Deutsche Bank Continues Wealth Management Expansion
Deutsche Bank Wealth Management is expanding its wealth management team tailoring to ultra high net worth clients in California with the recent hire of two industry veterans, the company says.
Angel Chen and Donald Taylor join Deutsche Bank Wealth Management as managing directors in Los Angeles, according to a press release from the firm. They both previously served as senior vice presidents at City National Bank’s Private Client Services, Deutsche Bank says.
Chen, who has close to two decades of executive level experience, has also had stints at Bank of the West, Wells Fargo, Union Bank of California and Bank of America, according to the press release. Taylor has more than 20 years of financial services industry experience and was a financial advisor at Merrill Lynch prior to joining City National, Deutsche Bank says. The pair will report to Michael Rogers, the West Coast head of Deutsche Bank Wealth Management Americas who joined the firm from Merrill Lynch Private Banking and Investment Group earlier this month, according to the press release.
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WealthCare Partners Affiliates with Carson Partners
An Indianapolis-based wealth management practice has affiliated with Carson Partners, Carson says.
The nine-person team of WealthCare Partners, led by the father-son duo of Steve and Eric Ford, manages $250 million and purportedly looked at eight different options over the course of a couple of years before choosing to join Carson Partners, according to a press release from Carson.
“Carson rose above the rest because a unique three-fold benefit they could provide to our team and our clients,” Eric Ford, CEO of WealthCare Partners, says in the press release. “They have not only equipped us with more robust technology but also provided an expanded team with specialized knowledge, making our team more efficient and better able to serve our clients' needs. Overnight, we’ve become a firm with an even more elite team.”
As with other wealth management practices affiliating with Carson, the Ford team will maintain ownership of their firm as part of the deal, the financial terms of which the companies didn’t disclose. Carson has recently surpassed $10 billion in assets under management, according to the press release.
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Dynasty Financial Partners Brings on $275M RIA
Pivotal Planning Group has partnered with Dynasty Financial Partners, Dynasty says.
Based on Long Island, N.Y. and in Norfolk, Va., Pivotal includes financial advisors John Marchisotta, Michael Kelly, Michael Desmond and James Diver, according to a press release from Dynasty. The team oversees $275 million in individual and 401(k) assets, Dynasty says. Pivotal will use Dynasty’s advisor platform and TAMP and will custody its clients’ assets with Schwab, according to the press release.
“The need for unbiased advice across the country has grown significantly and both clients and advisors need a solution that is free from conflict and is based on always placing the clients’ best interests first,’” Marchisotta says in the press release.“We selected Dynasty to tap their industry expertise and leverage the size and scale of their multi-billion dollar network of independent firms. Our clients receive all the benefits of a large institution with a boutique client experience. We continue to improve the advice we provide with access to institutional solutions for technology, investments and back office operations.”