New business
Zedra
The financial services provider has opened a private wealth office in South Dakota.
It will strengthen the firm’s presence in the Americas and expand its offering in the US private wealth space.
The office, led by managing director Jon Olson, will offer a range of trust administration services tailored to international clients.
M&A
Pathstone
The family office company has received a strategic equity investment from private equity firm Kelso & Company.
The financial terms of the deal were not disclosed.
Kelso will join Lovell Minnick Partners (LMP), which has stood alongside Pathstone since 2019 and will add to its capital commitment in the next chapter of growth.
Pathstone serves families and individuals, family offices, and foundations and endowments representing more than $80bn (£66bn, €75bn) in assets across 17 offices.
Captrust Financial Advisors
The advice firm has bought Houston-based Monroe Vos Consulting for an undisclosed sum.
Founded by Jim Monroe and Tim Vos in 1994, Monroe Vos also has an additional office in Birmingham, Alabama.
The firm brings its entire team of 17 colleagues to Captrust and more than $5.8bn in assets.
The deal is the first for Captrust in 2023 and the 64th since 2006.
Falcon Wealth Planning
The advice firm has acquired San Jose-based Rivermark Wealth Management for an undisclosed sum.
Ron Guay, principal of Rivermark Wealth Management established the company after making a pivot into personal finance and tax planning after joining the industry in corporate finance.
Creative Planning
The wealth manager has bought advice firm Telarray Advisors for an undisclosed sum.
Telarray has $1bn in AuM and brings 18 employees into the Creative Planning fold.
Prime Capital Investment Advisors
The advice company Nevada-based registered investment adviser firm Cornerstone Comprehensive Wealth Management for an undisclosed sum.
This acquisition marks the first location for PCIA in Nevada and adds $400m in assets under management.
People moves
Sanctuary Wealth
The advice network has appointed David Vaughan as chief financial officer.
Vaughan was most recently chief financial officer at Axos Clearing, where he directed multiple teams serving more than 70 broker-dealers and over 220 registered investment adviser (RIA) firms.
Integrated Financial Partners
The financial planning and wealth management firm has hired John Piantedosi as chief operating officer.
Piantedosi joins after having spent the bulk of his career working at Fidelity Investments in various roles, including director, product manager – wealth adviser solutions.
First Republic Bank
The private bank and wealth management company has hired a six-person team led by Alexander Kadish, Nicholas Davey and JP Garofalo.
Kadish and Davey were each named managing director and wealth manager. Garofalo was named vice president and wealth manager.
The team join from Merrill Lynch Wealth Management.
NewEdge Wealth
The RIA firm has hired Hunter Gehring as principal.
Prior to joining NewEdge Wealth, Gehring worked at Arvest Wealth Management as a vice president and senior client adviser.
Raymond James
Financial adviser has joined the wealth firm in Naples, Florida.
Operating as Weisberg Wealth Management, Weisberg is joined by client service associates Nancy Comparetto and Cheryl Krebs.
The team joins from UBS Financial Services.
