Palisades Hudson Financial Group LLC, Scarsdale, N.Y., has named Paul Jacobs, CFP, its new chief investment officer, topping a list of personnel additions and promotions as the firm prepares to expand to the West Coast this month.
In addition to his CIO role, Jacobs continues in his current post as manager in charge of the firm’s Atlanta office. He started with Palisades Hudson in Scarsdale in 2002, and later was a manager in the firm’s Fort Lauderdale, Fla., office before establishing the Atlanta presence in 2008.
Jacobs has been a member of Palisades Hudson’s Investment Committee since 2005 and its chief compliance officer since 2009. He succeeds Jonathan Bergman, who left the firm this month, as CIO. Linda Elkin, Palisades Hudson’s director of marketing and human resources, who oversaw Bergman’s marketing efforts, will assume direct responsibility for marketing.
Another 10-year Palisades Hudson veteran, David Walters, CFP, CPA, will establish the firm’s West Coast presence with his relocation to metropolitan Portland, Ore., on Aug. 21. Walters began his career in Scarsdale and has been a client service manager in Fort Lauderdale since 2007.
Anna Pfaehler, CFP, succeeds Jacobs as the firm’s chief compliance officer. She is a client service manager in the Scarsdale office, where she joined Palisades Hudson in 2006.
Ben Sullivan, CFP, a client service manager based in Scarsdale, will join the firm’s Investment Committee, whose five members currently oversee more than $1.1 billion in client assets under management.
In other industry news:
The Principal Financial Group, Des Moines, Iowa, has reached an agreement to acquire First Dental Health. Upon closing, expected in October 2012, First Dental Health will become a member of the Principal Financial Group.
First Dental Health, a California-based independent dental preferred provider organization (PPO), includes more than 11,000 credentialed dentists with locations in California, Arizona and Nevada.
The Principal’s dental network serves more than 27,000 employers across all states, plus the District of Columbia. Principal dental products offer covered employees and their dependents flexible, comprehensive plan designs that focus on preventive care.
Closing of the transaction is subject to regulatory and other approvals.
The Penn Mutual Life Insurance Company, Horsham, Pa., has hired Brian K. Breneman as managing director of 1847Financial, its Philadelphia agency, led by Jim Meehan, managing partner. Breneman will help the agency grow its business in the Greater Philadelphia region and into the Central Pennsylvania market.
Breneman most recently served with New England Financial for seven years as senior vice president. He was responsible for the company’s distribution channel, which included more than 2100 representatives in 35 sales offices across the country. Prior to that, he was regional vice president for MetLife, where he started his career in the field in 1987.