LPL Financial, RBC, and Raymond James have each added more experienced advisors to their ranks, with a billion-dollar plus duo coming to LPL from Fifth Third as two UBS teams add to the series of exits from the wirehouse since last year.
LPL Financial has added Moto Wealth Partners to its Linsco employee advisor platform, bringing on wealth advisors Breanne Bovara and Derrick Petry from Fifth Third Private Bank. The team reported serving about $2 billion in advisory, brokerage and retirement plan assets at its previous firm.
Based in Cincinnati and Dayton, Ohio, Moto Wealth Partners focuses on high-net-worth and ultra-high-net-worth families across the US, with a concentration of clients in its home markets. The advisors position the practice as a boutique wealth shop that leans heavily on planning and institutional-style portfolio construction.
“We believe wealth is multidimensional — it impacts family, values, purpose, and legacy,” Bovara said in a statement on Tuesday, highlighting their approach to planning around goals, cash flow, tax strategies, and estate structure. She also stressed their goal of “[simplifying] complexity” for clients going through business transitions, inheritances, divorce and other major life events.
Bovara said the firm’s name reflects its emphasis on keeping clients moving forward.
Moto Wealth Partners cited independence, fiduciary flexibility, and technology as key reasons for choosing LPL, pointing to the firm’s scale and planning tools as a way to streamline operations and spend more time on complex client work.
RBC Wealth Management has recruited the Rottenberg Wealth Management Group in Florham Park, New Jersey, a father-son team led by Hank and Matthew Rottenberg, both financial advisors and senior vice presidents. The group joins from UBS, where it managed nearly $400 million in client assets, and is joined by client associate Giancarlo Intili.
New Jersey complex director Steve Ornstein said the team was drawn to the firm’s overall platform and support in the high-net-worth space. “The Rottenberg Wealth Management Group was attracted to the strength of RBC Wealth Management, its high-net-worth capabilities, and access to local leadership,” Ornstein said in the release.
The team brings more than four decades of combined experience advising business owners, retirees, and families, with Matthew Rottenberg stressing the importance of customized financial plans that reflect client goals and then revisiting those plans as circumstances change.
For UBS advisors who have bolted for the exits over the past year, RBC Wealth Management has appeared to be something of a destination of choice, with several powerhouse teams opting to join the US wealth subsidiary of Canada's biggest bank.
Raymond James & Associates, the firm’s employee advisor channel, recently hired financial advisor Ronald Shmyr in Plymouth, Michigan, where the group is operating as Tortuga Financial Group of Raymond James. Shmyr joins from UBS Financial Services, where he managed approximately $201 million in client assets.
The practice includes senior financial planning consultant John Shmyr, senior registered client service associate, who is Ronald Shmyr's brother. They are joined by Ronald Shmyr's children, senior client service associate Joann Shmyr and client service associate Matthew Shmyr.
The family-run team works with business owners, corporate executives, families, individuals and retirees.
“Raymond James’ approachable leadership and long‑term commitment to supporting clients and advisors immediately resonated with us,” Ronald said in the announcement, adding that the firm’s backing for the group’s independence as a family-owned practice gives it room to pursue the Tortuga strategy.
Ronald, who has 41 years of industry experience and began his career at Merrill Lynch, had been with his previous firm for 16 years.
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A 27-year Merrill veteran, Florida advisors, and a trio of New Jersey advisors just moved to new platforms.
Broker-dealer expands its model portfolio platform with modular building block strategies designed to give advisors greater customization at scale.
The mega-RIA with roughly $160 billion in client assets remains firmly in acquisition mode amid rumors of private equity giants vying to scoop it up.
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