Recruitment Roundup: Integrated, LaSalle, Perigon, Freestone And More

Chris Latham, Managing Editor, Wealth Solutions Report

Commonwealth, LaSalle St. And Savvy Recruit Advisors. Creative Planning And Perigon Conduct Acquisitions. Integrated Partners And Windes Launch Ovisto. Modern Wealth Hires Chief Compliance & Legal Officer. Freestone Hires Managing Director Of Wealth Strategy And Estate Planning.

This edition of the Weekly Recruitment Roundup features Commonwealth Financial Network recruiting Mammini Company, LaSalle St. recruiting Horwitz & Associates, Savvy Advisors recruiting John Khoury from Charles Schwab & Co., Creative Planning acquiring Daniels + Tansey, Perigon Wealth Management acquiring Wealth Advisors Inc., Integrated Partners and Windes launching Ovisto Wealth Management, Modern Wealth Management hiring J.P. Rankin as Chief Compliance & Legal Officer and Freestone Capital Management hiring Lizzie Hollis as Managing Director, Wealth Strategy and Estate Planning.

Advisor Transactions

1. Commonwealth Recruits $3 Billion Mammini Company From Lincoln

Mike Mammini, President, Mammini Company

Commonwealth Financial Network announced the recruitment of San Diego, California-based Mammini Company, formerly with Lincoln Investments. With almost $3 billion in client assets, the firm’s eight staff members include four advisors. It is led by owner and President Mike Mammini. His son Mitch Mammini also serves as an advisor.

A large portion of the Mammini Company’s clients are labor unions and corporate retirement plans. Mammini plans for strategic expansion leveraging Commonwealth’s toolkit. The firm looks to expand its footprint in both trust funds and retirement plans, as well as promote personalized financial wellness programs for employees.

“The foundation of our defined contribution retirement plan practice stems from my father’s leadership in the Sheet Metal Workers’ Union and has forged our roll-up-your-sleeves approach to designing sustainable retirement plans for working-class families,” Mike Mammini said. “We see big value in Commonwealth’s institutional knowledge, the full Investment Research team and the accessible support of being eight miles away from the San Diego home office.”

2. LaSalle St. Takes Chicago-Area Horwitz & Associates From Atria

Mark Contey, CMO, LaSalle St.

LaSalle St. announced that Horwitz & Associates joined its network. Based in Deerfield, Illinois, Horwitz is located in close proximity to LaSalle, which is also based in the Chicago area. Previously an OSJ with Atria’s Western International, Horwitz has $550 million in client assets. It will continue to operate its RIA.

Gerald Horwitz founded the firm in 1970, which serves business owners, retirees and pre-retirees with asset and wealth management as well as financial and retirement planning. Beyond Illinois, its 13-person team has offices in Ohio, Louisiana, Arizona and Florida.

“Horwitz & Associates leverages multi-generational experience, and deep family connections and is a perfect fit for our network,” said Mark Contey, LaSalle’s CMO. “The firm’s team has built a sustainable, scalable business with close client relationships, and we are thrilled to have the opportunity to support their current business as well as their going forward expansion.”

3. Savvy Recruits $1 Billion Wealth Manager John Khoury From Schwab

John Khoury, Principal Wealth Manager, Savvy Advisors

Savvy Advisors, an RIA affiliated with the digital-first platform Savvy Wealth, recruited John Khoury as a Principal Wealth Manager. He previously worked at Charles Schwab & Co. for 15 years as a Vice President and Senior Financial Consultant. Khoury oversaw more than $1 billion in brokerage assets, with $325 million in advisory assets under management (AUM), for more than 350 clients.

Prior to Schwab, he served for over seven years at Fidelity Investments, first as a Retirement Consultant and then as a Senior Financial Consultant. Savvy Advisors also recently hired Marisa (Maya) Joelson as a Founding Principal Wealth Manager and Global Investment Strategist. She has two decades of financial services experience, and previously was an advisor at Perigon Wealth Management and Merrill Lynch.

“For the entirety of my career, I have been committed to acting as a true fiduciary and doing what’s right for my clients. That’s why I decided to join Savvy’s growing team as they develop a modern, all-in-one RIA,” Khoury said. “Savvy Wealth’s digital platform is efficient, scalable and allows me to concentrate more on client relationships.”

Mergers & Acquisitions

4. Creative Planning Acquires Delaware-Based Daniels + Tansey

Peter Mallouk, CEO, Creative Planning

Overland Park, Kansas-based Creative Planning acquired Wilmington, Delaware-based Daniels + Tansey, which had approximately $535 million in AUM as of its March SEC ADV filing. Daniels + Tansey provides integrated financial advisory, tax and investment management services. It was founded by Kit and DeVon Daniels.

Creative Planning’s combined AUM exceeded $245 billion as of July 1. The firm is active in all 50 states and in 65 countries. In November, Creative Planning acquired Mesirow’s corporate retirement advisory services team, which as of July 1 served more than 350 retirement plans representing approximately $13 billion in total client assets.

