M&A
Creative Planning
The registered investment adviser (RIA) firm has bought Wipfli Financial Advisors, the wealth management and investment advisory affiliate of Wipfli, for an undisclosed sum.
Wipfli Financial Advisors has $5bn (£4.14bn, €4.92bn) in assets under management and brings 95 employees into the Creative Planning fold, including the firm’s chief executive Jeff Pierce.
Wipfli will maintain a significant minority ownership stake in the venture.
The transaction includes Wipfli Financial Advisor’s digital investment solution, Avid, as well as its retirement plan services group.
They will complement Creative Planning’s recent acquisition of Lockton Retirement Services and its wealth division.
Equitable
The financial services company has acquired RIA firm Penn Investment Advisors (PIA) for an undisclosed sum.
The acquisition is expected to close in the fourth quarter of 2022.
Headquartered in Bucks County, Pennsylvania, Penn Investment Advisors has $600m in assets under administration and serves 950 clients.
As part of the transaction, PIA president Christian Wagner, chief operating officer Sean Schmid, and PIA’s team of financial advisers will join Equitable.
Apollon Wealth Management
The wealth management solutions firm has acquired Westside Wealth Management in Los Angeles, California and Nashville, Tennessee.
The team was formerly associated with Raymond James.
The Westside Wealth Management team is led by Seth Radow, Luke Dillon and Kirk Aguer.
The financial terms of the deal were not disclosed.
Spartan Wealth Management
The wealth manager has merged with UBS Financial Services team 360° Wealth Management Group.
Led by Joseph Mansoor and Anthony Mona, the former UBS team will help Spartan Wealth Management’s staff grow by 20%.
With the merger, Mona becomes president of Spartan Wealth Management.
Fairport Wealth
The Ohio-based Hightower subsidiary Fairport Wealth has merged with a Buffalo-based team led by Brian Geary.
It would bringing Fairport’s total AuM to $3.3bn.
The business will operate in Buffalo under the Fairport Wealth brand name. Prior to joining Fairport, the team operated as part of Linwood Investment Advisors in Buffalo.
People moves
Schroders
The global asset manager has made changes to its American distribution team.
Tiffani Potesta will be taking on the role of head of US distribution, overseeing strategy and implementation for distribution across regions.
Potesta will continue serving in her current role as chief strategy officer, in which she oversees marketing, product and sustainability.
Mike Swinney has joined Schroders as consultant relations director. He was most recently a consultant director at Thompson, Siegel & Walmsey.
RBC Wealth Management
The wealth manager has hired father-son financial advisor team to its Palm Beach Gardens office from Merrill Lynch.
The Lansat Wealth Management Group includes:
- Joel Lansat, managing director and financial adviser;
- Jeremy Lansat, managing director and financial adviser; and
- Debra Collins, senior investment associate.
Raymond James
Financial adviser Robert Diaz has joined the firm in Alton, Illinois.
Diaz is joined at Confluence Wealth Management by practice business manager Jack Hoelscher and client service manager Jennifer Mobley.
Diaz was previously affiliated with Edward Jones.
Rockefeller Capital Management
The financial services group has hired advice team The Hassan Group to its global family office operation.
Led by Richard Hassan, managing director and private wealth adviser, The Hassan Group includes Matthew Holbrook, senior vice president and private wealth adviser, and Gina Valle, associate vice president and private wealth management director of operations.
The Hassan Group was previously with Alex Brown, a division of Raymond James.
Also, Rockefeller has recruited theUgroup to its southeast division.
TheUgroup includes John Uriostegui, Rod Nakamoto, David Sassen, and Regina Monroe.
