M&A
Hightower
The wealth firm has acquired Bel Air Investment Advisors from Fiera Capital Corporation.
Bel Air is based in Los Angeles and provides wealth management services and investment solutions exclusively to ultra-high net worth individuals, families, trusts and foundations.
The company has 43 employees, including 10 advisers.
This is Hightower’s “largest acquisition” in its 12-year history, according to the firm.
The financial terms of the deal were not disclosed.
Mercer Global Advisors
The national registered investment adviser (RIA) firm has acquired Georgia-based Kays Financial Advisory Corporation.
Kays serves approximately 700 clients.
Founder Scott Kay and his staff of 16, including five co-shareholders, will be joining the Mercer Advisors’ team.
The financial terms of the deal were not disclosed.
Also, Mercer Global Advisors has acquired Atlanta Financial Associates, a wealth management firm located in Atlanta, Georgia.
In all, 19 AFA team members will be joining the Mercer Advisors’ team.
The financial terms of the deal were not disclosed.
Rockefeller Capital Management
The financial services firm has agreed to acquire Illinois-based Whitnell & Co, a subsidiary of Associated Banc-Corp.
The firm offers wealth management, financial planning and multi-family office services.
Whitnell is Rockefeller’s second family office acquisition, following the addition of Silicon Valley-based Financial Clarity in 2019.
The financial terms of the deal were not disclosed.
IQ-EQ
The financial services firm has acquired Constellation Advisers, a US co-sourced and outsourced investment management services provider.
Founded by Boris Onefater, chief executive and co-founder, and Greg Farrington, president and co-founder, Constellation Advisers provides customised solutions to a range of traditional and alternative investment management firms.
The financial terms of the deal were not disclosed.
People moves
Chevy Chase Trust
The investment management firm has named Jeff Whitaker as president and chief executive.
He succeeds Peter Welber, who retires after 17 years at the helm of Chevy Chase Trust.
Prior to joining Chevy Chase Trust, Whitaker held a series of leadership positions in the investment management and wealth management industry. Most recently, he served as chief operating officer for client service and marketing at Bridgewater Associates.
BNY Mellon Wealth Management
Charmaine Tang has become senior client strategist at the wealth manager.
She was previously an executive director with JP Morgan Private Bank and the philanthropic market executive for the central and west regions at Bank of America Private Bank.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has hired Miles Powell as regional managing director and senior relationship manager based in Washington, DC.
Powell was senior vice president and market trust executive at Bank of America Private Bank.
Advisor Group
The US network of independent wealth management firms has hired James Keller, a solo financial professional based in Allen, Texas.
Keller will join Advisor Group through its subsidiary and network member firm Woodbury Financial Services.
Raymond James
The firm has hired financial advisers Randy Campbell, Eric Johnson, Mason McGiboney and Stacy Womack to its offices in Franklin, Tennessee.
The team, which includes registered client service associate Elizabeth Wood, operates as Campbell Johnson McGiboney Wealth Advisors (CJMWA) and joins Raymond James from Morgan Stanley.
