Advisory M&A News – 7/1/24

NewEdge Advisors Welcomes Fortis Wealth Advisors

NewEdge Advisors LLC, a New Orleans-based registered investment adviser, announced that Fortis Wealth Advisors, a recently created, Dallas-based team overseeing approximately $580 million in client assets, has joined the firm.

“We are proud to welcome Fortis Wealth Advisors to the NewEdge Advisors family,” said Neil Turner, co-CEO and co-Founder of NewEdge Advisors, in a statement. “This team is passionate about their work and greatly values the advisor-client relationship.”

Erik Linstrom, Ben Roth, Shawn Stanley and Kris Cawthon, who founded Fortis Wealth Advisors shortly after departing J.P. Morgan Securities, chose Goldman Sachs Custody Solutions as their primary custodian.

“We were drawn to NewEdge Advisors’ robust portfolio management solutions, which drive significant time and cost efficiencies,” said Cawthon, the Fortis director of operations, in a statement. “Choosing Goldman Sachs Custody Solutions to safeguard our clients’ assets was not a choice we made lightly, and we are excited to offer their solutions and insights to our clients.”

4 Wealth Managers Join Savvy Advisors

Savvy Advisors Inc., an RIA affiliated with Savvy Wealth Inc., announced that four wealth managers have joined the firm:

• Adam Dean: Based in Sioux City, Iowa, Dean offers customized wealth management to diverse clientele, including athletes, physicians, university professors and small business owners. He previously worked at Morgan Stanley and Baird, specializing in financial planning, investment management, retirement strategies, estate planning and tax optimization;
• Nate Kunkel: Located in Cincinnati, Kunkel has nearly a decade of experience and previously managed more than $300 million in assets at Mariner Wealth Advisors. He primarily serves Procter & Gamble employees, focusing on investment management, financial planning and retirement planning;
• Brian Mills: Operating in Los Angeles, Mills provides tailored wealth planning and portfolio management to ultra-high-net-worth clients. With experience from Lincoln Financial and Lido Advisors, he focuses on legacy protection and asset growth; and
• Albert Pinedo: Based in St. Petersburg, Florida, Pinedo specializes in equity analysis, portfolio management and financial planning for high-net-worth business owners and executives in tech and finance. With more than 20 years of experience, he offers expertise in tax optimization, charitable giving, estate planning and wealth transfers.

Perigon Wealth Management Acquires Creative Financial Planning

Perigon Wealth Management LLC, an independent wealth management firm with approximately $7.75 billion in client assets as of March 31, announced the acquisition of Creative Financial Planning Inc. of New York, a firm with approximately $150 million in assets under management.

Creative Financial Planning’s founder and CEO, Lisa Hayes, and chief operating officer, Daniel Gwizdak, will become wealth managers and partners at Perigon. Creative Financial Planning had been affiliated with Commonwealth Financial Network.

Hayes began her financial services career after researching how to invest profits from her Hamptons-based cleaning service. She started at an estate planning company and then launched Creative Financial Planning in 1985 to help families and business owners like herself manage their wealth. Gwizdak served as an intern with the firm, joining full-time in 2007 and becoming the chief operating officer in 2016.

“Together, Lisa and Daniel built an incredible relationship-driven practice that focuses on the needs of their community,” said Perigon CEO Art Ambarik in a statement. “Their incredible story, decades of service and passion, dedication and knowledge of the wealth management industry are the perfect complement to Perigon’s culture.”

Snowden Lane Partners Adds Yarza Group

Snowden Capital Advisors LLC, also known as Snowden Lane Partners, an independent wealth advisory firm, announced that Jaime Sánchez Yarza has joined the firm as a senior partner and managing director.

Yarza is joined by José Andrés Ramírez, portfolio director and senior client relationship manager, and Paula Andrea Gonzales, group director and senior client relationship manager. Based in Snowden Lane’s Coral Gables, Florida, office, they will form the Yarza Group, with $1 billion in total client assets.

The addition brings Snowden Lane’s total client assets to $13 billion, building upon 2023 growth that included the addition of 12 advisers representing more than $2 billion in assets.

“We’re thrilled to officially welcome Jaime, Jose, and Paula to our Coral Gables team,” said Greg Franks, managing partner, president and chief operating officer of Snowden Lane Partners, in a statement. “Jaime has had a truly illustrious career, and we’re humbled that the Yarza Group selected Snowden Lane as its next destination.”