July 18, 2024
In June, the financial advisor and acquisition market saw heightened activity with major firms like LPL Financial, Raymond James, and RBC Wealth Management completing several high-profile deals. This trend toward consolidation and expansion spanned various sectors, including technology, healthcare, and real estate. Financial advisors played a crucial role in facilitating these transactions, providing expertise in valuation, due diligence, and integration planning. Wealth Enhancement Group plans for a significant push in the second half of the year, aiming to capitalize on robust market conditions and investor demand.
One of the larger acquisitions this month, an eight-person advisory team has departed from Merrill Lynch to establish Alteri Wealth, a $1 billion Registered Investment Advisor located in Westlake Village, a suburb of Los Angeles. The team is led by co-founders Michelle Gruber and Alex Markowitz, who have over a decade of experience working together at Merrill Lynch Wealth Management. They are joined by Matthew Mullaly, another Merrill Lynch colleague, who will serve as senior vice president at Alteri Wealth. The firm's name, Alteri, is derived from the Latin root of the word 'altruism,' reflecting their mission. Alteri Wealth is dedicated to serving a diverse clientele, including business owners, doctors, athletes, entertainers, and creators. A key focus of the firm is advising women. The team aims to provide personalized wealth management services tailored to the unique needs of their clients. The team chose Charles Schwab to custody client assets.
One of the larger moves this month, Raymond James has acquired a team of seasoned financial advisors from Morgan Stanley, including Nick Takahashi, James Zapotocky, Joshua Yocam, Luka Vasiljevic, Michael Ortega, Stephen Ellingsen, Sean Tsaconas, and senior client service associate Yalda Momeni. This team, which managed approximately $1.3 billion at Morgan Stanley, will now operate as Takahashi Retirement Group in Las Vegas. The Takahashi Retirement Group specializes in serving corporate executives, pre-retirees, and retirees. Takahashi, the managing director, brings over 15 years of experience in the financial services industry. He started his career with Wachovia Securities and spent 11 years as a financial advisor at Morgan Stanley. Zapotocky and Tsaconas also have extensive experience, beginning their careers at Wells Fargo before transitioning to Morgan Stanley. Yocam worked at multiple firms before rejoining Morgan Stanley in 2018. Ellingsen, Ortega, and Vasiljevic started their careers at Morgan Stanley between 2016 and 2019.
In this article, we're reporting the transactions we saw so you are in the know. By the end of this, you'll have a better understanding of the shifts this past June.
Joe Sholden has joined Baird's private wealth management office in Fort Worth, Texas, as a Director and Financial Advisor. Previously managing over $195 million in assets at Wells Fargo, Sholden brings over 25 years of industry experience. Sholden began his career in the financial industry with Merrill Lynch in 1997, before moving to Wells Fargo in 2013. He holds a bachelor's degree in accounting from Southern Methodist University and has served on the Board of Directors for The Arlington Boys and Girls Clubs for 10 years. Sholden joins Baird, which has 12 branches in Texas, including offices in the DFW area. Baird's wealth management division now boasts nearly 1,400 financial advisors. Together, they manage over $290 billion in assets for clients nationwide.
RBC Wealth Management has added an advisory team with $855m in client assets to its office in Florham Park, N.J. The Taggart Group is led by managing director Michael Taggart. They were previously registered with JP Morgan. Taggart had been with JP Morgan for six years. Before that, he was a managing director at Merrill Lynch for 10 years and held the same position at Merrill’s US Trust for eight years. He is joined at RBC by senior business associate Dalia Bubbico, senior financial associate Jerry Azzollini and senior registered client associate Ria Taggart. The Taggart Group was one of three big advisory teams to join RBC last month.
Kestra has added Attain Wealth Partners, a financial professional team based in Zanesville, Ohio. Co-founded by Shakir Kaka and David Weinberg, Attain Wealth Partners brings over 40 years of wealth management experience. The team includes wealth advisors Bridget Tetak, Ross Weinberg, Sierra Brown, and Nazneen Kaka. They oversee $500 million in assets and specialize in portfolio management, retirement strategies, risk management, and estate strategies, primarily serving ultra-high-net-worth individuals. Attain Wealth Partners is known for its high-touch, tailored client approach to achieve long-term financial goals. By partnering with Kestra, the team benefits from a full-service support model, allowing them to focus on client relationships. Kestra will manage the firm’s transition to an independent business. Client assets will be custodied with Fidelity.
