M&A
Gallagher
The global financial services firm has acquired US wealth management group f3 Companies for an undisclosed sum.
Included in the acquisition are Minnesota-based f3Logic, f3Investment Management and Kusske Financial Asset Management, Virginia-based Financial Consultants of America and Massachusetts-based Compass Point Retirement Planning.
The f3 Companies are a wealth management platform with over $1bn (£890m, €1bn) in assets under advisement.
Companies provide retirement planning and financial advisory services to individuals, individual advisers and registered investment advisory firms.
The f3 Companies will remain in their current locations under the direction of Jeff Leonard, Gallagher’s North American business line leader for financial and retirement services.
Allworth Financial
The registered investment adviser (RIA) firm has acquired the advisory teams and client relationships from Journey Advisory Group’s Gold River, California, and Temple, Texas, offices.
While specific terms of the deal were not disclosed, the acquisition, Allworth’s 24th in four years, brings an additional $215m in assets under management to Allworth Financial.
Choreo
The independent RIA firm has agreed to acquire California-based Enso Wealth Management for an undisclosed sum.
Enso WM has approximately $1.8bn in assets under management. Enso has 13 advisers and nine support staff.
Once the agreement is completed, all will work under the Choreo brand, with Jim DeCota, Enso’s co-founder and president, assuming the role of managing director.
It is the firm’s first acquisition since its launch as a standalone organisation earlier this year.
Captrust Financial Advisors
The advice firm has made its 60th deal since 2006 with the addition of Danda Trouvé Investment Management (DTIM) for an undisclosed sum.
The wealth manager is based in Prairie Village, Kansas, and the firm’s president, Michelle Trouvé, along with two associates will join Captrust.
DTIM will take on the Captrust brand.
Mercer Global Advisors
The RIA firm has bought Mark D Cunningham, a sole proprietorship affiliated with Raymond James.
Cunningham, a wealth management firm located in Bellaire Texas, serves clients with AuM of approximately $360m.
The financial terms of the deal were not disclosed.
OneDigital Investment Advisors
The RIA firm has acquired New Jersey-based JFL Total Wealth Management (JFL) for an undisclosed sum.
This acquisition marks OneDigital’s seventh strategic wealth management transaction in 2022.
President Jerry Lynch will be joining OneDigital along with his five-member team, bringing approximately $300m in assets under management across 383 private and corporate clients.
People moves
Dakota Wealth Management
The independent investment management firm has named Joshua Crossman as managing director and senior wealth adviser.
Crossman was most recently was an executive managing director at Boston Private.
RBC Wealth Management
A 16-person team, including 5 financial advisers, has joined the wealth manager’s Indianapolis office from UBS.
The Promus Wealth Management Group includes:
- David Bartz, managing director and financial adviser;
- Daniel Chillemi, managing director and financial adviser;
- Brendon Harbron, managing director and financial adviser;
- George Kempf, senior vice president and financial adviser;
- Marc White, senior financial associate;
- Jordan Frye, financial adviser;
- Sandra J. Harrington, associate vice president and senior business associate;
- Benjamin Weddle, senior financial associate;
- Kirsten Robinson, senior financial associate;
- Kathryn Miller, senior financial associate;
- Richard Farkas, senior financial associate;
- Jason Brown, senior financial associate;
- Ozzie Fishman, senior financial associate;
- Allana Gill, senior registered client associate;
- Hanna Jackson, senior registered client associate; and
- Kristi Kulpa, client associate
Raymond James
The financial services firm has hired several advisers across the US.
The hires are:
- Troy Brewer, who operates as ClearPlan Wealth Management in Towson, Maryland, is joined by associates Wendy Franklin-Bayley, Carol Brewer and Marci Griffin from Wells Fargo Advisors;
- Blaine Franklin joins Raymond James as owner of Blaine P. Franklin Financial Services. He is accompanied by client service associate Heather Franklin and office manager Kristin Rubin from Edward Jones;
- Graham Rogney joins from Morgan Stanley. He will operate as Rogney Wealth Management of Raymond James; and
- Mark Anderson and Tiago Lima operate as Sovereign Wealth Strategies Group (SWSG). Anderson and Lima are joined by eight planners and associates and join from Northwestern Mutual.
