1280 Financial Partners has opened a location in North Augusta as part of a group overseeing around $2 billion in client assets.
What began in Ft. Myers, Florida, and Sandusky, Ohio, under the umbrella of United Bank of Switzerland (UBS), the firm also has offices in Miami and in North Augusta at the West Martintown Business Complex at 1315 W. Martintown Road.
In May, 1280 Financial Partners left UBS to join independent broker-dealer and advisory firm Sanctuary Wealth Management, which includes more than 120 partner firms overseeing approximately $50 billion in combined assets. It has invested in 11 of its affiliated practices.
North Augusta native Allen Flippo is a natural fit for the company. He grew up just down the road from Old McDonald Fish Camp. His dad worked for NCIS, not the TV show, but the Naval Criminal Investigative Service. His mom worked for Edward Jones for more than 20 years.
“I learned about saving money between the two of them. I went to seminars with them, so I had an interest in money management from an early age,” explained Flippo.
He also did an internship with NW Mutual, helped train bomb dogs for the Marines, and worked in pharmaceutical sales for a few years.
“My ultimate goal was to build a high level of confidence as a founding partner for 1280 and to raise capital for businesses to grow. Between our four offices, our clients receive service from all of us.”
For reference, 1280 Financial Partners was named for the 1,280 miles between its first two offices in Fort Myers and Sandusky. Their services include high and ultra-high-net-worth individuals, families, athletes, entertainers, entrepreneurs, and corporate executives. It also serves insurance, corporate, government, non-profit, and endowment clients.
“It’s a tough industry with a lot of oversight; we strive to make it easy for our clients. If you are wanting to sell your business, we can give you the direction to increase the value of your business to make it more profitable,” said Flippo.
The company also has expertise in helping auto dealers with insurance, specialized taxes, and compliance requirements. Their partnership with Sanctuary Wealth Management gives 1280 Financial Partners a leg up in dealing with the back-office work.
For UBS, it’s been a difficult year. In the same month that 1280 Financial Partners announced its partnership with Sanctuary Wealth, another UBS team managing $800 million joined Wells Fargo Advisors. Prior to that, a billion-dollar team moved to Rockefeller Capital, and a $6.5 billion Texas team went with Stifel. In March, UBS lost a billion-dollar broker to Merrill and another to Morgan Stanley Private Wealth.
To learn more about 1280 Financial Partners, click here.
Editor’s Note: Mitzi Oxford is a veteran broadcaster and features writer who also worked at the same television station in Columbus, Georgia, as Augusta’s Brad Means! If you have a South Carolina story idea for Mitzi, please email her at mitzioxfordcreative@gmail.com.
