Business news
Trade Capital Holding
The wholly-owned subsidiary of investment firm has been granted a broker-dealer licence by Financial Industry Regulatory Authority (Finra) to operate in the US.
The US licence will enable Trade Capital Group, part of Trade Capital Holding, to bring the TRADE.com brand to the US.
Trade Capital Holding is already licensed to operate in the UK, Spain, Cyprus and South Africa and has a representative office in Dubai, UAE.
The group offers multi-asset brokerage including leveraged trading of over 2000 assets, share trading with over 120 exchanges, asset management and crypto trading.
M&A
Mercer Advisors
The advice firm has bought Michigan-based Vintage Financial Services for an undisclosed sum.
Frank Moore founded Vintage in 1985 and together with partner Jack McCloskey.
The entire Vintage team will be joining Mercer Advisors.
In other news, Mercer Advisors has acquired Georgia-based Resource Planning Group for an undisclosed sum.
It serves over 330 clients representing over $325m (£267m, €309m) in assets under management.
Husband and wife team John and Georgia Howard founded RPG in 1991.
The entire RPG team will be joining Mercer Advisors.
Bartlett & Co Wealth Management
The Focus Financial partner firm has agreed to buy Kentucky-based Regent Investment Management for an undisclosed sum.
The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.
Regent provides wealth and investment management services primarily to high net worth individuals and families.
The firm is led by three partners: Marty McClelland, Steve Naiser and Mary Jones.
Regent is the second acquisition Bartlett has made since joining the Focus partnership in 2018.
Waverly Advisors
The registered investment adviser (RIA) firm has acquired Wall Advisors for an undisclosed sum.
Wall Advisors was established in 1986 by H Lee Wall, president and founder. Wall Advisors’ team of four will join Waverly, with Lee Wall assuming the role of regional director.
People moves
SVB Financial Group (SVB)
Erin Platts has been appointed president of SVB Private.
Platts has been with SVB for more than 18 years, most recently as head of Emea and chief executive of Silicon Valley Bank UK, which recently incorporated as a standalone bank and SVB subsidiary under her leadership.
Crestone Capital
The family office has promoted Matt Wiles to president.
He was most recently the firm’s chief operating officer.
Cerity Partners
The wealth manager has hired Adam Hills as chief revenue officer.
Before joining Cerity Partners, Hills was managing director and head of corporate growth, strategy and partnerships in Goldman Sachs’ personal financial management (PFM) group.
BOK Financial
Carrie Clasen Porter has been named the new chief operations and administrative officer for the firm’s wealth management division, effective 1 April 2023.
Clasen Porter began her career with BOK Financial in 2008. Most recently she served as director of investment management strategic initiatives.
Oppenheimer & Co
The wealth manager has named Kevin Monaco as managing director and regional director for its private client division offices in southern California.
Monaco joins Oppenheimer from DA Davidson, where he held dual roles as complex manager for wealth management in southern California and community banking in multiple east coast locations.
Raymond James
Advisers Steve Doucette and Collin Habig have joined the firm in Plainville, Massachusetts.
At Doucette Capital, the advisers are joined by registered sales assistant, Louise Boissel.
Previously, the group was affiliated with Edward Jones.
