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First Republic Add 3 Female Wells Fargo Advisors: Recruiting Roundup

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First Republic Bank has recruited a trio of women advisors from Wells Fargo Private Bank in the Seattle area. Nichole Heidrick, Linda Mauzy and Leigh Flor have been tapped as managing directors and wealth manager with the bank.

“Nichole Heidrick, Linda Mauzy and Leigh Flor are terrific additions to our expanding team of wealth management professionals,” according Bob Thornton, president of First Republic Private Wealth Management. 

Heidrick has more than 16 years of industry experience, including a stint at Goldman Sachs. Mauzy, CFA, has over 32 years in the business and before Wells Fargo was with Key Private Bank. Flor has worked in wealth management for about 15 years.

Merrill Movement

Meanwhile, Merrill Lynch Wealth Management appointed Michael Simonds to lead its SD Market operations in on Liberty Street in downtown Manhattan, which includes one of the firm’s most historic offices and one of its newest offices in downtown Brooklyn. 

(The Sales Department office, known as SD, opened in 1940 at 225 Liberty Street, after the return of Charles E. Merrill to head up the newly merged firm of Merrill Lynch, E.A. Pierce & Cassatt.)

“Michael has been a top performer leading the Rockefeller Center office for nearly a decade,” said Bill Lorenz, Northeast Division executive for Merrill Lynch, in a statement. “We are fortunate to have such a talented professional who is in a great position to take on this role and continue to drive responsible growth in the market.”

Simonds led the firm’s Rockefeller Center office for nine years. He began his wealth management career in 1992 as a financial advisor, and joined the firm in 2010.  

Courtney McCarthy, the associate market manager for Rockefeller Center, is taking on the role of market executive on an interim basis. 

Kestra News

Kestra Financial says it recruited Ivory Wealth Management out of Essex, Connecticut. The group, which formerly worked with Commonwealth Financial, manages about $214 million in assets. 

It is led by Charles Crilly, who has 26 years in the business. Other team members are Jeremy Soboleski, senior vice president and advisor; Kathy Hofmann, operations manager; Tiffany Knoop, vice president and advisor; and Quentin D. Elliott, senior vice president and fixed income strategist.

“Our firm is at a pivotal point in its history. We’ve grown significantly over the years and need a partner equipped to support our ambitions for future success,” according to Crilly. 

Kestra Private Wealth Services, an RIA unit of  Kestra Financial, recently added OWL Private Wealth Advisors of Bloomfield Hills, Michigan.

OWL includes managing partners Jeffrey Smith, CFP, and Brian Thomas,, who have a combined 40 years of industry experience. 

The two work with a combined $120 million in client assets and used to be with UBS and Cambridge Investment Research, respectively, according to FINRA BrokerCheck.

“Both Jeffrey and Brian sought a full-service independent model that gives their firm the freedom to offer customized financial solutions for their clients,” said Rob Bartenstein, CEO of Kestra PWS, in a statement.

RIA M&A

Wealth Enhancement Group, which has some $17 billion in client assets, is buying JOYN Advisors, an RIA in Atlanta with some $1.3 billion.

JOYN has 35 employees, including 12 financial advisors — eight of whom are CFPs. CEO David Geller was a co-founder of the group in 1991 with his brother Matthew, president of JOYN.

“JOYN has developed an outstanding team of financial professionals and innovative solutions that will benefit from our capabilities at Wealth Enhancement Group, while also augmenting our own national presence,” said WEG CEO Jeff Dekko in a statement.

Other Developments 

B. Riley Wealth Management says Mark Kaskey, Jason Beard and Robert “Bob” Cellucci of MJB Wealth Management Group have joined the firm’s Devon, Pennsylvania branch. The use to work with Stifel Financial.

“We are pleased to welcome Mark, Jason and Bob of MJB Wealth Management Group to the firm,” said Chuck Hastings, president of B. Riley Wealth, in a statement.

Operating as MJB Wealth Management Group for more than 16 years, Kaskey, Beard and Cellucci have managed some $270 million in client assets.

Kaskey is a 33-year industry veteran, while Beard and Cellucci, CFP, each have about 20 years in the business.

Separately, real-estate sponsor and manager Christina Development tapped wealth-management veteran Richard Moran to the new post of managing director, Capital Markets. 

Moran comes to Christina from Global City Advisors, a firm he started in 2013. Earlier he worked in executive positions for Bear Stearns Asset Management and UBS Wealth Management, as well as serving as president of Symetra Investment Services, a broker-dealer and RIA later acquired by Sumitomo Life.

Christina has “demonstrated the inherent advantages of its exclusive investing focus on the Westside region of Los Angeles … ,” according to Moran. 

“There has never been a better time to align Christina’s investment solutions with RIA firms and family offices that are seeking to deliver more value through one-of-a-kind real estate offerings to their high net worth and ultra-high net worth clients,” he added.