SOURCE: Lion Street

Lion Street

October 31, 2012 10:55 ET

John Lefferts Appointed to Lead Lion Street's New Broker-Dealer and RIA Initiative

AUSTIN, TX--(Marketwire - Oct 31, 2012) - Lion Street announced today the addition of industry veteran John Lefferts to its management team as President of Lion Street Financial and Lion Street Advisors, its newly formed subsidiaries for Broker-Dealer and Registered Investment Advisory services.

Bob Carter, founder and CEO of Lion Street, comments, "We see an opening in the high-net-worth market for an advisor-owned model that cuts across the silos of investments, insurance and advice. John Lefferts has been working with us over the past year to develop this differentiated model, and I'm pleased to have his experience and leadership on the Lion Street team." Lefferts has been consulting with private equity and financial services firms since 2009, when he left his 27-year career with AXA-Equitable, where he served as President and CEO of AXA Advisors, the industry's fourth largest independent broker-dealer.

Lion Street, now consisting of 67 Advisor-Owners, is well positioned to take advantage of the changing regulatory landscape. It presents a tremendous demand for high-net-worth insurance and investment advisory firms to have a totally independent and open architecture product and service platform. 

"Having the opportunity to work with Bob Carter in developing the next great story in the financial services business is very exciting," remarks Lefferts. "Where at one time having a large infrastructure was seen as an advantage in this business, in contrast, having the ability to build a new firm without legacy systems and high-cost operational structure allows us to quickly come to market with a pioneering model that best meets the needs of our advisors and their clients."

Austin Ventures, Lion Street's venture capital partner, is providing additional capital to launch the new subsidiaries. Ken DeAngelis, Founding Partner, comments, "Lion Street has been an excellent portfolio company for Austin Ventures. We believe in the model, the management team has executed flawlessly, and we value the concept of investing alongside advisors. We plan to be aggressive in pursuing opportunistic investments and acquisitions."

Lion Street Financial and Lion Street Advisors are expected to be fully operational in the second quarter of 2013. 

About Lion Street, Inc.
Lion Street, Inc. is a privately held financial services distribution company based in Austin, Texas. Lion Street provides elite independent life insurance producers access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of their high-net-worth and corporate clients. Lion Street is a portfolio company of Austin Ventures, a venture capital firm with $3.9 billion of assets under management. To learn more about Lion Street, visit www.lionstreet.com.

Contact Information

  • Media Contact:
    Shaina Forman
    Lion Street
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    (512) 776-8487