Independent advisors were on the move in the period leading up to July 4.
Newport Beach, California-based Corient Capital Partners brought in Robby Saggu as a managing director. Saggu joins from Goldman Sachs, where he was a private wealth advisor in both San Francisco and Los Angeles.
Corient Capital Partners is part of the Dynasty Financial Partners’ network and uses its platform for independent advisors.
“We are delighted to welcome Robby to Corient. He is an advisor with tremendous experience and an impeccable resume,” said Darren Henderson, a partner at Corient Capital Partners, in a statement. We are proud to expand our team as our business experiences significant growth. Robby’s addition reaffirms that we are committed to offering the very best advice and solutions to our clients.”
In Irvine, California, Retirement Benefits Group – an RIA that uses LPL Financial’s hybrid platform – has added two advisors, formerly of TriEqua Wealth Management of Tustin, California: William Caldwell and Brian Murphy.
Caldwell first entered the financial services industry in the early-1970s and founded TriEqua in 1983; he ran the firm as an independent broker-dealer until he joined the LPL platform in 2008. Murphy has worked on both qualified and nonqualified retirement plans and plan management, as well as family and corporate succession planning and insurance.
“We are excited to welcome Bill and Bryan to our team,” said Michael Castner, RBG partner, in a statement. “They add several more decades of retirement plan experience to our already well-seasoned team of advisors that will help us educate all of our clients about the best path to a fruitful retirement.”
“I wanted to make a move to get out of a supervisory role, but one that would allow me to continue to provide my clients with the same level of service they’ve come to expect from me over the years,” explained Caldwell in a statement. “RBG’s people and their philosophy of customer service are making this a smooth transition for all of my clients.”
Deutsche Bank Adds Wealth Planning Head
Deutsche Bank Wealth Management announced that Sam Petrucci joined the firm in a newly created role as Head of Wealth Planning in the Americas.
Based in New York, Petrucci is a managing director and reports to Andrew Gallivan, Head of Trust and Wealth Planning and interim co-head of Wealth Management in the Americas. Petrucci will be responsible for leading a team which provides top-level wealth planning expertise to ultra-high-net-worth individuals and for spearheading the development of a comprehensive suite of advisory solutions.
“We are thrilled to welcome Sam to Deutsche Bank Wealth Management,” Gallivan said. “His extensive expertise in working with ultra-high-net-worth clients in providing comprehensive planning solutions and advice will complement our existing team and will help us better serve our clients and the market.”
Petrucci has nearly two decades of experience in the wealth management industry with extensive expertise in advising clients in estate planning, tax planning, life insurance, philanthropy and wealth education. He joins Deutsche Bank Wealth Management from Credit Suisse where he was a managing director and head of the Wealth Planning Group within Private Banking North America. Petrucci came to Credit Suisse in 2000 after the bank merged with Donaldson, Lufkin & Jenrette.
Sequoia Merges With RAV Financial in Ohio
Meanwhile, Akron, Ohio-based Sequoia Financial Group says it is merging with RAV Financial of Beachwood, Ohio. The combined firm expects to have assets under advisement in excess of $3 billion and more than 60 employees. RAV Financial says it will adopt the Sequoia name on Oct. 1.
“Our focus on client service is one of the factors that RAV cited as making us their most logical choice. We have great respect and admiration for the commitment, friendship and trust the professionals at RAV have with their clients and we are honored to have been chosen to help them continue it,” said Tom Haught, president of Sequoia Financial Group, in a statement.
“Since our inception, RAV has built a team-approach model to facilitate continuity of services to our clients. Philosophically, every business owner seeks a vital successor that will continue its mission statement – and we have found that in Sequoia. RAV has always focused on our clients’ needs and successes, and those objectives are intrinsic with our combined company cultures,” explained RAV CEO Robert Valente in a statement.
Both firms say that their independent advisors serve on Charles Schwab’s National Advisory Board, Fidelity National Advisory Board, ValMark Securities National Advisory Board and Schwab’s Retirement Business Services Trust & Custody Advisory Board.
Ohio Firm Adds Planning Director
Finally, Strategic Wealth Partners of Independence, Ohio, welcomed Kenneth Sable as its director of planning. Sable has worked in law for accounting and tax advisory firms. In his new post, he will serve business owners in need of both financial and succession plans.
— Read the June 22 Recruiting Roundup on ThinkAdvisor.