People moves
Janus Henderson
Dick Weil is retiring as chief executive and as a member of the company’s board of directors, effective 31 March 2022.
The board has initiated an internal and external search process with the assistance of a leading executive search firm to identify a successor to lead Janus Henderson through its next phase of growth.
To ensure a seamless transition, Weil will remain in his role until March 2022 and assist Janus Henderson with an orderly transfer of responsibilities, serving as an adviser to the company through 30 June 2022.
Abacus Wealth Partners
Co-founder and chief executive Brent Kessel will step down from his role, effective 1 February 2022.
Kessel will remain with Abacus full-time, leading impact investment initiatives.
The wealth firm has named Mary Beth Storjohann, and Neela Hummel as co-chief executives.
Storjohann and Hummel previously served as chief marketing officer and chief advisory officer of Abacus, respectively.
First Republic Bank
The private bank and wealth management company has named Max Peckler as a managing director and wealth manager.
Before joining First Republic, he was a managing director and senior portfolio manager in wealth management at UBS.
Prime Capital Investment Advisors (PCIA)
Scott Duba has been named as chief investment officer and managing director for wealth management.
Prior to joining PCIA, Duba served as director and portfolio manager of investment team at Mariner Wealth Advisors.
Rockefeller Capital Management
The firm has bolstered its private wealth management arm with the addition of The Atlantic Group.
The team, originally part of Scott & Stringfellow and most recently a part of BB&T Truist, will have offices in Palm Beach, Florida and Bethesda, Maryland.
The Atlantic Group is led by managing directors and private wealth advisers Peter Clarke, Drew Karr and Neva Hagopian.
The team of eight joins from Truist Investment Services and includes vice president and private wealth adviser Jack Traxler, vice president of investment research Jack Mutchnik, and senior client associates Serena Burns, Caryn Minns and Natalie Smyth.
BNY Mellon Wealth Management
The firm has named Mandy Ho as senior director wealth manager.
She joins BNY Mellon Wealth Management from KeyBank.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has named David Edmiston as regional managing director of greater Atlanta to lead the office its newly created office.
He previously worked with Wells Fargo and predecessor companies Wachovia and First Union for 33 years.
M&A
Beacon Pointe Advisors
Private equity firm KKR has made an investment in the California-headquartered advice firm.
The Beacon Pointe team will continue to own over 50% of the company going forward, and Abry Partners will fully exit its investment in Beacon Pointe as a result of this transaction.
KKR’s investment will provide Beacon Pointe with growth capital to support key priorities and continue the company’s strategy for national expansion through office openings and acquisitions.
The financial terms of the deal were not disclosed.
Venturi Private Wealth
The wealth management firm has received an undisclosed investment from private equity firm Bravura Capital.
As part of this investment, Kent Weldon will deliver strategic relationships, growth expertise and additional capital to the leadership team of Venturi Private Wealth. Weldon will also join Venturi’s board of advisers.
Also, Venturi has named Sylvia Bell hired as chief operating officer and Christopher Schelling as director of alternative investments.
Sequoia Financial Group
The financial planning, wealth management and asset management firm has agreed to acquire Ohio-based NCA Financial Planners (NCA) for an undisclosed sum.
The firm will operate under the Sequoia brand.
NCA chief executive Kevin Myeroff will become principal and senior strategic adviser and a shareholder of Sequoia.
Pure Financial Advisors
The advice company has agreed to buy Seattle-based Kaufman Kampe Advisors.
As part of this transaction, Lori Kaufman and Valerie Kamp will join Pure Financial.
The acquisition is the first for Pure Financial, which recently received an investment from private equity firm Lee Equity Partners and is also backed by Emigrant Partners.
The financial terms of the deal were not disclosed.
Warren Averett Asset Management (WAAM)
The independent wealth management firm has secured equity investment from financial services holding company Wealth Partners Capital Group (WPCG).
The management team of Alabama-based WAAM will remain meaningful shareholders as part of this transaction and parent company Warren Averett CPAs & Advisors will retain a minority stake.
The financial terms were not disclosed.
