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Retirement Planning > Retirement Investing

Recruiting Roundup: Pensionmark Draws $1B Group to Network

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Pensionmark says a group that works with retirement and benefit plans and has over $1 billion in client assets is now an affiliate.

Meridien Financial Group, which offers consulting, investment and others services to plan sponsors of 401(k), 403(b), pension and other qualified retirement plans, as well as nonqualified executive and corporate benefit plans, joined its network in Providence, Rhode Island. It has more than 400 corporate clients in New England.

“Pensionmark offers us leading technology, enhanced tools and excellent fiduciary solutions needed to better serve our clients,” said Michael Balasco, principal and president of Meridien, in a statement.

“We are excited to work with … Pensionmark, especially in sharing best practices that we can in turn provide to our retirement plan clients,” Balasco explained.

Other Moves

Meanwhile, Integrated Inc. Wealth Advisors has signed on to use National Planning Corp.’ broker-dealer and advisory platforms.

Integrated, an independent financial advisory practice based in Edina, Minnesota, has about $255 million of commission- and fee-based advisory client assets. It will align with the office of supervisory jurisdiction run by Douglas Ritter, a National Planning Corp.-affiliated entity, for additional back- and middle-office support services.

“We are pleased that after their extensive search for a new broker-dealer, the Integrated team has chosen to transition to NPC,” said John Johnson, president and chief executive officer of NPC, in a statement.

“We look forward to providing Integrated with the freedom they were seeking to provide their clients with outstanding independent advice and product solutions they can sincerely believe in,” Johnson said.

In addition, Ladenburg Thalmann-owned (LTS) Securities America says it is now the affiliated broker-dealer for the newly formed Midtown Financial Advisors of Greensboro, North Carolina.

The new firm, founded by independent advisors Rick Raiford, Jeff Phillips, Brad Smith and Chuck Furr, has about $250 million in assets under management and a total yearly revenue (or fees & commissions) of $2 million. Its advisors are licensed in 17 states.

“During our planning stages, we set out to find a broker-dealer that would meet everyone’s individual needs and help us achieve our vision,” said Raiford in a statement. “After an exhaustive search, we chose Securities America. We expect a long-term relationship that will empower us to grow our AUM within our existing books of business as well as through mergers and acquisitions.”

More Developments

Capital One Investing has added six new financial advisors, four to its new Advisor Connect team in Wilmington, Delaware, and two in Capital One Investing branches in Louisiana, over the 18 months.

Theda Jackson, Bennie Hargrove, John Rhett Garner and Christine Briganti will be based in Wilmington. Jackson joined from First Allied Securities (which is part of the Cetera Financial Group); Hargrove from Edward Jones; Garner from JP Morgan Private Bank; and Briganti from Women and Planning, a firm which she founded.

Mike Halphen, who will be regional sales manager for northern Louisiana and will be based in Lake Charles, also moved to the group; in the past he has worked for MetLife, Wells Fargo, Citigoup, Morgan Stanley and other firms. Adam Greene, who will be vice president of financial advisor services in Baton Rouge, came on board from Hancock Investing Services, the investment arm of Hancock & Whitney Bank.

— Read the Aug. 25 Recruiting Roundup on ThinkAdvisor.




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