Triad Advisors, a hybrid advisor-focused independent broker-dealer, says a group with 11 advisors and some $5 billion in client assets is now affiliated with its platform: Resources Investment Advisors, a super OSJ, is based in Overland Park, Kansas, and formerly was affiliated with LPL Financial.
“We’re delighted to welcome Resources Investment Advisors to Triad’s broker-dealer and hybrid-RIA platform,” said Nathan Stibbs, chief strategy officer at Triad Advisors, in a statement. “This is a unique organization that has an impressive track record of growth and is one of the premier retirement planning providers in the industry.”
Resources Investment Advisors is an SEC-registered investment adviser that offers compliance, practice and portfolio management, technology support, and business development assistance to its affiliated firms: Bukaty Companies Financial Services (Overland Park); Channel Financial (Golden Valley, Minnesota); Chepenik Financial (Winter Park, Florida); Oakeson Steiner Wealth and Retirement (Hastings, Nebraska); SHA Retirement Group (Troy, Michigan); and SLW Retirement Plan Advisors (Lafayette, California), as well as offices in Austin, St. Louis, Spokane, Washington, and Fort Lauderdale, Florida.
Headquartered in Atlanta, Triad Advisors a wholly owned subsidiary of Ladenburg Thalmann Financial Services.
Echelon Partners says the former head of LPL Financial’ s consulting group is now working for the firm as a new managing director. Carolyn Armitage joined the Manhattan Beach, Calif.-based M&A firm earlier this year.
Armitage had been with LPL since 2013. During her time with LPL, she had referred clients to Echelon for business evaluation. LPL eliminated the enterprise consulting division last year, Armitage says, making a move to Echelon “a natural fit.”
“It’s my first venture moving onto the truly independent platform,” she explained in a statement. “Echelon is transforming consulting and M&A through a total platform approach.”
Executives with Echelon expect the hectic pace of M&A activity in the advisory field to continue.
“We’re experiencing record activity in the RIA and wealth-tech sectors,” said Echelon CEO Dan Seivert, in a statement. “Never before has there been as much change happening in wealth management than today. We are excited to be aggressively adding top-tier team members to meet that increased demand.”
Also joining Echelon are analysts Edward Janisch and Andrew Sova; Janisch moved to the firm from JP Morgan Chase, while Sova recently graduated from Claremont McKenna College.
Cambridge Investment Group says Michael J. Riordan has been promoted to the post of vice president of Fiduciary Services and Corporate Legal Counsel. Riordan’s responsibilities will include providing legal oversight for the Fiduciary Services Department while serving as one of Cambridge’s corporate attorneys.
Riordan joined the firm in July 2012 as a director and corporate counsel. Earlier, he worked for the investment banking firm Chicago Corporation and Pershing-Bank of New York Mellon.
Cambridge includes Cambridge Investment Research, an independent broker-dealer with 3,000 affiliated advisors.
Private Equity Addition
GTCR, a private equity firm, says it hired Jim Bonetti as head of the Capital Markets Group. Earlier, Bonetti was a co-head of the North American Leveraged & Acquisition Finance Group at Morgan Stanley.
In this role, Bonetti managed a team focused on non-investment grade debt transactions and also served as head of the North American Syndicate Desk, where he was responsible for managing the pricing, distribution judgments and execution for all non-investment grade loan and high yield transactions.
“Our Leaders Strategy approach to investing drives significant portfolio company transformation through frequent add-on acquisition activity, and our investments take on a wide range of size and profile. This requires a sophisticated approach to the market and flexibility across different capital structure alternatives as well as deep and collaborative relationships with our financing partners,” said Craig Bondy, a managing director at GTCR, in a statement. “We are very excited to add Jim to our team as an important investment in our future growth and capability.”
Since its inception, GTCR has invested more than $12 billion in over 200 companies.