It's been a busy week of recruitment moves before the long Labor Day weekend, featuring a four-day streak of Commonwealth defections to Raymond James and more advisors leaving UBS to cap off August.
Raymond James has accelerated its recruitment drive over the past week, unveiling a series of hires from Commonwealth Financial Network that have brought in teams that collectively managed more than $1 billion in client assets at their previous firm.
In the latest announcement on Thursday, Raymond James Financial Services announced the addition of a Troy, Michigan-based team that previously oversaw roughly $450 million.
The new practice, Hinkson Wealth Management, is led by veteran advisor Gregory Hinkson, along with advisors Adam Miller, Thomas Boogren, and registered client service manager Lynn Gasser.
“As a financial planner, clarity and follow-through matter, making modern capabilities important, especially when streamlining our work,” Hinkson, who has 34 years of industry experience, said in a statement.
Prior to Hinkson Wealth Management, RJFS welcomed an advisor duo in Ohio, a five-advisor team in Michigan, and a solo advisor in Massachusetts.
Over at the Lone Star State, JPMorgan Wealth Management expanded its presence in Austin as it recruited two advisor teams from UBS: the Neff Group and the Buchanan Group. Both teams, comprised of father-son advisors, have been recognized by Forbes for their work with high-net-worth and institutional clients.
The Neff Group reportedly manages $1 billion in assets, and both teams bring decades of experience – John Neff III has been in the business for 45 years, while Bob Buchanan has had a more than 40-year career – to JPMorgan’s boutique advisor platform.
In a statement, David Jernigan, regional director at JPMorgan Wealth Management, said the new hires reflect the firm’s commitment to serving Austin’s growing base of entrepreneurs and affluent families. He described the Neff and Buchanan Groups as “ready to empower clients to grow their wealth, plan their futures and achieve their dreams in this dynamic wealth hub.”
Meanwhile, RBC Wealth Management welcomed Carol Mani Johnston to its San Antonio branch.
Johnston, a recognized pioneer of the industry who previously managed $300 million at UBS, joins the Evergreen Private Wealth Group, a multi-generational team overseeing more than $1 billion in assets.
John Friesen, a member of the Evergreen team, said Johnston’s experience and client focus will strengthen the group’s ability to serve families across generations.
“We’re excited about the knowledge, experience, and perspective she brings, and believe this combination makes our entire team stronger for the families we serve,” Friesen said in the announcement.
Steward Partners, which reported more than $43 billion in assets as of July, has expanded its central division with the addition of veteran advisor Casper Terpinski in Texas.
Terpinski, who brings more than four decades of experience and $230 million in assets from a diverse client base of retirees, small institutions, and multi-generational families, is expected to bolster the firm’s presence in the region as it continues to grow its advisor network.
In Florida, SpirePoint Private Client has opened a new office in Palm Beach Gardens with the arrival of a team led by two advisors formerly with Morgan Stanley. The group, which managed $350 million in client assets prior to joining SpirePoint, will focus on serving high-net-worth individuals and families in the area.
With the addition of the new team – which includes advisors R. Jamie Marceaux and Robert Scarborough, supported by Kim Orsi and Amani Gaballa – SpirePoint said it now represents more than $1.5 billion in total client assets.
"Opening an office in Palm Beach Gardens allows us to serve more families and advisors in South Florida while staying true to our model of high-touch, relationship-driven service," Trent Leyda, CEO of SpirePoint, said in a statement.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history,” said one FBI official.
With experience from Goldman Sachs and TD Ameritrade, the RIA's newest SVP hire adds to a recent wave of executive departures from hybrid Osaic.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
