In this week’s roundup, Waverly Advisors’ parent company acquired Smithfield Trust Company; NewEdge Wealth added James Nichols in Nashville; Raymond James recruited advisor teams in Virginia and Utah; LPL Financial added Spectrum Wealth Strategies and Daniel Zacharias; Beacon Coast Partners launched as an independent RIA; UBS hired Adam Conish in Philadelphia; Cetera added MTI Financial Advisors; Sanctuary Wealth recruited Pierstone Wealth Management; Osaic added Signature Private Wealth Management; Holistic Planning selected Altruist as custodian; Moneta appointed Julie Harrington to lead strategic growth; and U.S. Bank named Daniel Farley CIO.
Waverly Affiliate Acquires Smithfield Trust Company
RIA Waverly Advisors’ parent company acquired the equity of Smithfield Trust Company, a Pittsburgh-based trust company managing approximately $3 billion in assets. Waverly Advisors said the acquisition expands its trust and estate capabilities. Smithfield provides trust administration, investment management, tax services and estate planning.
Smithfield President and CEO Elizabeth Poggi and Chairman and Chief Investment Officer Timothy Rice will join Waverly as Co-Regional Directors and continue to lead the firm’s team. Waverly said the deal represents its 34th transaction since receiving a 2021 investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. Turkey Hill Management advised Smithfield.
Justin Russell, President and CEO of Waverly Advisors, said, “Acquiring respected trust companies has been a long-standing goal of Waverly’s. Smithfield’s unified approach to trust, tax and investment management directly supports Waverly’s mission of building a cohesive and world-class service offering to better serve our clients. Smithfield’s unwavering commitment to client-first principles aligns seamlessly with Waverly’s philosophy.”
Advisor Transactions
NewEdge Wealth Adds James Nichols In Nashville
NewEdge Capital Group said James Nichols joined RIA NewEdge Wealth as Principal in a new downtown Nashville office. Nichols previously served as a Senior Vice President-Wealth Management at UBS and focuses on advising business owners and entrepreneurs around liquidity events.
Nichols has also held roles at Morgan Stanley/Smith Barney. He is joined by Erin Thomas, Vice President, Client Service, and Lena Schelzig, Analyst, Client Service. NewEdge said the hire builds on its expansion in Tennessee. NewEdge Wealth serves high net worth and ultra-high net worth clients, including family offices and institutions.
Rob Sechan, Managing Director and Co-Founder of NewEdge Wealth, said, “Central Tennessee has seen an explosion of growth for nearly a decade, with large tech firms, startups and established industries creating significant wealth in the region. James’ extensive experience supporting local business owners as they navigate the changing landscape will enhance our ability to serve this important and growing market.”
Raymond James Recruits Teams In Virginia And Utah
Raymond James added two advisor teams managing more than $820 million in combined client assets. In Virginia, C. Drew Arney and Grant Watson III joined Raymond James & Associates, the firm’s employee advisor channel, from Truist Investment Services, where they managed more than $200 million. In Utah, Richard Romano Jr., Amanda Arcilesi Simmons and Brian Collard joined Raymond James Financial Services, the firm’s independent advisor channel, from Stifel, with approximately $620 million.
Arney and Watson operate as The Arney Group of Raymond James, which serves individuals, families and business owners and is joined by Registered Client Service Associate Anne Mullen. The Utah-based advisors operate as ARC Wealth Management, which serves a range of clients including business owners, nonprofits and retirees.
Richard Romano Jr., Founder and Managing Partner of ARC Wealth Management, said, “We chose Raymond James because it makes us better for our clients. Our goal is to deliver comprehensive, personalized guidance that merges white glove service with modern efficiency. Raymond James’ scale, technology and stability give us the support to focus entirely on client needs while maintaining a boutique feel backed by strong home-office support.”
