LPL, Evercore welcome West Coast breakaways

LPL Financial and Evercore Wealth Management have fired the first shots in the June battle for advisor talent, with both firms welcoming breakaway teams to their respective networks in California.

LPL Financial said on Monday that advisors Christian Reuter, James “Scott” Robinson and Michael Capeder have launched Arv Private Wealth in San Diego.

The group joins through LPL Strategic Wealth, the firm’s supported independence model, after departing RBC, where they reported overseeing approximately $330 million in combined advisory, brokerage and retirement plan assets.

Reuter and Robinson have worked together since 2012, with a combined 60 years of experience in the financial sector. Capeder entered the industry in 2018. The new firm’s name, Arv, is drawn from the Danish word for “legacy,” a concept the advisors said reflects their intention to offer comprehensive and long-term client support.

“Clients face a myriad of situations throughout their lives – both good and bad – and it’s our responsibility to be there for them,” Reuter said in the Monday statement announcing their move to LPL. “For us, it’s not just about managing their wealth; it’s about being there for our clients when they need us most.”

Before the Arv team, LPL has notched several significant additions from wirehouse to its Strategic Wealth platform over the past year, including a $1.2 billion father-son duo from Morgan Stanley and an ex-Merril trio who reported managing $685 million in Kansas.

Meanwhile, Evercore Wealth Management announced the hiring of four former Silicon Valley Bank advisors to its San Francisco office. The newest additions – Ryan Fox, Flavia Araujo Trento, Brandon Frandsen, and Winnie Yam – each also previously worked at Northern Trust.

Fox and Trento join Evercore as partners and portfolio managers. Frandsen was named managing director and wealth and fiduciary advisor, while Yam was appointed director and wealth and fiduciary advisor. The team will work alongside Evercore staff in both San Francisco and Menlo Park to serve high-net-worth clients, including tech entrepreneurs and executives.

“This is an exciting development for our firm,” Chris Zander, CEO of Evercore Wealth Management and Evercore Trust Company, said on Monday. “Our new colleagues have substantial experience providing comprehensive wealth management solutions to ultra-high-net-worth families, entrepreneurs and executives in technology and other high-growth sectors.”

Evercore, which reported managing $13.6 billion in client assets as of March 31, said the hires reflect its ongoing commitment to expanding its presence in key regional markets. The firm brought on Jon Kropf in January to head the San Francisco office.

“Ryan, Flavia, Brandon and Winnie are accomplished wealth management professionals and complementary team players,” Kropf said. “We are pleased to integrate them into our distinctive culture and platform.”