SOURCE: The Sullivan Group

The Sullivan Group

September 01, 2009 11:35 ET

The Sullivan Group™ Goes Independent

Partners Lehmann and Halverstadt Go Independent; Junior Associates Stay Behind

SACRAMENTO, CA--(Marketwire - September 1, 2009) - The Sullivan Group™ Managing Partners Sean Lehmann and Kurt Halverstadt today announced The Sullivan Group is now an independent investment advisory firm providing investment and retirement services in the Sacramento region.

"We've historically been affiliated with large financial institutions," said Lehmann. "Our move to become independent is based on our desire to represent the best interests of our clients. As independent advisors, we offer our clients transparency and objective advice, free from conflicts of interest often experienced by wirehouse stockbrokers."

While it is new for The Sullivan Group to operate as an independent investment firm, the firm's management team is the same. Previously, Lehmann and Halverstadt managed The Sullivan Group during its prior affiliations with Morgan Stanley and Wachovia Securities. Together, they managed or advised combined assets of more than half a billion dollars. They also supervised two junior associates who will not be a part of the new firm.

"Many people don't realize how close the major financial institutions came to a near meltdown last year," added Halverstadt. "We felt that we needed to distance ourselves from the Wall Street conglomerates to protect our clients."

The Sullivan Group has chosen Schwab Institutional to maintain custody of their clients' assets. The partners selected Schwab based on its ethical business practices and ability to avoid the Troubled Asset Relief Program (TARP). When appropriate, investments may also be offered through the services of Albany, New York-based Purshe Kaplan Sterling Investments (PKS), utilizing the clearing services of National Financial Services. PKS specializes in assisting independent advisory firms, such as The Sullivan Group, in non-fee-based situations.

About The Sullivan Group™

Formation of The Sullivan Group dates back 25 years to when Tom Sullivan, now an anchor for Fox Business Network, launched the company as a Sacramento investment firm. Lehmann and Sullivan reintroduced The Sullivan Group in 1994 and Halverstadt joined them in 1998. When Sullivan left the firm in 2007 to join Fox Business Network, Lehmann and Halverstadt continued serving as managing partners.

The Sullivan Group is located in Roseville at 2270 Douglas Blvd., Suite 205. For more information, call 916.797.8500 or visit www.sullivangroup.net.

Contact Information

  • Contact:
    Sean Lehmann
    916.216.8200
    Kurt Halverstadt
    916.600.1562

    Lori Denaro
    LucyCo Communications
    916.281.4460