People moves
NorthRock Partners
The financial advisory firm has partnered with recently-retired NBA star Tony Parker to lead its sports, artists and entertainment division.
It serves athletes, team owners, influencers, and other sports and cultural leaders.
In his role as president of NorthRock Sports, Artists and Entertainment, Parker will work alongside an advisory team that consults professional athletes, artists and entertainers to create wealth strategies.
Previously a NorthRock Partners client, Parker announced his retirement from the NBA on June 10, capping an 18-year career.
BMO Wealth Management
Shannon Kennedy has been appointed global head of BMO Family Office, the newly rebranded ultra-high net worth division.
Kennedy will lead the global build-out of BMO Family Office with a team of more than 200 professionals.
She joins BMO with 30 years of wealth management experience, most recently with BNY Mellon Wealth Management, where she served as president, US markets-southwest.
Prior to that, she was director of global family and private investment offices at Northern Trust in Chicago, where she began her career.
Fiduciary Trust Company International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has named Bryan Kirk as director of financial and estate planning.
In his new role, Kirk will work with Fiduciary Trust professionals, as well as clients, to offer services on a range of matters; including tax and transaction planning, wealth transfer strategy, philanthropy, and family education and governance.
Kirk joined the firm in June 2015 as managing director and trust counsel based in San Mateo, California.
Prior to Fiduciary Trust, Kirk was a partner at San Francisco-based Botto Law Group, where he specialised in estate planning, trust and estate administration, and tax-exempt organisations.
The Colony Group
The partner firm of wealth management group Focus Financial has hired Kathryn Collings as a senior wealth adviser.
She will be serving clients out of Colony’s Boston and Maryland offices.
Collings has provided wealth and investment management services to professionals, academics, executives and entrepreneurs for over 20 years.
Fieldpoint Private
Robert McCabe has become managing director and branch office manager at the private banking boutique’s Palm Beach, Florida office.
McCabe will lead Fieldpoint Private’s growth initiatives in Palm Beach and across south Florida.
Most recently, he led the firm’s West Palm Beach branch of 60 advisers and 24 associated staff.
Legacy Capital
The Arkansas-based wealth management firm has appointed Robert Roberts as chief operating officer.
Prior to Legacy Capital, Roberts joined Baptist Health in 1988 as assistant vice president of finance and eventually became executive vice president and chief financial officer.
Avalon Investment & Advisory (Avalon)
The registered investment adviser has hired Jason Danziger as director and wealth adviser and Andrew Kirby as director of client development.
Most recently, Danziger worked in family office services at Goldman Sachs, assisting ultra-high net worth families and their accountants on estate and tax planning, philanthropic giving, risk planning and other solutions.
Prior to Avalon, Kirby was at BNY Mellon, where he was a wealth director, having also worked at investment manager Manning & Napier as a client consultant.
M&A
MAI Capital Management (MAI)
The independent registered investment adviser has acquired MTX Wealth Management (MTX).
The deal will increase MAI’s assets under management by over $400m (£315m, €353m). Financial and legal terms of the deal were not disclosed.
Located in Reston, Virginia, MTX is a full-service financial and investment adviser to high net worth individuals including professional athletes and entertainers.
The founder and president of MTX, Steve Trax, will continue to oversee the office as MAI regional director.
The firm will also consolidate the advisers who assist professional athletes and coaches into a dedicated service group, branded MAI Sports.
MAI has its roots in serving sports-industry clients, as the firm was founded over 45 years ago on a “handshake deal” with legendary golfer Arnold Palmer.
Trax will assume the role of managing director at MAI Sports, working alongside MAI’s John Palguta, managing director, to lead the firm’s expanded sports-focused business unit.
This is MAI’s third acquisition since taking a minority investment from WPCG, a financial services holding company, in July 2017.
MAI also bought the wealth management division of Calfee Financial Advisors last year and the wealth management division of CCI Financial Group in April.
Stratos Wealth Advisors
The firm has acquired Veritas Boston Wealth Management, which has assets of $250m.
It will join Stratos’ network of independent financial advisers.
Based in Maryland, Veritas includes a team of four advisers, Mark Roman, Francis Perfetuo Jr, Kevin Dufault, and Timothy Duggan.
Managing partner Roman spent 25 years at Merrill Lynch as senior vice president, prior to joining Stratos.
The financial terms of the deal were not disclosed.
New business
Crestbridge
The independent fiduciary, administration, accounting and professional services provider, has opened its sixth global office, in New York.
The operation complements Crestbridge’s existing network in London, Luxembourg, Bahrain, the Cayman Islands and Jersey.
It will provide North American family office clients access to its international team of experts and it will be a representative office initially focused on connecting existing clients and intermediaries with the group.
It will be headed by director Adam Zivitofsky, who has over 25 years of experience in the financial services industry.
Prior to joining Crestbridge as a consultant in 2017, Zivitofsky worked most recently in business development at SS&C a technology firm that provides investment management products.
