People moves
UBS Private Wealth Management
The wealth manager has hired a six-person financial adviser team in Tampa, Florida.
The team offers a range of multigenerational wealth management services.
Combined, they managed approximately $2bn in assets for ultra-high and high net worth individuals and businesses for Bernstein Private Wealth Management.
At UBS, the team will continue to serve clients across Florida and greater Nashville.
The team includes:
- Jay DeGeare, managing director and financial adviser;
- Matthew Gordon, managing director and financial adviser;
- Chase Williams, financial adviser;
- Joseph Jin, financial adviser;
- David Ochotorena, financial adviser; and
- Brooke Banning, team associate.
1792 Wealth Advisors
The Raymond James-backed advisory platform has hired William Shinners, Michael Vaccaro and Lisa Kain to support business development, operations and advisor recruitment at the firm.
Shinners started his career and spent more than 30 years at Morgan Stanley, where he was a managing director and complex manager. He will become director of business development.
Kain will be central to adviser recruitment and Vaccaro will bolster the risk and compliance team. Both worked with
Shinners at Morgan Stanley and Montgomery Wealth Management.
Summit Trail Advisors
An 11-person financial planning team has joined Summit Trail Advisors to join its headquarters in New York City.
It consists of four advisers and seven financial planning professionals. The team, which is led by Alex Shapses, is joining Summit Trail from Heritage Strategies.
Raymond James
The financial services firm has hired 12 financial advisers in south Florida.
The advisers joined the firm’s south Florida complex from Wells Fargo, Merrill Lynch and Morgan Stanley.
Operating out of Raymond James’ Coral Gables office are former Wells Fargo financial advisers Andres Galvez and Edwin Shedd, as well as Maria Jose Pessoa, Lizzette Inchaustegui, Orlando Garcia and Javier Ferreira, Miguel Vivella, Rafael Sagarbarria and Oscar Gonzalez.
Located in the firm’s Fort Lauderdale office is financial adviser Griselda Uzcategui, who was at Wells Fargo. Joining the Boca Raton office is financial adviser Charles Fischer, who was previously at Morgan Stanley.
Operating out of the Palm Beach Gardens location is financial adviser David Letourneau, who joined from Merrill Lynch. Joining him is financial advisor trainee Benjamin Graybow.
Insigneo
The Miami-based advice firm has hired a team who formed Green Grove Wealth Management.
The team is comprised of financial advisers Isadora Del Llano, Yzana Oestreicher, Maria Elena Garcia, and Nilia Gasson.
They join from Wells Fargo.
M&A
Wealth Enhancement Group
The independent wealth management firm has acquired Fitzgerald Wealth Management, an independent financial advisory practice with four advisers.
The transaction is Wealth Enhancement Group’s eighth acquisition in 2021.
Upon the transaction’s close on 30 June, Fitzgerald started doing business under the Wealth Enhancement Group brand, and its founder Michael Fitzgerald was named senior vice president and financial adviser.
The rest of the group consists of Richard Heard, Rachel Garza and Derek Platt.
As part of the transaction, the Fitzgerald group has also affiliated with LPL Financial for the brokerage-based portion of its book of business.
Financial terms of the deal were not disclosed.
Vanguard
The financial services giant has agreed to buy US-based wealth management technology provider Just Invest for an undisclosed sum.
The deal also includes Kaleidoscope, which offers customisable direct indexing.
Just Invest was founded in 2016 and this year its assets under management surpassed $1bn (£725m, €845m). It leverages large-scale data analysis, quantitative algorithms, and risk modelling to deliver portfolio and tax management services through its direct indexing platform.
Vanguard expects the M&A deal to complete in Q4 2021.
