DA Davidson picks up $1B AUM team from Truist for new office

DA Davidson picks up $1B AUM team from Truist for new office
Wilmington becomes the firm’s fourth location in North Carolina.
OCT 23, 2023

A team of eight wealth management professionals has joined D.A. Davidson & Co. in North Carolina.

With a collective AUM of $1 billion, the team was formerly affiliated with Truist and includes senior vice presidents, financial advisors, and portfolio managers, Andy Vestal and Matt Bryant.

Vestal has more than 30 years of experience in the industry as a CPA and senior trust advisor, while Bryant has almost 20 years in financial services. 

“We are pleased to welcome Andy and the team to D.A. Davidson,” said Randy Domikis, senior vice president, market director and branch manager at D.A. Davidson. “Their experience and values are aligned with our firm, and we look forward to continuing to serve clients in this region.”

Headquartered in Great Falls, Montana, D.A Davidson Wealth Management has been operating for 87 years and currently has 829 professionals across 84 locations.

Operating as the Vestal Financial Group, Financial Advisors with D.A. Davidson & Co., the new team’s office in Wilmington becomes Davidson’s fourth in North Carolina following Charlotte, Greensboro, and Winston-Salem, all of which opened last year including a $456 million team who also switched from Truist to launch High Meadows Wealth Management group across two offices.

D.A Davidson also picked up a $446 million team in South Carolina last year.

Latest News

Retirement delays, Social Security fears prompt advisors to rethink income strategies
Retirement delays, Social Security fears prompt advisors to rethink income strategies

Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.

Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity
Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity

Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.

Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler
Barred ex-Merrill Lynch advisor arrested in alleged $2.6M theft of former Miami Dolphin Pro Bowler

Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.

RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut
RIA moves: Modern Wealth tops $8.5B AUM as Aspen expands in Connecticut

Modern Wealth's latest deal for a California-based fee-only RIA marks its fourth acquisition of 2025.

Empower defends private market access in 401(k)s in response to Warren scrutiny
Empower defends private market access in 401(k)s in response to Warren scrutiny

Sen. Warren has warned of private market investment risks due to opacity, illiquidity, and past regulatory issues.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.