M&A
Hightower
The wealth firm made a strategic investment in New York-based Siller & Cohen Family Wealth Advisors.
Founded in 1988 by Randy Siller and Jeffrey Cohen, the group serves entrepreneurs and business owners, C-suite executives, and other high net worth and ultra-high net worth individuals and families.
This is Hightower’s third transaction in 2021, following nine in 2020.
The financial terms of the deal were not disclosed.
Wealth Enhancement Group
The independent wealth management firm has acquired of Reby Advisors, an independent registered investment adviser (RIA) firm.
The transaction is expected to close in Q1, after which the practice will do business as the Reby Advisory Teams of Wealth Enhancement Group.
The financial terms of the deal were not disclosed.
Mercer Global Advisors
The RIA firm has acquired Pinnacle Wealth Solutions, located in Midlothian, Virginia.
Pinnacle was founded in 1985 by G Carl Mahler Jr, focusing on delivering wealth management services to high net worth clients.
In all, five Pinnacle team members will be joining the Mercer Advisors’ team.
The financial terms of the deal were not disclosed.
Also, Mercer Advisors has bought Hart Capital Management, a wealth management firm headquartered in Spokane, Washington with a satellite office in Coeur d’Alene, Idaho.
Hart was founded in 1998 by Craig Hart, president and chief investment officer.
The financial terms of the deal were not disclosed.
Arete Wealth
The RIA firm has agreed to acquire Center Street Securities.
The deal will grow Arete Wealth’s revenue by 40%.
The financial terms of the deal were not disclosed.
EP Wealth Advisors
The independent RIA firm has acquired NewFocus Financial Group.
Based in Vancouver and with an additional office in San Mateo, California, NewFocus was founded by Rob Black and Chad Burton.
The financial terms of the deal were not disclosed.
CI Financial
The Canadian firm has bought Chicago-based Segall Bryant & Hamill.
The financial terms of the deal were not disclosed.
It is the firm’s 14th acquisition since last January.
People moves
Rockefeller Capital Management
The wealth firm has hired The Faro and DBT Groups based in Boca Raton, Florida, and Chicago-based Bergman Wealth Management Group.
The Faro Group is led by Nelson Faro, managing director, private wealth adviser and portfolio management director, and also includes Forrest and Kyle Faro, joining as senior vice president, private wealth adviser and sports and entertainment director, and senior vice president and private wealth adviser, respectively.
The team also includes Rachel Baum, private wealth adviser, as well as Janet Kolmetzky and Eileen Cambero, both senior client associates. The team joins Rockefeller from Morgan Stanley Wealth Management.
Also in Boca Raton, The DBT Group is led by Marshall Duane, managing director and private wealth adviser, who is joined by Christopher Bell, senior vice president, and Thomas Tabor, vice president and private wealth adviser.
The team also includes Lisa Tarshis, associate vice president and senior client associate, as well as Mason Liu, analyst and private wealth adviser.
The DBT Group joins Rockefeller from Merrill Lynch Wealth Management.
In Chicago, The Bergman Wealth Management Group is directed by Richard Bergman, managing director and private wealth advisor, who is accompanied by Clayton Balko, vice president and private wealth adviser, Billie Danicek, associate vice president and senior client associate, and Matthew Oye, wealth management analyst.
The group joins from Merrill Lynch Wealth Management.
Bluespring Wealth Partners
The wealth firm has hired Alan Brum as vice president of internal business development.
Brum was previously at TD Ameritrade.
Raymond James
Financial advisers Chuck Crist, Chuck Gillingham and Ryan Jones have joined the firm in its St. Augustine, Florida office.
The trio join from BB&T Securities.
Joining them at Raymond James are senior investment portfolio analyst Mark Jones, senior registered client service associate Susan Dampier, and registered client service associate Amy Barrett.
The team operates as Veritas Wealth Management of Raymond James.
John Hancock Investment Management
The US subsidiary of Manulife Investment Management has made three hires in the distribution operation.
Andrew McFetridge has been named head of strategic relationships and investment specialists. Formerly co-head of US sales, he is now responsible for broader distribution objectives, including national accounts, investment consulting, education savings, exchange-traded funds, and separately managed accounts.
Darren Smith has been appointed the sole head of US sales, still reporting to Jeff Duckworth; formerly, he was co-head of US sales.
Kathleen Pritchard was recently hired in a newly created position of head of value add and will report to Katie McKay, head of sales enablement and distribution strategy.
Prior to joining John Hancock Investment Management, she was a partner at Purpose Consulting Group.
RBC Wealth Management
The wealth firm names Kurt Bakken as Rochester branch director.
He will oversee 11 advisers and 6 support staff for the branch and joins RBC from Wells Fargo.
Bakken replaces Byron Ellingson, who is stepping back into an adviser role.
FL Putnam Investment Management
William O’Brien and Corey Pomerleau have joined the firm as an investment adviser and private client adviser, respectively.
O’Brien most recently served as senior vice president and portfolio manager at Bank of America Private Bank, while Pomerleau joins from Boston Private Wealth, where he served as a senior client associate.
