DayMark Wealth Partners and LPL Financial each announced new advisor team additions this week, with DayMark expanding into Florida through a $350 million acquisition and LPL announcing a move at one of its partner RIAs, Strategic Wealth Group.
DayMark Wealth Partners, a $3.8 billion RIA within the Dynasty Financial Partners network, established its presence in Southeast Florida with a team led by a father-daughter tandem, managing partners Steve Rowe and Emily Rowe.
The group, mostly coming from Wells Fargo and FiNet, will operate from new offices in Fort Lauderdale and Stuart.
Joining the Rowes are Victoria Ricker, Patrick Strader, Shayne Cullen and Madison Iandoli in client-facing roles. All but Ricker, who most recently served as an advisor with Janney Montgomery, were part of the same team at their prior firm. Together, they bring expertise in family financial planning, business owner strategies, and liquidity-event structuring.
“This acquisition demonstrates DayMark’s continued ability to attract elite teams that demand the highest standards,” Mike Quin, co-founder and managing partner at DayMark, said in a Wednesday statement revealing the move. “It also establishes our foothold in one of the nation’s most coveted and dynamic wealth management markets.”
Steve Rowe said the team’s decision to join DayMark was driven by a desire for closer alignment with client outcomes. Emily Rowe added, “Operating as full-time fiduciaries allows us to deliver higher-quality advice that truly serves our clients’ best interests.”
Based in Ohio, DayMark extended its presence in Connecticut late last year with another breakaway Wells Fargo team, which previously managed $585 million. More recently in April, it enhanced its reach in Chicago with a veteran-led team from Morgan Stanley.
Elsewhere in Minnesota, four advisors – Mike Trudeau, Matt Merrick, Ben Ollila and Ben Prchal – have joined Strategic Wealth Group, an independent RIA that offers securities and advisory services through LPL Financial.
Based in Lino Lakes, Minnesota, the team comes from Thrivent Investment Management, where they reportedly oversaw approximately $220 million in client assets.
Last month, Thrivent unveiled ambitious plans to grow its employee advisor and independent RIA workforce, targeting some 600 new additions by the end of this year.
Trudeau, Merrick and Ollila have worked together since 2009 and bring a combined 30 years of experience. Prchal, who entered the financial industry in 2021, rounds out the group, which focuses primarily on clients preparing for or entering retirement.
“We approach financial planning like it’s a jigsaw puzzle to solve,” Merrick said. “Each piece of our clients’ financial puzzle – like retirement, Social Security investments, assets and estate planning – must be placed correctly to complete their fiscal picture.”
Trudeau said that independence gives the team the flexibility to better align services with client needs, while Prchal noted the value of having in-house tax resources through Strategic Wealth Group.
Despite record plan participation, many workers remain at risk of inadequate retirement savings as Social Security’s future grows more uncertain.
New tie-ups with Advyzon, RightCapital and PreciseFP reflect growing demand for flexible, connected tools.
The recently rebranded Focus Partners Wealth is growing again, this time with a pending deal for a Fairfax, Virginia advisory firm.
The transaction significantly expands the firm's reach and capabilities.
Northern Trust is "absolutely loaded with wealthy clients," one executive said.
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.
