Jan 5 Harbour Investments, the Madison,
Wisconsin-based independent broker-dealer, has hired its
largest ever adviser team with the addition of Jon LeBaron and
Richard LeBaron, who together manage about $300 million in
The two advisers focus on cash management in addition to
investment, retirement, insurance, estate and education
planning for clients in Western and Central Michigan.
The father-son team, who together manage the LeBaron
Financial Group, had been with their previous broker-dealer,
New York-based AXA Advisors, for more than four decades.
"Technology-wise, the world had moved beyond the
environment provided at AXA," Jon LeBaron said in an interview,
attributing their decision to switch broker-dealers to growth
in his and his father's practice.
The LeBaron Financial Group's client assets now make up the
biggest piece of Harbour Investments' $4.5 billion in total
The advisers spent more than a year looking for an
alternative broker-dealer, before settling on Harbour
Investments in March. They officially moved late last year.
They also made the move because they wanted to be with a
firm that remained free of pressure to cross-sell products or
raise revenue through alternative means, LeBaron said.
The advisers limited their broker-dealer selection to firms
that were located within the Big Ten Conference, a college
athletic conference primarily based in the Midwest, where their
clients are based.
"The new firm, being smaller and Midwestern, they're
willing to bend over backward to help us," Jon LeBaron said.