Pistone Wealth Advisors, RIA based in Pepper Pike, Ohio, has joined Stratos Wealth Advisors. The team is led by founder Karyn Pistone and consists of senior advisor Spencer Dieck, practice manager Linda Tekavec, and advisor David Taucher. Karyn Pistone has over three decades of experience advising clients in the Cleveland area. Her practice, previously affiliated with Beacon Financial Partners, focuses on wealth management, gifting and charitable strategies, estate, and business succession planning. She started her career helping physicians, professionals, executives, and business owners with retirement planning. Pistone Wealth Advisors provides innovative planning and investment platforms to a diverse client base. Karyn is a frequent local and national speaker on women and finance, investment strategies, generational planning, and retirement planning for baby boomers. She is also active in her community, serving on various boards and committees.
Financial advisors Todd Cousino, Nicholas Hawk and Charles Moyer have joined LPL to launch Cousino Wealth Advisors. The team, formerly with Ameriprise, reported managing approximately $265 million in assets. Based in Brownstown, Michigan, Cousino and Hawk have been collaborating since 2015, with Moyer joining in 2020. They offer comprehensive financial planning and wealth management, utilizing a bucket strategy to grow and preserve their clients' wealth. Moyer brings over 40 years of experience in the financial services industry, Hawk has 25 years of experience, and Todd boasts over 27 years in the field. Each advisor holds a variety of licenses.
UBS has added a five-person advisory team from Morgan Stanley, who managed over $470 million in client assets. This team, known as The BlueWater Group, is led by advisors Rory Lindquist and Donald Lawrence "Lawrie" Boyd, and have joined UBS in Boulder, Colorado. Lindquist, who ranked ninth in this year's Forbes Best-in-State rankings for Colorado, brings 24 years of experience. His career includes 13 years at Morgan Stanley and six years at Merrill Lynch, with earlier roles at Robert W. Baird & Co. and Strong Capital Management. Boyd, with 17 years in the industry, had been with Morgan Stanley since 2015, and previously worked at Northern Trust Securities and Ameriprise. The BlueWater Group also includes Senior Wealth Strategy Associate Caroline Lewis, Senior Registered Team Associate Sharon Hart, and Registered Team Associate Kyle Krajewski. The team is expected to continue providing top-tier advisory services from their new base in Boulder. Their combined experience and expertise will strengthen UBS's position in the region.
Stifel has recruited financial advisors Michael Lawyer and Edwin Turnquist in Portland, Oregon. They join forces with Lonn Ensing, who moved to Stifel's Portland office from D.A. Davidson in February as a producing Branch Manager. Together, they will operate as Mountain View Wealth Management. The team brings a combined 95 years of investment industry experience and previously managed $266 million in assets. Their support team includes Jennifer Doherty-Reilly, Client Service Associate. This addition strengthens Stifel's presence in Portland and enhances their advisory capabilities.
David Hilbig has joined LPL Financial, bringing approximately $275 million in advisory assets from Corebridge Financial, formerly Valic. To mark his transition to LPL, he has launched Lifetime Legacy Wealth Solutions, a name that underscores his commitment to helping clients secure their financial futures and support future generations. With over 20 years of experience, Hilbig specializes in creating personalized financial strategies for clients in The Woodlands, Texas area, and maintains an office in Mundelein, Illinois. He focuses on a holistic approach to financial planning, covering wealth management, retirement planning, investment advisory, and risk management. By thoroughly evaluating each client's financial situation and priorities, he aims to deliver comprehensive solutions tailored to their short-term and long-term goals.
