Geller & Co. announced the opening of a new South Florida office this week, to meet the firm’s uber-wealthy clients where they are, while rebranding to bring affiliate businesses under a single name and new logo.
Meanwhile, Sequoia Financial Group hired a new COO from Deutsche Bank and elevated existing employees to head up a strategic growth initiative, Waverly Advisors expanded westward with an Austin acquisition, and Stratos Wealth added an advisor from Asset Management Group.
In earlier reported news, Carson Group bolstered qualified plan capabilities with the largest acquisition in its history, and OneDigital Investment Advisors added a team with expertise in defined benefit plans and pension risk strategies. At the same time, NewEdge Wealth moved into the Bay Area with a First Republic breakaway, and a team left Merrill Lynch to launch Sykon Capital in partnership with tru Independence.
Geller Opens South Florida Office, Unveils New Brand
Geller & Company, an accounting and wealth management firm based in New York City, opened a new office in Jupiter, Fla., located north of West Palm Beach.
The new office will be the primary location of Scott Bush, chief client officer of Geller Advisors, Geller’s SEC-registered investment advisory business. Established in 2005, Geller Advisors manages a little more than $5 billion in client assets—including some $4.2 billion for 103 ultra-wealthy clients—and advises on $3 billion more.
“Based on our origins as a firm providing comprehensive services to clients who are highly discerning leaders in their respective fields, it is our belief that we have built some of the most sophisticated investment, tax, estate planning, CFO, and financial management capabilities available in the financial services marketplace,” Bush said in a statement. “The greatest value we deliver is at the nexus of these disciplines, helping our clients to generate long-term and sustainable wealth.”
Geller opened the Jupiter office—its third location, after a Los Angeles office was established in 2020—in an effort to meet clients where they are. The firm sees South Florida as a “key market” for new and existing clients, a number of whom are first generation wealth creators, according to the announcement.
Geller & Company also announced this week that it has adopted new corporate branding. The multicolored, prismatic logo is intended to symbolize managing “complex financial lives though multidisciplinary services and expertise,” while representing the company and its affiliates—Geller Advisors, Geller Tax and G Client Services—all operating under the brand Gellar.
Sequoia Hires COO From Deutsche Bank, Names Heads of Strategic Growth Initiative
Sequoia Financial Group, an Akron, Ohio–based RIA managing nearly $16 billion in client assets, announced a handful of key leadership moves this week.
Joseph Glick has joined the firm as chief operating officer from Deutsche Bank, where he spent almost 14 years, most recently as head of strategy in client lifecycle management. He replaces Al Kantra, who was COO for almost two years before being named head of advisors and business development.
Glick is responsible for finance, risk and compliance, legal, client service and administration, technology and organizational development at Sequoia.
“Joining Sequoia was the obvious choice for me,” he said in a statement. “The firm’s leadership team has a clear commitment to a client-first, values-based culture and has an ambitious plan to serve clients in a competitive industry.”
Sequoia also announced the promotion of Kevin Tichnell from executive vice president to chief strategy and acquisitions officer in charge of M&A, while expanding responsibilities for Annie McCauley in her role as EVP and chief client officer to include organic growth initiatives and advisor outreach.
“Today’s leadership appointments are designed to strengthen our strategic expansion plans as we continue to build a durable and scalable firm to serve clients for generations to come,” Sequoia founder and CEO Tom Haught said in a statement. “Our priorities are organic growth, selective acquisitions, and operational excellence. Annie is now responsible for organic growth and unifying our client experience, asset management and planning. We welcome Joe to Sequoia in the key role of overseeing our growing operations and breadth of services. Kevin will focus solely on leading our M&A efforts.”
Founded in 1991, Sequoia has grown organically and through acquisitions. In February, the firm bought Zeke Capital Advisors, a multifamily office in Pennsylvania managing more than $5 billion in assets that effectively doubled Sequoia’s family office practice.
With more than 200 employees, including around 135 advisors, Sequoia manages nearly $16 billion for more than 6,000 retirees, business owners and families, according to a recent Form ADV filing, as well as a number of corporations, charities and retirement plans.
The firm has a total of nine locations across Ohio and Michigan, as well as Berwyn, Pa., Hilton Head, S.C., and Tampa, Fla.
Waverly Advisors Acquires Silicon Hills Wealth Management
Waverly Advisors, a $6 billion AUM RIA based in the nation’s Southeast, expanded westward with the acquisition of Silicon Hills Wealth Management in Austin, Texas.
With $255 million in assets, Silicon Hills was founded in 2013 by Tom Brown and James Werner. Brown, regional director of Waverly’s new Austin office, Werner, and the entire team are joining Waverly in the deal.
“When considering a merger, it was important for us to find a like-minded organization as committed as we are to systems and technology solutions, which help our clients navigate their financial lives,” Brown said in a statement. “Partnering with Waverly provides our clients with better solutions and strengthened resources.”
Austin marks Waverly’s 10th location, along with offices across Alabama, Georgia and Florida. It is the sixth deal the firm has completed since taking on private equity partners HGGC and Wealth Partners Capital Group in late 2021. This spring, the firm announced the acquisition of Omni Wealth Advisors in Tampa and Atlanta, with $105 million AUM.
“As we continue to expand into new markets beyond the Southeast, we believe Tom and his team are the perfect fit to establish Waverly’s presence in Texas,” said Waverly CEO Josh Reidinger. “Silicon Hills brings a fresh perspective to innovation and technology, which will further strengthen Waverly’s existing infrastructure and enhance our client services.”
The acquisition, terms of which were not disclosed, was completed on June 16, bringing Waverly’s total AUM to $6.1 billion.
Stratos Wealth Recruits AMG Advisor With $250M in Assets
Stratos Wealth Advisors, an RIA owned by Stratos Wealth Holdings, added an advisor from Asset Management Group with more than $250 million in assets under management—Robert Hamer, in Northbrook, Ill.
With more than four decades of experience, Hamer was a founding partner and managing director at Sunset Partners Capital Management before joining AMG in 2007. At AMG, he has been a managing director since 2016.
“After spending decades in this industry, I knew exactly what I needed to better serve my clients, and after considering my options, Stratos proved to be the obvious choice,” Hamer said in a statement.
Based in Beachwood, Ohio, Stratos Wealth Advisors was founded in 2016. The firm manages more than $3 billion in advisory assets and advises on another $32 million in third-party managed accounts. Stratos offers three custodial options—Charles Schwab and TD Ameritrade, set to be fully merged by Labor Day, and Fidelity Investments—to 55-plus advisors in 12 states.
Together with hybrid RIA Stratos Wealth Partners, new W-2 affiliation model Stratos Private Wealth, acquisitive arm Stratos Wealth Enterprises and investment management shop Fundamentum, the Stratos Wealth network includes more than 350 financial professionals in 26 states overseeing a collective $22.8 billion in client assets.