The wealth manager, which had been working with part of Raymond James, doing so since 2016, is now entering its second phase of development.

Crux Wealth Advisors  today announced its official launch as a hybrid RIA and full-service wealth management firm. It parted ways with Raymond James Financial Services at the beginning of August.

The firm has launched with its first tranche of $1 billion in client assets under management in a phased change to disrupt business and client service as much as possible.

Crux founder and CEO Travis Alexander, established the company in 2016, using the Raymond James platform, growing the assets under management from about $70 million in the first year to more than $3 billion.

"We’re embarking into what I would call phase two of our business. During phase one, we had to establish proof of concept and scale,” Alexander said. “Ultimately this allowed us to evolve into phase two, where we can truly innovate and optimize the firm without bureaucratic constraints or influences that are out of alignment with our values and vision."

Crux is open to joiners such as breakaway and tuck-in advisors, it added. 

Manhattan-based Decerno Advisors served as a strategic advisor for Crux Wealth Management.