M&A
Insigneo Financial Group
The wealth management group has received a $100m (£81m, €95m) investment from Bain Capital Credit and J.C. Flowers & Co with participation from private investors.
The capital will be used to accelerate Insigneo’s growth and expansion strategy.
Headquartered in Miami, Florida, Insigneo operates as an registered broker dealer and registered investment adviser.
The company also offers services through locally-regulated advisory firms in Montevideo, Uruguay; Buenos Aires, Argentina; and Santiago, Chile.
Creative Planning
The wealth firm has acquired Rosen Capital Management for an undisclosed sum.
Rosen Capital Management will brings two employees into the Creative Planning fold, including the firm’s chief executive, Glenn Rosen.
Mariner Wealth Advisors
The wealth advisory firm has agreed to buy Corbenic Partners for an undisclosed sum.
It will be Mariner Wealth Advisors’ sixth office in Pennsylvania.
Corbenic Partners was founded over three decades ago by Brad Griswold.
The firm will assume the Mariner Wealth Advisors name as part of the deal.
It will continue operations as before with its current team of eight in place. This will be Mariner Wealth Advisors’ 74th location nationwide.
Lido Advisors
The wealth management firm has acquired California-based Enterprise Trust & Investment Company.
Founded in 1995 and based in the Greater San Francisco Bay Area, ETIC provides clients with trust, fiduciary, and investment management services.
The financial terms of the deal were not disclosed.
Focus Financial Partners
The wealth firm has acquired Texas-headquartered Icon Wealth Partners.
The firm provides a wide range of services to its clients, including investment advisory, investment management and financial planning as well business strategy/exit planning and tax and estate planning services.
The financial terms of the deal were not disclosed.
People moves
First Republic Bank
The private bank and wealth management company has hired Vishal Bakshi as a managing director and wealth manager in New York.
Before joining First Republic, he was a managing director at Merrill Lynch Private Wealth Management.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has hired Peter Niedland, CFA as a managing director and senior portfolio manager based in its Radnor office.
He joins Fiduciary Trust International from Maplewood Capital, an event-driven investment firm, where he served as a principal.
In other news, the firm has hired Abby Axelrod as philanthropic director for family office services, foundations, and endowments.
Axelrod served as director of charitable giving at the Community Foundation for Palm Beach and Martin Counties.
BNY Mellon Wealth Management
The wealth giant has named Tom Assad as senior client strategist.
Tom joins BNY Mellon Wealth Management from Wells Fargo Private Bank, where he served as senior vice president and wealth adviser.
Coldstream Wealth Management
The advice firm has appointed Natalie Straub as chief revenue officer.
She recently served as director and senior business management consultant at Schwab Advisor Services.
RBC Wealth Management
Charles Cannon has joined the firm as senior vice president and financial adviser
He joins from Wells Fargo and will work from a satellite office in Memphis until a permanent branch is built.
Raymond James
Financial adviser Ron Deal has joined the wealth firm in its offices Ruston, Louisiana.
Deal comes to Raymond James from Wells Fargo Advisors (WFA), where he previously managed approximately $151m in client assets.
He is accompanied by senior client service associate Julie Guillot.
Deal and Guillot will operate as Deal Wealth Management of Raymond James.
In other news, Raymond James has hired financial advisers Steelman Ketchum, Shawn Roberts, Mark Sullivan and Michael Schulz in Columbia, South Carolina.
Together as Vision Wealth Advisors, the team provides wealth management and planning services to a range of clients including business owners, corporate executives, retirees, families and family offices.
They were previously affiliated with Wells Fargo where they collectively managed over $630m in client assets.
