A team of 16 advisors and 12 support staff are changing their affiliation to build on the substantial growth they have enjoyed over the past 14 years.
Watermark Wealth Management has offices in Scottsdale, Chandler and Payson, Arizona, and Minneapolis, Minnesota, and was founded in 2009 during the financial crisis by partner and director of estate planning, Carmen Cercone, and partner Kyle Richardson.
The firm is switching from Kestra to LPL Financial’s broker-dealer, RIA and custodial platforms having seen AUM grow from $230 million to $1.5 billion.
“Our goal has always been to encourage organic growth by recruiting advisors who have demonstrated high ethical moral practices and are committed to putting clients first,” said Cerrone. “We are a one-stop shop and work with other professionals and centers of influence to help ensure our clients’ financial needs are addressed.”
As well as the two founding partners, Watermark Wealth Management’s leadership team also includes Aaron Gordon, Rich Liberante and Jake Cercone.
LPL attracted 268 advisors to its various channels in the three months ended in June, according to the InvestmentNews Advisors on the Move database.
A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to Devoe & Company.
Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.
Meanwhile, Merrill Lynch intends to continue building its alternative investment platform for wealthy clients.
The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.
Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.