Deals & Moves: Wealth Enhancement Lands Teams Overseeing $993M
Wealth enhancement, one Minneapolis-based registered investment advisor He brought the investment advisory business of Raleigh, NC-area WealthShield Partners and its associated wealth management practice, Madison Oaks Wealth Partners, overseeing $158.2 billion in client assets.
WealthShield Partners is led by Managing Partner Robert Leggett, and Madison Oaks Wealth Partners is led by Managing Partner Scott Lord and Associates Kenny Bollinger, Stuart Gay and John Maher. The companies operate under the names Emerald Group and Madison Oaks Group as a wealth management firm.
WealthShield Partners was founded in 2013 and focuses on high net worth individuals, retirees, professionals, business owners and executives.
Madison Oaks Wealth Partners was founded in 2017 and provides financial planning and investment management to affluent individuals and families.
“From our very first conversation, we were confident that Wealth Enhancement’s client-first culture, long-term vision and commitment to independence aligned with our company values,” Geeta said in a statement.
Williams Private Wealth Advisors and Advisors advised on the deal.
Inseparable partners add $800MFMB wealth management
Indivisible Partners, a Clearwater, Fla.-based advisor-owned growth partnership, is part of FMB Wealth Management, Westlake Village, Calif. , a wealth advisory firm, has increased by $800 million.
FMB was co-founded by Debbie and Tom Fields in 1994, and following Tom’s passing in 2018, Debbie served as CEO for 8 years. Debbie has transferred majority ownership to her existing partners in Grant Blindbury, Danny Mock and JJ Fields to create an undivided partnership.
“This is an opportunity not only to continue the legacy of The Fields, but also to share the story of its roots and continue the significant growth we have achieved over the past eight years,” Blindbury said in a statement.
FMB joins a growing network of integral partners Former Merrill Lynch wealth manager John Thiel in 2024.
Through the move, FMB was able to access expanded operational infrastructure, investment resources, planning capabilities and growth leaders without disrupting client relationships and culture. The firm focuses on business owners, professional athletes, executives, multigenerational families, high net worth individuals and philanthropists.
Managing Advisors join Ameriprise, which has merged with $740M in assets
Two advisory groups representing $740 million in client assets have left their respective firms to join Ameriprise Financial, according to announcements each week.
Sher Yeshiva Group, based in Melville, NY and Naples, Fla. -based financial advisory practice, Ameriprise Financial has joined the Wells Fargo Clearing Services branch channel after overseeing $470 million in client assets. The practice is led by financial advisors Glen Scheer and Michael Yeshiva, and includes financial advisor Philip Basile and registered client service associate Kathryn Asser-Richard.
“Ameriprise is separate as we evaluate where we want to build the next phase of our practice,” Scheer said in a statement. “We are impressed with the company’s technology and have found it to be superior to anything we have experienced in the industry, especially in terms of how we can now serve our customers more efficiently.”
In Sebring, Fla. , Inc.-based private wealth advisor Johnson & Johnson Wealth Advisors has joined the independent Ameriprise Financial channel from Raymond James Financial Services, managing more than $270 million in client assets.
The practice is led by private wealth advisors Dusty Johnson, Craig Johnson and Travis Stivender and includes Operations Manager Michelle Bednosky and Client Relations Specialist Christine Johnson.
“Joining Ameriprise is an exciting new chapter for our practice, but our commitment to our clients remains unchanged,” Johnson said in a statement.
Ameriprise has been working to retain and increase consultants a Competitive recruiting environment. The company will report second-quarter earnings on July 23.
LPL RIA channel lures advisory groups combined $1.1B
LPL Financial this week attracted advisors representing about $1.1 billion in client assets, according to the San Diego-based independent broker/dealer.
Advisor Alan Feutz has left JP Morgan to join LPL-affiliated wealth manager Genesen Wealth, which operates a broker/dealer RIA platform, managing about $725 million in advisory, brokerage and retirement-plan assets. In addition, Buell Wealth Management financial advisors, who managed approximately $370 million in client assets, joined LLC’s broker/dealer and RIA platform from Bull Securities Corporation.
Feutz is based in Deerfield, Ill., and brings more than two decades of industry experience, primarily working with individuals and families approaching or living in retirement. His practice emphasizes wealth management, including retirement planning, tax-aware strategies, legacy planning and multigenerational wealth discussions.
“Coming from a banking environment, the safety and security of customer assets were extremely important issues,” Feutz said in a statement. “LLL’s history, scale and operational strength give me confidence, and Genesis’ wealth gives me the environment to spend more time with customers and provide a more personalized experience.”
in Glastonbury, Conn. Based in Buell Wealth Management consists of five advisors. The team is led by CEO Chris Berris, who has over 40 years of industry experience and has held the leadership role since 1997.
“We have spent many years evaluating the right long-term solution for our business and our customers,” Berris said in a statement. LPL provides the services Technology And we want to streamline our operational support operations and focus more of our time and energy on serving customers.
LPL will report its second quarter earnings on July 30.
