Asset Management

Sequoia Financial Group Buys AltruVista

By Amit Chowdhry ● Apr 10, 2024

Sequoia Financial Group, a leading SEC-registered wealth manager with over $18 billion in assets under management as of March 31, 2024, announced it had acquired AltruVista, an SEC-registered investment advisor offering independent and holistic financial planning and asset management services to high-net-worth clients. The financial terms were not disclosed.

UBS Private Wealth Management: William Wright And Matthew Hoffman Joining Firm In NYC Office

By Amit Chowdhry ● Apr 10, 2024

UBS Private Wealth Management announced that Private Wealth Advisors William Wright and Matthew Hoffman will join the firm in its New York City office, along with Senior Wealth Strategy Associate Audrey Kaus.

Sanctuary Wealth Adds To Leadership Team

By Amit Chowdhry ● Apr 8, 2024

Sanctuary Wealth has appointed former Wells Fargo and UBS executive Michael Goldfader as its new West Coast Regional Managing Director. Goldfader brings 33 years of experience as a financial advisor and senior field leader to his role and joins a deep bench of wirehouse executives who have brought their skills and strategic relationships to Sanctuary.

Goldman Sachs Acquires Stake In Private Credit Firm Kennedy Lewis

By Amit Chowdhry ● Apr 5, 2024

Kennedy Lewis Investment Management (a leading opportunistic credit manager) announced that Petershill at Goldman Sachs Asset Management had made a passive minority investment in the firm.

EP Wealth Advisors Acquires $1.2 Billion Wacker Wealth Partners

By Amit Chowdhry ● Apr 5, 2024

EP Wealth Advisors, a leading independent registered investment adviser (RIA) with an expanding national presence and client base, announced it had acquired Wacker Wealth Partners. This partnership with the San Luis Obispo, California-based firm expands EP’s presence in California to the state’s Central Coast and adds nearly $1.2 billion in assets under management.

Kovitz Brings In $4.5 Billion Strategic Wealth Partners

By Amit Chowdhry ● Apr 5, 2024

Focus Financial Partners, a leading partnership of fiduciary wealth management firms, announced that it has entered into a definitive agreement under which its partner firm Strategic Wealth Partners Group (SWP), based in Deerfield, Illinois, will formally join Focus “hub” firm Kovitz Investment Group Partners. Subject to customary closing conditions, this deal is expected to close in the second quarter of this year.

GoldenTree Asset Management: $1.3 Billion In Commitments Closed For Third CLO Equity Fund

By Amit Chowdhry ● Apr 5, 2024

GoldenTree Asset Management (a global asset management firm with over $54 billion in assets under management) announced closing $1.3 billion in commitments on its third CLO strategy (GLM III). GLM III continues the GoldenTree Loan Management (GLM) program that started in 2016, bringing aggregate commitments across the entire GLM program to over $2.625 billion.

Stratos Wealth Advisors Adds $500 Million Reno Tahoe Wealth Management Team

By Amit Chowdhry ● Apr 5, 2024

Stratos Wealth Advisors (a part of Stratos Wealth Holdings) announced it has successfully recruited a senior team of wealth managers from RBC Wealth Management who will establish the firm's first Northern Nevada office. The team will use Fidelity as their primary custodian.

tru Independence Launches Mindset Wealth Management

By Amit Chowdhry ● Apr 5, 2024

tru Independence, a national independent advisory platform servicing about $12.5 billion in assets, announced the launch of Mindset Wealth Management. And the launching of the new Indianapolis-based registered investment advisor (RIA) continues tru’s strong momentum, after the firm successfully onboarded six new advisory teams last year, collectively representing over $4 billion in assets.

Clearstead Advisors Acquiring Wilbanks Smith And Thomas

By Amit Chowdhry ● Apr 5, 2024

Leading registered financial advisor (RIA) Clearstead Advisors has acquired the assets of Wilbanks Smith and Thomas Asset Management (WST), a Norfolk, Virginia-based wealth and investment management firm with over $5 billion of assets under management. This combination continues Clearstead's growth trajectory and further consolidates Clearstead's position among the leading RIAs in the US.