Financial advisors Tim Woodall and Dustin Raring have launched Highway One Capital, an independent practice affiliated with LPL Financial. The team previously served approximately $500 million in advisory assets and transitioned from First Republic, now part of JPMorgan Chase. Based in Newport Beach, California, Tim Woodall and Dustin Raring have over 55 years of combined experience in the industry. Tim, who entered the wealth management field in 1999, has worked in the wealth management divisions of Merrill Lynch, UBS, First Republic, and JP Morgan, focusing on affluent families and creating sophisticated growth and income strategies. Dustin began his career in 1992 at Paine Webber and subsequently moved to Oppenheimer, UBS, Merrill Lynch, First Republic, and JP Morgan. He has extensive experience working with high-net-worth and ultra-high-net-worth individuals, families, and corporations, developing long-term client relationships. In 2012, they partnered to combine their complementary skill sets for the benefit of their clients. They are also supported by client service associate Taylor Ford.
Raymond James & Associates has welcomed financial advisor Michael Dempsey to its Farmington Hills, Michigan office. Dempsey, who previously managed over $200 million in client assets at Wells Fargo Advisors, is accompanied by senior registered client service associate Lorraine Lalicata. Operating as Dempsey Wealth Management of Raymond James, the team serves a diverse clientele including business owners, corporate executives, families, individuals, pre-retirees, and retirees. They are under the leadership of branch manager Alp Onder. With over 13 years of experience in the financial services industry, Dempsey is a Certified Financial Planner (CFP) and holds the Retirement Income Certified Professional designation. He earned a bachelor’s degree in accounting from DePaul University. Lorraine, who joined Raymond James in April 2024, was formerly a Senior Client Associate at Wells Fargo Advisors. Their addition enhances the capabilities of the Farmington Hills branch.
Raymond James Financial Services adds financial advisor Devona Benavidez. Benavidez joins ZeroThreeSixty Wealth Partners in Albuquerque, New Mexico, with branch associates Mackenzie Merony and Jacqueline Martinez. The team specializes in investment planning and discretionary portfolio management, focusing on retirement income distribution strategies. Previously with Wells Fargo, Benavidez managed over $115 million in client assets. With more than 15 years of industry experience, she serves as co-branch manager. Benavidez is dedicated to continuous education as a CFP professional and CDFA. She leads her team in providing comprehensive financial services, leveraging her credentials to assist clients in pursuing their long-term financial goals through personalized, comprehensive planning.
Financial advisor duo, Stephen Shevlin and Jonathan Joelner, have joined LPL Financial to launch 1818 Wealth Management. The team, previously with Stifel, Nicolaus, and Co., manages approximately $300 million in assets. Based in Swansea, Illinois, Shevlin and Joelner have a combined 50 years of industry experience and have worked together for nearly a decade. They serve a diverse client base across 30 states with a people-first approach. Their new brand, 1818 Wealth Management, reflects their pride in Illinois, the 21st state. Shevlin and Joelner emphasize open communication and client education in their financial planning process, involving clients in every step, even during difficult discussions. Their approach aims to set them apart in the industry.
Equitable Advisors has added a five-person team from Truist, managing $326 million in client assets. The team is led by Lori Brown and Jim Carroll, both with over two decades of experience, and operates under the name Star City Private Wealth. Brown has been with Truist Wealth and its predecessor, SunTrust Investment Services, since 2005. Carroll, active in financial services since 1994, holds the position of Senior Vice President at Star City Private Wealth Management. Based in Roanoke, Virginia, the team specializes in financial services, retirement planning, and investment management, using a holistic approach. The team also includes financial consultant Madelyn Brown, client service associate Michele Page, and client experience manager Sherry Minnix.
Raymond James has recruited the Hamilton-Withrow Group, a team of financial advisors from RBC Wealth Management. The team, now part of Raymond James' employee advisor channel, Raymond James & Associates, is based in Las Vegas. The advisors, Mark Ben Hamilton, Kerry Withrow, Ryan D'Souza, and Elliot Bloch, managed $729 million in assets at RBC. At RBC, they specialized in employee stock ownership plans. Hamilton, with 48 years in the industry, started his career in 1978 at Legel, Braswell Securities and had worked at Dean Witter Reynolds, Prudential Securities, PaineWebber, and other firms before joining RBC in 1998. Withrow, with 30 years of experience, first registered in 1994 at Smith Barney and had worked at Sutro & Co., RBC Dain Rauscher, and Wedbush Morgan Securities before joining RBC in 2005. D'Souza, with seven years of experience, joined RBC in 2018 after working at Ameriprise Financial Services. Bloch had two brief stints at RBC and also worked at UBS and other firms. The Hamilton-Withrow Group is at least the second team Raymond James has added from RBC in recent weeks.
