Americana Partners and LPL announced new additions to their advisory networks on Monday, with Americana welcoming an elite quartet of breakaway advisors and LPL extending record of recruitment from Osaic.
Americana Partners, which is part of the Dynasty Financial Partners Network, revealed it has expanded its ultra-high-net-worth footprint with the addition of a four-person team from Morgan Stanley, previously known as The AHM Group.
The team, based in Houston, previously managed $1.5 billion in client assets and brings extensive experience working with family offices, endowments, and high-net-worth individuals.
Joining the firm are Palmer Moldawer, Will Carsey, Will Gutkowski, and Kayla Sickman.
Moldawer, whose 37-year record as a Finra-registered broker also includes an eight-year stint at UBS, takes on the role of managing director and private wealth advisor.
Gutkowski and Carsey both join as senior vice presidents, with Gutkowski focusing on corporate retirement plans and Carsey offering his expertise to family offices, high-net-worth individuals, and philanthropic organizations. Sickman will serve as vice president, emphasizing client experience.
“They are true professionals in every sense of the word and have built a solid reputation and track record among the ultra-high net worth community in Texas and beyond,” Ron Thacker, president of Americana Partners, said in a statement Monday. “I have known Palmer and his team for nearly 20 years and have seen first-hand how they put their clients’ interests first.”
Americana CEO Jason Fertitta said the addition reflects the firm’s ongoing effort to attract like-minded professionals. “Palmer and his team share our commitment to helping successful families, entrepreneurs, and institutions navigate the ever-changing world of investing and wealth planning,” he said.
Americana, which manages $10 billion in assets, is part of the Dynasty Financial Partners network. The firm operates offices in Houston, Austin, Dallas, Los Angeles and the Permian Basin, and also maintains a Latin America-focused international division.
Most recently in March, Americana took its first step outside Texas with the acquisition of Los Angeles-based Boulevard Family Wealth. It celebrated its anniversary last month, the sixth since launching in 2019 with $2.6 billion in AUM.
Meanwhiile, LPL Financial revealed it has brought on Northern Advisory Group, comprising 10 advisors who were previously affiliated with Osaic.
Based in Fairfield, New Jersey, the group collectively manages about $300 million in advisory, brokerage and retirement plan assets. The team joins LPL’s broker-dealer, RIA and custodial platforms.
Founding partners Richard DiTaranto, Brian DiBrino and Jeff Miller, who launched the practice in 2004, are joined by advisors Anthony Fresella, Daniel Greenwood, Griffin Durand, Robert Kelley, Seamus Nelson, Jaret Mittenthal, and Damien DiTaranto. The practice takes a holistic, goals-based approach to planning.
“We really take the time to understand our clients’ fiscal goals – both in the short and long-term – by asking where they would like to be in 10-, 15-, 20-years,” DiBrino said. “Using that information, we put together a customized plan, get our clients’ buy-in and then work with them to make adjustments over the years to help them pursue their financial goals.”
Richard DiTaranto added, “Client education is key because we want our clients to understand the process and take an active role in their financial futures. We want them to ask questions and take a vested interest in how their money is invested.”
LPL has been a destination of choice for advisor teams leaving Osaic, including this year's most recent Osaic-to-LPL migrations in California, Connecticut, and New York.
At one point in March, Osaic appeared to be one of the most logical acquisition targets for LPL as industry observers saw signs that the latter preparing was preparing for a sizeable buy. The deal revealed later that month was actually a $2.7 billion agreement to acquire Commonwealth, which has kicked off a frenzy of recruitment offers from rival firms looking to attract Commonwealth's elite teams and advisors to their own organizations.
Meanwhile, Carson Group extends its acquisition strategy with a Maryland-based advisory practice.
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