Two independent firms have bolstered their presence in Chicago by recruiting advisor teams from wirehouses, underscoring the city’s strategic importance in national wealth management expansion plans.
On Monday, DayMark Wealth Partners, a $3.7 billion firm affiliated with Dynasty Financial Partners, announced that a three-person advisory team led by John Kaufman has joined its platform. The group, which manages $200 million in client assets, marks DayMark’s first formal step into both Chicago and Park City, Utah.
Kaufman brings more than three decades of experience with a focus on long-term planning, customized portfolio design and alternative investments. He is based in Park City, while his team members – portfolio manager Gregg Kaplan and director of client relations Hilary Bryson – operate out of Chicago.
“The firm’s multi-generational approach and deep bench of resources provide us with the tools we need to serve clients while building long-term relationships,” Kaufman said in a statement.
Kaufman was previously affiliated with Morgan Stanley, according to his BrokerCheck profile. Earlier in his career, he was with Mesirow Financial as a registered broker and investment advisor.
DayMark, which launched three years ago in Cincinnati, has grown steadily by aligning with teams that have both institutional experience and private client relationships. It has proven to be a destination for breakaway advisors, including a couple of teams from Wells Fargo over the course of the past two years.
In a statement, managing partner Mike Quin said Kaufman’s team “strengthens our capabilities and expertise in alternative investments” while extending reach into key growth markets.
Also expanding in Chicago is Rockefeller Global Family Office, which recently added Rathi Wealth Partners and Singh Wealth Partners from Merrill Lynch Private Wealth Management. With the new additions, Rockefeller now counts 10 advisory teams in the greater Chicago area.
Rathi Wealth Partners is led by Raj Rathi and includes Dean Turner, Stacey Specht, John Clayton Bowers, and Patrick Gawne. Singh Wealth Partners is led by Kanwar Singh and supported by Steve Coleman, Chandra Federle, Krishna Vege, and Savannah Neal.
Both teams specialize in serving high- and ultra-high-net-worth clients with complex financial needs. They will report to Brett Thelander, northern divisional director of Rockefeller Global Family Office.
“Chicago is an incredibly vibrant market and a significant hub of innovation across industries, from cutting-edge technology companies to healthcare to manufacturing,” Thelander said.
Rockefeller's addition in Chicago comes on the heels of another expansion in the East Coast, in which it added a breakaway group from UBS to its footprint in New Jersey.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
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.
