Latest news with #DeAnneSteele
Yahoo
3 days ago
- Business
- Yahoo
Cetera pulls team from LPL: Advisor Moves
LPL Financial lost a $380 million AUA team to Cetera, while two RIA aggregators — Arax Investment Partners and Aspen Standard Wealth — each brought on teams managing $1 billion. Meanwhile, UBS appointed two new market directors in Southern California. Read about those and other notable industry deals and moves below. UBS names two new market directors UBS Global Wealth Management announced two new market directors in the San Diego area to support the wirehouse's Southern California Steele, formerly an executive director with Merrill Lynch, will lead the Carmel Valley and Rancho Bernardo offices. George Towers III, previously UBS' associate market executive for the Pacific desert market, will head the La Jolla and downtown San Diego offices. Steele joined Merrill Lynch in 2019 after five years at Bank of America Private Bank, holding business development roles. Towers entered the industry in 2021 with UBS. First Manhattan buys RIA with $350M in AUM Investment advisory firm First Manhattan has acquired a Jersey-based RIA. Founded by Edwin Vroom in Jersey City, New Jersey in 1978, Roanoke Asset Management manages portfolios for affluent clients and employee benefits for Fortune 100 companies and brings to First Manhattan $350 million in assets under will serve as senior managing director and portfolio manager, as will Adele Weisman, who joined Roanoke in 1981, according to LinkedIn. Sanctuary Wealth partner firm adds Texas RIA with $400M in assets The Sanctuary Wealth network is expanding through an addition to partner firm mFORCE launched Fossil Rock Private Wealth, a Fort Worth, Texas RIA with $400 million in total client assets, will join mFORCE Capital under the leadership of former Merrill Lynch wealth advisor Larry Milton, who will be recognized as the co-founder. This will bring mFORCE Capital's $1.9 billion in total client assets to $2.3 billion. Milton brings 37 years of experience, having worked across his career at firms including Lehman Brothers, UBS PaineWebber, Raymond James, Merrill Lynch and Truist. Ameriprise nabs $780M investment program from Osaic The Sparta, Michigan based ChoiceOne Bank has chosen to partner with Ameriprise to manage $780 million in assets, having previously worked with Osaic. Operating now as ChoiceOne Wealth Management, the advisory practice includes 10 advisors and two support staff."ChoiceOne has a strong legacy of serving communities with excellence across the state of Michigan, and we're proud to partner with them to deliver an exceptional wealth management experience backed by industry-leading capabilities," Ameriprise Financial Institutions Group Vice President Jay McAnelly said in a statement, but did not disclose the names of the advisors. Arax Investment Partners acquires $1B team Arax Investment Partners, a New York-based wealth management firm backed by private equity outfit RedBird Capital Partners, is expanding its footprint in the Midwest. Summit Wealth Strategies of Chesterfield, Missouri will join Arax, bringing $1 billion in client assets under management. Founded in 2016, Summit operates across two states with 11 offices under the leadership of managing partners Michael Ott, Brent Spicuzza and Pete Donovan. Ott holds 19 years of experience in the industry; Spicuzza, 25 years, and Donovan, 20 years. All three left AXA Advisors and formed Summit. According to BrokerCheck, Spicuzza resigned in late 2015 and later paid a $15,000 fine related to outside business activity; in early 2016, both Donovan and Ott paid $1,000 fines related to OBA. Aspen Standard Wealth acquires RIA with $1.1B in AUM New York City-based RIA aggregator Aspen Standard Wealth has acquired another firm on the East Financial was founded in 1996 outside Boston by CEO and CIO Mary Gilligan and has $1.1 billion in assets under marks Aspen Standard Wealth's fourth acquisition since the private equity-backed firm was founded in 2024 by Aly Kassim-Lakha. Cetera pulls a $380M AUA team from LPL A financial advising team from LPL Financial is jumping to Cetera for its "culture of white-glove service."Under the leadership of founder Susan Wilkinson, the 12-person Wilkinson Wealth Management team based in Charlottesville, Virginia will join Cetera's advisor channel as part of Summit Financial Networks. The team previously affiliated with LPL as part of Private Advisor Group and has approximately $380 million in assets under holds 29 years of experience, beginning her career in the industry in 1996 at Morgan Stanley DW. She then worked at Citigroup between 2001 and 2008 before joining LPL, where she worked for 17 years. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
7 days ago
- Business
- Globe and Mail
UBS Appoints Deanne Steele and George Towers III as Market Directors in San Diego Region
UBS Global Wealth Management US has appointed two new Market Directors in the San Diego region, reflecting UBS's continued investment in leadership, client relationships, and advisor growth in the Southern California market. This press release features multimedia. View the full release here: UBS Global Wealth Management US has appointed two new Market Directors in the San Diego region, reflecting its continued investment in leadership, client relationships, and advisor growth in Southern California. DeAnne Steele will lead the Carmel Valley and Rancho Bernardo offices, and George Towers III will lead the La Jolla and Downtown San Diego offices. DeAnne Steele will lead the Carmel Valley and Rancho Bernardo offices, and George Towers III will lead the La Jolla and Downtown San Diego offices. 'With extensive financial industry experience, both DeAnne and George bring leadership, vision, and client-centric strategies to their new roles,' said Justin Frame, Pacific Desert Market Head at UBS. 'I am confident that they will further enhance our capabilities and engagement across the San Diego region.' DeAnne is a seasoned financial executive with a career spanning brokerage, fiduciary, and private banking platforms. She most recently led financial advisors across multiple offices for Merrill Lynch in Texas and California. Prior to that, she held various strategy-focused roles at Bank of America Private Bank. DeAnne holds an MBA in Finance from UCLA Anderson and dual undergraduate degrees in English and Political Science from UCLA. She also holds the Chartered Financial Analyst® (CFA®) and Chartered Alternative Investment Analyst (CAIA) designations. George steps into his role as Market Director after serving as Associate Market Executive for the Pacific Desert Market at UBS. His career trajectory began in ministry before he transitioned to wealth management, applying his people-first approach to financial planning at UBS. George earned his degree in Finance and Economics from the University of Denver and holds the Accredited Wealth Management Advisor (AWMA) designation. Notes to Editors: Bios available upon request About UBS UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 6.1 trillion dollars of invested assets as per fourth quarter 2024. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
