The war for advisor talent resumed in earnest this week, with both Cetera and Raymond James scoring significant additions to their independent advisor channels.
Cetera has welcomed DFG Financial Group, a New Jersey-based team overseeing approximately $400 million in assets under administration. Led by founder David Dominici, the firm joins Cetera’s Summit Financial Networks community after departing Ameriprise Financial.
DFG Financial Group emphasizes a multigenerational approach, with Dominici’s niece, Jacqueline Zapicchi-Cloughsey, serving as chief operating officer, and other family members involved in the business.
Dominici said his firm’s succession planning and family focus are central to its client relationships. “We’re very proud of our line of succession because we want to be able to do business with our current clients, their children and their children’s children, so we’re in this for the long haul,” he said.
He also noted that the firm’s move to Summit Financial within Cetera was driven by a desire for “boutique culture” and support that matches their service standards. “If I had to say the one thing we do the best, it’s our service, and we wanted to be partnered with a firm that understands that and helps us to continue providing that service without interruption,” Dominici said.
In Depew, New York, Raymond James Financial Services has brought on Custom Wealth Strategies, a four-advisor team managing $315 million in client assets. The group, which specializes in serving high-net-worth clients, previously worked with Commonwealth Financial Network.
President and founder David Burgio Sr. said the move was motivated by a shared approach to client relationships and access to expanded technology and resources. “With Raymond James, we’ve joined a firm that approaches client relationships the way we do – with care, clarity and a long-term view,” Burgio said.
The CWS team also includes advisors Michael Malaney, David M. Burgio Jr, and Mary M. McCafferty.
RJFS is building up a lengthy record of recruitment from Commonwealth, including a four-day streak of announcements last week reeling in several teams that previously managed over $1 billion.
Wells Fargo Advisors also revealed several low-key wins on Friday, announcing four advisor additions with a combined $1.1 billion in AUM.
John Digiacomo and Natalie Estabrooks, both formerly of LPL, joined the Private Client Group in Pennsylvania and New York, respectively, overseeing $132 million and $139 million in assets.
In Nebraska, Sheryl LaDuke joined from RBC Capital Markets with $143 million in assets, while Tina Truax-McCuin joined from TD Private Client Wealth in New York City, bringing $700 million in assets.
Farhad Firoozi, head of recruiting at Wells Fargo, said the firm’s recent growth “reflects our commitment to investing in resources and tools that empower advisors to thrive and deliver exceptional value to their clients.”
Meanwhile, Janney Montgomery Scott has added advisors William Hendrickson and John Rader to its Roanoke, Virginia office. The team, previously with Davenport & Co., manages nearly $200 million in client assets.
Hendrickson's record in the industry stretches back to 2003, when he began his career with Salomon Smith Barney. Rader has been in the business for more than 30 years, including his time helping establish the Roanoke office at Salomon Smith Barney in 2000.
Crusonia Wealth Advisors, an independent RIA based in Denver, announced its own team expansion with the addition of Rachel McGuire as partner and senior wealth advisor, and Meghan Ide as associate wealth advisor.
Crusonia Wealth Advisors co-founder Zach Pashel said the firm’s growth is driven by a focus on thoughtful planning and personalized service, noting that both new hires bring “deep experience in financial services and investment strategy, along with a strong commitment to client service.”
McGuire said she looks forward to “collaborating with clients in a way that’s both strategic and personal,” while Ide emphasized her excitement to “build lasting relationships with clients and work to realize their financial goals.”
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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