An Itasca, Illinois-based advisor team broke away from Ameriprise to start Pendulum Partners, an independent RIA in the Chicago area with approximately $400 million in client assets. Co-Founders Matthew McWherter and Tom Parker on Friday announced the launch of their new firm, saying Pendulum Partners allows them to combine their expertise in tax optimization and wealth management to “better serve entrepreneurial families and business owners.”
Pendulum Partners “addresses a common frustration among successful business owners: the need to coordinate between separate advisors who often work in silos,” the firm’s Co-Founders said in a news release. The new firm provides accounting, wealth management, tax planning and compliance, CFO services, investment management, estate planning and business succession strategies.
McWherter joined Ameriprise Financial Services in May 2006 and remained with the firm until he and Parker started Pendulum Partners this month, according to McWherter’s LinkedIn page and BrokerCheck report.
Parker joined Cetera in November 2013 and was with that firm until January 2020, according to his BrokerCheck report. He joined Ameriprise in August 2023 and left to start Pendulum Partners this month.
Both McWherter and Parker are dually registered investment advisors and broker-dealers, according to BrokerCheck.com.
“We’ve listened to clients who are tired of being the go-between for their various financial specialists,” McWherter said. “While integrated services aren’t new, what sets Pendulum Partners apart is our relentless focus on service delivery and our deep understanding of the entrepreneurial mindset.”
Pendulum Partners “prioritizes responsiveness and relationship-building, with each client assigned a dedicated team that anticipates needs rather than simply reacting to requests,” according to the firm. “This approach creates efficiency while ensuring business owners can focus on growth rather than financial administration.”
“We named our firm Pendulum Partners because, like a pendulum, proper wealth management and implementation requires precision, consistency, and the right balance between preservation and growth.” – Tom Parker, Co-Founder, Pendulum Partners
“Our clients are building businesses that stand the test of time,” according to Parker. “We named our firm Pendulum Partners because, like a pendulum, proper wealth management and implementation requires precision, consistency, and the right balance between preservation and growth.”
The RIA says it “specializes in working with family businesses and high-net-worth individuals with complex financial situations.”
The Co-Founders were advised on the RIA build by Fusion Financial Partners. They selected Schwab for custodial services and Purshe Kaplan Sterling Investments (PKS) as broker-dealer.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