LPL Financial Adds Spectrum Wealth And Daniel Zacharias
LPL Financial added Spectrum Wealth Strategies and Financial Advisor Daniel Zacharias to its broker-dealer and RIA platform. Spectrum Wealth Strategies joined from MassMutual with approximately $1.5 billion in advisory, brokerage and retirement plan assets. Zacharias joined from UBS, where he oversaw approximately $250 million in assets, and affiliated with Decorum Wealth Management, an LPL Strategic Wealth firm.
Spectrum Wealth Strategies is based in Dallas and operates additional offices in Texas and North Carolina. The team includes multiple advisors and focuses on planning for high-earning individuals and families. Zacharias has nearly 20 years of experience and serves professionals, retirees and business owners.
Jonathan Bomar, Partner and Financial Advisor at Spectrum Wealth Strategies, said, “Our goal is to meet clients where they are and help guide them to where they want to go. We build comprehensive financial plans that evolve alongside our clients, with a focus on long-term partnership and helping them make informed decisions throughout life.”
Beacon Coast Partners Launches As Independent RIA
Beacon Coast Partners launched as an independent, employee-owned RIA based in San Francisco, focused on ultra-high net worth clients navigating liquidity events. The firm is led by Founding Managing Partners Michael Evans and David Jasper. The team previously oversaw approximately $3.5 billion in client assets at UBS.
Beacon Coast said it works with clients before and after liquidity events, integrating asset allocation, cash flow modeling, and tax and estate planning. It operates as a fiduciary and said it maintains a limited client roster to support direct partner engagement during periods of financial complexity and transition.
Evans said, “You can spend years building something without liquidity, without certainty, and then everything changes at once. That transition introduces a new set of decisions, and those decisions often carry long-term consequences. Our work is built around helping clients navigate that moment with clarity and structure.”
UBS Hires Adam Conish In Philadelphia
UBS Wealth Management hired Adam Conish as a Financial Advisor in Philadelphia. Conish manages approximately $1.2 billion in client assets and joins the firm’s Mid-Atlantic Market.
Conish previously spent 20 years at Glenmede, where he held senior roles including Director of Endowment & Foundation Management and Portfolio Manager. He also helped develop the firm’s outsourced CIO offering. Earlier in his career, he held positions at Schlarbaum Capital Management and Van der Moolen Options.
Patricia Cashin, Senior Market Director at UBS, said, “Adam is an extremely talented financial advisor with decades of experience and a unique focus on advising foundations, endowments and non-profit organizations. We are continuing to invest in our talent, and grow our capabilities, to provide even more services and offerings to meet the complex financial needs of our clients. The addition of an advisor of Adam’s caliber is key to this strategy.”
Cetera Recruits MTI Financial Advisors
Cetera onboarded MTI Financial Advisors, led by Founder Douglas Morey, to its Summit Financial Networks community. The team joins from Osaic and oversees approximately $350 million in assets under administration. Based in Edina, Minnesota, the firm serves clients in more than 20 states and focuses on high net worth families, business owners and retirees.
MTI Financial Advisors was founded in 1988 and has operated from its current office since 1991. The firm maintains a predominantly fee-based business model and provides estate planning, tax-efficient wealth transfer and generational financial strategies. The team includes multiple advisors and operates an additional office in Florida.
Tom Halloran, Advisor Channel Leader at Cetera, said, “Doug has built something so impressive – an independent firm with nearly four decades of consistent, high-touch client service and a real commitment to doing things right. The way MTI operates, with customized solutions, a fiduciary mindset, and deep client relationships, is exactly what Summit was built to support. We're proud to have Doug, Chris, Tom and the entire MTI team with us and look forward to helping them continue to grow.”
Sanctuary Recruits Newly Launched Pierstone Wealth Management
Sanctuary Wealth added Pierstone Wealth Management, a New York City-based firm led by Founder Kyle Young. Young launched the firm after overseeing $350 million in client assets at Morgan Stanley. Pierstone includes Steven Salton and Randi Speedling and provides services including investment management, estate planning coordination, tax strategy and retirement planning.
Young focuses on serving the LGBTQ+ community. Sanctuary is a hybrid RIA platform supporting independent advisors with operational and platform infrastructure.
