Alex.Brown Loses FA to SunTrust
SunTrust is building out its private wealth management operations with the launch of a new office in Boston, for which the company lured an advisor from Alex.Brown, SunTrust says.
Daniel Larsen joins SunTrust’s Boston office as a client advisor, specializing in business transition planning, retirement income planning and goals-based financial planning, according to a press release from the firm. He had been with Alex.Brown, a division of Raymond James, since 2017, according to his BrokerCheck profile.
Larsen first became a registered representative in 2008 and had stints at four other firms before Alex.Brown, according to BrokerCheck.
Also joining SunTrust’s new Boston office is Rick Tesh, who’s relocating from the firm’s Greensboro, N.C., office, according to the press release. Charles Swarns, based in the New York office, will lead the Boston team, SunTrust says.
SunTrust has been expanding its private wealth management operations, starting with the establishment of an office in New York in 2017, the company says. Since then, SunTrust has also rolled out new wealth management offices in Houston, Dallas, Cincinnati, Cleveland and Los Angeles.
“Establishing an office in Boston is an important step in our Northeast expansion, and builds on our wealth management presence in New York City and Greenwich,” Joe Thompson, head of SunTrust Private Wealth Management, says in the press release. “New England has a high concentration of affluent individuals and families who will benefit from our goals-based financial planning process, investment expertise and banking solutions, allowing them to make confident financial decisions.”
Aside from the recent departure, Alex.Brown has been mostly adding advisors from rivals in recent months. In April, the company poached an advisor overseeing around $170 million at Snowden Lane Partners.