Three advisory firms, LeoGroup, the Capital Company and BFT Financial Group, have merged to form Leo Wealth, managing $4.3 billion and providing wealth and asset management along with international tax and estate planning.
The new firm combines the wealth management and fund services units of the LeoGroup, which together oversee $647 million from the firm's headquarters in Iselin, New Jersey; the Capital Group, which is based in Hong Kong; and BFT Financial Group, a hybrid managing $609 million in Hurst, Texas, which is outside of Dallas-Ft. Worth.
"The pandemic and other geopolitical risks have created new challenges for global citizens looking for wealth creation and protection across international borders,” said Jessica Cutrera, president of Leo Wealth in Hong Kong. “We understand their aspirations and can help clients capture these opportunities.”
Matthew Allain, formerly head of the LeoGroup, is chief executive of the new firm based in New York, and Stephen Tally, formerly of BFT Financial, will serve as chief operating officer based in Texas.
Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
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