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Securities America Adds $446M All-Women RIA: Recruiting Roundup

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Securities America says it has recruited an all-female hybrid RIA firm with $446 million in client advisory and brokerage assets and four advisors: Financial Focus, based in Carlsbad, California.

The team used to be affiliated with National Planning Corp., which was acquired by LPL Financial in August.

According to Securities America, Financial Focus was founded by female advisors in 1984 to “support the financial planning needs of women clients across all ages, with more than 50% of the firm’s business driven by fee-based advisory services.”

“We knew we wanted a partner that was friendly to independent RIAs,” said Barbara Williams, co-founder of Financial Focus, in a statement. “That was an absolute.”

In addition, the team wanted to affiliate with “a firm that wasn’t too large and had an appreciation for the mission of supporting women clients across the country. Securities America is known for its support of true independence among advisors and respects our business model,” Williams said.

“At Securities America, we empower our women advisors through educational resources, conferences and networking events tailored just for them,” said Janine Wertheim, senior vice president and chief marketing officer for Securities America, and president of Securities America Advisors, in a statement.

“We also have one of the highest percentages of female licensed representatives in the country. Financial Focus will find a strong, supportive community of women advisors who really get what they do and why they do it,” Wertheim explained.

Meanwhile, RBC Wealth Management said it recently recruited two teams from wirehouse firms.

The Ballantyne–Quiri Investment Group joined its Tucson, Arizona, office, according to Richard Schaefer, director of the Tucson branch. The team includes Joe Ballantyne, who joins with 38 years of industry experience, and Stacy Quiri, with 10 years of experience.

The group manages about $200 million in client assets and used to work from Wells Fargo Advisors.

“We are thrilled to have Joe, Stacy and Mark join our Tucson office,” said Schaefer, in a press release. “We are continuing to attract successful financial advisors who want to grow their business and best help clients achieve their financial goals.” 

RBC’s Tucson branch also recently recruited the Langer Wealth Management Group. It consists of Allen Langer, who has been in the business for 38 years, and J. Fredrick Martinez, who has been in the field for 14 years. The team manages some $231 million in assets and moved to RBC from UBS.

The Langer group “is a great addition to RBC’s Tucson branch,” said Schaefer. “They have a vast amount of industry knowledge and experience, and treat their clients with integrity.” 

In other news, a team of two advisors recently joined Ameriprise Financial’s employee channel with $143 million in assets from Merrill Lynch: David Schrader and Frank DeFranco of Saddle Brook, New Jersey.

“We believe the goals of Ameriprise Financial are clearly aligned with the goals of our clients,” said Schrader in a statement. “Ameriprise was the right move for us and our clients because the firm has all of the capabilities of a wirehouse with the more personal feel of a boutique firm.”


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