INDEPENDENCE, OHIO (May 16, 2016) – Fairway Wealth Management LLC has completed the buy-out of its silent equity partner, Michael D. Benson of Naples, Florida. Founding partners Daniel R. Gaugler and Mark S. Weiskind increased their capital investment in the firm and admitted Charles J. Avarello and Terry J. Waye, two of the firm’s employees and senior wealth managers, as new equity partners.
“While we considered outside funding and were gratified by the interest shown by some of the industry’s top M&A players; we concluded that the best answer for our clients, employees, and owners is to remain independent; and to stay as focused, flexible, and client-centric as only a boutique-sized, employee-owned firm can be,” said Dan Gaugler, CEO and President. “We want to thank Mike Benson for his contributions over the past 14 years. He has been a valuable partner, but we are excited to expand the ownership base internally and move forward with a structure that promotes our growth plans, provides opportunity for our employees, and secures continuity for our clients,” said Mark Weiskind, COO and Vice President.
Fairway Wealth Management LLC (fairwaywealth.com) employs 13 professionals and provides investment advisory, wealth management, and family office services for approximately 170 private client families in Ohio, Florida, and 20 other states. The firm is an SEC-registered investment adviser (RIA) and manages portfolio assets in excess of $1.1 billion. Fairway was founded in 2002 when Messrs. Gaugler and Weiskind departed Deloitte’s private client unit to launch their own firm.
For more information, contact:
Daniel R. Gaugler
6055 Rockside Woods Boulevard, #330
Independence, OH 44131