Advisory M&A News – 6/3/24

Citizens Adds Boston-Based Advisor Team

Citizens Financial Group Inc. announced that Citizens Bank is welcoming another wealth team in its continuing strategy to accelerate its capabilities in key markets across the U.S.

The team is led by Brian Nagle, managing director at Citizens Private Wealth, who brings more than three decades of experience in wealth management, and previously managed nearly $1 billion in client assets.

Nagle and his team specialize in design and management of equity and balanced portfolios for ultra-high-net-worth clients, trusts, endowments and foundations. Nagle has been named by Forbes as one of their “Best-In-State Wealth Advisors” since 2020.

“We are excited to add another nationally recognized wealth team to our growing Citizens Private Wealth portfolio, serving Boston’s ultra-high-net-worth clients,” Tom Metzger, senior vice president of private wealth management at Citizens, said in a statement.

Citizens Private Wealth offers clients and their families financial planning, investment management, deposits and lending, estate and trust planning, insurance and asset protection and tax planning and preparation. They work closely with Citizens Private Bank ultra-high-net-worth individuals, families and businesses.

SLK Private Wealth Welcomes Team With Over $300 Million in Client Assets

SLK Private Wealth, a Sanctuary Wealth partner firm, announced that Los Angeles-based advisers Adam Weinstock and Eleanor Weinstock are becoming part of SLK Private Wealth.

The team from Wells Fargo Advisors has a client base totaling more than $300 million in total assets focused on athletes, entertainers, entrepreneurs and corporate executives.  Adam Weinstock will become a managing partner of SLK, and Eleanor Weinstock will become a managing director.

SLK was founded by Managing Partners Glen Strauss, Jonathan Lewis and EJ Kahn, and includes Chief Investment Officer Razmig Der-Tavitian, Partner and Portfolio Manager Hank Krakover, and a seven-person support team. SLK’s founders left Wells Fargo in 2022 to establish ownership of their $1.6 billion independent business within Sanctuary’s network. 

“Adam and Eleanor run a sophisticated, high-touch advisory business that will fit perfectly with SLK’s culture and approach,” Strauss said in a statement. “Adam will take on a leadership role at SLK, bringing on new clients, continuing to build the practice and ensuring seamless client service for decades to come.”

5 Business Lines of Connectus Wealth Advisers Join The Colony Group

Focus Financial Partners Inc., a partnership of fiduciary wealth management and related financial services firms, announced that five U.S.-based business lines within partner firm Connectus Wealth Advisers have formally joined Focus firm The Colony Group LLC.

The business lines joining Colony are Atlas Private Wealth Management, Connectus Private, Hunt Valley Wealth, Mid-Continent Capital and NEIRG Wealth Management. Through this transaction, the Connectus advisers and clients joining Colony will gain access to Colony’s open-architecture investment platform, in-house tax planning, family office and other services.

This transaction adds senior-level talent to Colony and will strengthen its footprint in key markets, including Chicago, greater Baltimore and South Florida, according to Focus.

“We are excited to welcome these experienced and talented teams to Colony,” Zinovy Iosovich, president and chief services officer of Colony, said in a statement. “Each brings a unique offering and core competency, and we are committed to providing the advisory teams additional depth and broader capabilities to better serve their clients.”