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Securities America Adds $1.35B Group From LPL: Recruiting Roundup

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Securities America says Priority Financial Group (PFG) has joined its hybrid RIA platform from LPL Financial with some $1.35 billion of client brokerage and advisory assets.

The super office of supervisory jurisdiction (OSJ) serves 25 advisors working with 13 credit unions in Texas, Arizona and California.

“We had a specific set of criteria in mind as we looked at potential broker-dealers to partner with,” said PFG CEO Mike Prior in a statement. “Securities America didn’t just meet those criteria, they also provided an intangible, but crucial, cultural fit.”

Securities America’s Financial Institutions Division works with over 125 credit unions and banks nationwide, servicing over $4.2 billion in total assets. Overall, the broker-dealer — which is owned by Ladenburg Thalmann — has about 2,200 affiliated advisors.

“PFG is a great fit for us,” said Gregg Johnson, Securities America executive vice president of branch office development and acquisitions, in a statement. “They are a progressive group with a great reputation in the financial institutions industry and want to grow with Securities America into the future.”

Priority Financial Group is a hybrid RIA and super-OSJ group that specializes in working with both independent financial advisors as well as W-2 employee advisors who work in wealth-management programs for credit unions.

Meanwhile, super-OSJ IHT Wealth Management says 14 advisors with nVision Wealth Group — a midsize, regional super-OSJ and hybrid RIA group based in Kansas — will move their $570 million in fee-based advisor, brokerage and retirement plan assets to IHT’s platform. IHT, one of LPL Financial’s largest national super-OSJs, works with about $2.4 billion in total client assets.

“We’re thrilled to team with all five of nVision’s independent financial advisor businesses,” said IHT Wealth Management founder and President Steven Dudash, in a statement.

The ongoing flight to quality among independent advisors from smaller broker-dealers to larger firms has been mirrored by a similar trend occurring across the super-OSJ space,” Dudash added.

Other Moves

Employee broker-dealer Raymond James & Associates says it recently welcomed William H. Keaton and Alfred Sams, III, CFP, to its offices in Savannah, Sea Island and Macon, Georgia, according to RJA Southern Division Director Dick Ferguson.

In addition to the two principals, the team also includes Senior Financial Planning Consultant Kristen Murphy, CFP; Senior Practice Marketing Associate Carrie Cooper; Senior Registered Client Service Associates Patrick Bindel and Sharon Kitchens; Registered Client Service Associate Anthony Chisolm; and Client Service Associate Melanie Cabiness.

The team operates as Keaton & Sams Wealth Management of Raymond James. It moved to Raymond James from SunTrust Investment Services, where it had managed about $540 million in client assets and had annual revenues of about $4.7 million.

“We wanted a firm that was primarily a wealth-management firm, where its focus was on the well-being of its clients. When we met with Chairman and CEO Paul Reilly and he talked about Raymond James priorities being: clients first, advisors second and shareholders third, it really resonated with us,” Keaton said in a statement.

“We are delighted to welcome Bill, Alfred, Kristen and their whole professional team to Raymond James,” Ferguson explained in a statement.

Woodbury Financial, part of the Advisor Group of independent broker-dealers, just announced that Feucht Financial Group of Wisconsin is joining the broker-dealer with about $430 million in assets.

According to Woodbury, this deal brings its recruited representative total to 74 so far in 2017; across the Advisor Group, more than 300 new advisors have come on board. Woodbury includes over 1,200 affiliated advisors.

Founded in 1974, Feucht Financial includes father Mark Feucht and sons Jeremy and Chad Feucht, both military veterans who served in Iraq prior to entering financial services. In total, the team consists of seven advisors serving 3,000 clients, with 21 employees.

“We are confident and excited that Woodbury will allow us to operate independently as we have been for over 40 years, servicing our clients with the same values and care that our father founded the business on,” said Chad Feucht in a statement.

“We are excited to welcome Feucht Financial Group to the Woodbury team,” said Rick Fergesen, President & CEO of Woodbury, in a statement. “We are honored to have been selected by such a well-regarded, veteran-owned firm …”

Ameriprise, Janney Updates

In other news, Ameriprise Financial says advisor Erin Wynn Masters of Ormond Beach, Florida, has joined the employee channel of Ameriprise Financial from Raymond James Financial Services, the firm’s independent channel.

Masters is joined by her sisters, advisor Galin Wynn Crist and client service associate Kirstin Wynn Moore. The team has some $141 million in assets under management.

“Our practice is growing significantly, and we wanted additional support so we can spend more time serving our clients. We’re leveraging Ameriprise resources – specifically their branding, marketing and digital capabilities – to grow our client base,” Masters explained, in a statement.

Janney Montgomery Scott announced the recent hiring of four advisors entrusted with a combined $400 million in client assets.

The Simmons Point Group, led by Gary T. Lukachinski, Michael P. Geisen and Michael H. Oliver, has joined Janney’s Hauppauge, N.Y., branch office from Morgan Stanley with roughly $359 million of assets.

Andrew S. Vitek has moved from Wells Fargo Advisors to Janney’s Wyncote, Pennsylvania, office with some $48 million.

“We are extremely pleased to welcome these two accomplished teams to the Janney family,” said Jerry Lombard, president of the Private Client Group, in a statement. “Their addition is a testament to Janney’s successful year of growth, and the value of our entrepreneurial and client-focused culture.”


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