M&A
CI Financial Corp
The Canadian firm has agreed to acquire 100% of the Roosevelt Investment Group, a New York-based registered investment adviser (RIA) that specialises in providing financial planning and wealth management services to high net worth families.
This acquisition marks CI’s 12th RIA since February 2020 and continues its rapid expansion in the US wealth management industry.
Roosevelt is led by co-chief executive Adam Sheer and David Sheer.
The financial terms of the deal were not disclosed.
First Merchants Corporation
The bank has agreed to acquire Indianapolis-based Hoosier Trust Company.
Established in 2001, Hoosier Trust Company provides trust and investment management services to clients in Central Indiana.
The financial terms of the deal were not disclosed.
People moves
Oppenheimer & Co
The wealth manager has hired the Mercado Group, a Miami-based practice led by financial advisers Luis Mercado and Chanttel George-Mercado.
The duo have joined the firm’s private client division from Morgan Stanley and will work out of its Miami branch office.
The firm serves high net worth individuals and families, as well as businesses, throughout the US and Latin America.
Spearhead
The wealth management solutions provider has named Sagar Dalal as managing director of advanced wealth planning.
Prior to joining Spearhead, Dalal was the senior vice president and associate general counsel of Momentum Advanced Planning.
Raymond James
The wealth firm has hired financial advisers Brian Derrick and Lori Derrick to its offices in Glendale, Arizona.
They join from Edward Jones and operate as Derrick Family Financial.
