M&A
Chesapeake Asset Management (CAM)
The registered investment adviser (RIA) firm has bought Cherry Lane Capital for an undisclosed sum.
Cherry Lane Capital is an RIA firm with offices in New York City and Boca Raton.
After an initial investment in 2020, CAM purchased the remaining shares of Cherry Lane Capital.
Cherry Lane co-founders Jesse Christensen and Ryan Berman will join Chesapeake as partners to lead the firm’s newly established wealth management division.
Creative Planning
The advice firm has bought Heritage Way Advisors for an undisclosed sum.
Heritage Way, which has $450m (£342m, €412m) in assets under management, is an Illinois-based wealth management firm.
Also, Creative Planning haas acquired Keystone Wealth Partners for an undisclosed sum.
Keystone has over $644m in assets under management, 29 employees and 13 financial advisers.
Adviser Investments
The firm has merged with Polaris Wealth Advisory Group to create a national financial planning advisory firm.
Together, Adviser and Polaris currently manage nearly $10bn in client assets.
The financial terms of the deal were not disclosed.
Simon Quick Advisors
The New Jersey-headquartered independent wealth manager has merged with RIA firm Red Hook Management.
The leadership and advisory staff of Red Hook Management will all join Simon Quick, bringing the combined entity to 68 total employees and approximately $5bn in assets under management.
The financial terms of the deal were not disclosed.
People moves
AssetMark
The wealth management and tech solution provider has appointed Christian Chan as chief investment officer.
Chan has over 25 years of investment experience in asset management, most recently at Allspring Investments.
Sandy Cove Advisors
The financial advisory firm has named Keiron O’Brien as managing director and senior client adviser.
Prior to joining Sandy Cove Advisors, he held a senior vice president position at Brown Brothers Harriman.
NewEdge Wealth
The RIA firm has appointed Robin Petty as managing director and head of wealth strategy.
Petty served as a managing director at Hawthorn, PNC Family Wealth, where she led the wealth strategy practice.
Raymond James
Financial advisers Keith Haller and Cory Shepard have joined the financial services firm from Edward Jones.
The Washington-based duo operate as Haller and Shepard Capital Group.
