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Financial Planning > Behavioral Finance

Cambridge Nabs $2.5B Group: Recruiting Roundup

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The Nettuno Group recently joined Cambridge Investment Research from one of the Advisor Group broker-dealers. 

Led by Ken, Anthony and Christopher Nettuno, the Milton, Georgia-based team includes over 60 advisors with about $2.5 billion in assets under administration and $22 million of yearly revenue. According to FINRA, the team was affiliated with FSC Securities for the past 16 years. 

“The Nettuno Group is a high-quality enterprise with values closely aligned with Cambridge. We are pleased the Nettuno Group chose Cambridge from the numerous options they had,” Cambridge said in a statement. 

Earlier this month, Financial Solutions Group, which has 10 advisors and $1 billion of client assets, left FSC and affiliated LPL Financial

Plus, LPL said this week that three financial advisors with Maxwell Financial Management joined it from FSC in New Albany, Ohio. The group works with about $240 million in assets.

CEO Richard Maxwell founded the company in 1981; Adam Hill serves as its president, and Maxwell’s daughter, Katy Ufferman is vice president. “We truly are a partnership, and between us we have experience in all areas of planning — from retirement planning to estate planning to providing strategies for women investors,” Hill said in a statement.

Other News

Meanwhile, Stifel Financial says two Merrill Lynch advisors have moved to its new office near Dallas: Robert Winter and Philip Meyer, who worked on $245 million and $96 million in client assets, respectively.  

“Merrill Lynch advisors are integrating incredibly well in our open architecture environment, bringing over, on average, 94% of their books [of business],” said John Pierce, head of Recruitment for Stifel. “Stifel is becoming the firm of choice for Merrill advisors looking for the halcyon days of what once was ‘Mother Merrill.’”

Year to date, Stifel has opened 16 new Private Client Group offices in the U.S., including four in the Lone Star State.  

Also, Raymond James welcomed Roper Fields, CFP, Thomas Fields, CFP, and B.V. Lawson to its employee channel in Cool Springs, Tennessee.

The advisors join Raymond James from Wells Fargo, where they previously managed about $150 million in client assets under advisement and generated over $1.6 million in yearly revenue. The team operates as Fields Wealth Management of Raymond James and is joined by Senior Registered Sales Associate Tammy Alexander.

 “We were instantly attracted to Raymond James’ client-first philosophy, and having the freedom to own our book,” said Roper. “The in-house marketing services offered were also very appealing. The fact that we had a website up and running by the time we came over was incredible. We’ve been very happy with the upgrades across the spectrum.”

Roper has been in the financial-services industry for close to 25 years.  

Thomas has nearly 20 years of experience, while B.V. has been in the business for over five decades. He began his career in 1968 a Hayden, Stone & Co., then joined A.G. Edwards (which was bought by Wachovia and later Wells Fargo).

“Roper, Thomas and B.V. are wonderful additions to the firm and bring almost 100 years of combined financial services experience with them,” said Dick Ferguson, Raymond James & Associates’ Southern Division director. “I am proud that they ultimately chose Raymond James and that our unique culture continues to attract advisors like them.”

Development at Integrated

RIA Integrated Partners says Juncture Wealth Strategies is joining it in Scottsdale, Arizona. Juncture Wealth is led by Barry Rhonemus and plans to “focus on recruiting breakaway brokers and transitioning them to independence on behalf of Integrated.” 

The Juncture team previously moved to the independent RIA channel in 2010 after leaving Wells Fargo Advisors. It includes Mahes Prasad, Jack Barker, JD, CPA, and Brad Haines, CFA, FRM. 

“Over the last year, we’ve spoken to at least 20 different firms, exploring every conceivable model,” according to Rhonemus. “[I]n talking to Integrated, it quickly became clear to us that they offer the scale and resources we need to more quickly make our entrepreneurial aspirations a reality.”


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