November 16, 2023
October did not disappoint from an activity basis as many RIAs, FAs and acquisitions took place. As the month has come to a close, Dakota tracked a total of 45 transactions. (FA Moves 9, RIA Moves 19, Acquisitions 10, New RIAs 7)
During this period we did not see as many purchases of RIA's that cooled a bit from the record pace we have been seeing for the past few months. LPL Financial remains as a top attraction, while RBC Wealth Management continues to make a big push for FA teams nationwide.
In this article, we're listing the financial advisor and RIA moves and acquisitions we tracked in October 2023. By the end of this, you'll have a better understanding of movement that happened last month.
Dale Schroeder has joined NewEdge Wealth’s San Francisco office. He was previously with Wells Fargo.
Financial Advisors, Erich Yost and Ryan Bond, have joined Savvy Advisors as principal wealth managers. Yost was previously with Veritable, and Bond was previously with Empower.
Wells Fargo has added four Financial Advisors from Santander Securities, Citizens Securities & J.P. Morgan Securities. Michael Dunleavy, Anthony Pontoriero, Mark Stauffer, & Brandon Haney all join Wells Fargo overseeing a combined $562 million in AUM.
Advisor Jordan McLendon has joined Raymond James in the Manhattan Branch office. He was previously with UBS and where he produced $2.2 million in annual revenue.
FA duo, Raymond Bardoul and Brian Fox, join Totus Wealth Management (Cetera Financial Group), based in Houston, TX. They stem from MML Investor Services where they managed $327 million in assets.
Advisors Tim McNutt and Narayan Pallavur have joined UBS in the Westlake Village Office. The duo manages approximately $420 million in assets and stem from rival Merrill Lynch.
Advisors William Diehl and Russell Crow have joined Beacon Pointe Advisors in the Dallas office. The team manages $2 billion in assets and were previously with UBS.
Advisor Jonathan Wittlin has joined Freestone Capital Management in the San Francisco office. He was previously with Parallel Advisors.
A Father-son duo, Mark and Thomas Lucas, has joined RBC from Wells Fargo. They are based in Erie, PA and reportedly manage approximately $226 million in assets.
Kistler-Tiffany Advisors (FAs: James Arnold, Andrew Reder, Michael Conner, & Davis Kovach), based in Berwyn, PA has joined Creative Planning. The team oversees approximately $1.4 billion in assets.
Feldmeyer Financial Group (FA: Ben Feldmeyer), based in Dayton, OH and managing $250 million in assets, has joined One Seven. The team was previously with Ameriprise Financial.
Bradford Capital Group (FAs: Chris Bradford, Dave Meagher, & Stina Bradford) have joined LPL Financial based in Sacramento, CA. The team manages approximately $150 million in assets and was previously with Osaic.
Paneral Family Wealth Advisory (FAs: Barbara Paneral & Stephen Paneral), based in Grand Rapids, MI, have joined Raymond James. The team manages approximately $134 million in assets and was previously with Baird Asset Management.
Pluff Wealth Management (J. Daniel Pluff & Carol Doyle), based in Syracuse, NY, has joined RBC from Morgan Stanley. The team manages approximately $630 million in assets.
The Betesh Group (Morris Betesh & Irving Betesh), based in New York City, has joined UBS. The team manages $780 million in assets and was previously with Merrill Lynch.
Phillips McIntyre Group (Jonathan Phillips and David McIntyre Jr), based in Raleigh, NC, has joined Raymond James. The team manages $570 million in assets and was previously with Merrill Lynch.
West Wealth Advisory (Jared Vest and Sandy Brown), based in Fresno, CA, has joined Raymond James. The team manages $390 million in assets and was previously with Merrill Lynch.
Bridgeline Wealth Partners (Travis Prospt & Trent Douglas), based in Atlanta, GA, has joined Rockefeller Capital Management. The team manages $963 million in assets and was previously with UBS.
Infinity Wealth Group (Robert Doran), based in Wantage, NJ, has joined LPL Financial. The team manages approximately $265 million in assets and was previously with Cadaret, Grant & Co.
Swart Financial Partners (J.D. Swart), based in Wilmington, NC, has joined Raymond James. The team manages approximately $140 million in assets and was previously with Edward Jones.
DeCaro Eisenberg Group (Roy Decaro, Max Eisenberg & Sean McFadden), based in Philadelphia, PA, has joined RBC Wealth Management. The team manages approximately $450 million in assets and was previously with Morgan Stanley.
