Second Half of April 2023 Financial Advisor and RIA Moves and Acquisitions

Independents and Banks:

Dustin Mac Brown (DM Brown Financial Services) in Scottsdale, AZ with $190 M AUM has moved to LPL (dually registered platform). Departed Cetera. 

Jeffrey Katz and Justin Katz (new team name: Katz Wealth Advisors of LPL Financial) have joined LPL -Linsco channel managing $210 M AUM. The team is located remotely across Napa, CA; Incline Village, NV. Prev with Wells Fargo.

Nate Carlon (Team Name: Carlon Wealth Advisors) in Scottsdale, AZ with $300 M AUM has joined LPL's dual BD/RIA. Prev with Stifel.

Michelle Brennan Hall (Team : Brennan Wealth Advisors LLC) with $220 M AUM in Frisco, TX has joined the LPL dually registered platform. She was prev with FSC Securities.

Landmark Capital ( FAs: Thomas Reynolds and Kathleen Gfrorer) has shut down their RIA and joined LPL' RIA  platform with $400 M AUM based in Oak Brook, IL. They had previously cleared via Securities America RAI platform. Having more back office support was the primary driver of the move.

Laura Harrison Ward based in San Francisco, CA managing $2 B AUM has joined William Blair. She had departed First Republic Bank.

Mark Friedman and Mitchell Peters (Team name: Friedman Peters Group) based in San Francisco, CA with $400 M have joined RBC. They departed First Republic

Pete Morimoto, Roy Elliott and Jon Jewitt based in San Diego, CA managing $1B AUM have joined Lido Advisors.  The Team was attracted to Lido's family office style of platform.  They had departed First Republic.

Mark Nickel and Michael Cox ( team name :The Nickel Cox Group) with $425 M AUM has joined RBC in San Francisco, CA. They departed First Republic

Ed McCay, Mark Kuznitz, and Larry Hess (Team name: McCay Kuznitz Hess Group) with $400 M AUM located in Red Bank, NJ has (re) joined Ameriprise as they sought more independence. They were prev with Merrill.

Todd Funk and Kelly Watzka ( TEAM NAME: Pinnacle Private Wealth) based in Kimberly, WI with $220 M AUM has joined Commonwealth and focuses on small business retirement plans. Prev with Associated Investment Services.

Delich Wealth Management (FAs: Tom Delich and Ben Freeby) with $250 M AUM has joined Advisor Group, and will affiliate with the Financial Dimensions Group in Brighton, MN.

Michael Reiss and William Ryan (Team name: The Spartan Group) with $300 M AUM in Morristown, NJ have joined JP Morgan Private Wealth. The Team departed Morgan Stanley.

BT Legacy Wealth Management (FAs:Jamie Tomlin and Zak Tomlin) with $189 M AUM in St. Petersburg, PA has joined Stifel. They were previously with Wells Fargo Fi Net division.

small free trial banner


The Peterson Group which includes: Sean F. Bricmont, David Dudek, Stephen R. Marotto and Randy J. Peterson managing $3 B AUM in San Francisco, CA have joined Morgan Stanley.  They departed First Republic Bank.

Lockhart Sanders Group (FAs:Michael Lockhart and Linda Sanders)  joined Morgan Stanley’s Hauppauge, NY with $997 M AUM.  The Team is ranked on the Forbes Best in State list. They departed Merrill.

The TriPoint Team (FAs: Michael John Tusing, Michael T. Huntsman and Thomas V. Hobbs) in Los Angeles, CA and Chesterfield, MO managing $900 M  AUM have joined Morgan Stanley.  They departed UBS.

Terance Takyi managing $227 M AUM in New York, NY has joined UBS. He departed First Republic.

Ting O’Connor based in San Jose, CA managing $875 M AUM has joined UBS. Joining the private wealth side of UBS, she wants to offer more UHNW services. She was previously at Merrill. 

Paul Cuneo and Tim Denihan, based in Great neck, NY managing $1 B AUM joined UBS . The Team ranked 18th on the Forbes Best in State list. They departed Merrill Lynch. 

David Mucha and Robert Gehlen who are based in San Francisco, CA managing $650 M AUM have joined Wells Fargo. They departed First Republic.

Acquisitions and RIAs:

Modern Wealth Management has been launched by Gary Roth and Mike Capelle, and President Jason Gordo, with $200 M in PE backing from Crestview.  Gary and Mike were co-founders of United Capital which was later purchased by Goldman Sachs.  They intend on growing the new RIA via mainly via acquisition.

Burnham Harbor Private Wealth (FAs: James Corrigan, David Holtkamp, Sean Jucas and Kenneth Shay) with $1 B AUM in Chicago, IL has joined Sanctuary Wealth. The Team was previously with Merrill Lynch.