LPL Financial has added financial advisor Tom Russell, along with his sons Brian and Charles Russell. With the transition, they have established Russell Wealth Partners. The family team, previously with Merrill Lynch, reported managing approximately $250 million in assets. They will operate from the Linsco suite at LPL’s San Diego campus. Tom Russell, with 38 years of industry experience, has a strong interest in market conditions and helping families achieve financial success. His sons, Charles and Brian, transitioned into wealth management after initial careers in engineering and law, respectively. Tom holds Series 7 and 66 licenses through LPL Financial and is a Certified Financial Planner. Brian, who also holds Series 7 and 66 licenses, is a Chartered Retirement Planning Counselor and actively contributes to the community, advocating for wildlife conservation. Charles also holds his Series 7 and 66 licenses, following in his father's footsteps in wealth management.
NewEdge Advisors acquires a team of Michigan-based financial advisors from Carson Wealth. Stonebridge Financial Partners, founded in 2004 and managing around $540 million in assets, will now operate under NewEdge. The team includes Founder Tim Bearden, along with partners Tyler Silverthorn, Evan Topor, and Taylor Maks, as well as three additional wealth advisors and 11 support staff. Tim Bearden has been in the financial services industry since 1989 and joined Carson Wealth in 2014. Tyler Silverthorn started in 2010 and moved to Carson Wealth in 2015. Evan Topor entered the industry in 2007 and joined Carson Wealth in 2018. Taylor Maks began his career at Carson Wealth in 2019. The team chose to move to NewEdge for greater flexibility in serving their clients. Stonebridge Financial Partners has offices in Troy and Grand Rapids, Michigan. Together, the team holds several prestigious designations, including CFP, ChFC, CIMA, and AIF.
Avantax Wealth Management welcomes Erin Hinzmann, who joined via Alliance Wealth Strategies LLC. Previously with Ameriprise Financial, Hinzmann managed around $120 million in assets as of May 2024. Erin Hinzmann joined Avantax Wealth Management via Alliance Wealth Strategies LLC, leaving Ameriprise Financial where she managed $120 million in assets. She sought Avantax for its broader range of investment products and advanced case design team support. Hinzmann values Avantax's high-touch service and overall support to grow her independent practice. Based near Austin, Texas, she has developed a loyal client base over 22 years with a practical, down-to-earth style, many of whom are now high-net-worth individuals. Her career began with Edward Jones before moving to Ameriprise Financial. Joining Avantax reunites her with Bryan Clegg, an Avantax financial advisor and partner at Alliance Wealth Strategies.
RBC Wealth Management has added a nine-person advisor team from Truist, managing $915 million in client assets. The team is led by Alexander Brown and William Brinkley, who will serve as managing directors. The duo leads the Brown-Brinkley Group and will be based in RBC's Tysons, Virginia office. They provide financial services to affluent families, non-profits, foundations, and businesses. Other members joining RBC include financial advisor Taylor Brinkley, Senior Business Associates Lane Thomas and Victoria Roberts, Senior Financial Associate Hunter Brammer, Registered Client Associate Carly Kacvinsky, and Client Associates John Kim and Jan Conner. The team collectively brings 63 years of advisor experience to RBC. William Brinkley began his career in 1968 with Thomas James Associates. He later joined First Union, where Alexander Brown started as an advisor in 2001. Brown and Brinkley worked together at Wells Fargo and Truist's predecessor firms Scott & Stringfellow and BB&T Securities. Taylor Brinkley registered with BB&T Securities in 2018.
