Industry Moves

Wells Taps Beth Renner to Lead New Wealth, Investment Mgmt Advice Center

Wells Fargo has tapped Beth Renner, who previously focused on philanthropy for the wirehouse’s clients, to serve as the head of its new Advice Center for Wealth and Investment Management.

In her new role, Renner will report to Michael Liersch, head of advice and planning at Wells Fargo’s wealth management unit. Previously, she had been overseeing Wells Fargo’s wealth management unit’s specialized advisory services to charitable individuals, families, and nonprofit organizations.

Renner and her newly organized team are expected to “build advice capabilities designed to appeal to a broad range of client needs, concerns and goals,” the company says in a press release.

The new Advice Center will help provide guidance on clients’ family dynamics, philanthropy, business transitions, life events, retirement, family office services and corporate executive service needs, the company says.

“The goal is to create impactful opportunities for advisors to engage with clients in ways that show the true value of working with Wells Fargo,” Renner says in a statement.

“[W]e have the opportunity to look more holistically at clients throughout Wealth & Investment Management and offer them access to advice and guidance through all of our channels. Beth brings tremendous high- and ultra-high-net worth client experience, remarkable philanthropic skill, and a great management track record, making her uniquely qualified for this role,” Liersch says in a statement.

It was just this summer when Liersch, who previously worked at JPMorgan Securities and Merrill Lynch, assumed his own role at Wells Fargo.

Most recently, Renner led Wells Fargo Bank’s National Philanthropic Services Group for the wealth management unit. She joined the institution in 2005 after serving as a vice president and private banking manager at U.S. Bancorp, the company says.

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27-Year-Old Matt Granski Named President of $2B Miracle Mile Advisors

Miracle Mile Advisors says it has promoted Matt Granski — who is 27 — to serve as president of the firm, making him one of the youngest leaders in the financial services industry.

Granski came to Los Angeles-based Miracle Mile in 2014 as an analyst intern and soared through the ranks, serving in various supervisory and management positions, the company says. Most recently, he served as director of strategy, tasked with strategic restructuring, an overhaul of technology platforms, critical acquisitions and forming a strategy for the firm’s growth in the future, Miracle Mile says.

Granski says he joined the company when it had six people overseeing $300 million in client assets, which has since grown to $2 billion. Granski is the youngest president of an RIA of that size, the company says.

Much of Miracle Mile’s AUM growth has come through acquisitions: In July 2020, the company acquired Aequitas Wealth Management, bringing in $250 million in assets. In January of the same year, Miracle Mile added a team of institutional consultants previously with Payden & Rygel.

Meanwhile, Granski’s appointment follows Miracle Mile’s December announcement that Merchant Investment Management took a minority stake in the RIA.

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Aaron Wealth Advisors Nabs Citigroup Veteran

Aaron Wealth Advisors says it has poached a veteran Citigroup executive.

Jennifer Barry joins Aaron Wealth as an investment advisor and managing director in Chicago, the company says. She’s tasked with providing wealth management services to individuals, families and related institutions, Aaron Wealth says.

Prior to joining Aaron Wealth, Barry spent 26 years with Citigroup, most recently as a regional sales manager and managing director in institutional equity sales in Chicago, Aaron Wealth says. Previously, Barry was a senior sales producer in the Citi Boston office, prior to which she was a financial analyst at Salomon Brothers in high yield capital markets, Aaron Wealth says.

Aaron Wealth is led by CEO Gary Hirschberg, who left Goldman Sachs in 2018, when he was managing $1.4 billion, as reported. The firm, which is a member of the Dynasty Financial Partners Network of independent advisory firms, has seen “tremendous momentum over the last few months,” Hirschberg says in a statement.

In October, Aaron Wealth added investment advisor and managing director Adrianna Stasiuk, from JPMorgan Private Bank, as well as director of investments Toby Stannard, from Northern Trust Asset Management.

Aaron Wealth currently oversees $840 million in individual and institutional assets, Aaron Wealth says. That’s the same level of client assets the company said it managed in October.

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