This Week in Wealth Management M&A: March 22nd


    The pace of mergers and acquisitions seemed to have slowed this week, but the drama is big. Boston Private responded to HoldCo’s allegations of imbalances and a low valuation when the activist investor tried to stop selling the company to Silicon Valley Bank.

    In more upmarket news, Cynthia Hewitt, who spent over four decades at Merrill Lynch, is stepping out of retirement to join Snowden Lane. A college course for retirees in the markets revived her passion for the business, she said.

    Below are additional acquisitions, mergers and advisor changes for the week ending March 26, 2021.

    LPL picks up team from advisory group

    LPL Financial’s oversight office, Wealth Consulting Group, has assembled a $ 450 million team from SagePoint Financial of the Advisor Group.

    UBS brings two consultants together

    Jin Hu joins UBS’s New York office from Merrill Lynch Wealth Management, where she has $ 11 million in assets under management and $ 700,000 in trailings. Advisor Fred Gatti is moving from HSBC Private Bank to UBS, where he managed $ 600 million.

    Four consultants join Alex. brown

    Alex. Brown, a division of Raymond James that serves individuals and institutions, has successfully recruited a handful of wirehouses consultants. Christopher Murrle-Philippsen lives in Miami and comes from Wells Fargo. Lee Haverstock is based in Atlanta and comes from Morgan Stanley. William Taylor, a consultant from Winston-Salem, NC, was from Merrill Lynch, and Mark Murphy is a consultant from Washington, DC, who came from Janney Montgomery Scott. The advisors collectively manage $ 700 million in assets under management.

    RBC Wealth Management grabs a Merrill Lynch team worth $ 240 million

    Consultants Aaron Keith and Ryan Carr are the newest additions to RBC Wealth Management. The two consultants, who jointly managed $ 240 million at Merrill Lynch, join RBC’s Florham Park, NJ office.

    Sanctuary Wealth adds two companies

    Former consultants to Merrill Lynch, Michael Hull and Ben McAnally of the Hull & McAnally Group, have joined Sanctuary. The duo will now operate under the name Cedar Wealth Management in Abilene, Texas.

    Sanctuary also added RHA Wealth, a Raleigh, NC company that has approximately $ 250 million in client assets. The company is led by John Rumsey, Robert Hartinger and Clark Abbott.

    US Bancorp loses adviser from oXYGen Financial

    Consultant Matt Goldstein left US Bancorp for Kestra Financial. Goldstein joins oXYGen Financial, an Atlanta-based company with an AUM of $ 1.9 billion in the company’s recently opened location in Boulder, Colorado.

    Tim Vanderloo trades his life at Wells Fargo for LPL Financial

    Tim Vanderloo, who managed $ 200 million at Wells Fargo, joined Silver Leaf Wealth Management, a $ 1 billion affiliate of LPL Financial.

    Americana Partners hires Ronald Thacker as president

    Ronald Thacker previously worked for Morgan Stanley Wealth Management as the company’s managing director and regional director and headed the company’s central region. Thacker joins $ 3.5 billion Houston-based Americana Partners, but Thacker will be based out of Austin.


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