Securities America, part of Ladenburg Thalmann has added the wealth firm Goldstein & Associates in Wisconsin to its corporate RIA Arbor Point Advisors and broker-dealer from Ameriprise Financial.
The wealth firm is led by CEO Jon Goldstein, includes six advisors and works with $565 million in total client assets. Goldstein heads the firm’s Middleton, Wisconsin, headquarters; its Lake Geneva, Wisconsin, office is led by advisor David Sharpe.
Other team’s advisors are Adam Peters, Lisa Spadoni, Amanda Gausewitz and Kyle Kerkenbush. Goldstein has 21 years in the business (most of which were spent with Ameriprise), while Sharpe has 13 years (of which eight were with Ameriprise).
Advisors aligning with Arbor Point can choose a hybrid business model and affiliate with both Arbor Point and Securities America, or join as an RIA-only advisor with Arbor Point, according to Gregg Johnson, executive vice president of branch office development and acquisitions at Securities America.
Arbor Point has added some $1 billion in advisory assets over the past year and now has close to $4 billion. Ladenburg Thalmann is in the process of being acquired by Advisor Group.
LPL Financial says Herbert Financial Group has joined it with about $500 million in brokerage and advisory assets from Centaurus Financial.
The team is based in Auburn Hill, Michigan. Its founder Timothy Herbert is one of its partner advisors, along with Scott Torosian, CFP, and Kara Herbert CFA, CFP.
Herbert started in the finance industry in 1985 as a human resources manager for General Motors. Many of the group’s clients have worked in the auto business.
“We have extensive knowledge of GM, Delphi, FCA and Ford benefits, pension plans, stock options and retirement packages,” explained Kara Herbert, Timothy’s daughter, in a statement. “We have developed deep relationships with our clients. We know what keeps them up at night.”
With the move, Herbert Financial Group is adding staff and expanding its office space.
“We plan to grow organically through referrals, but our next strategy is acquisitions. I’m eager to make connections and look to large firms within LPL and LPL’s M&A team for guidance on best practices for growth,” Timothy explained in a statement.
HMC Partners of North Carolina has moved to Cetera Advisor Networks/Summit Financial Networks from LPL Financial, where it worked with about $270 million of assets. The practice is led by A. Gib McEachran, who has been in the business for 32 years (including the past 14 with LPL) and John W. Hardy, who has 36 years of advisor experience.
The two advisors host a radio show, “Money Matters,” in the greater Greensboro area.
“We conducted a two and a half-year search for a new broker-dealer and ultimately felt that Cetera’s regional affiliation model created opportunities for efficiencies and elevated service to our clients,” according to McEachran.
R. James’ Latest Hire
Raymond James recruited Steven LeClair, CFP, to its employee channel in Upper Arlington, Ohio, from UBS, where he managed about $228 million in client assets.
Joining LeClair are Senior Wealth Management Associate Lauren Matthiessen, CFP, and Senior Marketing Associate Jodi McMillan.
“For us, the choice to join Raymond James was all about the people,” said LeClair, managing director, in a statement. “The people and the culture directly mirrored us and our clients, allowing for a seamless transition that provides stronger opportunities for our clients and greater support for us as a practice.”
LeClair has 17 years in the industry, including service as a branch manager and senior vice president for UBS. Matthiessen has about nine years of work as an advisor, while McMillan has five.