A multi-family office managing $7 billion in client assets has promoted two long-serving members of its team to key management roles.
Pitcairn has announced that J. Matthew McCarte, CFP, CTFA, is immediately taking charge of all relationship management teams as managing director and head of wealth management. He has been with the firm for 25 years and as a relationship management team leader, he has been responsible for developing, implementing, and monitoring financial plans for many ultra-high-net-worth families.
McCarte will report to new CEO Andrew L. Busser, president, family office at Pitcairn who will assume the role on November 16 from Leslie Voth who continues as chairman of Pitcairn Trust Company.
Meanwhile, managing director Karen Carlson, CFP, who has been with the family office for 13 years, is promoted to lead the Ultra-High-Net-Worth Relationship Management team, reporting to McCarte. Her focus is advising multi-generational families.
"Matt and Karen are both outstanding leaders who have demonstrated a commitment to delivering a client experience that is truly outstanding," said Busser. "They are both experienced leaders who have contributed greatly to making Pitcairn the firm it is today and what we plan to become over the next hundred years. We are pleased to recognize their dedication, abilities, and contributions to Pitcairn's success, and we congratulate them on this milestone."
The 100-year-old firm, incorporated as a trust company, has 75 employees across offices in Philadelphia, New York, and Washington, DC, along with a presence in Florida.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Elsewhere, Sanctuary Wealth recently attracted a $225 million team from Edward Jones in Colorado.
The giant hybrid RIA is elevating its appeal to advisors with a curated suite of alternative investment models, offering exposure to private equity, private credit, and real estate.
The $40 billion RIA firm's latest West Coast deal brings a veteran with over 25 years of experience to its legacy division for succession-focused advisors.
Invictus fund managers allegedly kept $10 million in plan assets after removal, setting off a legal fight that raises red flags for wealth firms.
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.