“We are delighted to extend a warm welcome to the accomplished team at Daniels + Tansey as they become part of the Creative Planning family,” said Peter Mallouk, CEO of Creative Planning. “Their team of industry experts is dedicated to delivering comprehensive wealth solutions with a personal touch, a philosophy that aligns seamlessly with Creative Planning’s values.”

5. Perigon Acquires $275 Million Wealth Advisors Inc. In Nevada

Arthur Ambarik, CEO, Perigon

San Francisco-based Perigon Wealth Management acquired Wealth Advisors Inc. The Henderson, Nevada-based RIA has an office in San Diego County, California, and manages over $275 million in AUM. Wealth Advisors Founder and President Paul Drolson becomes a Partner at Perigon, bringing his team of four advisors and support staff.

Drolson founded his firm in 2003 to serve high net worth individuals, families and small businesses. Perigon had approximately $5.6 billion in client assets as of June 30. In July, Perigon appointed Rafia Hasan as CIO to support its growth strategy, enhance its investment strategy, strengthen the investment team and support its advisors across affiliation models. Prior to Perigon, she spent eight years at Wipfli Financial Advisors.

“Over the past several years, we have been able to attract incredible advisors to the Perigon team by offering a range of affiliation models and the flexibility top advisory professionals demand,” said Perigon CEO Arthur Ambarik. “Paul and his team exemplify the kind of professionals who can thrive as a part of the Perigon Wealth family, and we look forward to ensuring they are well-positioned to deliver the highest level of service their clients demand.”

Strategic Partnerships

6. Integrated Partners And Windes Launch Ovisto Wealth Management

Paul Saganey, President and Founder, Integrated Partners

Waltham, Massachusetts-based RIA Integrated Partners and Long Beach, California-based accounting and advisory firm Windes launched Ovisto Wealth Management. The new partnership provides retirement planning, investment management, estate and legacy planning, risk management and business owner planning, facilitated by Integrated Partners’ front- and back-office support services.

Mark Mitamura, Lead Advisor at Ovisto, will be responsible for managing its team, which will collaborate with Windes tax and accounting specialists. Windes serves growth-oriented small and midsize privately held companies, nonprofit organizations and high net worth individuals.  Integrated Partners has over $12.7 billion in advisory assets, more than 200 advisors, more than 170 CPAs and 116 regional offices nationwide.

“The partnership will enable Ovisto’s clients, who often have sophisticated and unique financial needs, to access highly skilled technical experts in advanced planning,” said Paul Saganey, President and Founder of Integrated Partners. “These experts are adept at addressing and bridging the coordination gaps commonly encountered when managing complex financial situations.”

Promotions & People Moves

J.P. Rankin, Chief Compliance & Legal Officer, Modern Wealth Management

Modern Wealth Management hired J.P. Rankin as its Chief Compliance & Legal Officer, based in the Lenexa, Kansas, office. He previously was Chief Compliance Officer at CreativeOne Wealth, Regulatory Counsel at Advisors Excel and an attorney for the Office of the Kansas Securities Commissioner.

Modern Wealth launched in April with $200 million in equity financing and since has conducted five acquisitions – Martin James Investment & Tax Management, Midwest Financial, Barber Financial Group, Osiwala Financial Group and Financial Security. The firm has over $1.5 billion in AUM as of its November ADV SEC filing.

“What ultimately drew me to Modern Wealth was the vast leadership and industry experience Jason Gordo, Mike Capelle and Gary Roth bring to the business, as well as the firm’s scalable and efficient operations,” Rankin said. “The firm has already experienced rapid growth since its founding, and I’m looking forward to augmenting Modern Wealth’s existing compliance procedures to ensure our advisors’ and clients’ best interests are put first as we continue to scale.”

8. Freestone Hires Managing Director Of Wealth Strategy And Estate Planning

Lizzie Hollis, Managing Director, Wealth Strategy and Estate Planning, Freestone

Seattle-based Freestone Capital Management hired Lizzie Hollis as Managing Director, Wealth Strategy and Estate Planning, operating out of its San Francisco office. She will report to Christine Opp, Managing Director, Client Advisor and Head of Financial Planning at Freestone, and work to advance the firm’s strategic vision.

Hollis has over 10 years of trust and estate planning experience. She previously practiced law at Delagnes, Linder & Duey and earlier in her career was an associate at the law firms Donahue Fitzgerald and Poyner & Poyner. Freestone, which was founded in 1999, is an employee-owned, fee-only firm with over $8 billion in AUM. It also has California offices in Silicon Valley and Santa Barbara, and an office in Anchorage, Alaska.

“It became very clear to me during the course of my conversations with Freestone that their service offering is incredibly powerful, and that they are truly looking to invest in wealth strategy and financial planning,” Hollis said. “I cannot wait to get to know my new colleagues, and to ensure that our clients have carefully considered all possible strategies to protect and grow their wealth.”

Chris Latham, Managing Editor at Wealth Solutions Report, can be reached at clatham@wealthsolutionsreport.com

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