A group that includes 10 financial professionals with some $3.5 billion in client assets and about $5 million in yearly fees and commissions has moved to Raymond James’ employee channel in Honolulu, Hawaii, from UBS.
The group, which operates as the Kikawa Group of Raymond James, includes Managing Director Ronald Kikawa; Senior Vice Presidents, Investments Karen K.Y. Yasukawa; Gregg Matsuura; Wesley K. Yamamoto, CFP; First Vice Presidents, Investments Susanne M. Millard; and Paul Yamashita, CFA. Other team members are Senior Financial Planning Consultant Kelly Kimura; Senior Investment/Portfolio Analyst Reid Kobashigawa; Registered Client Service Associate Ashley Caneso; and Client Service Associate Lindsay Kikawa Yoshiki.
“After extensive due diligence, we selected Raymond James because the firm will allow us to serve our clients as fiduciaries and in the manner they have come to expect,” said Kikawa, in a statement.
“We have many institutional clients including foundations, endowments and a significant number of Taft-Hartley Joint Trusteed plans, so being able to advise them and keep the managers they trusted was very important to us,” he explained.
Kikawa started his financial services career in 1976 with E.F. Hutton in Honolulu. In 1988, he moved to Kemper Securities, joined Smith Barney in 1996 and began work at UBS in 2007. Yasukawa has over 30 years of experience in the industry, having begun her career with Aetna Financial Services in 1986.
Matsuura began his work in the business in 2000 at Smith Barney, where he teamed up with Kikawa and Yasukawa. Yamamoto started his career with Prudential Securities in 1996, spent 15 years with Wells Fargo and then joined the team at UBS in 2010.
Millard has almost 30 years of financial services experience, having begun her career with Merrill Lynch in 1978, joining Smith Barney in 2005 and moving with the team to UBS in 2007. Yamashita has worked in the business for nearly 30 years, having begun his career as an auditor at Union Bank of California (Los Angeles) and later joining UBS in 2008.
“We could not be more pleased to welcome Ron and Karen and their team to Raymond James,” said Rick Sanchez, West Coast regional director for RJA, in a statement. “The reputation of their practice, their years of experience and their client-first approach make them a great addition to our firm, as we continue to expand our footprint in the Western U.S. and in Hawaii, in particular.”
Ameriprise, ACG Wealth News
Ameriprise Financial says that three advisors recently joined its employee channel from Morgan Stanley with $270 million in combined assets under management.
Kenneth Demps, Robert Dennis and Jay MacKenzie of Troy, Michigan, now report to Branch Manager Christopher Ohlert.
“We moved to Ameriprise because the firm’s guiding principles match those of our team,” said Demps, in a statement. “The Ameriprise culture is one of listening, proper planning and creative solutions to enable clients to achieve their dreams.”
“Advisors are joining Ameriprise to work in an advisor centric-culture that makes doing business and serving clients easier,” explained Ohlert. “They see a real and refreshing difference in how we partner with advisors. We’re with them every step of the way to help them succeed. Particularly in today’s environment, that level of support is meaningful.”
ACG Wealth, an RIA with $1.8 billion in assets under management named Greg Fink to the roles of president and CEO earlier in June.
“Greg brings more than 20 years of experience in the business and management of RIAs,” said Jody Young, a founding partner of the group, in statement.
“He also knows investing and trading, having cut his teeth at the large institutional firms including Fidelity, Northern Trust and Bank of America. He is tasked with continuing our momentum and taking ACG Wealth to the next level.”
According to the firm, Fink—who will be based in the Atlanta area—will be asked to focus on its strategic growth plan, “which will include expanding the private wealth and hybrid investment management platforms.”
“Jeff Shaver, Jody Young and David Millican launched ACG Wealth 15 years ago after spending years succeeding at the big wirehouses because they had a better system for advisors and high-net worth clients,” said Fink, in a statement. “They have grown it from $80 million in assets to $1.8 billion over that time. The future is incredibly bright for ACG Wealth, and I am excited to be a part of it.”
Fink previously served as a vice president at Fidelity Investments’ Clearing & Custody Services business unit, where he led custody, clearing and practice management work for some of the largest RIA firms throughout the Southeast.
Over the past five years, ACG Wealth says it has acquired 14 RIAs from across the country.
The three founding partners plan to stay at the firm. Shaver will head the Private Wealth Group while Young will manage acquisitions. Millican is heading the over-arching business, which includes ACG Wealth and Arkadios Capital, a newly formed independent broker-dealer