People moves
IQ-EQ
The global investor services firm has hired Darrell King as director of private wealth in the Americas.
In this newly created role, King will be based in IQ-EQ’s New York office.
He was previously director of business development at Stonehage Fleming US.
Raymond James
John Carson will retire as president effective 31 December 2021, and remain with the firm as vice chairman to ensure a successful transition of responsibilities.
Carson will also step down as head of the fixed income and public finance divisions. Horace Carter, executive vice president of fixed income capital markets, will succeed Carson as president of fixed income and join the firm’s executive committee.
Also, the wealth firm has hired financial adviser Timothy Meek to its offices in Linton, Indiana.
Meek joins Raymond James from Edward Jones.
As Meek Financial Services, the team serves a variety of clients including business owners, retirees, families, women investors, endowments and foundations. He is joined by Deann Lehman, senior client service associate.
In other news, Raymond James has hired financial adviser Travis McIntosh. Based out of Sumter, South Carolina, McIntosh heads McIntosh Wealth Management of Raymond James. He was previously at Truist Wealth.
Also, the firm has hired financial advisers Steve Jumper, William Pettit, Tim Wilson and Joseph Logsdon to its operation in Texas.
Operating as Jumper & Associates Financial Services, Jumper joins Raymond James from Wells Fargo. With client service associates Carla Hancock and Marti Hall, the team is based in Texarkana, Texas.
Jumper has over 30 years of industry experience, beginning his career with Edward Jones prior to joining Wells Fargo in 2015.
Based in El Paso, Texas, Pettit joins Raymond James from Wells Fargo, where he previously managed $151m in client assets.
Logsdon and Wilson of Logsdon Wilson Wealth Advisors together managed approximately $295m in client assets at LPL Financial. Located in Lewisville, Texas, the team specializes in serving healthcare professionals, retirees, individuals experiencing sudden wealth, families and individuals.
Alex Brown
The Raymond James subsidiary has several client advisers in Miami, Florida.
Joining are client advisers Jose Diaz, Veronica Cereceda, Robert Dunn and Astrid Rodriguez all of whom were previously affiliated Wells Fargo.
They operate from the Miami office.
Consilio Wealth Advisors
Hao Dang will be joining the team as investment strategist.
He will be joining the company from the Financial Services Network, where he served as vice president of portfolio consulting since 2014.
Amundi US
The asset manager has named Annie Chor Joyce as head of ESG.
She joins Amundi US from MSCI, where she was vice president, ESG consultant.
UBS Wealth Management USA
Undra Johnson has joined the firm as a branch manager for the Canonsburg and Erie, Pennsylvania offices.
He joins UBS from Wells Fargo Advisors, where he was a financial advisor and premier manager.
M&A
Wealth Enhancement Group
The independent wealth management firm has agreed to join forces with Vivid Financial Management, a hybrid registered investment adviser (RIA) firm with three locations in California.
Vivid Financial Management’s six advisers collectively oversee $674m (£511m, €596m) in client assets.
The transaction will be Wealth Enhancement Group’s 16th of 2021 and raises its total client assets to $55.02bn.
Vivid Financial was founded in 2015, by Julie Darrah, Brad Boulton, Todd Woodland and Tim Miller.
With the addition of Vivid Financial’s three locations – in Orcutt, Lompoc and Arroyo Grande – Wealth Enhancement Group will have seven total offices in California.
The financial terms of the deal were not disclosed.
MAI Capital Management
The RIA firm has acquired Hochman Cole Investment Advisors for an undisclosed sum.
Based in Deerfield, Illinois, Hochman Cole provides retirement, financial planning and investment management services for high net worth individuals, families and business owners.
Hochman Cole was founded in 2006 by Joel Hochman and Philip Cole. Both Hochman and Cole, along with partner Michael Williams, and their entire staff will be joining MAI.
CI Financial
The Canadian firm has bought RIA firm RegentAtlantic Capital for an undisclosed sum.
Founded in 1982, RegentAtlantic serves high net worth individuals and families and institutions on the east coast and across the US from offices in New Jersey and New York City.
Emigrant Partners
The firm has made a strategic non-voting minority investment in Dallas-based Beaird Harris Wealth Management.
Pat Beaird, co-founder and managing partner of Beaird Harris, will retain full control of the firm.
The financial terms of the deal were not disclosed.
Focus Financial Partners
The wealth management firm has agreed to buy Virginia-based RIA firm Cassaday & Company for an undisclosed sum.
The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions.
Founded in 1993 by Stephan Cassaday, Cassaday & Company, Inc. provides comprehensive investment advisory, financial planning and wealth management services to high net worth individuals and families.
Cassaday & Company will continue to be led by Stephan Cassaday as chairman and chief executive, and Allison Felix as president and chief operating officer, together with the firm’s current leadership team.
Captrust Financial Advisors
The advice firm has bought Boston-based Rinet Company for an undisclosed sum.
Founded in 1974, Rinet has an offering for high net worth clients, as well as a suite of family office services.
The firm is led by Brian Rivotto, Gary Savage, and Rebecca Pouliot, who will be joining Captrust, along with 26 additional colleagues. Rinet brings more than $2.2bn in assets to the group.
Bluespring Wealth Partners
The wealth management firm has bought California-based Capital Planning Advisors for an undisclosed sum.
The firm is led by Jim Wilson, Larry Hansen, Michael Sollazzo, and Jason Bell.
Capital Planning Advisors is the second wealth management firm Bluespring Wealth Partners has acquired in California and fifth acquisition in 2021.
