Among the latest advisor moves announced this week are new recruits for Osaic, Sanctuary, and Composition with combined assets under management or advisement of more than $1.4 billion.
At Osaic, Daniel Luegers launches BlueHaven Wealth Management in Hudson, Ohio. The 25-year veteran of the wealth management industry including two decades at Valic Financial Advisors and shorter periods at UBS Wealth Management and Corebridge Financial. BlueHaven has more than $400 million in assets under advisement.
“Dan exemplifies the growth-minded, client-centric advisor who excels on Osaic's platform,” said Kristen Kimmell, executive vice president of business development at Osaic.
Heading for independence in Indianapolis, Indiana, is Bernard Reed who leads Velorum Wealth Management, a $580 million AUM firm that joins Sanctuary Wealth’s Partnered Independence model. Reed was previously with Bank of Montreal Private Wealth.
“Coming from an extremely large institution and starting an independent practice can be a major leap of faith,” said Reed. “With Sanctuary, however, I’ve been able to make the transition with confidence. The scope of what I can now do for clients is incredibly powerful – transformative, in fact. I see myself as a problem solver for my clients, but to be effective, I needed to have the right tools. Sanctuary gives me those tools. These resources are immediately catapulting my capabilities past where I was and are setting me up for ongoing success.”
Velorum specializes in working with individual and family business owners who lead companies valued between $10 million and $100 million including entrepreneurs looking to sell their business.
Meanwhile, Composition Wealth expands its footprint with the onboarding of two advisory teams with a combined $481 million AUM.
Blue Oak Capital, led by Thomas Baker, CFA extends Composition’s Bay Area footprint into Silicon Valley, while Centricity Wealth Management, founded by husband-and-wife team Chris Ciehanski, CPA, CFP, CRPC and Wendy Ciehanski, CRPC, establishes Composition’s first Ohio office, in Columbus.
These additions come on the heels of Composition Wealth’s recent rebrand from Miracle Mile Advisors and reflect the firm’s ongoing strategy of intentional growth.
Since Bruce Milam’s appointment as CEO in June 2023, the firm has integrated eight advisory partnerships including teams from Los Angeles, Seattle, Baltimore, and Chicago, establishing a nationwide platform that serves high-net-worth individuals, families, and business owners.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
