A trio of independent RIAs have announced leadership appointments and strategic shifts this week, underscoring continued growth and organizational evolution across the sector.
Dakota Wealth Management, a Palm Beach Gardens-based firm with $6 billion in assets under management, promoted three senior leaders to executive positions as it looks to expand its advisory and investment capabilities. Bryan Keller, previously chief strategic officer, has been named president. He will focus on advisor development and scaling the firm’s strategic initiatives.
Leslie Arsenault Metz, general counsel, will assume the additional role of chief operating officer. Her work to improve internal compliance and legal operations will now extend across the firm’s broader operational platform. Tim Melly, formerly director of investment solutions, has been appointed chief investment officer. He joined Dakota in 2021 through an acquisition and is leading efforts to develop the firm’s first internally managed ETF, expected later this year.
“Elevating Bryan, Leslie and Tim will help power Dakota’s sustainability, growth, and exceptional culture for many years to come,” Peter Raimondi, founder and CEO, said in a statement.
Since its 2018 founding, Dakota has completed 15 acquisitions. In the first half of 2023, it increased its assets under management by $2.5 billion, with recent acquisitions continuing to show organic growth in 2024.
In Tennessee, CapWealth has hired Blake Harrison as executive vice president of wealth management, adding new tax planning depth as the $1.7 billion firm shifts toward a multifamily office model. Harrison joins from LBMC, where he was a partner overseeing the tax division.
His addition brings expertise in estate design, charitable giving strategies, and multigenerational wealth planning – areas CapWealth says are increasingly important as its clients’ needs become more complex.
“We pride ourselves on deep relationships and strategic investment guidance, and Blake allows us to deliver on that promise on a new level,” Tim Pagliara, CapWealth’s founder and chief investment officer, highlighted the firm's "deep relationships and strategic investment guidance," while highlighting Harrison's hiring as an opportunity to "deliver on that promise on a new level."
Harrison said he looks forward to creating more integrated solutions across tax, legal, and investment domains.
Meanwhile, in Tulsa, Allegiant Wealth Advisors has launched as an independent RIA with $1 billion in assets. The firm was founded by Jim Arens, former chairman, president and CEO of Trust Company of Oklahoma.
Founded in 1981, TCO is the state's oldest and largest independent trust company. Among other services, it offers fiduciary trust services, investment management, and retirement plan design.
Arens, who spent nearly 25 years at TCO before resigning in August 2023, according to his LinkedIn profile, said the decision to go independent was driven by a desire for greater flexibility in client service.
“Our independence gives us the freedom to provide robust solutions to manage the unique and evolving needs of clients,” Arens said.
Allegiant offers investment management, tax and estate planning, and family office services for high-net-worth individuals and foundations.
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
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