TRUE Capital Management (FAs: Doug Raetz and Heather Goodman) located in San Francisco, CA managing $1.7 B AUM has been acquired by Cresset Asset Management.  True has focused on professional sports players as part of their client base. 

Great Lakes Private Wealth ( FAs: Daniel Murphy, Patrick Patin,  Carla Stamps)  has been launched in Farmington Hills, MI with $400 M AUM. They will clear through Summit Financial. Previously the Team was with Wells.

Michael Lehman, Derek Wittjohann and Patrick York have launched Premier Path Wealth Partners in Madison, NJ with $875 M AUM. They are launching via Dynasty Partners and will custody with Fidelity.   The Team departed Merrill Lynch. 

Parsec Financial based in Asheville, NC $3.8 B AUM has been acquired by Modera Wealth Management (PE backed) out of NJ.  Post acquisition this brings Modera's base to $10.5B AUM and the staff of 24 from Parsec will join Modera.

Brainard Capital Management, out of Austin, TX with $850 M AUM has been acquired by Pathstone (PE backed).  Brainard specializes in liquidity planning for tech/venture clients, which Austin has been attracting.  Post acquisition seven staff will be joining Brainard.

Selcow Wealth Partners (FAs:Daniel Selcow and Nikita Chhabri) in New York, NY managing $680 M AUM has joined Rockefeller.  They have been listed on the Forbes Shook Best in State list and were previously with First Republic Bank.

John W. Sheehan based in Washington DC managing $450 M AUM has joined Rockefeller. Previously with Morgan Stanley.

Michael Lehman, Derek Wittjohann and Patrick York have launched Premier Path Wealth Partners in Madison, NJ with $875 M AUM. They are launching via Dynasty Partners and will custody with Fidelity.   The Team departed Merrill Lynch. 

Domani Wealth (PE backed) based in Lancaster, PA with $1.5 B AUM has been acquired by Savant Wealth Management ( also PE backed). All 23 employees will move to Savant and will bring AUM to approx. $20 B AUM post-acquisition.

Basil Financial Group (FA: Lois Basilbased in Chicago, IL with $76 M AUM has been purchased by Savant Wealth. Also acquired by Savant, Paragon Financial Advisors (FA: Mark Zion) in Columbia, SC with $84 M AUMThis will bring Savant across 11 states and 28 offices.

Heacock & Jones Financial Services (FA: Paul Heacock,)  based in Dubuque, IA managing $335 M AUM has been purchased by Wealth Enhancement Group (PE bacekd). WEG will have acquired $3.3 B additional AUM already in 2023 post acquisition. 

Infinity Wealth Alliance (lead FA: Luther Hagen) in Apple Valley, MN with $240 M AUM has been purchased by Wealth Enhancement Group/WEG (PE backed). This is the second acquisition in under two weeks by WEG.

Jurika, Mills & Keifer based in San Francisco, CA with $300M AUM has been purchased by Cerity Partners.

Jennifer McCosley joined Beacon Pointe Advisors (PE backed) managing $300 M AUM in Greensboro, NC.  Beacon typically does acquisitions, which makes this an outlier as the Firm has grown to $28B AUM in 45 offices.   She was prev with Triad. 

The Compass Group (FAs: Rodney Twells, Andrew Sikorovsky, and Joseph Schmidt) in Pepper Pike, OH with $1 B AUM has joined DayMark Partners ( a Dynatsy affiliated firm).  Similar to the founders of DayMark, Compass was prev with Wells. 

Aevitas Wealth Management based in Wellesley Hills, MA with $567 M AUM has been acquired by CAPTRUST. Michael Schreiber and an additional four employees will be joining CAPTRUST post-acquisition and will be the third acquisition in the Boston area, and third acquisition in 2023. 

IEQ Capital in San Fran with $18 B AUM  has received a PE backing from Stone Point CapitalIEQ has consistently been on the Barrons top RIA list.

Also in IEQ new, Jeremy Wenner located in San Francisco, CA  and Adam Beard in Boston, MA both joined IEQ, the managing $1.5 B AUM. IEQ was founded four years ago by former First Republic advisors. The Team was with First Republic Bank and is not making the jump JP Morgan.

Stratos Private Wealth has been launched by PE backed Stratos Wealth Holdings, and is acquiring BWM Financial (main FA: Jeff Brown)  with $1.3 B AUM in San Diego, CA as the "anchor" of the  new firm. Previously, Stratos purchased stakes in RIAs, and left the individual branding alone.

Devin Pope managing $300 M AUM in Salt lake City, UT has joined RIA Nilsine PartnersNilsine is a new RIA launched two years ago by Merrill advisors.  Pope is coming from Albion Financial. 

New call-to-action

Written By: Gui Costin, Founder, CEO

Gui Costin is the Founder and CEO of Dakota.