Raymond James: $1.1 Billion Arizona-Based Advisor Group Joins

By Amit Chowdhry ● Apr 4, 2024

Raymond James & Associates (RJA) West Coast regional director Rick Sanchez announced that the firm has welcomed the team of three financial advisors and seven branch professionals at Pahnke Wealth Management Group of Raymond James to Raymond James & Associates (RJA) – which is the firm's employee advisor channel.

Sanctuary Wealth Brings In $700 Million Vincita Investment Partners Team

By Amit Chowdhry ● Apr 4, 2024

Sanctuary Wealth has welcomed Vincita Investment Partners, a firm based in Greensboro, North Carolina, with $700 million in client assets. Vincita Investment Partners' founders and managing partners, JJ Marus, CEPA, CPWA, CRPC, and Lauren Norris, CFP, CPFA, are the latest successful advisors to break away from a wirehouse and launch a firm on Sanctuary's Partnered Independence platform.

Sequoia Financial Group Buys Investment Advisor AltruVista

By Amit Chowdhry ● Apr 4, 2024

Sequoia Financial Group (a leading SEC-registered wealth manager with over $18 billion in assets under management as of March 31, 2024) announced it had acquired AltruVista, an SEC-registered investment advisor that provides independent and holistic financial planning and asset management services to high-net-worth clients. The deal closed on March 31, and the financial terms were not disclosed.

LPL Financial: $250 Million Windward Wealth Advisors Team Joins

By Amit Chowdhry ● Apr 4, 2024

LPL Financial recently announced that financial advisors Erick Simonds, CRC, Eugene Sninski, II, and Lisa Sninski have joined LPL Financial’s broker-dealer, RIA, and custodial platforms. The team reported serving about $250 million in advisory, brokerage, and retirement plan assets and joined LPL from Wells Fargo Advisors.

UBS Brings In Michigan-Based The Bucher Group

By Amit Chowdhry ● Apr 4, 2024

UBS Wealth Management USA recently announced that a three-person team called The Bucher Group has joined the firm in Birmingham, Michigan. This father-son team, led by Financial Advisor Matthew J. Bucher and including Financial Advisor Matthew M. Bucher and Client Service Associate Christina Lynn Propst, focuses on providing tailored investment strategies and comprehensive wealth management advice for high-net-worth individuals and families.

Raymond James Adds $243 Million Financial Advisor

By Amit Chowdhry ● Apr 4, 2024

Raymond James Financial Institutions Division (FID) senior vice president and national director Stephen Kruchten announced that the firm has recently welcomed financial advisor Joseph Martinez to Pinnacle Asset Management (located at Pinnacle Financial Partners, a current FID-affiliated branch).

Wealth Enhancement Brings In $226 Million Piermont Wealth Management Team

By Amit Chowdhry ● Mar 30, 2024

Wealth Enhancement Group, a national independent wealth management firm with over $79 billion in client assets, announced the acquisition of Piermont Wealth Management, an independent RIA based in Boca Raton, Florida and Melville, New York. This team manages over $226 million in client assets and is led by the firm's Chief Executive Officer, Philip J. Capell.

WM Partners Reveals Investment Team Promotions

By Amit Chowdhry ● Mar 30, 2024

WM Partners, LP, a diverse-owned private equity firm certified by the National Association of Investment Companies, is focused on investing in lower-middle-market companies and driving value creation in the health and wellness sector. Today, it announced the promotions of several members of its investment team: Eli Minski to Principal, Jonathan Tarich to Senior Vice President, and Leon Lacs to Senior Associate.

UBS Wealth Management Forms $1.3 Billion Hartford-Based Stone Harbor Group

By Amit Chowdhry ● Mar 29, 2024

UBS Wealth Management USA announced the formation of Stone Harbor Group, a new team of Financial Advisors in its Hartford, Connecticut office. The nine-person team includes Financial Advisors Richard Cyphers, Gerald Dubey, Douglas Domian, Scott Mintz, David Sacharko, and Sean Siana, and Client Service Associates Aranzazu Suarez, Jake Heyde, and Christian Foxen.

Avantax Brings In $250 Million Texas-Based Financial Advisor Team

By Amit Chowdhry ● Mar 29, 2024

Avantax—a leader in tax-focused financial planning and wealth management—announced it has welcomed Heidi and Nicholas Irwin. The married advisors transferred to Avantax after many years of affiliation with Edward Jones, where the couple reported having managed over $250 million in total client assets as of March 20, 2024. The couple is joining current Avantax affiliate Alliance Wealth Strategies LLC.

