Both boutique and major wealth management firms say they’ve suuccessfully recruited both independent and empolyee advisors over the past few weeks.
Lebenthal Wealth Advisors of New York said early Monday that it added a team of advisors to its operations.
The Goldstein-Patterson Group managed more than $600 million in client assets at BNY Mellon, specializing in clients within the sports and entertainment industries. GPG founders Brendan A. Goldstein and William F. Patterson, formerly private bankers, have joined Lebenthal as managing directors.
“Brendan and William exemplify the kind of dynamic and astute advisors whose values and vision perfectly align with those of Lebenthal,” said Lebenthal Wealth Chairman and CEO Frank Campanale, in a press release. “They recognize that our strong corporate culture and boutique approach will enable them to provide unconflicted investment advice and superior client service.”
“We are joining Lebenthal Wealth Advisors to be part of an organization that effectively understands the evolution of the wealth management industry,” explained Patterson, in a statement. “Lebenthal’s business model is compelling to any financial advisor seeking to become more strategically focused on client-centric values.”
Goldstein said, “We are excited to bring our experience to such a dynamic platform and to help grow a next-generation wealth management firm.”
- Len Clarizio and Tony Sciuto joined from American Portfolios Financial Services. Their practice is located in Woodland Park, N.J., and they have about $114 million in assets.
- Louis Cilberti also moved to Ameriprise from American Portfolios Financial Services. His practice is located in Melville, N.Y., and he manages about $150 million in assets.
- Scott Codacovi came on board from Park Avenue Securities in Manasquan, N.J., and has about $100 million in AUM.
Dynasty Financial Partners of New York said a group of four newly independent advisors has formed Arbor Trust Wealth Advisors and will be working with its wealth management platform.
Financial advisors Charles Waterhouse, James Winslow, Carol Sewell and Gary Haapala all join Arbor Trust Wealth Advisors from United Bank & Trust. The four advisors collectively manage more than $350 million in client assets.
“Arbor Trust Wealth Advisors was created to provide sophisticated investment and estate planning advice to our highly educated community,” said Haapala, in a statement. “As an independent financial and investment planning firm, we want to provide our clients — professors and administrators, physicians, entrepreneurs and others — with complete objectivity and transparency.”
The group will access Dynasty’s investment and technology platform, including the RIA middle office Core Services platform. Charles Schwab will provide primary clearing and custody services for the team.
“Charlie, Jim, Carol and Gary are extraordinary investment advisors with a deep commitment to their unique Southeast Michigan community,” said Shirl Penney, President and CEO of Dynasty Financial Partners, in a press release. ”Dynasty has increased its commitment to the Midwest and devoted resources to support leading teams such as Arbor Trust who are seeking independence.”
Raymond James (RJF) said Thursday that advisors Matthew Rogers and Mark Christopher Norton moved to the firm’s employee channel from UBS (UBS) in Portland. The team, known as Rogers Norton Wealth Management Group of Raymond James, has managed more than $200 million in client assets and had annual fees and commissions of about $1.9 million.
“We are excited to welcome Matt and Chris to Raymond James,” said Bill Roney, director of the Great Lakes division of Raymond James & Associates (RJA), in a press release. “With more than 30 years of combined experience and commitment to a long-term, client-first approach, they are a great addition to our firm, and we look forward to supporting them as they grow their business.”
Rogers started his career in 1991 with Fidelity Brokerage Services before becoming a financial advisor at Prudential Securities in New York. In 1996, he joined UBS Financial Services, where he worked as a senior vice president and senior portfolio manager in Portland.
Norton began his 12-year financial services career as a quality analyst for J&W Seligman in 2002. He joined UBS Financial Services in 2006, where he worked as a branch analyst, vice president and portfolio manager in Portland.
“For Chris and me, joining Raymond James was all about the firm’s client-focused mentality, as well as the technology and resources available to us,” said Rogers, in a statement. “The combination of strong senior leadership, grounded company values and advanced technological infrastructures will help us provide personalized service to our clients, while establishing ourselves as leaders in the market.”
Wells Fargo Advisors (WFC) announced Wednesday that two advisor teams were recently recruited from Morgan Stanley.
Financial advisors Steven T. Lundgren, CFP, and Phillip Hurner, CFP, have joined Wells Fargo in Walnut Creek, California, after nine years at Morgan Stanley. They have been managing a combined $214 million in client assets.
Lawrence “Larry” Rudolph and Stanley Levine came on board Wells Fargo Advisors in Short Hills, N.J. Previously, they managed a total of $253 million in client assets.