Park Avenue Capital Planning and Strongpoint Wealth Advisors, two New York-based wealth managers affiliated with Northwestern Mutual, are merging to create Park Avenue Capital, which will manage more than $1 billion in assets.
Ben Feldman, president of Park Avenue Capital Planning, and Peter Tiboris, president of Strongpoint, will continue to manage the combined firm.
"Together, through Park Avenue Capital, Peter and Ben are combining two of the more successful practices in our industry into a firm with exceptional capabilities and the capacity to accelerate the impact they are creating for clients," Loren Morris, vice president of adviser practices at Northwestern Mutual, said in a statement.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
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