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Woodbury Adds $2B OSJ, RBC Picks Up $1B Teams: Recruiting Roundup

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Woodbury Financial Services, one of Advisor Group’s independent broker-dealers, says it has added the Tenacity Advisory Group, a Wisconsin-based Office of Supervisory Jurisdiction. Tenacity formerly used SII Investments as its broker-dealer.

The new group includes $2 billion in client assets and 52 advisors across Wisconsin, Michigan, Ohio and Nebraska. (Woodbury has roughly 1,200 registered reps.

“We are honored to welcome TAG to the Woodbury Family,” said Rick Fergesen, president and CEO of Woodbury, in a statement. “As a firm with a rich history of servicing advisors and their clients to their fullest potential, TAG is an exceptional example of a business founded on holistic financial planning, and we are proud that they’ve selected Woodbury.” 

In other news, RBC Wealth Management announced that two teams had joined it on the East and West Coasts with over $1 billion in combined client assets.

The PVG Group is now part of RBC’s recently opened Palos Verdes office, according to Mike Melton, director of RBC’s Southern California Complex. The PVG Group includes advisors Larry Prutch, Cengiz Volkan, Alan Goldstein and Neil Fujita, who manage more than $610 million in assets and formerly worked for Bank of America-Merrill Lynch

“As RBC Wealth Management continues to grow in Southern California, we are attracting talented financial advisors like the PVG Group to the firm,” said Melton, in a statement. “The opening of the new Palos Verdes office will offer more convenience to our clients as we help them achieve their wealth management goals.” 

Dominello Investment Group joined it from Wells Fargo Advisors in Farmington, Connecticut, according to Aaron Scott, director of RBC’s Hartford Complex. 

The Dominello Investment Group includes George Dominello, who has 36 years of industry experience, and his son William Dominello, CFP, who has been in the business for 10 years. They manage $395 million in assets.

“We decided to join RBC Wealth Management because of its global reputation for strength and stability,” said George and William Dominello, in a joint statement. “We were also incredibly impressed that everyone from senior management to the individual advisor, truly puts clients first in all decisions.”

More Developments

Baird says it added the Jester Group and opened its first wealth management office in Chapel Hill, N.C.

The team is led by C. Gene Jester, formerly of Morgan Stanley. It oversees $210.5 million of client assets and generates some $1.86 in annual fees & commissions. Jester is joined by Bert “Cort” Lester Bennett IV, Emma E. Jackson, Tracie Legg and his son, David Jester.

Kestra Private Wealth says White Cap Wealth has joined its operations in Provo, Utah, with $150 million in assets. Members of the White Cap team, which is led by David Johnston, has a combined 40 years of wealth management experience. The team used to work for Morgan Stanley.

“At Kestra PWS, our business is centered on building and maintaining close relationships with our advisors. Advisors want to be out of the wirehouse, but they don’t want to be isolated,” said Rob Bartenstein, CEO of Kestra PWS, in a statement. “We’re eager to help the White Cap team build a long-lasting legacy and continue to provide excellent, hands-on service to their clients.”

Raymond James announced that David Katz is now part of its employee channel in Boca Raton, Florida. Katz used to be with Ameriprise Financial, where he managed about $100 million in client assets.

“As an experienced advisor who has an unblemished record and has been taking the most personalized, strategic approach for my clients for over 24 years, I have always run my practice in a way that is best for my clients,” Katz said, in a statement.

Janney Montgomery Scott says that Thomas Paz has joined its Miami branch office from Raymond James & Associates.

“With the opening of our Miami office in September, Thomas is joining Janney during an exciting time of growth for the firm as it continues to expand in Florida,” said Michael Levin, Senior Vice President, Florida Regional Manager for Janney, in a statement.

Janney opened their Miami branch office in September of this year with the hiring of Fady C. Maghak, also formerly with Raymond James.

The Strategic Financial Alliance, and independent broker-dealer and RIA, says Jean Merriman has joined it as vice president of due diligence and product, while Jamie Mackay has been appointed vice president of business development. Also, technology veteran Joseph K. (Jay) Copeland has been named vice president of technology for the company.

“We are delighted to welcome these three talented and respected executives to serve in key operating roles in our expanded senior management team. With the crucial expertise and guidance that Jean Merriman will provide in the due diligence and product space, combined with Jay Copeland’s leadership in technology, and Jamie Mackay’s strategic approach to recruiting, SFA is positioned for considerable further success next year and beyond,” said SFA President & CO Clive Slovin, in a statement.

Merriman was formerly vice president of sponsor relations and due diligence with First Allied Securities and has more than 20 years of experience in the financial-services industry.

Copeland has been in the business for a similar length of time; before joining SFA, he served as IT site manager for the marine electronics division of Johnson Outdoors. For his part, Mackay worked in the wholesale channel for Transamerica Capital, Allianz Life and Allmerica Financial over the course of his 22-year career.

Based in Atlanta, SFA serves about 150 independent financial advisors with nearly $4.5 billion in advisory and brokerage assets. 

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