Industry Moves

LPL’s ‘Tremendous Support’ Draws Veteran Wells Fargo FA

LPL Financial says William Matesich Sr. has joined the firm from Wells Fargo Advisors Financial Network.

Matesich served $140 million in brokerage and retirement plan assets at the previous firm, according to LPL.

In the wealth management industry since 1987, Matesich is “excited about the next chapter of his life with a new affiliation with LPL Financial,” the company says in a press release.

“I am so impressed with LPL’s culture and the quality of employees. I was looking for a company that values honor and integrity and that’s exactly what I found in LPL,” Matesich says in a statement. “I also really appreciate that LPL is a committed partner. They offer tremendous support in the background, but I can have my own brand and run my business the way that works best for me and my clients.”

LPL says Matesich was drawn to the firm’s “innovative” technology, especially the client-facing systems that allow his customers to track their accounts online, upload legal documents and sign forms electronically.

Matesich is also eager to learn more about social media possibilities from LPL’s marketing team, the company says.

“His story is so inspiring. We are proud to be able to provide him with value-add capabilities and technology so that he can deepen the legacy he built through his business by helping his clients build and protect theirs," Rich Steinmeier, LPL Financial's managing director and divisional president for business development, says in a statement.

LPL provides some insights to Matesich’s start in the industry in 1987.

“He lost two grandparents, two uncles, an aunt, and his wife died 35 hours after giving birth to their second child. Six months later, the company he was working for went bankrupt and he lost his job. He moved back in with his parents and reevaluated his life goals,” LPL says in the press release.

“I didn’t have any experience as a financial advisor, but I love people and I really enjoy finance and it seemed like a natural fit,” Matesich says in a statement.

“So, he took a job at a local bank, earned his licenses and eventually worked for a larger firm where he gained more experience with stocks. In 2009, he launched Matesich Financial Services in his hometown of Grove City, Pa., building an independent business through seminars, charitable work and lots of face-to-face meetings,” LPL says.


Wells Fargo FA Joins Stifel in Pennsylvania Expansion

Stifel Financial says Randy Seymour is joining the firm from Wells Fargo Advisors, where he was responsible for $350 million in client assets.

Seymour will relocate to a new Private Client Group office in Ebensburg, Pa., Stifel’s 21st office in the state, according to the company.

“Ultimately, Randy and his team chose Stifel due to our lack of bureaucracy and competitive platform after spending 26 years at First Union, Wachovia, and Wells Fargo Advisors,” Allen Brautigam, director for branch offices at Stifel, says in a statement.


Cetera-Affiliate FA Finds ‘True Partner’ in SA Stone

Independent broker-dealer SA Stone Wealth Management says John Mata of Integrity Wealth Management is joining the firm.

Mata managed around $135 million in client assets at Integrity in The Woodlands, Texas, according to SA Stone. Integrity is affiliated with Cetera Advisors Network.

SA Stone says advisors who affiliate with the firm gain access to “comprehensive” investment and wealth services including brokerage and advisory solutions.

Incoming advisors also gain access to expanded services offered through SA Stone’s parent company, INTL FCStone and its subsidiaries, the company says. These services include “in-depth” market intelligence platform and “comprehensive” custody and clearing services, the company adds.

“My team and I found a true partner in SA Stone. We look forward to this partnership and are confident we chose the firm best designed to help serve our growing business,” Mata says in a statement.

Matthew Kelley, head of business development at SA Stone notes: “John has built an impressive hybrid team at Integrity Wealth Management truly focused on their clients.”


Indie B-D Joins Ameriprise for its ‘Integrity’

Independent broker-dealer Morton Seidel has joined a franchise practice of Ameriprise Financial located in Beverly Hills.

Ameriprise says Morton Seidel — which manages around $177 million in assets — has operated in the Los Angeles area for more than 95 years.

The team, led by veteran advisor Joan Seidel, moved to Ameriprise to leverage the firm’s technology tools and resources to serve clients, according to Ameriprise.

She is joined by her husband and fellow financial advisor, Arnold Seidel — whose father established the broker-dealer in 1925 — and her daughter-in-law and paraplanner, Gina Seidel, Ameriprise says.

With their move to Ameriprise, the Seidels joined the franchise led by advisor Alan Tarko. The team rebranded under the combined name Morton Seidel Century City Advisor Group.

“I chose Ameriprise because the firm and its people are known in the marketplace for serving clients with integrity,” Joan Seidel says in a statement. “People in leadership, at the home office, and especially Alan, are respectful of our longstanding history, and are committed to helping our clients reach their goals.”

Many of Seidel’s clients are children, grandchildren and great-grandchildren of their broker-dealer’s original clients, according to Ameriprise.

“Family is everything to us. We’ve helped multiple generations of families prepare for retirement, manage inheritances, and weather market events,” Joan Seidel adds in the statement.

Tarko says the Seidel’s “deep-rooted reputation for serving clients well” was a deciding factor in why he felt comfortable combining practices.

Also on the combined team are Ameriprise advisors Robert Marmor, Philip Decallejon, Moshe Goldstein and Steven Domokos. Marcus Ranger supports the team as their Ameriprise franchise field vice president.

Ameriprise says more than 4,000 financial advisors have joined the firm since 2008.


New Retail Business Head at Edelman Financial Engines

Edelman Financial Engines has promoted Jason Van de Loo to head the company’s retail wealth management operations.

In his new role, Van de Loo will manage a team of more than 320 financial planners overseeing close to $40 billion for 92,000 clients across 170 locations around the country, Edelman Financial Engines says in a press release. He reports to Larry Raffone, the company’s president and CEO.

Van de Loo currently serves as the firm’s chief marketing officer and will continue in that role in addition to his new duties, Edelman Financial Engines says.

He has been with the company since 2014 and has also served as interim head of the firm’s retail leadership team since July 2019, according to the press release.

Prior to joining Edelman Financial Engines, Van de Loo held senior positions in business, marketing and product strategy at Capella University and educational technology company Everspring, Edelman Financial Engines says.

Van de Loo’s promotion comes about two months after the firm named Kelly O’Donnell to run the firm’s workplace business serving participants in corporate defined contribution retirement plans, such as 401(k)s and 403(b)s, according to the press release.

Edelman’s acquisition of TAMP provider Financial Engines in 2018, which formed Edelman Financial Engines, was one of the biggest M&A deals that year. At the time, Edelman was managing around $21 billion and Financial Engines around $169 billion. Now, Edelman Financial Engines oversees more than $213 billion for 1.2 million clients across both the retail and workplace platforms, the company says.