Strive Asset Management Expands Into Financial Advice

Strive Asset Management, the ETF issuer founded by former presidential candidate and Donald Trump surrogate Vivek Ramaswamy, is expanding into the financial advisory business with a wealth management business based in Dallas.

Founded in 2022, Strive manages 13 ETFs that combine for $1.7 billion, and has made its mark in the highly competitive ETF space by carving out a niche with strategies designed around politically conservative values and policies.

The wealth management business, which is being partially financed through a $30 million investment by Cantor Fitzgerald, will include a focus on integrating Bitcoin into “standard portfolios of everyday Americans as a hedge against risks Strive expects to persist over the next several decades,” according to a company statement.

The expansion into the wealth management business is paired with the relocation of the company headquarters from Columbus, Ohio to Dallas early next year.

The wealth management business will be led by Gary Dorfman as president, and Randol Curtis as chief investment officer.

Ramaswamy, who rose as high as number three in the polls for the Republican presidential nominee, despite having no political experience, resigned from Strive before kicking off his presidential bid. He is currently working with Strive in an advisory capacity.

Strive representatives did not make anyone from the company available for comment, but in a prepared statement, Chief Executive Matt Cole said, “Strive is building a new-age financial institution.”

“Our focus on offering clients true financial freedom, through the thoughtful integration of Bitcoin, differentiates our wealth management business from nearly all major competitors today,” he added. “Our growth to date in asset management has been driven almost entirely by retail customers, and our expansion into wealth management will allow us to serve these customers more completely."

STRV, DRLL Anchor Strive Lineup

Strive’s ETF lineup is anchored by the $670 million Strive 500 ETF (STRV), which tracks a market-cap weighted index of U.S. companies.

Strive’s second-largest fund is the $309 million Strive US Energy ETF (DRLL), which tracks a market-cap weighted index of U.S. listed energy companies “without regard to ESG agendas.”