M&A
Savant Wealth Management
The registered investment adviser (RIA) firm has acquired Atlanta-based Capital Directions for an undisclosed sum.
With approximately 25 employees and $3.3bn (£2.75bn, €3.12bn) in assets under management, Capital Directions represents Savant’s largest acquisition to date and its first of 2023.
It also expands Savant’s US footprint to 10 states and 26 offices. After the closing, Savant’s AuM totals nearly $18bn.
Members of Capital Directions’ ownership team, including chief executive Dennis Covington, managing director Terry Hartigan, chief investment officer John McMillen, and director of financial planning Richard O’Donnell will each become significant equity owners in Savant, along with relationship manager Michael Bork, and wealth adviser Miriam Falaki.
Exencial Wealth Advisors
The wealth management firm has merged with Connecticut-based Shoreline Financial Advisors.
The Shoreline team, led by Brendan Smith, partner and Patrick Smith, partner, will transition $220m in assets to Exencial’s registered investment adviser.
The duo will serve as partners and senior wealth advisers.
Exencial has operated in Connecticut for 15 years and Shoreline, which will maintain its Guilford office, will be the third location in the state.
Mariner Wealth Advisors
The wealth advisory firm has acquired California-based Walker Wealth for an undisclosed sum.
The deal marks the 12th acquisition by Mariner Wealth Advisors in the past 12 months and establishes the firm’s 14th office in California.
Founded in 1997 by chief executive and president W Craig Walker, Walker Wealth currently serves over 170 clients with $301m in assets under advice.
Walker Wealth will retain its existing leadership team upon joining the Mariner Wealth Advisors brand, and will become the firm’s 85th office nationwide.
GYL Financial Synergies
The Focus Financial partner firm has bought Pennsylvania-headquartered Hotaling Investment Management for an undisclosed sum.
Founded in 2012, Hotaling Investment Management is a wealth management firm providing financial guidance and investment management to high net worth individuals and families, with a niche in serving women business leaders and professional cyclist clientele.
People moves
Kingswood US
The wealth management firm has hired Brian Herman and his team including four wealth managers to its corporate office in Boca Raton, Florida.
The team joins Kingswood from ViewTrade Securities, a provider of brokerage and trading platform services.
UBS Wealth Management USA
Mike Mimick has been promoted to market executive for the midwest region at the wealth manager.
He will be responsible for leading UBS’ wealth management business and financial advisers based in Minnesota, Nebraska, Missouri, Oklahoma, Kansas, Wisconsin, Iowa, South Dakota and North Dakota.
Mimick has been with UBS for 18 years and has been a field leader since 2007.
Youngs Advisory Group
The independent advice firm has hired Justin Clark as a senior wealth manager at its Lehigh Valley, Pennsylvania office.
Prior to joining Youngs, Clark spent several years as an independent financial adviser at Evolution Financial Group.
Sentinel Group
The financial services firm has named Ryan Campagna, Douglas Dustin, Benjamin Healy and Gregory Puig as equity partners.
Campagna is head of sales, Dustin is chief financial officer, Healy is chief operating officer and Puig is head of group insurance.
Rockefeller Capital Management
The financial services firm has hired the Florida-based The Jones Connolly Pollock Group to its Rockefeller Global Family Office.
It is the firm’s first private adviser team in the greater Orlando market.
The team is led by managing directors and private advisers Garrett Jones, Sean Connolly and Gregory Pollock.
Also, Rockefeller has hired Indiana-based Cowles Wealth Partners to its midwest division.
The team includes managing director and private adviser Trent Cowles, vice president and senior client associate Jennifer Ruble, and investment analyst Charlie Moffitt.
In other news, Rockefeller has brought in California-based Leach Wealth Partners to its southwest division.
The team includes managing director and private adviser Paul Leach, and associate vice president and senior client associate Jerry Daly.
