shows. Michael Carbino, managing partner and also a private wealth advisor, owns more than 25%. The holding company owns more than 75% of the RIA.
The remaining equity is owned by Truino, Carbino and Valerie Smithey, who serves as chief compliance officer.
The filings answer, at least on paper, a question hanging over the launch: What becomes of Twenty Four Wealth’s outside platform and broker-dealer relationships?
Neither Stratos Wealth Partners nor LPL appear anywhere in the new firm’s Form ADV, its wrap fee brochure or its client relationship summary. The only outside broker-dealer named in the filings is Private Client Services.
For custody, the firm listed three unaffiliated firms it will recommend to clients: Goldman Sachs Custody Solutions, Fidelity Brokerage Services and Charles Schwab.
According to the Form ADV, the firm has 31 employees, including six who perform investment advisory functions, 15 who are registered representatives of a broker-dealer and 16 who hold insurance licenses. Twenty Four Wealth also runs a branch office in Bedford, N.H., in addition to its Darien headquarters, according to the filing.
Twenty Four Wealth’s advisory menu spans asset management, comprehensive portfolio management bundled with financial planning, standalone financial planning and consulting, pension and retirement plan consulting, and selection of outside money managers, the firm’s brochure said.
Advisors can bring clients in through a wrap fee program the firm sponsors or through an unbundled, non-wrap arrangement; both cap the annual advisory fee at 2% of assets, though the wrap version folds in transaction costs while the non-wrap version bills them separately. Non-wrap accounts carry a $10,000 minimum, though the firm said that threshold can be waived in certain cases. Hourly financial planning runs as high as $1,000 an hour, and the firm caps any prepayment at $1,200 per client more than six months in advance.
The firm’s wrap brochure also flags a marketing change timed to the launch: Starting today, Twenty Four Wealth said it will let its advisors use client testimonials, provided they meet the SEC’s disclosure requirements on compensation, conflicts and the reviewer’s status as an actual client, and provided representatives don’t suppress unfavorable comments.
When the Twenty Four Wealth team broke away from MassMutual Financial Advisors to affiliate with Stratos in 2020, it reported about $460 million in client assets under management. In February 2024, the firm bought Raymond Noel & Associates, adding nearly $150 million in assets and increasing the firm’s footprint in affluent Boston suburbs. In March 2025, it bought Alpha Beta Gamma Wealth Management in Palm Beach Gardens, Fla., in a deal that reportedly boosted the firm’s total AUM past $1.1 billion.