Fifth Third's RIA unit is starting the year on a strong note with a billion-dollar recruitment move, while Wells Fargo Advisors and Cetera continued to bolster their advisor benches with additions from rival wirehouses and broker-dealer firms.
Fifth Third Wealth Advisors has added a two-advisor team in Atlanta that previously oversaw nearly $1 billion in client assets, underscoring the bank-backed RIA’s push into major wealth hubs.
The firm said Atlanta-based advisors Kim Churchill and Adam Wittan have joined as managing directors of Fifth Third Wealth Advisors, a multi-custodial RIA supported by Fifth Third Bank. The pair are joining from Regions Bank, where they collectively managed close to $1 billion for clients.
In a statement, Eric Housman, president of FTWA, said the firm’s structure is built around giving seasoned advisors more capacity to focus on relationships and planning rather than operational constraints.
He said the model gives advisors “the time and resources to focus on building deep client relationships and delivering the personalized guidance that sets them apart” and added that the firm aims to help the team create an “exceptional client experience.”
The move comes two months after FTWA reeled in a $2 billion advisor trio from Merrill Lynch in the East Coast.
Founded and registered with the Securities and Exchange Commission in 2021, FTWA pitches itself as combining RIA-style independence with the balance sheet and infrastructure of a regional bank parent. The firm reported more than $7.2 billion in discretionary assets under management as of Sept. 30.
Elsewhere in Atlanta, Wells Fargo Advisors expanded its footprint in the state with the addition of East Lake Wealth Management Group, a five-person team that had been with Morgan Stanley.
The group, which joined WFA's private client group on Jan. 9, oversees more than $784 million in client assets, reporting $4.6 million in revenue over the past 12 months.
East Lake is led by financial advisors Coleman Rudolph, Erik Berg, and Simon Young, with support staff Jeanine Delgado and Jake Rudolph. The team’s stated focus is on building high-level, customized and attainable lifelong wealth plans for clients.
The Atlanta hire comes as WFA leans into recruiting high-asset practices across its different channels. In Dallas last week, the firm brought a three-person ultra-high-net-worth team overseeing $1.2 billion from Citi onto its private client group platform.
The firm’s independent arm, Wells Fargo Advisors Financial Network, also added an 11-person Long Island group from Merrill Lynch overseeing more than $1.8 billion in client assets.
Meanwhile, Cetera said it has landed veteran advisor Kim Ramchandani from LPL, the latest move tied to shifting dynamics at large enterprises and bank-based investment programs.
Ramchandani has joined Cetera after nearly 20 years with LPL, where she managed approximately $206 million in assets under administration. Much of that business was associated with the Webster Bank investment program and Financial Resources Group, an OSJ affiliated with LPL.
Her practice works with a wide spectrum of clients, from first-time investors to those nearing retirement, and emphasizes education, transparent guidance and long-term relationships.
“My life experiences taught me early on that no two people, or financial journeys, are ever the same,” Ramchandani said. “That belief has guided my entire career.”
Ramchandani attributed the move to a series of changes at LPL that she said affected her OSJ and the Webster Bank investment platform and made it harder to run her business the way she wanted.
“We experienced several transitions with the bank program and LPL, and each change introduced new challenges,” she said, adding that she often felt her team’s concerns were not being heard and that they “lacked a strong advocate.”
Those concerns ring similar to statements from Connecticut-based Gregory Kearney, who joined Cetera last week after more than two decades tied to LPL. Kearney was also previously with Financial Resources Group.
Ramchandani and Kearney are now able to reconnect with other former LPL colleagues at Cetera, including community financial institution director Brian Neyland.
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