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Recruiting Roundup: Dynasty, Triad Pick Up Large Advisor Groups

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Dynasty Financial Partners has recruited Concannon Wealth Management, an independent registered investment advisor with $400 million in client assets based in Bethlehem, Pennsylvania.

The RIA is led by Brad L. J. Griswold and includes four other advisors: Katherine M. Brown and Dennis Morton Jr., who are partners, as well as Seth G. Lindner and William Velekei.

“As an independent firm for 25 years, we were among the leaders in implementing open architecture to best serve our clients’ needs, starting in 1995 — well before this became common practice in wealth management,” said Griswold in a statement.

“Now, working with Dynasty Financial Partners, we are positioning our firm for future expansion and we will be capitalizing on advances in technology and investments on behalf of our clients,” he explained.

Meanwhile, Coeur d’Alene, Idaho-based Pinkerton Retirement Specialists has transitioned to independent broker-dealer Triad Advisors, which is owned by Ladenburg Thalmann (LTS), the parent company of Securities America.

Pinkerton, with $627 million in client assets, was founded more than 29 years ago by Dan Pinkerton, president and CEO.

“We were … attracted to Triad’s relationship with Ladenburg Thalmann, which gives us access to investment banking, initial public offerings, private placements and other sophisticated investment products that are only available to accredited investors,” Pinkerton said in a statement.

Bank of America Recruits

Paul Morris has left Deutsche Bank’s private bank behind to become a managing director and private wealth advisor in the Private Banking and Investments Group at Bank of America Merrill Lynch (BAC). Morris, with more than 20 years of financial industry experience, will be based in the New York office of PBIG.

“Given the significant growth in the ultra-high-net-worth market and the increasing need for integrated planning and investment services, we are thrilled to be able to add an advisor of this caliber to the PBIG team,” Mollie Colavita, regional director of the New York PBIG, said in a statement. She added, “We believe that his clients will benefit from the market-leading wealth management services at Merrill Lynch.”

In addition, Bank of America-owned U.S. Trust recently brought on several private client advisors across the country.

The new hires include Danielle Conkling, joining the Palo Alto, California office from JPMorgan Chase & Co., where she was a private banker; William Fritz, joining the Chicago office, and Marvin Anderson, joining the St. Louis office, both formerly private bankers at J.P. Morgan Private Bank; Timothy Quinn, joining the Florham Park, New Jersey, office from GAMCO Asset Management Inc., where he worked in institutional and consultant relations; Brian Hungerford, joining the Greenville, South Carolina, office from Wells Fargo, where he was a commercial banker; and Mary Carswell, joining the Nashville office from Credit Suisse Securities, where she was a private client advisor.

In addition, Yolanda McLeod Terry joined U.S. Trust’s Winter Park, Florida, office as a private client manager; she was formerly a wealth manager at SunTrust Banks.

Other Developments

Tim Lewis has joined Kestra Private Wealth Services as director of business development. San Diego, California-based Kestra is an RIA subsidiary of Kestra Financial (formerly NFP Advisor Services).

Lewis, formerly vice president of institutional sales at Fidelity Investments, brings more than 20 years of industry experience.

“I look forward to joining the mission of championing independent advisors and providing them with a seamless transition to a firm committed to providing integrity-centric services and state-of-the-art technological solutions,” Lewis said in a statement, adding, “Together with the executive team at Kestra PWS, we will empower established advisors and help them succeed.”

— Read the Aug. 10 Recruiting Roundup on ThinkAdvisor.


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