Financial Advisory

LPL Financial has added a trio of financial advisors, managing roughly $170 million in advisory, brokerage, and retirement plan assets, to its broker-dealer and registered investment advisor platform.  Ann Arbor, MI-based Lakewood Wealth Management, which includes advisors Harrison Kennard, Charles Dobben, and Justin Pandy, were previously affiliated with broker-dealer Cambridge Investment Research. Lakewood Wealth Management …

Verdence Capital Advisors has acquired Harvest Investment Consultants, adding $564 million in assets under management as the private wealth and multifamily-office firm accelerates its expansion through mergers and acquisitions. Founded in 1987, Harvest provides portfolio management and financial planning to individuals and families. The Hunt Valley, Maryland-based firm’s entire team will join Verdence, including managing …

Registered investment advisor Concurrent Investment Advisors has added a Virginia-based wealth management firm, which manages $5.4 billion in total client assets, marking the firm’s addition to its RIA platform.  McLean, VA-based Spire Investment Partners, founded in 1997, offers customized solutions tailored to each advisor’s level of ownership and responsibility. The Hybrid RIA also offers support …

Waverly Advisors has purchased a Virginia-based wealth management firm, bolstering the firm’s footprint in the state.  Richmond, VA-based Heartwood Wealth Advisors, founded in 2013, oversees about $1.7 billion in assets under management and is led by advisors Steve Clarke, Sid Martin, Ben Gurley, and Wes Kaufman.  The team is supported by nine other back-office team …

Regional banks should treat wealth management as a central driver of shareholder value rather than a supplemental cross-selling business, according to a new report from Wealth Access and Alvarez & Marsal. The study examined 106 publicly traded, traditional U.S. regional banks with less than $200 billion in deposits. It found that banks generating more than …

NorthRock Partners has purchased Wisconsin-based Triumph Wealth Management, which oversees $350 million in assets under management.  Triumph Wealth Management, founded in 2007 by CEO and president Nathan Brinkman, offers financial planning, investment management, tax solutions, estate planning and retirement planning.  Triumph Wealth Management has joined NorthRock’s Personal Office model, which provides investment strategies, insurance, legal, …