M&A
Carson Group
The wealth group has bought Louisiana-based financial planning company The Shobe Financial Group for an undisclosed sum.
The firm currently has over $500m ($409m, €463m) in assets under management, will continue to be led by partner and chairman Ed Shobe, and partner and president Jason Windham.
The Baton Rouge location will be the seventh wholly-owned Carson Wealth office in the US.
Mariner Wealth Advisors
The wealth advisory company it has acquired South Carolina-based Goldfinch Wealth Management for an undisclosed sum.
This is the firm’s first office in South Carolina and is Mariner Wealth Advisors’ fourth acquisition of the year.
Goldfinch Wealth Management serves approximately 225 clients with $221m in assets under advice.
Buckingham Strategic Wealth
The Focus Financial partner firm has bought Oregon-based Hausman Advisors for an undisclosed sum.
Hausman has been associated with Buckingham since 2012 through its partnership with Buckingham Strategic Partners, its affiliated turnkey asset management platform.
Wealth Enhancement Group
The wealth manager has bought California-based hybrid advice firm Prozan Financial Services for an undisclosed sum.
Prozan Financial Services oversees approximately $190min client assets and is led by founder Larry Prozan.
Ty J Young Wealth Management
The wealth manager has acquired California-based K Horton Financial for an undisclosed sum.
The acquisition will expand the presence of TJY on the west coast.
The transaction marks the 28th acquisition that Ty J Young Wealth Management has made in the past five years.
Wealthspire Advisors
The investment advice firm has agreed to purchase New York City-based wealth company Heron Financial Group for an undisclosed sum.
Founded as predecessor Heron Capital Management by president David Edwards in 1996, Heron Wealth provides financial planning, investment advice, and estate planning services to client families living in the US.
The transaction is expected to close early in the second quarter of 2023, subject to customary approvals and closing conditions.
New business
J Stern & Co
The London-headquartered investment firm has opened an office in New York office.
J. Stern & Co offers strategies in global, US, and European equities, corporate and emerging market bonds, and multi-asset investing.
Christian Picot and Ronald Dooley have been named as principals in the operation. Picot and Dooley were formerly members of the management committee of Stewart Asset Management, a concentrated long-only growth equity investment manager.
People moves
Angeles Wealth Management
The wealth management firm has hired Edward Lowndes as chief operating officer and chief compliance officer.
Before joining Angeles Wealth, Lowndes was chief operating officer at First Foundation Advisors, the private wealth management affiliate of First Foundation Bank.
Heller Private Wealth
The independent wealth management firm has launched as a registered investment adviser (RIA) firm headquartered in Fort Lauderdale, Florida.
It was founded Justin Heller formerly a vice president at Merrill Lynch.
Raymond James
Financial advisers David Gwidt and Paul Gwidt have joined the wealth firm.
The father-son advisor duo operates as Gwidt Wealth Management Group of Raymond James and is joined by senior registered client associate Geoff Grabiel.
They join from Wells Fargo.
UBS Wealth Management USA
Thomas Sheehan has joined the firm as a financial adviser.
He joins the UBS greater New England Market, managed by William Cholawa, and is based in the Providence, Rhode Island office, managed by Ryann Kilgore.
His team includes registered client service associate Katie Ranney, who provides clients with day-to-day account service support, including onboarding.
Sheehan joins from Merrill Lynch Wealth Management, where he was senior financial adviser and senior vice president.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has named Allison Chance Carter and Timothy Barton as managing directors and senior trust officer/trust counsel and senior portfolio manager, respectively.
They are based in Atlanta, Georgia.
Carter was most recently a senior trust adviser and senior vice president at Northern Trust in Atlanta. For the last 10 years,
Barton served as a senior portfolio manager and senior vice president at Northern Trust in Atlanta.
