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Morgan Stanley Loses Veteran FAs to Matrix Private Capital Group

By Alex Padalka May 6, 2019

A pair of veteran Morgan Stanley financial advisors have jumped ship to Matrix Private Capital Group, Matrix says.

Scott Weissman and Thomas Bruce join Matrix as partners in Chicago, according to a press release from the company. Weissman had been with Morgan Stanley for 22 years prior to joining Matrix, most recently focusing on affluent families, family offices, executives and entrepreneurs, Matrix says. Bruce had been with Morgan Stanley for 15 years, according to the press release.

“We are excited to join the firm and embrace the platform. This will allow our team to give clients exceptional opportunities while continuing to be unbiased advocates for the families we serve,” Weissman says in the press release.

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Carson Lures $575M RIA

An Indianapolis-based boutique wealth management firm has affiliated with Carson Wealth, the company says.

Spectrum Management Group, co-founded by Bob Phillips and Leslie Thompson, oversees $575 million, according to a press release from Carson Wealth. It’s the fifth firm with $500 million or more in assets to affiliate with Carson over the past year, the company says. As part of the affiliation, Spectrum is rebranding as Carson Wealth, according to the press release.

“As we have followed Carson’s evolution and thought about our own future, aligning with Carson made sense,” Thompson says in the press release.“The pace of change in our industry is accelerating, so having a partner that is on the leading edge of that change will provide us the tools necessary to continue providing the highest level of service to existing clients – and the resources necessary to help many more for years to come.”

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LPL Poaches $215M Credit Union-Based Investment Practice from CUSO

A credit union-based investment program has left CUSO Financial Services to join LPL Financial, LPL says.

Financial advisors Gina Bayer and Sam Solgan, who run the investment program offered at Capitola, Calif.-based Bay Federal Credit Union, have joined LPL’s broker-dealer and corporate RIA platforms, according to a press release from LPL. The team oversees $215 million of client brokerage, advisory and retirement plan assets, LPL says.

“Bay Federal is focused on delivering value and building relationships with our members,” Carrie Birkhofer, Bay Federal Credit Union president and CEO, says in the press release. “The lineup of products, ability to deliver objective advice and access to a leading technology platform we gain with LPL will enhance the experience that our investment services program can deliver to our membership.”

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Ameriprise Nabs $304M FA Practice from MassMutual

A team of MassMutual financial advisors has jumped ship to Ameriprise, Ameriprise says.

Financial advisors John Ross, Billy Diodato, Dan Buckley and Jack Fraser, along with client relationship managers Johnathan Ross and Pamela DeRose and executive assistant Maryann Gulotta, have joined Ameriprise’s franchise channel, according to a press release from the firm. The team, which has offices in Staten Island, N.Y., and Spotswood, N.J., oversees around $304 million and operates under the name John Calabrese Financial, Ameriprise says.

"Most of our clients are age 55 and older,” Ross says in the press release. “We specialize in helping them with asset management to secure enough money to last through the retirement they’ve dreamed of, while still keeping their family legacy strong by being thoughtful about how they pass their hard-earned assets to their kids and grandkids.”

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HighTower Snaps Up $400M FA Team from Fieldpoint

HighTower’s Treasury Partners has scooped up a pair of financial advisors from Fieldpoint Private, HighTower says.

David Zoll, previously a managing director and senior advisor at Fieldpoint, joins Treasury as a managing director and partner, according to a press release from HighTower.

Sarah Pifer, previously an associate advisor at Fieldpoint, joins Treasury as an associate director, HighTower says. The pair manage $400 million, according to the press release.