Advisors on the Move: Billion-Dollar UBS Team Joins Focus
January 29, 2014
A UBS team of 17 advisors with one billion dollars under management has left the Swiss bank to form IFM Capital Advisors, an independent RIA.
Founding partners Timothy Kneen and Clayton Hartman are launching their Colorado-based venture with the assistance of Focus Financial's Focus Connections program, which helps wirehouse advisor teams transition their business. IFM will become a partner firm of Focus Financial, which is providing access to capital and other resources to assist with IFM’s launch, according to a Focus spokeswoman.
Kneen and Hartman are veteran advisors, and have worked together for more than two decades. Hartman has 33 years of experience in the industry, and has served on the board of directors for Fort Collins United Way and the Fort Collins Cancer Society. Kneen has worked in the industry for 25 years; he also has experience starting new companies, having launched five businesses of his own.
Joining Hartman and Kneen in launching IFM’s three offices are team members Rick Basford, Alan Beugg, Daniel Gamache, Jeffrey Gordon, Wayne Jamerson, Brian Sullivan, and Jennifer Thompson. Kneen will run the Denver office and Hartman will lead the Fort Collins, Co. office. Tom Dempster, a former South Dakota state senator and UBS employee, will head IFM's Sioux Falls office.
Image: Timothy Kneen and Clayton Hartman
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January 17, 2014
Janney Montgomery Scott adds advisor duo from UBS to its Washington, D.C., office.
Norman Oremland, senior vice president, worked at Legg Mason and Citi Smith Barney from 1987 to 2007. He also worked at Merrill Lynch from 1973 to 1977. He is a graduate of the University of Maryland and holds an MBA in finance.
Steven W. Goldfarb, assistant vice president, worked for seven years at UBS and six years at Legg Mason and Citi Smith Barney. Goldfarb is a graduate of Arizona State University.
Image: Norman Oremland and Steven W. Goldfarb
January 22, 2014
Benjamin Edwards opened a new office in Corning, N.Y. and added eight advisors in four locations, pulling talent from RBC Wealth Management and Wells Fargo Advisors.
The Davies Investment Group, previously with RBC Wealth Management, is forming Edwards’ new office in Corning, N.Y. The group is comprised of David W. Davies, managing director, Jill C. Miller and Kristen A. Ketchum.
Joan Levy Monder is joining Edwards’ office in White Plains, N.Y. as a financial consultant. Monder previously worked for Wells Fargo Advisors.
Tom Bedor, CFP, and Lauren Bedor, father and daughter, are also moving to Edwards from Wells Fargo. The Bedors are joining the firm’s office in Melbourne, Fla., where Tom Bedor will become a branch manager and senior vice president and Lauren Bedor will be a financial consultant.
The company is also adding two more former-Wells Fargo advisors, Mark Barczuk and David Moreno, to its Denver office. Moreno will be senior vice president, and began his career as a trader in 1987.
Image: Jill C. Miller, David W. Davies and Kristen A. Ketchum
January 22, 2014
UBS has added six new Morgan Stanley advisors, with total assets under management of $500 million, to its office in Atlanta.
The new advisors will form a team called the Apex Group. The group includes Adam Thomas, executive director and senior portfolio management director, who was a financial advisor with Morgan Stanley for 14 years. He is a graduate of Nyack College.
Apex team-member Michael Hennessy has been a financial advisor with Morgan Stanley since 2006. Hennessy, executive director and senior portfolio management director, is a graduate of Georgia State University.
Araya Mesfin, vice president and portfolio management director, is a graduate of Berry College and a member of the Atlanta Association of Corporate Growth.
Also joining UBS is Brandon Brown, Jansen T. Bailey and Julie Axley Bailey. Brown, second vice president and senior portfolio manager is a graduate of Auburn University. Jansen Bailey, chartered retirement planning counselor, has been in the industry for almost a decade and is a graduate of Clemson University. Julie Bailey has been an advisor for 13 years and is a graduate of East Tennessee State University.
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Image: Adam Thomas, Michael Hennessy, Araya Mesfin, Brandon Brown, Jansen T. Bailey, Julie Axley Bailey, Lynn Pattison, Jeannine Brookman, Elle Pineda, Louise McMahon
January 22, 2014
RBC Wealth Management has added a UBS advisor with $115 million in assets under management. Kelly Kerr, who has more than 14 years of experience in the industry, is joining RBC’s San Antonio office, effective January 10.
Kerr specializes in helping business owners with succession planning and investment management. He has been an officer in his local chapter of the Knights of Columbus and is also a board member for the Lone Star Chapter of the Alzheimer’s Association.
Joining him at the San Antonio office is Audra Kerr, an investment associate with seven years of experience in the industry.
January 27, 2014
Baird has promoted Jarrett Kovics to regional director for Texas, Arizona, Oregon and California. Kovics joined Baird in 2010 as branch manager of the company’s Dallas office, and later became director for the Texas market.
His promotion comes during a period of expansion for Baird. Michael Schroeder, president of Baird’s private wealth management group, said the company has added more than 300 advisors and opened 23 offices in the past five years.
“Jarrett’s experience and proven leadership skills make him a natural fit for this role, and his promotion helps position our firm in a way to support future growth,” Schroeder said in a statement.
Kovics began his career at Morgan Stanley. He has a bachelor’s degree from Lafayette College in Pennsylvania.
Image: Jarrett Kovics
January 29, 2014
A group of veteran advisors has moved from Ameriprise to Janney Montgomery Scott, joining the company at its Columbia, S.C., office.
The four-member Giffith Chapman group includes Jack Griffith Jr., Jack Griffith, III, John Chapman and Linda Pittman.
Jack Griffith Jr., first vice president, has 30 years of experience in the industry, having held advisory and management positions at H&R Block Financial and Merrill Lynch. He is a graduate of the College of Charleston.
Jack Griffith, III, assistant vice president, joined Ameriprise in 2008. He is a graduate of Mississippi College.
Financial advisor John Chapman has worked in the financial services industry for 18 years, and holds a degree from the University of Central Florida. Linda Pittman, private client assistant, has almost three decades of experience and is a licensed notary.
Image: Jack Griffith Jr., Jack Griffith, III, John Chapman and Linda Pittman
January 31, 2014
RBC Wealth Management recruited two former Merrill Lynch advisors with $260 million in client assets under management to its Washington, D.C., office.
Katie Clark, senior vice president, has worked in the financial services industry for three decades and has $150 million in assets under management and $1.2 million in total production. Melanie Folstad, senior vice president, has five years of experience, managed $110 million in client assets and had $700,000 in production.
Katie and Melanie are talented financial advisors with strong industry knowledge, who always put the needs of their clients first. Our Washington, D.C., complex already has three times the industry average of female financial advisors, so we are thrilled to add more females who fit in with our firm’s unique culture,” said Warren Bischoff, complex director, in a statement.
There's been a lot of movement at UBS over the previous weeks, with six advisors joining the Swiss bank while others have gone independent.