M&A
Mercer Advisors
Registered investment adviser (RIA) Mercer Global Advisors has acquired Westport, Connecticut-based wealth manager Benemark for an undisclosed sum.
The deal adds 70 clients and around $230m (£170m, €201m) in assets under management (AuM).
Benemark’s entire team will join Mercer.
Connectus Wealth Advisers
Connectus has entered into a definitive agreement to acquire the assets of Mid-Continental Capital, an RIA firm based in Chicago.
The transaction is expected to close in Q2 2022. The financial terms of the deal were not disclosed.
Mid-Continental provides fully customised portfolio management services.
Creative Planning
The RIA business has purchased New York-based multi-family office The Doman Group for an undisclosed sum.
Doman managed around $400m in AuM, and serves ultra-high and high net worth clients with investment management, financial planning, tax preparation, family office, alternative investment analyses, and relocation services.
Cerity Partners
National independent wealth firm Cerity Partners and Boston-based wealth manager Daintree Advisors have merged.
The M&A deal enhances Cerity’s presence on the east coast and brings client assets to $45bn.
The combined firm will operate under the Cerity Partners name and brand.
Bluespring Wealth Partners
Austin, Texas-based wealth manager Bluespring has bought Dallas-based CD Wealth Management to create a hub in north Texas.
CD will continue operating under its name and its founder and partners will maintain a significant equity interest in the partnership.
The financial terms of the deal were not disclosed.
People moves
Raymond James
Financial advice giant Raymond James has made several hires.
Chief human resources officer Chris Aisenbrey has been promoted to the firms’ executive committee. He had held the role since 2019.
Tom Killingsworth joined Raymond James & Associates, the firm’s employee adviser channel, in Idaho.
Based in Boise, he will head Killingsworth Investment Group of Raymond James. He used to manage over $340m of client assets at Wells Fargo.
Financial adviser Terry Estes joined Raymond James Financial Services, the company independent adviser channel, in Monroe, North Carolina.
Estes was previously at Freedom Street Partners where he managed around $156m in client assets.
BNY Mellon
The wealth management division of BNY Mellon named Nany Keller-Go as global head of fiduciary for the global family office arm.
She will be based in Boston.
Keller-Go was most recently at Bank of America Private Bank where she served as investment and wealth structuring market director.
First Sentier Investors
The global investment manager promoted Yoshiki Ueno to deputy chief executive.
He has been at the firm since 2019 as head of US governance.
Ueno will relocate to Sydney to support chief executive Mark Steinberg in the implementation of the firm’s strategy and as a liaison to The Trust Bank.
Ueno replaces Yutaka Kawakami who will return to Tokyo to take on the roles of managing executive officer, deputy chief executive, asset management & investor services business unit, business head, asset management business at The Trust Bank.
Seventy2 Capital
Washington DC-based independent wealth manager Seventy2 Capital has hired Linda Whittington as a partner.
She will lead the establishment of a branch for the firm in Tyson Corner, Virginia.
Jay Quimbi has also been recruited as a client service associate in the city.
Sage Mountain
Atlanta-based wealth manager Sage Mountain promoted chief investment officer Tony Cox to president.
He will retain his previous duties in addition to the latest position.
Callan Capital
California- and Texas-based wealth management business Callan Capital appointed Jessica Cafferata as managing director of financial planning.
She used to work as a wealth management adviser at Mariner Wealth Advisors in Plano, Texas.