Kestra Brings In $600 Million Borger Financial Services Team

By Amit Chowdhry ● Mar 29, 2024

Kestra Financial - an Austin, Texas-based industry-leading wealth management platform - announced the addition of Borger Financial Services (BFS) to its community of advisors. BFS’s financial professionals bring over $600 million in client assets under management to the platform.

Walter Global Asset Management Invests In Saranac Partners

By Amit Chowdhry ● Mar 27, 2024

Walter Global Asset Management (Walter GAM) announced an investment in Saranac Partners. This independent European multi-family office delivers personalized advice across a broad spectrum of wealth management services to help ultra-high-net-worth individuals and families deploy/access capital.

Raymond James: $750 Million Financial Advisor Lynette Ancona Joins

By Amit Chowdhry ● Mar 27, 2024

Raymond James’ Florida regional director for RJA, Tim Killgoar, has welcomed financial advisor Lynette Ancona, MBA, CFP, CWS, to Raymond James & Associates (RJA), the firm's employee advisor channel, in Winter Park, Florida. As senior vice president of wealth management, Ancona heads up Raymond James' Ancona Wealth Management and is joined by client service associate Stephanie Gisler, MBA.

Integrated Partners And WFY Partnering To Launch Wealth Management Unit

By Amit Chowdhry ● Mar 27, 2024

Integrated Partners, a national financial planning and registered investment advisory (RIA) firm managing over $12.7 billion in advisory assets, announced a new partnership with Wright, Ford, Young & Co. (WFY), Orange County, California's largest single-office accounting firm. This collaboration leads to the introduction of WFY Wealth Management.

Raymond James Adds $265 Million Financial Advisor Martin Lutschaunig

By Amit Chowdhry ● Mar 27, 2024

Raymond James has announced it has hired experienced financial advisor Martin Lutschaunig to Raymond James Financial Services (RJFS), the firm’s independent advisor channel. Alex David, Northeast division director for RJFS, revealed this executive hire. As the president of Lutschaunig Wealth Management in Yardley, Pennsylvania, Lutschaunig is being joined by branch manager Patricia Niles. Together, they serve various clients, including healthcare professionals, women investors, and retirees, with customized strategies and objective advice to help them achieve their financial goals. Lutschaunig, who comes from Janney Montgomery Scott, previously managed about $265 million in client assets.

KKR Forms Global Wealth Investment Council

By Amit Chowdhry ● Mar 27, 2024

Leading global investment firm KKR has launched its Global Wealth Investment Council (GWIC). Featuring ten experts from leading wealth management firms worldwide, the GWIC is designed to serve as a forum for constructive dialogue and knowledge exchange on macroeconomics, capital markets, asset allocation, and the role of private markets in individual portfolios.

Morgan Stanley Investment Management’s ETF Platform Surpasses $1 Billion In AUM

By Amit Chowdhry ● Mar 27, 2024

Morgan Stanley Investment Management (MSIM) announced it had completed the conversion of two fixed-income mutual funds to exchange-traded funds (ETFs). Through these two additions, MSIM introduced 14 ETFs since the launch of the ETF platform last year and has over $1 billion in assets under management (AUM).

Empower: Roger Hobby Named As EVP Of Personal Wealth Group

By Amit Chowdhry ● Mar 26, 2024

LPL Adds $580 Million Grafton Wealth Advisors Team

By Amit Chowdhry ● Mar 26, 2024

LPL Financial announced that financial advisors Sarah Grafton, William “Will” Grafton IV, CFP, CEPA, and Dexter Grafton, CPFA, CFA, launched a new independent practice, Grafton Wealth Advisors, through affiliation with LPL Financial’s supported independence model, LPL Strategic Wealth Services. They reported having served about $580 million in advisory, brokerage, and retirement plan assets and joined LPL from Merrill Lynch.

Rockefeller Global Family Office Brings In Pollock Salah Wealth Partners

By Amit Chowdhry ● Mar 25, 2024

Rockefeller Global Family Office (the wealth management division of Rockefeller Capital Management) announced the expansion of its Western Division with the addition of Pollock Salah Wealth Partners, co-located in Walnut Creek and San Francisco, California. The San Francisco Bay Area has one of the highest concentrations of ultra-wealthy individuals in the US.