Northwestern Mutual has lost a pair of advisors to independence.
The brother-sister team of Katherine Forrester Schneewind and Michael Forrester have formed their own Minnetonka, Minn.-based RIA, High Note Wealth, and partnered with Dynasty Financial Partners for its advisor support services and turnkey asset management platform, according to a press release from Dynasty.
The High Note team, which includes four other support staff members, previously managed $500 million at Northwestern, and works with high net worth individuals, families, business owners, women-owned businesses and family businesses, corporate executives, and women in transition, Dynasty says.
“Both Katherine and I are very appreciative of our time at Northwestern Mutual and will miss our old friends and colleagues,” Forrester says in the press release. “The idea of owning our own family business together and being able to grow our wealth management business with more high net worth clients is really exciting to us and our team. We also feel that over time there will be an opportunity for us to selectively grow inorganically by adding advisors who fit the culture of firm we are building.”
Dynasty came in second in the number of deals in the RIA space in the first three quarters of 2019 with six deals, behind Focus Financial Partners, which had 19, Fidelity reported last month. Brokers from Wells Fargo, UBS, Merrill Lynch and Morgan Stanley have chosen to go with Dynasty this year.