M&A
Wealthspire Advisors
The independent investment adviser has agreed to acquire California-based wealth manager Private Ocean for an undisclosed sum.
Private Ocean is based in San Rafael, California, with additional offices in San Francisco and Seattle.
This deal comes on the heels of Wealthspire’s recent agreement to acquire Private Capital Group.
After both transactions are complete, Wealthspire expects to be overseeing assets of approximately $17bn (£13bn, €15bn) and have 18 offices across the country.
The transaction is expected to close in the fourth quarter of 2021.
The Colony Group
The Focus Financial subsidiary has agreed to buy wealth management firm Derby and Company for an undisclosed sum.
Colony will have 20 offices nationally with over 300 team members upon closing of the transaction, which is expected to occur before end of 2021.
Derby & Company was founded in 1987 by Burt Derby. As the firm grew, Mark and Jonathan Derby joined the team specialising in serving entrepreneurs and professionals.
They will both join Colony as principals and senior wealth advisers.
Cerity Partners
The US wealth manager has merged with San Francisco-based Bingham, Osborn & Scarborough (BOS).
The combined firm will operate under the Cerity Partners name.
The merger between Cerity Partners and BOS will include the creation of two leadership positions within the organisation:
- BOS president and chief operating officer Carol Benz will become Chief People Officer of Cerity Partners; and
- BOS principal David Newson will become chief marketing officer of Cerity Partners.
The financial terms of the deal were not disclosed.
EP Wealth Advisors
The independent registered investment adviser (RIA) firm has merged with Sound Financial Planning.
The merger expands EP Wealth’s footprint in Washington state to include Mount Vernon and Friday Harbor.
Founder William Morrissey, vice president Tammy Prouty and client services specialist Sheryl Jakel will join the EP Wealth team.
The financial terms of the deal were not disclosed.
People moves
Blacktower Financial Management
The advice company has named Alexandra Gherardi-White as compliance officer in the US, according to her Linkedin profile.
She joins from Mathieu Dabot Bonfils, where she was an associate attorney.
Opal Wealth Advisors
The wealth firm has hired Matthew Krouse as a financial adviser.
Before joining Opal, Krouse was a financial adviser at Edward Jones.
Wilmington Trust
The firm has expanded its Boston wealth management team with six hires.
The hires include:
- Robert Goodall – joins from TD Wealth Private Client Group as a senior private banker;
- Terry Mullany – joins from US Trust as a senior wealth adviser;
- Morgan Mohrman – joins from TD Wealth Private Client Group as a senior wealth investment adviser;
- Tyler Calder – joins from TD Wealth Private Client Group as wealth adviser;
- Dave Malone – joins from Ascencus as a senior wealth investment adviser; and
- Kerry Reeves – joins from Choate, Hall and Stewart as director of wealth strategies.
RBC Wealth Management
Christopher Andreach has rejoined the wealth manager as managing director and financial adviser.
He was briefly at UBS.
