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Realta Wealth, a hybrid broker/dealer and registered investment advisor platform based in Wilmington, Del., has hired alternative investments specialist Scott Smith as president, even as the CEO position remains vacant.
Realta hires Smith from consulting roles in financial services, including a recent position as a principal with Lamplighter Capital Advisors, a tax strategy firm, according to LinkedIn. He was formerly CEO and chairman of the board of FactRight, which performs due diligence and risk assessment for alternative investments.
In the new role, he will be tasked with strengthening Realta’s compliance and supervisory services, growing its alternative investment platform and increasing its advisor network.
Smith joins a firm influx at the top. Realta’s former CEO, Kevin Keefe, left in February to ultimately join the Independent Financial Group, and interim CEO and Chief Compliance Officer Elizabeth “Liz” Legacy left shortly after to join TradePMR.
The moves happened after Realta rebranded from its name of CoastalOne in early 2024 to expand its recruiting efforts under owner Orange Street Holdings. At the time, the firm reported having 160 advisors using its platform and overseeing $3.3 billion in client assets. The firm did not immediately respond to requests for an update on that figure or the status of its CEO search.
Smith has over two decades of experience in wealth management, broker/dealer operations and real estate capital markets. He directed Ameriprise’s alternative investment strategy early in his career, bringing private real estate into its advisor platform.
“Realta is at a pivotal moment, combining the entrepreneurial independence advisors’ value with the institutional-grade resources they need to thrive,” Smith said in a statement. “I am excited to work alongside our advisors, employees, partners and leadership team to deliver innovative solutions, deepen our compliance culture, and build a platform that positions Realta as the destination of choice for growth-minded advisors.”
Since the rebranding, Realta has named other new leaders, including Abbey Eastham from Cetera Financial as head of advisor relations. Shortly after the rebranding, it named former Avantax COO Mark Helliker as its COO.
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