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October 24, 2019 at 10:52 AM
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.
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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.
