M&A
Coldstream Wealth Management
Seattle-based wealth manager will merge with Paracle Advisers.
The combined RIA group, under the Coldstream brand, will have $5.7bn (£4.1bn, €4.7bn) in client assets.
The financial details of the deal were not disclosed.
Investcloud
The financial digital solutions provider has acquired financial planning technology firm Advicent for an undisclosed sum.
The cloud services provider aims to create the “world’s leading financial planning solution” by leveraging on Advicent’s cash flow, trust and tax planning offering.
People Moves
RBC Wealth Management
The wealth firm has opened a Roanoke, Virginia office which welcome The Meridian Group from UBS.
The group manages around $900m in assets and specialises in financial planning and asset management for high net worth families and businesses.
The team comprises Edward Link and Michael Kemp, both managing directors and financial advisers; Bradley Blum, senior vice-president and financial adviser; Allison Link, financial adviser; Virginia Riddle, senior financial associate; Michaela Frantz and Judith Honaker, both senior registered client associates; and, Kristy Joyce, client service associate.
In other news, Jesse Witt has been hired as Phoenix complex director to lead 71 advisers and 57 support staff across six branches in the Arizona capital.
He joins from Wells Fargo where he was a regional manager and succeeds Glen Gatch who is retiring.
Additionally, the Heald Wealth Management Group joins RBC WM’s office in Wellesley, Massachusetts, from Wells Fargo. It manages around $460m in assets and specialises in retirement income planning and asset management for HNW individuals, families and trusts.
The group is made up of: Timothy and Andrew Heald, both senior vice-presidents and financial advisers; and Elyse Slotnick, senior client associate.
Northern Trust Wealth Management
Ana Nuñez has been promoted to senior managing director of the private client advisory team in Miami.
She will succeed Eric Vainder, who was recently promoted to market executive for Broward County.
Nuñez has been at Northern Trust for 22 years, serving in various senior roles.
BNY Mellon Wealth Management
The wealth manager has named Bryce Walker as senior client strategist in Tampa, Florida.
He will work with UHNW families.
Walker was previously vice-president of asset management and capital advisory at PNC.
Amerilife
The life and health insurance provider has recruited Mark Springett as senior vice-president for enterprise data and analytics.
He most recently served as head of data science, business intelligence and data at Allianz Life.
Sun Life
The international financial services provider has promoted Yaniv Bitton to vice-president and head of investor relations and capital markets, based in Toronto, Canada.
He has been at the firm since 2016 holding several senior positions.
Lafayette Square
The New York-based investment platform has recruited Ommed Sathe as head of strategy, a newly created role.
He joins from Prudential where he was head of the impact investing unit.
RGT Wealth Advisors
The Dallas-based financial advisory firm has hired Steve Novak as a managing director.
He joins from Morgan Stanley where he worked as an executive director for over two years.
