Advisor moves: Nebraska RIA crosses $1 billion after absorbing ex-RBC team

Prairie Wealth Advisors has merged with The McEwen Group, a five-person advisory team that previously operated under the RBC Wealth Management umbrella, pushing the combined firm past $1 billion in client assets.

The McEwen Group joins the Lincoln, Nebraska RIA with more than $400 million in assets under management and roughly $200 million in 401(k) assets. The firm will retain its name within Prairie Wealth and continue serving mass affluent, high-net-worth and ultra-high-net-worth families.

Tim McEwen, CFP, who led The McEwen Group as managing director, will take on a dual role at Prairie Wealth as both a wealth advisor and managing partner, and will assume the title of president. Prairie Wealth founder and CEO Craig Hundt and McEwen have known each other professionally for close to ten years.

"There's a lot to consider when moving from the broker-dealer world into independence," said McEwen. "My trust in Craig as a leader gave us confidence in this decision, knowing we were joining a team with a long history of running a great business and always putting clients first. That foundation allows us to continue strengthening the relationships we've built with our clients and each other over time."

Three McEwen Group staff members are joining as part of the deal: Jon McGrew, CPFA, as vice president and financial advisor; Brooke Wimes as director of client services; and Isabelle McEwen as administrative assistant.

Prairie Wealth has built its investment approach around municipal bonds and alternative investments, while The McEwen Group brings a more equity-oriented perspective along with deep experience in estate and succession planning, cash balance plans and captive insurance strategies.

Edward Jones advisor goes indie

Meanwhile, in Arizona, Raymond James Financial Services has recruited Tom Palomares, CFP, a Tucson-based advisor who previously managed $126 million in client assets at Edward Jones.

Palomares, who has worked in financial services since 2013, spent seven years at Edward Jones before making the move to RJFS, the firm's independent contractor channel. He has joined the established SilverTree Wealth Partners team, where he will serve individuals, families and business owners.

"Raymond James offers the culture, investment resources and independence that were most important to me as I considered this next chapter," said Palomares. "I'm excited to pair those capabilities with a client-first approach as I continue helping clients pursue their financial goals."

Palomares holds an MBA from Norwich University in addition to his CFP designation. His move was announced by Theresa Schnetz, Western division director for Raymond James Financial Services.