M&A
Focus Financial Partners
The partnership of wealth management firms has agreed to buy Gavin Hockey Wealth Specialists, a registered portfolio manager and investment adviser based in Toronto.
The firm will join Focus’ global wealth management subsidiary Connectus Wealth Advisers (“Connectus”).
The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions, and financial terms were not disclosed.
Gavin is an independent, multi-family office that provides financial planning, investment and business management services to professional hockey players in Canada and the US.
Cresset Asset Management
The firm has partnered with Asset Management Advisors, a family office based in Houston and founded by Lynn Mathre.
Asset Management Advisors offers wealth management services to high net worth individuals, families, trusts, and foundations
The terms of the deal were not disclosed.
Hightower
The advice group has acquired Farr, Miller & Washington, a wealth management firm based in Washington, D.C.
Farr, Miller & Washington’s president and chief executive is Michael Farr, who will take on a broader role as Hightower chief market strategist collaborating with the firm’s investment solutions.
Founded in 1996, Farr, Miller & Washington has 20 employees, including 13 investment professionals focused on serving affluent clients and institutions.
The financial terms of the deal were not disclosed.
iM Global Partner
The global asset management network has bought a non-controlling 45% stake in Richard Bernstein Advisors (RBA).
RBA is a New York-based asset allocation specialist founded in 2009 by Richard Bernstein.
The financial terms of the deal were not disclosed.
Mariner Wealth Advisors
The US wealth advisory firm has bought California-based Channel Islands Group for an undisclosed sum.
It is the firm’s 26th acquisition.
Channel Islands Group will assume the Mariner Wealth Advisors name when the deal closes on 31 August.
GenXFinancial
The wealth management firm specialising in succession planning has acquired Boston Partners Financial Group for an undisclosed sum.
Boston Partners Financial Group, led by Mark Marroni for more than 20 years, is a New England-based financial advisory firm.
Following the close of the transaction, Marroni will continue to lead his own ensemble practice affiliated with GenXFinancial and will operate under the Boston Partners Financial Group brand.
GenXFinancial’s largest and core business, Innovative Financial Group (IFG), was founded by industry veterans Brian Heapps and Robert Mitchell in 2017. In addition to IFG, GenX also includes MyRemoteFA and SellMyFinancialPractice.
Both firms are part of the Advisor Group.
People moves
Insigneo
The Miami-based independent broker-dealer and registered investment advisory firm has hired Jorge Sonville as managing director.
He joins from Merrill Lynch.
Rebalance
The wealth management firm has named Sonja Breeding vice president of investment advice.
She joins from Homewood Capital Management, where she spent over 13 years as a financial planner and adviser.
BNY Mellon Wealth Management
The firm has appointed Jeremy Gonsalves as national director of portfolio management.
Gonsalves joined BNY Mellon in 1992 and most recently served as a managing director for portfolio management for the New England region.
Brown Wealth Management
Christopher Pegg has been named as the firm’s director of wealth planning.
For the past decade, Pegg has served as senior director of wealth planning for Wells Fargo’s western region.
Wilmington Trust
The wealth management services provider has named Dana Dotoli as a wealth adviser.
Prior to joining Wilmington Trust, Dotoli was a senior relationship manager at HSBC Private Bank.
