Two broker-dealers have added financial advisors from Bank of America-Merrill Lynch with over $285 million in client assets.
Janney Montgomery Scott said it just recruited a team from Merrill Lynch to its New York operations. Noah Doyle, Charles Princiotto and Sean Martin will join veteran Janney financial advisors Stanley Hochhauser and Alice Coraggio in forming Battery Park Financial Partners at Janney Montgomery Scott.
Doyle, who will lead the group, manages over $150 million in client assets in conjunction with Princiotto. Hochhauser and Coraggio manage over $200 million.
“Stanley has been one of Janney’s top financial advisors for over 15 years due to his expansive industry knowledge and commitment to his clients. His decision to partner with Noah and Charles will only enhance the level of services they collectively can provide to present clients and future,” said Jerry Lombard, president of Janney’s Private Client Group, in a statement.
“Noah and his team bring a refreshed approach to our core values of developing deep client relationships and providing comprehensive financial planning. After meeting with them, it was clear I had found the right partners,” said Hochhauser, in a statement.
“For decades, I have enjoyed what I do, and with retirement being a future reality, our multi-generational team is now in place to provide a succession structure as we continue to help our clients preserve their legacy and provide for future generations,” he added.
Hochhauser has more than 50 years of experience in the industry, while Coraggio has over 17.
“While we believe that our partnership with Stanley will add to the level and quality of personalized services that we can provide to our clients, at the end of the day, Janney’s platform is best suited for our business model and where we know the industry is headed,” according to Doyle.
In addition to leading Battery Park Financial Advisors, Doyle currently serves as chair of the board at Bronx Community Charter School and is the founder and president of the North Fork TV Festival.
Princiotto holds the CFP designation. He is co-founder and director of the Kids Dream Big Foundation.
“With this inflow of fresh talent aligned with our core values, we can now set our sights on the bright future ahead,” added Hochhauser. “Our dedication to providing individuals and families with the highest level of service has never been stronger, and the formation of Battery Park Financial Partners underscores our respective commitments to these key underlying goals.”
Philadelphia-based Janney has over 760 advisors nationwide with about $71 billion in total client assets.
Raymond James' Addition
Raymond James says it recently recruited Patricia Bennet, CRPC, to the Louisville, Kentucky, office of its employee channel.
Bennett’s practice, Creekstone Financial, has about $138 million in client assets and yearly fees and commissions that top $1 million. She moved to Raymond James with business coordinator Heather Poole and associate Kristen Swanson.
The advisor spent about a decade working in the corporate world before starting her financial-services career in 2002 at Smith Barney. She switched to Merrill Lynch in 2007.
“I have known Patricia for many years and have the highest regard for both her integrity and commitment to serving her clients,” said Thomas Hirsch, the Louisville complex manager for Raymond James & Associates, in a statement
“Tom Hirsch recruited me initially to go to Merrill Lynch, so when he approached me about joining Raymond James I was certainly interested,” Bennett explained in a press release.
Working for a firm “that has an upbeat, positive culture, where clients really do come first, is refreshing,” she continued. “At Raymond James, ‘client-first’ is so much more than a catchphrase; it is a culture that pervades the very way clients are treated on a daily basis.”
Segall Bryant & Hamill, a Chicago-based investment firm, says Scott Roulston has joined the firm as director of wealth management. He has been in the business for over 20 years.
“We are very happy to welcome Scott into the SBH family,” said Phil Hildebrandt, CEO of SBH, in a statement. “He is a proven leader with a range of valuable skills and experience. We’re especially excited about his ability to continue the growth of our wealth management business and expand our offerings to better serve the unique needs of our clients.”
In the role, Roulston will assume leadership of SBH’s wealth-management business, which includes about $3.3 billion in assets under management. he replaces Brad Jones, who passed away unexpectedly in October 2016.
“I was really drawn to SBH’s focus on putting clients first, as well as the firm’s entrepreneurial culture and independent thinking,” said Roulston, in a press release. “I look forward to helping individuals and families gain access to the benefits of SBH’s world-class research and institutional-level investments—delivered in a way that’s tailored for each client.”
Prior to joining SBH, the financial professional was a managing director MAI Capital Management, a Cleveland-based registered investment advisor. Before that, he was CEO of Roulston & Company, a provider of investment research and management, as well as its successor firm, Fairport Asset Management.
Roulston also has served on several public and private corporate boards, including that of DDR Corp., the Ohio Police and Fire Pension Fund and Bluecoats, Inc.