Financial advisor, Scott Hengerer, has joined LPL Financial to James River Private Wealth. Hengerer, previously with Ameriprise, manages approximately $160 million in assets. Based in Lynchburg, Va., Hengerer began his career as a senior paralegal in securities class action litigation before transitioning to the financial services industry. With 26 years of wealth management experience, he specializes in asset management, retirement income strategies, and tax planning. Hengerer has developed a deep understanding of the investment world. His team now includes head of Financial Planning Operations Martha Kerr, client services manager Devin Burton, and paraplanner Breann Dooley. This team works together to positively impact their clients' lives through comprehensive financial services.
Raymond James has added financial advisor Anthony Losh who was previously with Ameriprise. Losh, who has been in the financial services industry since 1998, joins the firm's advisor channel in Stuart, Florida. With this transition, he launched Losh Wealth Management. Before joining Ameriprise in 2023, Anthony Losh had worked at four other firms and managed over $250 million in assets. Losh cited Raymond James' reputation for integrity, client-first culture, and comprehensive support and resources for advisors as key reasons for his move. He is joined at Raymond James by Financial Planning Consultant Julia Arrighi and Registered Client Service Associate Rene Quinones. In addition to his extensive experience, Losh holds the CFP, CRPC, and CRPS designations. This team transition is set to benefit from Raymond James' robust platform to better serve their clients.
Rockefeller Capital Management has added Zak Ammirato, a wealth advisor from UBS, and support staffer Megan Coborn to its San Francisco–based TA Wealth Partners. Ammirato, who managed over $500 million at UBS, brings 24 years of experience, including 15 years at UBS and starting his career with Salomon Smith Barney in 2000. TA Wealth Partners, comprising Rockefeller veterans Bruce Tenenbaum and Vice President Andy Lam, focuses on family office investment solutions, wealth preservation strategies, strategic investment solutions, and philanthropic planning. Tenenbaum, the team's most experienced member with 31 years in the industry, began as a broker with Montgomery Securities in 1986, worked at Goldman Sachs from 1993 to 2009, and joined UBS before moving to Rockefeller in 2019. Lam, who started his career in 2015 with UBS, adds a fresh perspective. Together, they aim to leverage their expertise to provide comprehensive wealth management services. Rockefeller has been actively recruiting advisors from major wirehouses this year, enhancing its capabilities and expanding its team.
Michael Cruz, a seasoned financial advisor, has recently transitioned from Wells Fargo to Ameriprise Financial, bringing with him $100 million in assets. He has joined Ameriprise's branch channel located in Temecula, California. Cruz's career in wealth management began in 1995, and over the years, he has worked with prominent firms such as Merrill Lynch and UBS before joining Wells Fargo in 2008. Cruz's move to Ameriprise was driven by his goal to expand his practice and better serve his clients' financial needs. He emphasized Ameriprise's robust commitment to investing in advisors as a pivotal factor in his decision, aiming to utilize these resources for his professional advancement. This shift reflects a broader trend, as other advisors from Wells Fargo in Pennsylvania and New Jersey have also recently moved to Ameriprise.
Financial advisor, Danielle Qualls, has joined LPL Financial with Bergkamp Financial. The team now consists of a five-person advisory team with the addition of Danielle. Qualls, previously with Stifel, manages approximately $160 million in assets. Originally from Kansas, Qualls transitioned from corporate accounting to wealth management in 1999. She focuses on multigenerational client relationships and building family legacies. Seeking team collaboration and independence, Qualls joined LPL to integrate her approach at Bergkamp Financial, a women-led firm aligning with her client-centric values and professional goals.
Scott Welch, a seasoned chief investment officer and co-founder of Fortigent, has recently joined Certuity, a Florida-based RIA, earlier this month. Welch has a history with Certuity, as it was one of Fortigent's first clients around 20 years ago. His previous roles include serving as CIO at Dynasty Financial Partners starting in 2015 for about four years, and more recently, as CIO of model portfolios at WisdomTree Asset Management. Welch has been a board member of Certuity Holdings, the parent company of Certuity, since 2020. His career transitions reflect a strong focus on investment management and strategic growth within the RIA sector. Overall, Welch aims to use his expertise to guide Certuity's expansion and enhance its market presence.
