By Andrew Welsch
A Wells Fargo advisor team that managed $3 billion in client assets left the company to open a fee-only registered investment advisory firm and selected TradePMR as its custodial support and technology provider, according to TradePMR, a unit of Robinhood Markets.
The team, called Gryphon Wealth, was previously affiliated with Wells Fargo Advisors Financial Network, or FiNet, the bank's independent broker-dealer unit. Wells Fargo has thousands of financial advisors, many of whom are employees of the bank; advisors affiliated with FiNet operate as 1099 contractors and rely on it to provide a trading platform, technology, compliance, and other services.
Jason D. Hyrne, CEO, CIO and co-founder of Gryphon Wealth, says his team chose to launch an RIA to better serve clients. "We have a commitment to helping our clients save and invest wisely with comprehensive financial planning and portfolio management," Hyrne says. "We're trying to build the advisory company that we'd want for our own families."
Gryphon Wealth is based in Jacksonville, Fla. In addition to Hyrne, the firm's leadership includes: Jeffrey L. Wyatt, chairman and co-founder; J. Adam Kirby, president and chief compliance officer; and Melissa Storch, chief operating officer. Hyrne and Wyatt formed team in 2005.
TradePMR provides RIAs with technology and other services. It currently relies on Wells Fargo's clearing and custody unit to hold client assets. But last year, TradePMR was acquired by brokerage firm Robinhood, which has been expanding its offering beyond its free stock trading app. Robinhood executives have said they expect to migrate TradePMR advisors and client assets to Robinhood's platform at an unspecified date in the future.
Robinhood and TradePMR executives have also said they are launching a referral program to connect brokerage clients with RIAs that use TradePMR. Founded by CEO Robb Baldwin, TradePMR serves approximately 400 RIAs.
Hyrne said his team picked TradePMR for its technology capabilities. "We expect these tools to support our efforts to evaluate and potentially incorporate capabilities such as AI, estate planning, and income tax planning into a more integrated client experience," he said.
Write to Andrew Welsch at andrew.welsch@barrons.com
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May 20, 2026 15:40 ET (19:40 GMT)
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