A nine-person advisory group has affiliated with Wells Fargo Advisors Financial Network (FiNet) under the banner Twin Harbors Private Wealth, bringing more than $1.4 billion in client assets to the independent channel.
The team based in Melville, N.Y began operating under the FiNet model on Monday. Led by managing partners Jeff Wang, Joseph Ilg, and John Rizzo, the practice also includes partners Corey Streim, and Kyle Napolitano, along with Daniel Sporn, CFP, first vice president. They are supported by Alyssa Oviasogie, Denise Bonifazio and Diane Gibbons.
The advisors previously worked across two separate teams at Merrill Lynch before combining to move to the independent broker-dealer model. In a joint statement, the team cited operational autonomy as the deciding factor.
"Our decision ultimately came down to alignment," Twin Harbors Private Wealth said in a statement. "We wanted the freedom to build a practice entirely around the client experience, from the technology we use, to the planning process, to the way we communicate and grow our business."
The arrival marks the second billion dollar-plus team to affiliate with FiNet in Wells Fargo Wealth & Investment Management's Long Island market this year. In January, FiNet welcomed Infinity Private Wealth, another ex-Merrill team that reported managing $1.8 billion.
Du Lac Wealth Services, a Cary, N.C.-based advisory firm, has transitioned from LPL to Osaic, one of the nation's largest independent wealth management platforms, bringing approximately $200 million in client assets.
The firm is led by Managing Director James Mertens, CFA, a 20-year industry veteran. He is joined by wealth advisors Garrett Railsback, and Kerry Goodman, along with client experience manager Jaunt'e Smith.
In a statement, Mertens said Osaic "is a great match for our service-first culture and how we grow our practice."
A core part of Du Lac Wealth's growth strategy centers on acquiring books of business from retiring advisors.On that note, Mertens highlighted Osaic's ability to offer "key resources to level the M&A playing field."
Du Lac Wealth emphasizes tax-aware portfolio transitions and relationship continuity when facilitating ownership changes – a focus it says protects clients during periods of transition.
The move follows a series of similar transitions to Osaic, including firms C&N Wealth Management, The Finance Couple and Gardner Wallace Financial.
Raymond James Financial Institutions Division (FID) has added financial advisors Peter Braun and K.C. Hosey to First Investments & Planning at First National Bank of Omaha (FNBO), a bank-based investment program.
The Kansas City, Mo.-based advisors manage approximately $515 million in client assets and previously operated under UMB Financial Services.
Braun and Hosey serve high-net-worth individuals, families and business owners through Raymond James Financial Services.
Grace Austin, senior vice president and North division director of FID, said the addition reflects a deliberate growth strategy for the bank's wealth program. "Peter and K.C. bring strong experience and a clear focus on client outcomes, and we're proud to support their transition as the program continues to scale," Austin said.
Christopher Ruggiero, senior vice president and head of wealth and institutional services at FNBO, described the move as part of a broader push to extend the bank's multigenerational service capacity. "A team of this caliber strengthens our ability to serve clients across multiple generations, deepen relationships and continue growing across our markets," he said.
The duo's arrival is the latest in a sustained expansion at First Investments & Planning. Since January, the program has added nine advisors representing more than $1 billion in client assets in total, including last week when it welcomed an advisor trio formerly operating through Country Club Trust Company, a subsidiary of Country Club Bank that FNBO acquired.
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