Several major wealth firms have announced the addition of experienced advisors managing more than $750 million in combined assets.
Five financial advisors, collectively managing $879 million AUM, have joined three existing Wells Fargo Advisors Financial Network practices after moving from competing firms.
James Leonard and Daniel Mason, who bring nearly 60 years of combined industry experience and $404 million in client assets, have joined Millennium Private Wealth from UBS Financial Services, supported by Client Associate Kristen Schaale and Business Development Officer Alana Mason. Millennium Private Wealth operates 10 offices nationwide, with Leonard and Mason based in Raleigh, North Carolina.
Also in Raleigh, Sullivan & Associates Wealth Management, a FiNet practice, added Brian Carr and Phil Romano from Osaic Wealth. Together, they oversee $324 million in client assets.
And in Wilmington, Delaware, senior financial advisor Donald Stegall transitioned to Heirloom Wealth Advisors from Merrill Lynch. With more than 14 years of experience, he now manages $151 million in AUM.
LPL Financial announced that Zarra Wealth Management, led by Christopher Zarra, CFP, ChFC, CFS, has joined its broker-dealer, RIA, and custodial platforms from Ameriprise. The Westbury, New York based team also includes advisors James Kelly, CFP, APMA, and Michele Welch, CFP.
Together, they have 48 years of financial industry experience and oversee around $270 million in advisory, brokerage, and retirement plan assets. They cited LPL’s non-proprietary investment products and enhanced tools as reasons for the move, enabling them to better tailor strategies for families, retirees, and business professionals.
Raymond James welcomed a breakaway team of Florida-based advisors managing approximately $185 million in client assets. Financial advisors Michael “Covey” Davis and Manuel “Manny” Benitez, CRPCTM, CPFA have joined Raymond James & Associates (RJA), the firm's employee advisor channel, from Merrill Lynch. Davis began his career at Merrill in 2005, while Benitez joined the wirehouse in 2019.
Janney Montgomery Scott’s new recruit is Todd Buonocore who has joined as senior vice president, Wealth Management, in its Greenville, Delaware branch. He has more than 30 years of industry experience and nearly $150 million in client assets and was previously with Wells Fargo Advisors.
Meanwhile, Ameriprise Financial recruited two advisors formerly with Commonwealth Financial Network, bringing more than $150 million in combined assets.
Chris Theis, CKA®, FPQP®, based in Millsboro, Delaware, oversees over $100 million in assets. He was joined by Client Service Associate Kristi Osborn; and Michael Thomas, based in Hamilton, Montana, manages more than $50 million in assets and plans to grow through additional hiring and acquisitions.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
