M&A
Hightower
The wealth manager has made a strategic investment in Virginia-headquartered Alexandria Capital.
The firm has offices in New York City, Boston, Portland and Alaska.
Led by chief executive Augustine Hong and chief investment officer Jonathan Ferguson, Alexandria Capital serves professionals, entrepreneurs, foundations, family offices, and retirement plans.
The financial terms of the deal were not disclosed.
Wealth Enhancement Group
The independent wealth management firm has agreed to acquire North Carolina-based Carroll Financial Associates.
Founded in 1980 by chairman emeritus Larry Carroll and led by his son, chief executive Kristopher Carroll, the firm has locations in Raleigh and, and Rock Hill, addition to its Charlotte headquarters.
Carroll Financial Associates’ three offices will be Wealth Enhancement Group’s first in the Carolinas.
Upon close, Larry Carroll will serve as senior vice president and financial adviser and Kristopher Carroll will serve as managing director at Wealth Enhancement Group.
As part of the transaction, the practice will be moving its brokerage assets to LPL Financial.
The financial terms were not disclosed.
Mariner Wealth Advisors
The wealth advisory firm has acquired Cincinnati-based RIA firm The Pinnacle Group for an undisclosed sum.
This is Mariner Wealth Advisors’ fifth acquisition since the sale of a minority stake in the company to Leonard Green & Partners in April.
The Pinnacle Group will assume the Mariner Wealth Advisors name at closing, and the Cincinnati office remains under J Scott Sims’ leadership.
Apella Capital
The Connecticut-based registered investment adviser firm will receive a minority investment from Wealth Partners Capital Group, a financial services holding company.
In collaboration with WPCG, Apella will focus on expanding its national presence and partnering with advisory firms.
The WPCG management team will work closely with Apella.
The transaction is subject to customary closing conditions and is expected to close by the end of Q3 2021. The financial terms of the transaction will not be disclosed.
Hub International
The global insurance brokerage and financial services firm has acquired Millennium Advisory Services.
Located in Virginia, Millennium Advisory Services is a financial planning and asset management firm.
Paul Hunt, co-founder and president of Millennium Advisory Services, Steve Anderson, co-founder and vice-president, and the Millennium Advisory Services team will join Hub retirement and private wealth in its mid-Atlantic operation.
The financial terms of the deal were not disclosed.
People moves
Withers
The international law firm has opened a private client and tax operation in Texas.
The practice will be led by Houston-based partner Kevin Keen, who joined the firm earlier this year.
It, in particular, focuses on domestic and international estate planning for ultra-high net worth individuals and families with interests in the US and abroad, including those relocating to Texas or Florida.
Bank of Southern California
The San Diego-headquartered bank has hired Nicole Swain as executive vice president and president of private banking.
Prior to joining Bank of Southern California, Swain was executive vice president and chief banking officer of First Choice Bank.
B Riley Financial
Christopher Michelsen has joined the firm as managing director of investments at B Riley Wealth Management.
He was previously was at UBS Private Wealth Management and joins B Riley with his associate, Jennifer Columbia, who was also previously with UBS.
Alex Brown
The division of Raymond James has hired client advisers based in Miami and New York.
Joining Alex Brown’s Miami office are former Wells Fargo client advisers Juan Felipe Souza, Fernando Riojas, Jaime Badia, James Levy, Jorge Benitez, Doraida Fernandez, Pablo Annovelli and Carlos Paez.
Joining Alex. Brown’s Park Avenue, New York, office is former Avanza Capital Markets adviser Victor Simon Gill.
UBS Wealth Management USA
Financial advisers Micah Roberge and Shaun Hawkins have joined the wealth manager in Portland, Maine.
Also joining the firm is senior registered client service associate Deborah Erickson.
The team are called The Roberge Hawkins Group and join from Merrill Lynch.
Snowden Lane Partners
The wealth firm has named Paula Oddone as partner and managing director.
Based in Snowden Lane’s Coral Gables office, Oddone joins from Wells Fargo Advisors, where she was senior vice president of investments.
