Washington Wealth Management launched an employee-owned financial service firm.

The Middleburg, Va., based registered investment advisory firm also hired a team of financial advisors from Morgan Stanley Smith Barney that collectively manage nearly $200 million in client assets. John Bouchard, Saundra F. Albrite-Bouchard and Julie-Anne Lewis represent the first team of financial advisors to join Washington Wealth, which Tony Sirianni and Ross Wilkinson launched earlier this month.

Washington Wealth Management was created to offer advisors the opportunity to break away from the wirehouses. The company said in a press release that when an advisor joins Washington Wealth, the advisor takes ownership of their business and has access to a variety of open architecture products and services to service high net worth clients.

“We’ve put our money where our mouth is and designed an entire business around how to provide the best wealth management services for the client today,” Sirianni said. “We feel the key to that is to put the advisor in a situation where they own their own business, are free of conflicts of interests, and are able to offer the best products and services that will allow them to attract high net worth clients.”

Mr. Sirianni continued, “Our goal is to create an independent branch network, allowing advisors to own their businesses, but also to allow them to become part of an organization and culture that values and encourages collaboration and idea sharing, where individual Clients and Advisors matter.  

Washington Wealth’s open-architecture platform currently includes brokerage and trading services from Mid Atlantic Capital Corp,