People moves
EP Wealth Advisors
The registered investment adviser (RIA) firm has named Patrick Goshtigian as executive chairman.
Goshtigian is currently chief executive, a role which will be taken on by current president Ryan Parker.
The changes will take place on 1 July 2023.
Edelman Financial Engines (EFE)
The wealth firm has named Jay Shah as chief executive.
Shah will assume this role on 18 Aug 2023, as current chief executive Larry Raffone transitions to become chairman of the board while remaining a meaningful shareholder.
For the last 13 years, Shah helped grow wealth management firm Personal Capital. Since April 2017, he was the firm’s chief executive and guided its successful acquisition by Empower.
Wells Fargo & Company
Barry Simmons has joined the firm as head of national sales.
Simmons was most recently a managing director and head of the east division for JP Morgan Wealth Management.
MassMutual
The life insurer has named Paul LaPiana as head of brand, product and affiliated distribution, and Dominic Blue as head of third-party distribution and new markets.
In addition, Blue will become chief executive of MassMutual Ascend, while Mark Muething continues in his role as president of the annuities firm.
LaPiana has more than 20 years of experience in the financial services industry and has served as head of product for MassMutual since 2019.
Blue most recently served as head of third-party and D2C for MassMutual.
LaPiana and Blue’s appointments follow Mike Fanning’s decision to retire from MassMutual after a distinguished 37-year career devoted to the financial services industry – nearly half of which was spent with MassMutual.
Atria Wealth Solutions
The wealth management firm has recruited Edwin Milner, Laura Palacios and Jason Kurz from Flagstar Bank to Atria subsidiary Cadaret Grant.
Managing nearly $1.1bn (£880m, €1.02bn) in total client assets, they will be an independent wealth management team associated with Cadaret Grant’s branch – American Investment Planners, based in Jericho, New York.
Milner, Palacios and Kurz provide financial planning, retirement and private wealth management services to high net worth individuals, businesses and foundations.
RBC Wealth Management
Carmen Castro-Franceschi has joined the wealth manager as a managing director in its San Francisco office.
Castro-Franceschi was one of nine founding members of First Republic Bank.
Raymond James
Financial advisers Greg Sardzinski and Andrew Vanore have joined the firm in Greensboro, North Carolina.
As Sardzinski Vanore Wealth Management of Raymond James, the advisers offer financial planning and investment management strategies to clients, including business owners, corporate executives, sudden wealth recipients and individuals planning for or living in retirement.
They previously managed approximately $185m in client assets at Merrill Lynch.
Also, Raymond James has hired financial adviser David Weimer in Glenwood Springs, Colorado.
Weimer founded and leads Weimer Wealth Management, and his team includes senior client services manager, Julie Pelland, and client service associates, Lisa Weimer and Debbie Bethell.
Previously, the group was affiliated with Edward Jones.
Snowden Lane Partners
The independent wealth advisory firm has recruited Douglas Gill.
As the latest addition to the firm’s Riverstone Capital Wealth Group, Gill will be based in Snowden Lane’s Bethesda office and serve as a partner and managing director.
M&A
Dakota Wealth Management
The independent investment management firm has entered into an agreement to acquire Minnesota-based Stillwater Investment Management for an undisclosed sum.
James Tonrey Jr, founder and chief executive and investment officer of Stillwater Investment Management, joins Dakota Wealth along with his
Tonrey will join Dakota Wealth as senior managing director.
This is the first Minnesota office for Dakota Wealth Management.
Hightower
The wealth manager has made an undisclosed investment in Vigilant Wealth Management.
Vigilant is a wealth management business with offices in Portland, Maine and Portsmouth, New Hampshire and manages approximately $2.3bn in client assets across 500 households.
Founded in 2002, Vigilant currently has 31 employees, including 11 wealth advisors, and is led by its three co-founding principals: Jeffrey Carlisle, Daniel Mulkern and Scott Sorensen.
Arthur J Gallagher & Co
The insurance group has acquired Tennessee-based Bernard Benefits and Bernard Healthcare Financial Planning, subsidiaries of Bernard Health.
The financial terms of the transaction were not disclosed.
Bernard Benefits is a health and employee benefits brokerage firm with a focus on small group businesses in Tennessee, Indiana and Texas. Bernard Healthcare Financial Planning advises individuals and families on health insurance coverage.
Brian Tolbert, Matt Kleymeyer and their team will remain in their current location.
