Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

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Washington Wealth Management is losing its chief executive and co-founder Anthony Sirianni, who is leaving to pursue “other personal and professional interests,” the firm said.

Replacing Sirianni is Robert Bartenstein, who previously served as chief of firm strategy, according to a statement. He has 15 years of experience in the financial services industry.

In other recent developments, the Middleburg, VA-based firm took on an advisory group with $120 million in assets and $1.4 million in revenues from Wells Fargo at the start of May. Simultaneously, it launched an office in Los Angeles, CA.

Washington Wealth was launched in December 2010, with an office in Virginia. It has expanded to have seven offices, covering California, Nevada, Connecticut and Virginia. It operates as a Registered Investment Adviser, and all its advisors are part of an independent branch network.

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