Wells Fargo Advisors (WFC) has added a team in Paramus, New Jersey.
Brian Latz, John Cicillini and Kenneth Cariota come to the branch from Morgan Stanley, where they most recently managed more than $427 million in combined client assets. The three now report to Wells Fargo branch manager William George and Tim Sheridan, market manager for the New Jersey Highlands market.
Also in New Jersey, Cordua, Pastore & Associates, which has served the Cherry Hill area for 25 years and has 14 employees, is merging with HBK CPAs & Consultants of Canfield, Ohio.
“This merger provides opportunities for our professionals to better serve their clients from both a depth-of-service perspective and in terms of industry niche expertise,” said Peter Cordua, CPA and managing principal for Cordua, Pastore & Associates, in a statement.
“Although we spoke with several large firms about the possibility of joining them, HBK stood out because of their approach: local office service delivery with large regional firm resources,” explained Vincent Pastore, CPA and director of taxation for Cordua, Pastore, in a statement. “This benefits our clients and our team in a way that wasn’t possible for us as a local firm.”
United Capital News
United Capital Financial Advisors says it has expanded into Connecticut with the acquisition of the private client group of Westport Resources Management. Westport Resources, an RIA, brings roughly $373 million in assets under management to its new partner.
The group will be renamed Westport Resources, a division of United Capital, and the firm’s CEO and founder, John Vaccaro, has joined United Capital as a managing director. In conjunction with the acquisition, Westport Resources Investment Services, an affiliate of Westport Resources, will continue to operate as a separate entity.
“This acquisition will strengthen United Capital’s presence in New England and advance its position as a nationwide leader in financial life management,” Matt Brinker, head of national partner development at United Capital, said in a statement.
Strategic Financial Developments
Strategic Financial Alliance, a privately owned independent broker-dealer and RIA, says Carnegie Wealth Management of Exton, Pennsylvania, and Carlyle Wealth Management of Atlanta have transitioned to its broker-dealer and RIA platforms. Together, the two independent financial advisory firms bring a total of $350 million in client assets.
“We are delighted to welcome both Carnegie Wealth Management and Carlyle Wealth Management to the SFA community, and look forward to providing them with the personalized services and innovative, open-architecture investments that will help them grow their businesses and fulfill their clients’ long-term financial goals,” said CEO Clive Slovin, in a statement.
Located outside Philadelphia, Carnegie Wealth Management was founded in 1985 by its chairman, Roy A. Johnston, who runs Carnegie today along with business partner CEO Matthew D. Kelly.
“We’re enthusiastic about our transition to SFA, with its boutique culture, careful due diligence of investment products, and unique, advisor-owned community. Many of our clients have already expressed to us their keen interest in some of the carefully targeted solutions that we will now be able to bring to their diversified investment portfolios,” explained Johnston in a statement.