New Moves Section Sponsored by:  

New Moves


If there’s a new hire or internal promotion that your firm wants to announce on RIABiz, click on the button below to add a submission.

Mike Cagnina: [Muench] understands the industry and the driving forces behind the growing trend of plan sponsors’ shift toward a discretionary investment management model.

SEI goes hard after 401(k) plan sponsors by poaching a star from Northern Trust and bundling him up, but he'll be swimming against market trends

The Oaks, Pa.-based TAMP poached Scott Muench from the $10.7 trillion asset-manager and custodian, ending a nationwide search -- and Muench's 19-year streak at the Chicago-based giant

September 21, 2018 — 11:27 PM UTC by Oisin Breen

Brooke's Note: In the great convergence of institutional and retail,  SEI has long had a solid foothold in both camps, amid the muddle of plan sponsors buying investment counsel in a post-DOL era. See: AssetMark records 'off the charts' year and SEI is ...

Tony Barchetto: Ryan will play a critical role … [and] the strategies currently in the pipeline will enable advisors to get more exposure to the market using less cash.

Founded in 2017 to produce ultra-beta ETFs, Salt Financial goes full 'meritocratic' in poaching 27 year-old Dow Jones beta hunter -- seriously, beta hunter -- to lead research for volatility tracking ETF roll out

The juiced-return index products designer installs Ryan Poirier, a prodigy Dow Jones researcher as director

September 14, 2018 — 8:34 PM UTC by Oisin Breen

Brooke's Note: So much talk of trusting millennials to take critical roles and so little evidence that it happens -- at least in the advisor business. Here's a good exception where Salt Financial is putting Ryan Poirier in charge of a newfangled product that requires ...

Chris Dupuy: Ex-Focus Financial Exec heading for Rockefeller Capital.

Rockefeller Capital hires Chris Dupuy from Focus Finacial

But can Dupuy help his new boss shake up Rockefeller Capital Management's brand and convince 21st century tech magnates and next-generation middling millionaires to rub shoulders with a Rockefeller brand still best associated with a 19th century robber baron?

September 14, 2018 — 9:12 AM UTC by Keith Girard

Brooke's Note: We earlier wrote about the departure of Chris Dupuy and his unlikely move to sports blogging. Two of our deep Wall Street sources stepped in to let us know that the blogging is a very much a placeholder and his move is more dramatic ...

Richard Steinmeier: LPL has reached a point in its journey where it can begin to engage differently with prospective clients from all market segments.

LPL replaces the great Bill Morrissey with UBS' digital whiz

Rick Steinmeier's hire is timely for LPL CEO Dan Arnold as the post-Mark Cassady game has changed.

September 14, 2018 — 9:03 AM UTC by Brooke Southall

Brooke's Note: Bill Morrissey was that last guy from the era of Bill Dwyer, Derek Bruton and Mark Casady. He was a bread-and-butter executive who did what LPL had to do to get to where it is atop the broker-dealer heap -- sell like crazy ...

Derek Bruton: There's a lot on our plate in terms of overall growth.

Two ex-LPL talents join Derek Bruton and Keith Gregg's Chalice start-up

After just three months in-situ as the president of Chalice Wealth Partners, the ex-LPL RIA overseer gets Christopher Giles as chief information officer and Stephanie Holly as chief financial officer.

September 13, 2018 — 2:46 PM UTC by Oisin Breen

Brooke's Note: One of the many interesting aspects of this Chalice startup is that its RIA and broker-dealer's first president, Derek Bruton, is not a co-founder of the firm. Yet, he is far better known in RIA circles than the owners. It hasn't taken him ...

Allison Felix proved herself the old-fashioned way to create a very modern result.

A $2.7 billion RIA makes Allison Felix, 40, its president, after she started as an executive assistant out of college.

Allison Felix' rise to prominence was backed, in part, by CEO Steve Cassaday who paid for half of her MBA and sold her a minority stake

September 13, 2018 — 2:32 PM UTC by Brooke Southall

Brooke's Note: Back when RIABiz got started, we put a big emphasis on debriefing breakaway brokers who became RIAs. There are lots of good stories but none is better than Steve Cassaday's. See: A breakaway story, old-school style Since his "old-school" breakaway ...

Elliot Weissbluth: [Hightower] is actively engaging with a variety of opportunities.

HighTower gets a new CEO, to be revealed later, as Elliot Weissbluth moves upstairs

Elliot Weissbluth's move upstairs ends an era, as Thomas H. Lee's reign begins in earnest, and Mark Cabezas comes in as M&A head.

September 13, 2018 — 2:21 PM UTC by Oisin Breen

Brooke's Note: Private equity can be expected to put square pegs into square holes. Elliot Weissbluth is a charismatic leader and dealmaker. He struggled more as day-to-day CEO, especially after he lost his president a year ago. See: Elliot Weissbluth's second in ...

Trap Kloman is no tyrant.

Trap Kloman gets nod as president at Commonwealth

Since being poached in 2015, Trap Kloman quickly earned Wayne Bloom's trust and current president, Rich Hunter, is ready to step back.

September 11, 2018 — 12:00 AM UTC by Brooke Southall

Brooke's Note: If there is a such thing as a no-drama broker-dealer, Commonwealth might be it. This hire seems to reflect a determination to stay that way.

Trap Kloman will become the new president and chief operating officer at Commonwealth Financial Network in 2019 ...

Donna Wells: I consider myself a hacker, even, if not an engineer.

Betterment hires an engineer to its board but yes she can market ice cubes to penguins

No longer the disruptive New York upstart, the $14 billion AUM robo is outgunned by institutional heavy-hitters -- a dynamic Donna Wells knows

September 11, 2018 — 12:00 AM UTC by Oisin Breen

Brooke's Note: The robo naysayers have long made one very boring point about the very exciting prospect of creating from scratch a better, cheaper, fairer and more inclusive financial advice business. Namely, the analysts have pointed to the immutable client acquisition costs they see ...

Jodi Perry made the leap from sales to near c-suite in a matter of weeks.

Raymond James appoints new head of independent advisors

The former Southeast director is now in the position vacated by Scott Curtis as he ascends the ladder -- and oversees Perry

September 11, 2018 — 12:00 AM UTC by Brooke Southall

In the HR equivalent of a blink of an eye, Jodi Perry has become the highest ranking executive overseeing independent advisors at Raymond James. She scaled two executive levels in barely two months and will now serve as president of RJFS-Independent Contractor Division, a newly created position ...

Jeff Raupp: Whenever you say we're going to make some changes, it creates a little bit of uncertainty, but I feel like we were fortunate ... we were able to dig in and quickly address what we felt needed changing.

Brinker hires a CIO after making do without one

After the hasty exit of Bill Miller in 2016, the $22B TAMP incubated Jeff Raupp as chief investment officer instead of seeking a ringer.

September 11, 2018 — 12:00 AM UTC by Oisin Breen

Brooke's Note: The whole idea behind a TAMP is to take an IBD rep and effectively convert them to an RIA by having their portfolios outsourced to a fee-based manager. But Brinker Capital is converting from that classic model to one where it becomes ...

Peggy Kahn

Two transplanted San Diegans -- one a little bit country, the other rock 'n' roll -- join Dowling & Yahnke

June 7, 2018 — 5:02 PM UTC by Dina Hampton

Dowling & Yahnke LLC welcomed financial planners Peggy Kahn and Kelly Feldmann to its San Diego office in March.   Reporting to director of financial planning Tracy Burgett, Kahn and Feldmann will design customized personal financial plans for clients, including financial goals analysis, estate planning, education planning, tax ...

1 Comment