RBC Wealth Management has added two teams of financial advisors in Fort Lauderdale.
One team is the Haring Group, a father-and-son advisor team that joined from Morgan Stanley. William Haring, first vice president, and Bradley Haring, financial advisor, have about $124 million in assets under management and close to $1 million in production.
The second team is made up of Scott Ramo, senior vice president, who joins from Raymond James, and his wife, Valerie Ramo, who will serve as a senior financial associate. Ramo will become a part of the CKM Wealth Management Group of RBC, which will have combined assets of $300 million and production of about $2.4 million.
“We are excited to welcome these two teams to RBC Wealth Management,” said Kirstin Turner, director of the Florida complex, in a statement. “Their industry knowledge and experience make them great fits, as we grow and expand RBC Wealth Management’s presence in southern Florida — an important market for the firm.”
Meanwhile, Deutsche Bank Wealth Management expanded its private banking team with the addition of Russell Daulton, managing director, who will serve in the newly created post of San Francisco market manager. Daulton will report to Lee Hutter, head of the U.S. western region.
In addition, Susan Rounds joined the private bank as director and wealth planner for the western region, based in Los Angeles; she will report to Sam Petrucci, head of wealth planning in the Americas.
Daulton has more than 35 years of experience in private banking, and has worked at Deutsche Bank for more than a decade. He most recently served as senior private banker in Deutsche Bank’s wealth-management business in San Francisco.
Rounds joins from Morgan Stanley Wealth Management, where she was an executive director of ultra-high-net-worth resources and regional advanced planning director.
“Russ and Susan bring extensive experience to the team serving UHNW clients, including venture capitalists and technology entrepreneurs,” said Hutter in a statement. “The U.S. western region will be integral in driving our business forward in focusing on meeting the evolving wealth management needs of the technology industry and providing innovative solutions for those needs.”
Cetera Advisor Networks, one of Cetera Financial Group’s independent broker-dealers, has recruited Cornerstone Advisors to its brokerage platform.
AdvisorNet Financial, one of Cetera Advisor Networks’ independent regional director firms, will provide compliance supervisory, practice management, and other back- and middle-office services to Cornerstone, which will also use AdvisorNet’s platform for certain fee-based services that supplement Cetera’s advisory offerings.
Cornerstone, with about $150 million in advisory and brokerage assets as of July 20, is based in Baxter, Minnesota, in the Brainerd Lakes region. It provides both commission- and fee-based holistic financial planning for retail clients comprised primarily of mass-affluent retirees and pre-retirees located in Minnesota and the Midwest. The firm is led by James Benson II, a veteran advisor, and has a total of eight professionals, including advisors and support staff.
Snowden Lane Partners has recruited former Merrill Lynch first vice president and advisor Sam DeGennaro to its New Haven, Connecticut office. DeGennaro, who will be a partner and managing director, merge his $180 million practice with the now-$1 billion Guth/Fordyce Group and will work alongside a team of nine professionals, led by partners and managing directors Kevin Guth and Steve Fordyce.
DeGennaro, who was formerly a practicing accountant and certified public accountant (CPA), brings to the group expertise in tax planning, business and retirement plan consulting as well as financial planning.
Minella Capital Management says that it will acquire a majority stake in W.E. Donoghue & Co., a Norwood, Massachusetts-based registered investment advisor specializing in tactical strategies with over $1.6 billion in client assets. WEDCO’s tactical asset allocation strategies are offered via separately managed accounts and two funds, and primarily employ proprietary indexes developed in conjunction with S-Networks Indexes and S&P Dow Jones Indices LLC.
Reverse Mortgage Funding LLC, a finance company focused exclusively on the reverse mortgage industry, has announced the appointment of Tom Dickson as national leader of its financial advisor channel. Dickson will be responsible for managing RMF’s “Retirement Experts Network,” an online educational platform designed to help financial advisors learn more about retirement issues.
Dickson, along with several RMF executives, was part of the MetLife Bank team that secured the funding that supported the academic research at Texas Tech University, conducted by Harold Evensky, John Salter and Shaun C. Pfeiffer, that evaluated the use of a reverse mortgage.
Chicago-based Nepsis Capital Management brought in Ken Harpell as vice president of advisor services in its Minneapolis office, where he will be responsible for managing the existing advisor group while looking for opportunities to grow that segment of the firm’s business. Earlier, Harpell was director of broker relations at MNsure.
Read the July 14 Recruiting Roundup at ThinkAdvisor.