Raymond James has welcomed financial advisor Kevin Mize. Based in Scotts Valley, California, Mize will operate as Earthrise Financial within the independent advisor channel, and is joined by client service associate Sebastian Henshaw. They provide comprehensive wealth management services to a diverse client base, including business owners, multi-generational families, churches, and charitable foundations. Mize previously managed over $200 million in client assets at Morgan Stanley. He chose to join RayJay to align with the growing trend of independent firms in the financial services industry, finding Raymond James’ corporate culture and respect for independence a perfect fit. Mize brings 37 years of experience in financial services, with the last 23 years at Morgan Stanley. He holds a Bachelor of Science in commerce from Santa Clara University and is a CFP professional.
NewEdge Advisors has successfully recruited four seasoned financial advisors from JPMorgan to join its partner network. Erik Linstrom, Ben Roth, Shawn Stanley, and Kris Cawthon have collectively established Fortis Wealth Advisors, based in Dallas, under NewEdge. The team, while at JPMorgan, managed approximately $580 million in assets. Erik Linstrom began his financial career at Alliance Bernstein in 2005 before moving to J.P. Morgan in 2010. Before entering finance, he had a successful career with Coca-Cola Enterprises and Mobil Oil Corporation. Ben Roth brings over 35 years of financial services experience. He was previously a Managing Director and Wealth Advisor at J.P. Morgan. He also held Vice President roles at Alex, Brown & Sons, Paine Webber Jackson & Curtis, and Kidder, Peabody & Co. Roth specializes in providing high-net-worth families with customized financial strategies and solutions. Shawn Stanley, with 25 years of experience, joined JPMorgan in 2014, and Kris Cawthon, with 20 years of experience, joined JPMorgan in 2013. Fortis Wealth Advisors has selected Goldman Sachs' custody unit as their primary custodian.
LPL Financial welcomes the First Summit Capital Management's advisors to its platform, who are partnering with Momentum Wealth Partners. First Summit, based in Wilmington, DE, has approximately $380 million in assets, and they join from PNC Investments. Led by principal owner and Managing Partner Thomas J. Cooney, a financial services veteran with 32 years of experience, First Summit offers personalized investment strategies and comprehensive financial planning services. Cooney previously owned a successful forest products company, enhancing his business and strategic skills. Managing Partner Mark Freed, a former professional pitcher for the Chicago Cubs and Arizona Diamondbacks, brings over a decade of wealth management experience. He also holds CFP and CRC designations. The team is supported by Director of Operations Vicki Pearce. First Summit specializes in retirement planning, wealth management, and estate planning. They aim to provide tailored financial solutions to their clients.
Allworth Financial has acquired Stewart & Patten Company, a San Francisco-based RIA and investment manager with approximately $1 billion in assets under management. Stewart & Patten was established in 1965 by Jack Stewart and Ronald Patten. The firm has been managed in recent years by Robert Gentry, a former Franklin Templeton alum, and CPA Lori Sherman, who joined in 1997 and 2000, respectively. Gentry and Sherman will join Allworth as partners and advisors. They will be accompanied by five client support staffers. This acquisition marks Allworth’s 42nd office nationwide and its 17th in California. It is Allworth’s first RIA acquisition since January. The specific financial terms of the acquisition were not disclosed.
Corient Private Wealth has ended its seven-month silence on mergers and acquisitions by announcing its first RIA acquisition of 2024. The company has acquired Socius Family Office in Ft. Lauderdale, Fla., with the transaction closing on May 31. Socius Family Office managed approximately $915 million in assets under management as of the end of 2023. Prior to the acquisition, the company was owned by Alterna Financial, a private asset manager based in Delray Beach, Florida. The president of Socius Family Office is Mark Baniewicz, a former offensive tackle for the Jacksonville Jaguars. Baniewicz co-founded the RIA in 2004 after his NFL career was cut short by knee and triceps injuries. Baniewicz is joined by partners Matt Cassano and Mark Renz, who were also previously with Socius Family Office.
