Sound Income Group Launches, Aligning Retirement Income Store, Sound Income Strategies and Advisors' Academy to Create an Enhanced Income-Focused Wealth Management Platform

PR Newswire
Wednesday, October 5, 2022 at 10:00am UTC

Sound Income Group Launches, Aligning Retirement Income Store, Sound Income Strategies and Advisors' Academy to Create an Enhanced Income-Focused Wealth Management Platform

PR Newswire

Combination of Coaching, Investment Strategies and RIA Solutions Businesses Founded by Industry Innovator David Scranton to Support Independent Financial Professionals Focused on Becoming Income Specialists

Company Builds Out Leadership Team with Hiring of Senior Executives from Advisor Group in Key Strategy, Technology and Operations Roles

FORT LAUDERDALE, Fla., Oct. 5, 2022 /PRNewswire/ -- Sound Income Group, a Fort Lauderdale, Florida-based, diversified financial services company with approximately $1.7 billion in total assets under advisement, today announced its formation as a pioneer in income-focused wealth management platform for independent financial professionals. Sound Income Group brings together Sound Income Strategies, the Retirement Income Store and Advisors' Academy under one parent company, with each of the three businesses operating as closely collaborative subsidiaries. 

Each of Sound Income Group's constituent firms was founded by David Scranton, with the formation of the new company expected to enable each business to accelerate its capabilities in supporting independent financial professionals with the mission of delivering customized income solutions and resources to investors across the country.

In a related move, Sound Income Group also announced the hiring of multiple senior wealth management executives to advance the company's strategic growth plans in capturing the enormous opportunities in an investing environment increasingly focused on the pursuit of yield.

David Scranton, who will serve as CEO of Sound Income Group, said, "In my more than 30 years of providing retirement and wealth management services, I have never seen a more crucial moment to make income generation the cornerstone of successful financial planning.

"Our new structure brings together three highly complementary businesses to create a platform that provides the best possible solutions, support and knowledge to independent financial professionals who want to become income specialists that guide clients towards a truly more secure retirement in an increasingly uncertain economic landscape."

Greater Than the Sum of Its Parts
Sound Income Group's family of wealth management and insurance businesses have impressive track records of success and aggressive plans for future growth. 

Each of the three firms that comprise Sound Income Group address a critical professional inflection point and opportunity set for financial professionals who are, or seek to become, income specialists.

  • Sound Income Strategies is one of the country's fastest-growing independent RIAs exclusively focused on fee-based advisory income solutions. The firm is the destination for independent income specialists looking for comprehensive and turnkey advisor support experience. The firm also offers its income advisory solutions as a third-party asset manager to wealth management firms that want to deliver sophisticated income strategies to their financial professionals without the cost and complexities of building those capabilities organically.

  • The Retirement Income Store allows entrepreneurial financial advisors to provide personal retirement planning services to clients through a franchise model. The Retirement Income Store is a Field Marketing Office (FMO) that offers its franchisees a clear regional market, turnkey marketing programs and comprehensive support tools and resources to grow their businesses. By becoming a franchisee, advisors avoid the start-up issues and brand-building challenges of launching their own businesses. Clients gain a unique, time-tested and transformative approach to income generation and greater retirement security.

  • Advisors' Academy supports independent annuity producers in achieving elevated growth and success as income specialists for their clients. The firm simplifies the businesses of independent annuity producers by consolidating all their work on one platform while delivering customized coaching, mentorship and growth strategies. Advisors' Academy helps advisors obtain their series 65, teaches them how to manage fixed income and other income-generating investments and educates them on best practices for marketing, closing new business and operating efficiently.

New Executive Team
Several key executives with senior leadership experience from Investacorp and Merrill Lynch have been hired to help Sound Income Group execute its strategic growth plans and satisfy the investing public's need for innovative retirement income solutions.

To support its expanding staff and leadership team, Sound Income Group and its business units will move in October to a new 12,000-square-foot facility in Fort Lauderdale, Florida, headquarters as part of its strategic plan. The new office space will include a state-of-the-art broadcast studio with three sets and remote-feed capabilities.

The buildout of the company's executive team includes:

  • Patrick Farrell, President of Sound Income Group, a 35-year veteran of the financial services industry who previously held the titles of CEO, President, COO and CFO at Investacorp, owned by Advisor Group. He began his career as an accountant and CPA with Arthur Andersen & Co.

  • Rana Chander, Chief Operating Officer for Sound Income Strategies and Chief Technology Officer for Advisors' Academy, has more than 20 years of wealth management experience and was previously Chief Operating Officer and Chief Information Officer for Investacorp Inc. Prior to that he was Vice President of Global Database Technology for Merrill Lynch.

Mr. Scranton concluded, "I am excited to have such immense talent and experience join Sound Income Group's executive team. Patrick and Rana have been leaders in the wealth management space for decades and intuitively understand how to create exceptional advisor and client experiences and grow a business in this competitive industry. I look forward to collaborating with them to propel each of our units to the next level.

"Advisors' Academy, The Retirement Income Store and Sound Income Strategies have been operating in their own silos for years, even though their business strategies were intertwined. With a new holding company and headquarters that puts all our people under one roof, we can advance with a truly cohesive strategy that continues to drive excellence throughout each division."

About Sound Income Group
Sound Income Group is comprised of three full-service firms offering marketing, coaching, practice management, investment services, and franchise opportunities for the financial community. Learn more at

About Sound Income Strategies
Sound Income Strategies, LLC is a Registered Investment Advisory firm with more than $1.7 billion in assets under management. Sound Income Strategies' team of CFAs and portfolio managers actively manage client portfolios of individual, income-generating securities with the goal of maximizing income first, and opportunities for growth second. Sound Income Strategies' income-oriented business model has been proven to help advisors boost client retention during down markets. Learn more at

About The Retirement Income Store
The Retirement Income Store is a subsidiary of Sound Income Group, LLC. Although it was launched nationally in 2019, The Retirement Income Store's history goes back decades. Its founder's personal practice, Scranton Financial Group, has helped clients in the Westbrook, Connecticut area achieve retirement success through steady streams of income for nearly 30 years.

The Retirement Income Store is comprised of a national network of Income Specialists who help clients establish steady streams of income they can count on. The Retirement Income Store offers advisor partners low-cost franchise opportunities that allow them to enjoy the benefits of being backed by a national network, while maintaining their autonomy. Franchisees receive ongoing business support in operations, sales, marketing, accounting, and portfolio management. Learn more at

About Advisors' Academy
Advisors' Academy was founded in 2006 by David J. Scranton with a vision to recruit other highly successful and motivated advisors and teach them how to achieve even higher levels of success, while always keeping the interests of their clients first. Through one-on-one coaching on David Scranton's proven Sales Process, along with marketing strategies designed to help advisors attract new business, and a PR program that helps get its top advisors guest appearances on some of America's leading financial news networks, hundreds of advisors across the country now share in the realization of Dave Scranton's vision. Learn more at

Investment advisory services offered through Sound Income Strategies, LLC, an SEC Registered Investment Advisory firm. The Retirement Income Store, LLC and Sound Income Strategies, LLC are associated entities.

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SOURCE Sound Income Group