People moves
Ritholtz Wealth Management (RWM)
The registered investment adviser (RIA) firm has named Jay Tini as president.
Tini will join RWM on 1 January 2023.
He was previously a divisional sales manager at Vanguard.
First Republic Bank
The private bank and wealth management company has hired an eight-person team led by Jeremy McChesney, Marci Rosenfeld, Jim Morehouse, Todd Duncan, and Jessica Huang.
McChesney, Rosenfeld, Morehouse and Duncan and were each named managing director and wealth manager.
Huang was named vice president and wealth manager.
The team join from Wells Fargo.
Veris Wealth Partners
The wealth management firm has named Sheryl Kucer as chief operating officer.
She most recently served as chief operating officer and chief compliance officer at Dyson Capital Advisors.
Raymond James
Financial adviser Josh Colwell has joined the firm from Edward Jones.
He is the founder of CoWealth Advisors, and is joined by office manager Stephanie Harris and client service associate Patricia Taylor Marts.
Elsewhere, Raymond James has hired Steven Schmitt and Terence Belfor from Morgan Stanley.
As The Schmitt Group of Raymond James, the advisers are joined by senior investment portfolio analyst Valerie Vinbaytel, practice business manager Cassandra Biehl and practice marketing associate Anthony Corcella.
Lastly, Raymond James has hired Jay Weideman from Edward Jones.
Weideman leads Wealthness Financial and is joined by Margaret Osborne, client service director.
Arnerich Massena
The Portland-based independent advice firm has appointed Matt Sampson as a senior investment adviser.
Sampson previously served at Ferguson Wellman Capital Management and First Republic Bank.
M&A
Rothschild & Co
The financial services giant has sold its two asset management businesses in North America to the subsidiary of Wintrust Financial Corporation for an undisclosed sum.
Great Lakes Advisors has agreed to purchase Rothschild & Co Asset Management US and Rothschild & Co Risk Based Investments, which are collectively Rothschild & Co Asset Management US.
Upon completion of the transaction, Rothschild & Co Asset Management US will merge into and operate its business as Great Lakes Advisors.
Choreo
The firm has agreed to buy Cherry Bekaert Wealth Management LLC (CBWM) for an undisclosed sum.
The acquired wealth firm is an entity affiliated with Cherry Bekaert Advisory.
In addition to the acquisition, Choreo and Cherry Bekaert Advisory will enter into a strategic relationship that will enable both firms to combine resources and align acquisition opportunities to further accelerate the growth of their respective businesses.
The transaction is expected to close at the end of the year.
Focus Financial Partners
The advice group has agreed to acquire Spectrum Management Group, a registered investment adviser headquartered in Indianapolis.
Spectrum serves a “select group” of high net worth families and professionals predominantly in the midwest, but also throughout the US.
The financial terms of the deal were not disclosed.
Wealth Enhancement Group
The independent wealth management firm has bought California-based BTR Capital Management.
BTR’s team of nine advisors and five support staff, led by president and chief executive John Stratton, oversee more than $1bn (£840m, €960m) in client assets.
The financial terms of the deal were not disclosed.
