M&A
Wealth Enhancement Group
The independent wealth management firm has acquired Financial Wealth Management, a hybrid registered investment adviser (RIA) firm based in Madison, Wisconsin.
Financial Wealth Management consists of the father-son adviser team of founder Dan Hyland and senior vice president Kyle Hyland.
The practice offers comprehensive wealth management services, including retirement and financial planning for individuals and small businesses.
The financial terms of the transaction, which is expected to close in the fourth quarter of 2020, were not disclosed.
Fischer & Company
The Hightower subsidiary will merge with Stralem & Company, a wealth management firm in New York, to create the newly combined Hightower advisory business, Fischer Stralem Advisors.
Stralem’s Hirschel Abelson, Adam Abelson, and Andrea Lustig will join Fischer’s Alan Fischer and David Choe as partners of Fischer Stralem Advisors.
It will have 13 employees, including five advisers, serving high net worth and ultra-high net worth clients and institutions.
The financial terms of the deal were not disclosed.
Guardian Capital Group
The firm has agreed to buy the Canadian wealth business of BNY Mellon Wealth Management.
The acquisition adds more than $5.5bn (£4.1bn, €4.5bn) of assets under advisement to the firm
The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2021.
People moves
BNY Mellon Wealth Management
The wealth firm has named Laura Kaplan as market president in Miami, Florida, where she leads the region’s wealth management practice.
She joins BNY Mellon from Bank of America Private Bank, where she served as managing director and senior private client adviser.
Peapack Private
The wealth management division of Peapack-Gladstone Bank has hired Ralf Sellig and Rob Vogel from Lucas Capital Management along with their full team.
Sellig has been with Lucas Capital since 2006 as a portfolio and risk manager.
Vogel joined Lucas Capital in 2008. His responsibilities include portfolio management, energy-income research, and supporting Lucas’ private investments.
Joining the duo are Brett Flynn, Bruce Severance and Kathleen Heine.
First Citizens Bank
David Biliter has joined the company as president of its registered broker-dealer First Citizens Investor Services (FCIS).
Biliter most recently served as executive vice president and director of sales for Arvest Wealth Management.
Cerity Partners
The independent financial advisory firm has hired Algonquin Advisors and Worldview Wealth Advisors.
These firms expand Cerity Partners’ presence in the northeast and northern California.
Algonquin Advisors, founded in 1998, is a Greenwich, Connecticut-based firm led by founder George Hubbard and chief executive John Hyman.
The firm’s seven professionals join Cerity Partners.
Worldview Wealth Advisors, founded in 2005 by president Andrew Fisher, adds five San Francisco-based colleagues to Cerity Partners.
The firm specialises in cross-border financial planning for both Americans living abroad and foreign citizens living in the US.
UBS Private Wealth Management
Jeff Lewis, Steve May, and John McColskey have joined the firm as managing directors and financial advisers in Atlanta, Georgia.
Also joining UBS are Jessie Searles and Mary Bennett, who will serve as relationship managers, as well as portfolio associate John Lindsey.
They all join from JB Morgan Private Bank.
Fiduciary Trust International
The global wealth manager and wholly-owned subsidiary of Franklin Templeton has hired Darlene Marchesani as director of Delaware trust administration and trust counsel, based in its Wilmington office.
Marchesani was most recently trust counsel and managing director of Delaware trust services at Evercore Trust.
Alex Brown
The Raymond James subsidiary has hired client adviser Mark Pomerantz in Los Angeles.
He joins Alex Brown’s Los Angeles office from Morgan Stanley.
Raymond James
The wealth firm has hired financial advisers Richard Sjostedt, Robert Rice, Brian Robertson, and registered branch professional Steven Diehl to its offices in Mansfield, Ohio.
The advisers join Raymond James from Merrill Lynch and they operate as Platinum Family Wealth.
