Citizens adds $1.5 billion New York team as it accelerates wealth push

Citizens Financial Group has hired a three-person advisory team that previously oversaw $1.5 billion in client assets, marking its latest move to deepen its presence in the New York City wealth market.

The group – led by Adam Waldman, Daniel Menton, and Vincenzo Iannucci – joins Citizens Private Wealth, the firm’s ultra-high-net-worth advisory unit.

Menton and Iannucci were previously with Flagstar Advisors within Flagstar Private Bank in New York, according to their BrokerCheck profiles. Waldman, with nearly a decade and a half of industry experience, was previously affiliated with Triple P Securities.

The trio brings over 40 years of combined experience and will serve families, business owners and institutions with complex financial needs.

They will be based in New York and work closely with Citizens Private Bank and Citizens Commercial Bank.

“We are excited to join Citizens at this pivotal moment of growth in the New York market,” said Menton, managing director at Citizens Private Wealth, in a statement provided exclusively to InvestmentNews. “With Citizens’ extensive capabilities, we will provide clients with a truly integrated experience, seamlessly addressing their wealth, private banking and commercial banking needs.”

The move supports Citizens’ broader effort to scale its national wealth business. Since 2022, the bank has added branches and teams across the Tri-State area following its acquisitions of HSBC’s East Coast operations and New Jersey’s Investors Bank. The firm has recently opened a private banking office in Manhattan and operates 174 branches in the region.

Tom Metzger, head of private wealth advisors at Citizens, said the hire “significantly strengthen[s] our presence and capabilities in this vital region,” adding that Citizens remains focused on bringing in top advisory talent to fuel its expansion strategy.

Meanwhile in Texas, LPL Financial has added advisor Jason Wyatt to its brokerage, RIA and custodial platforms. Based in Bryan, Wyatt is launching Wyatt Wealth Management as an independent firm after departing Wells Fargo Advisors. He reports managing approximately $180 million in client assets across brokerage, advisory and retirement plans.

Wyatt, who has more than three decades of experience, said the move reflects a desire to operate with more autonomy. “I see this move to LPL as an opportunity to regain my independence and to grow my business my way,” he said in a statement on Thursday.

Recently, LPL welcomed another breakaway team in California as a $425 million group from RBC launched their own independent practice in San Diego.

Elsewhere, Osaic added Porpora Wealth Management, a Hudson Valley-based firm managing close to $100 million in assets. The team, led by father-son advisor duo Ralph and Michael Porpora, joins from B. Riley Wealth Management and is now affiliated with New York Financial Partners in Jericho, New York.

“We chose Osaic because of its flexibility, robust platform and sense of community,” Michael Porpora said in the Thursday move announcement from Osaic. “Our experience since joining has more than validated that decision.”

The addition comes shortly after Osaic announced a deal to snap up $13.5 billion RIA CW Advisors, which had previously been owned by Audax Private Equity.