Beacon Pointe Advisors has acquired Joslin Capital Advisors, a $775 million Registered Investment Advisor based in Redmond, Washington. This marks Beacon Pointe's second acquisition of the year. Joslin Capital Advisors, established in 1999 by CEO Mike Joslin, serves a specialized clientele that includes physicians, physician group retirement plans, and non-profit medical associations, as well as families, retirees, and business owners. The acquisition allows Beacon Pointe, headquartered in Newport Beach, California, to strengthen its presence in the greater Seattle area, which is seen as a key growth market. Mike Joslin will join Beacon Pointe along with two advisors, Chris Bentley and David Monsees. Additionally, three client service and operations staff members from Joslin Capital will transition to Beacon Pointe. Beacon Pointe is actively seeking more advisors in this important growth market. The financial details of the deal, which closed on May 31, were not disclosed.
Lido Advisors has acquired Shore Morgan Young Wealth Strategies, a central Ohio RIA based in New Albany, managing approximately $615 million for over 450 clients. The acquisition is expected to finalize this month, although specific financial terms were not disclosed. Principals Lew Shore, Jon Morgan, and Marya Young will receive equity in Lido through the transaction. Shore Morgan Young Wealth Strategies employs 10 advisors and maintains a brokerage relationship with Lincoln Investment Planning. This acquisition aims to enhance Lido Advisors' service offerings and expand its presence in Ohio. Lew Shore founded his practice in 1974 and, with over 45 years in financial planning, has been pivotal for SMY clients. Jon Morgan began in 1989 and partnered with Shore in 1995 to form Shore Morgan Financial Advisors. With over 30 years in the industry and Series 7 and 63 registrations, he focuses on strategic financial planning. Marya Young joined in 2002, became a partner in 2004, and helped form Shore Morgan Young, LLC. With over 20 years in financial services and a background in private banking, she excels in wealth management and financial goal achievement.
Focus Financial Partners announced that five U.S.-based business lines within Connectus Wealth Advisers have joined The Colony Group, a Focus firm. The business lines are Atlas Private Wealth Management, Connectus Private, Hunt Valley Wealth, Mid-Continent Capital, and NEIRG Wealth Management. This transaction allows Connectus advisors and clients to benefit from Colony’s expanded services and deeper capabilities. They will gain access to Colony’s open architecture investment platform, in-house tax planning, and family office services. The move also brings senior-level talent to Colony, enhancing its expertise. Additionally, this strengthens Colony's presence in key markets, including Chicago, greater Baltimore, and South Florida.
Allworth Financial has acquired Del Monte Group, a boutique RIA based in Alamo, California, with approximately $220 million in assets under management. Founded in 1992 by Richard and Ingrid Del Monte, Del Monte Group was previously co-owned with president Angela Wright. As part of the acquisition, one other advisor and two support staff members from Del Monte Group will join Allworth. Angela Wright will not be joining Allworth in the move. The team will relocate to Allworth’s office in Walnut Creek, which was established in 2021 through the acquisition of Shone Wealth Management. This acquisition marks Allworth’s 18th advisor team in California and its 42nd in the United States. The specific financial terms of the acquisition were not disclosed.
Wealth Enhancement Group has acquired Atlas Fiduciary Financial, an independent RIA with offices in Sarasota, Florida, and Oakland, New Jersey. Led by Founder & CEO Laura Mattia and Partner & CIO Stephen Craffen, the team of six manages over $219 million in client assets. Established in 2020, Atlas Fiduciary Financial serves clients in Southern Florida, Northern New Jersey, and beyond, focusing on transparency and personalized financial solutions. The firm assists individuals preparing for and already in retirement, with a particular expertise in working with widows, professionals, and business owners. This acquisition brings Wealth Enhancement Group to 12 locations in Florida and five in New Jersey. The deal enhances Wealth Enhancement Group's presence and capabilities in these regions.
To see more financial advisor moves, RIA moves, or acquisitions, book a demo of Dakota Marketplace below and follow the investment industry movements everyday!
John Washington is the Data Research Analyst at Dakota.
