People moves
Pacific Life
The US life insurer has named Alessandro Papa as chief risk officer.
Papa joins from MetLife, where he served as chief of staff to the president and chief executive.
Summit Financial
The financial services firm has added Ed Friedman to its executive team as head of business development and growth.
Prior to joining Summit Financial, Friedman spent nearly six years at Dynasty Financial Partners in several positions, most recently as the national director of practice management.
Snowden Lane Partners
The independent wealth advisory firm has hired Daniel Rodriguez as a partner and managing director of its Coral Gables, Florida office.
Rodriguez joins the firm from Merrill Lynch, where he was previously a senior vice president and portfolio adviser.
Oakview Capital Management
The independent registered investment adviser (RIA) has named Jeff Fahrenbruch as a principal.
Fahrenbruch previously served as managing director and equity portfolio manager at Barrow, Hanley, Mewhinney & Strauss.
RBC Wealth Management
The wealth firm has hired a team to join its Fond du Lac branch in Wisconsin.
The MidTown Wealth Management Group joins RBC from Wells Fargo Advisors and manages approximately $688m (£549m, €626m) in assets.
The team is composed of:
- Gregory Fuerst, senior vice president and financial advisor, who will act as branch director;
- John Welsch, senior vice president and financial adviser;
- Michael Korb, senior vice president and financial adviser;
- Carl Helleberg, senior vice president and financial adviser;
- Barbara Frenz, vice president and financial adviser;
- Kristan Janssen, branch service manager and senior investment associate; and
- Beverly Hebenstreich, client associate.
Also, RBC Wealth Management has hired four advisers to its North Jersey office.
Joining the firm from Merrill Lynch with approximately $472m in combined client assets are:
- Frank Taylor, director and financial adviser;
- Frank Malcolm Minor III, first vice president and financial adviser;
- William Taylor, vice president and financial adviser;
- Eric Taylor, vice president and financial adviser;
- Angela Mary von Spreckelsen, senior registered client associate;
- Stacy Lee Goerner, senior registered client associate;
- Yamei Stephanie Chang, senior business associate.
Raymond James
The firm’s broker dealer has hired financial advisers Mark Albright, Michael Ward, Andrew Dibble Cole Dimond, Bob Olvera, Reisha Fregoe and Michael Richards, to its Overland Park, Kansas office.
The team, which operates as Caliber Wealth Management (CWM), joins from Ameriprise Financial Services, where the advisers managed more than $350m in client assets.
The advisers are joined by six team members including:
- Paraplanner Brent Bloomer;
- Client service manager Linda Daza;
- Client relationship manager Frances Gingles; and
- Administrative assistants Donna Hankins and Katie Manning.
Elsewhere at the firm, financial adviser Bill Dendy and his team have joined its office in Dallas,
Dendy operates as Elite Financial Management and joins from LPL, where he managed more than $415m in client assets.
Joining him at Raymond James are:
- Operations manager Julie Chapman;
- Client concierges and RJFS registered representatives Kibb King, John Thompson and Todd Pace;
- Client concierge and RJFS relationship manager Eamon Devlin; and
- RJFS branch associate Madison Montgomery.
M&A
Raymond James
The Canadian arm of the US broker-dealer has completed the acquisition of Ontario-based Oak Trust Company.
Following regulatory approval, the division will be named Raymond James Trust (Canada).
The financial terms of the deal were not disclosed.
Exencial Wealth Advisors
The independent wealth management firm has agreed to acquire Willingdon Wealth Management, a North Carolina-based registered RIA.
Willingdon will add $800m in assets to Exencial’s book of business.
In addition to its headquarters in North Carolina, Willingdon has satellite offices in Connecticut, Ohio and California.
The deal is expected to close on 1 June 2020 and terms of the transaction were not disclosed.
