Industry Moves

Advisor Group Firm Nabs FAs from LPL

Chris Scheller and Conrad Pearson, both previously affiliated with Advisor Group firms, have joined SagePoint Financial in Oregon.

Advisor Group says its network member SagePoint Financial has added two financial advisors in Oregon who were affiliated with Advisor Group in the past.

Chris Scheller and Conrad Pearson have joined SagePoint in Oregon, according to Advisor Group. Collectively, the two advisors oversee $365 million, Advisor Group says. 

Both advisors join from LPL Financial, where they had been registered since February 2018, according to BrokerCheck.

Scheller and Pearson run their own books of business while sharing an office headquarters in Lake Oswego, according to the press release. 

Scheller, who offers both commission- and fee-based services, has been in the financial services industry for 38 years and was previously affiliated with SagePoint from 2005 to 2016, Advisor Group says. 

Pearson has been in the industry for 37 years, including a stint at FSC Securities from 1984 to 1986 and another with Royal Alliance Associates from 1989 to 2012, according to the press release. Both firms are also on Advisor Group’s network, the company says.

SagePoint has around 1,400 advisors across the U.S., according to Advisor Group’s latest press release.

Advisor Group’s network also includes KMS Financial Services, Securities America, Triad Advisors and Woodbury Financial. In all, the network has around 11,100 financial professionals overseeing more than $450 billion in client assets, Advisor Group says. 

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BNY Mellon Wealth Mgmt Nabs JPMorgan Exec for Client Strategist Role

Greg Teegen joins BNY Mellon in Chicago.

BNY Mellon Wealth Management says it has poached another JPMorgan executive in Chicago.

Greg Teegen joins BNY Mellon as a senior client strategist, according to the firm. In his new role, Teegen will cover the Midwest market, working with ultra-high-net-worth clients such as business owners, corporate executives, private equity fund principals, family offices and foundations and endowments on wealth strategy and planning, BNY Mellon says. 

Teegen has been in the financial services industry for more than 25 years and most recently served as an executive director for JPMorgan Private Bank, where he advised UHNW families, family offices and foundations on multi-generational wealth, according to the press release. 

Prior to JPMorgan, Teegen held senior roles at Chase Commercial Bank, offering credit, treasury management, capital markets and corporate finance advisory services for mid-sized companies, BNY Mellon says.

BNY Mellon Wealth Management has been making key hires in recent months. In September, it lured a JPMorgan executive director and banker as a client strategist in Chicago and brought on Northern Trust executive to serve as New England regional head of client strategy and business development. In August, it added an experienced William Blair executive to serve as a senior wealth strategist.

BNY Mellon Wealth Management had $254 billion in total client assets as of the end of June, the company says.

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Fusion Financial Hires Ex-Fidelity Exec for Strategic Partnership Role

John DiBenedetto will oversee the RIA consulting firm’s strategic partnerships. 

RIA consulting firm Fusion Financial Partners says it hired John DiBenedetto as managing director to help guide the firm’s strategic partnerships business.

In his new role, DiBenedetto is tasked with expanding Fusion’s strategic partnerships, overseeing research development and managing relationship management with clients and broker-dealers who want to become RIAs, according to the firm. In addition, DiBenedetto will manage M&A integration services, Fusion says.

DiBenedetto has more than 25 years of industry experience, most recently serving as head of business development at Astrocyte Research and an advisor in business development at Sytoniq, according to Fusion. He also worked for close to a decade at Fidelity Clearing & Custody as vice president and senior relationship manager in business development on national accounts, and held vice president roles with Fidelity Charitable Services and Fidelity Institutional Asset Management, Fusion says.

Fusion offers business consulting services to RIAs and management services to private equity firms, investment banks, large RIAs and national firms to assist them with acquisitions in the U.S. wealth management sector, according to the press release. 

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LPL Adds GreenState Credit Union in Iowa

Five of GreenState Wealth Management’s advisors previously affiliated with Cambridge Investment Research, while a sixth joins from Royal Alliance. 

LPL Financial says it added an Iowa credit union wealth management program that has approximately $350 million in brokerage, advisory and retirement plan assets. 

GreenState Credit Union has joined LPL’s institutional services platform, aligning with Financial Resources Group Investment Services, according to LPL. 

Five of GreenState Wealth Management’s advisors previously affiliated with Cambridge Investment Research, LPL says. A sixth advisor was previously affiliated with Royal Alliance, part of the Advisor Group network of broker-dealers, according to the press release. 

GreenState Credit Union, formed in 1938, serves over 230,000 members with approximately $7 billion in assets, with membership open to anyone living in Iowa, LPL says.

LPL Financial’s institution services unit offers insurance and investment services in the form of consulting and technology solutions to around 800 banks and credit unions around the country, the company says.

Fort Mill, S.C.-based Financial Resources Group works with more than 85 financial institutions and more than 1,000 financial professionals across the country, representing more than $24 billion in brokerage and advisory assets, according to the press release. 

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Contact the reporter: apadalka@money-media.com