Derek Bruton rides again as CEO of Chalice Wealth Partners IBD and RIA, after Kingswood acquisition splits units from the services outsourcer
Louis Diamond Quoted
By Oisin Breen
Former LPL Financial senior executive Derek Bruton now heads his own independent broker-dealer, after Kingswood Holdings bankrolled and spun off two subunits of Keith Gregg’s start-up, Chalice Wealth Partners (CWP).
Bruton’s Post-LPL career has consisted of shorter stints at smaller enterprises and just under two years at old-line broker-dealer Oppenheimer & Co.
The difference now is that Bruton has the chance to leverage his personal brand in a brokerage realm he knows — and where he is known, says Louis Diamond, principal of Diamond Consulting in New York, via email.
“The [Chalice] brand doesn’t really carry much weight, but Derek’s name and reputation [does] … [It’s] a building block for future deals and an ‘acqui-hire’ to grab someone entrenched in the IBD industry.”