The AmeriFlex Group, a Las Vegas-based hybrid RIA and tremendous workplace of supervisory jurisdiction of Cambridge Funding Analysis, has recruited a California-based crew from Osaic.
Summit Monetary & Insurance coverage Providers, which manages about $280 million of shopper belongings, joins from Osaic, which AmeriFlex departed final month. The agency is led by Jerry Kleber, Raz Bracha and Leah Pattison.
The hybrid RIA, which was based in July 2019 by Thomas Goodson, was initially affiliated with SagePoint Monetary. That dealer/supplier has since been consolidated into Osaic. Goodson stated Cambridge was one of many final remaining independently-owned dealer/sellers.
“Cambridge stands out as the one actually unbiased, scaled wealth administration platform in our trade that additionally has a really clear and detailed plan to remain that means,” Goodson stated in an announcement. “Not solely was this transition seamless and expeditious, however momentum is clearly on our aspect, as lower than a month after this course of began, we’ve got already welcomed this elite crew of advisors with an extra $280 million from one other platform to our agency.”
As of final month, AmeriFlex had 129 advisors and roughly $11.87 billion in shopper belongings.
$400M Los Angeles Advisor Joins Raymond James
Jonathan Israel, a Woodland Hills, Calif.-based advisor with over $400 million in shopper belongings, has joined Raymond James & Associates, the agency’s worker advisor channel. He joins from UBS, the place he spent the final 14 years, in response to BrokerCheck.
Israel’s observe will function as Legacy Level Wealth Administration of Raymond James, with a concentrate on households and people, company retirement plans and enterprise homeowners. He’s joined by registered shopper service affiliate Jake Balcom.
LPL Lures $400M Wells Fargo Group to Worker Advisor Channel
LPL Monetary has recruited advisors Jared Black and Richard Brokaw to Linsco by LPL Monetary, its worker advisor channel. The Cheyenne, Wyo.-based crew beforehand managed about $400 million in belongings at Wells Fargo Advisors.
Black and Brokaw have launched Wyoming Asset Advisors Powered by LPL.
Advisors beneath the Linsco mannequin retain their market-facing identification however are W-2 workers of the dealer/supplier. They’ve entry to LPL’s wealth administration platform, enterprise sources, department administration assist, a devoted advertising and marketing marketing consultant, a expertise marketing consultant and a service crew.
LPL seeded its W-2 worker mannequin with its 2019 acquisition of Allen & Firm, a Florida-based b/d with 30 advisors and $3 billion in managed belongings.
In 2022, LPL acquired the personal shopper group of Conshohocken, Pa.-based funding financial institution Boenning & Scattergood, which included about 40 advisors and $5 billion in brokerage and advisory belongings. That agency additionally joined Linsco.
Osaic Recruits $125M Observe From VALIC
After 16 years at VALIC Monetary Advisors, Jason Oestreicher has moved his e book to Osaic and launched a brand new unbiased observe, PATH Monetary Companions, in Fort Lauderdale, Fla.
PATH, which has about $125 million in shopper belongings, has affiliated with Marshall Lee Rosen, an workplace of supervisory jurisdiction with Osaic. Oestreicher is joined by advisors Nicholas Brown and Travis Wealthy, and govt assistant Daniel Erazo.
The agency makes a speciality of serving workers of the Florida Retirement System, together with educators, healthcare staff and municipal workers.
Oestreicher stated he chosen Osaic for its tradition, expertise and scale.
Veteran Advisor Strikes to Cetera From LPL
Doug Shepler, a veteran monetary advisor with $110 million in belongings beneath administration, has moved to Summit Monetary Networks, one among Cetera’s communities inside its Cetera Advisor channel. Shepler was beforehand with LPL for 22 years.
Shepler, who’s based mostly in Fort Wayne, Ind., stated he made the transition as a result of he was searching for the next stage of service.
“For too lengthy, I discovered myself dedicating an pointless portion of my day to making an attempt to navigate inefficiencies and technological breakdowns with out satisfactory assist,” he stated in an announcement. “Easy questions continuously became 40-minute calls, with lengthy maintain instances and inconsistent service. I knew my observe deserved higher and that it was time for a change.”
