Ali Hibbs

New York

Seeker of truth, maker of trouble, reader of books, compulsive autodidact and aspiring bodhisattva.🦋 Reporter at MT Newswires.

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Articles

Elevation Point Buys Stake in UBS Breakaway Managing $1.9 Billion in Louisiana

1 week ago | advisorhub.com | Ali Hibbs

Elevation Point, a firm launched one year ago by former Sanctuary Wealth CEO Jim Dickson to buy minority interests in RIAs, has acquired a stake in a practice that broke away from UBS Wealth Management USA in Lafayette, Louisiana. Founded by Benjamin T. Domingue, Travis D. Frayard and Shawna S. Prejean, the 12-person team was managing nearly $1.9 billion and advising on another $637 million at UBS, according to the announcement.
Focus, SCS Sued Over ‘Staggeringly Overbroad’ Non-Compete Agreements

1 week ago | advisorhub.com | Ali Hibbs

Two veteran advisors who left $7-billion Edge Capital Group earlier this year amid its merger with another Focus Financial Partners subsidiary have filed suit in federal court, attacking what they call “staggeringly overbroad” and unlawful employment restrictions. The case is another test of Focus’ and other roll-up firms’ ability to enforce strict non-solicitation and non-compete agreements when advisors leave. James T.
LPL Notches 50th ‘Strategic Wealth’ Hire With $425-Mln RBC Team

1 week ago | advisorhub.com | Ali Hibbs

More than five years after launching the Strategic Wealth Services “channel” in a bid to court more breakaway brokers, LPL Financial said it has hired its 50th team into the unit. A five-person team from RBC Wealth Management-U.S. jumped ship to join the “supported independence” model, which offers additional assistance such as marketing and operational resources for a revenue-based fee. San Diego-based EverMark Investment Partners includes advisors Matthew F. Sweeney, John T. Folsom and Tanner J.
Osaic Scoops Up $13.5-Bln Boston RIA CW Advisors

1 week ago | advisorhub.com | Ali Hibbs

Independent brokerage giant Osaic is bolstering its employee advisor channel and M&A arm with a deal for a Boston RIA managing $13.5 billionOsaic purchased CW Advisors from private equity firm Audax, according to an announcement on Tuesday. CW, which was formerly called Congress Wealth Management, says it has around 140 advisors. Although the advisors will become Osaic employees, the practice will retain its brand and continue to custody with Schwab and Fidelity, according to the announcement.
Wells Fargo Duo Takes $200-Mln Practice to &Partners in Washington State

1 week ago | advisorhub.com | Ali Hibbs

&Partners, an upstart firm launched in 2023 by former Wells Fargo Advisors and Edward D. Jones & Co. executives, has nabbed a duo from the wirehouse in Tacoma, Washington. Matthew S. Frank and Cynthia A. Briggs joined &Partners on Friday and are calling their practice Alderstone Private Wealth Management, according to a LinkedIn post. They had managed around $200 million in assets, according to a person familiar with their practice.
LPL Duo to Launch RIA in Pacific Northwest

2 weeks ago | advisorhub.com | Ali Hibbs

A pair of independent brokers at LPL Financial are partnering up to found their own RIA, based in the Pacific Northwest. Locke P. Bielefeldt and Evan A. Harris, who are based in Eugene, Oregon and Kalispell, Montana, respectively, are calling their new firm Evergreen Wealth Partners, according to regulatory filings. Bielefeldt had spent the past nine years with LPL while Harris spent all but two rookie months of his 12-year career with the independent brokerage.
Goldman, Stephens Advisors Team Up to Launch Acquisitive RIA in Atlanta

2 weeks ago | advisorhub.com | Ali Hibbs

Three advisors from Goldman Sachs Private Wealth and Stephens Inc. broke away to launch an Atlanta RIA that plans to grow by buying other independent shops and recruiting from Wall Street firms. Goldman advisors Zachary L. Cloud and Brian P. Gately and former Stephens regional manager Robert E. Durham launched Anchyra Partners, according to an announcement on Tuesday. The trio managed $2.6 billion combined at their prior firms, according to the announcement.
Carson Buys Colorado RIA Managing $570 Million

2 weeks ago | advisorhub.com | Ali Hibbs

Carson Group, an Omaha, Nebraska-based RIA with more than $42 billion under management, has acquired a Colorado firm managing about $570 million in assets, according to an announcement on Tuesday. Based in the Denver suburb of Littleton, Wambolt & Associates includes founder and managing partner Gregory A. Wambolt and four other advisors with less than a decade of experience each.
Edelman Financial Engines Draws New President From Capital Group

2 weeks ago | advisorhub.com | Ali Hibbs

Edelman Financial Engines, a California-based RIA managing approximately $287 billion, has named a new president almost two years after the role was vacated in an executive shake-up. Ralph Haberli, who was most recently president of the institutional retirement client group at Capital Group, will be tasked with expanding Edelman’s workplace business working with corporations as well as its retail wealth planning channel, according to an announcement on Monday.
Now Hiring: Creative Planning Seeks to Fill New Role Leading M&A

2 weeks ago | advisorhub.com | Ali Hibbs

Creative Planning, a Kansas-based RIA managing about $217 billion and advising on another $136 billion, is searching for a candidate to be head of M&A reporting directly to its chief executive, according to a source familiar with the matter. The newly created role will focus on accelerating Creative Planning’s dealmaking in the U.S. and expanding internationally, Chief Executive Officer Peter Mallouk confirmed.