David Beaver & Associates (David Beaver & Aaron Sanchez), based in Guam, has joined Raymond James. The team manages approximately $287 million in assets and was previously with Merrill Lynch.
The Ruccio Group (Jeremy Ruccio, Tristan Lambert and Bita Asgari), based in Miami, FL, have joined RBC Wealth Management. The team manages approximately $1.37 billion in assets and was previously with Merrill Lynch.
Harvan McKenzie Wealth Partners (David Harman & James Mckenzie), based in Palm Beach, FL, have joined Rockefeller Capital Management. The team manages approximately $500 million in assets and was previously with Merrill Lynch.
The Charles Drew Group (Charles Drew, Bennett Kavlick, & Matthew Tomczuk), based in Washington, D.C., have joined UBS Wealth Management. The team manages $460 million in assets and was previously with Merrill Lynch.
Schwartz Financial Associates (Tamara Kukainis & Daniel Kukainis), based in Marlton, NJ, has joined Equitable Advisors. The team manages $175 million in assets and was previously with Cetera Advisors.
Riverside Wealth Partners (Bill Laird), based in Jacksonville, FL, has joined NewEdge Advisors. The team manages approximately $500 million in assets and was previously with FORVIS Wealth Advisors.
Kindred Wealth Partners (Charles Palmer, Randall Klaiber and Sean O’Riordan), based in Pittsburgh, PA, has joined Kesra Financial. The team manages approximately $650 million in assets.
Edelman Financial Engines has acquired Oklahoma City-based RIA, Align Wealth Management. The team manages approximately $425 million and was co-founded by Brain Puckett and Dennis Packard.
Waverly Advisors has acquired Jackson, MS-based RIA, SoundPath Investment Advisors (FAs: Julius Ridgway, Doug Muenzenmay & Eddie Carlisle). The team manages approximately $747 million in assets.
Carson Group has acquired Columbia, MD-based RIA. FAI Wealth Management. FAI manages approximately $300 million in assets.
Wealth Enhancement Group has acquired Los Angeles-based RIA, KCS Wealth Advisory. KCS manages approximately $373 million in assets.
Mercer Global Advisors has acquired Kingfisher Capital, a Charlotte, NC-based RIA managing $630 million in assets.
Buckingham Strategic Wealth has acquired Lincoln, R.I.-based Briggs Advisory Group. Briggs manages approximately $450 million in assets.
Buckingham Strategic Wealth has acquired Rochester Hills, MI.-based LifePlan Financial Advisory Group. LifePlan manages approximately $170 million in assets.
Sammons Financial Group has acquired Minneapolis-based RIA, Northrock Partners. Northrock manages approximately $5 billion in assets.
Waverly Advisors has acquired Colorado Springs, CO-based RIA, Rainsberger Wealth Advisors. This acquisition increases Waverly’s assets to $7.4 billion and Waverly’s to $302 million.
Captrust Advisors has acquired Indianapolis-based RIA, Column Capital. Column manages approximately $1.4 billion in assets.
Trio of advisors, Raanan Pritzker, Brian Brenneman, & Neal Foushee, have joined LPL to launch PB Fam Private Wealth. The team is based in Atlanta, GA and manages $1 billion in assets. They were previously with Fifth Third Private Bank.
Father-Daughter duo, Robert Bishop & Sarah Bishop Edwards, have joined Raymond James and will operate as Bishop Edwards Wealth Management in Columbus, OH. The duo manages approximately $290 million in assets and was previously with Merrill Lynch.
Financial Advisors, Brock Hively, Josh Smeltzer, Aaron Gingrich, and Emily Sides have joined LPL Financial to launch a new $900 million independent RIA, Sides Wealth Advisory Group. The team is based in York, PA and was previously from RBC.
Father-Daughter Duo, Joe and Jamie Bryant have joined LPL Financial to launch new RIA, Winner’s Circle Wealth Management based in Lexington, KY. The duo oversees $125 million in assets and was previously with Robert W. Baird & Co.
Ex Morgan Stanley team has launched a new RIA, SpirePoint Private Client, based in Vero Beach, FL. The trio manages $1.5 million in assets.
Trevor Johnson and Brain Russo have joined LPL Financial to launch a new independent RIA, Steeplechase Capital Partners, with offices in Newton Square, PA and Windham, NH. The team manages approximately $265 million in assets and was previously with RBC.
Advisors Andy Vestal and Matt Bryant have joined D.A. Davidson & Co. to launch Vestal Financial Group, based in Wilmington, NC. The team manages approximately $1 billion in assets and was previously with Truist.
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John Washington is the Data Research Analyst at Dakota.
