Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Practice Management > Building Your Business > Recruiting

Recruiting Roundup: $400M Merrill Broker Goes Indie With Dynasty

Your article was successfully shared with the contacts you provided.

An advisor with some $400 million in client assets has left the Merrill Lynch Private Bank and Investment Group to start a new independent advisory firm in partnership with Dynasty Financial.

Miguel Sosa, who was with Merrill since 1982, recently launched Premia Global Advisors, in Coral Gables, Florida, near Miami. He is joined by Juan Landivar, manager of financial planning, and Eddy Park, client relationship manager, who also departed from Merrill Lynch.

“Miguel and his team have a strong track record working with institutions and families in Latin America, Europe and around the world on a broad array of complex financial issues,” said Shirl Penney, president and CEO of Dynasty, in a statement.

LPL-Affiliated Firm Partners With Ohio Bank to Boost Wealth Management

Meanwhile, LPL Financial says Cortland Savings and Banking Co. of Ohio is teaming up with Ellsworth Private Wealth Management, an LPL affiliate, to boost the bank’s wealth services using LPL’s advisory platform.

The newly launched program, Cortland Private Wealth Management, includes five advisors. Ellsworth principals Timothy Clepper and Kelly Kuennen will work with the institutional clients and middle-market business banking customers.

“The relationship between Ellsworth and Cortland Banks demonstrates how the flexibility of LPL’s independent platform can create opportunities that help our clients grow their businesses,” Craig Kamis, LPL senior vice president, institution recruiting, said in a statement.

“It also is a great example of how a bank can leverage a wealth management program to create growth opportunities. We look forward to supporting these clients with the tools and resources that will enable them to help their clients work toward their financial goals.”

SagePoint Recruits

Phoenix-based SagePoint Financial – part of the Advisor Group – says advisor groups with close to $500 million in client assets have become affiliates.

In Sparta, New Jersey, Elite Retirement Consultants formed a relationship with the broker-dealer, bringing more than $200 million in client assets; ERC was formerly associated with Cadaret, Grant.

ERC, which has seven advisors and one office of supervisory jurisdiction (OSJ), has multiple satellite offices within the state and plans to expand to California in 2016.

In Albany, Oregon, Greg Krpalek brought his 30-year-old firm, Krpalek Financial Services, to SagePoint, along with more than $100 million in client assets; his firm was formerly affiliated with First Allied Securities, which is part of Cetera Financial.

And in Sarasota, Florida, Jonathan and Jonna Keller left Sigma Financial Corp. to sign on at SagePoint, bringing more than $120 million in total client assets and approximately $1.1 million in yearly fees and commissions.

SagePoint’s network consists of nearly 1,700 advisors currently managing more than $37 billion in total client assets.

RFG Expands Headquarters

In Birmingham, Alabama, RFG Advisory Group announced a headquarters expansion, with six advisors moving from its Meadowbrook office to the Birmingham office. In addition, it has named Shannon Spotswood president; Spotswood will be responsible for helping pursue future expansion.

Spotswood, who most recently was CFO of children’s clothing company Busy Bees, joins RFG after working in portfolio management, strategic consulting, M&A marketing and financial analyst positions with San Francisco-based hedge funds Symphony Asset Management and EGM Capital and investment bank Volpe Brown Whelan (acquired by Prudential in 2002). She will report directly to Bobby White, chairman and CEO.

Other Moves

In San Antonio, Emmett Johnson joined Pensionmark Financial Group’s WDPensionmark office as a new partner and wealth manager. Johnson was formerly with Independent Financial Partners.

Focus Financial Partners says Denver-based registered investment advisory firm Carnick & Kubik has joined its partner network. In 2011, brothers Nathan and David Kubik bought Colorado Springs-based independent RIA Carnick & Co. from Craig Carnick, lead principal; Carnick now serves as president and chief compliance officer, and in addition to its Denver headquarters, the firm also has a Colorado Springs office.

Vest Financial welcomed Steve Neamtz as senior managing director, in which position he will pursue the firm’s expansion of protection-oriented offerings into asset management. Neamtz previously served as head of distribution at Natixis, AIG SunAmerica and Virtus.

— Read the March 30 Recruiting Roundup on ThinkAdvisor.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.