M&A
Mariner Wealth Advisors
The wealth firm has agreed to buy California-based AdvicePeriod for an undisclosed sum.
Steve Lockshin and the other AdvicePeriod equity holders will be exchanging their interests in AdvicePeriod for interests in the combined entity.
Under the deal, AdvicePeriod will retain its brand and Lockshin, Jonathan Straub and Marc Russell will remain AdvicePeriod’s principals.
This is Mariner Wealth Advisors’ 25th acquisition.
The acquisition is set to close on 31 August 2021.
Emigrant Partners
The New York Private Bank & Trust subsidiary has completed a minority investment in Verdence Capital Advisors, a financial planning and independent wealth management firm headquartered near Baltimore, Maryland.
Verdence currently serves high net worth families, business owners, executives, and professional athletes and entertainers.
The financial terms of the deal were not disclosed.
People moves
JP Morgan
The banking group is reportedly planning to hire more than 500 financial advisers within the next seven years, according to Reuters.
That plan would more than double the 450 wealth managers now working for JP Morgan Advisors.
Sanctuary Wealth
Paul Sullivan has joined the firm as a managing director.
He spent his entire 34-year career with Merrill Lynch, the last 12 as managing director and market executive at the SD Financial Centre office.
Evercore Wealth Management
Eva Anthony has been named as managing director and wealth and fiduciary adviser of Evercore Wealth Management and Evercore Trust Company.
Anthony joins Evercore from BNY Mellon Wealth Management, where she worked as a senior fiduciary specialist, providing fiduciary and planning advice to high net worth clients.
Raymond James
Financial advisers James Warren and Susan Hite to its offices in Tampa, Florida.
Warren and Hite join Raymond James from Wells Fargo Advisors.
Together, they operate as Warren Hite Family Wealth Advisors of Raymond James.
