M&A
T Rowe Price
The global investment management firm has agreed to purchase fintech firm Retiree for an undisclosed sum.
The acquired firm offers retirement income planning software.
Retiree’s retirement income planning software complements and expands T Rowe Price’s existing retirement capabilities to create a suite of retirement income solutions for investors and practitioner tools for financial professionals.
The transaction is expected to close during the second quarter of 2023, subject to satisfaction of certain closing conditions.
Wealth Enhancement Group
The independent wealth management has bought the California-based advice firm Equius Partners for an undisclosed sum.
Equius Partners’ team of seven financial advisers and five support staff, led by Thomas Troutner, oversee more than $1bn (£810m, €920m) in client assets.
Ty J Young Wealth Management
The wealth manager has acquired the practice of financial adviser Ronald Kocian.
Based in Victoria, Texas, Kocian’s clients will now join the TJY business.
This marks the 30th acquisition that Ty J Young Wealth Management has made in the past five years.
Dominari Financial
The financial services subsidiary of Dominari Holdings has acquired the broker-dealer and registered investment adviser business of Fieldpoint Private Bank and Trust for an undisclosed sum.
The acquired business will be the foundation of a financial services entity that will be known as Dominari Securities.
Fieldpoint Private Bank and Trust will continue to operate its personal banking and commercial banking entities under its name.
Dominari Securities will be a wealth management and investment advisory company.
Perigon Wealth Management
The independent wealth management firm has acquired Stakeholders Capital for an undisclosed sum.
The acquired firm has $145m in assets under management (AuM).
Stakeholders Capital is an Amherst, Massachusetts-based wealth management firm run by former Wall Street options trader Andrew Bellak with an additional office in Santa Monica, California, headed by Gregory Wendt.
Stakeholders Capital and its team of six advisers and staff will continue to operate under its own brand.
People moves
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has named Leslie Gillin Bohner as chief fiduciary officer.
Bohner will continue to be based out of the organization’s Radnor office. She joined Fiduciary Trust International in May 2020 as a result of the company’s acquisition of The Pennsylvania Trust Company.
Sendero Wealth Management
The wealth management firm has appointed Kristina Craig as chief financial and operating officer.
She spent more than a decade in a variety of accounting and compliance roles with Covenant, then Captrust.
Raymond James
Financial adviser Steven Rozencwaig has joined the wealth firm in New York.
Rozencwaig arrives at the Raymond James Manhattan Branch, headed by New York City complex manager Judson Potter.
He previously managed more than $315m in client assets at UBS Financial Services.
Rockefeller Global Family Office
The wealth management division of Rockefeller Capital Management has hired Marchetti Porter Wealth Partners to its Pacific northwest division.
The group is led by managing directors and private advisers James Marchetti and Caleb Porter.
The team was formerly at First Republic Wealth Management.
Alex Brown
The division of Raymond James has hired client adviser Steven Beasley in New York.
Beasley joins from UBS Financial Services.