Adam Malamed, CEO of Sanctuary Wealth, said, “Pierstone Wealth Management is the latest in a growing list of elite teams that are attracted to our strong platform and full-service approach to wealth management. Kyle and his team have a strong sense of purpose, a deep commitment to the clients they serve and a clear vision for the future of their business. Just as importantly, they recognize the value of partnering with people who can help bring that vision to life.”
Osaic Adds Signature Private Wealth Management
Osaic recruited Signature Private Wealth Management, a Waterloo, Iowa-based firm led by Robert Mundell. The team joined from Wells Fargo Advisors Financial Network and oversees more than $300 million in client assets.
Signature’s team includes Senior Financial Advisor and Founder Robert Mundell, Senior Financial Advisor Isaiah Mundell, Financial Advisors Erica Johnson and Tyler Johnson, as well as Operations Manager Jocelyn Green. Osaic is a portfolio company of Reverence Capital Partners and supports over 10,000 financial professionals.
Robert Mundell said, “Our clients are at the center of every decision we make. Choosing Osaic was about finding the right long-term home for our firm, our family and the families we serve. Osaic provides the open-architecture platform, flexibility and community we need to continue delivering a high-quality client experience while positioning our business for the next generation.”
Strategic Partnerships
Holistic Planning Selects Altruist As Custodial Partner
RIA Holistic Planning selected Altruist as its preferred custodial partner and committed approximately $450 million in assets to the platform. Holistic Planning has more than $1.25 billion in assets under management (AUM). It said the move supports its integration of custodial infrastructure with planning and tax workflows.
The partnership also supports development of HolisticOS, the firm’s agentic operating system for advisors. Holistic Planning said it intends to expand the platform’s capabilities and may make elements available to other independent RIAs as part of its broader technology strategy.
Jason Barber, Founder and CEO of Holistic Planning, said, “Altruist’s API connectivity gives us the flexibility to build the operating experience we want—not just for our own advisors and clients, but for the independent advisors we plan to bring onto HolisticOS. Moreover, having the alternatives marketplace directly within the platform was a game-changer. That combination made Altruist the right fit for our long-term vision.”
Promotions & People Moves
Moneta Names Julie Harrington As Director Of Strategic Growth Initiatives
Moneta appointed Julie Harrington as Director of Strategic Growth Initiatives. Moneta is an RIA with more than $50 billion in AUM. The firm said the new role focuses on advisor recruiting, partnership development and supporting its national expansion strategy.
Harrington previously served as Managing Director at Schwab, where she worked with advisory firms on growth and business development. Moneta said the position aligns with its efforts to address succession planning and consolidation trends.
Keith Bowles, President and Chief Operating Officer of Moneta, said, “Julie brings a unique combination of industry knowledge, relationship-building expertise, and strategic insight that aligns perfectly with Moneta's vision for the future. She has spent her career helping advisors and firms grow, and we are excited to welcome her to Moneta as we continue to invest in our growth platform, expand our national presence, and create new opportunities for our advisors and clients.”
U.S. Bank Names Daniel Farley As CIO For Wealth Management
U.S. Bank named Daniel Farley as Chief Investment Officer for its Wealth Management Asset Management Group. Farley will oversee investment strategy, asset allocation and portfolio construction for more than 480,000 clients. The firm said the role is central to guiding its investment positioning across markets and client portfolios.
Farley has been with U.S. Bank since 2010 and most recently served as Midwest Region Executive for Private Wealth Management. He previously held roles as Regional Investment Director and Senior Portfolio Manager and began his career as a U.S. Army officer before entering financial services.
Scott Ford, President of Wealth Management at U.S. Bank, said, “Dan is a proven, visionary leader with deep investment expertise and an unwavering commitment to our clients. Over the past few years, he has delivered extraordinary results leading the Midwest region for U.S. Bank Private Wealth Management and played a key role in advancing initiatives that strengthen how we serve clients. His leadership and perspective will be instrumental as we continue to elevate our investment capabilities and help clients achieve their long-term goals.”
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