UBS Hires 3 Advisers in Bethesda Office
UBS Group AG announced that Financial Advisers Richard Horn, Jeffrey Deckelbaum and Gerald Horn joined the firm from Morgan Stanley. The advisers are in the Bethesda, Maryland office, report to South Atlantic Market Executive Jake Shine and are part of the firm’s Southeast Region, led by Regional Director Julie Fox.
Richard Horn joined Morgan Stanley in 1987, Deckelbaum joined in 2006 and Gerald Horn joined in 2018.
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Deckelbaum earned an economics degree from the University of Maryland, Gerald Horn earned an economics degree from the University of Maryland and Richard Horn earned a bachelor’s of arts degree in literature from George Washington University.
Wealth Enhancement Acquires Arbor Capital Management
Wealth Enhancement, an independent wealth management firm, acquired the investment advisory business of Arbor Capital Management, an independent registered investment adviser with locations in Anchorage and Fairbanks, Alaska.
Arbor Capital Management had approximately $345 million in client assets as of August 11. It has four advisers and two support professionals led by Matthew Kolesky, president and investment adviser representative, and Ty Schommer, principal and investment adviser representative. The firm provides fiduciary wealth management and comprehensive financial planning services to individuals, families, business owners, retirement plans and institutional clients.
The acquisition closed on August 31 and is Wealth Enhancement’s first location in Alaska. As of July 31, Wealth Enhancement had $160.1 billion in client assets, including $5.5 billion in brokerage assets.
Glenmede Expands Senior Leadership Team in 4 Offices
The Glenmede Trust Company N.A., a privately held and independently owned wealth and investment management firm, appointed several senior advisers across its New York, northern New Jersey, Cleveland, and Pittsburgh offices.
Louis Porta joined the New York office as investment adviser and managing director, reporting to Gregory Khost, New York regional director. Porta has 25 years of experience building customized portfolios and implementing wealth planning strategies for families and institutions.
Christina Duffy joined the northern New Jersey office as a fiduciary adviser and managing director, reporting to Khost. Duffy has 25 years of experience as a wealth adviser, with expertise in relationship management, fiduciary administration and investment management.
Michael Novak and Jack Glending are joining the Cleveland office and will report to Bethany Bryant, Ohio regional director. Novak, who joins as a fiduciary adviser and managing director, has more than 30 years of experience in wealth management and estate planning. Glending, who joins as an investment adviser and vice president, has nearly a decade of experience constructing and managing portfolios for clients with significant wealth.
Steven Kaczynski Jr. joins the Pittsburgh office as an investment adviser and managing director. He brings more than 12 years of experience advising ultra-high-net-worth families, business owners and foundations. He will report to Andy Paterson, Pittsburgh regional director.
As of June 30, Glenmede and its affiliates oversaw $53 billion in assets under management for high-net-worth individuals, families, family offices, endowments, foundations and institutional clients.
$132M Adviser Joins Equitable Advisors
Equitable, a financial services organization and principal franchise of Equitable Holdings Inc., announced that Financial Adviser Moses Lin has joined its wealth management business, Equitable Advisors.
Lin comes to Equitable Advisors’ Southern California branch from Flagstar Advisors, where he managed approximately $132 million in client assets and served as senior vice president and group director.
Based in Arcadia, California, Lin has more than 16 years of wealth management experience, having previously held financial advisory and wealth management roles at Edward Jones, Citi and HSBC.
Equitable Advisers has more than $141 billion in assets under administration and approximately 4,600 financial professionals.
Prudential Advisors Adds Zachary Karason to Mid America Financial Group
Prudential Advisors, the wealth management arm of Prudential Financial Inc., added Zachary Karason, a Cleveland-based financial adviser, through the firm’s Mid-America Financial Group, headquartered in Columbus, Ohio.
Karason has more than 12 years of financial services experience and was responsible for more than $106 million in total client assets at U.S. Bancorp Advisors.
Karason received his bachelor’s degree from Northwood University and began his financial services career at Merrill Lynch, before joining U.S. Bancorp Advisors as a wealth management adviser.
Prudential Financial Inc. had approximately $1.6 trillion in assets under management as of June 30.
