M&A
Rockefeller Capital Management
The US financial services firm has agreed to acquire Financial Clarity, a multi-family office based in Mountain View, California.
The move forms part of the Rockefeller Global Family Office’s expansion into northern California.
For over 25 years, Financial Clarity hsa offered financial planning services to high net worth families in the Silicon Valley region.
Stan Young, who founded Financial Clarity in 1992, will join Rockefeller as managing director and senior client adviser.
He will be a senior member of the team leading the Silicon Valley office.
Financial Clarity oversees approximately $2.3bn (£1.8bn, €2.1bn) in client assets.
The transaction is subject to regulatory approval and expected to close early in the fourth quarter of 2019.
Hub International
The wealth management arm of the Chicago-based financial services firm has acquired the assets of Wash Financial.
Financial terms of the transaction were not disclosed.
Headquartered in McLean, Virginia and led by chief executive Joe DeNoyior and president Jeff Hamblen, Wash Financial offers wealth management services across the US.
DeNoyior will join Hub’s mid-Atlantic operation, working with David Reich, national president of Hub Retirement and Private Wealth and collaborating with Charles Brophy, Hub president and chief executive, and regional president of US east.
No information was provided about what role, if any, Hamblen will have at Hub.
In a separate move, Hub International has also acquired the assets of Perennial Pension and Wealth.
Based in New York, Perennial Pension & Wealth is an independent financial services company that provides pension, retirement planning, wealth management services and strategies to both organisations and individuals.
Bob Krieger, the founder and chief executive of Perennial Pension & Wealth, will join Hub Northeast.
The financial terms of the transaction were not disclosed.
Connecticut Wealth Management
The registered investment adviser (RIA) has merged with Connecticut-based financial planner Capital Strategies.
The financial terms of the deal were not disclosed.
Five team members moved to CWM, which brings the total to 25.
People Moves
RBC Wealth Management
The banking group has promoted Kristen Kimmell to head of adviser recruiting and field marketing.
A nearly 25-year veteran of the firm, Kimmell has held a variety of roles in finance, capital markets and wealth management.
In the role, she will seek out the best talent to join the firm’s nearly 2,000-strong financial adviser base.
In other news, RBC Wealth Management has hired three teams.
The Campbell Matherly Group has joined the Denver office from Merrill Lynch.
It is composed of:
- Darwin Campbell, senior vice president – financial adviser, who has 41 years of industry experience;
- Matthew Matherly, senior vice president – financial adviser, who has 12 years of experience;
- Alexander Aubrey, associate vice president – financial adviser, who has eight years of experience; and
- Theresa Yates, investment associate.
The Schmitt Evancho Wealth Management Group has joined the Pittsburgh (Sewickley) office from UBS.
It is composed of:
- Jeffrey Schmitt, senior vice president – financial adviser, who has 30 years of industry experience;
- William Evancho, senior vice president – financial adviser, who has 21 years of experience; and
- Amanda Colledge, senior registered client associate.
Lastly, the Costa Kingston Wealth Management Group also joins RBC from UBS and will be based out of the Pittsburgh (Three Rivers) branch.
The team is made up of:
- Richard Costa, vice president – financial adviser, who has 19 years of industry experience; and,
- Aaron Kingston, vice president – financial adviser, who has 18 years of experience.
Sentinel Trust Company
The Texas wealth manager has hired Todd Burchett as managing director and chief investment officer.
Burchett succeeds Bruce Swanson, who will transition to a counsel role with the firm after joining in 1998.
As chief investment officer, Burchett is responsible for all investment strategy and process across Sentinel Trust’s national footprint.
He joins from multi-family office Athena Capital Advisors.
Veris Wealth Partners
Stephanie Cohn Rupp has been named chief operating officer at the San Francisco-based wealth firm.
She will be focused on leading the firm’s impact wealth management growth strategies, financial performance and client experience.
Before joining Veris, Rupp was managing director and partner of head of impact investing at Tiedemann Advisors.
Boston Private
The trust and wealth management firm has named John Longley as president of western region.
Longley will provide leadership and oversight for all west coast activities and will be based in the firm’s San Francisco office.
He has more than 20 years of experience in the financial services industry.
Prior to joining Boston Private, he served as managing director and head of private wealth at Blackrock iShares.
He also spent 17 years at Citigroup, concluding in the role of chief executive of Citi Private Bank North America.
Adhesion Wealth
The firm has named Jina LaPlante as director of support.
She will lead and build Adhesion Wealth’s team of platform support, portfolio operations, and onboarding specialists.
LaPlante joins from Morgan Stanley, where she was a director of operations-risk and control.
GCG Wealth Management
The independent financial services firm has hired five advisers for its second office in North Carolina.
They have joined the Greenboro operation from Wells Fargo Private Client Group.
The advisers are Clay Craven, George Harris, Garrett Mullins, Shell York and Billy Ricketts, who is the first female to become licensed as a financial adviser in the state of North Carolina.
Ricketts is both the first female and currently the oldest financial adviser working in the state.
Truxton Trust
Mitch Van Zelfden has joined the private banking and wealth management firm as portfolio manager.
He joins Truxton Trust from Stifel, Nicolaus & Co, where he served as an equity research associate.
Tocqueville Asset Management
John Petrides has joined the firm as a portfolio manager in its wealth management group.
He will work with the group in all facets of its business, with specific focus on managing equity and balanced strategies.
Pertrides was most recently managing director and portfolio manager at Point View Wealth Management.
