As the June cycle of recruitment across broker-dealers, wirehouses, and hybrids draws to a close, LPL. Osaic, and Citizens Private Wealth each announced significant moves, including a two-state team that previously managed more than $500 million at United Planners and an $800 million sports and entertainment-focused team in Southern California.
LPL has welcomed a family-led advisor team, operating as Tribute Financial to its broker-dealer and registered investment advisor platform.
The team, led by Kevin Daniels, president and CEO of Tribute Financial, reported managing more than $500 million in advisory, brokerage, and retirement plan assets prior to the move, joining from United Planners Financial Services.
The practice operates out of offices in Missouri and Connecticut and focuses on multigenerational client relationships spanning a broad range of financial backgrounds.
Daniels cited LPL's technology infrastructure as central to the decision to affiliate.
"LPL offers the technology and support we need to continue evolving our business while staying focused on what matters most – our clients," he said. "Having access to enhanced resources allows our team to strengthen our capabilities and position our firm for the future."
The Tribute Financial team also includes advisors Martin Nadeau, Kevin Daniel's son Zach Daniels, his son-in-law Scott Kearns, and Caleb Sanders.
A wealth management veteran with more than 30 years in financial services has left Fidelity to launch his own independent wealth management practice., affiliating with Osaic through its largest OSJ.
Chocorua Wealth Management is supported operationally by Innovative Financial Group. Brent Holcombe serves as founder and president of the new practice, which is focused on personalized financial planning, investment management, and long-term guidance for individuals, families, and business owners.
Prior to joining the Osaic network, Holcombe had been affiliated with Fidelity for roughly 33 years as a registered broker and investment advisor, according to his BrokerCheck record with FINRA.
"Launching Chocorua Wealth Management is the realization of a vision I've had for many years," Holcombe said. "My goal is to provide clients with personalized advice backed by deep relationships, independence, and access to institutional-level resources."
Brian Heapps, president and CEO of Innovative Financial Group, said the launch reflects Holcombe's track record of building trusted client relationships. "We're excited to support him as he launches Chocorua Wealth Management and begins this next chapter as an independent business owner."
Citizens Financial Group has added a Santa Monica-based advisor trio from Morgan Stanley to its private wealth business in Southern California.
Operating as Snyder Wald Wealth Partners, David Snyder, Darren Wald, and Trevor Wade previously managed approximately $800 million in client assets. The group serves high-net-worth and ultra-high-net-worth individuals and entrepreneurs, with specialized expertise in the sports and entertainment industries.
Paul Casey, head of Citizens Wealth Management, said Southern California remains a strategic growth market.
"Their deep experience working with athletes, entertainers, and other professionals is especially meaningful in a region where these industries are deeply embedded, and strengthens our ability to deliver highly tailored, thoughtful advice," Casey said of the new team at Citizens.
Snyder noted that the move gives the team access to broader resources across Citizens Private Bank and Commercial Bank.
"At Citizens, we have the opportunity to pair that experience with broader capabilities, working alongside Private Bank and Commercial Bank teams to deliver integrated, comprehensive advice," he said.
Former Osaic executive Shah has joined the self-described AI workforce company as managing director in charge of its engagement efforts with wealth firms.
The SEC enforcement division is reportedly digging into potential conflicts of interest, valuations, and disclosure in fast-growing fund manager-led transactions.
New research shows aspiring advisors are fluent in AI — but fear firms will automate the very roles they need to learn the trade.
Edward Jones is making Carefull’s technology available to its 9 million-plus clients through its more than 20,000-strong network of financial advisors.
Many younger Americans would tap their own retirement accounts to pay for care for a loved one.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
